ABOUT US. 27 AmBank Group Corporate Profile 28 Our Milestones 32 Corporate Information 34 Group Corporate Structure 36 Strategic Business Entities

Transcription

1 ABOUT US 27 AmBank Group Corporate Profile 28 Our Milestones 32 Corporate Information 34 Group Corporate Structure 36 Strategic Business Entities

2

3 p. 26 p. 27 AMMB Holdings Berhad ( V) Annual Report 2017 ambankgroup.com

4 AMBANK GROUP CORPORATE PROFILE AmBank Group is a leading Malaysian financial services group with 42 years of rich expertise in supporting Malaysians in their economic development. It has over three million customers and employs 11,000 people. The Group was listed on the Main Market of Bursa Malaysia in It is the sixth largest banking group by assets in Malaysia, with a market capitalisation of around RM14 billion and assets of RM134.8 billion as at 31 March AmBank Group offers a wide range of both conventional and Islamic financial solutions and services, including wholesale banking, retail banking, investment banking, underwriting of general insurance, life assurance and takaful, stock and share broking, futures broking, investment advisory and management services in assets, real estate investment trust and unit trusts. The Group s Purpose is to help individuals and businesses in Malaysia grow and win together. Over 3 million customers Employs 11,000 people. Market capitalisation of RM14 billion Overview p. 1 - p. 7 Key Highlights p. 8 - p. 9 Key Messages p p. 21 About Us p p. 37 Leadership p. 38- p. 67 Strategic Review p p. 87 Performance Review p p. 113 Business Review p p. 135 Sustainability Statement p p. 175 Corporate Governance p p. 225 Highlights and Achievements p p. 237 Stakeholders Information p p. 266

5 OUR MILESTONES Set up as a joint venture between Malaysian and Arab interests Arab-Malaysian Merchant Bank Berhad is the first merchant bank to be listed on Bursa Malaysia Merger of AmBank & AmFinance Tan Sri Azman Hashim acquires of the Group Acquired MBf Finance p. 28 p. 29 AMMB Holdings Berhad ( V) Annual Report 2017 ambankgroup.com

6 Strategic partnership with ANZ Strategic partnership with MetLife Strategic partnership with IAG Acquired Kurnia Insurance & MBf Cards Overview p. 1 - p. 7 Key Highlights p. 8 - p. 9 Key Messages p p. 21 About Us p p. 37 Leadership p. 38- p. 67 Strategic Review p p. 87 Performance Review p p. 113 Business Review p p. 135 Sustainability Statement p p. 175 Corporate Governance p p. 225 Highlights and Achievements p p. 237 Stakeholders Information p p. 266

