1 |RF/Conventional/ENG_300921 SALES CONVERSATION CHECKLIST FOR ASB2 FINANCING Topic Conversation Guidance with Customer A. Guidance on Details of ASB2 Fund To Tick 1. What is ASB2 Fund? ☐ The fund’s objective is to provide an alternative savings vehicle for Malaysian Bumiputeras. It aims to generate long term, consistent and competitive returns for investors. Financial year end for ASB2 fund is every 31st March. Minimum initial investment: Cash : RM10 Financing (unit) : Multiples of 1,000 units Maximum Investment: Akaun Dewasa : 200,000 units Akaun Bijak : 200,000 units There are 6 funds under Fixed Price Funds and 8 funds under Variable Price Funds. Fixed Price Funds ASB, ASB 2 ASB3 Didik, ASM, ASM 2 Wawasan & ASM 3 Variable Price Funds ASN, ASN Equity 2, ASN Equity 3, ASN Equity 5, ASN Imbang 1, ASN Imbang 2, ASN Sara 1 & ASN Sara 2 ASB2 Fund is a fixed price equity income fund where the price per unit of the fund is fixed at RM1.00 with no sales charges and no fees for redemption of units. Minimum investment is RM10 Maximum investment is RM200,000. Based on the Deed of the funds, ASNB is allowed to close the account should the balance in the account fall below the minimum investment balance as stated in the Master Prospectus. Therefore, unit holders are advised to maintain the minimum investment balance in the account at all times throughout the financial year of the fund(s), to avoid closure of the said account thus affecting future income distribution entitlement, if any. 2. Benefits of Investing in ASB2 Fund ☐ No upfront payment such as processing fee or management fee as compared other unit trust fund. Monthly benefits of the average percentage of annual interest will be applicable for investment as early as the first month. Competitive return compared to normal saving account and Fixed Deposit account. ASB2 unit can also be used as in local banks as security to get loan in the form of bank overdraft. B. Guidance on Details of ASB2 Financing To Tick 3. What is ASB2 Financing Financing to purchase Amanah Saham Bumiputera 2 (ASB2) unit. ASB2 Financing available in Conventional and Islamic facility. Explain the key differences between Conventional and Islamic facility. ☐
Transcript
1 |RF/Conventional/ENG_300921
SALES CONVERSATION CHECKLIST
FOR ASB2 FINANCING
Topic Conversation Guidance with Customer
A. Guidance on Details of ASB2 Fund To Tick
1. What is ASB2 Fund? ☐
The fund’s objective is to provide an alternative savings vehicle for Malaysian Bumiputeras. It aims to generate long term, consistent and competitive returns for investors.
Financial year end for ASB2 fund is every 31st March.
Minimum initial investment: Cash : RM10 Financing (unit) : Multiples of 1,000 units Maximum Investment:
Akaun Dewasa : 200,000 units Akaun Bijak : 200,000 units
There are 6 funds under Fixed Price Funds and 8 funds under Variable Price Funds.
ASB2 Fund is a fixed price equity income fund where the price per unit of the fund is fixed
at RM1.00 with no sales charges and no fees for redemption of units. Minimum investment is RM10 Maximum investment is RM200,000. Based on the Deed of the funds, ASNB is allowed to close the account should the balance in
the account fall below the minimum investment balance as stated in the Master Prospectus. Therefore, unit holders are advised to maintain the minimum investment balance in the account at all times throughout the financial year of the fund(s), to avoid closure of the said account thus affecting future income distribution entitlement, if any.
2. Benefits of Investing in ASB2 Fund ☐
No upfront payment such as processing fee or management fee as compared other unit trust fund.
Monthly benefits of the average percentage of annual interest will be applicable for investment as early as the first month.
Competitive return compared to normal saving account and Fixed Deposit account. ASB2 unit can also be used as in local banks as security to get loan in the form of bank
overdraft.
B. Guidance on Details of ASB2 Financing To Tick
3. What is ASB2 Financing Financing to purchase Amanah Saham Bumiputera 2 (ASB2) unit. ASB2 Financing available in Conventional and Islamic facility.
Explain the key differences between Conventional and Islamic facility.
☐
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B. Guidance on Details of ASB2 Financing To Tick
Conventional Islamic
Concept A term loan to purchase ASB2 unit trust certificate.
Shariah-compliant term financing facility for customers to purchase the ASB2 unit trust certificate.
Selling Price / Capping
Not applicable
Monthly profit will be calculated on effective profit rate; of which may change from time to time. Despite the changes, total amount payable will not exceed the selling price that has been determined upfront.
Late Payment Charges
Penalty charge of 1% p.a. will be imposed on overdue amount from date of default (subject to grace period of 7 days) until the date of receipt of payment by the Bank.
Late payment charges of 1% p.a. will be imposed on the overdue monthly instalment payment from the first drawdown until its maturity date.
The amount of LPC charged to the customer will not be further compounded to the outstanding Facility Amount.
Rebate Not Available Rebate will be given on the remaining unearned profit upon early settlement or early termination.
Early Settlement
Fees
No early settlement fee / exit penalty fee. The customer will not be penalized for settlement of
financing at any time during the duration/tenure of the facility.
This means there is no locked in period or exit penalty for a customer that wishes to settle the financing early.
Customer has to decide to opt for conventional or Islamic:
Conventional ☐
Islamic ☐
4. Benefit of taking ASB2 Financing ☐
No initial capital outlay required where customer are able to invest in ASB2 to the maximum initial limit allowed by ASNB.
Enjoy an optimum return and benefitted on long-term investment through power of
compounding from reinvestment of dividend.
Stable return despite challenging market environment (better return compared to other low risk investment).
Platform for long term investment and retirement plan on top of EPF or Pension scheme.
No additional security required since the loan is secured against ASB2 unit.
5. Tips to optimize investment through ASB2 Financing ☐
Allocate budget for monthly instalment based on customer’s affordability. Do not depend on dividends.
Discipline ourselves to pay the monthly instalment.
Let the investment and dividend grow without withdrawing the dividend.
6. ASB2 Financing product features has been explained to customer. ☐
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7. Sales Personnel must therefore ensure, that the PDS is given and the contents explained to customer prior to their decision in applying the financing. There are two (2) types of PDSs to be given to the customers as follow:
PDS Customer to Initial When to give to customer
General Before fill in the Application Form
Final X To courier to customer by attaching together with the Letter of Notification.
☐
8. Product Disclosure Sheet has been explained in details and signed by customers. ☐
C. Guidance on ASNB Requirements To Tick
9. Important Point to be Explain to Customer on “Know Your Loan” KYL Leaflet KYL leaflet issued by ASNB has been explained to customer. – Please refer Know Your Loan
(KYL) leaflet as attached.
☐
10. ASNB Surat Akuan has been explained to customers and signed. ☐ 11. ASNB Risk Disclosure Statement has been explained to customer and signed. ☐
D. Guidance on ASB2 Financing Application To Tick
12. Documentation (Applies for all) Application Form has been signed by customer/joint applicant/guarantor and witnessed
accordingly.
Letter of acknowledgement of the agreement has been signed by customer.
☐
13. Additional Documentation (Guarantor) Signed authorization letter for disclosure of Guarantor. Letter of Guarantee.
Notice of Guarantee.
Confirmation Receipt of of Disclosure Letter by Guarantor
I / We hereby confirmed and understood that all the above checklist details has been explain by Maybank Sales Personnel. ______________________________ (signature of customer)
______________________________ (signature of sales personnel)
Name : _________________________________
Date : _________________________________
Name : _________________________________
Date : _________________________________
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To Malayan Banking Berhad (‘the Bank’) Please complete this form in BLOCK LETTERS
Sila isikan borang ini dengan menggunakan HURU F BESAR
ASB FINANCING APPLICATION FORM / BORANG PERMOHO NAN PEMBIAYAAN ASB
Please tick (√) where applicable / Sila tandakan (√) pada mana-mana yang berkenaan
Signature / Tanda Tangan : _________________________
Date / Tarikh : _________________________
6 |RF/Conventional/ENG_300921
F. Foreign Account Tax Compliance Act (FATCA) & Common Reporting Standard (CRS) SELF CERTIFICATION / Akta Pematuhan Cukai Akaun Asing (APCAA) & Standard Pelaporan Bersama (SPB) PENGESAHAN INDIVIDU
The Term U.S. person or United States person means a person decribed in section 7701 (a) (30) of the Internal Revenue Code ; a citizen or resident of U.S. / Istilah individu AS atau individu Amerika Syarikat adalah merujuk kepada individu yang dinyatakan dalam seksyen 7701 (a) (30); Warganegara atau Pemastautin
Please check “ √” Yes or No for each of the following questions: Sila tandakan “√” Ya atau Tidak bagi setiap soalan berikut
Yes / Ya No / Tidak
1. Are you US Citizen? / Adakah anda seorang Warganegara AS
2. Do you hold a U.S. Permanent Resident Card (Green Card)? / Adakah Anda mempunyai Kad Pemastautin AS (Kad Hijau)?
3. Are you a U.S. Resident? Adakah Anda seorang Pemastautin AS?
4. If you have ticked “ No” to all three questions above, then please tick as /
Jika anda menanda “Tidak” kepada ketiga-tiga soalan di atas, sila tandakan sebagai: Non-U. S Person / Bukan Individu AS
5. If you have ticked “ Yes” to any of the three questions above, please tick as:
Jika anda menanda “Ya” kepada mana-mana daripada tiga soalan tersebut, sila tandakan sebagai: U.S. Person / Individu AS
Please fill up / Sila isi borang: U.S. IRS form W9 (https://www.irs.gov/pub/irs-pdf/fw9.pdf?portlet=103)
G. JURISDICTION OF RESIDENCE AND TAXPAYER IDENTIFICATION NUMBER (TIN) / NEGARA PEMASTAUTIN DAN NOMBOR
PENGENALAN PEMBAYAR CUKAI (TIN)
Please Complete the following table indication / Sila Lengkapkan jadual yang berikut:
a) The jurisdiction of residence where the account holder is resident for tax purposes (except for Malaysia) and / Bidang kuasa pemastautin yang mana
pemegang akaun adalah pemastautin bagi tujuan percukaian (kecuali bagi Malaysia); dan b) The account holder’s TIN for each jurisdiction indicated. Indicate all jurisdictions of residence. / TIN pemegang akaun bagi setiap bidang kuasa yang
dinyatakan. Nyatakan semua bidang kuasa pemastautin.
If a TIN is unavailable, indicate which of the following reason is applicable / Jika tiada TIN, nyatakan salah satu alasan yang berkaitan seperti yang berikut:
Reason A / Alasan A - The jurisdiction where the accont holder is a resident for tax purposes does not issue TIN to its residents. / Pemegang akaun adalah pemastautin
bagi tujuan percukaian di dalam Negara yang tidak mengeluarkan TIN untuk pemastautinnya.
Reason B / Alasan B – The account holder is unable to obtain a TIN / Pemegang Akaun tidak boleh memperoleh TIN.
Reason C / Alasan C – TIN is not required. / TIN tidak diperlukan.
(Note: Select this reason only if the authorities of the jurisdiction do not require the TIN to be disclosed.)./ (Nota: Pilih alasan C sahaja sekiranya pihak berkuasa
cukai tempatan tidak menghendaki TIN dilaporkan.)
Country of Tax Residence / Negara Pemastautin Cukai TIN If no TIN available, indicate Reason / Jika TIN tidak diperoleh nyatakan Alasan A, B, or C
1
Please explain in the following boxes why you are unable to obtain a TIN if you selected Reason B above / Jika anda memilih Alasan B, sila nyatakan dalam
ruangan yang berikut mengapa anda tidak boleh memperoleh TIN.
2
Note: if the account holder is a resident for tax purposes in more than one country, please use separate sheet / Nota: Sila gunakan helaian berasingan
sekiranya pemegang akaun adalah pemastautin bagi tujuan percukaian lebihdaripada satu Negara.
