general insurance risks. Mayban-Phoenix Assurance was renamed Mayban Assurance in 1986 1984 – New York branch opened 1990 – Set up new operations in the Federal Territory of Labuan 1992 – Mayban Securities formed. 1993 – Maybank Ventures begins operations in February. In September, Aseam Leasing and Credit Bhd are incorporated, offering leasing and hire purchase activities. Opens representative office in Beijing, People’s Republic of China 1994 – Entered a joint-venture with PT Bank Nusa Nasional (Indonesia), bringing the Maybank name to the Indonesian market. A branch is opened in Phnom Penh, Cambodia 1995 – Maybank (PNG) Ltd. opens in Port Moresby and Lae 1996 – Hanoi branch and a representative office in Ho Chi Minh City are officially opened. Maybank Bankassurans launched, offering insurance products to customers at bank branches. Kwong Yik Bank sold to Rashid Hussain Berhad in December 1997 – Acquired a 60% stake in PNB-Republic Bank of the Philippines and renamed it Maybank Philippines Inc 2000 – First Malaysia bank to open a branch in Shanghai, People’s Republic of China. Acquired Pacific Bank and the Phileo Allied Bank Bhd, and then merged in 2001 2001 – Maybank and Fortis International NV collaborate to set up Mayban Fortis Holdings Bhd in a 70:30 partnership. All Maybank’s insurance companies are grouped under Mayban Fortis Holdings Bhd 2002 – Mayban Takaful Bhd commences operations, the first Takaful company owned by a conventional bank in Malaysia. First Malaysia bank to operate in Bahrain 2005 – Acquired Malaysia National Insurance Bhd (MNI) and its subsidiary, Takaful Nasional Sdn Bhd (Takaful Nasional) 2006 – Maybank acquired American Express' card business in Malaysia 2007 – Launched Etiqa, the new brand name for Maybank’s conventional and takaful businesses under Mayban Fortis Holdings Bhd 2008 – Islamic banking subsidiary, Maybank Islamic Berhad, established. Acquires stakes in An Binh Bank (Vietnam), MCB Bank Ltd of Pakistan and Bank Internasional Indonesia 2009 – Renamed Aseambankers to Maybank Investment Bank. Completed a RM6 billion rights issue – the largest in Malaysian corporate history 2010 – Introduced a Dividend Reinvestment Plan, the first public listed company in Malaysia to do so 2011 – Acquired Kim Eng Holdings Limited, making it its subsidiary 2012 - First branch in Laos opened, completing the Group’s footprint in all 10 ASEAN nations 2015 - Exited Papua New Guinea with the sale of Maybank (PNG) Limited and Mayban Property (PNG) Limited to Kina Ventures