Contents :
1. Introduction
Pursuant to Para 10.02 of the KLSE Listing Requirements, Malayan Banking Berhad ("Maybank") wishes to announce that it had on August 28, 2003 entered into an estimated RM1.3 billion 10 year IT outsourcing agreement with CSC Computer Sciences Sdn Bhd and CSC Computer Sciences Pte Limited ("the CSC Group").
2. Details of theTransaction
The Board of Maybank had on the same date approved the appointment of CSC Group to provide IT infrastructure services, which include data center operations, desktop management, network management and IT help desk across the Maybank Group's operations in Malaysia and Singapore. Maybank's IT group would continue to be responsible for IT strategy and architecture, applications development and strategic projects.
3. Interest of Director and Person Connected
There is no interested person or connected person in this transaction.
4. Effect of the Transaction
This contract is entered into as an ordinary course of business and at arms length basis. It is not expected to have any material financial impact on Maybank's earnings per share, net tangible assets per share and substantial shareholders' shareholdings.
5. Statement by the Board of Directors
Having considered all the relevant facts and merits of this transaction, the Board of Directors is of the opinion that this transaction is in the best interest of Maybank and its shareholders.
Announcement Info
| Company Name |
MALAYAN BANKING BERHAD |
| Stock Name |
MAYBANK |
| Date Announced |
28 Aug 2003 |
| Category |
General Announcement |
| Reference No |
MB-030828-58387 |