E. PERSONAL DATA PROTECTION ACT (PDPA) 2010 / AKTA PERLINDUNGAN DATA PERIBADI (APDP) 2010
By signing this form, I / we further confirm that all personal data that I / we have provided are all true, up-to-date and accurate. Should there be any changes to any of
my / our personal data, I / we shall notify Malayan Banking Berhad immediately. / Dengan menandatangani borang ini, saya / kami seterusnya mengesahkan bahawa
kesemua data peribadi yang saya/kami berikan adalah semuanya benar, terkini dan tepat. Sekiranya terdapat apa-apa perubahan pada mana-mana data peribadi
saya / kami, saya / kami akan memaklumkan kepada Malayan Banking Berhad dengan serta merta.
With regards to promotional and marketing materials: / berkenaan dengan bahan-bahan promosi dan pemasaran:
☐ Yes, I / we expressly agree to Malayan Banking Berhad and / or other Entities processing my / our personal data for promotional and marketing purposes. / Ya,
saya / kami menyatakan persetujuan untuk Malayan Banking Berhad dan / atau Entiti -entiti Lain memproses data peribadi saya / kami untuk tujuan promosi
dan pemasaran.
☐ No, I / we do not agree to Malayan Banking Berhad Group and / or other Entities processing my / our personal data for promotional and marketing purposes.
Tidak, saya / kami tidak bersetuju untuk Malayan Banking Berhad dan / atau Entiti-entiti Lain memproses data peribadi saya / kami untuk tujuan promosi dan pemasaran
PF No. (for Maybank Group Staff only) / No. Pekerja (staf Kumpulan Maybank sahaja)
Relatives working at Maybank Group / Ahli keluarga bekerja di Kumpulan
Maybank
☐ Yes / Ya ☐ No / No
I. PERSONAL DATA PROTECTION ACT (PDPA) 2010 / AKTA PERLINDUNGAN DATA PERIBADI (APDP) 2010
By signing this form, I / we further confirm that all personal data that I / we have provided are all true, up-to-date and accurate. Should there be any changes to any
of my / our personal data, I / we shall notify Malayan Banking Berhad immediately. / Dengan menandatangani borang ini, saya / kami seterusnya mengesahkan
bahawa kesemua data peribadi yang saya/kami berikan adalah semuanya benar, terkini dan tepat. Sekiranya terdapat apa-apa perubahan pada mana-mana
data peribadi saya / kami, saya / kami akan memaklumkan kepada Malayan Banking Berhad dengan serta merta.
With regards to promotional and marketing materials : / berkenaan dengan bahan-bahan promosi dan pemasaran:
☐ Yes, I / we expressly agree to Malayan Banking Berhad and / or other Entities processing my / our personal data for promotional and marketing purposes.
Ya, saya / kami menyatakan persetujuan untuk Malayan Banking Berhad dan / atau Entiti-entiti Lain memproses data peribadi saya / kami untuk tujuan
promosi dan pemasaran.
☐ No, I / we do not agree to Malayan Banking Berhad and / or other Entities processing my / our personal data for promotional and marketing purposes.
Tidak, saya / kami tidak bersetuju untuk Malayan Banking Berhad dan / atau Entiti-entiti Lain memproses data peribadi saya / kami untuk tujuan promosi
dan pemasaran.
8 |RF/Conventional/ENG_300921
J. Foreign Account Tax Compliance Act (FATCA) & Common Reporting Standard (CRS) SELF CERTIFICATION / Akta Pematuhan Cukai Akaun Asing (APCAA) & Standard Pelaporan Bersama (SPB) PENGESAHAN INDIVIDU
The Term U.S. person or United States person means a person decribed in section 7701 (a) (30) of the Internal Revenue Code ; a citizen or resident of U.S. / Istilah individu AS atau individu Amerika Syarikat adalah merujuk kepada individu yang dinyatakan dalam seksyen 7701 (a) (30); Warganegara atau Pemastautin
Please check “ √” Yes or No for each of the following questions: Sila tandakan “√” Ya atau Tidak bagi setiap soalan berikut
Yes / Ya No / Tidak
1. Are you US Citizen? / Adakah anda seorang Warganegara AS
2. Do you hold a U.S. Permanent Resident Card (Green Card)? / Adakah Anda mempunyai Kad Pemastautin AS (Kad Hijau)?
3. Are you a U.S. Resident? Adakah Anda seorang Pemastautin AS?
4. If you have ticked “ No” to all three questions above, then please tick as /
Jika anda menanda “Tidak” kepada ketiga-tiga soalan di atas, sila tandakan sebagai: Non U.S Person / Bukan Individu AS
5. If you have ticked “ Yes” to any of the three questions above, please tick as:
Jika anda menanda “Ya” kepada mana-mana daripada tiga soalan tersebut, sila tandakan sebagai: U.S. Person / Individu AS
Please fill up / Sila isi borang: U.S. IRS form W9 (https://www.irs.gov/pub/irs-pdf/fw9.pdf?portlet=103)
K. JURISDICTION OF RESIDENCE AND TAXPAYER IDENTIFICATION NUMBER (TIN) / NEGARA PEMASTAUTIN DAN NOMBOR PENGENALAN PEMBAYAR CUKAI (TIN)
Please Complete the following table indication / Sila Lengkapkan jadual yang berikut:
a) The jurisdiction of residence where the account holder is resident for tax purposes (except for Malaysia) and / Bidang kuasa pemastautin yang mana
pemegang akaun adalah pemastautin bagi tujuan percukaian (kecuali bagi Malaysia); dan b) The account holder’s TIN for each jurisdiction indicated. Indicate all jurisdictions of residence. / TIN pemegang akaun bagi setiap bidang kuasa yang
dinyatakan. Nyatakan semua bidang kuasa pemastautin.
If a TIN is unavailable, indicate which of the following reason is applicable / Jika tiada TIN, nyatakan salah satu alasan yang berkaitan seperti yang berikut:
Reason A / Alasan A - The jurisdiction where the accont holder is a resident for tax purposes does not issue TIN to its residents. / Pemegang akaun adalah pemastautin
bagi tujuan percukaian di dalam Negara yang tidak mengeluarkan TIN untuk pemastautinnya.
Reason B / Alasan B – The account holder is unable to obtain a TIN / Pemegang Akaun tidak boleh memperoleh TIN.
Reason C / Alasan C – TIN is not required. / TIN tidak diperlukan.
(Note: Select this reason only if the authorities of the jurisdiction do not require the TIN to be disclosed.)./ (Nota: Pilih alasan C sahaja sekiranya pihak berkuasa
cukai tempatan tidak menghendaki TIN dilaporkan.)
Country of Tax Residence / Negara Pemastautin Cukai TIN If no TIN available, indicate Reason / Jika TIN tidak diperoleh nyatakan Alasan A, B, or C
1
Please explain in the following boxes why you are unable to obtain a TIN if you selected Reason B above / Jika anda memilih Alasan B, sila nyatakan dalam
ruangan yang berikut mengapa anda tidak boleh memperoleh TIN.
2
Note: if the account holder is a resident for tax purposes in more than one country, please use separate sheet / Nota: Sila gunakan helaian berasingan
sekiranya pemegang akaun adalah pemastautin bagi tujuan percukaian lebihdaripada satu Negara.
L. OTHER DETAILS / LAIN-LAIN MAKLUMAT
Do you have Maybank / Maybank Islamic Saving Account? Adakah anda mempunyai Akaun Simpanan Maybank / Maybank Islamik?
☐ Yes, my account no. is / Ya, no akaun saya adalah _____________________________________________
☐ No, please open a saving account for me / Tidak, sila buka akaun simpanan bagi saya
What other financial products / services would you require in the near future? / Lain-lain produk / perkhidmatan yang diperlukan pada masa hadapan?
☐ Credit Card / Kad kredit ☐ Insurance (General) / Takaful (Am)
Company / Institusi Remaining Tenure / Tempoh Baki Monthly Payment / Ansuran Bulanan
NOTE / NOTA : Non-Financial Institutions related eg: monthly installment to finance the purchase of washing machine or furniture from “ Consumer Electronics and Furniture
Retailers” / Berkaitan dengan Institusi Bukan Kewangan, contoh: ansuran bulanan untuk pembelian mesin basuh atau perabot dengan "Peruncitan Pengguna Elektrik dan Perabot"
N. PERSONAL REFERENCE / RUJUKAN PERIBADI
Personal Reference (Immediate Family Member) / Rujukan Peribadi (Ahli Keluarga Terdekat):
Name / Nama : _______________________________________________________________________________________________________
Relationship / Hubungan : _______________________________________________________________________________________________________
City / Bandar _______________________________________________________ State / Negeri ____________________________________________________
House Tel. No. / No. Tel. Rumah : __________________________________ Office Tel No/No.Tel. Pejabat : _____________________________________
10 |RF/Conventional/ENG_300921
O. DECLARATION BY MAIN APPLICANT (IF APPLICABLE) / PENGAKUAN OLEH PEMOHON (JIKA BERKENAAN)
A. I / We hereby declare that all the information given by me / us is true and I / we have not withheld any material fact. If any of the information given by me
/ us becomes inaccurate or misleading or changes in anyway, whether before this application is approved or whilst the financing is outstanding, I / we shall
promptly notify the Bank and/or the insurer (where applicable) of such changes.
Saya / Kami mengaku bahawa semua maklumat yang diberikan oleh saya / kami adalah benar dan saya / kami tidak menyembunyikan apa-apa maklumat.
Jika ada mana-mana maklumat yang diberikan oleh saya / kami adalah tidak tepat atau mengelirukan atau berubah-ubah, samada sebelum permohonan
ini diluluskan ataupun masih dalam pertimbangan, saya / kami akan memaklumkan mengenai perubahan maklumat tersebut kepada pihak Bank dan/atau
pihak syarikat insuran (dimana berkenaan) dengan segera.
B. I / We hereby declare that all the information given including but not limited to information from any financings that I / we have obtained or in the processing
of obtaining from any financial and non-financial institution is true, accurate and complete and I / we have not withheld any material facts or information in
relation thereto. If any information given by me / us herein becomes inaccurate or there are any material changes in anyway, whether before this application
is approved or while this application of financing is outstanding, I / we hereby undertake to notify the Bank and/or the insurer (where applicable) of such
changes with immediate effect. I / We hereby further declare that I / we do not have any other financing from financial or non-financial institutions other
than as declared herein.
Saya / Kami dengan ini mengesahkan bahawa semua maklumat yang diberi, termasuk tetapi tidak terhad kepada maklumat daripada mana-mana
pembiayaan yang saya / kami telah peroleh atau dalam proses untuk mendapatkan pembiayaan daripada mana-mana institusi kewangan dan bukan kewangan adalah benar, tepat dan lengkap, dan saya / kami tidak menyembunyikan apa-apa fakta material atau maklumat berhubung dengannya. Jika
apa-apa maklumat yang diberikan oleh saya / kami dalam dokumen ini menjadi tidak tepat atau terdapat apa-apa perubahan penting dengan cara apa jua,
sama ada sebelum permohonan ini diluluskan atau ketika permohonan pembiayaan ini belum selesai, saya / kami dengan ini mengaku janji untuk
memaklumkan pihak Bank dan/atau pihak syarikat insuran (dimana berkenaan) tentang perubahan itu dengan serta-merta. Saya / Kami dengan ini
mengisytiharkan selanjutnya bahawa saya / kami tidak mempunyai apa-apa pembiayaan lain daripada institusi kewangan atau bukan kewangan lain selain
yang diisytiharkan dalam dokumen ini.
C. I / We authorize and consent to the Bank and its representative to obtain information pertaining to this application from any source, including but not limited
to credit information, from the Inland Revenue Authorities, EPF, other financial institutions, Central Credit Reference Information System (CCRIS), SME
Credit Bureau, any other credit reference agencies, physicians, hospitals, clinics, any other person, individual and / or entity, as the Bank deems appropriate,
without assigning any reason whatsoever.
Saya / Kami memberi kebenaran dan persetujuan kepada pihak Bank dan wakilnya untuk mendapatkan maklumat berkaitan dengan permohonan ini dari
mana-mana sumber termasuk dan tetapi tidak terhad kepada maklumat kredit dari Lembaga Hasil Dalam Negeri, KWSP, institusi -institusi kewangan yang
lain, Sistem Maklumat Kredit Pusat (CCRIS), Kredit Biro SME, mana-mana ejen rujukan kredit, doctor, hospital, klinik individu dan / atau entiti yang
dianggap bersesuaian oleh pihak Bank, tanpa perlu menyatakan sebarang alasan.
