Malayan Banking Berhad (“Maybank”) wishes to announce that its indirect subsidiaries, Aseam Malaysia Nominees (Tempatan) Sdn Bhd (“AMNT”) and Mayban Securities (Jersey) Ltd (“MSJL”), had convened their Extraordinary General Meetings (EGM) on July 1, 2011 at which it was resolved that AMNT and MSJL be wound-up voluntarily.

Shareholder of the AMNT has approved the appointment of YBhg Datuk Mohd Anwar Yahya and Mr Lim San Peen of Messrs PricewaterhouseCoopers as Liquidators for the purpose of the liquidation AMNT.

AMNT has no employees and the operations and administrative functions are performed by personnel at its ultimate holding company, Maybank since 2006. 

MSJL is wholly owned by Maysec Sdn Bhd (“Maysec”).  Maysec in turn is wholly-owned by Maybank Investment Bank Berhad, a wholly-owned subsidiary of Maybank.

MSJL was incorporated on 21 December 1994 in Jersey, UK as Phileo Allied Securities (Jersey) Limited and changed to its present name on 16 January 2002.  It became a subsidiary of Maybank following the acquisition of Phileo Allied Group by Maybank in 2000 and has since been an inactive investment holding company.

The liquidation of MSJL will be done via a Summary Winding Up, one of the two ways to liquidate a company in Jersey.  In Summary Winding Up, the Directors will remain in office to dissolve the company, instead of an appointed liquidators.

The liquidation of said subsidiaries will not have any material effect on the earnings or assets of Maybank Group for the financial year ending 30 June 2012. 

None of the Directors or substantial shareholders of Maybank or persons connected to them has any interest, direct or indirect, in the voluntary liquidation.

This announcement is dated July 1, 2011.