Kuala Lumpur, 17 June 2011
Kuala Lumpur, 17 June 2011 - Hong Leong Bank Berhad ("HLBB") wishes to announce that the High Court had today 17 June 2011, granted a Vesting Order transferring the entire business including all assets and liabilities of EON Bank Berhad to HLBB with effect from 1 July 2011. Following the vesting, EON Bank Berhad will become a dormant company.
"The granting of the Vesting Order is a key step towards merging the operating businesses of both banks. While it is effective from 1 July 2011, it will continue to be business-as-usual for customers and business associates of both banks until further notice. Uninterrupted service and seamless continuity of our banking operations at both banks will continue.
Like all bank mergers, the full integration process will take time before we can truly operate on a single platform. The merger is making solid progress at this stage, and we have forged very good camaraderie between the two banks in a very short time. These are exciting times for all of us and the new senior leadership team is focused, passionate and committed to the success of this merger. This is a growth merger for all stakeholders," commented Ms. Yvonne Chia, Group Managing Director / Chief Executive.
Press Release - 17/06/2011