The Bank is expressly authorised to discuss with my / our present and future employer(s) regarding this application.
Pihak Bank diberi kuasa untuk membincangkan permohonan ini bersama majikan semasa dan majikan masa depan saya / kami.
D. I / We shall comply with the Bank's requirements in respect of my / our appl ication and I / we understand that the Bank's offer of the financing shall be
subject to the Bank performing the necessary verification.
Saya / Kami akan mematuhi segala keperluan pihak Bank untuk permohonan saya / kami dan saya / kami memahami bahawa tawaran pembiayaan oleh
pihak Bank adalah tertakluk kepada pengesahan yang diperlukan oleh pihak bank.
E. I / We expressly consent to and authorize the Bank to disclose to Bank Negara Malaysia, any other bodies, authorities such as CAGAMAS and debt collection
agents, any person(s) in or outside Malaysia including but not limited to companies within the group of the Bank, whether such group of companies are
residing, situated, carrying on business, incorporated or constituted within or outside Malaysia, including but not limited to the respective agents, authorised
and appointed agents for purpose of providing integrated services, maintaining and storing records (financial or otherwise), at any time and without liability,
any information and particulars (financial or otherwise) relating to my / our affairs and accounts, financing and conduct thereof for such purposes as the
Bank deems fit or appropriate. / Saya / Kami memberi kebenaran dan memberi kuasa kepada pihak Bank untuk mendedahkan apa-apa maklumat dan butiran
(kewangan atau lain-lain) yang berkaitan dengan urusan dan akaun saya / kami, pembiayaan dan pengendalian,kepada Bank Negara Malaysia, badan-
badan lain, pihak berkuasa seperti CAGAMAS, ejen pemungut hutang, mana-mana individu di dalam atau di luar Malaysia termasuk tetapi tidak terhad
kepada syarikat-syarikat dalam kumpulan Bank, sama ada kumpulan syarikat tersebut menetap, menjalankan perniagaan, diperbadankan atau ditubuhkan
di dalam atau di luar Malaysia, termasuk tetapi tidak terhad kepada ejen-ejen tertentu, ejen yang diberi kuasa dan dilantik dengan tujuan menyediakan perkhidmatan bersepadu, memelihara dan menyimpan rekod-rekod (kewangan atau lain-lain) pada masa tertentu dan tanpa liabiliti bagi tujuan yang
dianggap sesuai oleh pihak Bank.
F. I / We hereby agree and consent for the Bank to request for and to obtain all the personal information and data set forth in this fo rm for the purpose of
processing this application and also for all other purposes that are necessary and required in relation to the facility requested by me / us herein including the
transfer, storing and / or disclosing of such personal data to any of our authorised and appointed agents, subsidiaries in or outside Malaysia. I / We also
declare that all personal information and data set forth herein are all true, up todate and accurate and should there be any changes to any personal information
or data set forth herein, I / we shall undertake to notify the Bank immediately.
Saya / Kami dengan ini bersetuju dan membenarkan pihak Bank untuk meminta dan mendapatkan semua maklumat dan data peribadi yang dinyatakan
dalam borang ini bagi tujuan memproses permohonan ini dan juga untuk semua tujuan lain yang diperlukan dan dikehendaki berhubung dengan kemudahan
yang diminta oleh saya / kami dalam borang ini termasuk memindahkan, menyimpan dan / atau mendedahkan data peribadi tersebut kepada mana-mana
ejen kami yang diberi kuasa dan dilantik, anak syarikat di dalam atau di luar Malaysia. Saya / Kami juga mengisytiharkan bahawa semua maklumat dan
data peribadi yang dinyatakan dalam borang ini adalah benar, terkini dan tepat dan sekiranya terdapat apa-apa perubahan kepada apa-apa maklumat
atau data peribadi yang dinyatakan dalam borang ini, saya / kami berjanji untuk memberitahu pihak Bank dengan segera.
G. I / We hereby undertake to inform the Bank if I / we and my / our guarantor(s) and my / our immediate family members (parents , spouses, children and
sibling) are related to any present or future employee(s) of the Bank or the director(s) of the Bank. Dengan ini saya / kami mengakujanji akan memberitahu pihak Bank jika saya / kami dan penjamin saya / kami dan ahli keluarga t erdekat saya / kami (ibu
bapa, suami, isteri, anak-anak dan adik beradik) berkait dengan pekerja Bank atau pengarah Bank pada masa sekarang atau pada masa depan.
H. I / We are not in default on any accounts with the Bank or other financial institutions or under any legal impediments.
Saya / Kami tidak gagal untuk membuat pembayaran terhadap mana-mana akaun Bank atau institusi-institusi kewangan yang lain atau di dalam mana-
mana urusan undang-undang.
I. This application form and all supporting documents that were submitted to the Bank shall be the sole property of the Bank and the Bank is entitled to retain
the same irrespective of whether my / our application is approved or rejected by the Bank.
Borang permohonan ini dan semua dokumen sokongan yang telah diserahkan kepada pihak Bank adalah hak milik mutlak pihak Bank dan pihak Bank
berhak untuk mengekalkan semua dokumen tanpa mengira samada permohonan saya / kami diluluskan atau ditolak oleh pihak Bank.
11 |RF/Conventional/ENG_300921
J. I / We understand that the Bank reserves the absolute right to approve or decline or vary the financing amount of this application as the Bank deems fit
without assigning any reason.
Saya / Kami faham bahawa pihak Bank mempunyai hak mutlak untuk meluluskan atau menolak permohonan tanpa menyatakan sebarang alasan.
K. We agree to be bound by the Bank’s rules from time to time governing the relevant type of account and financing and that the Bank is entitled to be
indemnified in circumstances set out in such rules. / Saya / Kami bersetuju untuk terikat kepada peraturan-peraturan Bank dari masa ke semasa yang
berkaitan dengan jenis akaun dan pembiayaan dan pihak Bank berhak untuk dibayar ganti rugi dalam keadaan yang tertera di dalam syarat-syarat tersebut.
L. The Bank refers to Malayan Banking Berhad being the licensed financial institution offering the financing product(s) referred to in this application form. /
Bank adalah merujuk kepada Malayan Banking Berhad sebagai institusi kewangan yang dilesenkan untuk menawarkan produk-produk pembiayaan yang
dirujuk dalam borang permohonan ini.
M. I / We understand that the Bank will send a Short Message System (SMS) to my / our (principal applicant) mobile number as stated in this form financing
application is approved by the Bank.
Saya / Kami faham bahawa pihak Bank akan menghantar Sistem Pesanan Ringkas (SMS) ke nombor telefon saya / kami (pemohon utama) seperti yang
dinyatakan di dalam borang permohonan ini jika permohonan pembiayaan saya / kami diluluskan oleh pihak Bank.
N. By signing below I/we hereby confirm having read, understood and agree to be bound by the Terms and Conditions of the ASB/ASB2 Financing as per
terms and conditions attached to this application form and any amendments to the same which the Bank may subsequently introduce from time t o time upon
giving adequate prior notice to me/us. Dengan menandatangani ruangan di bawah, saya/kami dengan ini menjelaskan bahawa kami telah membaca, memahami dan bersetuju untuk terikat
dengan terma-terma dan syarat-syarat yang ditetapkan untuk Pembiayaan ASB/ASB2 dan mengikut apa-apa perubahan dari pihak Bank dari masa ke
semasa dengan memberikan notis kepada saya/kami.
Note: O, P and Q applica ble for Life Insured only
O. I/We confirm that I/we fully understand that my/our answers and declarations given in this application and any other relevant documents completed by
me/us in connection with this application, or amendments thereto, shall be relied upon by the insurer in deciding whether to accept my application or not in
relation to the insurance.
Saya/Kami mengesahkan bahawa saya/kami memahami bahawa jawapan saya/kami dan perisytiharan yang diberikan dalam permohonan in i dan apa-apa
dokumen lain yang berkaitan dilengkapkan oleh saya/kami berkaitan dengan permohonan ini, atau pindaan, hendaklah digunapakai oleh syarikat insurans
dalam memutuskan sama ada untuk menerima permohonan saya atau tidak berkaitan insurans.
P. I/We understand and agree that the certificate of insurance I/we have applied for shall only commence on the date that the loan is first disbursed, provided
that the application has been approved by the insurer, the full premium has been received by the insurer, and during and prior to, or as at the date of
commencement of the cover.
Saya / Kami memahami dan bersetuju bahawa sijil insurans saya / kami yang telah dipohon hanya akan bermula pada tarikh pinjaman itu mula dikeluarkan,
dengan syarat bahawa permohonan itu telah diluluskan oleh syarikat insurans, premium penuh telah diterima oleh penanggung insurans semasa, sebelum
atau pada tarikh permulaan perlindungan.
Q. I/We hereby authorise Bank to debit my/our account, with details as per above, in respect of my/our insurance contribution or any revised premium amount
as assessed by the underwriters of the insurance operator upon disbursement of the financing.
Saya / Kami dengan ini memberi kebenaran kepada pihak Bank untuk mendebit akaun saya / kami, dengan butiran seperti di atas, berkenaan dengan
premium insuran saya /kami atau mana-mana jumlah premium disemak semula seperti yang dinilai oleh pihak syarikat insuran, setelah pembayaran
pembiayaan dibuat.
R. I/We hereby agree and consent, in line with Personal Data Protection Act (PDPA) 2010, for the Bank to request for and to obtain all the personal information
and data set forth in this form for the purpose of processing this application and also for all other purposes including marketing and promotional purposes
that are necessary and required in relation to the facility requested for by me / us herein including the transfer, storing and / or disclosing of such personal
data to any of our authorised and appointed agents, subsidiaries in or outside Malaysia. I / We also declare that all personal information and data set forth
herein are all true, up todate and accurate and should there be any changes to any personal information or data set forth herein, I / we shall undertake to
notify the Bank immediately.
Saya / Kami dengan ini bersetuju dan membenarkan, bertepatan dengan Personal Data Protection Act (PDPA) 2010, pihak Bank untuk meminta dan
mendapatkan semua maklumat dan data peribadi yang dinyatakan dalam borang ini bagi tujuan memproses permohonan ini dan juga untuk semua tujuan
lain termasuk untuk tujuan pemasaran dan promosi yang diperlukan dan dikehendaki berhubung dengan kemudahan yang diminta oleh saya / kami dalam
borang ini termasuk memindahkan, menyimpan dan / atau mendedahkan data peribadi tersebut kepada mana-mana ejen kami yang diberi kuasa dan
dilantik, anak syarikat di dalam atau di luar Malaysia. Saya / Kami juga mengisytiharkan bahawa semua maklumat dan data perib adi yang dinyatakan
dalam borang ini adalah benar, terkini dan tepat dan sekiranya terdapat apa-apa perubahan kepada apa-apa maklumat atau data peribadi yang dinyatakan
dalam borang ini, saya / kami berjanji untuk memberitahu pihak Bank dengan segera.
S. I/We undertake to notify the Bank in writing within 30 calendar days if there is a change in any information relating to FATCA which I/we have provided
to the Bank and I/we hereby consent that the Bank may take following action:
Saya/Kami berjanji untuk memaklumkan kepada pihak Bank secara bertulis dalam tempoh 30 hari sekiranya berlaku perubahan berkaitan dengan maklumat
berkenaan dengan FATCA yang telah diberikan kepada pihak Bank dan saya/kami memberi kebenaran untuk pihak Bank bertindak seperti berikut:-
a) to report my/our information to regulatory authorities in accordance with the requirements of FATCA as may be stipulated by applicable laws,
regulations, agreement, guidelines or directives;
Melaporkan maklumat berhubung akaun tersebut kepada pihak berkuasa mengikut keperluan FATCA seperti yang ditetapkan oleh undang-
undang, peraturan, perjanjian, panduan atau arahan;
b) to withhold from my/our account(s) such amounts in accordance with the requirements of FATCA as may be stipulated by applicab le laws,
regulations, agreement, guidelines or directives; and/or
Menahan sebarang amaun daripada akaun saya/kami mengikut keperluan FATCA seperti yang ditetapkan oleh undang-undang, peraturan,
perjanjian, panduan atau arahan; dan/atau
c) to classify me/us as a recalcitrant account holder and/or suspend, recall or terminate my/our account(s) and/or facilities granted to me/us, in the
event I/we fail to provide accurate and complete information and/or documentation as the Bank may require
Mengklasifikasikan saya/kami sebagai pemegang akaun ingkar dan/atau menggantung, menghentikan atau menamatkan akaun saya/kami
dan/atau pembiayaan yang diberikan kepada saya/kami, sekiranya saya/kami gagal untuk memberikan maklumat dan/atau dokumen yang tepat
dan lengkap seperti yang dikehendaki oleh pihak Bank.
