BIMB get new chairman today....hope BIMB will get more profit under the new management....

http://biz.thestar.com.my/news/story.asp?f...03&sec=business

Well it sounds too good to be true....mind you , this new chairman is no pushover. You know who he is?....he is this.........Former Bank Negara Malaysia Deputy Governor Datuk Zamani Abdul Ghani has been appointed Chairman of Bank Islam Malaysia Bhd, effective today.


Well, he must be damn good otherwise he wouldn't be the Bank Negara Malaysia Deputy Governor ....you think it's easy to be appointed as Bank Negara Malaysia Deputy Governor ?? Well, he is good for the whole of Malaysia & now with BIMB , he will inject fresh ideas into BIMB making it a top bank later perhaps? Rest assured that BIMB will be in good hands.



Well now we hope to see much improvement in BIMB share price now that it had this new chairman.


Cheers to all.

This post has been edited by monkeyking: Mar 1 2011, 08:11 PM

dog jones seems doing dead cat bounce, awaiting confirmation, if yes, then gonna cut loss bimb if no, then semunya ok

PROFILE


Dato' Zamani Abdul Ghani

Yang Berbahagia Dato’ Zamani Abdul Ghani
Chairman of Bank Islam Malaysia Berhad

Master’s degree in Management from the Asian Institute of Management, Manila,
the Philippines and a Bachelor degree in Economics (Analytical) from the University of Malaya, Kuala Lumpur.


Y.Bhg. Dato’ Zamani Abdul Ghani has been appointed as Chairman of Bank Islam effective 1 March 2011. He was, until 15 November 2010, a Deputy Governor of Bank Negara Malaysia and a member of its Board of Directors since 2004. He was Special Advisor in Bank Negara Malaysia (BNM) prior to his appointment to Bank Islam.

Dato’ Zamani Abdul Ghani oversaw then various departments in the Bank responsible for the regulation and supervision of financial institutions, units combating abuses in and of the financial system as well as the Bank’s corporate, personnel, property, security and related services. The financial services he oversaw include both conventional and Islamic banks, insurance entities and development financial institutions.

Dato’ Zamani started his career in the Bank early in 1971 and has served in a number of different capacities and departments. He was first attached with the Economics Department before being promoted as a Deputy Director in the Treasury Operations Department and later as Director of the Bank Regulation Department. He then headed the Bank’s representative offices in London and New York between 1986 and 1989 and was then appointed as the Director of both the Insurance Regulation and Insurance Inspection Departments. Dato’ Zamani was promoted as an Assistant Governor in 1995 and served as an Executive Director in the International Monetary Fund (IMF) between 1996 and 1998. He was also, between 1998 and 1999, the Director General of the Labuan Offshore Financial Services Authority (LOFSA), now known as the Labuan Financial Services Authority (LabuanFSA).

Dato’ Zamani was the Chairman of the Credit Guarantee Corporation and Danamodal Nasional Berhad, both since 2004 until recently. He was a Commissioner for the Securities Commission of Malaysia between 2000 and 2004 and a member of the Board of Directors, Lembaga Tabung Haji between 2004 and 2008. He represented Malaysia, between 2006 and 2010, as the Asia Chair in the Egmont Committee, the policy setting body of the Egmont Group of international financial intelligence units (FIUs).

He is a Fellow Member of the Malaysia Institute of Bankers. Dato’ Zamani was also involved with the International Centre for Education in Islamic Finance (INCEIF), and was a member of the Governing Council and the Executive Committee of INCEIF. He was a Trustee of the INCEIF Trust Fund, the IBBM Staff Training Fund and the International Centre for Leadership in Finance (ICLIF) Trust Fund.

Why are you so afraid & scared when DJ goes down? & what effect it had on BIMB, may I ask? ..... You a investor or hit-and-run kaki? The way you said it, you are throwing down & panicking makes no sense at all........remember this is a BANK & an ISLAMIC BANK too & it will not kaput or hangus!!!!



As I had said here so many times that the Government will not let Bank Islam down......just the big holy word ISLAM in BIMB is good enough for me to hold on even though I am now making a good profit of more than 10%......I am still holding since last year when I bought it at $1.20+ ...... I should be running away { if I were you } and making lots of money of about 5 figure [ at price now] but I am still holding as I am still thinking of mid or long term.



My friendly advice to you is this....if you want to buy & hold it for mid or long term , then do go in.....but if you are a hit-and-run kaki, my advice to you is please don't [ yes, stay away from buying BIMB] as you are hurting other members investment in BIMB as when you panic & sell as the slightest bad news, you are in fact bringing down the price of BIMB share & thus making other members here suffer a paper loss.....please don't be selfish & my advice for you is that you buy as an investment [investor] and not a hit-and-run kaki!!! ..........remember this, BIMB is not a goreng stock like all penny stocks, yes, this is a COMPLETE ISLAMIC BANK.



