Category: Maybank

Maybank completes sale of PNG subsidiaries to Kina Ventures Ltd

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Maybank announced that it has completed the sale of its entire equity interest in Maybank (PNG) Limited (MPNG) and Mayban Property (PNG) Limited (MPPNG) to Kina Ventures Ltd pursuant to the share sale agreement (SSA) entered into on 18 May 2015

Effective 1st October 2015, MPNG and MPPNG will cease to be subsidiaries of Maybank. The sale was undertaken following approval from the Central Bank of Papua New Guinea.

Group President and CEO of Maybank, Datuk Abdul Farid Alias congratulated Kina Ventures Ltd on becoming an integrated financial service provider in Papua New Guinea upon successful completion of this transaction.

“We have worked diligently to ensure that the transition was smooth for our customers so that they continue to enjoy the same range of services without any disruption to their accounts, facilities and banking relationships,” he explained. “The whole exercise was made possible owing to the support from all stakeholders and Maybank would like to record our appreciation to all our customers, employees, regulatory authorities and business partners for the cooperation and understanding throughout the period, as well as their support over the years.”

He added that although the Group will no longer have on-ground operations in Papua New Guinea, Maybank will continue to support clients from PNG who have business or personal banking dealings in the region as well as facilitate transactions into PNG from across Maybank’s global network.

The disposal of MPNG and MPPNG was announced as part of Maybank Group’s evaluation of its international operations with a specific focus on maximising capital use as well as optimising resources.

This involved the sale of the entire equity interest in MPNG and MPPNG respectively for a total cash consideration of Kina 352.8 million (equivalent to approximately RM546.8 million based on the exchange rate of Kina 1 = RM1.55 as at 30 September 2015). Following a completion audit, a purchase price adjustment shall be made to reflect the changes to the net asset value of MPNG to the completion date.

Maybank established operations in PNG in 1994 serving the local community and cross-border clients, and has been operating profitably and successfully in Papua New Guinea over the years.

The disposal will not have any effect on the issued and paid-up share capital as well as shareholdings of the substantial shareholders of Maybank. It is also not expected to have any material effect on the earnings per share, net assets per share and gearing of the Maybank Group for the financial year ending 31 December 2015.

Maybank and 1337 Ventures launches the #MaybankFinTech Ideation Bootcamp for Start-Ups

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Maybank, Malaysia’s largest lender and a leading banking group in Southeast Asia, has partnered with 1337 Ventures, Malaysia’s leading technology accelerator, to source for promising Financial Services Technology (FinTech) start-up ideas.

To cultivate innovation, the Maybank Group will hold a one-day road show for its ideation boot camp in four main emerging markets in the region, namely, Manila, Jakarta, Bangkok and Kuala Lumpur where start-ups, not just those focusing on the FinTech space can submit their applications. Start-ups will be exposed to the opportunities in Southeast Asia and Maybank in each leg of the Ignite programme (road show). Participants can register and start submitting their applications at www.maybankfintech.com or during the road shows. Applications must be in the form of a one-minute video pitch of their app idea. Start-ups have one month after the road shows to submit their ideas.

The top 20 start-ups with the best ideas will be flown to Maybank’s headquarters in Kuala Lumpur, all expenses paid, to join a three-day FinTech idea validation boot camp from June 13-15, 2015. In this phase, Maybank and 1337 Ventures will choose top start-up ideas that will undergo a three-month on-boarding and pilot testing phase with Maybank to validate the feasibility of the adoption and implementation of their idea.

“Maybank is excited to be running this event. We want to be a central member of the Fintech community in the region, to help grow and support entrepreneurs, by providing them with a platform to connect directly with the financial industry. Starting with this event, we hope to create an on-going dialog between us, the financial industry and the many entrepreneurs out there. There is much to learn from each other,” said Amran Hassan, Head of Corporate Development & Innovation, office of the Group President & CEO.

“Fintech has great potential and opportunity in the emerging markets especially around areas of payments, which is why 1337 Ventures is delighted to partner with Maybank on its Fintech initiatives in South East Asia,” said 1337 Ventures.

