Pursuant to Paragraph 9.19(23) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, Malayan Banking Berhad ("Maybank") wishes to announce that Maybank Ageas Holdings Berhad (“MAHB”), an indirect subsidiary of Maybank, had on 26 November 2013 established a wholly owned subsidiary with the subscription of one (1) ordinary share of S$1.00, representing the entire issued and paid-up share capital of Etiqa Pte Ltd ("EPL") for cash at par ("Establishment"). 

Presently, Etiqa International Holdings Sdn. Bhd. (EIHSB), a wholly owned subsidiary of Maybank, holds 69.05% interest in MAHB. With the Establishment, EPL became a wholly owned subsidiary of MAHB and a subsidiary of EIHSB and Maybank.

Maybank had on 27 August 2013 obtained Bank Negara Malaysia’s approval for the Establishment pursuant to Section 85 of the Financial Services Act 2013 subject to the approval from the relevant Singapore Authorities. 

The issued and paid-up share capital of EPL is S$1.00 comprising of one (1) ordinary share of S$1.00. 

The Establishment is not expected to have any material impact on the earnings, net assets and gearing of Maybank for the financial year ending 31 December 2013.

To the best of Maybank’s knowledge, none of the Directors and/or major shareholders of Maybank and/or persons connected with them have any interest, direct or indirect in the Establishment.

This announcement is dated 27 November 2013.