In relation to the proposed issuance of Hong Leong Bank Berhad's fourth tranche commercial papers on 26 July 2024 under its Senior CP Programme via competitive tender(s), there may be a potential conflict of interest from Hong Leong Bank Berhad participating as a tender panel member in view that Hong Leong Bank Berhad is the Issuer.
 
Notwithstanding the above, Hong Leong Bank Berhad as the tender panel member has considered the factors involved and believes the objectivity and independence in carrying out its role has been and/or will be maintained at all times for the following reasons:

(a)      the conduct of Hong Leong Bank Berhad is regulated by Bank Negara Malaysia under the Financial Services Act 2013; and
 
(b)      Hong Leong Bank Berhad as the tender panel member is solely submitting bids on behalf of other interested investors based on the order(s) received from the interested investors and it is one of the tender panel members for the proposed issuance of the commercial papers,

and in order to further mitigate and address such potential conflict of interest, the following measures have been taken:

(I)       the board of directors of the Issuer has authorised its Chief Financial Officer to approve any conflict of interest arises throughout the Senior CP Programme and to agree to proceed with the Senior CP Programme taking into account the relevant factors and reasons; 

(II)     the potential conflict of interest situation has been brought to the attention of the Chief Financial Officer of the Issuer and hence the Chief Financial Officer of the Issuer is fully aware of the same. The Chief Financial Officer of the Issuer has acknowledged and confirmed that having considered the above situation, the Chief Financial Officer of the Issuer is agreeable to proceed with the proposed issuance of the commercial papers; and

(III)     the potential conflict of interest is hereby disclosed on behalf of the Issuer to potential investors/ subscribersa