Incorporation of new subsidiary - Maybank Islamic Berhad ("MIB")

Oct 04, 2007 Back
Type Announcement
Subject Incorporation of new subsidiary – Maybank Islamic Berhad ("MIB")

Contents :

We refer to our earlier announcement on 23 March 2007 in respect of the approval-in-principle obtained from Bank Negara Malaysia (“BNM”) for Malayan Banking Berhad (“Maybank”) to undertake Islamic Banking business through a subsidiary to be established by Maybank. BNM had also given its approval for Maybank to establish a subsidiary to undertake the Islamic banking business.


Pursuant to Paragraph 9.19(23) of the Listing Requirements of Bursa Malaysia Securities Berhad (“Bursa Securities”), we wish to inform that the Companies Commission of Malaysia had on 2 October 2007 issued a Certificate of Incorporation dated 5 September 2007 for Maybank’s new subsidiary for the purpose of carrying on the business of an Islamic Financial Institution in accordance with Islamic principles, rules and practices.

MIB has an authorised share capital of RM500 million comprising 500 million ordinary shares of RM1.00 each and an issued and paid-up share capital RM2.00 comprising 2 ordinary shares of RM1.00 each which is held by Maybank.


This announcement is dated 4 October 2007.

 

Announcement Info

Company Name MALAYAN BANKING BERHAD  
Stock Name MAYBANK    
Date Announced 4 Oct 2007  
Category General Announcement
Reference No MB-071004-61999