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Malayan Banking Berhad (“Maybank”) wishes to announce that it had on April 14, 2004 entered into an agreement with HeiTech Padu Berhad for a sum of RM2,714,692.


2. Details of the Transaction and Rationale

The contract is for an initial period of seven (7) years for the provision of a risk management solution for purpose of maintenance and management of its credit card transactions. HeiTech Padu Berhad is an Information Technology solutions provider.

3. Related Party

The Transaction above is a Related Party Transaction pursuant to Paragraphs 10.02 and 10.08 of the LR.

4. Effect of the Transaction

The contract is entered into as an ordinary course of business and is not expected to have any material financial impact on Maybank’s earnings per share, net tangible asset per share and substantial shareholders’ shareholdings.

5 Approvals Required

The Transaction does not require Maybank’s shareholders approval or approvals from any relevant authorities.

6. Details of Interest of Directors, Substantial Shareholders and Persons Connected To Them

The Transaction is deemed to be a related party transaction by virtue of Y. Bhg. Dato’ Mohd Hilmey bin Mohd Taib being a previous director of Maybank (retired on 12.10.2003), his current directorship on Maybank Philippines Incorporated (subsidiary of Maybank) and Y. Bhg. Dato’ Mohd Hilmey bin Mohd Taib’s substantial shareholding in HeiTech Padu Berhad.

7. Statement by the Board of Directors

The Board of Maybank having taken into consideration all relevant facts and merit of the transaction, is of the opinion that it is in the best interest of Maybank and its shareholders.