Pursuant to Paragraph 9.19(23) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, Malayan Banking Berhad (“Maybank”) wishes to announce that Maybank Private Equity Sdn. Bhd. (“MPE”), a wholly-owned subsidiary of Maybank Asset Management Group Berhad (“MAMG”), has on 16 June 2014, established a wholly-owned subsidiary, MAM DP Ltd (“DP”) in Labuan, with the subscription of one (1) ordinary share of USD 1.00, representing the entire issued and paid-up share capital of DP for cash at par.  MAMG is a wholly-owned subsidiary of Maybank.

DP will act as the manager of a new private equity fund, MAM PE Asia Fund I (Labuan) LLP (“the Fund”) which was subsequently established on 17 June 2014.  The Fund is a subsidiary of DP.  The establishment of the Fund is in line with MAMG’s plans to expand its fund management business, including that of private equity, and will have an investment focus across the Asian region. 

On 18 February 2014, Maybank obtained Bank Negara Malaysia’s approval for the establishment of both DP and the Fund as subsidiaries pursuant to Section 85 of the Financial Services Act 2013.

The establishment of DP and the Fund are not expected to have any material impact on the earnings, net assets and gearing of Maybank for the financial year ending 31 December 2014.

To the best of Maybank’s knowledge, none of the Directors and/or major shareholders of Maybank and/or persons connected with them have any interest, direct or indirect, in DP and the Fund.

This announcement is dated 18 June 2014.