KUALA LUMPUR: Affin Bank Bhd

has received approval from Bank Negara Malaysia (BNM) for its proposed acquisition of Pheim Asset Management Sdn Bhd for RM50mil cash.

In a filing with Bursa Malaysia, the bank said the approval, granted via a letter dated April 2, 2026, is subject to certain conditions, including post-completion reviews of selected operational processes within the Pheim AM group.