The meeting decided to register the company with a nominal (authorised) capital of $4 million. At that time the issued capital of $2 million had been over-subscribed. The temporary premises of the bank was at No. 61 Kling Street and Seow Poh-Leng was pro. tem. Secretary. The bank commenced business at temporary premises at No. 31 Market Street on 2 December 1912, with Lim CHoon-Guan as Chairman, Lim Peng-Siang as both Deputy Chairman and Managing Director, Seow Eng-Tin as Manager and Seow Poh-Leng continuing as pro. tem. Secretary. By this time the Board of Directors comprised, besides Choon-Guan, Peng-Siang, and Eng-Tin, Tan Jiak-Kim, Liao Chia-Heng, Tan Chay-Yan, Yeo Cheng-Hai, Dr. Lim Boon Keng, Teo Soon-Sian, Dr. S. C. Yin, Tau Siau-Cheng, Seow Eng-Tin, and Cheoh Cheng-Kee.