Proposed Merger Of Mayban Assurance Berhad and UMBC Insurans Berhad

Feb 02, 2001 Back
Type Announcement
Subject MALAYAN BANKING BERHAD
- Proposed Merger Of Mayban Assurance Berhad and UMBC Insurans Berhad

Contents :

Aseambankers Malaysia Berhad on behalf of the Board of Directors of Malayan Banking Berhad ("Maybank") is pleased to announce that the High Court of Malaya had on 30 January 2001 granted an order for Mayban Assurance Berhad ("MAB"), a wholly-owned subsidiary of Maybank, for MAB to transfer its general insurance business to UMBC Insurans Berhad ("UMBCI") ("Transfer"). The effective date for the Transfer is 2 February 2001. Pursuant to the Transfer, UMBCI will be a 94.83% subsidiary of MAB.

Subsequent to the Transfer, MAB will be an investment holding company and UMBCI will be renamed Mayban General Assurance Berhad to reflect the merged entity of UMBCI and MAB.

 

Announcement Info

Company Name MALAYAN BANKING BERHAD  
Stock Name MAYBANK    
Date Announced 2 Feb 2001  
Category General Announcement
Reference No CU-001204-64066