7 OUR MILESTONES 1975 Arab-Malaysian Development Bank Berhad was incorporated on 5 August 1975 as a joint venture between Malaysian Industrial Development Finance Berhad with a 55.0% shareholding, Arab Investments for Asia (Kuwait) with a 33.0% shareholding, and the National Commercial Bank (Saudi Arabia) holding 12.0% 1977 The Group acquired a 70.0% shareholding in Malaysian Industrial Finance Company Limited, which was later renamed Arab-Malaysian Finance Berhad (AMFB) 1980 AMFB became the first private sector institution in Malaysia to issue public bonds RM20.0 million 8.5% Guaranteed Bonds 1987, listed on the Kuala Lumpur Stock Exchange. The Bonds marked a new chapter in the history of private sector fund raising in the capital markets 1982 Tan Sri Azman Hashim acquired 100.0% shareholding in the Group The Group acquired the remaining 30.0% shareholding of AMFB, making it a wholly-owned finance company subsidiary 1983 The Group was renamed Arab-Malaysian Merchant Bank Berhad (AMMB) AMMB established a credit and leasing company, Arab-Malaysian Credit Berhad 1984 AMMB launched Malaysian Ventures Berhad to undertake private equity investments AMMB arranged the first leveraged lease facility in the country for Sistem Televisyen Malaysia Berhad (TV3) AMMB acquired Arab-Malaysian Insurance Berhad, a general insurance company formerly known as Teguh Insurance Company Sdn Bhd 1985 AMMB acquired Perima Assurance Berhad, a life insurance company 1986 AMMB acquired a stockbroking firm, Kris Securities Sdn Bhd, later renamed as AmSecurities Sdn Bhd AMMB relocated its corporate headquarters to Jalan Raja Chulan, Kuala Lumpur Antah Holdings Berhad and Tokai Bank Limited, Japan acquired 20.0% shareholding each in AMMB AMMB launched Arab-Malaysian Unit Trusts Berhad to manage unit trust funds 1987 AMMB s two insurance companies merged to form Arab-Malaysian Eagle Assurance Berhad, holding composite insurance licences AMMB sponsored the establishment of The Malaysia Fund Inc, a close-ended investment fund listed on the New York Stock Exchange, to invest in equities of Malaysian companies listed on the KLSE. The Malaysia Fund raised USD87.0 million 1988 AMMB became the first merchant bank to be listed on the Kuala Lumpur Stock Exchange AMMB was appointed as Adviser to the Government to formulate the National Privatisation Masterplan AMMB launched the first equity unit trust fund, Arab-Malaysian First Fund 1989 Arab-Malaysian Property Trust became the first property trust to be listed on the KLSE 1990 AMMB was appointed as Adviser and Managing Underwriter for the flotation of Telekom Malaysia Berhad AMFB acquired First Malaysia Finance Berhad 1991 AMMB acquired a 49.0% equity stake in the holding company of Fraser Securities, Singapore AMMB, in collaboration with Nikko Securities Co. Ltd. in Japan, sponsored the establishment of Malaysia Fund (Labuan), the first offshore unit trust fund in the Federal Territory of Labuan Pursuant to a corporate restructuring scheme, AMMB Holdings Berhad became the holding company of the Arab-Malaysian Banking Group and assumed the listing status of AMMB Arab-Malaysian Finance Berhad, the Group s finance company, was listed on the KLSE 1993 AMMB launched Tabung Ittikal Arab-Malaysian, the first Islamic Unit Trust Fund AMMB acted as Manager and Arranger for the RM240.0 million Syndicated Credit Facility for the construction of Menara Kuala Lumpur 1994 AMMB ventured into commercial banking with the acquisition of the Malaysian operations of Security Pacific Asian Bank Limited from Bank of America (Asia) Limited. It started commercial banking operations as Arab-Malaysian Bank Berhad 1995 AMMB International (L) Ltd commenced offshore banking operations in Labuan, the first merchant bank to offer offshore banking services AMMB Futures Sdn Bhd commenced futures broking business 1996 AMMB Holdings Berhad s annual report won the Overall Award for the Most Outstanding Annual Report for six consecutive years from 1991 to 1996 in the NACRA awards Macquarie Bank Limited, Australia acquired 30.0% shareholding in each of AMMB Futures Sdn Bhd, AMMB Asset Management Sdn Bhd and Arab- Malaysian Unit Trusts Berhad 1997 AMMB Securities (HK) Limited commenced stock broking operations in Hong Kong 1998 AMFB acquired the assets and liabilities of Abrar Finance Berhad, in line with the Government s plan to consolidate the industry 2001 AMFB acquired MBf Finance Berhad 2002 Merger of Arab-Malaysian Finance Berhad and MBf Finance Berhad, following the vesting of the assets and liabilities of AMFB into MBf Finance. The latter changed its name to AmFinance Berhad. AMFB was converted into AMFB Holdings Berhad Arab-Malaysian Banking Group rebranded to AmBank Group with new Group corporate colours of red, representing prosperity and good fortune and yellow representing commitment and unity p. 30 p. 31 AMMB Holdings Berhad ( V) Annual Report 2017 ambankgroup.com

