INTENDED APPLICATION BY RHB SECURITIES HONG KONG LIMITED (“RHBSHK”) AND RHB FUTURES HONG KONG LIMITED (“RHBFHK”) TO TRANSFER THEIR RESPECTIVE CLIENTS’ UNCLAIMED ASSETS INTO THE HIGH COURT OF HONG KONG
   
From 9 December 2019, RHBSHK and RHBFHK contacted their respective clients by way of written notices to each client’s last known address, email, by posting website announcements and by phone to inform the clients that RHBSHK and RHBFHK intend to cease all business operations in Hong Kong by 30 June 2020 and to obtain the clients’ instructions to transfer or withdraw their assets held by RHBSHK and/or RHBFHK.
 
RHBSHK and RHBFHK also sent written notices to their respective clients to inform them that their client agreement with RHBSHK and/or RHBFHK (as applicable) would be terminated on 31 March 2020, 28 April 2020 or 29 May 2020 (as applicable to the particular client). Those client agreements were terminated accordingly.
 
RHBSHK and RHBFHK intend to apply to the High Court of Hong Kong shortly to transfer their respective clients’ unclaimed assets into the High Court of Hong Kong pursuant to section 62 of the Trustee Ordinance (Cap.29). For those clients who have not yet responded to or received RHBSHK and/or RHBFHK’s written notices, please contact RHBSHK and/or RHBFHK immediately.
 
RHBSHK and RHBFHK’s details are:
 
Address:    12/F Hip Shing Hong Kowloon Centre, 192-194 Nathan Road, Jordan, Kowloon, Hong Kong
Hotline:      (852) 2103 5657 / (852) 2525 1118
Fax:             (852) 2810 0908
Email:          rhb.hk.support@rhbgroup.com
 
RHB Securities Hong Kong Limited and RHB Futures Hong Kong Limited

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NOTICE TO CUSTOMERS
 
Dear customers
Important announcement
After careful consideration, a difficult decision has been made by RHB Hong Kong Limited (RHB Hong Kong) and its subsidiaries[i] (collectively, RHB Hong Kong Group) to cease their business operations (Proposed Cessation). RHB Hong Kong is a wholly-owned subsidiary of RHB Investment Bank Berhad (RHB Investment Bank), which in turn is wholly-owned by RHB Bank.
The increasingly challenging operating broking environment in Hong Kong has resulted in losses being recorded for RHB Hong Kong Group. As a result, it is no longer viable for RHB Hong Kong Group to continue its business operations. The Proposed Cessation would allow RHB Investment Bank to refocus efforts and resources in driving long-term growth in other ASEAN markets in line with the larger RHB Banking Group’s FIT22 strategy.
Timing
Subject to relevant regulatory obligations being complied with and barring any unforeseen circumstances, the Proposed Cessation is expected to be completed by the 2^nd quarter of 2020.
What does this mean for customers
The RHB Hong Kong Group is committed to meeting their obligations to their customers pursuant to the terms and conditions entered into with their customers (Customer Agreements). RHB Hong Kong Group will also continue to act in accordance with all applicable laws, rules, regulations, guidelines, requests, and/or recommendations of public and regulatory organisations or authorities.
The RHB Hong Kong Group's relationship with each of its customers will continue until such time as it is terminated in accordance with the terms of the relevant Customer Agreement. The RHB Hong Kong Group may facilitate the transfer of some customers to other financial services providers. Such customers will be notified, and consent obtained, as necessary.
In the meantime, customers have the option to terminate their relevant Customer Agreement by giving written notice in accordance with the terms of the Customer Agreement.
RHB Investment Bank will provide support to ensure an orderly winding down of the RHB Hong Kong Group's business operations.
Further information
We will provide further information to customers in due course. In the meantime, please contact your usual RHB contact or our hotline at (852) 2103 5657 / (852) 2525 1118 should you have any queries.
Thank you for being a valued customer.
Yours faithfully

IMPORTANT NOTICE