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Malayan Banking Bhd Announces Establishment Of A New Wholly-owned Subsidiary


Tuesday, 21 May 2013 05:40am EDT 

Malayan Banking Bhd announced that it has established a wholly owned subsidiary with the acquisition of two ordinary shares of RM1.00 each representing the entire issued and paid-up capital of Maybank Shared Services Sdn Bhd (Maybank Shared Services) for cash at par on May 21, 2013 (Establishment). The objective of establishing Maybank Shared Services is to provide IT shared services to Maybank Group. Maybank Shared Services will act as a vehicle to develop, maintain and standardise the Maybank Group’s IT system across the region. The authorised share capital of Maybank Shared Services is RM100,000 divided into 100,000 ordinary shares of RM1.00 each. The issued and paid-up share capital of Maybank Shared Services is RM2.00 comprising of two ordinary shares of RM1.00 each.