Branch Code / Kod Cawangan ___________________________________
TERMS AND CONDITIONS FOR GRANTING OF FACILITY (“APPLICATION”)
The application of the Amanah Saham Bumiputera (“ASB”) / Amanah Saham Bumiputera 2 (“ASB2”) / ASB Plus / ASB2 Plus Financing
(“Facility”) under Amanah Saham Bumiputera/Amanah Saham Bumiputera 2 (hereinafter referred to as “ASB Units”), by the applicant(s)
(“Customer”) shall be subject to the approval by Malayan Banking Berhad (Company No. 200701029411) (“ the Bank”) in the manner that the
Bank may deem fit and in accordance to the following terms and conditions herein and made known to the Customer at the time of application of
the Facility (“Application”). These terms and conditions shall be binding on the Customer immediately upon approval of the Fa cility by the Bank.
All reference made to “Security Document s” hereto includes the Application, these terms and conditions, Letter of Guarantee or any other documents executed by the Customer/Guarantor in relation to this Application, where necessary.
All reference made to “Indebtedness” hereto means the aggregat e of all monies and liabilit ies whether principal, interest, costs, charges, commission
or otherwise outstanding, due and payable or agreed to be payable by the Customer and/or the Guarantor to the Bank from time to time whether
solely or jointly with any other person for the payment of all monies by the Customer and/or the Guarantor in respect of or arising from the Facility.
1. Letter of Notification
Upon the Bank’s approval of the Customer’s application of the Facility, a Letter of Notification will be given to the Customer by the
Bank, stating the Loan Amount approved, Base Rate, interest, rate, tenure, number of the ASB Units to be charged to the Bank as security
for the Facility approved, the instalments amount(s), fees and other charges and any other terms and conditions. The Letter of Notification
shall be a computer generated notice and shall form part of this terms and conditions.
The Customer is required to promptly notify the Bank in writing within fourteen (14) calendar days from the date the Customer receives
the Letter of Notification from the Bank of any error or omission or in the event that the Customer does not wish to proceed with the Facility, failing which it is only reasonable that the Bank regards the Customer to have confirmed and accepted the terms and conditions
as set out in the Letter of Notification and the Customer shall be precluded from making any claim against the Bank alleging that the
terms and conditions as set out in the Letter of Notification contains any error or omission and/or that the same is not confirmed and
accepted by the Customer or the Customer does not wish to proceed with the Facility.
13 |RF/Conventional/ENG_300921
TERMS AND CO NDITIO NS FO R GRANTING O F FACILITY (“APPLICATIO N”)
2. Condition Precedent for Disbursement
The obligation of the Bank to make any disbursement under the Facility is strictly subject to the fulfilment in the manner satisfactory to
the Bank prior to the making of any such disbursement, of the following Conditions Precedent:
(a) the relevant transaction documents (including the Charge and Assignment under Section IV below) shall have been duly executed,
stamped and presented for registration with such registries as the Bank may deem necessary or expedient.
(b) searches have been conducted on the Customer and/or any Guarantor providing security for the Facility (if applicable) at Jabatan
Insolvensi Malaysia (“JIM”) confirming that the Customer and/or the Guarantor have not been adjudicated bankrupt and there is no
bankruptcy proceedings pending against the Customer or such Guarantor.
(c) that as from the date when the Customer first applied for the Facility, there has been no material alterations or changes or event or
events occurred which could or might materially or adversely affect the Customer’s and/or the Guarantor’s financial condition or
otherwise or the Customer’s and/or the Guarantor’s ability to observe and perform their obligations under this document (the application form and these Terms & Conditions shall form and be treated as the governing document between the Customer and the
Bank and shall be referred to as “Agreement”) and/or the Charge and Assignment and/or the other transaction documents which
could or might adversely affect the decision of the Bank to proceed with the granting of the Facility.
(d) the Customer and/or the Guarantor (where applicable) has disclosed to the Bank all material facts known to the Customer or such
Guarantor relating to their financial condition(s).
(e) the Customer and/or the Guarantor are not in default under any agreement to which th ey are party or by which they may be bound
and no lit igation arbitration or administrative proceedings are presently current or pending or threatened which default lit i gation
arbitration or administrative proceedings as the case maybe might in the reasonable opinion of the Bank materially affect the
Customer’s and/or the Guarantor’s solvency or might affect the Customer’s and/or the Guarantor’s ability to observe and perform
their obligations under this Agreement and/or the Charge and Assignment and /or the other relevant transaction documents, as the
case may be.
(f) the Bank is satisfied that no event has occurred so as to render any Indebtedness under the Facility to become immediately pa yable
and no Event of Default (as defined hereinafter) under the Facility has occurred or is threatened.
(g) there shall have been obtained all approvals, consents, authorisations and licenses, including but not limited to those which may be
required from any governmental or statutory or regulatory authorities or creditors, which are necessary or expedient for the
Customer’s obtaining of the Facility from the Bank hereunder, the execution and where appropriate, the registration of the re levant
transaction documents in respect of the Facility, the carrying out of the Customer’s business and/or affairs and for the transactions
contemplated herein and in the other transaction documents.
(h) the Customer and/or any other relevant party shall have fulfilled, in a manner satisfactory to the Bank, all other conditions precedent
and/or terms and conditions as set out in this Agreement or such other terms and conditions (including, but not limited to, any
conditions subsequent) which may subsequently be imposed by the Bank from time to time.
(i) all other sums whatsoever due and payable by the Customer to the Bank, as shall have been notified to the Customer for the purposes
of disbursement of the Facility shall have been duly paid to the Bank.
3. Disbursement of the Facility
(a) Upon approval of the Facility, a letter of notification (“Notification Letter”) will be issued by the Bank to the Customer. The details
of the Facility and any variation to the financing amount will be stated in the said letter.
(b) The Facility will be paid/credited directly into the designated account with the Bank or any other account maintained by the Customer
with the Bank subject to the fulfilment of the following:
(i) All necessary legal documentation in respect of the Facility (including, but not limited to, the transaction documents) shall
have been duly executed.
(ii) All necessary fees, costs and expenses including stamp duty shall have been fully paid by the Customer.
(iii) All other terms and conditions as imposed by the Bank (whether in any one or more of the Transactions Documents or
otherwise) shall have been complied with to the Bank’s satisfaction.
(c) The depositing or payment of the Facility into the designated account or any other account maintained by the Customer with the
Bank or in such manner or to such party as determined by the Bank in the manner stated above shall be de emed to be effective payment thereof to or for the Customer’s benefit .
4. Repayment
The first repayment of the monthly instalment of the Facility as stated in the Letter of Notification shall be made by the Customer no later
than the [first (1st) day] of the following month in which the first disbursement of the Facility has been made and thereafter each subsequent
monthly instalment shall be made each subsequent month no later than the [first (1st) day] of each relevant subsequent month thereafter
until full repayment of the Facility.
14 |RF/Conventional/ENG_300921
5. Cost
The Customer shall be responsible to pay all stamp duties, commissions, fees, taxes, costs, expenses or other charges payable in respect
of or in connection with, the registration and execution of any document including, but not limited to, any one or more of the transaction
documents. The Bank hereby reserves the right to debit with seven (7) days prior notice to the Customer of such intention of such amounts
from any one or more of the Customer’s account(s) with the Bank (including, but not limited to, the designated account) in the event of non-payment of the aforesaid and it will form part of the Indebtedness due by the Customer under the Facility .
6. Charge on ASB Units
(a) ASB Certificate: In consideration of the Bank at the request of the Customer having granted or granting or continuing to grant the
Facility and such other advances, financing, credit, or banking facilit ies or other accommodation for so long as the Bank may think
fit to the Customer and for better securing the payment of the indebtedness by the Customer, the Customer (for joint application, it
shall refer to the Certificate Holder) as beneficial owner and as a continuing security for the due and punctual payment and discharge
of the indebtedness and for the observance and performance of the obligations of the Guarantors of their other obligations and
liabilit ies in connection with or arising from the Security Documents, hereby charges in favour of the Bank by way of a first fixed
legal charge, and assigns absolutely to the Bank all the Customer’s rights, t it le and interest in and to the ASB Certificate and the
proceeds of sale of the ASB Certificate to the Bank free from all security interests.
(b) Pledge: The Customer hereby pledges or agrees to pledge the ASB Certificate as a continuing security for the due payment to the
Bank of the Indebtedness. All reference to a “charge” shall include a “pledge” and “to charge” shall include “to pledge”.
(c) Dividends: The security created herein shall affect the ASB Certificate which shall include:-
(i) All dividends paid or payable on any of the ASB Certificate;
(ii) All stocks, shares and other securities (together with all dividends paid or payable thereon), rights, moneys or other property
paid, distributed, accruing or offered at any time (by way of dividend, bonus, redemption, rights, preference, option, warrant
or otherwise) on, to or in respect of or in substitution for any of the ASB Certificate; and
(iii) The proceeds of sale and redemption and any payment or receipt of, on or in respect of any of the ASB Certificate.
PROVIDED THAT the Bank shall not incur any liability in respect of any calls instalments or other payments in respect of the ASB
Certificate.
(d) Receipt by Customer: If any moneys, shares, stocks or other securities (including any dividends thereon), rights or other property
are distributed or offered to or received by the Customer of, on, or in respect of or in substitution for any of the ASB Cert ificate, the
Customer shall immediately notify the Bank of such distribution, offer or receipt and the same shall be received and held by the
Customer in trust for the Bank, shall be segregated from other property and funds of the Customer and shall be immediately pa id or, as the case may be, delivered to the Bank to be dealt with in accordance with this Facility (and, in the case of any such shares, stocks
or other securities, the Customer shall deliver or cause to be delivered to the Bank immediately certificates thereof togethe r with
transfers relating thereto executed in blank by the persons named therein as the registered holders thereof or in such other manner as
the Bank may specify).
(d) Registration: The Bank shall decide on whether or not and when to proceed with the procuring of the registration of any or al l of the
ASB Certificate in the name of the Bank or its nominees (including, without prejudice to the generality of the foregoing, power to
deliver and/or withdraw the ASB Certificate or any of them to and/or from any depository) and all the ASB Certificate shall be
continuing security for the Indebtedness whether or not the ASB Certificate have been so registered and notwithstanding that the
same may be registered in the name of the Bank or its nominees.
7. ASB/ASB2 Plus Financing (If applicable)
(a) The ASB/ASB2 Plus Financing amount shall not at any time exceed the existing ASB/ASB2 Financing Facility amount and the
ASB/ASB2 Plus Financing amount excludes the Personal Reducing Term Assurance (PRTA) amount that is to be financed, if the same requested by Customer.
(b) Part of the ASB/ASB2 Plus Financing shall be used to fully settle the existing ASB/ASB2 Financing with the Bank and the balance
of the ASB/ASB2 Plus Financing amount shall be used to purchase the ASNB’s Fixed Price Fund that has been agreed by Customer
as stated in the Application Form.
(c) Upon full settlement of the existing ASB/ASB2 Financing facility the existing ASB units which are charged to the Bank shall
continuously be charged to the Bank as security for the ASB/ASB2 Plus Financing until full settlement of the ASB/ASB2 Plus
Financing.
(d) For ASB/ASB2 Plus Financing with Guarantor/Joint Borrower the ASB/ASB2 Plus will be used to purchase the ASNB Fixed Price
Fund based on the amount as agreed upon and as stated in the Application Form.
