Related Party Transaction pursuant to Paragraphs 10.02 and 10.08 of Bursa Malaysia Listing Requirements

Jun 18, 2004 Back
Type Announcement
Subject Related Party Transaction pursuant to Paragraphs 10.02 and 10.08 of Bursa Malaysia Listing Requirements

Contents :

1. Introduction
The Board of Maybank ("Maybank") wishes to announce that Maybank had on June 18, 2004 entered into a related party transaction with HiTech Padu Berhad ("HPB") for a contract value of RM640, 000.00 ("the Transaction").
2. Related Party

The Transaction is a Related Party Transaction pursuant to Paragraph 10.08 of the LR.

3. Details of Transaction and Rationale

The contract is for a period of seventeen months, for the provision of a system solution.

4. Financial Effect

The Transaction is not expected to have any financial material impact on Maybank’s earnings per share, net tangible assets per share and substantial shareholdings .

5. Approvals Required

The Transaction does not require Maybank 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 direct or indirect interest in the transaction and due to his directorship on Maybank Philippines Incorporated (subsidiary of Maybank).

7. Statement of the Directors

The Board having taken into consideration all aspects of the Transaction is of the opinion that it is in the best interest of Maybank.

 

Announcement Info

Company Name MALAYAN BANKING BERHAD  
Stock Name MAYBANK    
Date Announced 18 Jun 2004  
Category General Announcement
Reference No MB-040617-61925