HSBS Asia Holdings (HAHO) is deemed to have an interest in UMB for the following reasons-
1. HSBS International Trustee Limited (HKIT) holds the shares of UMB in its capacity as Trustee of trusts.
2. HSBC International Trustee (Holdings) Pte. Ltd. (HSIT) owns the entire issued capital of HKIT.
3. The Hongkong and Shanghai Banking Corporation Limited (HBAP) owns the entire issued capital of HSIT.
4. HAHO owns the entire issued capital of HBAP.