8. Continuing Security
(a) The security shall constitute and be a continuing security and shall remain in force until all the indebtedness are paid and discharged
in full but without prejudice to all the Bank’s rights and remedies against the Customer in respect of any antecedent claim or breach
of covenant and any partial or intermediate settlement of account, or reduction or payment of any part of the indebtedness, o r any
other matter or thing, and shall be in addition to and shall not be in any way prejudiced or affected by any collateral or other security
from time to time held, or judgment or order obtained by the Bank for all or any part of the indebtedness, nor shall any such collateral
15 |RF/Conventional/ENG_300921
or other security, judgment or order or any lien to which the Bank may be entitled or the liability of the Customer and/or Guarantor
or any other party who are not parties hereto for all or any part of the indebtedness be in any way prejudiced or affected by these
terms and conditions and the security created shall be additional and without prejudice to any other security which the Bank may hold from time to time.
(b) In the event of the commencement of a petition of bankruptcy against the Customer, as the case may be, or if the Bank shall a t any
time receive notice of any subsequent mortgage, charge, assignment, hypothecation, pledge, lien or other profit like matter, event or
transaction affecting any part herein, the Bank may open a new account or accounts for the Customer in its books. If the Bank does
not in fact open such new account then, unless it gives express written notice to the Customer to the contrary, the Bank shall be
treated as if it has in fact opened such account or accounts at the time when it received such notice. As from that time and unless
such express written notice shall be given to the Customer by the Bank, all payment by or on behalf of the Customer to the Bank
shall be credited, or treated as having been credited, to a new account of the Customer and not as having been applied in reduction of the indebtedness at the time when such notice was received.
(c) Any amount received or recovered by the Bank pursuant to this clause and/or any of the powers may be placed in the non -income
bearing suspense account and kept there for so long as the Bank thinks fit without being applied towards discharging the Indebtedness.
(d) The security created shall not be discharged or affected by:-
(i) any time, indulgence, waiver or consent at any time given or allowed by the Bank to the Customer and/or Guarantor or any other person,
(ii) any amendment to the terms and conditions or any other security, guarantee or indemnity,
(iii) the making or absence of any demand by the Bank on the Customer and/or Guarantor or any other person for payment,
(iv) the enforcement or absence of enforcement of these terms and conditions or any other securities, guarantee or indemnity,
(v) the release of any other security, guarantee or indemnity (including the release of any of the ASB Units,
(vi) the illegality, invalidity or unenforceability of or any defect in the provision or any other security, guarantee or indemnity or
any of the obligations of any of the parties or by any legal limitation, or lack of authority of any person appearing to be a cting
for the Customer, any Guarantor or any other party in any matter in respect of the Indebtedness or any part or by any other fact
or circumstances (whether known or not to the Customer, any Guarantor, the Bank or any other party) as a result of which the Indebtedness or any of the Security Documents may be rendered illegal, void or unenforceable by the Bank, or
(vii) any other matter or thing
9. Maintenance of Margin of Security (a) The Customer undertakes to maintain such margin of security over the Indebtedness as the Bank shall from time to time reasona bly
stipulate either by the deposit with or provision to the Bank of additional security approved by the Bank whereupon such additional
security shall form part of the ASB Certificate or by the payment to the Bank or its nominee in cash of such amount and upon such
terms as the Bank shall require.
(b) The Customer hereby authorizes the Bank to apply all the benefits, rights and entitlements arising from the ASB Certificate or
attaching to them towards making good any shortfall in the aforesaid margin .
10. Powers of the Bank
(a) The Bank shall have the power after the security created become enforceable and with notice to:-
(i) Sell: to sell, exchange, convert into money or dispose of or realize or concur in selling, exchanging, converting into money or
disposing of or realizing the ASB Certificate or any part f as the Bank may select, either by public offer or private contract and
for such consideration and on such terms as it may reasonably think fit and so that (without prejudice) to the generality of the
foregoing) it may do any of those things for a consideration consisting of cash, debentures or other obligations, shares, stock
or other valuable consideration and any such consideration may be payable or deliverable in a lump sum whether immediately
or on a deferred basis or by instalments spread over such period as it may reasonably think fit; and
(ii) Other Powers: to do other acts and things as it may reasonably consider necessary or desirable for the realizing of the ASB
Certificate or any part or incidental or conducive to any of the matters, powers or authorities conferred on it under these terms and conditions and to exercise in relation to the ASB Certificate or any part all such powers, authorities and things as it would
be capable of exercising if it were the absolute beneficial owner of the same.
In any sale or disposal referred to in paragraph (i) the Bank may itself purchase the ASB Certificate or any part free from a ny rights
of redemption on the part of the Customer which is hereby waived and released.
(b) Third Parties: the Customer agrees that any statement in writing from the Bank that the security created by this charged has become
enforceable and that the power of the sale has become exercisable shall be conclusive evidence in favour of any purchaser or other
person to whom any of the ASB Certificate may be transferred and such purchaser or other person will take the same free of the
rights of the Customer. The Customer undertakes to indemnify the Bank against any claim which may be made against the Bank by
such purchaser or any other person by reason of any defects in its t it les to the ASB Certificate.
16 |RF/Conventional/ENG_300921
11. Distribution of Payment
All monies received and/or the powers conferred shall be applied in the following manner and order: -
(i) Charges: in or towards payment of any fees and any costs, charges, and expenses incurred by the Bank then due and payable;
(ii) Secured Debt: in or towards payment to the Bank of the secured debt; and
(iii) Surplus: in a payment of any surplus to the Customer or other person entitled.
12. Power of Attorney
(a) Appointment: The Customer by way of security irrevocably appoints the Bank and its delegate or sub-delegate to be its attorney and
on its behalf and in its name and to execute and do all such assurances, acts and things which the Customer ought to do under the
covenants and provision and generally in its name or otherwise (without prejudice to the generality of the foregoing) to exec ute and
complete any transfer (whether by way of electronic means or otherwise) or other documents which the Bank may re quire for perfecting its t it le to or for resting the ASB Certificate in the Bank or its nominees or in any purchaser and to make any al teration or
addition to the ASB Certificate and generally to sign seal and deliver or perfect any such transfer or other documents and do all such
acts and things may be required for the full exercise of the powers conferred on the Bank.
(b) Ratification: The Customer ratifies and confirms and agrees to ratify and confirm any such attorney as is mentioned in Sub-Clause
(a) above shall do or purport to do in the exercise or purported exercise of all or any of the powers, authorities, and discretions
referred to in such sub-clause.
13. Cost and Expenses
The Customer must bear all costs and expenses including legal fees (on a solicitor and client basis), stamp duty, incidental fees, valuation
fees (if applicable) and other charges incurred in the:
(a) preparation of all Security Documents;
(b) perfection of the Bank’s security; and
(c) discharge of the security.
If the Customer fails for any reason to proceed with the Facility, the Customer must bear all costs and expenses incurred by the Bank and
any solicitors instructed by the Bank. The Customer will be liable to pay all fees, costs and expenses incurred by the Bank ( including the Bank’s legal fees on a solicitor and client basis) in the enforcement and preservation of the Bank’s rights under the Security Do cuments,
including in the recovery of any monies owed to the Bank.
14. Late Payment Charges (LPC)
(a) It is expressly agreed by the parties that the Bank shall have the right to be compensated on late payment of any of the instalments
referred in the Letter of Notification and/or default payment based on the following mechanism:
(i) Overdue Instalment or Scheduled Payment
For failure to pay any instalment or any payment due from the date of the first disbursement of the Facility until its expiry or
maturity ate, the Customer shall pay to the Bank LPC at the rate of one per cent (1%) per annum of the overdue instalments/pa yment
or by any other method approved by BNM;
(b) Notwithstanding the amount of LPC charged, it is expressly acknowledged and agreed that the said amount of LPC shall not be further compounded.
(c) The LPC shall be applied to the judgment sum and shall be payable from the date of t he judgment is made until the date of actual
payment.
15. Default Clause
Unless we notify you otherwise, in the event of default (i.e. non-payment) of three (3) monthly instalments, we shall be entitled to
convert the Prescribed Rate in the Letter of Notification to BR + 6.15% p.a., whichever is higher, to be charged on the amount
outstanding by giving notice to you. The rate of interest for the Facility will revert to the Prescribed Rate after you have settled in full
all overdue payments under the Facility.
16. Variation
(a) Variation of Rate
Notwithstanding the provisions relating to rate as herein provided, the Bank shall be entitled to, with prior notice in writi ng, vary
the manner, method, basis and/or mode of determining such rate, at any time and from time to time to vary at its absolute discretion,
of determining such rate, including without limitation:
17 |RF/Conventional/ENG_300921
(i) from a floating rate to a fixed rate and vice versa;
(ii) the Base Rate of the Bank where applicable;
(iii) the margin charged over and above t he applicable Effective Rate used;
(iv) the percentage of rate itself in cases where the rate is not calculated on any specified rate;
(v) the rate applicable where the rate is not calculated on the Bank’s Base Rate e.g. for foreign currencies;
(vi) the interest rate applicable where the rate of interest is not calculated on the Bank’s base lending rate/base rate e.g. for foreign currencies;
(vii) other discounts, banking charges, fees and other levies.
(b) Effective Date of Variation
Where variation in the manner aforesaid occurs, the amended or new interest rate, or charges shall be payable from the date such
amended or new interest rate is imposed or takes effect.
(c) Notification of Variation of Rate
The Bank will give at least twenty-one (21) days’ prior notice of change of t he interest rate to the Customer. The Customer hereby
agrees that the Bank shall be entitled to adopt any one or more of the following manners or methods of communication concerning
the variation of interest rate:
(i) by way of a single publication in one or more local newspapers of the Bank’s choice of such variation and its effective date of variation; and/or
(ii) by posting an insertion in the Bank’s statement of account of such variation and its effective date of variation; and/or
(iii) by posting a notice of such variation and its effective date of variation to the Customer by way of an ordinary or registered
post.
(d) Variation of Instalments
Notwithstanding anything contained in the Application Form and Letter Notification, we shall be entitled to vary with prior written
notice: -
(i) the number of instalments; or
(ii) the amount of instalments,
in the event of any variation of interest and/or other banking charges applicable to the Term Loan Facility as provided herein or upon
any other variation in and to the Term Loan Facility or pursuant to any modification and indulgence granted by us in accordance
with the terms of this agreement or otherwise.
17. Prepayment
The Customer may prepay the Facility in whole or in part, provided that:
(a) The Customer gives the Bank at least one (1) month’s prior written notice; and
(b) prepayment shall be made in the inverse order of maturity.
Failing which and as approved by the Bank, actual cost incurred by the Bank shall be imposed. For avoidance of doubt, any pre payment
shall not be subjected to break funding cost or other premium or compensation.
18. Rights of Bank to Indebtedness
The term “Indebtedness” means all indebtedness and/or other moneys due and payable by the Customer and/or Guarantor under the Facility
and shall continue to be due and payable, notwithstanding any termination of the relationship of banker and customer or any judgment or
order obtained by the Customer until full payment is received by the Bank.
19. Review
Notwithstanding anything herein stated, the Bank may rev iew the Facility at any time including any time before the utilization of the
Facility.
The Bank shall allow utilization or disbursement of the Facility or any portion subject only to the Bank being satisfied that the review
exercise indicates there are no financial, market or business or environmental factors, material or otherwise that may affect the Customer
financially.
The Bank reserves the right upon review (with seven (7) days prior notification to the Customer) to cancel, suspend, restructure, v ary or amend the Facility and the operating account(s) for the Facility or any terms and conditions herein prior to any utilization or disbursement
of the Facility or any portion thereof.
18 |RF/Conventional/ENG_300921
20. Right to Withdraw /Suspend/ Cancel Facility Prior to / After Com pletion of Documentation
Regardless of any other provision in these terms and conditions relating to the availability of the Facility, the Bank has th e right to recall,
cancel or suspend the Facility (including the operating account(s) for the Facility) or any part of it by giving the Customer at least 21 days’
notice, at any time the Bank deems fit and without needing to give any reason for such action. If the Bank does so, the Facil ity (or the
relevant part of it) and the operating account(s) will be recalled, cancelled or suspended accordingly. The whole indebtedness (or relevant part of it) will be repayable upon demand, until such time as the Bank deem fit to lift the suspension.