8 2003 Bangunan AmFinance, now known as Menara AmBank on Jalan Yap Kwan Seng, Kuala Lumpur, was officially opened by the then Prime Minister, Tun Dr Mahathir Mohamad 2005 Completed privatisation of AMFB Holdings Berhad AmInvestment Group Berhad, the Group s investment banking operations, listed on Bursa Malaysia AmBank and AmFinance merged to create AmBank (M) Berhad, the sixth largest domestic bank in the country 2006 Am Private Equity, a private equity fund, was launched Insurance Australia Group Limited, Australia acquired 30.0% shareholding in AmAssurance Berhad Am ARA REIT Managers Sdn Bhd was incorporated with AIGB holding 70.0% equity and ARA Asset Management (Malaysia) Limited 30.0% to manage the AmFIRST REIT listing on Bursa Malaysia AmIslamic Bank commenced operations, with the vesting of the Islamic assets and liabilities of AmBank (M) Berhad into a separate subsidiary company 2007 AmBank Group completed the integration of AmSecurities Sdn Bhd into AmInvestment Bank, which began operating as a fully-fledged investment bank offering both merchant banking and stockbroking services AmBank Group marks the entry of Australia and New Zealand Banking Group Limited (ANZ) as its strategic partner and major investor 2008 Completed privatisation of AIGB, which became a wholly owned subsidiary of AMMB Established AmG Insurance Berhad to facilitate the separation of the composite insurance business of AmAssurance Berhad into general insurance and life insurance businesses Friends Provident PLC acquired a 30% stake in AmLife Insurance Berhad AmBank and ANZ entered into a technical services agreement to establish AmBank Group s foreign exchange, interest rate and commodities derivatives business IAG increased its stakeholding in AmG Insurance Berhad to 49.0% from 30.0% 2009 AmIslamic Funds Management Sdn Bhd obtained a licence for Islamic funds management of offshore and domestic Islamic financial instruments for institutional and retail investors AmCapital (B) Sdn Bhd opened, bringing expertise in funds management, Islamic finance and investment advisory to Brunei Darussalam ANZ increased its shareholding in AmBank Group to 23.91% by converting its exchangeable bonds into new ordinary shares AmBank-MyKasih Community Programme was launched 2010 AmBank (M) Berhad successfully issued RM1.42 billion senior notes under its newly established 30-year RM7.0 billion Senior Notes Issuance Programme, being the first financial institution to issue senior notes in Malaysia AmIslamic Bank successfully issued RM550.0 million Senior Sukuk under its newly established 30-year RM3.0 billion Senior Sukuk Musyarakah Programme 2011 The Group continued to be recognised as an industry leader with awards including: Best Domestic Bond House in Malaysia from The Asset Triple A Country Awards 2010, Best Bond Group at The Edge-Lipper Malaysia Fund Awards, Five awards at the RAM League Awards 2011 for excellence in the bond markets, Best Chief Financial Officer for Investor Relations Large Cap Award at the MIRA Inaugural Malaysia Investor Relations Awards, Best Asia Award at the Corporate Governance Asia Recognition Awards AmBank Group and ANZ signed a Business Principles Agreement to collaborate in areas of banking businesses including Islamic banking, transaction banking and wealth management across 27 countries, including Australia, China, Indonesia, Singapore and Vietnam AmSignature Priority Banking was launched, delivering personalised banking to the affluent segment in Malaysia AmFamily Takaful Berhad commenced Family Takaful business The Group s new corporate social responsibility platform AmKasih was launched AMMB Holdings Berhad changed its stock short name to AMBANK AmBank Group completed acquisition of Kurnia Insurans (Malaysia) Berhad, emerging as Malaysia s No. 1 motor insurer AmBank Group completed the acquisition of MBf Cards (M sia) Sdn Bhd 2013 Maiden issuance of Exchange Traded Bonds and Sukuk ETBS on Bursa Malaysia by DanaInfra Nasional Berhad, creating new asset class on the Exchange, with AmInvestment Bank as one of the Lead Arrangers AmBank Group clinched the prestigious Bank of the Year in Malaysia 2013 award (The Banker Magazine) in recognition of the Group s strong management, sound business model and prudent risk management AmBanCS, the Group s new core banking system went live 2014 AMMB Holdings Berhad s wholly-owned subsidiary, AMAB Holdings Sdn Bhd, and MetLife Inc. s subsidiary, MetLife International Holdings Inc., entered into a share sale agreement which involved the sale of equity interest of AmLife Insurance Bhd and AmFamily Takaful Berhad. The signing was witnessed by Datuk Seri Najib Tun Razak, Prime Minister of Malaysia and Barak Obama, President of the United States of America AmBank Group unveiled the brand new logos of AmMetLife and AmMetLife Takaful, reflecting the new strategic partnership between AmBank Group and MetLife Inc 2015 The AmIslamic Bank brand was rebranded to AmBank Islamic. The legal entity name was also changed from AmIslamic Bank Berhad to AmBank Islamic Berhad AmFIRST REIT announced the Proposed Acquisition of a three-storey MYDIN Hypermall in Pulau Pinang on 15 April 2015 for a total cash consideration of RM250 million 2016 AmMetlife Insurance and AmMetlife Takaful moved their head office to Menara 1Sentrum AmBank Group launched its Top Four strategy to be one of Malaysia s leading banking groups by 2020 Overview p. 1 - p. 7 Key Highlights p. 8 - p. 9 Key Messages p p. 21 About Us p p. 37 Leadership p. 38- p. 67 Strategic Review p p. 87 Performance Review p p. 113 Business Review p p. 135 Sustainability Statement p p. 175 Corporate Governance p p. 225 Highlights and Achievements p p. 237 Stakeholders Information p p. 266

