CIMB Group Holdings Berhad

[Thriftville]

CIMB Group Holdings Berhad, formerly known as Bumiputra-Commerce Holdings Berhad, is engaged in investment holding, management company, property management and provision of consultancy services. The Company operates in six segments: Consumer Banking, which includes retail banking, business banking, direct banking and cards and CIMB express; Corporate and Investment Banking, which include investment banking, corporate finance, corporate banking, international banking and transactional services, equity capital markets, retail and institutional equities, equity derivatives, and equity investment and trading; Treasury and Investment, which includes foreign exchange, money market, derivatives and trading of capital market instruments; Asset Management and Insurance, which includes fund management, unit trust, private equity and venture capital activities; Foreign Banking Operations, and Support and others, which includes investment holding, property management and other related services.

[etan]

Heard that CIMB is owned by a close relative of the current M'sian PM. It's in aggressive expansion mode.

[alexleong]

Heard that CIMB is owned by a close relative of the current M'sian PM. It's in aggressive expansion mode.

to be exact, CIMB is owned by M'sia PM younger brother.

[KopiKat]

Not vested but happened to read this from news yesterday,

CIMB Set to Take on Goldman With ‘Audacious’ RBS Purchase

CIMB Group Holdings Bhd. (CIMB), Southeast Asia’s top-ranked investment bank over the past three years, is taking aim at a bigger market following its acquisition of some of Royal Bank of Scotland Group Plc (RBS)’s operations in Asia.

The Malaysian company can now compete with rivals including Goldman Sachs Group Inc. and JPMorgan Chase & Co. for Asia- Pacific deals, Chief Executive Officer Nazir Razak said in an interview in Kuala Lumpur. CIMB agreed in April to buy most of Edinburgh-based RBS’s investment banking and cash equities businesses in the region for $142 million.

The acquisition, which initially seemed to be an “audacious” idea, will complete the bank’s operations and help CIMB boost market capitalization to more than 100 billion ringgit ($31 billion) by 2015, Nazir said. That’s about 75 percent more than its current value. The Kuala Lumpur-based lender also targets becoming one of the top three Southeast Asian banks by assets and return on equity.

“CIMB today is complete for the endgame in 2015,” Nazir, 45, said on June 20. “Building up the investment banking platform in Asia Pacific ex-Asean in small pieces was painful and quite expensive because you have to hire people gradually and people cannot see how serious you really are. With this position, we instantly get scale.”

Acquisition Spree

Their agreement allows CIMB, Malaysia’s second-largest bank by assets and market value, to absorb or buy RBS’s operations in markets including Australia, Hong Kong, Indonesia and Thailand, according to a presentation posted on its website. Matthew Kirkby, head of global banking at RBS for Asia-Pacific, is among 331 employees who will transfer.

“We find our relationship with CIMB a very good match,” Nicholas Rowe, head of investment banking at RBS in Australia, said in an interview in Kuala Lumpur on June 14. “With the Asian century facing us, the actual growth in the markets, M&A business and capital flows is more going to be focused on the eastern side of the chart with Asia, particularly Asean.”

Nazir, the son of former Malaysian Prime Minister Abdul Razak Hussein and a younger brother of current Prime Minister Najib Razak, joined the corporate advisory division of CIMB Investment Bank Bhd. in 1989. After the firm’s securities and commercial lending operations were combined, he became CEO of the group in November 2006.

Since then, CIMB has spent about $2.32 billion on 19 acquisitions, including the purchase announced last month of a 60 percent stake in the Philippines’s Bank of Commerce for 12.2 billion pesos ($287 million).

‘Strong Leadership’

“We’re excited about the group’s recent acquisitions,” said Cheah King Yoong, an analyst at Alliance Financial Group Bhd. (AFG) in Kuala Lumpur. “CIMB has transformed from a niche domestic bank to a reputable universal bank in the region under Nazir’s strong leadership and his competent management team.”

CIMB fell 0.5 percent to 7.54 ringgit as of 2:45 p.m. in Kuala Lumpur trading today. It has risen 1.3 percent this year, under-performing a 4.9 percent gain in the benchmark FTSE Bursa Malaysia KLCI index.

The Malaysian lender, set up in 1965 by the government as Bank Bumiputra Malaysia Bhd., is ranked first in takeover advisory and in managing equity and bonds sales in Southeast Asia over the three years to June 21, according to data compiled by Bloomberg.

