thinking of enter this counter on mondau . hehe. 1.58

Something to read....



KUALA LUMPUR: Amana Bank Ltd, Sri Lanka's first Islamic commercial bank, in which Bank Islam Malaysia Bhd is the biggest shareholder, will start operations in the second half of this year and is expected to be listed in two years.

"It will be listed in Sri Lanka," its managing director, Faizal Salieh, told reporters here yesterday after formalising the entry of Bank Islam as a shareholder.

Bank Islam spent RM22.6 million to take up a 20 per cent stake in Amana Bank. It bought the stake by subscribing to new shares for RM21.3 million, and swapping its existing holdings in Amana Investments Ltd (AIL) for shares in Amana Bank.

AIL is the Islamic financial institution that is being converted to become Amana Bank.

Other big shareholders of the bank include Bangladesh's AB Bank Ltd (15 per cent), Islamic Development Bank and a Sri Lankan tea company (10 per cent each). The rest is held by retail shareholders

Faizal expects the bank, which will start off with 14 existing AIL branches, to break even in one to two years. There will be no less than 60 to 65 branches in five years' time, he said.

"We essentially want to be a retail bank, with a focus on consumer and business banking," he said.

The bank is starting off with a capital base of some US$31 million (RM93.62 million), which is comfortably above the minimum required level of US$21 million (RM63.42 million).

Bank Islam will also be the key technical partner of Amana Bank, providing assistance in consumer banking, treasury, business banking and information technology.

The Bank Amana stake is Bank Islam's first major acquisition abroad. It is also looking at opportunities in Indonesia and Bangladesh, managing director Datuk Seri Zukri Samat said.

Sri Lanka allows foreign investors to hold only up to 15 per cent of a local bank, and in certain exceptions - like in the case of Bank Islam - up to 20 per cent.

Bank Islam will, however, have to bring down its stake to 15 per cent after 10 years, Faizal said.

Bank Islam will have two members on Bank Amana's board.

Read more: Bank Islam unit in Sri Lanka to start ops in H2 http://www.btimes.com.my/Current_News/BTIM.../#ixzz1Iy0ri5uc




Cheers to all.

joining u guys at 1.56..^ ^

I am looking forward to top up again, for long term. Can't imagine when the price reach RM4-5

In 2 years time Sure can!

If 2 years hit rm4-5, i will take it anytime!!

By the way i have added some on fri, to bring my ABP to 1.4 .. Still look healthy

Have confidence in it still!!

Not bad for a $1.60 investment to become $5 in 2 years time......might be even more than this number too, a great possibility. Look at the way CIMB goes when there is so much support from the government. Perhaps BIMB could possible goes this way too with the strong government support to make BIMB the top Asian Islamic Bank. Think of your BIMB investment in 5 years time...what price would it arrive at?



Let's say you put aside some money [$50k] in BIMB instead of Unit Trust Funds as your 2nd EPF......in 6 years time what would become of it. To make CIMB as a comparison, price of CIMB was about $3+ at 2004...now that CIMB investment is worth more than $20++ inclusive of the bonus, dividend, etc. Perhaps BIMB could be better of than CIMB now that Islamic Banking is given prominence in this banking world.


Most of you forumers are still young & instead of investing 100K in a car, why not do the same thing for your future by investing the same amount in BIMB? Perhaps, say in 10 years time, with your investment in BIMB, you could possibly become a millionaire. Yes, investing 100k in a car will become scrap iron in 10 years time but in BIMB , it will become a gold mine.



Cheers to all......good luck to your BIMB investment.

This post has been edited by monkeyking: Apr 9 2011, 07:28 PM

This is convincing!

By the trend of banking institute appreciate in Malaysia.. Should not be a problem..

This post has been edited by Bonescythe: Apr 10 2011, 08:07 PM

Another bank just struggled like BIMB at rm 1.50 level, now promoted to rm 2.1 in very low profile manner.

planing to join BIMB share 2moro.Lets hope can get a good price 2moro^ ^

If you are for long term purposes.. If will never be wrong to enter at anytime.
Just top up your share from time to time, especially during low price season to average down, and to increase stake in the bank

I cannot fully guarantee, but at least 99.5% (0.5% being Malaysia got nuked by other countries) that you will reap what you sow here (For a long term run).

Back then when Public Bank is just a penny stock.. Now what had it become? BIMB is for the new young generation who had missed out at those grown up banking institution.

Btw, Affin Bank is not bad either

banking stocks are good for medium to long term holdings.

BIMB is still considered cheap in term of P/E and NTA compared to its peers.

hopefully our economy will continue to grow, and our holdings as well =)

cheers

i also think that long term investment is surely worth for the price.u know lah malaysia government always help them to make money one.

Yea lar.. How also will make money.
Best example is = EON Bank.. Haha.. This bank, management already sark to the core, but still standing..

Worst come to worst.. If the bank cannot perform, then we will see big eating small..
And when big eating small happen, the small's share price will go to space again.. In this context, BIMB is small.. So.. 5 year down the road.. If they are eating or got eaten... Still is good news for current investor. If not, 5 year down the road, they will still be expanding..

when is bimb declare the dividend? wat is the last dividend price?

I presume the proposed dividend of 4.76 cents will be announced soon, though I don't know when. Last dividend given was on 17/09/2010.....Interim Dividend of 1.5% less income tax of 25%. At the time BIMB price was hovering around $1.20+ , that's when yours truly pick up a good number of BIMB shares.



Cheers brother Lover.......much love & good luck to your investment in BIMB.

Yes, still keeping my Affin shares.....yes, Affin Bank is growing & growing.

Join in the BIMB Huat Huat Club.



See it grows in 1 to 2 years time.



Make a flash file [swf] for all all viewing wi view it with your Internet Browser like IE, Firefox, Google Chrome, etc....music embeded , size 4.5mb ...FLY ROBIN FLY substitute the words it with FLY BIMB FLY please.



Download here please...


http://www.mediafire.com/?jjfhdcwj83jcnt7



or else download 2 smaller flash files here [without music]....size 43KB ONLY.....view with your Internet Browsers as well.


Attached File(s)
 BIMB.zip ( 43.15k ) Number of downloads: 3

im just wondering monkeyking. how many counters do you keep at one particular time? im thinking of investing in a few other counters but people say its not wise to keep more than 5....or is it?