Background on the HDBSUT and HDBSAM consolidation to become HwangDBS IM:

To facilitate its on-going commitment to service and operational excellence, HDBSUT completed the acquisition of the business of its sister company, Hwang-DBS Asset Management (M) Sdn. Bhd. (HDBSAM) on 1 June 2005.

The acquisition encompassed the complete transfer of the business under HDBSAM, the fund management team and all business processes, to HDBSUT.

By leveraging the strengths, skills and expertise of both HDBSUT and HDBSAM, the consolidated entity will be able to manage both retail and corporate funds.

To reflect the underlying business nature, HDBSUT has been renamed as HwangDBS Investment Management Berhad (Formerly known as Hwang-DBS Investment Management Berhad - “HWANGDBS IM”).