PP190007/06/2016(034514) No. 141 ambankgroup.com

JANUARY – MARCH 2018

AmBank Group Hosts Chinese New Year

2018 Open House

AmInvestment Bank bags awards at The Asset Triple A Country Awards, 11th Best Deal & Solution Awards and Islamic Finance News Awards (Pg10)

inside

• AmBank Group Reports Net Profit of RM878.7 million for 9MFY18(Pg5)

Raja Teh Maimunah of AmInvestment Bank named Women Icon Malaysia 2017 (Pg13)

AmBank Group Hosts Chinese New Year

2018 Open House(Pg 22-25)

Congratulations to our various entities within the AmBank Group that have been winning awards and accolades which are also great for our image as we strive for excellence. However, what is even more important is our performance, for example in terms of profitability as measured by Return on Equity (ROE).

The performance results for the 9 months ended 31 December 2017 continue to show that we are “underperforming” compared to our peers in the industry. On ROE at 7.1% is the worst ever (except for one year 1998 during the Asian Financial Crisis). Our share price today is also at its lowest (except for 1998). As at 20 April 2018, it was around RM3.85 compared to the 31 December closing price of RM4.41 per unit. Clearly all of us AmBankers have to “pull up our socks” and do our very best for the next 12 months ending 31 March 2019 to improve our performance and profitability.

The good news is that there are signs that we are improving and in the right direction – but our competitors are moving faster and better. So we must “up the pace” and show much

improvement especially for the next 12 months.

While we move more aggressively forward, we should still be guided by being accountable, complying with rules and regulations and delivering our efforts and services with excellence.

AmBankers have already shown commitment and willingness to do the “necessary”. Let us hope that my future Chairman’s messages will show the results that we all are striving for.

There have been some changes in our Board composition.

I am pleased to welcome Mr Cho Horng Fatt who has been appointed the new Chairman of AmMetLife Insurance Berhad with effect from 1 January 2018. I would like to also welcome Penelope (Penny) Gan as our new Group Chief Human Resource Officer.

During this same period, we had three distinguished Directors stepping down from the Boards of AMMB Holdings Berhad, AmBank Islamic Banking and AmInvestment

Bank Berhad respectively. These Directors are Mr Wasim Akhtar Saifi (AmBank Islamic Berhad), Ms Suzette Margaret Corr (AMMB Holdings Berhad) and Dato’ Rohana Tan Sri Mahmood (AMMB Holdings Berhad and AmInvestment Bank Berhad). They have contributed meaningfully to improving the Bank during their tenure and I wish them well in their future endeavours.

To all AmBankers, I would like to, once again, thank you for your continued support and dedication. I am confident that with our collective efforts, we will be able to continue to grow and gain momentum in achieving our goals.

Tan Sri Azman HashimChairmanAmBank Group

2 message

AmBank Group at a Glance

Editor: Syed Anuar Syed Ali, Head, Group Corporate Communications and Marketing, AmBank Group

Contributors: Engku Ili Hanisah Engku Zainal Abidin, Sheila Md Diah, Somesh Naidu, Mohamed Radzi Ali and Jeevanaraj Pariyadan.

Published by AmBank (M) Berhad (Company No. 8515-D) Design & Production: Duocore Creatives

MARKET CAPITALISATION

RM14.0 billionSHARE PRICE

RM4.41 per unitAS AT 31 DECEMBER 2017

TOTAL ASSETS

RM142.8 billionSHAREHOLDERS’ EQUITY

RM16.3 billionAS AT 31 DECEMBER 2017

NO. OF EMPLOYEES

10,834BRANCH NETWORK

175AS AT 31 MARCH 2018

I am confident that with our collective efforts, we will be able to continue to grow and gain momentum in achieving our goals.

Hi AmBankers,Another year has passed and we have embarked on

a new financial year. Whilst we are observing growth in many areas, there is still plenty to be done in our journey towards our Top 4 aspiration.

For the 9 months ended 31 December 2017, AmBank Group recorded a total income of RM2,908.4 million, which marks a YoY growth of 5.4%. Profit before provision (PBP) was up by 3.0% to RM1,215.9 million. The encouraging growth was driven by consistent growth momentum in net interest income, (NII). Since our appointment as Amanah Saham Nasional Berhad’s agent, our fee and commission income from unit trust has increased by 20.7% YoY, propelled by higher commission earned from the sale of unit trust. For their excellent efforts, our ASB team received 8 awards including the Inspirational Star Award at the PNB-ASNB Starz Awards 2017 recently.

On the balance sheet, our loans and financing base has expanded by 4.1% YTD since 31 March 2017 to RM94.7 billion supported by consistent growth in our targeted segments. Mortgage loans grew 16.4% YTD or by RM3.6 billion to RM25.5 billion while SME loans grew a robust 12.4% YTD to RM15.8 billion. Our credit card receivables also recorded double digit growth of 13.3% YTD to RM1.9 billion. Apart from that, deposits from customers increased from RM6.0 billion or 6.4% YTD to RM99.9 billion. Current accounts and savings accounts (CASA) which collectively make up our lower cost deposits, expanded by 0.8% YTD.CASA composition is at 20.0% due to our enlarged deposit base.

We will be announcing our FY’18 Q4 financial results in May. Until then, we can look back at the last financial year and be proud of our progress and achievements.

1. DigitalThere has been exciting progress in our digital journey. With the ongoing developments and enhancements of the new AmOnline, we aim to on-board many more customers to bank with us virtually. There are currently more than 400,000 AmOnline users with an average of one thousand customers on-boarded each day. We are now at the development stage of a virtual assistant chatbot service. This chatbot will enable us to provide smooth, round-the-clock customer support to our customers. E-wallet is another interesting initiative that we are exploring at the moment. We are in talks with wallet providers as we gear up to tap into the exciting

opportunities that potential collaborations can bring in terms of speed to market and multiplier effect benefits. These are indeed exciting developments on our digital front, and I look forward to sharing more with you as we progress.

We are also embarking on design thinking and agile work practices within the Group. We have brought in experts in this area to conduct workshops recently, starting with the senior management team and selected groups. The workshops focused on human-centric approaches to innovation and problem solving. Through the workshop, participants learnt the fundamentals of design thinking and agile principles, which emphasise a ‘customer first’ approach.

There will be more internal awareness and formal training for our people in design thinking and agile delivery, as we transform into an organisation with high agility in terms of structure, processes, people and technology.

2. PeopleTalent continues to be a critical thrust force in our Top 4 journey. The development of our people as well as growing and retaining talents are important and we will continue to put great focus and invest in this area. The recent promotions of Shamsul Bahrom Mohamed Ibrahim as our Group Chief Internal Auditor and Penelope Gan as our Group Chief Human Resource Officer bear testament to the Group’s continued belief in investing and growing our people.

Our leadership programs, BATMAN, ELP and LEAP now have more than 120 participants enrolled. Our top performing participants have undergone regular training sessions since we introduced these programs last year and will continue to sharpen their leadership capabilities and skills in the remaining months of the programs.

The AmGraduate Program which was launched in October 2016, in collaboration with the Asian Banking School has seen many capable young talents contributing in various areas across the group. The first cohort will be completing their job rotation in April 2018 and we look forward to welcoming them into their new permanent roles. We will also continue our participation in career fairs and recruit new talents from both universities locally and abroad to sustain our talent pipeline.

3. Service at AmBank GroupAs we aim to become the Top 4 bank, we must not forget that service is very important for us as a bank.

3Message from Group Chief Executive Officer

There are currently more than 400,000 AmOnline users with an average of 1,000 customers on-boarded daily.

The development of our people as well as growing and retaining talents are important and we will continue to put great focus and invest in this area.

Our customers are always strong advocates of our brand. Hence, we must continue to offer not just great customer experience, but it is imperative that the service we provide our customers with must be consistent. To ensure that

our staff are trained to deliver this, a dedicated service training centre – AmBank @ BEST has been set up in SS2, Petaling Jaya. BEST represents ‘Building Excellent Service Talent’. At this training centre, participants are trained in processes, policies, service and cross-selling via a blended training programme incorporating both classroom and on-the-job (OTJ) training. The OTJ training is conducted at the SS2 branch which is poised to be our first model branch.

I would also like to thank all our branch staff who have spent many past weekends at branches servicing our customers. Weekend banking at AmBank has now ceased operations as at end March, except for two branches at the following malls i.e. Berjaya Times Square and Alamanda, Putrajaya – both in the Klang Valley.

4. RecognitionWe continue to receive recognition and awards from the industry in various areas. To name some of these awards, we won the Excellence Award for CG Disclosure and Merit Award for Best AGM at the ‘MSWG-ASEAN Corporate Governance Recognition 2017’ ceremony last December. I am proud that our efforts to maintain high standards of corporate governance practices within our workplace have been duly recognised.

Earlier this year, AmInvestment Bank won three awards i.e. the Best Loan Advisor, Best IPO and Best Bank Capital Bond at ‘The Asset Triple A Country Awards’ in Hong Kong. Just recently, we received awards from Asia Asset Management at its ‘Best of the Best Awards 2018’, for Malaysia’s Exchange Traded Funds (“ETF”) Manager of the Year (second time in a row!) and Islamic Institutional House of the Year.

Internally, we will also continue to recognise our staff for their successful achievements in sales and services. In February, 36 of our top performing staff

received recognition for the ASBF Sales Q3 Campaign at a simple awards ceremony in KL. We have also welcomed two of our branches into our ‘Deposit Billion Ringgit Club’ for achieving the RM1 billion mark in deposits. Well done SS2 and Kepong branch teams!

5. Moving Forward Into FY’19We have crafted our FY19 Strategy in February at a strategy session with my c-suite and more than 100 staff from the senior management team, followed by a similar session with the Board of Directors. We will continue to innovate and streamline our processes, systems and organisation, as we set out to achieve our targets. We will also manage cost diligently through BET300, a 3-year programme which aims to achieve RM300 million cost efficiencies across the group. KPIs for FY19 will be cascaded soon to all staff.

We must also remember to always “Do the right thing” for AmBank Group and our stakeholders – both internally and externally. We have officially launched our Code of Conduct in March. The Code of Conduct is intended to guide you in conducting appropriate ethical behaviour and decision making. I strongly urge all of you to understand the Code of Conduct, internalise and practice it.

As one formidable team – let’s work towards achieving our Top 4 aspirations with enthusiasm and laser sharp focus this coming financial year.

4 Message from Group Chief Executive Officer

To ensure that our staff are trained to deliver great customer experience, a dedicated service training centre – AmBank@BEST has been set up.

I am proud that our efforts to maintain high standards of corporate governance practices within our workplace have been duly recognised.

We must also remember to always “Do the right thing” for AmBank Group and our stakeholders – both internally and externally.

Thank You

Dato’ Sulaiman Mohd TahirGroup Chief Executive Officer AmBank Group

AMMB Holdings Berhad (AmBank Group or the Group) announced the financial results for the 9 months ended 31 December 2017 (9MFY18).

Dato’ Sulaiman Mohd Tahir (Dato’ Sulaiman), AmBank Group Chief Executive Officer said, “I am pleased to announce that AmBank Group recorded an encouraging total income of RM2,908.4 million for the 9 months ended 31 December 2017. NII increased by RM149.0 million (+8.8%) mainly from customer lending and interest on fixed income securities.

The 5.4% YoY growth in total income was underpinned by consistent growth momentum in NII. Interest income from customer lending was boosted by several factors, primarily, robust growth recorded in residential mortgages as well as increased interest income from securities. In addition, cost of funds was lower mainly as a result of the repayment of medium term debt and from diversifying our funding sources towards Retail deposits.

