Incorporation in Singapore


An Overview

Maybank transferred its Community Financial Services (CFS) business in Singapore from Malayan Banking Berhad, Singapore Branch (Maybank’s Singapore Branch) to Maybank Singapore Limited, a Singapore-incorporated subsidiary, on 5 November 2018.

Maybank was identified as one of the domestic systemically important banks (D-SIBs) by the Monetary Authority of Singapore in 2015. Singapore is one of Maybank's home markets, and the incorporation of Maybank Singapore Limited is an important part of the overall strategy to accelerate its growth plans and business presence in Singapore.

Maybank Singapore Limited operates CFS business consisting of Retail (personal banking, privilege wealth, premier wealth), Private Wealth, SME - Retail, Small Medium Enterprises (RSME) Banking and Commercial Banking business in Singapore. The Global Banking (including Global Markets) business continues to be operated under Maybank’s Singapore Branch.

All Maybank customers will continue to enjoy the same quality of products and services. Maybank looks forward to serving you into the future.

Quick Reference

Maybank’s Singapore Branch and Maybank Singapore Limited will each operate under its distinct reference name. It is important for customers to use the correct description and details from 5 November 2018 onwards to make payments or collect funds. The bank details are set out in the table below for your reference.

Full Bank Names

Malayan Banking Berhad, Singapore Branch

Maybank Singapore Limited

Customers

Global Banking (include
Global Markets)

Retail (personal banking, privilege wealth and premier wealth), Private Wealth, SME and Commercial Banking

FAST Bank description

Malayan Banking Berhad

Maybank Singapore Limited

Bank Code

9636

7302

SWIFT BIC   

MBBESGSG

MBBESGS2

UEN Number

S60FC1376L

201804195C

The Board of Directors of Maybank Singapore Limited

MSL Board of Directors (PDF)

 

 

Key Information

1. What is local incorporation and when will it take place?
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2. Why did Maybank decide to undergo local incorporation in Singapore?
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3. Is there any impact on retail payments / transfers?
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4. When making cheque payments to the Branch or the Subsidiary, what is the payee name that we should issue the cheques to?
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5. How will this impact my existing accounts / relationship with the Branch?
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6. Where can I find out more information about this local incorporation?
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Maybank Singapore Limited - Frequently Asked Questions (FAQs)

FAQs for Customers of Retail (personal banking, privilege wealth and premier wealth), Private Wealth, SME - Retail, Small Medium Enterprises (RSME) Banking and Commercial Banking (CMG) (PDF)

Chinese version: FAQs for Customers of Retail (personal banking, privilege wealth and premier wealth), Private Wealth, SME - Retail, Small Medium Enterprises (RSME) Banking and Commercial Banking (CMG) (PDF)

Malayan Banking Berhad, Singapore Branch - FAQs

FAQs for Customers of Global Banking (including Global Markets) (PDF)

Chinese version: FAQs for Customers of Global Banking (including Global Markets) (PDF)

Scheme of Transfer

Summary of the Transfer of the Community Financial Services business in Singapore from Malayan Banking Berhad, Singapore Branch to Maybank Singapore Limited under Sections 55B and 55C of Part VIIA, Division 1 of the Banking Act, Chapter 19 of Singapore (PDF)

Information is updated as of 30 August 2018

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