| Type | Announcement |
| Subject | MALAYAN BANKING BERHAD (“MAYBANK”) PROPOSED ACQUISITION OF UP TO 100% EQUITY IN PT BANK INTERNASIONAL INDONESIA TBK ("BII") PURSUANT TO: (A) PROPOSED ACQUISITION OF THE ENTIRE EQUITY INTEREST IN SORAK FINANCIAL HOLDINGS PTE. LTD. ("SORAK") FOR A TOTAL CASH CONSIDERATION OF APPROXIMATELY RM4.26 BILLION ("PROPOSED ACQUISITION"); AND (B) TENDER OFFER BY MAYBANK ARISING FROM THE PROPOSED ACQUISITION FOR THE REMAINING EQUITY INTEREST IN BII NOT OWNED BY SORAK AND ANY NEW ORDINARY SHARES IN BII THAT MAY BE ISSUED PURSUANT TO THE EXERCISE OF OPTIONS UNDER BII’S EMPLOYEE SHARE OPTION PLAN TO BE SATISFIED IN CASH AT INDONESIAN RUPIAH (“RP”) 510 PER SHARE ("TENDER OFFER"). COLLECTIVELY REFERRED TO AS THE "PROPOSAL" |
| Contents | We refer to our announcement dated 21 October 2008 in relation to the Proposal. On behalf of Maybank, Aseambankers Malaysia Berhad is pleased to announce that pursuant to the Tender Offer, Maybank through its wholly owned subsidiary, Mayban Offshore Corporate Services (Labuan) Sdn Bhd, has received 3,423 valid acceptances from the public shareholders of BII which has resulted in Maybank successfully completing the acquisition of approximately 12.6 billion shares in BII, representing approximately 25.3% of the equity interest in BII. The total cost of acquisition for the 25.3% equity interest in BII is approximately Rp6.44 trillion or approximately RM1.95 billion (at the exchange rate of Rp3,311: RM1.00, as at 2 December 2008). As a result, Maybank now effectively holds approximately 97.5% of the equity interest in BII. The remaining 2.5% of the equity interest in BII is currently held by the public shareholders of BII and BII will continue to be listed on the Indonesia Stock Exchange. The Tender Offer was conducted from 21 October 2008 to 19 November 2008 and payment for the BII shares which were validly accepted pursuant to the Tender Offer, was completed on 1 December 2008. With the completion of the Tender Offer, the Proposal is therefore now completed. This announcement is dated 2 December 2008. |
| Company Name | MALAYAN BANKING BERHAD |
| Stock Name | MAYBANK |
| Date Announced | 2 Dec 2008 |
| Category | General Announcement |
| Reference No | CU-081202-66100 |