Type | Announcement |
Subject | OTHERS |
Description | MALAYAN BANKING BERHAD ACQUISITION OF NEW WHOLLY-OWNED SUBSIDIARY |
On behalf of Malayan Banking Berhad (“Maybank”), Maybank Investment Bank Berhad wishes to inform that Mayban Ventures Sdn Bhd (“Mayban Ventures”), a wholly-owned subsidiary of Maybank, has acquired 2 ordinary shares of RM1.00 each representing the entire issued and paid-up share capital of Integral Key Sdn Bhd (“IKSB”) for cash at par thus making IKSB a wholly-owned subsidiary of Mayban Ventures on 11 July 2011. The purpose of the acquisition of IKSB is to facilitate the acquisition of all assets and liabilities of SapuraCrest Petroleum Berhad (“SapuraCrest”) and Kencana Petroleum Berhad (“Kencana”), to merge the businesses of the SapuraCrest group of companies and the Kencana group of companies, which was announced by both SapuraCrest and Kencana on Bursa Malaysia Berhad’s website on 11 July 2011. The principal activity of IKSB is investment holding. This announcement is dated 12 July 2011. |
Company Name | MALAYAN BANKING BERHAD |
Stock Name | MAYBANK |
Date Announced | 12 Jul 2011 |
Category | General Announcement |
Reference No | MI-110712-59808 |