Given our appointment as Amanah Saham Nasional Berhad’s agent, fee and commission income from unit trust increased 20.7% YoY propelled by higher commission earned from the sale of unit trust. Investment and trading income was slightly impacted by lower foreign exchange income. In addition, last year’s results included a significant fixed income trading gain. Other income increased 90.1% YoY.”

Summary of 9MFY18 Results¹•Totalincomeup5.4%toRM2,908.4millionunderpinnedbygoodgrowthinnetinterestincome(NII)(+8.8%).Netinterestmargin(NIM)broadlystableYoYat1.98%

•Expensesup7.3%,impactedbyRetailoperationallossesandinvestmentforgrowthandcompliance

•Profitbeforeprovision(PBP)up3.0%toRM1,215.9million

•NetimpairmentchargeofRM32.9million(9MFY17:NetrecoveryofRM179.5million)asrecoveriesarelowerYoYasloanimpairmentnormalised

•Netprofitaftertaxandminorityinterests(PATMI)atRM878.7million(-11.1%)

•Returnonequity2(ROE)of7.2%,returnonassets2(ROA)of0.93%andearningspershare3(EPS)of29.22sen

•Cost-to-income(CTI)ratioat58.2%(+1.0%)

•Grossloansandfinancinggrew4.1%year-to-date(YTD)toRM94.7billionwithMortgagesgrowing15.2%andSmallandMediumEnterprises(SME)loansgrowthat12.4%YTD

•Grossimpairedloans(GIL)ratiolowerat1.77%(-9bpsYTD)withhigherloanlosscoverageat101.6%(+21.9%YTD)

•CommonEquityTier-1(CET1)Capitalratioat11.3%,TotalCapital4ratioat16.1%

Note:

¹ All growth percentages computed on year-on-year (YoY) 9MFY18 vs 9MFY17 basis unless otherwise stated

² On an annualised basis

³ Reference made to basic earnings per share

4 After deducting proposed dividends, based on aggregated banking entities

AmBank Group Reports Net Profit of RM878.7 million for 9MFY18

5business

H1FY18 Results (cont’d)

Dato’ Sulaiman added, “Our loans and financing base expanded 4.1% YTD since 31 March 2017 to RM94.7 billion supported by consistent growth in our targeted segments. Mortgage loans grew 16.4% YTD or by RM3.6 billion to RM25.5 billion while SME loans grew a robust 12.4% YTD or by RM1.7 billion to RM15.8 billion. Our credit card receivables also recorded double digit growth of 13.3% YTD to RM1.9 billion.”

“As a result of our strategic focus on accelerating the growth of our higher margin products, the optimisation of our funding mix as well as the diversification of our portfolio, NIM has improved to 1.98% from 1.96% a year ago.

Deposits from customers increased RM6.0 billion or 6.4% YTD to RM99.9 billion. This was predominantly driven by the diversification of our customer base to enhance funding resiliency. Current accounts and savings accounts (CASA) which collectively make up our lower cost deposits, expanded by 0.8% YTD. CASA composition at 20.0% due to our enlarged deposit base.”

“CTI stood at 58.2%. The increase in expenses was largely attributable to investments in new capabilities and compliance. Personnel cost increased by RM73.2 million (+8.5% YoY) mainly from expansion of our new growth segments and salary increment. General administrative expenses were higher driven by compliance initiatives and also a one-off charge for Retail operational losses.”

“As guided previously, we expect credit costs to normalise. For 9MFY18, the Group recorded an annualised credit cost of 0.04% attributable to higher allowance for certain individually assessed borrowers and lower recoveries mitigated by lower allowance provided on collective basis. Loan loss coverage was higher at 101.6% while GIL ratio improved to 1.77% as compared to 1.86% as at 31 March 2017.

On liquidity and capital, our banking subsidiaries maintained liquidity coverage ratios in excess of the regulatory minimum requirements. The Group’s aggregated capital adequacy ratio remains adequate at 16.1%.”

Speaking on some of AmBank Group’s new initiatives for Q3FY18, Dato’ Sulaiman updated that, “In November 2017, we launched SME Biz Property Extra in collaboration with CGC. SME Biz Property Extra is a partially secured financing package that comes with 70% of CGC’s portfolio guarantee coverage and it is the first of its kind in the market. With CGC’s guarantee, we are able to provide approved applicants with higher term loan facilities and faster financing approval.

AmBank introduced Mobile Application Terminal (MAT) in December 2017, another first of its kind in the Malaysian auto industry market. MAT provides Auto Finance Instant Approval by allowing users to submit loan applications, capture documents’ images as well as obtain immediate approval within 30 minutes if all required conditions are fully met. MAT offers a new level of customer experience and we aim to strengthen our brand presence in the auto industry market by positioning AmBank as the “top-of-mind” brand amongst car buyers.

December 2017 also saw the launch of AmGeneral Insurance’s All Risks 365, yet another innovative product aimed at the property and business sector. Following the Phased Liberalisations of Motor and Fire Tariff introduced by Bank Negara Malaysia, All Risks 365 provides customers with a broader range of optional covers available for selection with new features and benefits on top of the current tariff coverage. For the first time, All Risks 365 provides Full Accidental Destruction or Accidental Damage as automatic standard cover for Building and Stock in Trade.”

NII will continue to drive our top line growth with mortgage, SME, Credit card loans maintaining their growth momentum.

6 business

Divisional performance1

Wholesale BankingTotal income registered an increase of 3.1% YoY to RM1.0 billion.

NII grew 5.0% YoY to RM554.5 million supported by Transaction Banking and higher interest income from investment in fixed income securities. NOII was flat YoY as lower trading and investment income was mitigated by gains from the sale of foreclosed properties.

Operating expenses up 2.5% YoY to RM384.1 million. Net impairment stood at RM42.6 million as compared to net recovery of RM118.7 million a year ago due to specific allowance and lower recoveries.

Gross loans and financing decreased 4.3% YTD to RM34.8 billion. Deposits from customers fell 11.3% YTD from lower corporate term deposits.

Business BankingBusiness Banking achieved another quarter of strong top line growth reflecting our focus on our Top 4

strategy. Income was up 18.7% YoY to RM190.5 million supported by both NII (+19.8% YoY) and NOII (+15.4% YoY).

Operating expenses rose in tandem with business expansions, reflecting our investments in new business banking centres and a larger dedicated sales force. Net impairment stood at RM32.5 million and profit after tax was at RM72.8 million as a result of higher operating expenses and higher provisions.

Gross loans and financing expanded strongly at 20.2% YTD to RM7.1 billion. Deposits from customers grew 22.5% YTD to RM4.0 billion.

Retail BankingTotal income increased 7.4% YoY to RM1.1 billion. NII grew 2.2% YoY

driven by good growth in Mortgages and Retail deposits. In NOII we benefitted from a one-off gain from revaluation of an investment as well as from the continued emphasis on Wealth Management (+41.8% YoY).

Operating expenses was 8.5% higher YoY from personnel-related expenses (+11.6% YoY) and operational losses. Net impairment stood at RM41.6 million (9MFY17: RM2.7 million) largely due to lower recoveries, partially offset by lower allowances.

Gross loans and financing increased 8.4% YTD to RM52.9 billion with contribution from Mortgages, Retail SME, Personal Financing and Cards. Retail deposits grew 17.7% YTD to RM46.9 billion mainly from fixed deposits.

General InsuranceGeneral Insurance business reported a net earned premium of RM1,051.0 million, a decrease of 2.8% YoY due

to lower gross written premium reflective of the weaker industry vehicle sales sentiment. General insurance claims saw a corresponding reduction of 3.4% YoY to RM639.6 million. Overall income was up 6.0% YoY to RM434.8m underpinned by higher trading and investment income.

Operating expenses rose 3.2% YoY to RM258.2 million mainly attributable to higher amortisation charges relating to de-tariffication. Loss ratio reduced to 60.9% from 61.2% a year ago. Profit after tax was up 15.1% YoY to RM147.0 million.

Life Insurance and Family TakafulLife Insurance business increased its net earned premium by 24.2% YoY to

RM283.5 million whilst insurance claims saw a corresponding increase of 22.7% YoY. The business reported a loss after tax of RM15.6 million due to higher loss on actuarial valuation.

Family Takaful recorded an increase in net earned premium of 61.9% YoY to RM55.3 million. Actuarial valuation losses increased to RM36.6 million resulting in a loss after tax position of RM10.7 million compared to the loss after tax of RM8.0 million recorded for 9MFY17.

The Group has equity accounted the results of the Life Insurance and Family Takaful businesses to reflect the Group’s effective equity interests in the joint ventures. The Group’s share of losses from the joint ventures stood at RM13.2 million.

7business

Income increased

by 3.1% YoY to

RM1.0 billion

Income up by

6.0% YoY to

RM438.8 million

Loss stood at

RM13.2 million

Income climbed

by 18.7% YoY to

RM190.5million

Income up by 7.4%

YoY to RM1.1 billion

H1FY18 Results (cont’d)

Islamic BankingThe Group’s Islamic Banking business forms an integral part of the Wholesale

Banking, Business & SME Banking and Retail Banking divisions. It aspires to add further value to the Group by offering differentiated shariah-compliant financial solutions. Islamic Banking business recorded an income growth of 13.0% driving profit before provision up 23.2% YoY. This is partially offset by an increase in provisions, with PATZ up 13.8% YoY.

Prospects for financial year ending 31 March 2018Malaysia’s Gross Domestic Product (GDP) grew strongly in 2017 by 5.9% (2016: 4.2%) supported by private consumption benefitting from healthy wages and income support measures, infrastructure spending, strong exports on the back of improving global demand, firm commodity prices and private investment. The economy is projected to continue expanding favorably in 2018 by 5.5% aided by private expenditure, infrastructure spending, more business-friendly regulatory environment and exports.

Meanwhile, inflation is expected to be at 2.5%-2.8% in 2018 (2017: 3.8%) on the back of firmer Malaysian Ringgit against the US Dollar, stable oil and commodity prices, fading cost-push pressures and base effect.

The banking system registered a decent growth in 2017 mainly from mortgage loans for affordable homes as well as business loans in particular infrastructure and exports that is benefitting from improving global growth and firmer commodity prices. Loans growth for 2017 was 4.1%. For 2018, we project loans to grow circa 5% in line with GDP growth of 5.5% in 2018.

Banks have sufficient liquid assets with an industry liquidity coverage ratio of 134% as at end December 2017, well above the regulatory requirement of 100.0%. Funding profiles of banks have been well diversified with the industry’s loan-to-fund ratio and loan-to-fund and equity ratio standing at 84.0% and 73.7% respectively as at December 2017.

We foresee the banks’ NIM to improve modestly in 2018 as a result of the banks’ repricing their loans to compensate for higher provisioning under MFRS 9 and milder pressure on banks’ funding cost from deposit competition.

Following Bank Negara’s 25bps rate hike in January, we believe the central bank will adopt the ‘wait-and-see’ attitude to determine the need to further reprice the policy rate which is at 3.25%. A key point highlighted in the Bank Negara’s MPC is that the economy is on a firm growth path and we believe the normalisation rate is around 3.50%.

Speaking on the Group’s earnings outlook for FY18, Dato’ Sulaiman guided that, “NII will continue to drive our top line growth with mortgage, SME, Credit card loans maintaining their growth momentum. NOII from investment banking and money market activities may still be lumpy but Wealth Management, Corporate and Commercial Banking will continue to propel NOII growth. We expect credit cost to continue to normalise for us with reduced recoveries relative to FY17 as impairment allowances are expected to commensurate with our loans growth. We will continue to manage our funding mix, grow CASA and diversify our portfolio for sustainable NIMs. Our capital position is constantly being assessed and we continuously strive to improve its efficiency.”

