Some old news I just dig up about BIMB.......well, this year there will definately more profit from BIMB Foreign Currency Clearing Agency Sdn Bhd (BIFCA), a subsidiary of Bank Islam Malaysia Bhd.



KUALA LUMPUR, Dec 21 (Bernama)



KUALA LUMPUR, Dec 21 (Bernama) -- BIMB Foreign Currency Clearing Agency Sdn Bhd (BIFCA), a subsidiary of Bank Islam Malaysia Bhd, is projecting a business growth of 10 to 20 per cent next year.

Its Chief Executive Officer, Fazri Mohd Zain, said the projection was based on the continued expansion anticipated for the tourism sector next year.

"I think the government has done a good job, having launched various tourism related programmes and I think the business will move along with the government's projects.

"We rely on the government's tourism projects. If there are more tourism programmes in Malaysia, our business will expand," he told reporters here following a ceremony to handover BIFCA's business zakat contribution here Tuesday.

On the zakat, Fazri hoped the government would be able to provide additional incentives to Islamic companies that contribute zakat, such as lower tax rates in the future.

"The total amount of zakat and taxes that we pay currently amounts to more or less 40 per cent of our total annual income.

"If the government can help us, it will be something beneficial to the Islamic companies which are paying zakat," he added.

At the event Tuesday, BIFCA handed over zakat amounting to more than RM800,000 to several orphanages, religious schools, mosques as well as surau and several non government organisations.

--BERNAMA



Well, more income for BIMB to be added into the financial reports in 2011.



Well, as I said earlier, BIMB is growing.



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

The below news wikll definately be welcome by all BIMB share holders.



Bank Islam Likely To Buy Stake In Bangladesh Bank - Report



Wednesday, Mar 02, 2011

KUALA LUMPUR (Dow Jones)--Bank Islam Malaysia Bhd., a unit of BIMB Holdings Bhd., is likely to buy a stake in a bank in Bangladesh this year with a partner from the South Asian nation, The New Straits Times daily reported Wednesday.

"We are keen to go to that market but we have nothing firmed up," the report quoted Bank Islam Managing Director Zukri Samat as saying. It didn't give other details.

Bank Islam is Malaysia's oldest Islamic lender. Apart from its Malaysian operations, it also has a 12% stake in Sri Lanka's Amana Investments, an Islamic financial solutions provider.


Attached File(s)
 Wednesday.pdf ( 137.25k ) Number of downloads: 16

Easier stake rule to boost smaller banks

A Higher foreign shareholding level for Malaysia's commercial banks would benefit smaller lenders in need of capital and expertise.


This could be welcomed by banks like Alliance Financial Group Bhd and Affin Holdings Bhd, analysts said.

"This will in turn place them in a stronger position to compete against the bigger banks and also the increased number of locally incorporated foreign banks in Malaysia.

"A longer term investment horizon with the higher equity participation may also encourage the smaller banks to invest in expanding their branch networks in the smaller rural towns," said OSK Research in a report yesterday.

Yesterday, Prime Minister Datuk Seri Najib Razak told Reuters he was open to Australia & New Zealand Banking Group raising its stake in AMMB Holdings Bhd to 49 per cent from 30 per cent now.

Currently, the limit for foreigners is 30 per cent.

"This sends a clear message to foreign investors, and it is a good message. It addresses the calls by foreign investors of further liberalisation in the banking sector.

"This is certainly significant news, and I believe it is the first of many steps to come," said Jupiter Securities head of research Pong Teng Siew when contacted.

OSK believes a higher shareholding level will help improve the competitiveness and vibrancy of the domestic financial sector, compared with issuing new licences.

"New foreign banks are unlikely to invest heavily in infrastructure or develop the rural banking landscape in small towns," it said.

It is also not too concerned that stiffer competition would pressure local banks' domestic margins.

"We view it as a necessary measure to encourage our domestic banks to place greater efforts and commitment in expanding their regional presence, which would transform our local banks into truly regional banking heavyweights," said OSK, which maintained a "buy" call on the sector, with CIMB, Maybank, and RHB Capital as its top picks.





