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Public Bank Group Posted Pre-Tax Profit Of RM4.81 Billion For The Nine Months Ended September 2020
FOR IMMEDIATE RELEASE
 
27 November 2020

Public Bank Group Posted Pre-Tax Profit Of RM4.81 Billion For The Nine Months Ended September 2020
 
Highlights on Financial Performance
 
For the third quarter ended September 2020, the Public Bank Group’s pre-tax profit and net profit attributable to shareholders grew by 2.3% and 2.2% respectively, as compared to the corresponding quarter in 2019.
 
As for the first nine months of 2020, the Public Bank Group posted pre-tax profit of RM4.81 billion, 9.4% lower as compared to the corresponding period in 2019. Net profit attributable to shareholders stood at RM3.72 billion, 9.3% lower than the first nine months in 2019. This was mainly due to the moderating revenue growth arising from the COVID-19 pandemic, the effect of the Overnight Policy Rate (“OPR”) reduction during the year, as well as the one-off net modification loss of RM498 million incurred in the second quarter due to the COVID-19 relief measures offered to individuals and businesses.
 
Tan Sri Dato’ Sri Dr. Teh Hong Piow, the Founder, Chairman Emeritus, Director and Adviser of Public Bank, said, “The COVID-19 pandemic continued to pose significant uncertainties to the economic landscape and the business environment on all fronts. Further, a total of 125 basis points cut in the OPR this year and the higher provisions set aside in anticipation of the COVID-19 pandemic effect had continued to weigh on profitability.”
 
Tan Sri Teh added, “However, as the economy gradually reopened and supported by the various government relief and stimulus measures, the economic environment in the third quarter of 2020 had shown an improvement. The Public Bank Group recorded higher loan growth in the third quarter as compared to the earlier quarters. Total loans grew by an annualised rate of 4.8% in the first nine months of 2020. Domestic loans grew by an annualised rate of 5.6%, which was higher than the domestic banking industry’s annualised loan growth of 4.0%. On funding side, the Group posted annualised growth rate of 3.9% in both total deposits and domestic deposits.”
 
Non-interest income continued to support the Group’s financial performance, with 17.8% growth in the first nine months of 2020, mainly driven by higher investment income, as well as higher income from unit trust and stockbroking businesses.
 
Public Mutual, the Public Bank Group’s wholly-owned subsidiary, remained the main contributor to the Group’s non-interest income. As at end-September 2020, Public Mutual managed a total of 162 unit trust funds, with its total net asset value increasing from RM86.6 billion as at end-2019 to RM94.1 billion as at 30 September 2020. Public Mutual also remained as the market leader in the retail private unit trust industry, with a market share of 32.9%.
 
Tan Sri Teh highlighted, “Despite the various challenges faced in 2020, the Group recorded a resilient net return on equity of 11.3% in the first nine months of 2020. Cost-to-income ratio stood at 35.2%, as compared to the domestic banking industry’s cost-to-income ratio of 44.7%.”
 
Tan Sri Teh added, “Meanwhile, impaired loan ratio remained low at 0.3%, which was significantly better than the domestic banking industry’s impaired loan ratio of 1.4%. In addition, the Group maintained a high loan loss reserves of 209.1%. Including the RM1.7 billion regulatory reserves that the Group had set aside, total reserves for loan losses were even higher at 362.0%.”
 
Managing Impact of COVID-19
 
Tan Sri Teh highlighted, “While the difficult economic condition has continued to pose risks to asset quality, the Public Bank Group has remained in a good position to navigate the challenge. The Group’s resilient loan portfolio, prudent lending practices and strong credit risk profile have laid a solid foundation for the Group to manage any potential stress on asset quality. In addition to the various financial relief measures by the Government and Bank Negara Malaysia, the Group has also been taking pre-emptive initiatives in reaching out to customers who may need further financial assistance, and this will further mitigate any downside pressure to the Group’s asset quality.”
 
While the Group remains extra vigilant to sustain its business stability amid the highly uncertain environment, it has continued to extend its financial assistance to the customers.
 
