Chairman Emeritus' Statement

At the start of 2016, I said the year ahead was going to be tough and so it was. Events unfolded in the global arena that added to the uncertainties brought about by market volatility. Technological innovations altered and accelerated the way business is done and lifestyles are lived. On the political front, people made collective choices that brought surprising changes. We chose to be cautious and to keep an open mind.

Management spent 2016 strengthening the Bank’s infrastructure to build capabilities for the future. We will keep assessing opportunities and exploring new business models, while prudently managing risks.

I am pleased to note that Management, in its focus and approach to banking and service to customers, continues to promote the Bank’s values of honour, enterprise, unity and commitment. These values will stand us in good stead to face the challenges that 2017 will bring.

I am indeed honoured to carry on as a Director, Chairman Emeritus and Adviser to the Bank. As before, I shall ensure that we look after the interests of all our stakeholders.

I thank all our customers and shareholders for your loyal support.

Wee Cho Yaw

Chairman Emeritus and Adviser

February 2017