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Maybank had clarified then that Aseambankers Malaysia Berhad (“Aseambankers”), its investment banking arm had embarked on an initiative with CapitaLand Group of Singapore to set up a Private Equity Investment Fund (“Fund”) to invest in real estate development projects in Malaysia. The Fund will be set up via a company called Malaysia Commercial Development Fund Pte Ltd (“MCDF”) domiciled in Singapore. The target fund size is up to US$250 million. MCDF will invest in prime real estate development projects with an expected gross development value of US$1 billion.


Further to the above, we are pleased to announce that both Maybank and Aseambankers had on 2 February 2007 obtained approval from Bank Negara Malaysia (“BNM”) to subscribe to the Fund. The Board of Directors of both Maybank and Aseambankers had endorsed the said participation in its respective Board meetings held on the 26 February and 27 February 2007.


This announcement is dated 27 February 2007.