As part of the AmBank Group’s 4-year strategic transformation agenda and our ongoing efforts to pare down costs and enhance operational efficiency, we have now streamlined and centralised some of our processes. As a result, we were able to offer a Mutual Separation Scheme (MSS) to employees in January 2018. This scheme is offered purely on a voluntary basis and provides eligible employees the opportunity to self-identify their willingness to voluntarily part ways with the Group. The MSS allows us to further optimise the Group’s organisational structure and in the long run, translate into greater savings and efficiency.” concluded Dato’ Sulaiman.

8 business

Income growth

of 13.0% YoY

Mr Cho Horng Fatt has been appointed as the new Chairman of AmMetLife Insurance Berhad (“AmMetLife”) with effect from 1 January 2018. He has been a member of the Board of Directors of AmMetLife since 2010.

Mr Cho has more than 30 years of experience in the Life and General Insurance Industry. He has wide

Appointment of Chairman – AmMetLife Insurance Berhad

experience covering Sales & Distribution, Marketing, Operations, Life Strategic Business Unit and Corporate Governance. He holds a Bachelor of Science degree with Honours from the University of London and a Postgraduate Diploma in Education from the University of Malaya. He is also a Member of the Malaysian Institute of Management.

A farewell lunch was held in honour of AmBank Group’s Chief Human Resource Officer, Uji Sherina Abdullah on Wednesday, 24 January 2018 at the Banquet Hall, Level 25, Bangunan AmBank Group. The farewell lunch was attended by Tan Sri Azman Hashim, Chairman, AmBank Group and Senior Management of AmBank Group. Puan Uji Sherina joined AmBank Group on 1 June 2015.

AmBank Group Bids Farewell to Uji Sherina Abdullah

9appointment / farewell

Raja Teh Maimunah Raja Abdul Aziz, Chief Executive Officer, AmInvestment Bank and

Managing Director, Wholesale Banking, AmBank Group said,“2017 saw a continuation

of our journey towards becoming Malaysia’s leading investment banking group.

AmInvestment Bank remains committed on delivering the best ideas for our clients,

and are determined to maintain our momentum over the coming year.”

The Asset Triple A Country Awards 2017

1. Best Loan Adviser2. Best IPO

Serba Dinamik Holdings Berhad’s RM671.7 million IPO – AmInvestment Bank acted as a Joint Underwriter.

3. Best Bank Capital BondAffin Bank Berhad’s RM1 billion Basel III compliant tier 2 capital – AmInvestment Bank acted as a Joint Lead Manager and Joint Bookrunner.

10 award

AmInvestment Bank bags awards atThe Asset Triple A Country Awards, Islamic Finance News Awards and 11th Best Deal & Solution Awards.

L-R: Gan Kim Khoon, Executive Vice President/Head,Equity Markets, AmInvestment Bank, Janice Teoh, Assistant Manager, Capital Markets Group, AmInvestment Bank and Yeoh Teik Leng, Senior Vice President, Capital Markets Group, AmInvestment Bank at The Asset Triple A Country Awards held on Wednesday, 17 January 2018 in Hong Kong.

11th Best Deal & Solution Awards 2017

1. Best Assets-Backed Securitisation Deal in Southeast Asia Al Dzahab Assets Berhad’s Sukuk Murabahah Assets-Backed Securitisation Programme of RM900 million as one of the Joint Principal Advisers, Joint Lead Arrangers and Joint Lead Managers.

2. Best Musharakah Deal in Southeast Asia Sarawak Energy Berhad’s RM1 billion Sukuk Musharakah issuance as the Sole Lead Manager.

3. Best Mid-Cap Equity Deal in Southeast Asia Serba Dinamik Holdings’ RM671.7 million (equivalent USD151.3 million) IPO as one of the Joint Underwriters.

4. Best Secondary Deal in Southeast Asia IOI Properties Group’s RM1.5 billion Secondary Offering as one of the Sole Principal Adviser.

11award

Islamic Finance News (IFN) Awards 2017

1. Commodity Murabahah Deal of the Year Joint Principal Adviser, Joint Lead Arranger and Joint Lead Manager for Danajamin’s RM500 million Tier 2 Sukuk Murabahah.

L-R: Ho Weng Yew, Executive Vice President/Head, Corporate Finance, AmInvestment Bank, Yeoh Teik Ling, Senior Vice President, Capital Markets Group, AmInvestment Bank, Goh Wee Peng, Acting Chief Executive Officer of AmInvest, Chean Pei Chen, Senior Vice President, Wholesale Banking Coverage, AmBank Group, Raja Teh Maimunah Raja Abdul Aziz, Chief Executive Officer, AmInvestment Bank and Managing Director, Wholesale Banking, AmBank Group, Seohan Soo, Executive Vice President, Capital Markets Group, AmInvestment Bank Berhad and Gan Kim Khoon, Executive Vice President/Head, Equity Markets, AmInvestment Bank at the Islamic Finance News (IFN) Awards 2017 held in Kuala Lumpur on Thursday, 19 March 2018.

L-R: Suresh Venugopal Menon, Senior Vice President, Wholesale Banking Coverage, AmBank Group, Gan Kim Khoon, Executive Vice President/Head, Equity Markets, AmInvestment Bank, Chean Pei Chen, Senior Vice President, Wholesale Banking Coverage, AmBank Group, Yvonne Chan Yee Kwan, Senior Vice President, Wholesale Banking Coverage, AmBank Group, Yeoh Teik Ling, Senior Vice President, Capital Markets Group, AmInvestment Bank, Ho Weng Yew, Executive Vice President/Head, Corporate Finance, AmInvestment Bank, Wan Marina Jamil, Executive Vice President, Wholesale Banking Coverage, AmBank Group, Jeanie Lim, Senior Vice President, Corporate Finance, AmInvestment Bank, Salina Mohd Burhan, Senior Vice President, Capital Markets Group, AmInvestment Bank, and Chang Zhuo Bin, Senior Manager, Corporate Finance, AmInvestment Bank at the 11th Best Deal & Solution Awards 2017 held in Kuala Lumpur on Tuesday, 13 February 2018.

AmMetLife Takaful awarded Innovation Award for iMeriah

AmInvest Named

Malaysia’s ETF Manager of the Yearfor the Second Time and

Islamic Institutional House of the Year

Noor Azam bin Mohd Yusof, Chief Executive Officer, AmMetLife Takaful with the Innovation Award presented for iMeriah at the Takaful Star Nite 2018.

AmMetLife Takaful Berhad (“AmMetLife Takaful”) was presented the Innovation Award for iMeriah at the Takaful Star Nite 2018 organised by Malaysian Takaful Association (“MTA”) at the Sime Darby Convention Centre, Kuala Lumpur on Friday, 23 March 2018. AmMetLife Takaful was the sole award recipient for the Innovation Award category. Takaful StarNite 2018 is an annual event held by the takaful industry to recognise and celebrate the achievements in the industry.

“This Innovation Award by MTA validates iMeriah as a unique and innovative Takaful plan. We are proud to be the first modern Takaful provider to make possible this innovative and first in market type of claims disbursement that has fundamentally changed the value proposition we offer to the consumers. This achievement is a milestone indeed for AmMetLife Takaful. The subscription of iMeriah has exceeded our expectation, hence it is a testament to the innovativeness of this product.

I would like to take this opportunity to show my highest appreciation to our partner, MYDIN Mohamed Holdings for their undivided commitment in collaborating with us and to all valued Meriah card holders – thank you for your trust and support. This award would certainly spur us further to continue finding new ways to make Takaful coverage hassle free and accessible to all Malaysians,” said Noor Azam bin Mohd Yusof, Chief Executive Officer, AmMetLife Takaful Berhad.

“We are proud to be the first modern Takaful provider to make possible this innovative and first in market type of claims disbursement that has fundamentally changed the value proposition we offer to the consumers. This achievement is a milestone indeed for AmMetLife Takaful.”

Noor Azam bin Mohd Yusof, Chief Executive Officer, AmMetLife Takaful Berhad

“We are honoured and very delighted to be recognised again this year for our expertise in managing ETFs as well as mandates and funds for our Islamic institutional business segments.”

Goh Wee Peng, Acting Chief Executive Officer, AmInvest

12 award

Goh Wee Peng (left), Acting Chief Executive Officer, AmInvest receiving both awards from Tan Lee Hock, Founder and Publisher, Asia Asset Management at an award ceremony held in Hong Kong.

Raja Teh Maimunah Raja Abdul Aziz, Chief Executive Officer, AmInvestment Bank and Managing Director, Wholesale Banking, AmBank Group (left) receiving the Women Icon Malaysia 2017 from Jessica Tong, Editor in Chief, Asia Success Inc. Branding Magazine (middle) and Datuk Dr Jacob Thomas, Chairman, Ramsay Sime Darby Health Care Sdn Bhd (right).

Raja Teh Maimunah of AmInvestment Bank named

Women Icon Malaysia 2017

For the second year in succession, AmInvest has been named Malaysia’s Exchange Traded Funds (“ETF”) Manager of the Year. Additionally this year, AmInvest’s Shariah-compliant business received top honours as Malaysia’s Islamic Institutional House of the Year. Both recognitions were awarded by Asia Asset Management in its 2018 Best of the Best Awards held in Hong Kong on Friday, 23 March 2018.

Acting Chief Executive Officer of AmInvest, Goh Wee Peng said, “We are honoured and very delighted to be recognised again this year for our expertise in managing ETFs as well as mandates and funds for our Islamic institutional business segments. The team has worked very hard for this track record and looking ahead, we remain focused on continuously growing our investors’ investments by not only delivering consistent investment performance, but at the same time providing investment solutions that can capitalise on opportunities in a changing world.”

Raja Teh Maimunah Raja Abdul Aziz, Chief Executive Officer, AmInvestment Bank and Managing Director, Wholesale Banking, AmBank Group was named as Women Icon Malaysia 2017 at the Women Icons Summit & Awards on Tuesday, 30 January 2018 at Renaissance Hotel, Kuala Lumpur.

Raja Teh Maimunah has over 23 years of experience in banking and finance, focusing on areas of Islamic and investment banking. She was awarded an Honorary Doctorate of Law from the University of East London, United Kingdom and also holds an LLB (Hons) from the same university. She is the Adviser on Islamic Banking and Finance to the World Islamic Economic Forum Foundation, a Board Member of Islamic Banking and Finance Institute Malaysia (IBFIM), and a member of the Islamic Finance Committee

for the Malaysian Institute of Accountants.

The Women Icons Summit & Awards is organised by the Business Excellence & Research Group Pte Ltd (BERG), a Singapore-headquartered entity committed to nurturing and promoting business excellence across diverse sectors. The Awards celebrates and honours the accomplishments and contributions of women who have excelled in different spheres of life. The initiative underscores the paramount role played by women in society, while appreciating their attitudes, initiatives, will power and perseverance. The Women Icons are those who have distinguished themselves as prominent citizens, who have displayed a strong mettle and capability to perform well in any field of endeavour.

13award

Star Outstanding Business Awards (SOBA) 2017

AmBank continues to be one of the main sponsors for the Star Outstanding Business Awards (SOBA) 2017 which is into its eight edition. SOBA has established itself as an awards ceremony which SMEs are keen to be associated with. AmBank chose to be the main sponsor of SOBA as it believes in the importance of

recognising the roles and contributions of outstanding local Malaysian businesses towards the nation and the economy. Together with SOBA, AmBank hopes to encourage, inspire and help home-grown companies achieve excellence in their businesses and AmBank wants to be a part of their success stories.

AmBank chose to be the main sponsor of SOBA as it believes in the importance of recognising the roles and contributions of outstanding local Malaysian businesses towards the nation and the economy.