In the third quarter of 2020, the Group continued to provide loan and financing moratorium to individuals and business enterprises. After the moratorium period ended on 30 September 2020, the Group has continued to proactively engage its customers to provide further financial assistance.
 
Tan Sri Teh said, “The Public Bank Group has been actively implementing post-moratorium loan repayment assistance programme for customers who have encountered loss or reduction in income due to the COVID-19 pandemic. The programme consists of various repayment packages which suit varying customers’ financial conditions. To ensure customer awareness and convenience in seeking further assistance, the Group has carried out various activities and facilities, such as weekend Repayment Assistance Clinic, digital application platform, virtual roadshow, as well as SMS and email blast through its extensive communication channels.”
 
Tan Sri Teh added, “Additionally, the Group has continued to be an active participating financial institution offering various Government and Bank Negara Malaysia’s special financing schemes to the small and medium enterprises (“SMEs”) which are affected by the COVID-19 pandemic. These include Bank Negara Malaysia’s Special Relief Facility, PENJANA SME Financing Scheme, PENJANA Tourism Financing Scheme, Government Guarantee Scheme, Bank Negara Malaysia’s SME All Economic Sectors Facility, SME Automation and Digitalisation Facility, Agrofood Facility and Micro Enterprises Facility. The Group has approved more than RM3 billion financing to about 14,000 businesses under such special financing schemes.”
 
Tan Sri Teh further added, “During this challenging period, the Public Bank Group’s active participation in all the various financial relief measures, including loan moratorium, loan restructuring and rescheduling and special financing schemes, has benefitted more than 1.8 million customers.”
 
Healthy Capital and Liquidity Position
 
Tan Sri Teh said, “As always, the Public Bank Group has been highly vigilant in its capital and liquidity management to ensure its capital strength and balance sheet remain resilient throughout this unprecedented difficult period.” As at the end of September 2020, the Public Bank Group’s capital position was standing strong, with its Common Equity Tier 1 Capital Ratio, Tier 1 Capital Ratio and Total Capital Ratio at 13.6%, 13.7% and 16.8% respectively. The Group’s liquidity coverage ratio also remained healthy at 159.0%.
 
Group’s Prospect
 
The global economic growth is set to contract this year due to the wide-ranging and severe impact arising from the COVID-19 pandemic on economic activities and social movements. On the domestic front, while the Malaysian economy is expected to be on the negative trajectory for the whole of 2020, gradual economic recovery and the significant support measures by the Government and Bank Negara Malaysia will continue to cushion the adverse impact of the pandemic. However, the resurgence of COVID-19 among the community has remained a concern.
 
 
Tan Sri Teh said, “In line with the concerted efforts by the Government and Bank Negara Malaysia to provide financial relief to individuals and businesses and spur the country’s economy, the Public Bank Group will continue to take a proactive and accommodative stance in the provision of assistance to its customers.”
 
Tan Sri Teh concluded, “Against this unprecedented challenging environment, the Group has been managing well in safeguarding its bottom line. As the outlook remains highly uncertain, the Group will continue to focus and be extra vigilant to ensure prudent credit policies, robust risk management, cost efficiency and good corporate governance. As the Group embraces challenges with these strong core competencies, the Group will also remain agile and leverage on the opportunities arising from the shift in customer demand and needs during this challenging time.”
 
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Y.Bhg. Tan Sri Dato' Sri Dr. Teh Hong Piow
Founder, Chairman Emeritus, Director and Adviser of Public Bank
 
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Public Islamic Bank Launched Solar Panel Financing for Residential Houses
FOR IMMEDIATE RELEASE
 
16 November 2020
 
Public Islamic Bank Launched Solar Panel Financing for Residential Houses

Public Islamic Bank Berhad (PIBB) launched the Solar Panel Financing for residential houses aimed exclusively for existing PIBB and Public Bank Berhad (PBB) house financing customers, beginning from 12 November 2020 to 31 December 2021.

This financing package is part of the PIBB’s effort to contribute positively to the society’s well-being via the Value Based Intermediation (VBI).

VBI aimed to align Islamic finance business models towards realising the objectives of Shariah principles to generate positive and sustainable impact to the economy, community and environment.

