BIMB Hold­ings con­firms group-wide re­vamp plan

New Straits Times - - Business -

KUALA LUMPUR: BIMB Hold­ings Bhd has con­firmed a group-wide re­struc­tur­ing plan which may in­clude a stake sale in its 60 per cent-owned in­sur­ance unit Syarikat Taka­ful Malaysia Bhd and BIMB Se­cu­ri­ties Sdn Bhd.

The plan to sell a stake in Syarikat Taka­ful was a strate­gic direc­tion, said group chief ex­ec­u­tive of­fi­cer Datuk Seri Zukri Sa­mat af­ter the com­pany’s share­hold­ers meet­ing, here, yes­ter­day.

Asked if BIMB Hold­ings has submitted a pro­posal to Bank Ne­gara Malaysia on the ex­er­cise, he said: “No, we’re not talk­ing to any spe­cific party at the mo­ment.”

Zukri said BIMB Hold­ings, whose par­ent is pil­grim fund Lem­baga Tabung Haji, was cur­rently re­view­ing its struc­ture to en­sure that the group was in reg­u­la­tory com­pli­ance and con­tin­ued to cre­ate share­hold­ers’ value.

“At this junc­ture, we have not come to that stage (de­cid­ing on who to sell to) yet. We’re still re­view­ing the group-wide struc­ture of Bank Is­lam, the taka­ful busi­ness as well as BIMB Se­cu­ri­ties,” he said.

“Last year, we saw some im­prove­ment in BIMB Se­cu­ri­ties’ con­tri­bu­tion to the group. BIMB Hold­ings fully owns BIMB Se­cu­ri­ties. Now, if there is a strate­gic in­vestor in­ter­ested to take a stake, it is some­thing that we can con­sider,” he added.

On the suc­ces­sion plan for the lead­er­ship at BIMB Hold­ings, Zukri said a list of short­listed can­di­dates had been submitted to the au­thor­i­ties for ap­proval.

“The BIMB board of di­rec­tors can’t re­veal the short­listed can­di­dates at this junc­ture, but cer­tainly my suc­ces­sor will be an­nounced be­cause my ten­ure ends on June 8 this year.

“I’m not plan­ning to stay, that I can con­firm,” he said. Ooi Tee Ching

BIMB Hold­ings Bhd group CEO Datuk Seri Zukri Sa­mat

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