14 business

Christopher Yap, Managing Director, Business Banking, AmBank Group (second from left) receives the certificate of appreciation on behalf of AmBank Group at the Star Outstanding Business Awards (SOBA).

L-R: Mohd Shahreen Madros Chief Executive Officer, MATRADE, Datuk Mohd Zamree Mohd Ishak, President and Chief Executive Officer, Credit Guarantee Corporation, Christopher Yap, Managing Director, Business Banking, AmBank Group, Ho Wai Loon, Managing Director, ABBE Group (M) Sdn Bhd, Datuk Seri Ong Ka Chuan, International Trade and Industry Minister II, Datin Cindy Choh, Chief Executive Officer and Chief Financial Officer, Proguard Technologies (M) Sdn Bhd, Datuk Lee Ngai Mun, Chief Operating Officer, Proguard Technologies (M) Sdn Bhd, Darien Mah, Chief Executive Officer, Forefront Studio, Datuk Seri Wong Chun Wai, Managing Director and Chief Executive Officer, Eugene Teh, Chief Business Officer, Digi and Lim Kah Cheng, Chief Strategy Officer, Human Resources Development Fund (HRDF) at the Star Outstanding Business Awards (SOBA) on Tuesday, 16 January 2018.

Syed Anuar Syed Ali, Head, Group Corporate Communications and Marketing, AmBank Group (second from left) tossing the ‘yee sang’ at the Star Outstanding Business Awards (SOBA) dinner.

Karnival Kewangan KedahKarnival Kewangan Kedah was recently held at TH Hotel & Convention Centre, Alor Setar from Friday to Sunday, 19 to 21 January 2018. The three-day exhibition attracted more than 20,000 visitors which is aimed to inform and educate the public on financial matters, including products and services that can help individuals and businesses manage their financial affairs more effectively. AmBank Group participated in the exhibition and shared the latest products offerings.

15business

L-R: Anthony Chin, Deputy Managing Director, Retail Banking, AmBank (M) Berhad, Bank Negara Governor, Tan Sri Muhammad Ibrahim, Kedah State Executive Councillor for Investment, Industry and Trading, Datuk Wira Ku Abdul Rahman Ku Ismail, Tan Sri Azman Hashim, Chairman, AmBank Group, Alor Setar Mayor, Dato’ Haji Mohd Zohdi Bin Haji Saad, Dato’ Sulaiman Mohd Tahir, Group CEO, AmBank Group and Eqhwan Mokhzanee Muhammad, Chief Executive Officer, AmBank Islamic Berhad (in red shirt) at the AmBank Group booth after the launch of Karnival Kewangan Kedah on Friday, 19 January 2018.

Some of the visitors at AmBank’s booth during the Karnival Kewangan Kedah.

Lee Soon Peng (right), Regional Director, AmBank (M) Berhad presented mystery gift to a customer at the Karnival Kewangan Kedah with Sharifah Hassan, Langkawi Branch Manager, AmBank(M)Berhad (left).

Dato’ Sulaiman Mohd Tahir, Group CEO, AmBank Group (centre) and Mr Anthony Chin, Deputy Managing Director, Retail Banking, AmBank (M) Berhad (left) with some of the AmBank staff at the Karnival Kewangan Kedah.

Koay Chee Beng, Manager, District Sales-A, AmBank (M) Berhad taking a wefie with Tan Sri Azman Hashim, Chairman, AmBank Group at the Karnival Kewangan Kedah.

AmMetLife Takaful Berhad (“AmMetLife Takaful”) together with AmBank Islamic Berhad (“AmBank Islamic”) officially launched ProtectSecure-i Murni at a simple ceremony held at Bangunan AmBank Group in Jalan Raja Chulan, Kuala Lumpur on Monday, 12 February 2018. ProtectSecure-i Murni is a Shariah compliant regular contribution family takaful plan which is designed to cater specifically for Muslim needs. It provides protection against death and Total and Permanent Disability (“TPD”), additional coverage whilst performing the hajj and umrah, with waqaf, badal hajj and funeral benefits.

“We are indeed very pleased with the launch of ProtectSecure-i Murni as the plan provides for the protection needs of our Muslim customers, especially those who are performing their Hajj or Umrah,” said Dato’ Sulaiman Mohd Tahir.

ProtectSecure-i Murni pays 100% of the basic sum covered plus the balance in Participant’s Investment Fund (“PIF”) in the event of death or TPD of covered person. Additionally, under this plan another 100% of the basic sum covered will be payable should death or TPD occur whilst performing Hajj or Umrah. There is also an additional RM3,000 Badal Hajj benefit, where the nominee may appoint a wakeel to perform hajj on the participant’s behalf, ensuring the deed can be done even when the participant has passed on.

ProtectSecure-i Murni is designed to support Muslims in fulfilling their religious obligations by assisting Hajj or Umrah preparations with RM1,500 special allowance from individual’s PIF at the end of the third year. Certificate owners can also make withdrawals from their PIF at the end of the fifth certificate year to support any financial needs in their life.

“At AmMetLife Takaful, we are passionate about providing the best solution to meets our customers’ needs. In this case, ProtectSecure-i Murni is designed specifically for Muslim customers through all the benefits offered in the plan itself,” said Datuk Wira Dr. Ameer Ali Mydin.

An additional spiritual element embedded in this plan, is that it provides a waqaf payout of RM1,000 on person covered behalf to an approved waqaf organisation upon death or TPD. This special feature – waqaf payout, directly assists customers to prepare for their afterlife as on-going charity through a waqaf organisation.

This plan provides an additional RM5,000 lump sum upon death to cover funeral related expenses. ProtectSecure-i Murni is available for individuals from the age of 30 days to 60 years old and matures when the participant reaches 80 years. There are four plans available under ProtectSecure-i Murni, with contributions based on the selected plan. The product is available at all AmBank Islamic Berhad branches across Malaysia.

AmMetLife Takaful and AmBank Islamic launches ProtectSecure-i Murni

16 business

L-R: Ariff Azhan Abd Ghani, Head, Distribution and Business Development, AmMetLife Takaful, Jade Lee, Managing Director, Retail Banking, AmBank (M) Berhad, Eqhwan Mokhzanee Muhammad, Chief Executive Officer, AmBank Islamic Berhad, Dato’ Sulaiman Mohd Tahir, Group Chief Executive Officer, AmBank Group, Datuk Wira Dr Ameer Ali Mydin, Chairman, AmMetLife Takaful, Azam Yusof, Chief Executive Officer, AmMetLife Takaful, Anthony Chin, Deputy Managing Director, Retail Banking, AmBank (M) Berhad and Syed Anuar Syed Ali, Head, Group Corporate Communications & Marketing, AmBank Group giving the thumbs up at the official launch of ProtectSecure-i Murni.

Spend and Win with AmBank– Porsche Macan Up for Grabs

Spend and Win with AmBank– Porsche Macan Up for Grabs

AmBank (M) Berhad officially launched its ‘Win A Porsche’ campaign at Bangunan AmBank Group in Jalan Raja Chulan, Kuala Lumpur on Wednesday, 7 February 2018. The campaign is open to AmBank and AmBank Islamic Principal Cardholders, with the exception of debit, prepaid, corporate, commercial and insurance credit cardholders.

The five-month long contest-based campaign will allow its cardholders to stand a chance to be rewarded with the Grand Prize, a Porsche Macan or RM1,000 cashback for 150 selected winners

The launch of this campaign with the luxurious and sporty Porsche Macan is up for grabs and other rewards, further demonstrates our appreciation to our valued cardholders for their continued support and loyalty towards AmBank.

Jade Lee, Managing Director,

Retail Banking, AmBank (M) Berhad

as consolation prizes throughout the campaign period. Present at the launch was Tan Sri Azman Hashim, Chairman, AmBank Group, Dato’ Sulaiman Mohd Tahir, Group Chief Executive Officer, AmBank Group, Jade Lee, Managing Director, Retail Banking, AmBank (M) Berhad and Lenon Cheong, Head, Cards and Merchant Services, AmBank (M) Berhad.

The campaign runs from 1 December 2017 to 30 April 2018, whereby every RM50 retail spend in a single receipt on weekdays (Monday to Thursday) will earn the cardholder a single entry. Every RM50 retail spend

transaction on weekends (Friday, Saturday and Sunday) and every RM50 online retail spend in a single receipt on any day of the week will entitle cardholders for three and five entries respectively. To participate in this campaign, cardholders must enrol online (www.ambank.com.my/porsche) or via a one-time SMS to 66300 (PORSCHE<space>12-digit NRIC number). Meanwhile, good news for cardholders with new approved cards or new approved credit limit increase during the campaign period will be automatically registered and be given 10 entries.

17business

L-R: Dato’ Sulaiman Mohd Tahir, Group Chief Executive Officer, AmBank Group, Tan Sri Azman Hashim, Chairman, AmBank Group, Jade Lee, Managing Director, Retail Banking, AmBank (M) Berhad and Lenon Cheong, Head, Cards and Merchant Services, AmBank (M) Berhad at the official launch of the ‘Win A Porsche’ campaign.

Dato’ Sulaiman Mohd Tahir (front row, fifth from left), Tan Sri Azman Hashim (front row, sixth from left), Jade Lee (front row, seventh from left) with the Senior Management of AmBank Group at the official launch of the ‘Win A Porsche’ campaign.

AmMetLife Insurance Berhad (“AmMetLife”) launched its first product lined up for 2018 – WealthAssure on Friday, 23 February 2018. WealthAssure is a limited premium payment non-participating endowment and investment-linked insurance plan which offers a combination of insurance protection, savings and investment.

The launch of WealthAssure was officiated by Ramzi Toubassy, Chief Executive Officer, AmMetLife Insurance Berhad together with Tai Chee Ming, Chief Agency Officer and Ang Swee Choo, Chief Marketing Officer. Also present at the launch event were Agency Force members of AmMetLife.

WealthAssure provides Death and Total and Permanent Disability (TPD) coverage and in addition, it provides a Guaranteed Cash Payment payable every year starting from the end of policy year one. With this benefit, customers have a choice to either:• ReceivetheGuaranteedCash

Payment annually; or• InvesttheGuaranteedCashPayment

in the chosen Investment-Linked fund of their policy at 100% allocation rate.

To enable customers to enjoy potential growth and the freedom of managing their investments for this insurance plan,

WealthAssure offers customers a variety of Investment-Linked funds to choose from depending on the individual’s risk appetite. The Account Value of WealthAssure will depend on the price of the underlying units, which in turn depends on the investment performance of the customer’s chosen fund.

However in the event of death or TPD, the Basic Sum Assured plus total remaining Guaranteed Cash Payments until maturity and Account Value will be payable in one lump sum. Once the death or TPD coverage has been fully paid, the policy will be terminated.

WealthAssure also provides Additional Accidental Death Coverage up to 500% of Basic Sum Assured payable in in one lump sum on top of the Death Benefit payable if death is due to an accidental cause.

Selecting the most appropriate premium and policy term is an important factor when planning for the right protection plan. Taking this into consideration, WealthAssure customers are offered the Option to select their preferred Premium Payment Term and Policy Term. This means customers can choose their payment term from a choice of six years, 10 years, and 20 years for the respective policy term of

20 years, 25 years and 35 years.Once the policy reaches its maturity,

customers will benefit from receiving a Lump Sum Amount which consists of the Basic Sum Assured and the Account Value.

“As we work towards being the preferred life insurer of choice in Malaysia, we want to be there for our customers every step of the way. We want our clients to feel safe and protected through different stages of their lives. WealthAssure has all the essential features to provide customers an all-inclusive plan ensuring them the necessary combination of Protection, Savings and Investment. We are certain that WealthAssure will give our clients an absolute peace of mind as they pursue more from life for themselves and their loved ones” said Mr Ramzi Toubassy, Chief Executive Officer, AmMetLife Insurance Berhad.