The financing rate is from Base Rate (BR) +2.00% per annum (currently BR is at 2.27% p.a. with effect from 10 July 2020) with tenure up to 10 years.

Apart from protecting the environment with electricity generated from sustainable sources, customers will also save money due to lower or zero electricity bills, depending on usage.  

This campaign also supported the government’s initiative to encourage Malaysia’s renewable energy uptake where the solar panel will operate under schemes from Sustainable Energy Development Authority (SEDA) including Net Energy Metering (NEM) and Self-Consumption (SELCO). Customers may choose their preferred solar company from the Bank’s list of solar company partners.  

PIBB is also looking into offering this financing to commercial sector in the near future as it is expected to produce positive impact to the environment from sustainability perspectives as well as  contribute to cost savings for participating companies.

For further details, customers may visit any of PBB/PIBB’s branches, log on to PIBB’s website at www.publicislamicbank.com.my or call the toll-free number at 1-800-22-5555 during normal working hours. Terms and conditions apply.
 
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Comments On The Budget 2021
For Immediate Release
 
6 November 2020

Comments On The Budget 2021
 
We commend the Government in formulating Budget 2021 which leaves no one behind. With an immediate focus on protecting livelihoods while also supporting and revitalising businesses, we are confident that the measures announced will help see Malaysia’s economic growth well on the road to a sustained recovery.
 
We are fully supportive of the Government’s moves in ensuring the truly deserving, especially the B40 and unemployed, are fully taken care of, either through specific initiatives or targeted assistance. We applaud the Government’s finger on the pulse of the nation in meeting the needs of the day through increasing the quantum of personal and corporate financial assistances and the expanding of various subsidy and financing schemes.
 
During this trying time, Public Bank will continue to actively engage and assist customers by providing further assistance required under the expanded targeted repayment assistance programme.
 
Public Bank will continue to be fully supportive of the Government’s measures by facilitating continued access to financing, particularly business financing for the small and medium enterprises. In addition, we will continue to support financing for affordable housing, in line with the Government’s efforts to promote home ownership among Malaysians. 
 
The strengthening of various industries by the Government, the continuation of ongoing infrastructure projects and the many incentives to encourage private sector investments will contribute to the broad-based recovery and economic growth expected in 2021.
 
We will continue to effectively facilitate the Government’s Budget 2021 themes of caring for the people, steering the economy and enabling sustainable living. Unprecedented times call for extraordinary measures and collective effort, a call by the Government which we are in full support of.
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Y.Bhg. Tan Sri Dato' Sri Dr. Teh Hong Piow
Founder, Chairman Emeritus, Director and Adviser of Public Bank

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Public Bank Remains Committed to Provide Targeted Repayment Assistance After 30 September 2020
For Immediate Release
 
21 October 2020

Public Bank Remains Committed to Provide Targeted Repayment Assistance After 30 September 2020
 
With the resurgence of COVID-19 and several areas falling under Conditional Movement Control Order (CMCO) and Enhanced Movement Control Order (EMCO) such as Kuala Lumpur, Selangor, Putrajaya, Sabah and Labuan, Public Bank reassures customers that its commitment and provision of repayment assistance will continue nationwide.
 
Public Bank Managing Director and Chief Executive Officer, Tan Sri Dato’ Sri Tay Ah Lek said today, “Public Bank remains fully committed to provide assistance for customers who need financial help under the prevailing challenges resulted from the unprecedented pandemic. In addition to the rescheduling of repayment plan for customers who encounter a reduction in income, all applications by customers who are unemployed arising from the pandemic have been granted a further 3-month extension of loan moratorium.”
 
With earlier 6-month loan moratorium ended on 30 September 2020, Public Bank continued its commitment to provide assistance to customers who face financial constraints and actively engage them to provide further financial assistance.
 
Public Bank’s loan repayment assistance programme consists of various flexible packages which are catered for the varying needs of individual customers and business enterprises. Since the commencement of targeted repayment assistance, Public Bank has to date approved more than 90,000 applications, accounting for almost 100% of total applications received from customers. Of these approved cases, about 28% of applications have been granted extension of 3-month loan moratorium due to the unemployment caused by the pandemic.
 
