I re-entered again today. Stupid me sold all last week for some peanut profit.

Bought at 1.40, sold at 1.50. Now have to buy at premium, but still - below RM2/-

No idea when. The plan will go through. Dato Zeti is pushing towards mega-Islamic banking in Malaysia.

If dropped again below 1.60, will reload again.

http://www.aawsat.com/English/news.asp?section=6&id=23595

http://www.kippreport.com/2010/12/malaysia...mega-bank-bids/

The easiest way is to merge or take over Bank Islam.

LONGKANG again today.... dropped a lot.

Pickup some more. Average down. 

Good analysis

  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.

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.

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

[/spoiler]
Thank you sister sharesa for this kind share......appreciate it.
For the benefit of all BIMB investors who had a poor command of Bahasa Malaysia, here's the English translation.
All new news or materials on BIMB are all welcome by all investors here....do post them if you find any new articles or news about BIMB here for the benefit of all here.....thank you so much.
Cheers to all....take care too.

There's a great possibility, even higher is achievable too......yes, I had observed that someone is buying in big lots too......just sapu only & that's what this person does, guess something must be up I presume.
Cheers.

Hopefully, when it breaks the 1.72 resistance, then $2 is achievable next.  
Let's keep our fingers crossed.
Cheers.

Brother zamans98, you can pour cold water every now & then on BIMB, like  a rattlesnake, viper or cobra you too can inject whatever poison you may like or choose but we the REAL INVESTORS IN BIMB will never, yes I repeat never, believe a single word you say. Why can't you be a decent person like everyone else here and buy silently, yes silently at whatever price you may so fancy & not coming here every now & then shouting loudly that BIMB share price will drop to your fancy price. Yes, you can shout until you are blue in the face & we will see.

Hmn, just wonder why you are so jealous when other LYN members are enjoying the fruits of their investment......when the price was around $1.30, you wish or predict that it will go down to $1.25, now 1.60++, you change tactics & tune and hope that it falls below $1.55.........what's next on your agenda, maybe you can look into your gypsy crystal ball again.....

......& then shout further again next & then expect that BIMB will be delivered to you on a silver platter?