Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  BURSA MALAYSIA  >  CIMB Group Holdings Bhd    CIMB   MYL1023OO000

CIMB GROUP HOLDINGS BHD (CIMB)
Mes dernières consult.
Most popular
Report
SummaryNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets

CIMB Group Holdings Bhd : Malaysia's CIMB Group To Buy 60% Stake In Philippines' Bank Of Commerce For $288.4 Million

share with twitter share with LinkedIn share with facebook
share via e-mail
0
05/08/2012 | 10:35am CET

Malaysian lender CIMB Group Holdings Bhd (1023.KU) Tuesday said it has signed an agreement to buy a 60% stake in privately held Bank of Commerce for MYR881 million ($288.4 million) in cash, a deal that will give the Malaysian bank a foothold in the fast-growing Philippine market.

It will buy the stake from San Miguel Corp. (SMC.PH), a diversified Philippine conglomerate and other Bank of Commerce shareholders, CIMB, Malaysia' second largest lender by asset size, said in a statement.

The stake purchase price represents PHP181.25 for every share held in Bank of Commerce, CIMB said.

"As an Asean universal bank, this extension into the Philippines is a very natural one. I believe we are entering this market at the right time, with the right deal and right partner," CIMB Group Chief Executive Nazir Razak said in the statement.

-By Ankur Relia; Dow Jones Newswires; 603-2026-1233; [email protected]

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on CIMB GROUP HOLDINGS BHD
11/22 CIMB BHD : MARC affirms AA+/MARC-1 corporate credit rating on CIMB Group
11/20 Bumper profits, government pressure to drive Asia's dividend bonanza
11/18 CIMB BHD : gets approval to open retail branch in Philippines
11/16DJCIMB BHD : Gets Approval to Open Branch in Philippines
11/13DJCIMB BHD : Malaysia's CIMB Says It Lost Backup Tapes Containing Customer Data
11/07 CIMB BHD : confirms all branches in Penang and Kedah in operation tomorrow
11/06 CIMB BHD : Group to complete Asean presence in Manila
10/16 CIMB BHD : Perez soars to CIMB Classic win
10/16DJCIMB BHD : Malaysia's Khazanah Plans to Sell Up to $134 Million of CIMB Shares
10/09 CIMB BHD : Matsuyama to join star-studded field at the CIMB Classic
More news
News from SeekingAlpha
2016 Saudis Take Bite Out Of McDonald's
2015 GLOBAL X SOUTHEAST ASIA ETF : Un-Emerging Market
2015 EWM : Does This Former Tiger Economy Merit A Closer Look?
Financials ( MYR)
Sales 2017 17 057 M
EBIT 2017 7 698 M
Net income 2017 4 479 M
Debt 2017 -
Yield 2017 3,89%
P/E ratio 2017 11,83
P/E ratio 2018 10,73
Capi. / Sales 2017 3,22x
Capi. / Sales 2018 3,07x
Capitalization 54 892 M
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 6,91  MYR
Spread / Average Target 16%
EPS Revisions
Managers
NameTitle
Zafrul bin Tengku Abdul Aziz Group Chief Executive Officer & Executive Director
Mohamed Nazir bin Abdul Razak Chairman
Shahnaz Farouque bin Jammal Ahmad Group Chief Financial Officer
Glenn Muhammad Surya Yusuf Independent Director
Watanan Petersik Independent Director