Others

May 04, 2017 Back
Type Announcement
Subject OTHERS
Description

MALAYAN BANKING BERHAD ("MAYBANK" OR "COMPANY") PROPOSED DISPOSAL OF PT BANK MAYBANK INDONESIA TBK'S ("MAYBANK INDONESIA") ENTIRE EQUITY INTEREST IN PT WAHANA OTTOMITRA MULTIARTHA TBK ("WOM FINANCE")

(Unless otherwise stated, all abbreviations used herein shall have the same meanings as those used in the Company’s announcement dated 12 January 2017 in relation to the proposed disposal of Maybank Indonesia’s entire equity interest of 68.55% in WOM Finance to  PT Reliance Capital Management (“RCM”) (“Proposed Disposal”) (“Announcement”).)

We refer to the abovementioned Announcement. Pursuant to the terms of the CSPA with RCM, Maybank wishes to announce that the Proposed Disposal has been terminated as of 3 May 2017, as certain conditions precedent to the CSPA which were scheduled to be satisfied by 30 April 2017 have not been fulfilled.

With the termination of the Proposed Disposal, WOM Finance will continue to be a subsidiary of Maybank Indonesia.

The Proposed Disposal and its termination are not expected to have any material effect on the earnings per share and net assets per share of the Maybank group for the financial year ending 31 December 2017.

This Announcement is dated 4 May 2017.





Announcement Info

Company Name MALAYAN BANKING BERHAD
Stock Name MAYBANK
Date Announced 04 May 2017
Category General Announcement for PLC
Reference Number GA1-04052017-00047