Read more: Easier stake rule to boost smaller banks http://www.btimes.com.my/Current_News/BTIM.../#ixzz1FjCJBrkq

Ganbatte! BIMonkeykingBerhad

does this stock pay out dividens like other bank counters like pbb and etc?

if yes how is the historical dividens looks like?

sorry im still bit new to stocks so pardon me if im asking a silly ques

this stock didn't give much dividends before,(about 1-2c) but 2 weeks ago it announceed 4.75c divvy which date has not been fixed yet.
I think their management is confident of their future so able to declare higher divvy.

based on the news u posted its for 18 months?

hmmm...meaning its even lower than fd...

This post has been edited by bearbear: Mar 5 2011, 10:46 PM

Missed the chance to grab more when it was lower than my buy price 1.37... I believe this counter will prove to be a good buy.

Yes, brother justanovice, just you wait and see & I am sure it will make your investment in this BIMB counter worthwhile. Do you remember those who buy quite sometime back on CIMB, AMMB & other banks shares when they are just starting......what had become of these shares now, yes, it's share price leaps to such heights now.....the same can be said for BIMB. Yes, buy BIMB shares when it's trying to improve itself & not when it's price is high......remembers this.....buy low & sell high & not buy high & sell low when there is some bad world news.



Now may I ask you which bank shares is so dirt cheap when it's making tons of money at 26 cents eps [ earnings per share] ? & think of it's potential in becoming the top Asian Islamic Bank!! Yes, BIMB is looking for overseas banking investment....yes, it's spreading it's wing overseas. Now, it's Sri Lanka, next Bangladesh & soon to be Bank Maalumat Indonesia........so what do you think of it's potential??? & which country is next on it's target? Yes, the government had just a few days ago push 3 highly qualified & experienced bankers as Chairman & COOs too to BIMB...so what do you think of this recent movement & development?



Cheers brother justanovice & happy investment....much love.

Hi bro monkeyking, thx to all ur news and updates here that made me believe on the future of this counter

Hi guys, any chance the expected OPR revision this March would impact the share price? I'm keeping my eye on Affin and BIMB so far....

Thanks to all the Sifus here, just enter at 1.39, though a bit higher, but I believe I can see some result in few month:)

Welcome to the BIMB Huat Huat Club.......hope you make good money out of this counter.



Remember the latest research report I posted is that the TP is 1.80 but I believe that it can go higher than that. Well 3 very experienced bankers are being push to BIMB which I believed is to bring BIMB to greater heights.....well I supposed it's part of Najib's plan to make Malaysia the top Asia Islamic Center.



Cheers.

i thought he might help his family at CIMB

Can't agree more on this one. Anything can fail, but not this one I suppose, for him

among all the shares mentioned here, I choose tis as a case study of goodie funnymental stock performance vis a vis the indices
if dog jones below 12,000 then the fun begins

well then.. to know how & why graph + teknikal analysis is able to guess the indices with share price movement & timing switch to cash
it is actually COMMON SENSE & no mental stress involve. IF u know how to use graph & TA if u dunno how to use, then nvm la

for those who bought at 1.65, 10% cut loss is 1.48, once potong, can just sit & wait till selling subside, which the 1st round was abt 1.3 to 1.4
those buy at 1.5, 10% cut loss is 1.35, since tat is near support level of 1.3, it does not make sense to cut loss at tat price

can it go below 1.2? once indices giv confirmation, then can top up. till then I still eating popcorn & enjoy the delicious ranggup satay arnab
u must use graph to know when to buy-back on rebound (ie. support level/ lowest or highest price) & funnymetal by itself cannot give overall view

all bros.. any idea on the dividend payout date? although someone mentioned it's a low dividend counter, still would like to know.
thnks

It's a proposal now of 4.75 cents dividend......so please wait for the next general meeting which is scheduled in April & by that time I am sure they will announce something good for all.



Cheers brother justanovice....you take good care too....good luck & much love too.

bro Monkeyking,

been observing your posting, very colourful and attractive. Bimb now trading at 1.34 and i'm planning to get some.
the GM is it in the early or end April? thanks.

Brother Damachai3388, I actually don't know that date of the GM but if I do find out in any way, I will inform all here.



BTW, BIMB price today is still at 1.33....a definately good buy considering it's NTA is 1.33 & EPS share is 22 cents.



Cheers brother Damachai3388, you stay healthy & happy always.