We refer to the Company’s announcements dated 28 September 2020 and 19 October 2020 with regard to the Decision by Malaysia Competition Commission (“MyCC”) against the Company’s general insurance subsidiary, Allianz General Insurance Company (Malaysia) Berhad (“AGIC”) and the lodgement of a Notice of Appeal with the Competition Appeal Tribunal (“CAT”) by AGIC against MyCC’s Decision, respectively.

The Board of Directors of the Company wishes to announce that AGIC had on 23 October 2020 filed a Stay Application with the CAT pursuant to Section 53 of the Competition Act 2010 for the grant of a stay of MyCC’s Decision particularly in respect of the financial penalty imposed on AGIC. 

This announcement is dated 28 October 2020.