The Bank of New York has been selected by Malayan Banking Berhad as depositary for its American depositary receipt (ADR) program.
Each Malayan Banking Berhad ADR represents two ordinary shares. The ordinary shares trade on the Kuala Lumpur Stock Exchange, and the ADRs trade on the Over-The-Counter Market under the symbol “MLYBY.”
The principal activity of Malayan Banking Berhad is providing banking services such as savings and fixed deposits; remittance services; current accounts; housing and personal loans; and credit cards to individuals and a full range of financial services to business customers.
Mohammed Hussein, deputy president and chief financial officer, at Malayan Banking Berhad, said, “We are pleased to be working with The Bank of New York as we take the important step of entering the U.S. financial market. We are confident that the Bank’s integrated securities services will streamline our program’s administration, and that it will help us gain broader access to U.S. investors.”