WealthAssure is an Agency product which is distributed by AmMetLife’s strong network of life insurance agents nationwide. WealthAssure is available to individuals aged from 30 days to 60 years (next birthday) for a Policy Term of 20 and 25 years respectively. As for a Policy Term of 35 years, it is available to individuals aged from 30 days to 50 years (next birthday) only.

AmMetLife Gives You the Best of Everything– PROTECTION, SAVINGS & INVESTMENT With WealthAssure

18 business

L-R: Tai Chee Ming, Chief Agency Officer, AmMetLife Insurance Berhad, Ramzi Toubassy, CEO of AmMetLife Insurance Berhad and Ang Swee Choo, Chief Marketing Officer, AmMetLife Insurance Berhad at the official launch of WealthAssure – an all-inclusive plan for Protection, Savings & Investment by AmMetLife Insurance Berhad on Friday, 23 March 2018.

Official Launch of AmBank Group’s New Code of ConductAmBank Group’s New Code of Conduct was successfully launched on Monday, 19 March 2018 at Bangunan AmBank Group. The launch was attended by Tan Sri Azman Hashim, Chairman of AmBank Group, Dato’ Sulaiman Mohd Tahir, Group Chief Executive Officer of AmBank Group, members of the Senior Management and Department Heads across the Group.

19happenings

L-R: Jamzidi Khalid, Executive Vice President, Markets Division, AmBank Group, Jade Lee, Managing Director, Retail Banking, AmBank (M) Berhad, Anthony Dass, Head, AmBank Research (back row, first from left), Jamie Ling, Group Chief Financial Officer, AmBank Group (back row, second from left), Eqhwan Mokhzanee Muhammad, Chief Executive Officer, AmBank Islamic Berhad (back row, third from left), Faradina Ghouse, Group Chief Compliance Officer, AmBank Group, Dato’ Sulaiman Mohd Tahir, Tan Sri Azman Hashim, Chairman, AmBank Group, Penelope Gan, Group Chief Human Resource Officer, AmBank Group, Raja Teh Maimunah Raja Abdul Aziz, Chief Executive Officer, AmInvestment Bank and Managing Director, Wholesale Banking, AmBank Group, Datuk Iswaraan Suppiah, Group Chief Operations Officer, AmBank Group, Seohan Soo, Executive Vice President, Capital Markets Group, AmInvestment Bank ( back row, fifth from right), Goh Mei Lee, Group Chief Strategic Transformation Officer, AmBank Group, Goh Wee Peng, Acting Chief Executive Officer, AmInvest, Shamsul Baharom, Group Chief Internal Auditor, AmBank Group and Syed Anuar Syed Ali, Head, Group Corporate Communications and Marketing, AmBank Group at the official launch of AmBank Group’s Code of Conduct held in Bangunan AmBank.

Dato’ Sulaiman Mohd Tahir, Group Chief Executive Officer, AmBank Group speaking at the launch of AmBank Group’s Code of Conduct.

The attendees at the launch event.

20 bond market and foreign exchange review

As 2017 came to a wrap, Trump’s tax reform took on a more developed shape, having passed the US House of Representatives and Senate in December. However, together with inflation concerns which remained shy of the Federal Reserve target, the planned tax cuts estimated to increase the federal deficit by US$1.5 trillion were the main factors weighing on the dollar. The greenback fell 1.0% to 92.12. In the month of December, the US Federal Reserve raised interest rates by 25 basis points (bps) to 1.25%-1.50%, as the labour market displayed a healthy unemployment rate of 4.1% in each month of the final quarter.

Confirmation by the European Central Bank (ECB) of a quantitative easing from €60bil to €30bil a month starting January 2018 saw the euro rise by 1.6% over the previous quarter against the US dollar to 1.2005. This was due to the confidence expressed that inflation would gradually rise, thus creating room for lifting the Eurozone out of the zero percent interest rate environment in the future. In the final quarter of 2017, Chancellor Merkel faced challenges in her endeavours to form a coalition government with the Social Democratic Party, ultimately agreeing with the leader Martin Schulz to finalise discussions by mid-January 2018.

The Bank of England in November raised interest rates by 25 basis points to 0.50% for the first time in 10 years. The central bank hinted at the possibilities of two more rate hikes over the next three years. As for the sterling, it strengthened against the dollar by 0.9% to 1.3513 from the previous quarter. This is despite uncertainty which is seen pending over the prospects of a Brexit transition deal and also on the future trade relationship with the European Union. In the case of the yen, the currency gained 0.2% to 112.69 against the dollar when compared with the preceding quarter due to the weaker greenback.

During the quarter under review, several key Asian currencies appreciated against the greenback. For instance, the Korean won rose 7.5% from the previous quarter to end at 1,067.40, aided by the better-than-expected 3Q GDP growth of 3.8% year-on-year, added with a 25bps raise in the policy rate to 1.500% by the central bank, while the HKD inched up 0.04% to 7.81. In the case of the Chinese yuan, it appreciated 2.2% to 6.51. The Indian rupee gained

Global Foreign Exchange Review in 4Q2017

1.8% to 63.87 against the previous quarter on the back of higher foreign reserves which were at US$409 billion at end-December 2017. Similarly, the Philippines peso, baht, and Singapore dollar also appreciated against the dollar, climbing 2% to 49.85, 2.3% to 32.57, and 1.6% to 1.34 respectively. The Indonesian rupiah remained as the weakest currency in Asia as it edged down by 0.2% to 13,555.

The ringgit appreciated by 4.1% against the greenback to 4.0465, a level last seen in 2015 supported largely by a strong 3Q GDP growth of 6.2% year-on-year, foreign reserves of US$102.4 billion as at end-December 2017, a bullish tone by Bank Negara Malaysia on the interest rate outlook prospects, strong exports of 12.6% year-on-year and net foreign funds inflow of RM7.2 billion during the quarter under review.

Global Fixed Income Review in 4Q2017In the final quarter of 2017, the US bond spread narrowed as much as 33bps from the previous quarter, as a result of the significant rise in the yields on the shorter end from 1.483% to 1.883% compared to the moderate gain in the 10-year yields from 2.341% to 2.405%. Tightening of the monetary policy amid a low inflation environment, geopolitical tension between North Korea and the US, and the investigation into Trump’s association with Russia that is envisaged to impact Trump’s tax legislation on the economy are the key drivers that influenced the yield movements.

Meanwhile, the UK’s 10-year gilt fell 13bps to 1.188% from the previous quarter, while the 2-year yield only shed 0.5bps to a three-month low to 0.427%. During the quarter under review, the central bank hiked the policy rate by 25bps to 0.50% in November while both the UK and EU agreed on a two-year transition deal post-official Brexit. The German’s sovereign bond spread between the 2- and 10-year bund yields narrowed to 105bps at the end of the fourth quarter compared to 116bps gap at the end of the previous quarter in view of buying interest on the longer end following the gradual subsiding uncertainties on the

German government’s coalition.In the case of Asian countries, the 10-year

sovereign bond yield rose in South Korea, China and India while Indonesia, the Philippines, Singapore and Thailand registered a drop against the previous quarter. South Korea’s 10-year bond yield climbed by 5bps to 2.470% partly due to the 25bps hike in the policy rate by the central bank to 1.5%, while China’s 10-year bond yield surged 25bps to 3.902% as pessimism grew on the bond market following stronger deleveraging risks from the government’s ongoing crackdown on shadow banking. Though the Reserve Bank of India left the repo rate unchanged at 6% in December, the bank raised its inflation forecast which caused the 10-year bond yields to jump by 68bps to 7.321% from the previous quarter.

Both Singapore and Indonesia’s 10-year bond yield slid 19bps to 1.996% and 6.291% respectively from the previous quarter while for Thailand, the 10-year bond yields hardly changed from the previous quarter reading at 2.324% from 2.329%.

In the case of Malaysia, the MGS yield curve widened slightly. The 3-year MGS yield slipped by 8bps to 3.324% during the quarter under review while the 10-year MGS yield dropped by 4bps to 3.906%. During the quarter under review, the central bank left the policy rate intact at 3.00%. The Malaysian ringgit continued to gain momentum as it approached the 4.00 level against the USD by the end of December. Inflation averaged 3.5% year-on-year during the quarter under review. At the same time, the foreign MGS holdings rose to 45.1% or RM164.4 billion in December from 42.8% or RM156.7 billion at the end of the previous quarter.

Performance of Asian Currencies against USD since Oct 2017

-2 0-1 1 2 83 4 5 6 7% Gain/(Loss)

SOUTH KOREAN WONMALAYSIAN RINGGIT

INDIAN RUPEETHAI BAHT

TAIWANESE DOLLAROFFSHORE CHINESE RENMINBI

PHILIPPINE PESOCHINESE RENMINBI

SINGAPORE DOLLARJAPANESE YEN

HONG KONG DOLLARINDONESIAN RUPIAH

Source: Bloomberg As at 29 December 2017

180

160

140

120

100

80

60

MGS % Foreign Holdings (RHS) MGS Outstanding (RMbn)

Jan-15 May-15 Jan-16 Sep-16 May-17Sep-15 May-16 Jan-17

RM’bn

Jan-18Sep-17

53%

51%

49%

47%

45%

43%

41%

39%

37%

35%

Foreign Holdings of MGS

Source: Bloomberg As at 29 December 2017

Economic Review in 4Q2017The US economy grew 2.5% year-on-year in the fourth quarter from 3.2% in the previous quarter that saw the full-year growth at 2.3% from the 1.5% logged in 2016. Consumer spending expanded 3.8% in the fourth quarter, the fastest pace since the fourth quarter of 2014, following a 2.2% growth in the July-September quarter. Business investment in equipment increased 11.84%, the quickest since the third quarter of 2014 and picking up from the third-quarter’s 10.8% pace. Although export rose 7.1%, imports surged by 14.0% and hence knocked 1.96% off GDP growth – the biggest quarterly hit since the third quarter of 2010 while a modest pace of inventory accumulation also restrained growth.

Meanwhile, the Eurozone’s seasonally-adjusted gross domestic product (GDP) rose 0.6% on a quarterly basis during the quarter under review against the prior quarter’s 0.7% GDP growth. Growth was led by expansion in countries like France and the Netherlands, while Germany, Italy, and Spain grew at a slower pace. Thus far, the ECB has maintained its neutral stance on interest rates as inflation remained far from its target while the monthly bond-purchase programme was reduced from January 2018.

And across the English Channel, the UK economy decelerated to 1.4% year-on-year, with the services sector accounting for nearly 80% of GDP as the businesses and finance sector continued to flourish. Private consumption grew while government spending recorded a negative growth. Annually, GDP growth rate for 2017 stood at 1.7%, after registering 1.9% in 2016. The central bank raised the policy rate in November by 25bps to 0.50% given that inflation remained elevated, reading at 3.00% average during the quarter under review.

In Japan, the economy grew at 1.5% year-on-year during the quarter under review from 1.9% in the previous quarter. Bulk of the growth came from private consumption and capital expenditure, indicating strong domestic demand. The central bank maintained its monetary stance by keeping its key policy interest rate at -0.1% and continued with its target on the 10-year JGB yield at around 0%.

China’s economy grew 6.8% year-on-year, the same pace as in the previous quarter supported by exports and defying concerns that intensifying

curbs on industry and credit would hurt expansion. While the heavy industries and property-linked sectors, which constitute part of the old economy, are deliberately slowing, there are other parts of the economy defined as new economy that includes services, parts of the manufacturing sector, e-commerce, online financial services and high tech industries which are showing strength.

