We refer to our announcement dated 18 May 2015 in relation to the Proposed Disposal (“Announcement”). Unless otherwise stated, definitions used here shall have the same meanings as set out in the Announcement.

To recapitulate, the Proposed Disposal involves the sale of Maybank’s entire equity interest in MPNG and MPPNG to Kina Ventures for a total cash consideration of approximately Kina 319 million, plus the difference in the value of the net assets of MPNG as at the completion of the Proposed Disposal compared to 31 December 2014. The completion of the Proposed Disposal was expected to occur in the second half of 2015, upon achieving IT and operational readiness as prescribed in the SSA.

Maybank is pleased to announce that the Proposed Disposal has been completed on 30 September 2015 (“Completion Date”) after having achieved IT and operational readiness as prescribed in the SSA and as a result, effective 1st October 2015, MPNG and MPPNG will cease to be subsidiaries of Maybank.

Accordingly, Kina Ventures has paid, and Maybank has received, a total cash consideration of Kina 352.8 million (equivalent to approximately RM546.8 million based on the exchange rate of Kina 1 = RM1.55 as at 30 September 2015). Following a completion audit as prescribed in the SSA, a purchase price adjustment shall be made to reflect the changes to the net asset value of MPNG to the Completion Date.

This announcement is dated 30 September 2015.