Transfer of the Islamic Banking Business from Maybank to Maybank Islamic Berhad ("MIB") pursuant to the Business Acquisition Agreement dated 16 November 2007 between Maybank and MIB ("Business Acquisition Agreement")

Dec 12, 2007 Back
Type Announcement
Subject Transfer of the Islamic Banking Business from Maybank to Maybank Islamic Berhad ("MIB") pursuant to the Business Acquisition Agreement dated 16 November 2007 between Maybank and MIB ("Business Acquisition Agreement")

Contents :

We refer to our announcements dated 23 March 2007 and 4 October 2007 in respect of the establishment of a subsidiary to undertake the Islamic banking business of Maybank.



We wish to announce that we have today obtained an order from the High Court of Malaya (“Court Order”) to effect and vest over the assets and liabilities of the Islamic Banking Business of Maybank in Malaysia as defined in the Business Acquisition Agreement (“Islamic Banking Business”) to MIB. In accordance with the said Court Order and the terms and conditions of the Business Acquisition Agreement, the effective date of transfer and vesting of the Islamic Banking Business shall be on 1 January 2008.


This announcement is dated 12 December 2007.

 

Announcement Info

Company Name MALAYAN BANKING BERHAD  
Stock Name MAYBANK    
Date Announced 12 Dec 2007  
Category General Announcement
Reference No MB-071212-60037