Tan Sri Tay added, “For the general public and customers, Public Bank assures continued banking services remain accessible throughout the movement control period. Our branches and online banking platforms will also remain operational to meet customers’ banking needs.”
 
The Bank is fully committed and remains accommodative to repayment assistance applications and customers may continue to contact the Bank via email or telephone. Alternatively, customers may submit their applications via Public Bank’s digital platform. For further information, customers may visit the Bank’s website at https://apply.pbebank.com/pbrnr/.
 
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Thorough Disinfection Following Confirmed COVID-19 Case in Menara Public Bank
FOR IMMEDIATE RELEASE
 

13 October 2020
Thorough Disinfection Following Confirmed COVID-19 Case in Menara Public Bank
 
Public Bank confirms that one of its staff at Menara Public Bank, Jalan Ampang, Kuala Lumpur, has been tested positive for COVID-19 on 12 October 2020.  The said staff had not reported to work since 10 October 2020.

Deep cleansing and thorough sanitisation activities have been carried out immediately on the affected floors in accordance with Kementerian Kesihatan Malaysia guidelines. As an added precaution, the Bank has also deeply cleansed and sanitised all common areas. Disinfection will also be carried out in the entire building.

All employees who had come into close contact with that affected staff had been placed on home-quarantine and tested for COVID-19 at the Bank’s appointed private hospital.

Public Bank’s Management is continuously enhancing the staff safety measures to contain any potential risks. All staff have been advised to practise self-hygiene and adhere closely to the Standard Operating Procedures issued by Ministry of Health, as well as the provisions of Conditional Movement Control Order.   
 
The safety and wellbeing of every staff is Public Bank’s top priority. Public Bank is also taking all necessary precautionary measures to ensure the health and safety of its staff and customers in the Bank’s premises.
 
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Public Bank Founder Bags Promoting
For Immediate Release
 
24 September 2020
Public Bank Founder Bags Promoting “Excellence at Work” Award from Vietnam
 
Public Bank Founder, Chairman Emeritus, Director and Adviser Tan Sri Dato’ Sri Dr. Teh Hong Piow has added another feather to his cap with his latest award, the “Outstanding Contribution in Promoting “Excellence at Work” and in Strengthening Trade Union in 2019” award by the Vietnam Banking Trade Union.
 
This latest personal-to-holder award is in recognition of Tan Sri Teh’s extraordinary contribution towards establishing and sustaining a strong corporate culture and promoting the well-beings of all employees of Public Bank Vietnam Limited (PBVN).
 
In his speech at the award presentation ceremony at Shangri-La Hotel Kuala Lumpur on 22 September 2020, Managing Director Tan Sri Dato’ Sri Tay Ah Lek said it is a proud moment for all in Public Bank as they feel an equal sense of achievement and pride in Tan Sri Chairman Emeritus’ personal triumph.
 
“Tan Sri Chairman Emeritus has always believed that the respect and influence of the Group depends on the virtues and standards that the Group is able to develop and maintain. To ensure the Group’s corporate longevity, Tan Sri Chairman Emeritus has been unwavering in imbibing us with our core corporate values of integrity, competence and professionalism, hard work and prudence,” he said.
 
This is the first time the Vietnam Banking Trade Union has honoured a non-resident of Vietnam and with the recognition certificate signed by His Excellency Mr. Dao Minh Tu, Deputy Governor of the State Bank of Vietnam, who is also the Chairman of the Executive Board of Vietnam Banking Trade Union.
 
In acknowledging the award, Tan Sri Teh said, “Entrepreneurship is tough business. Hence it is important that I make it my priority to develop talents who understands the business and is serious to excel. Just like a gardener providing water and other nourishment to our staff.”
 
He added, “But to get to where we are, to be recognised as a committed employer to the well-being and talent development of our employees, one needs to shoulder the responsibility of keeping the staff in mind in every decision you make.
 
