The EGMS also approved the retirement of Henry Ho and the appointment of Muliadi Rahardja as Vice President Director

PT Bank Danamon Indonesia, Tbk. ("Danamon") held an Extraordinary Meeting of Shareholders (EGMS) today, which approved the retirement of Henry Ho from the President Director position and the appointment of Sng Seow Wah as the new President Director. The EGMS also approved the appointment of Muliadi Rahardja as Vice President Director of Danamon.

"We would like to thank and give our sincere appreciation to Henry Ho for his dedication to the Bank in the last five years. Henry Ho's contribution is significant in introducing various innovations and establishing Danamon as an integral part of the Indonesian financial industry. At the same time, we would also like to welcome Sng Seow Wah, who will lead and play an important role in Danamon's growth going forward," said Ng Kee Choe, President Commissioner of Danamon. 

Sng Seow Wah was appointed as the President Director following a search locally and regionally and after taking into consideration Danamon's Nomination Committee's recommendation. Sng Seow Wah is an experienced banker and has held various high level positions in numerous banks, including Citibank N.A Singapore OCBC Bank, and his most recent position was the Group CEO of Alliance Bank Malaysia Bhd/Alliance Financial Group Bhd. Sng Seow Wah has also passed a Fit and Proper Test administered by the OJK

"I am very honored and excited to have been appointed as the President Director of Danamon. The Indonesian banking industry still offers various opportunities for growth, particularly in the micro, small and medium enterprises sector. I am looking forward to expand Danamon's presence in the industry and its contribution to this growing economy," said Sng Seow Wah.   

In addition, Muliadi Rahardja was appointed as the Vice President Director of Danamon. Muliadi Rahardja, a member of Danamon's Board of Director since 1999, has extensive banking experiences and has served Danamon in various capacities since 1989.

"I would like to use this opportunity to express my deepest appreciation to all customers, partners, regulators, members of the media as well as Danamon and Adira employees who have been very supportive in my 5 years as President Director. I have been fortunate to be part of a growing industry, having witnessed firsthand the impacts of financial services in enabling millions of Indonesians to prosper," added Henry Ho.  

Following the Extraordinary General Meeting of Shareholders, the composition of Danamon's Board of Director becomes as follows:

• Sng Seow Wah as President Director
• Muliadi Rahardja as Vice President Director
• Vera Eve Lim as Director
• Herry Hykmanto as Director
• Kanchan Keshav Nijasure as Director
• Fransiska Oei Lan Siem as Director (Independent)
• Pradip Chhadva as Director;
• Michellina Lakshmi Triwardhanny as Director.
• Satinder Pal Singh Ahluwalia as Director.


Profile of Sng Seow Wah:
An experienced banker, Sng Seow Wah did a successful assignment in Malaysia as Group Chief Executive Officer of Alliance Bank Malaysia Berhad, a subsidiary of Alliance Financial Group Berhad, from 2010 to 2014. Previously, he served as the Head of Human Resources, Special Projects and Corporate Communications of Fullerton Financial Holdings (International) Pte. Ltd.. He has extensive experience in commercial banking, having assumed high level positions in major banks such as OCBC Bank, Citibank N.A. Singapore, Westpac Banking Corp., and Banque Nationale De Paris. Sng Seow Wah holds a Bachelor's Degree in Accountancy from the National University of Singapore and attended an Advanced Management Program at The Wharton School of the University of Pennsylvania.

Profile of Muliadi Rahardja
Muliadi Rahardja has been the Director of Danamon since December 1999. He started his career in a consulting company in 1983 and joined PT Sepatu Bata Indonesia Tbk in 1984. He then joined Lippo Group in 1985 and was responsible for finance and business, insurance, garment and banking with last position as the Deputy Group Head of Management Information System. In 1989, Muliadi Rahardja started joining Danamon as the Branch Manager in Tangerang. Later on, he was assigned as the Head of Corporate Planning and Strategy Division before appointed as the Director of Danamon in 1999. Muliadi Rahardja graduated from the Faculty of Economics, University of Indonesia and earned his MBA from the Massachusetts Institute of Technology in 1998.


About Danamon:
PT Bank Danamon Indonesia, Tbk. ('Danamon') was established in 1956 and as of December 31, 2014 operates a network of 2,125, including among others conventional branches, Danamon Simpan Pinjam (DSP) and Syariah units as well as its subsidiaries branches. As of December 31, 2014 Danamon provides its customers with close to 60,000 ATMs, including through its association with ATM Bersama and ALTO, in all 33 provinces in Indonesia. Danamon manages around IDR 195.7 trillion in assets as of December 2014.
Danamon was recently awarded as 1st Winner of the Annual Report Award (ARA) 2013 in the Private Financial Listed category, which was issued by Bank Indonesia, the Financial Services Authority (OJK), the Indonesian Stock Exchange (IDX), the Tax Directorate General, the Ministry of State Owned Enterprises, the National Committee for Governance Policy, and the Indonesian Accountant Association. Danamon was also awarded as 'Best Overall' in Corporate Governance during the 6th Corporate Governance Award, which was held by The Indonesian Institute for Corporate Directorship (IICD). Danamon was also awarded 1st runner up in the Financial Services category for Best Sustainability Reporting 2013 during the Sustainability Reporting Award 2014 held by The National Center for Sustainability Reporting (NCSR).  Internationally, Danamon was included in the 2014 Forbes Global 2000, which is a list of the world's largest public companies as compiled by Forbes Magazine.

Danamon is also the sole license holder of Manchester United cards in Indonesia, allowing the Bank to issue Manchester United ATM/Debit cards and credit cards.

PT Adira Dinamika Multi Finance, Tbk. (Adira Finance), the automotive financing subsidiary of Danamon, operates an extensive branch network in more than 260 cities in Indonesia. Danamon is also the majority owner of PT Asuransi Adira Dinamika (Adira Insurance), a general insurance company and PT Adira Quantum Multifinance (Adira Kredit), a durable goods financing company.

As of December 31, 2014, Danamon was 67.37% owned by Asia Financial (Indonesia) Pte. Ltd., 6.79% by JPMCB-Franklin Templeton Investment Funds and 25.84% by the Public.

For further information regarding Danamon, please visit Danamon's corporate website at: www.danamon.co.id.

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