INDONESIA - BANKING - BIMB awaits response from Indonesian bank

www.thestar.com.my - KUALA LUMPUR: Bank Islam Malaysia Bhd (BIMB)is awaiting response from an Indonesian Islamic bank on its proposed offer to acquire 30% to 40% stake, said managing director Datuk Seri Zukri Samat.
Zukri said the proposed acquisition was part of BIMB’s move to expand its overseas operations.
“BIMB has identified one bank and has indicated its offer to them but so far, we have yet to receive any response to our proposal,” he said.  (source)

MALAYSIA - BANKING - Maybank IB downgrades BIMB to 'sell'

www.btimes.com.my -Maybank IB Research has downgraded BIMB Holdings Bhd to "sell" from "buy"’ as it sees the recent run-up in the Islamic financial institution’s share price as excessive.

“Much as we continue to view Bank Islam’s and Syarikat Takaful Malaysia Bhd’s (BIMB’s units) prospects positively, the recent run-up in BIMB’s share price is cause to pause and take stock,” the research house said in a note on Monday. (source)

INDONESIA - BANKING - Bank Islam mulling acquisition of Indonesia's Bank Muamalat

www.thestar.com.my -KUALA LUMPUR (Reuters): Malaysia's Bank Islam, the country's second largest sharia bank is still exploring plans for a potential acquisition of a stake in PT Bank Muamalat in Indonesia, said its group managing director and CEO Johan Abdullah.
"We are still collecting data and nothing is concrete yet. We like Indonesia because the market is robust and the infrastructure is readily available for us to go in there," he told reporters after BIMB's AGM on Tuesday.
Johan also said BIMB is looking at an option of listing Bank Islam as part of its aim to unlock the value of its assets. (source)

INDONESIA - TAKAFUL - BIMB to potentially gain from Indonesian takaful market

www.theborneopost.com - KUCHING: BIMB Holdings Bhd (BIMB) could potentially see significant takaful contributions in the Indonesian takaful market its stake hold in PT Takaful Indonesia (PT Takaful).
However, pending the outcome of potential regulations by Indonesia’s central bank, the current contributions from the country’s takaful segment would not be significant for the time being.
Maybank Investment Bank Bhd (Maybank IB) director of Equity Markets (Research) Desmond Ch’ng told The Borneo Post that while there might be uncertainty surrounding BIMB’s 65 per cent owned Syarikat Takaful Malaysia Bhd’s (STMB) shareholding in PT Takaful, he did not expect this to immediately affect Maybank IB’s earnings forecasts or valuations for BIMB. (full story)

MALAYSIA - BANKING - Bank Islam may assume BIMB listing status - rumored to look Bank Muamalat

www.btimes.com.my - BIMB have been discussing the pros and cons of such a move. They may want to simplify the BIMB group structure, one source says.

Kuala Lumpur: Bank Islam Malaysia Bhd, the country’s oldest Islamic lender, may assume the listing status of its parent company BIMB Holdings Bhd, sources said.

BIMB owns 51 per cent of Bank Islam, from which it derives the bulk of its earnings. “BIMB have been discussing the pros and cons of such a move. They may want to simplify the BIMB group structure,” one of the sources told Business Times. (source)

INDONESIA - BANKING - Indonesia’s withdrawal of ownership ruling to benefit M’sian banks

www.thestar.com.my - PETALING JAYA: The move by Indonesia to drop a controversial policy that would limit ownership of its banks is good news for Malaysian banking groups with a position there, but the market's reaction has been muted.

Malayan Banking Bhd (Maybank) and CIMB Group Holdings Bhd, who stand to lose if Indonesia went ahead with the ruling, were unchanged at the close yesterday. (source)

MALAYSIA - Foreign Shariah advisories make their mark in Malaysian Islamic capital market

The latest list of Shariah advisers serving the local Islamic capital market (ICM) and registered by the Securities Commission of Malaysia (SC) confirms that five such individual foreign advisers are registered with the commission.

The commission is the only securities regulator in the world that requires such registration. (source)

MALAYSIA - 'Islamic banks in Malaysia should start merging'

KUALA LUMPUR: Islamic banks in Malaysia should start merging to form stronger entities, says the chief of Bank Islam Malaysia Bhd, the country's oldest Islamic lender.

 

There are currently 16 Islamic banks in the country, of which 10 are local, the largest being Maybank Islamic Bank Bhd.

Maybank Islamic, with an asset size of RM59.6 bil lion, is also the region's biggest. Bank Islam has some RM31 billion in assets. (source)