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Aseambankers Malaysia Berhad ("Aseambankers"), on behalf of the Board of Directors of Malayan Banking Berhad ("Maybank"), is pleased to announce that Maybank has been granted approval by Bank Negara Malaysia ("BNM") via its letter dated 3 August 1999 to commence negotiations with the following parties with a view of merging the operations of the respective financial institutions with the Maybank Group:
Commercial Banking Business:
- EON Bank Berhad; and
- The Pacific Bank Berhad.
Finance Company Business:
- Delta Finance Berhad;
- EON Finance Berhad;
- Kewangan Bersatu Berhad; and
- Sime Finance Berhad.
Merchant Banking Business:
- Amanah Merchant Bank Berhad; and
- Malaysian International Merchant Bankers Berhad.
The Proposed Acquisitions/ Mergers of the Financial Institutions by the Maybank Group will be subject to the approval of the following:
- Bank Negara Malaysia;
- Minister of Finance (under the Banking and Financial Institutions Act, 1989);
- Securities Commission;
- Kuala Lumpur Stock Exchange;
- The Foreign Investment Committee; and
- The respective shareholders of Maybank and the vendors at the respective financial institutions' extraordinary general meeting to be convened.
Upon completion of due diligence exercise, Maybank will enter into separate Sale and Purchase Agreements with the respective parties. Further announcements will be made in due course upon finalisation of the Memoranda of Understanding to be signed by Maybank and the respective vendors.
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Yours sincerely
for and on behalf of
Aseambankers Malaysia Berhad
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Heah Kok Boon
Manager
Corporate Finance
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Rohaya Yusof
Head
Corporate Finance
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6 August 1999Kuala LumpurCopy to: MALAYAN BANKING BERHAD Board of DirectorsSECURITIES COMMISSIONMr Siow Kim Lun