May I ask you this......DJ down & will this Bank Islam go bankrupt? ....yes, habis kaput, hangus ????? & now with a ex-Deputy Governor of Bank Negara as Chairman , will this bring some good effect on BIMB?......remember a Deputy Governor of Bank Negara is an expert on BANKING & good for the country Malaysia...so if he is good for the country, then, is he good for the bank BIMB???? ....use your common sense will you brother......yes, please don't simply panic & sell as the slightest downward movement of DJ.



Cheers brother...peace be with you.

This post has been edited by monkeyking: Mar 2 2011, 02:12 AM

buy low sell high ma!
ok la, since u done so much anal-lysis & brought everyone into tis sampan from 1.68 downwards
initial cut loss level is 1.25, so won't cut loss & may consider top up once price below 1.2

More good news regarding BIMB.



Bank Islam keen on Bangladesh market




Published: 2011/03/02



Bank Islam Malaysia Bhd (5258), the country's oldest Islamic lender, is likely to buy a stake in a bank in Bangladesh this year with a partner from the South Asian nation, sources said.


The lender, which may be the first from Malaysia to enter that market, is said to be keen to tap the Islamic banking potential in the Muslim-majority state.

Bangladesh is also the world's eighth most populous nation.

Managing director Datuk Zukri Samat, when asked about it in an interview last week, confirmed that the group is "exploring" opportunities in Bangladesh, but declined to elaborate.

"We are keen to go to that market (but) we have nothing firmed up yet. Though it's largely a poor country, even if we assume that 10 per cent of its 200 million-odd population is bankable ... it makes it quite an exciting area that we want to look at and explore," he told Business Times.
Sources said it is unclear if the bank would be able to go for a majority stake.

Zukri, however, has said that in the event of an acquisition in any market, it would be important for Bank Islam to have influence on the target's operations even if it does not have a controlling stake.

Bank Islam is keen on expanding in the South Asian region.

lt already has a 12 per cent stake in Sri Lanka's Amana Investments Ltd, an Islamic financial solutions provider that Zukri said has recently been awarded an Islamic banking licence. It is expected to lift its stake in Amana soon.

Bank Islam, which is controlled by BIMB Holdings Bhd, has long voiced intentions to expand abroad, particularly in Indonesia.

Indonesia "remains on our radar", Zukri said, adding that the bank would want to go for majority control in any acquisition there.

Business Times reported last year that the group was pursuing a stake in Indonesia's PT Bank Muamalat.

It is understood that talks with certain shareholders of that bank had been going well until recently.

"We used to be quite advanced on that, we thought we were on the right track, and then somebody put a spanner there and then we couldn't go ahead," is all Zukri would say on the matter.

He could not say whether an acquisition in that market could happen this year.

"Something will happen immediately by this year, but maybe not that country, some other country," he remarked.

Bank Islam also plans to expand its reach at home, with plans to increase the number of its branches to at least 120 by the year-end from 113 now.

The group recently turned in a record profit before zakat and tax of RM503.4 million for the 18-month period to December 31 last year. (It changed its financial year-end to December to coincide with that of its ultimate parent, Lembaga Tabung Haji.)

Zukri said the bank plans to undertake more investment banking activities, a relatively new area of focus for the group, in a bid to increase contribution from its non-fund based income to 20 per cent over the next three years from 11 per cent now.

On another matter, he said he did not know whether the bank's Middle Eastern shareholder, Dubai Group LLC, was still looking to sell its 30.5 per cent stake, as reported last year.

BIMB has a 51 per cent stake in Bank Islam, while Lembaga Tabung Haji holds 20.5 per cent.




Read more: Bank Islam keen on Bangladesh market http://www.btimes.com.my/Current_News/BTIM.../bimba/Article/




Now, friends & members, do you want to hold BIMB for mid or long term or you just do panic selling when BIMB share price is not moving up? My advice to you is to stay put!!


Cheers ......happy investing to all.

More on Bank Islam Malaysia.



Bank Islam Malaysia Affiliate, Amana Bank, Set to Start Operations Mid-year in Sri Lanka



Amana Investments Limited has received a full commercial banking licence to establish Amana Bank at the end of January 2011 from the Monetary Board of the Central Bank of Sri Lanka with the concurrence of the Minister of Finance. As such Amana Bank, in which Bank Islam Malaysia (BIMB) is the largest single shareholder with an equity stake of 20 per cent, becomes the first Islamic bank to operate in Sri Lanka.

