MALAYAN BANKING BERHAD ("Maybank" or "the Bank") - Articled Entitled "Maybank To Sign Equity Partnership With Fortis Group".
|MALAYAN BANKING BERHAD|
|Type||Reply to query|
|Reply to Query Letter by KLSE reference ID||PL-001030-50484|
|Subject||MALAYAN BANKING BERHAD ("Maybank" or "the Bank")|
- Articled Entitled "Maybank To Sign Equity Partnership With Fortis Group".
Contents :Aseambankers Malaysia Berhad on behalf of Maybank is writing in reply to your query dated 30 October 2000 quoting an article appearing on page 14 of the Business Times, as mentioned above.
Maybank wish to inform the Kuala Lumpur Stock Exchange that the Bank's proposal to dispose a 30% equity stake in its insurance business to Fortis International N.V. ("Proposed Disposal") has been submitted to Bank Negara Malaysia for approval. Maybank will enter into an agreement with Fortis International N.V to effect the Proposed Disposal upon approval of the relevant authorities.
Query Letter Contents :
We refer to the above article appearing in Business Times, Companies and
Markets section, page 14, on 30 October 2000, a copy of which is enclosed for
In particular, we would like to draw your attention to the underlined sentence,
which is reproduced as follows:-
"Malayan Banking Bhd says it expects to sign a formal equity partnership with
the Fortis group, Belgium's largest financial services company, to expand its
In accordance with the Exchange's Corporate Disclosure Policy, you are
requested to furnish the Exchange with an announcement for public release
confirming or denying the above reported article and in particular the
underlined sentence after due and diligent enquiry with all the directors,
substantial shareholders and all such other persons reasonably familiar with
the matters about which the disclosure is to be made in this respect. In the
event you deny the above sentence or any other part of the above reported
article, you are required to set forth facts sufficient to clarify any
misleading aspects of the same. In the event you confirm the above sentence or
any other part of the above reported article, you are required to set forth
facts sufficient to support the same.
Please furnish the Exchange with your reply within one (1) market day from the
CHONG FUI TZY
Manager, Listing Operations
c.c. Securities Commission (via fax)
|Company Name||MALAYAN BANKING BERHAD|
|Date Announced||31 Oct 2000|