9 CORPORATE INFORMATION BOARD OF DIRECTORS AUDIT AND EXAMINATION COMMITTEE OF DIRECTORS 1. Tan Sri Azman Hashim Non-Independent Non-Executive Chairman 2. Graham Kennedy Hodges 3. Suzette Margaret Corr 4. Soo Kim Wai 5. Dato' Rohana binti Tan Sri Mahmood Senior 6. Dato Seri Ahmad Johan bin Mohammad Raslan 7. Voon Seng Chuan 8. Datuk Shireen Ann Zaharah binti Muhiudeen 9. Seow Yoo Lin GROUP COMPANY SECRETARY Koid Phaik Gunn MAICSA Chartered Secretary 1. Seow Yoo Lin (Chairman) 2. Soo Kim Wai 3. Voon Seng Chuan GROUP NOMINATION AND REMUNERATION COMMITTEE 1. Dato Rohana binti Tan Sri Mahmood (Chairman) Senior 2. Suzette Margaret Corr 3. Soo Kim Wai 4. Voon Seng Chuan 5. Datuk Shireen Ann Zaharah binti Muhiudeen RISK MANAGEMENT COMMITTEE OF DIRECTORS 1. Datuk Shireen Ann Zaharah binti Muhiudeen (Chairman) 2. Graham Kennedy Hodges 3. Voon Seng Chuan p. 32 p. 33 AMMB Holdings Berhad ( V) Annual Report 2017 ambankgroup.com

10 GOVERNANCE COMMITTEE GROUP INFORMATION TECHNOLOGY COMMITTEE 1. Dato Rohana binti Tan Sri Mahmood (Chairman) Senior 2. Graham Kennedy Hodges 3. Soo Kim Wai 4. Dato Seri Ahmad Johan bin Mohammad Raslan 1. Voon Seng Chuan (Chairman) 2. Dato Seri Ahmad Johan bin Mohammad Raslan 3. Seow Yoo Lin REGISTERED OFFICE 22 nd Floor, Bangunan AmBank Group No. 55, Jalan Raja Chulan Kuala Lumpur, Malaysia Tel : Fax : STOCK EXCHANGE LISTING Listed on the Main Market of Bursa Malaysia Securities Berhad Listing Date : 13 February 1992 Stock Name : AMBANK Stock Code : 1015 REGISTRAR Symphony Share Registrars Sdn Bhd Level 6, Symphony House Pusat Dagangan Dana 1 Jalan PJU 1A/46, Petaling Jaya Selangor Darul Ehsan, Malaysia Tel : Fax : / ssr.helpdesk@symphony.com.my WEBSITE ambankgroup.com AUDITORS Messrs Ernst & Young Chartered Accountants INVESTOR RELATIONS ir@ambankgroup.com PRINCIPAL BANKER AmBank (M) Berhad Overview p. 1 - p. 7 Key Highlights p. 8 - p. 9 Key Messages p p. 21 About Us p p. 37 Leadership p. 38- p. 67 Strategic Review p p. 87 Performance Review p p. 113 Business Review p p. 135 Sustainability Statement p p. 175 Corporate Governance p p. 225 Highlights and Achievements p p. 237 Stakeholders Information p p. 266

11 GROUP CORPORATE STRUCTURE as at 31 March 2017 AMMB Holdings Berhad AmIslamic AmBank MBFC AMFB* AmInvestment AIGB AMAB AMIL BLSB 33.33% AMF AARH 70% AmGH 51% MISSB MNT 20% MTB 20% 20% AMNT AMNA AAMNT AAMNA AmCap (B) AIM* MVMI* AARM AmMetL 50% -1 share AmMetT 50% +1 share AmGI APHSB AMSNT AmPE* 80% AmCSB AMSNA AMSH TOPSB AFM ASHK* BDSB AIFM AMS* MPSB 81.51% AmFIPL AmPremier AmGlobal* AmMortgage AMR* ACL* ATSL* KOMUDA* *In members voluntary winding-up p. 34 p. 35 AMMB Holdings Berhad ( V) Annual Report 2017 ambankgroup.com

