1.    INTRODUCTION 

The Board of Directors of MIB wishes to announce that Mulpha SPV Limited (“MSPV”), a wholly-owned subsidiary of MIB, has on 6 September 2016, issued US$90,000,000 Nominal Amount of Fixed Rate Notes due 2019 (“the Notes”).

2.     DESCRIPTION OF THE NOTES

The Notes which are issued at an interest rate of 6% per annum payable semi-annually, are guaranteed by MIB and will mature on 6 September 2019. The Notes will be listed on the Labuan International Financial Exchange and The Stock Exchange of Hong Kong Limited. 

3.     UTILISATION OF PROCEEDS

The proceeds of US$90,000,000 from the issuance of the Notes will be utilised for the redemption of Series 4 US$90,000,000 Nominal Amount of Fixed Rate Notes (“Series 4 Notes”).

4.     EFFECTS OF THE ISSUANCE OF THE NOTES

(a)    Share Capital and Substantial Shareholders’ Shareholdings 

The issuance of the Notes will not have any effect on the share capital and substantial shareholders’ shareholdings of MIB.
        
(b)    Net Assets, Gearing and  Earnings Per Share 

The issuance of the Notes is not expected to have any material effect on the net assets, gearing and earnings per share of MIB Group for the financial year ending 31 December 2016.  

The issuance of the Notes will not increase the borrowings of MIB Group, in view that the entire proceeds from the issuance of the Notes will be utilised for the redemption of Series 4 Notes.
    

This announcement is dated 6 September 2016.