In underwriting capital-market deals for the region, CIMB beat out DBS Group Holdings Ltd. and HSBC Holdings Plc, while RBS trailed at No. 35, the data show. For takeovers, it trumped Morgan Stanley, Credit Suisse Group AG and Goldman Sachs, with RBS lagging behind at No. 19.

Asian Ranking

Still, as an adviser on mergers and acquisitions for companies across the Asia-Pacific region over the same period, CIMB was No. 35, while Goldman Sachs, Morgan Stanley and JPMorgan, all based in New York, took the top three spots. RBS ranked No. 17, the data show.

Asian lenders will gain more prominence as global economic power shifts to the region, and local banks should seize the opportunity in capturing deal flow, Nazir said.

“This is not going to be an Asian century unless Asians are willing to step up,” he said last week. “In many ways, this is how we are putting our money where our mouth is.”

The chief executive is already tapping his firm’s regional network to win mandates.

[CityFarmer]

CIMB seeks to raise up to US$887m in share offer: term sheet

[HONG KONG] Malaysian lender CIMB Group Holdings Bhd is seeking to raise US$869 million to US$887 million by selling new shares, according to a term sheet seen by Reuters on Monday.

CIMB is selling 400 million new shares for 7.10 ringgit to 7.25 ringgit each in the base offer, representing an up to 2.7 per cent discount to CIMB stock's Friday close, the term sheet showed. The underwriters have the option to raise the offer by up to US$222 million to meet additional demand.

CIMB, Southeast Asia's fifth-largest lender by assets, will use the proceeds to fund growth in subsidiaries, reduce debt and for working capital needs.

Bank of America, CIMB Investment Bank and Credit Suisse are joint book runners.

Ref: Reuters, Business Times Breaking News

[CityFarmer]

Malaysia’s CIMB eyes banking licences in Vietnam, Myanmar

BANGKOK – CIMB Group Holdings, Malaysia’s second-largest lender, plans to seek banking licences in Vietnam and Myanmar as part of its drive to expand in fast-growing Southeast Asian markets.

CIMB, Southeast Asia’s fifth-largest bank by assets, is also keen to open a banking business in the Philippines and is studying regulations that allow foreign banks to take full control of local lenders, CIMB Group Chief Executive Nazir Razak told reporters on Wednesday.

He was in Bangkok to announce that CIMB-Principal Asset Management has signed a deal to acquire Finansa Asset Management in Thailand from Finansa for 225 million baht (S$8.8 million).

CIMB aims to open branches in all Southeast Asian countries by 2015 when a planned partial integration of the ASEAN economies will be completed, he said.

CIMB, which is seeking to acquire two lenders to create Malaysia’s largest bank, has been the most acquisitive of the country’s banks.
...
http://www.todayonline.com/business/mala...am-myanmar

[greengiraffe]

http://www.businesstimes.com.sg/banking-...erger-vote

EPF fails to get waiver on mega-merger vote
Bursa sticks by rule book, denies pension fund's waiver request, given that there is a clear-cut conflict of interest

By
Anita Gabrielanitag@sph.com.sg@AnitaGabrielBT
BT_20141022_AGEPF22_1331370.jpg STICKING BY THE RULE BOOK: Bursa's keenly awaited and much-debated decision is a major blow for the pension fund which had lobbied hard on the premise that it should not be denied its fundamental right to vote. PHOTO: BLOOMBERG
22 Oct5:50 AM
Singapore

MALAYSIA'S securities regulator stuck by the rule book on Tuesday and rejected the Employees Provident Fund's (EPF) plea to be allowed to cast its vote on the merger of CIMB Group, RHB Capital and Malaysia Building Society Bhd (MBSB), given the clear-cut conflict of interest.

[CityFarmer]

Oil price make a different in "the industry outlook"...

CIMB and RHB said planning to scrap biggest Malaysian merger

SINGAPORE (Jan 13): CIMB Group Holdings and RHB Capital are planning to scrap the three-way merger that would have created Malaysia’s largest banking group, said people with knowledge of the matter.

Terms for the deal, announced in October, no longer make sense as the industry outlook worsens, said the people, who asked not to be named because deliberations are private.

An announcement could come as soon as this week, one person said. The proposed combination also included the acquisition of smaller lender Malaysia Building Society. (MBS)
...
http://www.theedgemarkets.com/sg/article...ian-merger

[pianist]

wonder which was e corporate adviser, will the bank claw back on them