BIMB Holdings confirms group-wide revamp plan
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