| Type | Announcement |
| Subject | Memorandum of Understanding (“MOU”) between Malayan Banking Berhad (“Maybank”) and PT Panin Life Tbk (“Panin”). |
| Contents | Maybank wishes to refer to its earlier announcements made on 30 March 2007, 20 August 2007, 28 September 2007, 13 November 2007, 31 December 2007, 4 April 2008 and 23 May 2008 with respect to the signing of an MOU between Maybank Group and Panin to commence discussions on a possible joint venture partnership via the acquisition of 60% stake in PT Anugrah Life Insurance (“Anugrah”), a subsidiary of Panin (“Proposed Acquisition”). As stated in the announcement dated 23 May 2008, Anugrah had informed us that the Ministry of Finance of Republic of Indonesia (“MOF”) had, vide its letter dated 8 May 2008, approved the application of Anugrah to change its ownership with Mayban Fortis acquiring 60% from Panin. The submission of relevant documents to the respective authorities is required to be made by the parties by 4 August 2008. Maybank would like to inform that both Maybank and Panin are still engaged in seeking resolution to the proposed partnership. Consequently, the abovementioned approval obtained from MOF will lapse today. This announcement is dated 4 August 2008. |
| Company Name | MALAYAN BANKING BERHAD |
| Stock Name | MAYBANK |
| Date Announced | 4 Aug 2008 |
| Category | General Announcement |
| Reference No | MB-080804-67014 |