SINGAPORE - MediaOutReach - 17 October 2019 - CIMBBank Berhad Singapore Branch ("CIMB") and iTrust have successfully completedtheir first structured trade financing transaction on iTrust's Blockchain and Internetof Things (IoT) platform.

The transaction involves thefinancing of dairy products imported into China and is expected to generate transactionflows of up to US$100 million a year. iTrust provides secured real-timevisibility of the cargo in transit and in the warehouse using blockchain-based IoT.All data and documents from the transaction are blockchained in a distributedledger for provenance and immutability. The technology provides allstakeholders with a secured operational dimension of the transaction, which wasabsent in the past.

With iTrust's security,transparency and visibility for the documents and cargo, CIMB hopes to mitigaterisks associated with commodity trade financing and facilitate credit extensionfor their customers.

Said Mr. Mak Lye Mun, CEO ofCIMB Bank Berhad, Singapore Branch: "Given the rapid technology shifts in themarket today, we will continue to focus on digitalization and customerexperience to transform the way we finance our corporate customers, thus addingvalue to our services. This blockchain trade financing with iTrust will presentan opportunity for CIMB Singapore to support our customers more efficiently andcost-effectively. It mitigates fraud risk, and alerts us of any unauthorizedmovement of the financed cargo.  We arelooking forward to working closely with iTrust on this innovative way of tradefinancing in other markets as well."

Mr. Lim Chee Kean, CEO and co-founderof iTrust added, "Digitalization is gradually transforming financing. WithiTrust, we have used blockchain-based IoT to provide insight of the physicalworld into a blockchain digital platform. We believe that the day will comewhereby all lenders and borrowers would demand to have a secured real-time viewof their cargo under financing on a secure and immutable blockchain platformlike iTrust."

About iTrust:

iTrust is a trade financingplatform that harnesses the power of Blockchain, and blockchain-based IoTtechnologies to improve supply chain visibility and risk management. iTrust isa joint venture between Ascent Solution Pte Ltd, an IoT Solutions company, and1Citadel Pte Ltd, a Blockchain technologies company. For more information,please visit iTrustTrading.com.

About CIMB Group:

CIMB Group is one ofASEAN's leading universal banking groups and is Malaysia's second largestfinancial services provider, by assets. It offers consumer banking, commercialbanking, investment banking, Islamic banking and asset management products andservices. Headquartered in Kuala Lumpur, the Group is present in all 10 ASEANnations (Malaysia, Indonesia, Singapore, Thailand, Cambodia, Brunei, Vietnam,Myanmar, Laos and Philippines). Beyond ASEAN, the Group has market presence inChina, Hong Kong, India, Sri Lanka, Korea, the US and UK.

CIMB Group has the mostextensive retail branch network in ASEAN approximately of 740 branches as at 30June 2019. CIMB Group's investment banking arm is also one of the largest AsiaPacific-based investment banks, offering amongst the most comprehensiveresearch coverage around of 600 stocks in the region.

CIMB Group operates its businessthrough three main brand entities, CIMB Bank, CIMB Investment Bank and CIMBIslamic. CIMB Group is also the 92.5% shareholder of Bank CIMB Niaga inIndonesia, and 94.8% shareholder of CIMB Thai in Thailand.

CIMB Group is listed onBursa Malaysia via CIMB Group Holdings Berhad. It had a market capitalisationof approximately RM52.3 billion as at 30 June 2019. The Group has around 36,000employees located in 16 countries.