Malayan Banking Berhad ("Maybank") wishes to announce that one of its indirect wholly owned subsidiaries, Maybank Kim Eng Corporate Finance Pte. Ltd. (“MKECF”) had convened its Extraordinary General Meeting on 31 October 2013, at which it was resolved that MKECF be wound-up via members’ voluntary liquidation.

MKECF is wholly owned by Maybank Kim Eng Holdings Limited (“MKEH”) which in turn is a 100% owned subsidiary of Maybank IB Holdings Sdn Bhd. Maybank IB Holdings Sdn Bhd is a wholly owned subsidiary of Maybank.

MKEH, the shareholder of MKECF had approved the appointment of Mr. Kon Yin Tong and Mr. Aw Eng Hai of Messrs Foo Kon Tan Grant Thornton LLP as joint and several liquidators for the purpose of the liquidation of MKECF.

As a result of an internal restructuring exercise, MKECF’s business and staff had been transferred to Maybank Kim Eng Securities Pte. Ltd., another wholly owned subsidiary of MKEH. Consequently, MKECF had on 3 May 2013 ceased to carry on its business of providing corporate finance and advisory services and became dormant. 

The dissolution of MKECF will not have any material effect on the consolidated earnings or net assets of Maybank for the financial year ending 31 December 2013.

None of the directors or substantial shareholders of Maybank or persons connected to them has any interest, direct or indirect, in the voluntary liquidation.

This announcement is dated 31 October 2013.