The Board of Directors of Malayan Banking Berhad “Maybank” wishes to announce that Maybank’s wholly owned subsidiary, Etiqa International Holdings Sdn Bhd “EIH” has today, 28 September 2017, completed the acquisition of  75% shareholding in PT Asuransi Asoka Mas,  a General Insurance company based in Indonesia, for a purchase consideration of IDR 207,200,000,000 (equivalent to approximately RM64,922,598.00). The acquisition of 750,000,000 shares was  purchased from PT Transpacific Mutualcapita  who will keep the remaining 25% shareholding in PT Asuransi Asoka Mas.  All relevant approvals  including those from Bank Negara Malaysia and Otoritas Jasa Keuangan of Indonesia have been obtained. This acquisition is in line with Maybank Group’s Insurance and Takaful business vision to be a leading regional insurance  player.

The transaction is not expected to have any material impact on the earnings, net assets and gearing of Maybank Group for the financial year ending 31 December 2017.

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