21. Representations and Warranties
21.1. The Bank’s acceptance of the Customer’s Application will constitute the Customer’s acknowledgement that the Bank has made
available the Facility to the Customer in full reliance on the Customer’s representations and warranties as follows: -
i. if the Customer is a company, the Customer is duly incorporated under the laws of Malaysia with full power and authority to
own its assets and carry on its business as it is now being carried on;
ii. the Customer has the power to accept the Facility on the terms and conditions in the Security Documents, and to pe rform its
obligations under the Facility Documents;
iii. the Customer’s acceptance of this Application and execution, delivery and performance of the Security Documents have been
validly authorised by appropriate corporate action (if the Customer is a company), and the Facility Documents constitute the
Customer’s legal, valid and binding obligations in accordance with the terms of such documents;
iv. the Customer’s acceptance of the Facility will not exceed its powers or violate the provisions of:
(1) any law, regulation, order or decree of any governmental authority, or agency to which the Customer is subject; or
(2) the Customer’s constitution or by-laws (where applicable); or
(3) any mortgage, contract, undertaking or other instrument which is binding upon the Customer or an y of its assets; and
(4) any limitation on borrowing imposed on the Customer;
v. the Customer has obtained, made or taken all authorisations, approvals, consents, licences, exemptions, registrations, recordings,
filings, notarisations, payments (of any duty or t ax) and all other actions necessary or desirable to ensure the validity,
enforceability or priority of its liabilit ies, obligations and the Bank’s rights under the Security Documents, and all such
authorisations, approvals, consents, licences, exemptions, registrations, recordings, filings, notarisations, payments and other
actions remain valid and where applicable, in full force and effect;
vi. the Customer is not in default under any agreement to which it is a party or by which the Customer may be bound, and no
lit igation, arbitration, administrative proceedings or claims are presently in progress, pending or threatened against the Customer
or any of your assets, which might by itself or together with any other such proceedings or claims either:
(1) have a material adverse effect on the Customer’s business, assets or condition; or
(2) materially and adversely affect the Customer’s ability to observe or perform its obligations under the Security Documents
to which the Customer is a party.
vii. there has been no material adverse change in the Customer’s financial condition or operations since the date of the Customer’s
application for the Facility
viii. the information that the Customer has provided in connection with the Facility does not contain any untrue statement, or omit to
state any fact, where such omission makes any statements made in connection with the Facility misleading, in the light of the
circumstances under which they were made, and all expressions of expectation, intention, belief and opinion made by the
Customer in connection with the Facility were honestly made on reasonable grounds (after due and careful inquiry by the
Customer);
ix. all financial statements, information and other data provided by the Customer to the Bank are complete and correct, have been
prepared in accordance with generally accepted accounting principles and practices consistently applied and accurately and fairly
represent the financial condition and results of the Customer’s operations as of the date or dates to which they were made up .
Since such date or dates, there has been no change in the Customer’s financial condition or results of operations that may impair
the Customer’s ability to pay the sums payable under the Facility Documents, in accordance with their terms;
x. the Customer has filed all tax returns that the Customer is required by applicable laws to file, and have paid all taxes, assessment
fees and other governmental charges assessed against the Customer or upon any of its properties, assets, income or franchises ;
19 |RF/Conventional/ENG_300921
xi. the Customer is the legal and beneficial owner and the Customer has full t it le to all its assets, including all assets over which the
Customer has agreed to grant security in the Bank’s favour;
xii. save as disclosed in writing to the Bank prior to the date of the Application, non e of the Customer’s assets is affected by any
security interest, and the Customer is not a party to, nor is the Customer or any of its assets bound, by any order, agreemen t or
instrument under which the Customer is (or in certain events may be) required to create, assume or permit to exist any security
interest, other than the security interests created pursuant to the Security Documents;
xiii. the Customer is not in contravention of, nor will the grant of the Facility to the Customer cause the Bank to be in cont ravention
of, Bank Negara Malaysia’s guidelines on Credit Transactions and Exposures with Connected Parties and/or of any replacement
guidelines/specifications/circulars issued pursuant to the Financial Services Act 2013. The Customer undertakes to advise the
Bank of any actual or potential infringement.
21.2. The representations and warranties contained in this Application will survive:
i. the acceptance of this Application;
ii. the execution of the Facility Documents; and
iii. any utilisation of the Facility (or any part of it) and will be deemed to be repeated for as long as any amount remains payable
under the Security Documents as if repeated by reference to the circumstances then existing, except that each reference to the
financial accounts in item (ix) will be const rued as a reference to the latest available annual accounts at that t ime.
22. Covenants
22.1. Affirmative Covenants
By the Customer’s acceptance of the Facility, the Customer undertake that so long as the Facility (or any part of it) remains available
for utilisation, or any sum remains payable from time to time under the Security Documents , the Customer will:-
i. at all t imes operate the Customer’s account actively and satisfactorily and observe the approved limit of the Facility;
ii. deliver to the Bank from time to t ime and when requested, written updates of the progress of the Customer’s business, as well
as such information to such extent and in such form and with such details as the Bank may from time to time reasonably requir e;
iii. promptly obtain all necessary licences and approvals and comply with all regulations relating to the carrying on of the Customer’s
businesses and in accordance with sound financial and business standards and practices, and keep proper accounts in accordance
with generally accepted accounting standards in Malaysia;
iv. notify the Bank immediately of the occurrence of:
(i) any event set out in Clause 25 (Events of Default) below;
(ii) any material adverse change in the condition (financial or otherwise) of the Customer and/or the Guarantor; or
(iii) any other occurrence of which the Customer becomes aware, which might adversely affect the ability of the Customer
and/or the Guarantor to perform its obligations under any of the Security Documents;
v. notify the Bank if any of the Customer’s authorised signatories are no longer authorised to sign or act on its behalf in relation to
the Facility or the Facility Documents;
vi. ensure that the Customer’s liabilit ies under the Security Documents to which the Customer is a party rank and will rank at le ast
equally and rateably (pari passu) in point of priority and security with all the Customer’s other liabilit ies (both actual and
contingent) except:-
(a) liabilit ies which are subject to liens or rights of set off arising in the normal course of trading (and the aggregate
amount of which is not material);
(b) liabilit ies which are preferred solely by law and not by reason of any security interest; and
(c) any security interest which has been disclosed to the Bank prior to the date of this Application.
vii. the Customer will comply in all respects with all laws and regulations (including but not limited to applicable anti-money
laundering, counter terrorism, environmental, economic or trade sanctions or laws) .
20 |RF/Conventional/ENG_300921
22.2. Negative Covenants
The Customer further undertake, by the Customer’s acceptance of this Application, that as long as the Facility (or any part of it)
remains available for utilisation, or any sum remains payable from time to time under the Security Documents, the Customer will
not, without the Bank’s prior written consent:-
i. incur, assume, guarantee (or permit to exist or guarantee) any indebtedness, except for the indebtedness under the Security
Documents, and any indebtedness which has been disclosed to the Bank prior to the date of this Application;
ii. save as disclosed in writing to the Bank prior to the date of the Application, create or permit to exist any lien on any of the
Customer’s assets (except any tax or other statutory lien provided that such lien is discharged within thirty (30) days after final
adjudication). In this regard, "lien" includes any assignment, mortgage, pledge, charge, privilege, encumbrance and/or priority
of any kind, and "assets" includes any right, interest, receivable, revenue, and/or movable or immovable property of any kind
(present or future);
iii. enter into any transaction with any person (including any corporate or unincorporated body),except in the ordinary course of
business, on ordinary commercial terms and on the basis of arm's length arrangements, or establish any exclusive purchasing o r
sales agency, or enter into any transaction in which the Customer may pay more than the ordinary commercial price for any
purchase or the Customer may receive less than the full ex-work commercial price for its products (subject to normal trade
discounts);
iv. enter into any partnership, profit -sharing or royalty agreement or other similar arrangement by which the Customer’s income or
profits are or might be shared with any other person (including any corporate or unincorporated body), or enter into any
management contract or similar arrangement by which the Customer’s business or operations are managed by any other person
(including any corporate or unincorporated body);
v. do any of the following:
(i) make or permit any subsidiary to make any loans advances to the Customer’s holding company or any related corporation
or to any other person, including a director of any subsidiary or holding or any related corporation;
(ii) make investments in any other corporations or enterprises; or
(iii) guarantee any person (including a director of any subsidiary or holding or related corporation or enterprise).
The above restrictions do not apply to normal trade credit or trade guarantees or temporary loans to staff, customers, contra ctors
or suppliers in the ordinary course of business, or investments in short -term marketable securities acquired solely using funds
which are not immediately required for the Customer’s business;
vi. add to, delete, vary or amend the Customer’s constitutional documents in any manner which would be inconsistent with: -
(i) the provisions of this Application;
(ii) any other Security Document; or
(iii) the nature of the Customer’s business as currently being conducted;
vii. sell, transfer, lease or otherwise dispose of all or a substantial part of the Customer’s assets or investments (except in th e normal
course of business), or undertake or permit any merger, consolidation or reorganisation if doing so would or might materially
and adversely affect the Customer’s financial condition;
viii. allow any change in your existing shareholders or their respective shareholdin gs, and/or in your board of directors;
ix. change the nature of your present business or sell, transfer or otherwise dispose of, or cease to exercise control over, the whole
or a substantial part of your business (whether by a single transaction or a number of transactions);
x. declare or pay any dividends (including declared but currently unpaid dividends) to ten Customer’s shareholders;
xi. make any prepayment or repayment of any advances made to the Customer by its shareholders, directors or related corporations,
or of any other loans or indebtedness;
xii. decrease or in any way alter (other than by way of an increase) the Customer’s authorised or issued capital; or
xiii. utilize any proceeds of the Facility for any purpose other than that stated in the Customer’s application for the Facility.
21 |RF/Conventional/ENG_300921
23. Debit to Account
Any monies due and payable to the Bank, or advanced by the Bank on your behalf, may be debited to any account as the Bank dee ms fit
with interest accruing accordingly. If such moneys are debited to the Customer’s current account, they may be treated as an advance on an
overdraft facility.
24. Certificate of Indebtedness
In any legal action or proceedings relating to the Facility, a certificate of the Bank as to any amount due to it under the Facility will, in the
absence of manifest error, be conclusive evidence that such amount is due and payable.
25. Events of Default
Each of the following is an event of default in relation to the Facility:-
(a) the Customer and/or Guarantor (i) defaults or fails to pay any amount due in respect of the Facility, or (ii) fails to pay when any
monies owing under any other agreement or arrangement with the Bank;
(b) the Customer and/or the Guarantor dies, become insane or is adjudicated a bankrupt or is wound up or any step is taken for the
Customer and/or the Guarantor to be wound up, liquidated or dissolved;
(c) the Customer and/or the Guarantor breaches any of the terms and conditions of any of the legal documents relating to the Facility,
and such breach is, in the Bank’s opinion, not capable of being remedied, or if capable of being remedied has not been remedied
within the timeframe stipulated in these terms and conditions, or by the Bank;
(d) a distress or execution is levied or enforced upon any of the property or assets of any the Customer and/or the Guarantor and it is
not satisfied or discharged within seven (7) days from the date of commencement of such distress or execution;
(e) legal proceedings, suit or action of any kind are instituted against the Customer and/or the Guarantor;
(f) the Customer and/or the Guarantor:
(i) is unable to pay any debt when due, or suspends payment of any such debt;
(ii) proposes to enter or enters into any arrangement or composition (voluntary or otherwise) with its creditors;
(iii) commits an act of bankruptcy;
(iv) enters into insolvency proceedings; or
(v) applies for or is made subject to a moratorium on the payment of indebtedness or other suspension of payments generally;
or
(vi) has a manager, trustee, nominee, supervisor, judicial manager, custodian, liquidator (provisional or oth erwise), receiver
and/or manager or similar person appointed over all or part of its business or assets (or a resolution is passed or an application
is made for such appointment);
(g) any event occurs or circumstances arise (including changes in financial condit ion) which in the Bank’s opinion would materially
affect the ability of the Customer and/or the Guarantor to perform or comply with its obligations to the Bank under the Security
Documents, or the carrying on of the Customer and/or the Guarantor’s business affairs in accordance with sound financial,
industrial or commercial standards and practices;
(h) the Bank is of the opinion that the security in the Bank’s favour is in jeopardy, including but not limited to circumstances in which
the assets which are subject to such security are or may be frozen or seized by any governmental or regulatory authorities;
(i) the Customer has been listed as a bad cheque offender in the Dishonoured Cheques Information System set up by BNM;
(j) if the Facility is made available in connection with or is secured against any real property, such real property is used for any illegal
or unlawful purposes or is attached, seized or becomes subject to any legal proceedings;
(k) any representation or warranty made or deemed to be made or repeated by the Customer is or proves to have been incorrect or
misleading in any material respect;
(l) the Bank is of the opinion that he Customer has acted unlawfully or fraudulently in relation to the Facility, or the Customer and/or
the Guarantor is being investigated or prosecuted for or is or has been convicted of any criminal or quasi-criminal offence;
22 |RF/Conventional/ENG_300921
(m) the Bank’s entering into any agreement with the Customer or the Bank’s performance of any such agreement has caused, or may
(in the Bank’s opinion) cause, the Bank t o be in breach of any applicable law or regulation;
(n) the Bank is required to cancel or suspend the Facility in order to comply with any law or regulation;
(o) when any indebtedness of the Customer and/or the Guarantor becomes due before its stated maturity, any guarantee given by the
Customer and/or the Guarantor is not discharged at maturity or any such guarantee is not discharged when called upon;
(p) the Customer and/or the Guarantor fails to satisfy any judgment made against it by any court of competent jurisdiction and no
appeal against such judgment has been made to any appropriate appellate Court within the time prescribed by law (or if made, has
been dismissed), including in the case of any judgment obtained in default of appearance, where no application has been made to
set aside such judgment within thirty (30) days of the date the Customer and/or the Guarantor became aware of such judgment;
(q) any provision of this Application or any other Security Document is or becomes invalid or unenforceable for any reason;
(r) such other events of default as may be provided in the Security Documents.