According to Faizal Salieh, Managing Director and CEO of Amana Bank, the licence was granted under Sri Lanka’s Banking Act No. 30 of 1988 and as amended by Act No. 2 of 2005. Although the minimum required regulatory capital is LKR2.5 billion (about USD22 million), Amana Bank’s paid-up capital is LKR3.4 billion (about USD31 million). In addition to BIMB, the other main shareholders include the Islamic Development Bank (IDB) with a 10 percent equity stake; Albaraka Bank Bangladesh with a 15 percent equity stake and the local Akbar Bros with a 10 percent equity stake.

Faizal Salieh is confident that Amana Bank will start full banking operations in the middle of this year. “We are allowed to carry out all commercial banking activities, both domestic and offshore banking and Islamic banking products. Amana Bank will engage only in Shariah-compliant banking products and services. The licence specifically requires us to assist the Government of Sri Lanka to raise long term funds through Islamic finance products,” explained Salieh.

Amana Investments Limited is Sri Lanka’s premier Islamic financial group, which includes Amana Takaful PLC, which is listed on the Colombo Stock Exchange, and Amana Capital Limited. Syarikat Takaful Malaysia, a member of the Bank Islam Malaysia Group, is a major shareholder in and the technical adviser to Amana Takaful, which is the first Takaful operator in Sri Lanka.

Amana Investments traditionally has had close relations with the Malaysian Islamic finance sector over the years. Bank Islam Malaysia in fact has largely trained the current generation of Sri Lankan Islamic bankers. Ahmad Tajudin Abdul Rahman, former Managing Director and current CEO of Bank Islam Malaysia and Zukri Samat are members of the Board of Directors of Amana Bank. Bank Islam Malaysia’s strategy also fits in with the stated policy of Prime Minister Mohd Najib Abdul Razak, requiring Malaysian Islamic financial institutions and government-linked companies (GLCs), to also venture cross-border in search of better investment returns, and at the same time to promote the Islamic financial industry.

Amana Bank’s core business objectives, stressed Mr. Salieh, are “to offer customers a principled and attractive alternative to interest-based banking, infuse a new and innovative dimension to the country’s banking industry through our business model and add value to the economy. In this process we aim to be among the top ten banks in the country in terms of brand equity in 5 years.”

He estimates the potential market size for Islamic banking in Sri Lanka at USD1.5 billion. There is growing awareness even among the non-Islamic market segments. The other operators include two conventional banking Islamic windows, one of which is a wholly state-owned bank; two Islamic leasing windows by a state-owned leasing company, a private sector leasing company, two Islamic windows by private finance companies and a few small time fund management entities.

The support from the Sri Lankan Government and Central Bank has been essentially in response to Amana’s consistent lobbying efforts and continued dialogue with the regulators which resulted in some significant amendments being made to the Banking Law in 2005; the articulation by the Minister of Finance in the Government’s Budget proposals about the need to recognise Islamic finance for the purpose of tax neutrality in the country’s tax statutes in November 2010; and the issuance of the country’s first banking licence to Amana Bank. “The Government has recognised the global growth and value of Islamic finance and has expressed its desire to see the economic benefit from it. Yes, Islamic finance is now part of the financial inclusion policy,” he added.

Amana Bank is promoting Islamic banking as an alternative form of financing that should be accessible to anyone irrespective of creed or ethnicity. In fact it is part of its core objectives to take its products and services to as many people as possible across the country.

While the authorisation of Amana Bank is a major step in the right direction, Faizal Salieh agreed that there is still much work to be done on the regulatory framework especially to put into place appropriate instruments for liquidity management; tax neutrality measures for equivalent Islamic financial products including Ijarah (leasing) and sukuk. Here, countries such as Malaysia and its institutions including BNM and SC can play an influential guiding role.



SO DO YOU WANT IN INVEST IN BIMB OR NOT? OR ARE YOU A PANIC SELLER WHEN THE STOCK MARKET IS DOWN? FOR ME , IT'S A BUY BUY BUY......I LEAVE IT TO YOU TO USE YOUR OWN WISE JUDGMENT.

Going to average down soon and put this into closet as long term investment...

Well said brother justanovice, take it as a mid or long term investment & you will definately see it's growth.


Yes, this is the right attitude.....you should be positive about BIMB, remember this counter is really undervalue & with the very experienced banker, ex.deputy Governor of Bank Negara, at it's chairman, I am confident he will inject new ideas into BIMB. One more thing.......just ask you this question. He has so much experience in banking, so why doesn't the Government push him in the biggest Malaysia bank, Maybank , but into the smallest listed bank like BIMB? It's very simple.......this........maybe our present government wants BIMB go grow into a major & top Asia Islamic Bank. ....just my 2 cents worth.



Cheers brother justanovice.....happy investing.....much love too.

Wednesday March 2, 2011
Bank Islam appoints Zamani new chairman

PETALING JAYA: Bank Islam Malaysia Bhd has appointed former Bank Negara deputy governor Datuk Zamani Abdul Ghani chairman of the bank effective yesterday.