Indonesia’s GDP expanded at a pace of 5.19% year-on-year from 5.06% recorded in the third quarter, largely supported by government spending which rose 3.8% from a year earlier, investment which gained 7.3% while exports strengthened 8.5%. However, consumer spending continued to disappoint as it was little changed at about 5% in the last quarter. The Philippines’ economy grew 6.6% year-on-year from 7.0% in the third quarter of 2017, supported by imports and remittances which showed burgeoning domestic demand led by savings, low rates and strong demographics.

The economic growth of Thailand in the fourth quarter was 4.0% on an annual basis from 4.3% in the third quarter of 2017. The tourism sector contributed to the growth in non-agricultural sector, offsetting the detrimental impact of the flood on agriculture. Besides that, the economy was primarily buoyed by growth in private consumption and exports. The Singaporean economy grew 3.6% year-on-year during the quarter under review despite the manufacturing sector cooling off from 19.1% year-on-year in the third quarter to 4.8% during the quarter under review as private and government consumption expenditures were healthy, added with the government’s specified plans to ramp up infrastructure spending.

Malaysia’s GDP grew 5.9% year-on-year in the final quarter of 2017, bringing the annual rate to 5.9% (2016: 4.2%). Growth was supported by private consumption benefitting from healthy wages and income support measures, infrastructure spending, strong exports on the back of improving global demand, firm commodity prices and private investment. Meanwhile, the inflation rate was relatively lower during the

quarter under review, reading at 3.5% year-on-year from 3.6% in the previous quarter due mainly to lower inflation in the housing, water, electricity and gas, and transport categories.

Domestic financial markets continued to experience low overall volatility amid improvement in market sentiments. Domestic financial institutions sustained sound asset quality and profitability levels. Businesses and households on aggregate continued to demonstrate sound debt servicing capacity. Credit conditions in the domestic banking system remained conducive for real economic activities with eligible borrowers having continued access to financing.

Industry loan growth strengthened to 4.1% in December (+3.9% year-on year in November), contributed by stronger growth in business loans which rose 4.1% while household loans growth continued to be stable at 5.1% year-on year during the quarter under review. Banking industry loan-to-deposit ratio increased marginally to 89.8% from 88.7% in Nov 2017, while the weighted base rate and average lending rate remained stable at 3.64% and 5.22% respectively. Interest spread (between the weighted average lending rate and 3-month FD rate) was marginally higher by 1bps month-on-month to 2.28%.

Industry asset quality remained stable. Industry GIL and NIL ratios improved 10bps to 1.5% and 1.1% respectively as impaired loans declined by 3.7% month-on-month. GIL ratios for loans to all sectors remained stable. The sector loan loss cover was 82.9% as at the end of Dec 2017. The level of net funds raised by the private sector was significantly higher by 139.7% YoY with a higher issuance of bonds than equities.

Going forward, the Malaysian economy is poised to remain favourable, with growth supported by domestic demand which will be the key driver of growth. At the same time, the strong global growth would continue to benefit exports, with positive spillovers to the domestic economic activity. Headline inflation is expected to moderate in 2018, reflecting a smaller contribution from global cost factors and a stronger ringgit compared to 2017.

REVIEW OF THE MALAYSIAN ECONOMYReported by Mr Anthony Dass, Chief Economist, AmBank Group

21review

AmBank Group hosted its Chinese New Year 2018 open house attended by approximately 1,500 people comprising clients, guests and members of the media on Wednesday, 28 February 2018.

The AmBank Group Chinese New Year Open House held at a prominent local hotel in Kuala Lumpur was hosted by Tan Sri Azman Hashim, Chairman, AmBank Group. Among the senior management in attendance were Dato’ Sulaiman Mohd Tahir, Group Chief Executive Officer, Board Members and Senior Management from the Group’s

subsidiaries such as Retail Banking, Investment Banking, Wholesale Banking and Insurance.

“Our Chinese New Year Open House is organised annually to demonstrate our appreciation to our valued clients for their support and trust in banking with us. It is also an occasion where we are able to foster and strengthen our relationships with the clients and at the same time to usher in the Year of the Dog.

As true Malaysians, we cherish all festivals with our families and friends, as this is when all races

As true Malaysians, we cherish all festivals with our families and friends, as this is when all races gather and celebrate together as one Malaysia.

Tan Sri Azman, Chairman, AmBank Group

22 happenings

AmBank Group Hosts Chinese

Tan Sri Azman Hashim, Chairman, AmBank Group (right) and Dato’ Sulaiman Mohd Tahir, Group CEO, AmBank Group (left)

at the AmBank Group Chinese New Year Open House.

gather and celebrate together as one Malaysia. We hope this year will bring many more opportunities and achievements for AmBankers,

as we look forward to serve our customers better,” said Tan Sri Azman.

Other than enjoying the usual Chinese New Year delicacies, there was also Yee Sang which symbolises abundance, prosperity and vigor. The guests were entertained to a Lion Dance Performance by the world-champions, Kun Seng Keng Lion and Dragon Dance Association from Muar, Johor erhu (Chinese two-stringed violin) performance together with hit songs performed by The Singing Shop.

New Year 2018 Open House

Tan Sri Azman, Chairman, AmBank Group performing at the AmBank Group Chinese New Year Open House.

L-R: Lya Rahman, General Manager, Minority Shareholder Watchdog Group (MSWG), Syed Muhammad Arif Syed Azman, Director, The Weststar Group, Datin Ragayah Dato’ Hj Mohd Eusoff, wife of Dato’ Dr Mahmood Merican, Dato’ Dr Mahmood Merican, Trustee, Yayasan Ortopedik, Duncan Victor Brain, Non-Independent Non-Executive Director, AmGeneral Insurance, Tan Sri Azman Hashim, Dato’ Sulaiman Mohd Tahir, Datuk Tee Eng Ho, Executive Chairman, Kerjaya Prospek Group Berhad and Syed Muhammad Ammar Syed Azman, Director, The Weststar Group tossing the Yee Sang together.

AmBank Group Hosts Chinese

24 happenings

AmBank Group Hosts Chinese

New Year 2018 Open House25happenings

New Year 2018 Open House

Our Chinese New Year Open House is organised annually to demonstrate our appreciation to our valued clients for their support and trust in banking with us.

Tan Sri Azman, Chairman, AmBank Group

Northern Region KAG Chinese Kelab AmBank Group (KAG) held a Chinese New Year celebration for Northern Region staff on Friday, 9 March 2018 in Royale Chualan Hotel, Penang. Some 300 staff and media took part in this event including children from House of Hope who were treated with scrumptious food and live entertainment. The children also took part in a colouring contest and the winners were presented with hamper of school supplies by Syed Anuar Syed Ali, President, Kelab AmBank Group (KAG) and Head, Group Corporate Communications and Marketing, AmBank Group.

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Syed Anuar Syed Ali (centre) with Ong Gaik Leng, Regional Director, AmBank (M) Berhad (fifth left) and the AmBank staff tossing yee sang during AmBank Group’s Chinese New Year celebration at the Royale Chulan Hotel in Penang.

Syed Anuar Syed Ali, President, Kelab AmBank Group (KAG) and Head, Group Corporate Communications and Marketing, AmBank Group delivering his opening speech during the Northern Region KAG Chinese New Year Dinner 2018.

New Year Dinner 2018

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Children from House of Hope pose for a group photo before the colouring contest begin.

Syed Anuar Syed Ali (fifth from left) with the winners of colouring contest.

28 happenings

AmBank Group’s Chinese New Year Decoration

AmBank Group celebrates 2018 Chinese New Year by having a huge Chinese Traditional Arch with Earth Dog icon in the middle to light up the celebration at the lobby of Bangunan AmBank Group (BAG) and Menara AmBank Group (MAG).

On Saturday, 13 January 2018, Retail Collection held a training and awards giving ceremony at Federal Hotel Kuala Lumpur. The event saw a total of 164 staff who participated in the exhilarating and rewarding session with the objective of inspiring everyone to work coherently towards adopting a ‘Winning Mentality’ in the pursuit of achieving higher results in collections.

Suresh Dhawan, Consultant Trainer of Compass Mind Asia, facilitated an exciting motivational session, ‘Shine Bright Like A Diamond’, filled with high energy, interactive activities and learning outlined in two modules namely, ‘Your Potential is Your Choice’ – success stories and factors of famous leaders/celebrities and ‘Fear Eliminators’ by participating in a ‘Pencil Breaking’ challenge, where participants had to face their fear/challenges by breaking pencil(s) with their index finger. The second module is called ‘Driving the Dream Team’, where it inculcates team effectiveness, communication, creative thinking via indoor teambuilding activities.

The event was then resumed with the highlight of the day whereby Jade Lee, Managing Director, Retail Banking and other Section Heads presented awards to all Top Performers from various teams and units. Seven staff were selected as the Most Outstanding Performer and Team Leader.

Name AwardNurhalimah Binti lsmail Most Outstanding Performer,

Early DelinquentNorliani Binti Salleh Most Outstanding Performer,

Mid DelinquentYazan Binti Jaafar Most Outstanding Performer,

Impaired loansMohd lmxan Shah Bin Muhamad Jaiz

Most Outstanding Performer, Bad Debt Recoveries

Md Normi Bin Md Zin Most Outstanding Performer, Administration & Support

Sivakami a/p Kaliana Raman

Most Outstanding Team leader, Collection & Recovery

Norazura Binti Munajat Most Outstanding Team leader, Administration & Support

The event ended with lots of cheers to spur everyone to ‘shine bright like a diamond’.

happenings 29

Retail Collection Training & Awards 2017

Team members working together during an indoor activity.

The team at the Retail Collection Training and Awards 2017.

Front row, L-R: Jade Lee, Managing Director, Retail Banking (middle) with the seven Most Outstanding Performer and Team Leaders.Second row, L-R: Section Heads – Choo Yew Sing, Zul Nordin, Yap Chuan Seong, Harvinder Singh, Huzaini Abd Wahab and Tan Wee Sen.

30 happenings

The Leadership Insight – Sharing of Experiences and Challenges in Leading an Organisation was held on Tuesday, 16 January 2018. This sharing session was organised in collaboration with AmBank Group, Eco World Development Group and Aon Hewitt. More than 150 staff from AmBank Group and Eco World Development Group attended this programme.

Dato’ Chang Khim Wah, President and Chief Executive Officer Eco World Development Group and Dato’ Sulaiman Mohd Tahir, Group Chief Executive Officer, AmBank Group shared their leadership values and challenges.

The highlight of the event was both speakers joined a panel discussion which moderated by Prashant Chadha, Managing Director Aon Hewitt Malaysia and Brunei.

The Leadership InsightSharing of Experiences and Challenges in Leading an Organisation

Dato’ Sulaiman Mohd Tahir, Group Chief Executive Officer, AmBank Group (standing) sharing his experience to AmBank Group and Eco World Development Group staff.

Dato’ Sulaiman Mohd Tahir, Group Chief Executive Officer, AmBank Group (third from left) together with Ms Penelope Gan, Deputy Group Chief Human Resource Officer, AmBank Group (fourth from left) together with Dato’ Chang Khim Wah, President and Chief Executive Officer, Eco World Development Group (left) and Mr Prashant Chadha, Managing Director Aon Hewitt Malaysia and Brunei (right)

Dato’ Sulaiman Mohd Tahir (left) and Dato’ Chang Khim Wah (right).

Congratulations to AmBank Menara Dion Branch once again for the consecutive wins of Challenge 2; The Branch with The Highest Number of OTCBG Transaction for the Month (18 issuances for period of 16 October to 15 November 2017) and in Challenge 3 – The Branch with The Highest OTCBG Value for The Month (Aggregate Value of RM876,143 with 13 issuances for the period of 16 November to 15 December 2017) in the OTCBG Branch Contest which has ended on 15 December 2017. The prize presentation ceremony was held recently at the branch on Tuesday, 30 January 2018.