Upon the occurrence of any of the above events of default, the Bank may cancel the Facility or any part of it , in which event all sums
owing to the Bank under or in connection with the Facility (or the relevant part of it), including but not limited to accrued interest and
costs, will be repayable on demand.
26. Cross Default
The Customer expressly agrees that if any sums is due from the Customer to the Bank or any third party or parties under any agreement or instrument from time to time or at any time or if the Customer may be or becomes liable to the Bank or any third party or parties on the
banking account or any other account current or otherwise or if default is made in any p rovisions of such account or in any other banking
facilit ies granted by the Bank or any third party or parties to the Customer and/or Customer or in any of the provisions here in, then, upon
notification by the Bank to the Customer within seven (7) Business Days, the money secured together with all moneys payable under
suchaccount or other banking facilit ies aforesaid will immediately become due and payable and the security will become immediately
enforceable.
27. Indemnity
The Customer shall fully indemnify the Bank against any loss or expenses (including legal fees on a solicitors and client basis) which the
Bank may incur as a consequence of any default on the Customer part in due performance of any of the obligations under the Security
Documents.
28. Avoidance of Payment and Release of Security
No assurance, security or payment which may be avoided under any law relating to winding-up or insolvency and no release, settlement
or discharged given or made by the Bank on the faith of any such assurance, security or payment, shall prejudice or affect its rights to
enforce the security created in respect of the full extent of the moneys secured. Any such release, settlement or discharge shall be deemed
to be made subject to the condition that it will be void, if any payment or security which the Bank may previously have received or may
thereafter receive from any person in respect of the Indebtedness, is set aside under any applicable law or proves to have be en for any
reason invalid.
29. Set O ff
The Bank may combine, consolidate or merge all or any of the Customer’s accounts with, and liabilit ies owing to the Bank upon giving
seven (7) days’ prior notice to the Customer to set off or transfer any sum outstanding to the credit of any such accounts in or towards the
satisfaction of any of the Customer’s liabilit ies owed to the Bank (whether under the Facility or otherwise) and/or to other companies
related to the Bank.
This applies whether such obligations are present or future, actual or contingent, primary or collateral, and several or joint. The Bank may
do the above even though the balances on such accounts and the liabilit ies may not be expressed in the same currency. The Cus tomer
irrevocably authorise the Bank to effect any necessary conversions at the Bank ’s own rate of exchange that is prevailing at that t ime. The
Bank may also exercise a lien over the accounts the Customer holds with the Bank, in order to secure any obligations and liabilit ies the
Customer owes to the Bank and/or any other companies relat ed to the Bank.
The Bank may simultaneously set aside the available funds in the Customer’s accounts against the outstanding balance in the loan accounts.
30. Taxes and Withholdings
30.1. Taxes
(i) The Customer must bear all taxes or levies now or in future imposed by law or required to be paid, in respect of any monies
payable to or to be received by the Bank on any expenses incurred by the Bank (except where prohibited by law).
23 |RF/Conventional/ENG_300921
(ii) The Customer must bear all other taxes, duties or government charges now or in future imposed or levied in connection with
this Facility.
(iii) The Customer agrees that the Bank has the right to debit the Customer’s banking account(s) for such taxes or levies payable
by the Customer. If this causes the Customer’s banking account(s) to be overdrawn, the Customer will be charged interest
accordingly at the Bank’s prevailing rate(s).
30.2. Withholding
The Customer must make all payments under the Security Documents, in full without any deduction or withholding (whether in
respect of set off, counterclaim, duties, taxes, charges or otherwise) unless the deduction or withholding is required by law, in which
event the Customer must:-
(i) ensure that the deduction or withholding does not exceed the minimum amount legally required;
(ii) immediately pay to the Bank an additional amount so that the net amount that the Bank receives will equal the full amount
which the Bank would have received if the Customer had not made any such deduction or withholding;
(iii) pay to the relevant taxation or other authorities within the period for payment permitted by applicable law the full amount of
the deduction or withholding (including the full amount of any deduction or withholding from any additional amount paid
pursuant to this clause); and
(iv) furnish to the Bank, within the period for payment permitted by applicable law, either:-
i. an official receipt of the relevant taxation authorities in respect of all amounts so deducted or withheld; or
ii. if such receipts are not issued by the relevant taxation authorities, a certificate of deduction or equivalent evidence of
the relevant deduction or withholding (to check with business/product).
31. Increased Costs/Capital Adequacy
Where the Bank determines that the introduction or change in any law (or any change in the interpretation or application of a ny law),
regulation, directive or request from any governmental or regulatory authority (whether or not having the force of law) imposes or modifies
any capital adequacy or similar requirement (including, without limitation, a requirement, which affects the Bank’s allocation of capital
resources to its obligations) and, as a result, increases the cost to the Bank of making or maintaining or of funding any amo unt paid out or
contingently to be paid out under the Facility or obliges the Bank to make any paymen t or calculated by reference the amount of any sum
received or receivable by the Bank, then:-
(a) the Bank shall notify the Customer of such event upon its becoming aware of the same;
(b) the Bank shall be entitled to vary the Effective Interest Rate on the Facility;
(c) the Customer shall promptly pay to the Bank on demand such amount as the Bank from time to time and at any time certify to be
necessary to compensate the Bank for such additional cost or liability; and
(d) at any time thereafter, so long as the circumstances giving rise to the obligation to make the compensating payment continue:-
(i) at the Customer’s election by notice to the Bank, the Bank’s obligation to fund any further utilisation shall terminate and t he
Facility shall be cancelled to such extent ; and
(ii) the Customer may (on giving not less than 30 days’ notice) (which shall be irrevocable), prepay the Facility together with
accrued profit thereon to the date of prepayment and other indebtedness and upon receipt by the Bank of notice of such election,
the Facility shall be cancelled.
32. Illegality
Where the Bank determines that the introduction, imposition or variation of any law, order, rule, regulation or official dire ctive (whether
or not having the force of law) or any change in the interpretation or application thereof or any compliance therewith makes it apparent to
the Bank that it will be unlawful or impractical without breaching any such law, order, regulation or official directive (whe ther or not
having the force of law) for the Bank to maintain, fund or give effect to its obligations herein:-
(a) the Bank’s obligations to fund any further utilisation shall terminate and the Facility shall be cancelled to such extent; an d
(b) if any utilisation has been made, the Bank shall prepay the Facility without premium or penalty to the Bank as the Bank shall direct
and certify to be necessary to comply with the relevant law.
33. Guarantee
If the Facility is to be guaranteed by more than one person, the fact that one or more of the guarantors named in this Application may not
have executed a guarantee in form and substance acceptable to the Bank, does not affect the validity or enforceability of any guarantee
executed by any other guarantor.
24 |RF/Conventional/ENG_300921
34. Notices
Any notice or communication may be in writing. T he Bank may deliver such notice or communication personally, by post or facsimile to
the Customer at the Customer’s last known address in the Banks records, by electronic transmission (including SWIFT, Short Me ssaging
Service or e-mail), on or through the Bank’s website or by such other means as the Bank may designate from time to time. Any notice or
communication to the Customer will be deemed to be received:-
(a) if personally delivered: at the time of delivery; or
(b) if posted: on the third (3rd business day after posting (within Malaysia) and on the seventh (7th) business day after posting (outside
Malaysia); or
(c) in the case of a facsimile transmission, on the business day immediately after transmission provided that the Bank has receiv ed an
answer back confirmation; or
(d) in the case of an electronic transmission: at the time sent to the Customer, unless the Bank receives an automated message th at the
electronic transmission has not been delivered.
No change in the Customer’s address stated in the Application will be effective or binding on the Bank unless the Customer has given the
Bank actual notice of the change of address, in writing.
35. Service of Legal Process
The service of any legal process may be effected by prepaid, registered or ordinary post sent to the Customer at the Customer’s last known
address in the Bank’s records (which as at the date of the Application, is the address stated in the Application). Such legal process will be
deemed to have been duly served after the expiry of five (5) days from the date it is posted.
36. Severability
Any term, condition, stipulation, provision, covenant or undertaking contained herein which is illegal, prohibited or unenfor ceable in any
jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such illegality, prohibition or unenforceability without invalidating
the remaining provisions hereof and any such illegality, prohibition or unenforceability in any jurisdiction shall not invali date or render
illegal, void or unenforceable any such term, condition, stipulation, provision, covenant or undertaking in any other jurisdiction.
37. Waiver
Our rights under this Application are cumulative. The Bank may exercise them as often as the Bank deems appropriate and these rights
are in addition to the Bank’s rights under any applicable law. The Bank’s rights in relation to the Facility (whether arising under the
Security Documents or under any applicable law) cannot be waived or varied otherwise than by an express waiver or variation i n writing.
If the Bank fails to exercise or delay in exercising any of such rights, this will not operate as a waiver or variation of that or a ny other such
right. Any defective or partial exercise of any of such rights will not preclude any other or further exercise of suc h rights; and no act or
course of conduct or negotiation (on the Bank’s part or on the Customer’s behalf) will in any way preclude the Bank from exer cising any
such right. Such acts will also not constitute a suspension or variation of any such right.
38. DCHEQ S
In accordance with the prevailing DCHEQS guidelines, the Bank reserves the right with prior notice to close your current account(s)
whether held solely or jointly with others.
39. Time
T ime shall be the essence of these terms and conditions.
40. PRTA (if applicable)
(a) The Customer must take up a Personal Reducing Term Assurance (“ PRTA”) policy with an insurance company approved by the
Bank.
(b) The Customer must take up the PRTA coverage prior to the release of the Facility. Unless the Bank otherwise agr ees in the Security
Documents, the PRTA single premium (i.e. a premium that is paid in one lump sum rather than regularly in instalments) will be
incorporated into the Facility amount to be drawn by the Customer. If the PRTA single premium is not incorpora ted into the Facility
amount, the Customer must pay the PRTA single premium using its own funds.
(c) In the event the PRTA is deemed substandard (meaning that the Customer is not eligible for standard premium rates), the Bank’s
approved insurance company may then charge additional premium or health loading premium. Under such circumstances, the
Customer will have to pay the additional premium charged out of its own funds.