Zamani takes over from Datuk Mohd Bakke Salleh who resigned as chairman of the bank on July 15, last year.

Zamani started his career at the economics department of Bank Negara in 1971.

He rose through the ranks to the position of, among others, deputy director in the treasury operations department, director of the bank regulation department, director of the insurance regulation and inspection department and later as Bank Negara deputy governor.

He was special adviser in Bank Negara prior to his appointment at Bank Islam.

Bank Islam recently reported a record profit before zakat and tax of RM503.4mil for the 18-month ended Dec 31, 2010.

This translated into a 44% jump on an annualized basis over RM233.1mil as at end-June 2009.

Bank Islam reported its financial performance for the 18-month period following the change in its financial year-end to December to syncronise with Lembaga Tabung Haji, its parent company.

Managing director Datuk Seri Zukri Samat attributed the achievement of surpassing the half-a-billion-ringgit mark for the first time to strong financing growth that was matched by an impressive improvement in asset quality; growing contribution from non-fund based income and decline in cost-to-income ratio.

There was also continued increase in deposits through current and savings accounts.

He added that for the financial period ended Dec 31, 2010, the bank had proposed a dividend of 4.75% amounting to RM80.7mil.

More improvements for BIMB.



Bank Islam appoints two COOs


Published: 2011/03/03




Bank Islam Malaysia Bhd (Bank Islam) today announced the appoinment of two Chief Operating Officers, Datin Norasni Ayob and Jaafar Abu, effective March 1.

Norasni will oversee the bank's operations covering branch operations, channel strategy & development, cash & channel management and corporate communications.

Jaafar will be responsible for the business support division in the areas of credit administration, transaction services, trade operations and customer care.

The appointments are part of the bank's new growth and expansion strategy.


Bank Islam Managing Director Datuk Seri Zukri Samat said:"The new
organisation structure aims to further strengthen management focus and oversight".

He said this is expected to better synergise, enhance and improve the overall efficiency of both the bank's business and operational activities as well as support the various initiatives and projects currently on-going and in the pipeline.

Norasni obtained a Masters degree in Business Administration from
Nottingham Trent University, United Kingdom.

She has chalked up extensive experience in the banking sector, having served Public Bank Bhd for 28 years. Prior to joining Bank Islam she was Public Bank's Director of Deposit and Channel Management.

Jaafar, a Masters degree holder in Banking and Finance, joined Bank Islam in July 2009 as Chief Business Support Officer.

He brings with him 30 years of banking experience from renowned local, regional and international banks





So all is going well for BIMB.

MORE ON BIMB.



Zamani is the Chairman of Bank Islam

*
Effective March 1, 2011, Datuk Zamani Abdul Ghani, former BNM deputy governor is the new chairman of Bank Islam Berhad. Congratulation to him and Bank Islam. I do believe with his leadership, Bank Islam will become a respectable financial institution in this country.


*
Indeed, we need a professional personality with high degree of integrity plus experiences in finance, accounting and risk management to lead any financial institution in this country. This is a part of good corporate governance. Not all financial institutions in this country has a chance to have a credible chairman like Bank Islam.


* To me, the appointment of chairman in any financial institutions is the leading indicator to the good corporate governance which will determine the shareholder value of the institution in the future!


* Bank Islam recently reported a record profit before zakat and tax of RM503.4 million for the 18-month ended December 31, 2010. This translated into a 44% jump on an annualized basis over RM233.1million as at June, 2009.

To all members, here's the latest research report on BIMB.



Update Report
23 February 2011



To all members, do read this report & you decide whether you decide to buy BIMB or not?



Attached File(s)
 Update_Report___110223___BIMB.pdf ( 313.82k ) Number of downloads: 59

thanks for the report....

thanks for the report...

after reading the analysis, i feel that the quarterly profit was not good in 2010 compared to the quarterly profit in 2009.

it is the lowest capped bank in M'sia and has currently lowest P/E ratio.

it may be fair to raise its TP to RM1.80 judging from its low P/E ratio and P/B value.

other comments?

Thanks Monkeyking,

Beside BIMB, do you have any latest report on Affin plse.

Your Updates whether it is raining or sunshine is greatly appreciated.

BTW, Bolehland should grab the opportunities to expand KL International Islamic Hub aggressively in view of certain setbacks in the Arab World.

By putting more expertise in BIMB in a way is working towards that objective

Best Regards

This post has been edited by SKY 1809: Mar 5 2011, 10:06 AM

This is the latest report on Affin by CIMB...other than that I don't have...last report dated 11 January 2011, still new.



Affin is now at it's almost level, so you should pick it up. My last sold was 3.58 more than 1 month ago....TP 4.04



Cheers brother SKY.....you take good care too...much love.


Attached File(s)
 cimb_affin.pdf ( 225.88k ) Number of downloads: 19

Thanks