31happenings

AmBank Menara Dion Branch Awardedfor another Consecutive Wins of Challenge 2 & 3 for the Over-The-Counter Bank Guarantee (OTCBG) Branch Contest

Transaction Banking and AmBank Menara Dion branch staff posing happily at the end of the award session.

Haslina binti Ali, Branch Manager, AmBank Menara Dion branch (third from right), Cheah King Soon, Senior Vice President, Trade Sales, Transaction Banking, AmBank (M) Berhad (second from right) and Daraman Anak Jack, Senior Manager, Trade Product Management, Transaction Banking, AmBank (M) Berhad (right) posing together with AmBank Menara Dion branch staff.

Bah Rahim bin Arkum, Tok Batin of Pos Menson (7th from left) and Shah Amri bin Salim, Officer from Jabatan Pertanian Cameron Highlands (5th from left) displaying the cabbage seeds planted at the demonstration. Also in the picture is Azaharin bin Abd Latiff, Senior Vice President, HR Operations & Projects, Group Human Resource, AmBank Group (2nd from left).

The objective is to educate them on new farming techniques and improve their living standards by generating sustainable income.

AmGraduate Social Enterprise Project

“Tambahkan Ilmu, Tingkatkan Taraf” at the Orang Asli Village Settlement, Kampung Rantau, Pos Menson, Cameron Highlands, Pahang

The “Tambahkan Ilmu, Tingkatkan Taraf” programme was initiated by 15 AmGraduates, as part of their 18-month AmGraduate management trainee stint at AmBank Group. The objective of this Social Enterprise Project initiative is to educate the Orang Asli families in Kampung Rantau, Pos Menson in Cameron Highlands, Pahang on new farming techniques and improve their living standards by generating sustainable income through pineapple and

cabbage farming. The two-day event from Monday to Tuesday, 22 to 23 January 2018 was organised in collaboration with Jabatan Kemajuan Orang Asli (JAKOA) and Jabatan Pertanian Cameron Highlands.

happenings32 happenings

The villagers of Pos Menson actively participating during the demonstration of the cabbage seed planting.

The villagers of Pos Menson, AmBank Group representatives & 15 AmGraduates (AmBank Group Management Trainees) taking a group photo at the “Tambahkan Ilmu, Tingkatkan Taraf” programme at Orang Asli Village Settlement, Kampung Rantau, Pos Menson, Cameron Highlands on Tuesday, 23 January 2018.

AmGraduates repainting and cleaning the village amenities.

A team from the Credit Collections Department, Wisma AmBank emerged as the Grand Prize winner of the Photo Category, while one lucky individual won the Grand Prize in the Video Category at the #AmBank2018Greetings Contest prize giving ceremony, held on Friday, 26 January 2018.

With the live announcement during the ceremony, the grand prize winners of the Photo Category, led by Nor Azam Azram

Video Category

Prize Value Name Department

1st Prize RM2500 Muhammad Syafiq Syazwan Bin Ismail

Balakong Branch

2nd Prize RM1500 Liew Wai Ying

Mohd Yasir Yusof

Pauziah Wahab

Komathy Samy A/P Munusamy Nurul

Rashidah Binti Ahmad

Abzan Nor Alyani Binti Ismail

Manonmany Sakthivel

Abdullah Bin Jalaludin

Jaya Suri A/P Ramanathan

Ahmad Nazmi Bin Roslan

Wholesale Banking – Credit Administration

3rd Prize RM750 Adib Ahmad Bin Aziz Virtual Banking

4th & 5th Prize

RM375 Omar Bin Abdul Rahman

Muhammad Jafari Bin Zakaria

Credit Collections Department

Consolation Prize

Certificate of Achievements

Nor Syakirah Binti Hashim Digital Enablement, GIOD

Magdelene Asipatham Finance System

Ooi Lay Leng (Novelle) Credit Administration, Penang Menara Liang Court

Hidayatul Akmal Binti Nordin Credit Collections Department

Nursyazreen Amalina Binti Rahim Enterprise Data Governance

Photo Category

Prize Value Name Department

Grand Prize

RM1500 Nor Azam Azram b. Md Nordin

Sheela Sivakami

Mohd Ehwan Edin

Firdaus Zainal Abidin

Muhamad Jafari Bin Zakaria

Abdul Nawab Bin Kadir Maidin

Credit Collections Department, Pudu

2nd Prize RM1000 Muhammad Syafiq Syazwan Bin Ismail

Balakong Branch

3rd Prize RM500 Magdelene Asipatham Finance System

4th & 5th Prize

RM250 Norasfalela Binti Mat Customer Care

Mohd Syahir Bin Rokib @ Zahir & team

AmInvest Corporate Communication & Marketing

Consolation Prize

Certificate of Achievements

Norsalwa Binti Mohd Salleh Credit Analysis & Approval

Nor Syakirah Binti Hashim Digital Enablement, GIOD

Nursyazreen Amalina Binti Rahim Enterprise Data Governance

Roziah Binti Ahmad WAB

Amir Hafidz Bin Mohd Idris Retail Collections, WAB

#AmBank2018Greetings Winners List

Md Nordin, walked away with a cash prize of RM1500 for their creative photo entry, while Muhammad Syafiq Syazwan bin Ismail walked away with RM2500 for his winning entry in the Video Category.

Present at the prize giving ceremony were Dato’ Sulaiman Mohd Tahir, Group Chief Executive Officer, AmBank Group and Syed Anuar Syed Ali, Head, Group Corporate Communications & Marketing,

AmBank Group, who handed away mock cheques to the winners.

During his speech, Dato’ Sulaiman notified the audience that a new contest will soon be launched soon to celebrate the Chinese New Year holidays. Do be on the lookout for more news on this development!

Congratulations again to all the winners!

33happenings

Congratulations to the winners of the

#AmBank2018Greetings Contest!

Dato’ Sulaiman Mohd Tahir, Group Chief Executive Officer, AmBank Group¸ Ramzi Toubassy, Chief Executive Officer, AmMetLife Insurance Berhad and Syed Anuar Syed Ali, Head, Group Corporate Communications & Marketing, AmBank Group together with the grand prize winners at the #AmBank2018Greetings Contest prize giving ceremony.

On Saturday, 13 January 2018, former staff of Arab-Malaysian Credit Berhad (AMCB) held their first reunion dinner at D’Saji Restaurant, Taman Titiwangsa. This event was graced by Tan Sri Azman Hashim, Chairman, AmBank Group. AMCB was formed in 1983 and played an important role to AmBank Group.

Arab-Malaysian Credit Berhad (AMCB) Reunion Dinner at D’Saji Restaurant, Taman Titiwangsa

34 happenings

L-R: Tuan Haji Abdul Latif Yahaya, Tan Sri Azman Hashim, Chairman, AmBank Group, Michael Chan, Johari Low and Koh Pee Seng.

Some of the former staff of AMCB at the reunion dinner at D’Saji Restaurant, Taman Titiwangsa.

Former staff of AMCB pose for a group photo with Tan Sri Azman (seated middle) during the reunion dinner.

Tan Sri Azman Hashim (left) presenting his personal donation of RM10 million to Methodist Council of Education, represented by Bishop Dr Ong Hwai Teik (middle) and Mr Khor Hong Yin (right).

The Methodist Council of Education (“MCOE”) named the main administration building in Sekolah Menengah Kebangsaan (L) Methodist Sentul (“MBS Sentul”) as Bangunan Azman Hashim, in honour of its alumnus Tan Sri Azman Hashim, at a ceremony held in MBS Sentul on Tuesday, 30 January 2018. The naming of Bangunan Azman Hashim recognizes Tan Sri Azman’s immense contribution to society by making education accessible to all. Earlier, philanthropist cum entrepreneur Tan Sri Azman Hashim had, via Yayasan Azman Hashim, a non-profit charitable institution he founded, made a personal donation of RM10 million to assist MCOE continue its effort to support nation building through education.

Tan Sri Azman felt indebted to MBS Sentul where he received his education in his formative years and would not be where he is today without having gone through the school with their dedicated teachers.

Tan Sri Azman noted that the first Methodist school was established in Malaysia almost 130 years ago. “Today, we

have the Methodist Council of Education helping to promote and coordinate the development of both the government-assisted Methodist schools as well as the private schools and colleges, numbering about 80 in total.” said Tan

Sri Azman. He also added that the Methodist schools have educated many Malaysians, regardless of race and religion and transformed lives for the better.

“We are thankful to Tan Sri Azman Hashim for his exceptional altruism and sense of responsibility clearly demonstrated in this most generous donation that will transform young lives and lead to nation building.” said Bishop Dr Ong Hwai Teik, Chairman of the Methodist Council of Education who is also the Episcopal Head of the Methodist Church in Malaysia, during the ceremony.

Dignitaries present at the event were Tan Sri Azman Hashim, Bishop Dr Ong Hwai Teik, Yang Berhormat Dato Dr Ron Tan, Chairman of MBS Sentul (Secondary) Board, Mr Steven Niles Lee, Chairman of MBS Sentul (Primary) Board. Members from the MCOE, MBS Sentul and Wesley Methodist Schools’ Boards, representatives from the Jabatan Pendidikan Wilayah Kuala Lumpur and Wilayah Sentul, past and present Principals of MBS Sentul, Chairman of MBS Sentul’s Parent-Teacher Association, Chairman of MBS Sentul’s Old Boys’ Association, the Senior Management team from Amcorp Group Berhad, a wholly owned investment company of Tan Sri Azman and other significant alumnus of the school also attended the ceremony.

The School’s teachers and students took the opportunity to welcome the return of this significant “old boy” by presenting a series of performances such as the Silat display, dances and also presented Tan Sri Azman with souvenirs hand crafted by the teachers and students.

MBS SENTUL UNVEILS BANGUNAN AZMAN HASHIMSchool building named after its alumnus, philanthropist TAN SRI AZMAN HASHIM

“We are thankful to Tan Sri Azman Hashim for his exceptional altruism and sense of responsibility clearly demonstrated in this most generous donation that will transform young lives and lead to nation building.”

Bishop Dr Ong Hwai Teik Chairman, Methodist Council of Education

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On Thursday, 15 March 2018, Universiti Teknologi Malaysia (UTM) has given special recognition to Tan Sri Azman Hashim, Chairman, AmBank Group by naming its International Business School after the prominent corporate figure.

Yayasan Azman Hashim had agreed to channel RM30 million to the UTM Education Endowment Fund (UEEF), with an annual payment of RM5 million, beginning 2016. Tan Sri Azman Hashim, Chairman, AmBank Group said, “This fund is for assisting UTM students who face financial problems and for the university’s academic development.”

UTM names its International Business School after Tan Sri Azman Hashim

Tan Sri Dr. Noorul Ainur Mohd Nur, Secretary General, Ministry of Higher Education Malaysia (far right) signing the plaque to officiate the launch of the Azman Hashim International Business School, witnessed by Tan Sri Azman Hashim (front row, second from right), Tan Sri Abdul Halim Ali (far left), Prof. Datuk Ir. Dr. Wahid Omar (front row, third from right), Dato’ Sulaiman Mohd Tahir, Group Chief Executive Officer, AmBank Group (second from left), Eqhwan Mokhzanee, Chief Executive Officer, AmBank Islamic (back row, second from right) and Prof. Dr. Wan Khairuzzaman Wan Ismail (back row, fourth from right).