12 Legend Company Principal Activities AMMB AMMB Holdings Berhad Investment holding AMFB AMFB Holdings Berhad Investment holding (In members voluntary winding-up) AmIslamic AmBank Islamic Berhad Islamic banking AmBank AmBank (M) Berhad Commercial banking AMIL AmLabuan Holdings (L) Ltd Investment holding AmCSB AmCard Services Berhad Credit card-related services and asset financing agency AmPremier AmPremier Capital Berhad Issue of subordinated securities AmMortgage AmMortgage One Berhad Securitisation of mortgage loans MTB MBf Trustees Berhad Trustee services MNT MBf Nominees (Tempatan) Sdn Bhd Nominee services MISSB MBf Information Services Sdn Bhd Property investment APHSB AmProperty Holdings Sdn Bhd Property investment BDSB Bougainvillaea Development Sdn Bhd Property investment MPSB Malco Properties Sdn Bhd Dormant TOPSB Teras Oak Pembangunan Sendirian Berhad Dormant ATSL AmTrade Services Limited Dormant (In members voluntary winding-up) ACL AMBB Capital (L) Ltd. Dormant (In members voluntary winding-up) KOMUDA Komuda Credit & Leasing Sdn Bhd Dormant (In members voluntary winding-up) AmInvestment AmInvestment Bank Berhad Investment banking AMF AmFutures Sdn Bhd Dormant AFM AmFunds Management Berhad Funds management including management of unit trusts and Private Retirement Schemes AIFM AmIslamic Funds Management Sdn Bhd Islamic fund management services and distribution of wholesale funds AMNT AMMB Nominees (Tempatan) Sdn Bhd Nominee services AMNA AMMB Nominees (Asing) Sdn Bhd Nominee services AAMNT AM Nominees (Tempatan) Sdn Bhd Nominee services AAMNA AM Nominees (Asing) Sdn Bhd Nominee services AMSNT AMSEC Nominees (Tempatan) Sdn Bhd Nominee services AMSNA AMSEC Nominees (Asing) Sdn Bhd Nominee services AmFIPL AmFraser International Pte Ltd Investment holding AmGlobal AmGlobal Investments Pte Ltd Dormant (In members voluntary winding-up) AMR AmResearch Sdn Bhd Dormant (In members voluntary winding-up) AIGB AmInvestment Group Berhad Investment holding AmCap (B) AmCapital (B) Sdn Bhd Dormant AARH Am ARA REIT Holdings Sdn Bhd Investment holding AARM Am ARA REIT Managers Sdn Bhd Management of real estate investment trusts AMSH AmSecurities Holding Sdn Bhd Investment holding ASHK AmSecurities (HK) Limited Dormant (In members voluntary winding-up) AIM AmInvestment Management Sdn Bhd Dormant (In members voluntary winding-up) AmPE AmPrivate Equity Sdn Bhd Investment holding (In members voluntary winding-up) AMS AMSEC Holdings Sdn Bhd Dormant (In members voluntary winding-up) MVMI Malaysian Ventures Management Incorporated Sdn Bhd Dormant (In members voluntary winding-up) AMAB AMAB Holdings Sdn Bhd Investment holding AmGH AmGeneral Holdings Berhad Investment holding AmGI AmGeneral Insurance Berhad General insurance AmMetL AmMetLife Insurance Berhad Life assurance AmMetT AmMetLife Takaful Berhad Family takaful MBFC MBF Cards (M sia) Sdn Bhd Dormant BLSB Bonuskad Loyalty Sdn Bhd Managing customer loyalty schemes Overview p. 1 - p. 7 Key Highlights p. 8 - p. 9 Key Messages p p. 21 About Us p p. 37 Leadership p. 38- p. 67 Strategic Review p p. 87 Performance Review p p. 113 Business Review p p. 135 Sustainability Statement p p. 175 Corporate Governance p p. 225 Highlights and Achievements p p. 237 Stakeholders Information p p. 266

