Contents :
Further to the announcement dated 17 January 2007 and 10 May 2007 in respect of the sale of two tranches of long standing corporate non-performing loans ("NPLs") to two separate Special Purpose Vehicle ("SPVs") namely Gale Force Sdn Bhd which is part of Standard Bank of South Africa Group and Popular Ambience Sdn Bhd which is jointly owned by Standard Chartered Bank (Hong Kong) Limited and Standard Chartered Bank Malaysia Berhad via two conditional Sale and Purchase Agreements ("SPAs") dated 17 January 2007, we are pleased to inform that the vesting orders to effect the transfer of the NPLs to the two SPVs have been granted by the High Court of Malaya at Kuala Lumpur, High Court of Sabah and Sarawak at Kuching and High Court of Sabah and Sarawak at Kota Kinabalu in May and June 2007.
Following the above, Maybank has received the entire balance purchase price from the two SPVs and the sale is now completed.
Please refer to the press release attached for details.
This announcement is dated 21 June 2007.
Announcement Info
| Company Name |
MALAYAN BANKING BERHAD |
| Stock Name |
MAYBANK |
| Date Announced |
21 Jun 2007 |
| Category |
General Announcement |
| Reference No |
MB-070621-65701 |