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 has on 4 October 2017 via its two wholly-owned subsidiaries, Dourado Tora Holdings Sdn Bhd (“DTH”) and Maybank Shared Services Sdn Bhd (“MSS”), incorporated a new subsidiary in India namely MBB Labs Private Limited (“MBB Labs”) ("Incorporation").

The issued and paid-up share capital of MBB Labs is INR15,000,000 comprising 1,500,000  equity shares of INR10 each. MSS and DTH hold 1,499,999 and 1 equity shares respectively in MBB Labs. The objective of incorporating MBB Labs is to provide IT development services for Maybank group.

Maybank has on 3 July 2017 obtained Bank Negara Malaysia’s approval for the Incorporation pursuant to Section 85 of the Financial Services Act 2013.

The Incorporation 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 Incorporation.

Save for their indirect interest through Maybank (being the ultimate holding company of MBB Labs), none of the major shareholders of Maybank and/or persons connected with them have any interest, direct or indirect, in the Incorporation.

This announcement is dated 5 October 2017.