CIMB Group Holdings Bhd, which received shareholders' nod to buy up to a 19.67% stake in Indonesia's PT Bank CIMB Niaga TBK, will step up to expand its services in Indonesia.
The group planned to improve various segments of its business in Indonesia. Initiatives include expanding its microfinance, autofinance, credit card, priority banking, investment banking and corporate banking businesses under CIMB Niaga.
They are in the process of negotiation with the relevant authorities on how to get listed in Jakarta.
At the EGM, its shareholders approved the group's proposal to acquire up to a 19.67% stake in PT Bank CIMB Niaga TBK from Khazanah Nasional Bhd for RM 1.94 billion.
The approved transaction would increase the group's ownership of CIMB Niaga from 78% to potentially 98%, while removing Khazanah's direct stake in the Indonesian subsidiary.
This deal gives CIMB more exposure to Indonesia, which is arguably the most attractive banking market in ASEAN.
The group expected an IPO launch in Bangkok by the end of 2010.
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只因月亮在天上，
吾道不独，
只因青草伴随。
吾尔独享，
清伶乖巧的风，
吾尔独视，
浩瀚宇宙的星。
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那风是青草的友，
问一问，
家在何方，
友在何处。
脚一动，心一晃，
本就不必尋问，
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路上皆是友。
37 minutes ago
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