8 changed 3 ‧ merger business integration of the region to promote the profitability of CIMB

Bumiputra renamed CIMB Group (CIMB, 1023, board financial group), reaching the securities that the CIMB Group, the completion of the regional business integration operations to save costs and boost sales potential, facilitate strong profit performance group .

CIMB Group has completed the Malaysia, Indonesia, Thailand and Singapore and 8 to 5 business integration, including investment banking, asset management and insurance, treasury, credit cards, and the Islamic bank, a regional platform for business for their enterprise resources, information technology and operations, Group Risk and Group strategy and financial operations.

Business contribution to the 70 million U.S. dollars in Indonesia

CIMB Group's management has revealed that the Indonesian Lippo and commercial bank mergers of 平均 Operation Rate Xiezuo, annual pre-tax profit for the Group's contribution to 70 million U.S. dollars, including savings Cheng Benyue 21.3 million U.S. dollars and Ying Yee collaboration benefits to 48.7 million dollars.

Pacific Securities, said material CIMB Group in Q3 2009, will target regional bad debt on schedule the implementation of an enterprise; "bad bank" is that this group of individual companies, including Malaysian and regional business can be transferred all the bad debts, the last Provision for doubtful debts of 1.1 billion ringgit approved.

This regional "bad bank" special tool company, will improve the "good bank" of the bad loans ratio to 1.3% level (the second quarter of 2009, 2.4%), and the recovery of loan losses increased to 120.7 percent, the second quarter of 2009, compared with only 90.3%.

Foreign ownership rose to 39.5%

CIMB Group as of 2009 only 8 Yuemiao foreign ownership rose to 39.5%, compared to 34.9% 7 Yuemiao. Shares in August from 12-month high price of 10 ringgit fell back 80 cents. However, share price performance so far this year, or beyond the FTSE and other banks in Malaysia the KLCI peers.

Group net profit up to test the Securities couplet Chang unchanged 2009/2011 year net profit growth were 16.3,19.1 and 21.4%, respectively, to 2.2 billion 70 million, 27 billion and 3.2 billion 80 million ringgit.

"The above scenario will include the average loan growth of nearly 12%, higher non-interest income and a more significant contribution to Islamic banking, in particular market conditions and improvement in financial market sentiment, strong efficiency and credit rate of approximately 90 basis points so too. "

Pacific Securities, said CIMB Group's management believes that the operating environment of 2009, even optimistic than the period. Despite signs that consumer sentiment improved thread, the second half of 2009, increase trading activity. However, CIMB Group is to maintain sound management approach, the global economic recovery is still fragile.

"CIMB there will still be formed behind the effect of bad debts is expected in the second half. This business integration is still the main catalyst to promote the profitable performance."

The Securities couplet Cheung Holdings price target maintained at 10 ringgit 20 cents, to to "sell" rating. Shares the main landing catalysis, including the region, particularly Indonesia and Thailand, business performance, will be 50 branches in the rationalization of the potential cost savings arising from the cross within the strategy's performance, disposal Sime Darby (SIME, 4197, board trade Services Group) shares of potential profits, capital market continued to rebound and the emergence of more trading opportunities and trends in foreign investment portfolio (inflow or outflow) and so on.