ya.old time de but use so long until very difficult to change liau.
Actually the dividend is onli a small amount unless if u really own a lot of share.

this guy will be lingering around 1.6++ b4 another break out

Ya, despite the rise in profit, it didn't much up also.

BIMB board says 'no' to merger

Kuala Lumpur: BIMB Holdings Bhd is no longer keen to pursue a merger between its banking subsidiary, Bank Islam Malaysia Bhd, and smaller rival Bank Muamalat Malaysia Bhd.



"After careful consideration of Bank Islam's current strategic plans and positioning, the company is unable to consider a merger exercise at this point of time," BIMB said in a stock exchange statement late yesterday.

BIMB, whose directors discussed the matter at a board meeting earlier that day, did not provide a reason.

It is believed, however, that it lost interest after a closer study of Bank Muamalat showed there were not much synergies to be derived from a merger.

"There were not much synergies to be found between the two," a source close to the matter told Business Times (BT).


Conglomerate DRB-HICOM Bhd, controlled by tycoon Tan Sri Syed Mokhtar Al-Bukhary, owns 70 per cent of Bank Muamalat and eventually has to pare its stake to comply with local banking rules on shareholding.

Two weeks ago, it announced that it was keen to explore a merger with Bank Islam, a move it said could create a mega Islamic bank.

"DRB-HICOM's expression of interest to BIMB was to explore for a possible merger ... and not to sell its shareholding in Bank Muamalat," DRB-HICOM had said.

Analysts point out that the combined assets of Bank Islam (RM31 billion) and Bank Muamalat (RM15.9 billion) would have been smaller than that of market leader Maybank Islamic Bank (RM59.6 billion).

BT reported about the potential merger last month, saying it could come about as a result of state investment firm Khazanah Nasional Bhd wanting to sell its 30 per cent stake in Bank Muamalat.

Bank Negara Malaysia allowed DRB-HICOM to buy its 70 per cent stake in Bank Muamalat in 2008 on condition that it would later sell down its holding to 40 per cent in a year.

In September last year, DRB-HICOM revealed that it had asked the central bank for more time to do this.

BIMB holds 51 per cent of Bank Islam, which last month also gave up its two-year pursuit of Indonesia's oldest Islamic lender, PT Bank Muamalat, because it was looking "too pricey".

Bank Islam's other shareholders are Dubai Group LLC (30.5 per cent) and pilgrims fund Lembaga Tabung Haji (18.5 per cent).

BIMB yesterday reported a 44 per cent rise in first quarter net profit attributable to shareholders, helped mainly by its Islamic lending and takaful businesses.

The profit came in at RM51.4 million compared with RM35.7 million in the same quarter a year ago.

"The group's core earnings have been on a consistent upward trajectory over the past year. We believe this trend will continue. We will continue to compete in an increasingly competitive and liberalised environment and strive to achieve a better performance in 2011," its group managing director Johan Abdullah said in a press statement.

yes, finally the truth came out.

As I said about 1 moon ago, Al-Bukhary is not selling his stake. Its all made up stories. He got another plan. {search The Star Business 5 weeks back}

When can only BIMB stop hovering 1.5x 1.6x. Yawnzz..

Wait for big shark coming lor

Haha, I wait almost half a year adi. Always cannot break resistant at 1.66 one, cant even sustain. Oh well, wait and wait keep waiting..hehe

Sharks? Sorry, BIMB is not attractive enough. 90% trades are retailers on this counter. Go figure.

sharks or retailers dont really matter as long as can earn money...those counters always play by sharks also dont mean we sure can earn $$.

You are right.

Can go for KNM if only interested in sharks play.

Does it not? LOL, can't believe you wrote that. If you want real action of sharks, come to KNM (as what SKY 1809's said)...

Sangat sangat degil at 1.6x...when Mr shark coming in..

definitely not for short term...

BIMB flying.....

Any news/reasons why it is flying suddenly?

Maybe EPF start accumulating! See can break 1.70 or not. I doubt it=.=

If EPF reli keluar power,then rm2.00 also possible.Onli donno how much EPF wan keluar nia

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Added on June 1, 2011, 3:26 pm1.70 liau....

This post has been edited by wenqing: Jun 1 2011, 03:26 PM

Wah powerful. 1.70 d! Still walloping at RM 1.70

good good