“Every day, when our staff come to work, they live by our corporate values and code of ethics as they know how much I believe in core values like integrity, hard work, commitment and a sense of professionalism,” Tan Sri Teh added.
 
The recognition award which was presented to him on 22 September 2020, comes with a Crystal Trophy and a token sum of Vietnamese Dong (VND) 750,000 as a reward in accordance with the prevailing regulations of the Vietnam Banking Trade Union.
 
Dedicating the award to “the committed staff of Public Bank,” he said: “Nothing stops them from doing what is best for our stakeholders. They are the unsung heroes who have stood the test of time with me, weathering financial storms and economic turmoil, to come out unscathed while creating milestones that are enviable to many.”
 
To date, Public Bank has amassed more than 600 corporate awards of excellence and distinction, while Tan Sri Teh has accumulated more than 50 personal-to-holder awards of lifetime achievements and exemplary leadership.
 
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Public Bank Founder, Chairman Emeritus, Director and Adviser Tan Sri Dato’ Sri Dr. Teh Hong Piow (centre)
with Managing Director Tan Sri Dato’ Sri Tay Ah Lek (left) and Independent Non-Executive Chairman Mr. Lai Wan (right) with the award by the Vietnam Banking Trade Union.

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FinCEN Database Leak
For Immediate Release
 
22 September 2020
FinCEN Database Leak
 
We refer to the recent news item on the US Treasury Department's Financial Crimes Enforcement Network (FinCEN) leaks concerning numerous banks and where our Bank was mentioned.
 
Public Bank views seriously the need to combat financial crimes and to comply with all applicable legal, regulatory and supervisory requirements to safeguard against threats to its customers and the banking system.
 
We have always adopted a zero tolerance approach towards money laundering and terrorism financing.
 
Monitoring and reporting of suspicious transactions are part of obligation under AML/CFT frameworks. Public Bank is subjected to strict arrangements in protecting the confidentiality and security of suspicious transaction reporting within secured IT system environment and information controls.
 
We have invested substantially in our systems capabilities to detect and report suspicious transactions to the authorities and have allocated significant resources to strengthening and maintaining our internal controls towards this purpose. 
 
We remain committed in the efforts to combat financial crimes and will cooperate with the authorities to maintain the integrity of the financial system.
 
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Public Bank Clinched 8 of Malaysian e-Payments Excellence Awards 2020
For Immediate Release
 
17 September 2020
Public Bank Clinched 8 of Malaysian e-Payments Excellence Awards 2020

Public Bank Berhad (PBB) has emerged as the biggest winner for the Malaysian e-Payments Excellence Awards (MEEA) 2020 by clinching eight awards for its outstanding contribution towards the growth of Malaysia’s e-payment ecosystem.
 
The MEEA is organised annually by Payments Network Malaysia Sdn Bhd (PayNet), the nation’s network and shared central infrastructure for Malaysia’s financial markets, to recognise outstanding achievements of banks, businesses and government agencies that have contributed significantly towards excellence, innovation and growth in electronic payments in Malaysia.
 
The eight awards that PBB won were: Best e-Payment Bank, Best IBG Bank, Best Customer Experience (FPX), Best JomPAY Bank, Best MyDebit Bank, Top JomPAY Acquirer, Top MyDebit Acquirer and Outstanding Contribution to MyDebit.
 
The awards recognise PBB’s effort in propelling e-Payments in Malaysia to greater heights which include usage, acceptance, growth, reliability, customer engagement and experience.
 
This is the second time PBB won the Best e-Payment Bank and for the fourth year running, PBB is recognised as the Best MyDebit Bank in Malaysia as well as retaining the award of Outstanding Contribution to MyDebit and MyDebit Top Acquirer Award.
 
PBB is committed and focused in driving e-Payments by providing customers and the public with alternative channels to transact more reliably, securely and efficiently at their convenience as a new norm for the nation to curb the spread of Covid-19 and reduce the physical contact between buyers and traders. 
 
PBB will continue to provide full support to boost the country’s migration to electronic payments by launching more e-Payment initiatives and will continuously enhance its digital banking platform to make e-Payments seamless for everyone.
 
