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Affin Hwang aiming for RM50b asset target

MELAKA, Oct 30 —Affin Hwang Asset Management Bhd (Affin Hwang AM) targets to grow its assets under management (AUM) to RM50 billion in 2018 from the current RM30 billion.

“Each of the states has different targets, the biggest assets are in Kuala Lumpur, our key market, at RM27 billion,” Managing Director Teng Chee Wai told reporters after the opening of Affin Hwang Capital’s Melaka branch, its seventh, by state Corporate Affairs, Human Resources and NGOs Committee chairman Datuk Amirudin Yusof.

Teng said Affin Hwang Am aims to grow its assets in Melaka to RM1 billion by 2018 from the current RM200 million, and plans to open branches in Kuantan, Terengganu and Sabah.

“We plan to open a branch in Sabah either in Sandakan or Tawau to add to the present branch in Kota Kinabalu,” he said.

Since its inception in 2001, Affin Hwang AM has achieved an exponential growth in its AUM. As at Sept 30 this year, the total AUM, comprising in-house unit trust funds as well as corporate and discretionary portfolios, stood at about RM29.4 billion. — Bernama

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