OFW in Kuala Lumpur wins Php10,000 GCs in Maybank’s Magremit at Manalo Promo!

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Maybank Philippines, Inc. (MPI) recently named the second prize winner of Php10,000 worth of Sodexo gift certificates for its “Magremit at Manalo” promo.

For sending money from Malaysia to the Philippines through Maybank’s Money2U services, Nenette Brabante, a Filipino worker in Kuala Lumpur, is the lucky winner of Php10,000 worth of Sodexo gift certificates. She sent remittance using the credit-to-account channel to her mother, Marilou Brabante, who resides in Naga City, Camarines Sur.

Maybank’s Magremit at Manalo raffle promo ran from October 14 to December 14, 2014. It was open to all individuals sending remittances through the Maybank Money Express and Money2U channels from Malaysia.

Maybank Money Express is a real-time electronic money transfer service that allows overseas individuals to send money through any Maybank branch in Malaysia to their loved ones in the Philippines who may claim the remittance at any of Maybank’s 79 branches, Palawan Pawnshop’s 2,179 outlets, and UCPB’s 223 branches nationwide. Meanwhile, Money2U is another remittance service of Maybank that allows individuals to transfer cash from Malaysia to any bank account in the Philippines.

Maybank introduces the newest kid on the block: the M2U Mobile Banking App!

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With the rising demand to make banking fast, accessible and convenient nowadays, Maybank Philippines, Inc. rose to the challenge yet again by launching the Maybank2U (M2U) Mobile Banking App as part of its commitment to bring banking and innovation together beyond its physical presence.

The M2U mobile app enables clients to perform different banking transactions with a tap on their mobile phones.

By downloading the M2U mobile app from Apple App store or Google Play Store, clients can access their bank accounts and check on the details of their deposit, credit card and loan accounts; quickly transfer funds to another Maybank or any Bancnet member bank account; pay their utility and credit card bills; and reload their mobile prepaid accounts.

“At Maybank, we value the things that you do everyday like checking your accounts, paying bills and doing fund transfers. The Maybank PH mobile app lets you be on top of your finances at your most convenient time and place,” said MPI Executive Vice President and Head of Retail Business Group, Richard C. Lim.

What’s more, the M2U mobile app provides a rich banking experience to clients as it allows them to locate the nearest Maybank branch and ATM in their area with its Around Me feature, which uses Augmented Reality technology that can direct you to the nearest Maybank branch or ATM by just moving your device around.

Even better, it also provides the latest promos from Maybank so you will never miss one!

Current M2U Internet Banking users, can now download the M2U mobile app by typing “Maybank PH” in Apple app store or Google Play Store. Meanwhile, for non-M2U Users, enrol your deposit account or credit card account details to M2U Internet Banking in your nearest Maybank branch to enjoy the M2U mobile app.

What are you waiting for? Download the M2U mobile app now and start managing your finances whenever, wherever.

Get your CBTL Single Beverage System now for half the price!

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Maybank depositors can now better enjoy their coffee with Maybank’s “Double the Fun at Half the Price” promo. All Maybank depositors are entitled to a 50% discount when they purchase any of the Coffee Bean and Tea Leaf Single Beverage System: CBTL Kaldi; CBTL Desto; and CBTL Milk Frother.

Order forms are available in Maybank’s 79 branches nationwide. Accomplished forms may be sent through any of the following:

  • Snail Mail: c/o Brand Management and Marketing Department Maybank Corporate Centre, 7th Ave. cor. 28th St., Bonifacio High Street Central Bonifacio Global City, Taguig City
  • Email: brandmanagementandmarketing@maybank.com.ph
  • Fax: (02) 720-9571

Payments may be settled via over-the-counter deposit at any Maybank branch; Fund Transfer via M2U Internet Banking; or through fund transfer via bancnetonline.com.ph.

Account Name: Next Coffee Frontier Inc.
Account Number: 00635003425
Bank/ Branch: Maybank Greenhills Branch

The promo will run until March 31, 2015.