(BIMB closing stock price yesterday (8.5.2012) was RM 2.69)
Bank Islam is revisiting plans for a potential acquisition of a stake in PT Bank Muamalat in Indonesia, according to its parent company.
"We are still collecting data and nothing is concrete yet.
"We like Indonesia because the market is quite robust, and we strongly believe it has strong market penetration because they (Indonesia) already have their infrastructure ready, compared to China," BIMB Holdings Bhd group managing director and chief executive officer Johan Abdullah said after the group's annual general meeting yesterday.
Last year, Bank Islam said it was giving up its two-year pursuit of a stake in Bank Muamalat because it was "too pricey".
In February, Business Times reported that Bank Islam was in early talks with the Indonesian bank for a stake.
According to the report, Bank Muamalat's Middle Eastern shareholders, which hold just over 75 per cent of the bank, are looking to sell some of its holdings.
Johan also said that a potential listing of Bank Islam is being considered to unlock the value in the group.
"We have not decided. We are still exploring at this current moment," he said.
Johan said Bank Islam assuming the listing of BIMB is one of many options it was considering.
BIMB owns a 51 per cent stake in Bank Islam.
In its presentation to shareholders yesterday, the group said consumer banking will continue to be key drivers in 2012, with a strategic thrust in selected household segments.
The corporate banking segment will continue to pursue syndicated financing opportunities to drive asset growth, while the investment banking division will seek to be involved in more sukuk and corporate finance advisory mandates to enhance non-fund-based income distribution.
Source: www.btimes.com.my
0 comments:
Post a Comment