PBB have also launched the Bank’s PBe QR, a simple, secure and seamless way for merchants to accept payment from their customers. Powered by PayNet’s DuitNow QR, the general public can make payment from any participating Banks or e-Wallets mobile apps. Merchants would only need to display the DuitNow QR, to accept payments without having to display multiple proprietary QR codes at payment counters.
 
PBe QR is a game changer as it enables businesses of all categories to accept payments easily at no cost. For a limited period, PBe QR will be offered to registered merchants at zero fees. PBe QR is opened for registration at Public Bank’s official website.
 
The usage of QR codes will reduce cash usage and increase digital financial inclusion for all Malaysians. The technology removes the need for customers to carry cash which liberates both customers and merchants from the risks of carrying cash.
 
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(From Left): Public Bank Card Services and Support's Director, Mr. Tee Chui Chee; Ms. Chan Chiew Peng, Senior General Manager of Retail Financial Services; Dato’ Chang Kat Kiam, Deputy CEO of PBB; Mr. Peter Schiesser, Group CEO of PayNet; Tan Sri Dato' Sri Tay Ah Lek, Chief Executive Officer/Managing Director of PBB; Dato' Sulaiman Manap, Senior Chief Operating Officer of PBB and Ms. Carene Khoo, Director of Wealth Management & Transaction Banking of Public Bank.

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Public Bank to Hold Repayment Assistance Clinics
FOR IMMEDIATE RELEASE
 

11 September 2020
 
Public Bank to Hold Repayment Assistance Clinics

Public Bank will hold Repayment Assistance Clinics (PBB RAC) at major cities and towns nationwide on Saturday and Sunday for six weeks, starting from 19 September 2020.

At the PBB RAC, Public Bank will provide advisory services and application assistance for customers who seek further help after the 6-month loan moratorium ends on 30 September 2020. Participation is through pre-registration. Customers can access to the Public Bank’s website for event details and the pre-registration procedures.

Public Bank Managing Director and Chief Executive Officer, Tan Sri Dato’ Sri      Tay Ah Lek said, “As part of its relief measures, Public Bank has developed repayment assistance packages which suit different customer’s financial conditions. The Bank has also been very proactive in engaging customers about the relief measures in place. In addition to the digital platform which enables customers to submit online application, we are organising the weekend PBB RAC as an additional channel for customers who need further assistance on application. This is also to provide more convenience to customers who are unable to visit our branches during weekdays.”

For customers who wish to submit online applications for rescheduling of their repayment plans, they may continue to apply through Public Bank’s digital platform via the Bank’s website at https://apply.pbebank.com/pbrnr.
 
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Public Islamic Bank “Go Green Campaign” Distinctively for Energy Efficient Vehicle (EEV)
For Immediate Release
 
3 September 2020
 
Public Islamic Bank “Go Green Campaign” Distinctively for Energy Efficient Vehicle (EEV)

Public Islamic Bank Berhad is pleased to participate in Value Based Intermediation (VBI), an initiative from Bank Negara Malaysia by launching our EEV campaign under AITAB Hire Purchase-i Financing. VBI aims to align Islamic finance business models towards realizing the objectives of Shariah to generate positive and sustainable impact to the economy, community and environment.
 
The promotion period of this Campaign is from 1 April 2020 to 31 December 2020. The exclusive financing rate is as low as 2.20% per annum with tenure up to 9 years. This campaign is designed to support local growth and usage of EEVs in Malaysia to reduce carbon emission into our environment. BE SMART, by saving fuel consumption with EEVs while GOING GREEN and saving the earth. This promotion is only applicable to selected new vehicle models.
 
Public Islamic Bank will also be launching a residential solar panel financing program with attractive financing rates to benefit our existing customers. This solar program is expected to produce positive sustainable effect to the environment and contribute towards cost savings for our customers.

For detailed information on this campaign, customers are welcomed to visit any of our Hire Purchase Centres, log on to PIBB website at www.publicislamicbank.com.my or call our toll-free number at 1-800-22-7777 during normal working hours. Terms and conditions apply.
 
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