13 STRATEGIC BUSINESS ENTITIES AMMB Holdings Berhad AmBank (M) Berhad AMMB Holdings Berhad is the holding company of AmBank Group and has been listed on the Main Market of Bursa Malaysia since It is the sixth largest banking group by assets in Malaysia, with a market capitalisation of around RM14 billion and assets of RM134.8 billion at 31 March AmBank Group is one of Malaysia s premier financial solutions groups with 42 years of experience in supporting Malaysians in their economic development. AmBank Group offers a wide range of both conventional and Islamic financial solutions and services, including wholesale banking, retail banking, investment banking, underwriting of general insurance, life assurance and takaful, stock and share broking, futures broking, investment advisory and management services in assets, real estate investment trust and unit trusts. The Group s purpose is to help individuals and businesses in Malaysia grow and win together. The Australia and New Zealand Banking Group (ANZ) is the most substantial shareholder in the AmBank Group (holding 23.8%) and provides support in Board and senior management representations, risk and financial governance, products offering and new business developments. In the general insurance business, the Group has partnered with Insurance Australia Group Ltd (IAG). In the life assurance and family takaful businesses, the Group has a partnership with MetLife International Holdings Inc (MetLife). The Group benefits in terms of expertise transfer from IAG and MetLife. AmBank (M) Berhad (AmBank) is part of the AmBank Group and offers a comprehensive suite of financial products and services focused on retail banking and preferred segments in small business, SME, mid corp and corporate customers. Supported by a strong network of 175 branches, 183 electronic banking centres, 766 ATMS, a 24-hour contact centre and a digital banking system, access to AmBank s financial solutions and services is simple and convenient. p. 36 p. 37 AMMB Holdings Berhad ( V) Annual Report 2017 ambankgroup.com

14 AmInvestment Bank Berhad AmMetLife Insurance Berhad AmInvestment Bank Berhad (AmInvestment Bank), part of the AmBank Group, is a leading Malaysian investment bank with over 30 years of experience. It provides a full range of wholesale banking related products and services that include Corporate Finance, Equity Markets, Debt Markets, Islamic Capital Markets, and Markets & Private Banking. AmInvestment Bank has an award-winning track record in the debt, equity and Islamic capital markets. AmFunds Management Berhad (AmInvest) is the funds management business of AmBank Group and manages both conventional and Shariahcompliant funds. It is one of the leading fund management houses in Malaysia and has an award-winning track record spanning more than three decades. As at 31 March 2017, AmInvest has approximately RM37.2 billion assets under management. AmInvest manages unit trust and wholesale funds, institutional mandates, exchange-traded funds and Private Retirement Scheme funds, encompassing both conventional and Shariahcompliant funds. AmMetLife Insurance Berhad (AmMetLife) is a strategic partnership between AMMB Holdings Berhad (AmBank Group) and MetLife International Holdings, Inc. (MetLife). AmMetLife offers a comprehensive range of life assurance and wealth protection solutions distributed through a combination of AmBank and AmMetLife branch offices nationwide, in addition to the strength of its authorised life insurance agents nationwide. AmBank Islamic Berhad AmGeneral Insurance Berhad AmMetLife Takaful Berhad AmBank Islamic Berhad (AmBank Islamic) is the Islamic banking arm of the AmBank Group. Since its beginnings as AmBank Group s Islamic banking division in 1993 and subsequently incorporated as an Islamic bank in 2006, AmBank Islamic has built a reputation in serving the banking needs of individuals, businesses and institutions. AmBank Islamic s comprehensive range of Shariah-compliant retail and wholesale banking products and services (including treasury and trade solutions), and their delivery channels; continuously evolve in line with market changes. This dynamic approach supports the agenda to help individuals, businesses and institutions in Malaysia grow and win together. AmGeneral Insurance Berhad (AmGeneral Insurance) is one of the largest motor and general insurance companies in Malaysia with over four million policy holders. It is backed by a strong partnership between AmBank Group and IAG Trading under its two trusted brands, AmAssurance and Kurnia. AmGeneral Insurance generates business from a comprehensive range of general insurance solutions distributed through a network of 32 insurance branches servicing 7,000 agents and dealers, as well as through AmBank branches and customer touch points nationwide. AmMetLife Takaful Berhad (AmMetLife Takaful) is a strategic partnership between AmBank Group and MetLife. The strategic partnership combines the international expertise and financial strength of MetLife with the local strength and reach of AmBank Group. AmMetLife Takaful offers a comprehensive range of takaful solutions distributed by its authorised takaful agents and AmBank branches nationwide. Overview p. 1 - p. 7 Key Highlights p. 8 - p. 9 Key Messages p p. 21 About Us p p. 37 Leadership p. 38- p. 67 Strategic Review p p. 87 Performance Review p p. 113 Business Review p p. 135 Sustainability Statement p p. 175 Corporate Governance p p. 225 Highlights and Achievements p p. 237 Stakeholders Information p p. 266