25 |RF/Conventional/ENG_300921
(d) If, at the Customer’s request, the Bank waives the requirement for full PRTA coverage (because the Customer is unable to satisfy
the requirements imposed by the Bank’s approved insurance company or for any other reason), this will mean that the Facility will
not be covered or adequately covered by a PRTA. By accepting this Application, the Customer confirms that the Customer fully
understands consequence of not having full PRTA coverage, and acknowledge and agree that in such instance, the Customer will
remain fully liable for all amounts owing under the Facility.The Bank will not be responsible in any way for such insufficient PRTA
coverage to cover the Facility amount.
41. Anti-Money Laundering and Anti-Terrorism Financing Act 2001
The Customer represents and warrants that, save as otherwise made known to the Bank in writing, the Customer is the principal in relation
to the Facility and the funds drawn under it from time to time. The Customer also represents that all monies to be paid to an d from the
Customer’s account(s) will be from lawful sources of activity and not unlawful sources or activit ies as described in the AMLATFAPUAA.
The Customer covenants and undertakes that it will not pay into the Customer’s account(s), or utilise any monies from the acc ount(s) for
money laundering purposes or any purpose which may violate any laws, regulations o r directives relating to money laundering or terrorist
financing (as defined under the AMLATFAPUAA or any other applicable laws or regulations.
During the tenure of the Facility, the Customer undertakes that it will not:-
i. engage (directly or indirectly) in a transaction that involves proceeds of any unlawful activity;
ii. acquire, receive, possess, disguise, transfer, convert, exchange, carry, dispose, use, remove from or bring into Malaysia pro ceeds of
any unlawful activity; or
conceal, disguise or impede the establishment of the true nature, origin, location, movement, disposition, tit le of, rights with respect to, or
ownership of, proceeds of any unlawful activity.
42. Disclosure of Information
By accepting this Application, the Customer gives their consent to the Bank to disclose information and/or documents supplied in
connection or pertaining to the Facility, the Customer’s business and its affairs and accounts (including future accounts):
i. to the Bank’s subsidiaries (Commercial Banking, Securities and Investment banking, Insurance and Asset Management);
ii. to any company which is (presently or in the future) the Bank’s related company;
iii. to any of the Bank’s agents, auditors, legal counsels, professional advisors or representatives;
iv. to the Central Credit Unit established by Bank Negara Malaysia or any other regulatory authorities having jurisdiction over the Bank;
v. to any co-debtor, joint account holder, guarantor, chargor or surety, security party, or party making a claim under any third party
payment instrument or trade document;
vi. to any other person who has undertaken liability to the Bank for the Facility;
vii. pursuant to any law or legal process or in connection with any action, suit or proceeding relating to the Facility;
viii. to any bank or financial institution in relation to the provision of financing in connection with the Bank’s or the Bank's related
companies’ products or services; and
ix. to any person to whom disclosure is permitted or required by law, regulation or any governmental agency.
43. Central Credit Unit
Bank Negara Malaysia has established the Central Credit Unit (“ Unit”) to collect information from banks regarding the credit facilit ies
which they grant to their customers. It is a term of the Facility offered in this Application to the Customer that infor mation regarding the
Facility will be given to the Unit for the use of the Unit and participating banks. This information is kept strictly confide ntial between the
Unit and all participating banks.
44. Strategic Trade Act 2010
The Customer covenants and undertakes that the Facility will not be utilised for transactions involving goods, items and services identified
and/or classified as strategic items for the purposes of the Strategic Trade Act 2010. This includes the importation, exporta tion,
transhipment, brokering, marketing, distribution and all other transactions not specifically stated in the Security Documents involving
such strategic items and/or in any way contravening the Strategic Trade Act 2010.
26 |RF/Conventional/ENG_300921
The Customer will absolve the Bank from any liability arising from such transactions and will further indemnify and keep the Bank
indemnified against any fines, penalties and penal sanctions that might be imposed on the Bank as a result of any act on the Customer’s
part that constitutes a contravention, or causes the Bank to contravene, the Strategic Trade Act 2010 .
45. Personal Data Protection Act 2010
The Bank may request the Customer from time to time to provide the personal data and information of the Customer, his/her gua rantor’s
and/or any third party security providers’ (including but not limited to) directors, shareholders, employees, representatives and/or any
other individual (“ the Individual”) in the course of the Customer’s contract and/or transactions with the Bank (“Personal Dat a”).
Maybank Group Privacy Notice which is posted in the Bank’s website www.maybank2u.com.my outlines how the Maybank Group
collects, uses, maintains, stores, discloses, secures and retains the Personal Data. The Customer is to refer to the Maybank Group Privacy Notice and prior to providing the Bank with the Individual’s Personal Data, he/she is to inform the Individual of the Maybank Group
Privacy Notice.
The Customer hereby warrants that he/she has complied with the PDPA and have obtained the relevan t consents from the Individual in
relation to the processing and disclosure of their Personal Data.
46. Declaration For Purposes Of Compliance With The Foreign Account Tax Compliance Act (“Fatca”) And The Common Reporting
Standards Required By The O rganisation For Economic Co-Operation And Development (“Crs”)
By accepting this Application, the Customer hereby consent to the Bank to undertake any of the following:-
46.1. reporting your information to the relevant regulatory authorities in accordance with the requirements of FATCA and/or CRS as may
be stipulated by laws, regulations, agreements or regulatory guidelines or directives;
46.2. withholding from your account(s) such amounts, in accordance with the requirements of FATCA and/or CRS as may be stipulated
by applicable laws, regulations, agreement, or regulatory guidelines or directives;
46.3. classifying you as a reportable account holder in accordance with the requirements of FATCA and or CRS, applicable laws,
regulations, agreement, or regulatory guidelines or directives;
46.4. closing the Banking Accounts, in the event that you fail to provide accurate and/or complete information and/or documentation as
we may require; and/or
46.5. suspending, recalling or terminating the account(s) granted to you, in the event that you fai l to provide accurate and/or complete
information and/or documentation as we may require.
In addition to the above, you agree to provide us with written notice within thirty (30) days, if there is any change in info rmation provided
to us.
47. Reconstruction O f Bank The Customer Or The Guarantor
The security, liabilit ies and/or obligations created by this Agreement will continue to be valid and binding for all purposes,
notwithstanding any change by amalgamation, reconstruction or otherwise which may be made in our constitution. Similarly, the security,
liabilit ies and or obligations created by this Agreement continue to be valid and binding for all purposes notwithstanding any change by
amalgamation, reconstruction or otherwise in the constitution of any Guarantor. It is expressly declared that no change of any sort in
relation to or affecting any Guarantor) will in any way affect the security, liabilit ies and or obligations created under the Facility
Documents.
48. Capitalisation Of Interest
We may at our discretion capitalise the interest on any principal moneys for the time being secured, including capitalised in terest, and
add the same to the principal sum then owing, at the end of each calendar month. From that point onwards, the capitalized interest will
bear interest at the rate set out in the Letter of Notification or such other rate or rates as we may prescribe from time to time and be secured
and payable accordingly. All the covenants and conditions contained in or implied by this Agreement , all powers and remedies conferred
by law or this Agreement and all rules of law or equity regarding the said principal sum and interest will equally apply to such capitalised
arrears of interest and to interest on such arrears.
49. Sanctions
“Sanctions” means any sanctions order administered or enforced by:
(a) the United States of America;
(b) the U.S. Department of Treasury’s Office of Foreign Asset s Control (“O FAC”);
27 |RF/Conventional/ENG_300921
(c) the United Nations Security Council;
(d) the European Union; or
(e) other relevant sanctions regulatory authorities against any individuals or entities which are located, organized or resident in a country
or territory.
i. Neither you nor any of your subsidiaries, nor any of your or their directors, officers or employees, nor, to your knowledge, any
of your agents, affiliates or representatives, is an individual or entity that is (or is owned or controlled by) an individua l or entity
that is currently subject to any Sanctions, nor located, organized or resident in a country or territory that is the subject of
Sanctions.
ii. Neither you nor any of your subsidiaries will, directly or indirectly, lend, contribute or otherwise make available its proce eds
to any subsidiary, joint venture partner or other individual or entity:
(1) to fund or facilitate any activities or business of or with any individual or entity or in any country or territory that, at the
time of such funding or facilitation, is the subject of Sanctions, or
(2) in any other manner that will result in a violation of Sanctions by any individual or entity (including or entity participating
in the offering, whether as underwriter, advisor, investor or otherwise).
iii. You acknowledge that the United States of America, OFAC, the United Nations Security Council, the European Union, or other
relevant sanctions regulatory authorities may impose from time to time, specific sanctions against certain countries, entitie s and
individuals which may result in us not being able to process affected transactions that involve or are suspected to be a breach
of sanctions or requirements imposed by such authorities or any relevant authority having jurisdiction over us or the affecte d
transactions. Such authorities may require the account(s) and all related transactions and/or placements under such accounts not
to be connected in any manner with any sanctioned countries, entities or individuals.
iv. You agree that if we are required to disclose any information relating to any tran saction or account, or if any payment or other
transaction in connection with any account is blocked, frozen, delayed, refused or cancelled because it is claimed or suspect ed
to be sanctioned-related or suspected to involve money laundering or terrorist financing, we will not be liable for any such
disclosure for any direct, indirect or consequential losses, liabilit ies, penalties, costs or expenses that may arise by reason of
that.
50. O ther Terms
(a) The Customer acknowledges that the selling of the ASB Certificate is subject to the processing procedure undertaken by Amanah
Saham Nasional Berhad (ASNB).Until the sale process is fully completed, the Customer shall be obliged to pay the Bank’s Sale
Price at the time and in the manner stipulated herein. The Customer will also be responsible and shall continue to be responsible for
all charges, profit , incidental costs associated and until all outstanding amounts due to the Bank are fully settled.
(b) The Bank shall be entitled to sell the ASB Certificate which are pledged to the Bank (including, but not limited to, ASB Certificate)
if the Bank finds that the Customer’s Facility account has not been updated or there has been any arrears of two (2) months o r more
notwithstanding any reminder(s) issued by the Bank to the Customer. The Bank will send a Notice of Sale to the Customer before
the selling of the certificates.
(c) Any payment of the instalments shall be by way of variable standing instruction through the Customer’s Savings / Current Acco unt which shall be opened and maintained by the Customer with the Bank.
(d) Sale Proceeds: All monies ( “Proceeds”) received by the Bank from any proceedings instituted or enforcement measures taken un der
the Facility and/or the relevant Security Documents, subject to statutory preferences (if any), shall be applied by the Bank to pay all
fees, costs, charges and expenses incurred by the Bank, to pay to the Bank all outstanding sums under the Bank’s Sale Price which
are due and remain unpaid and all other monies due and remaining unpaid under the Facility and/or the Security Documents. Any
remaining surplus shall be paid to the person entitled (the Certificate Holder). In the event that the sum of moneys owing an d payable
by the Customer to the Bank pursuant to the Facility, the Bank’s Sale Price and all fees, costs, charges and expenses exceed the
Proceeds, the Customer shall pay to the Bank such amount in excess.
(e) The Customer undertakes to notify the Bank immediately in the event of a change in the Customer’s status of residence and/ or
mailing address.
(f) That a PRTA for the Facility will be taken by the Bank on behalf of the Customer which will be operated by Etiqa or any takaf ul
operator approved by the Bank. The contribution fee for this will be borne by the Customer.
(g) The Customer undertakes to fill in 'Pengisytiharan Unit Bercagar' form to declare the total investment certificates owned and pledged
as not to exceed the amount determined by the ASNB which is only two hundred thousand units (200,000) for ASB/ASB 2 fund.
(h) The Bank reserves the right to reject any application that does not meet the requirements and will not be liable for any loss suffered
by any party due to investment units that are not secured or the failure to comply with the rules and regulations set by the ASNB.
(i) In the event of default, the Customer agrees that the Bank shall have the right to proceed to force -sell the ASB Certificate to settle
the outstanding balance in accordance with the terms and conditions.
28 |RF/Conventional/ENG_300921
(j) These terms and conditions shall be binding upon and enure to the benefit of each party and its successors and assigns. The Customer
may not assign or transfer all or any part of its rights, benefit and obligationswithout the prior written consent of the Ban k being
obtained first and this consent shall not be unreasonably withheld. The Bank may assign all or part of its rights or transfer all or part
of its obligations (if any) and the Customer shall be notified of the same.
