Malayan Banking Berhad ("Maybank") wishes to announce that one of its indirect subsidiaries, Kim Eng Consultant Limited (China) ("KEC"), which had been placed under members' voluntary liquidation on 23 April 2009, has completed the liquidation process on 27 May 2014.

KEC is wholly-owned by Kim Eng Investment Limited which in turn is a 100% owned subsidiary of Maybank Kim Eng Holdings Limited (“MKEH”). The ultimate holding company of the abovementioned entities is Maybank.

KEC was set up initially to provide local market research, feasibility studies and advisory services. The liquidation of KEC was part of the corporate rationalisation exercise at MKEH. 

The dissolution of KEC will not have any material effect on the consolidated earnings or net assets of Maybank for the financial year ending 31 December 2014.

None of the directors or substantial shareholders of Maybank or persons connected to them has any interest, direct or indirect in the voluntary liquidation.

This announcement is dated 4 June 2014.