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$AFFIN (5185.MY)$ CIMB Securities has raised its target pric...

CIMB Securities has raised its target price for Affin Bank Bhd, anticipating that the Sarawak state government will deposit around RM4 billion into the bank next year. This follows the Sarawak government’s acquisition of a 31% stake in Affin, making it the largest shareholder. The research firm expects this move to improve Affin’s financial position by increasing its current account savings account (CASA) deposits and reducing reliance on more expensive fixed deposits. The target price for Affin has been upgraded to RM4.30 from RM4, with a “Buy” recommendation maintained
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