L-R: Prof. Dr. Shamsul Sahibuddin, Pro Vice-Chancellor, UTM, Dr. Mohd Nor Azman Hassan, Director, UTM, Datuk Wan Zawawi Wan Abdul Rahman, Registrar, UTM, Prof. Dr. Wan Khairuzzaman Wan Ismail, Dean, Azman Hashim International Business School, UTM, Tan Sri Abdul Halim Ali, Chairman, UTM, Tan Sri Azman Hashim, Chairman, AmBank Group, Prof. Datuk Ir. Dr. Wahid Omar, Vice-Chancellor, UTM, Prof Dr. Azlan Rahman, Deputy Vice-Chancellor, UTM and Syed Anuar Syed Ali, Head, Group Corporate Communications and Marketing, AmBank Group at the launch of Azman Hashim International Business School.

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Tan Sri Azman Hashim, Trustee, Azman Hashim Foundation visited the International Institute of Islamic Civilisation and Malay World (ISTAC), at the International Islamic University Malaysia (IIUM) KL Campus on Friday, 16 March 2018.

The visit was in conjunction with the naming of the two components of the Campus – the Azman Hashim Courtyard and Masjid Zabedah in recognition of his commitment and support towards the University, through the IIUM Perpetual Endowment Property Fund programme. He was accompanied by Tan Sri Dr. Rais Yatim, President of IIUM and Prof. Dato’ Sri Dr. Zaleha Kamaruddin, Rector of IIUM for the visit.

Tan Sri Azman had previously in 2008 participated in the IIUM Perpetual Endowment Property Fund for the Azman Hashim Complex at IIUM Gombak Campus with a contribution

of RM7 million. Through this programme, so far a total of 40 University students have been sponsored with the Azman Hashim – IIUM Ummatic Scholarship using the funds derived from the net rental proceeds from the building. The programme is managed by the fund raising division of the University – IIUM Endowment Fund (IEF).

With the success of the first project, Tan Sri Azman recently committed another contribution of RM5 million for the University, for a similar programme at IIUM KL Campus. The contribution received will be mainly used for the Students’ Perpetual Scholarship and Research Endowment Programmes while a portion is reserved for the refurbishment of IIUM KL Campus with priority given to the Azman Hashim Courtyard and Masjid Zabedah.

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Launching of Azman Hashim Courtyard and Masjid Zabedah at IIUMContribution for IIUM Perpetual Endowment Property Fund: Tan Sri Azman Hashim, Trustee, Azman Hashim Foundation (centre) handing over the mock cheque for the IIUM Perpetual Endowment Property Fund to Tan Sri Dato’ Seri Utama Dr. Rais Yatim, President, IIUM (second from left) accompanied by Dato’ Ahmad Zailan Shaari, Executive Director, IIUM (far left), Prof. Dato’ Sri Dr. Zaleha Kamaruddin, Rector, IIUM (second from right) and Razif Mamat, Covering Director, IIUM Endowment Fund (far right) at the launch of the Azman Hashim Courtyard and Masjid Zabedah at IIUM KL Campus on Friday, 16 March 2018.

Official Launch of Masjid Zabedah: Tan Sri Azman Hashim (centre) signing the plaque to officiate the launch of Masjid Zabedah, witnessed by Tan Sri Dato’ Seri Utama Dr. Rais Yatim (second from left), Dato’ Ahmad Zailan Shaari (far left), Prof. Dato’ Sri Dr. Zaleha Kamaruddin (far right) and Razif Mamat.

38 sports

Orkid Netball team crowned as champion at the Wisma AmBank (WAB) Mixed Netball Tournament 2018 held at Kompleks Sukan Kampung Pandan, Kuala Lumpur on Saturday, 6 January 2018. More than 80 staff took part in this inaugural event as part the retail collection staff engagement activity.

Mawar team came in the second place after losing narrowly to Orkid, 3-2 in the final match and Teratai took the third place after beating Sakura 7-2 in the third/fourth placing match. Zul Norddin Pilus, Vice President, Credit Collection, AmBank(M) Berhad team also played an exhibition match against Yap Chuan Seong, Vice President, Credit Collection, AmBank(M) Berhad team.

Wisma AmBank (WAB) Mixed Netball Tournament 2018

Some of the participants posing together for a group photo after the Wisma AmBank (WAB) Mixed Netball Tournament 2018 at Kompleks Sukan Kampung Pandan, Kuala Lumpur.

The exhibition match between Zul Norddin team (wearing pink bib) and Yap Chuan Seong team (wearing yellow bib).

Zul Norddin Pilus, Vice President, Credit Collection, AmBank(M) Berhad with the presented trophies to champion Orkid team.

Second place Mawar team with the presented trophies from Zul Norddin Pilus.

Zul Norddin Pilus presented the trophies to third place Teratai team.

Tan Sri Azman Hashim, Chairman, AmBank Group and Patron of KAG (third from left) presented the staff donation to Mohamad Azlee Ahmad Mahiudin (second from left) whose house in Bandar Tasek Mutiara, Simpang Ampat, Pulau Pinang caught fire on 29 November 2017. Azlee is a sales executive who is attached with the Mobile Sales Team, Retail Banking in Pulau Pinang. Also in the picture are Syed Anuar Syed Ali, President, KAG and Head, Group Corporate Communications and Marketing, AmBank Group (right) and Haseran Jawan, Vice President, KAG (left) during the presentation on Friday, 19 January 2018.

Staff Donation Drive

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Staff Donation Drive

On Saturday, 10 February 2018, Kelab AmBank Group (KAG) has successfully organised KAG Futsal Tournament 2018 at Uptown Sports, Bangi. The one-day tournament has attracted 272 participants and divided into three categories.

Syed Anuar Syed Ali, President, Kelab AmBank Group (KAG) and Head, Group Corporate Communications and Marketing, AmBank Group presented the medals to the winning teams.

Congratulations to all the winners!

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KAG FUTSAL T URNAMENT 2018

Syed Anuar Syed Ali, President, Kelab AmBank Group (KAG) and Head, Group Corporate Communications and Marketing, AmBank Group (fourth from left) presented the medals and trophy to Ladies’s Open champion, Semut Hitam.

Some of the participants posing together for a group photo before the Kelab AmBank Group Futsal Tournament 2018 at Uptown Sports, Bangi.

Syed Anuar Syed Ali (sixth from left) presented the medals and trophy to Men’s Open champion, Abecit FC.

Ladies Category Placing Team NameChampion Semut HitamRunner Up Netster3rd Place Flash Fighter4th Place Day Dream

Men’s Open Category Placing Team NameChampion Abecit FCRunner Up Eaglepeonist A3rd Place Colapsar FC4th Place Feng Tao

Men’s Veteran Category Placing Team NameChampion Sya La LaRunner Up Brotherhood3rd Place AmBrothers4th Place Kamtai FC

Winners’ Listing

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KAG FUTSAL T URNAMENT 2018

Syed Anuar Syed Ali (sixth from left) presented the medals and trophy to Men’s Open champion, Abecit FC. Syed Anuar Syed Ali (sixth from left) presented the medals to Men’s Veteran champion, Sya La La.

At the recent Kelab AmBank Group (KAG) 37th Annual General Meeting held on Thursday, 29 March 2018, the new Office Bearer for year 2018-2020 were elected and the Office Bearers are as follows:

Name Position LOB

Tuan Syed Anuar Syed Ali President Head, Group Corporate Communications & Marketing

Puan Yom Ruzita Mohd Yunan Honorary General Secretary Group Information and Operations

Encik Muhammad Shalehin Baharin Assistant Honorary General Secretary

Group Information and Operations

Cik Nor Hafidzah Kamarudin Honorary Treasurer Group Finance

Puan Wan Hasmidar Wan Husin Assistant Honorary Treasurer Group Finance

Cik Phua Hui Yin, Eunice Honorary Auditor Group Internal Audit

Encik Ng Jia Jun Assistant Honorary Auditor 1 Group Internal Audit

AmBank-Group Shared Services

Puan Heida Hew Vice President Branding & Marketing Services, GCCM

Cik Ashraf Mohamed Exco Member Integrated Marketing, GCCM

Puan Lee Mei Siew Exco Member Group Information and Operations

Puan Nor Aniza Omar Exco Member Group Finance

Encik Aminuddin Hassan Exco Member Group Administration

Wholesale Banking

Encik Norizlan Ismail Vice President Group Treasury & Markets (Derivatives)

Vacant Exco Member

Vacant Exco Member

AmInvestment Bank

Encik Zairulnizad Shahrim Vice President Investment Solutions – Islamic, AmIslamic Funds Management

Vacant Exco Member

Vacant Exco Member

AmBank-Retail Banking

Encik Shahrul Hisham Mohd Tahir Vice President Auto Finance

Encik Irwan Shah Hasbullah Exco Member Cards Operations

Encik Muhammad Noor Ridzuan Exco Member AmBank Islamic

Syed Anuar Syed Ali, President, Kelab AmBank Group (KAG) and Head, Group Corporate Communications and Marketing, AmBank Group (standing) delivering his opening remarks at the KAG 37th Annual General Meeting.

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Announcement of New Kelab AmBank Group (KAG)’s Office Bearer for 2018-2020

Name Position LOB

AmBank-Retail Banking

Encik Omar Abdul Rahman Exco Member Retail Collections

Encik Osman Elias Exco Member Retail Collections

AmMetLife Insurance Berhad

Puan Nurkith Cheeng Vice-President Human Resources

Vacant Exco Member

Vacant Exco Member

AmGeneral Insurance Berhad

Vacant Vice-President

Vacant Exco Member

Vacant Exco Member

Vacant Exco Member

Vacant Exco Member

AmMetLife Takaful Berhad

Encik Mohd Khairul Eidzwan Mohamed Nurdin

Vice President Operations

Vacant Exco Member

Group Corporate Communication & Marketing (GCCM)

Encik Mohamed Radzi Mohamed Ali GCCM Representative Event & Sponsorship, GCCM

Cik Nurul Amalina Mohd Rashid GCCM Representative Media Relations, GCCM

IT Coordinator

Puan Harma Rabihah Kahar IT Coordinator Integrated Marketing, GCCM

Group Human Resources Representative

Encik Mohamad Syafarin Abdul Gani

Human Resources Representative

Group Human Resources

KEPPA Representative

Encik Mohammad Hazri Kasbi KEPPA Representative Retail Collections

Syed Anuar Syed Ali (Standing, seventh from left) posing with the new KAG Office Bearers.

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Zulh

airy

Ithn

ain Born and raised in Kuala Lumpur,

Zulhairy Ithnain is known for his drawing and painting skills. Also an established painter, Zulhairy was educated at Universiti Teknologi Malaysia (UTM), where he obtained his diploma and degree in architecture. Zulhairy applied his knowledge and honed his artistic skills throughout his career. Not limited to just watercolours and canvas, he is also a talented photograper, with micro photography being one of his main interests. He loves capturing close-ups of floral and fauna shots. Zulhairy regretfully mentions he is now more active in photography these days and is painting leisurely. Nevertheless, Zulhairy hopes to create more art pieces actively through digital arts as he believe this will make an impact on the arts industry in Malaysia.

44 painting gallery

Title: Masjid Jamek, Jalan Sultan

Medium: Watercolour & Chinese Brush Technique

Measurement: W35cm x L52cm

Title: Masjid KLCC

Medium: Ink Sketch

Measurement: W56cm x L64cm

A natural wood coloured camel with gold studs outlined as blanket with colourful stonework on its hump, tail and body. Its rein is carved from the same piece of wood while its eyes are ringed with red glass and a “putu” on its forehead in aquamarine.

Size: 16cm (H) x 13cm (L)

Location: Conference Room Level 48 Menara AmBank Jalan Yap Kwan Seng Kuala Lumpur

A ceramic camel desktop pencil sharpener (the blade is at bottom).

Size: 6cm (H) x 9cm (L)

Location: Banking Hall Ground Floor Bangunan AmBank Group Jalan Raja Chulan Kuala Lumpur

45camel collection

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