We wish to announce that the Board of Directors of SCB (“Board”) has today received a letter from its major shareholder, Suiwah Holdings Sdn Bhd and parties acting in concert, requesting for SCB to undertake a selective capital reduction and repayment exercise pursuant to Section 116 of the Companies Act 2016 (“Act”) (“Offer” or “Proposed SCR”). The Proposed SCR entails a capital repayment which is equivalent to a cash amount of RM2.80 per ordinary share each in SCB held by the entitled shareholders of SCB on an entitlement date to be determined later.

The Offer will remain open for the Board’s acceptance until 5.00 p.m. on 11 February 2019. The non-interested directors will deliberate on the Proposed SCR and upon consultation with an Independent Adviser to be appointed will decide on the next course of action. Accordingly, a further announcement will be made in due course.

Please refer to the letter of Offer for further details on the Proposed SCR.

This announcement is dated 25 January 2019.