Fitch IBCA Ratings - Press Releases - Ratings Withdrawn For Sime Bank: Integration into RHB Bank Complete

Ratings Withdrawn For Sime Bank: Integration into RHB Bank Complete

Fitch IBCA-London/Singapore-1 July1999: Fitch IBCA, the international rating agency, has today withdrawn its ratings of 'E' Individual and '2' Support for Malaysia's Sime Bank. The action follows the integration, on 30th June 1999, of Sime Bank's operations with those of RHB Bank, now the third largest Malaysian bank. As Sime Bank no longer exists, the agency is withdrawing its ratings.

Contact: Wei Kee Woods; Sam Chin, Singapore Tel: +65 221 3350

NOTES: FITCH IBCA'S SUPPORT AND INDIVIDUAL RATINGS FOR BANKS -- Fitch IBCA's Individual ratings assess how a bank would be viewed if it were entirely independent and could not rely on external support. Its Support ratings deal with the question of whether a bank would receive support form its owners or from the state if it were to get in to difficulty. These ratings are not debt ratings but rather, respectively, an assessment of the intrinsic strength of a bank and of any level of outside support that may, or may not, be available to it.

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