Latest news with #CIMBGroupHoldingsBerhad
Barnama
27-05-2025
- Automotive
- Barnama
Amer Harris Eyes Overall Title In Porsche Carrera Cup Asia
KUALA LUMPUR, May 27 (Bernama) -- Young Malaysia racer Amer Harris Jefry is on a mission to clinch the overall title when he makes his debut in the Porsche Carrera Cup Asia (PCCA) at the Sepang International Circuit (SIC) here on June 6-8. The 22-year-old, who is sponsored by CIMB Group Holdings Berhad, is confident of achieving his target since the race is being held in Sepang, his home turf. "I have spent thousands of hours training in Sepang. So, I'm confident I can at Sepang. Whatever it is, my mission is to clinch the overall title, but it won't be easy because there will be stiff competition from other drivers who have been in the game a long time.
Barnama
30-04-2025
- Business
- Barnama
CIMB's Forward30 strategic plan positions the Group strongly to chart its next phase of purpose-driven growth
KUALA LUMPUR, April 30 (Bernama) -- CIMB Group Holdings Berhad ('CIMB Group' or 'the Group') held its 68th Annual General Meeting ('AGM') on 29 April 2025 at Sime Darby Convention Centre, where all 12 ordinary resolutions tabled were successfully passed, and the audited financial statements for the financial year ended 31 December 2024 ('FY24') were duly received. The meeting was chaired by Tan Sri Mohd Nasir Ahmad, Chairman of CIMB Group, with the Board of Directors and Novan Amirudin, Group CEO of CIMB Group, in attendance. CIMB Group saw robust performance in 2024, driven by strong client franchise business. The year-on-year ('YoY') performance was underpinned by a proactive pivot to deposit-led strategy to preserve net interest margins (NIMs), increasing cross-sell opportunities, maintaining disciplined cost controls, and improving asset quality. As a result, the Group successfully increased its return on equity ('ROE') to 11.2% in 2024, up from 10.7% in 2023, while meeting most of the financial targets set under the Forward23+ strategic plan.
Independent Singapore
22-04-2025
- Business
- Independent Singapore
CIMB commits RM10 billion to power cross-border growth in Johor-Singapore Special Economic Zone
MALAYSIA: CIMB Group Holdings Berhad has committed RM10 billion (S$2.98 billion) in funding facilities aimed to improve growth in the Johor-Singapore Special Economic Zone (JS-SEZ). With the JS-SEZ poised to become a cornerstone of Malaysia-Singapore economic cooperation, CIMB's investment underscores growing private sector confidence in the zone's potential. 'The JS-SEZ represents a transformative move in regional economic collaboration, deepening connectivity and unlocking new avenues for sustainable growth between Malaysia and Singapore while strengthening the region's resilience against global uncertainties,' said Novan Amirudin, Group Chief Executive Officer, CIMB Group. This substantial financing pledge, one of the largest to date from a regional bank, puts CIMB at the forefront of ASEAN's next wave of economic integration, aligning capital with infrastructure and policy to fast-track cross-border business. ASEAN Financial Passport: Turning vision into action At the heart of CIMB's initiative is the launch of its ASEAN Financial Passport, a platform designed to offer businesses seamless cross-border banking support across every stage of growth. It is expected to include regulatory expertise, simplified account onboarding for clients from Malaysia and Singapore, and banking solutions such as SMEBizReady, GreenBizReady, HalalBizReady, and remittance services. CIMB is seeking to position itself not only as a lender but also as a partner for businesses navigating the complexities of cross-border expansion by delivering end-to-end support. The passport is not just conceptual but a tangible enabler in making the JS-SEZ operational. 'As a leading ASEAN-focused financial institution, we are committed to our purpose of advancing customers and society… backed by our strong on-ground presence in both Johor and Singapore,' said Novan. Empowering SMEs in an uncertain world While the JS-SEZ is expected to attract high-value investments and multinationals, CIMB's move also seeks to empower small- and medium-sized enterprises (SMEs) by providing tools and support systems that help them scale, optimise costs, and boost production efficiency—particularly in sectors like manufacturing, digital economy, halal trade, and sustainable development. This is particularly important in an increasingly destabilising status quo. The move could dramatically lower regional SMEs' barriers to entering new markets, tapping into ASEAN's 660-million-strong consumer base. Operational muscle to match ambition To ensure execution matches intent, CIMB has mobilised a dedicated team of 30 bankers across Singapore and Malaysia. With 28 branches in Johor, six of which are able to serve clients from JS-SEZ, the bank is also exploring locations near the upcoming Johor-Singapore Rapid Transit System (RTS) checkpoints to better serve cross-border traffic. Beyond financial services, CIMB is actively building the business ecosystem through foreign direct investment (FDI) and domestic direct investment (DDI) partnerships, client familiarisation visits, and thematic seminars covering legal, regulatory, and tax frameworks. These business matching and market access platforms are central to CIMB's approach as a regional enabler. It seeks to bridge the gap between investors, government stakeholders and on-ground opportunities. Public sentiment: Optimism across the Causeway The project also made netizens from both countries optimistic, with many users showing hope and pride in the shared vision. 'As a S'porean, I hope this becomes successful. It's important to have good friends and neighbours we can count on,' noted one netizen. Another user commented that they foresee a bright future for the two collaborating countries, stating , 'I have high confidence that this project will work and will benefit both countries in the near future. Let's go , Singapore and Malaysia!' 'Singapore and Malaysia, given how much they have in common, can be a prime example for the world of how strong and mutually beneficial bilateral ties can be.' These opinions show the growing belief that the JS-SEZ is not just a strategic platform for economic cooperation but a symbol of enduring regional solidarity. A strategic catalyst for ASEAN's future CIMB's commitment marks an important step in making the vision for JS-SEZ a reality. As the public and private sectors converge around this shared vision, the bank's RM10 billion commitment and ASEAN Financial Passport platform represent more than financial support; they signify that ASEAN's economic architecture is maturing, with integrated solutions emerging to support cross-border enterprise. In a region where political goodwill has often outpaced on-the-ground tools, CIMB's initiative may well become the benchmark for how institutions can drive meaningful regional cooperation. Read also: Johor turns to Singapore's NIE to raise school standards and curb brain drain
Yahoo
01-04-2025
- Business
- Yahoo
CIMB Group Holdings Berhad Full Year 2024 Earnings: EPS Misses Expectations
Revenue: RM20.9b (up 7.3% from FY 2023). Net income: RM7.73b (up 11% from FY 2023). Profit margin: 37% (up from 36% in FY 2023). The increase in margin was driven by higher revenue. EPS: RM0.72 (up from RM0.66 in FY 2023). We've found 21 US stocks that are forecast to pay a dividend yield of over 6% next year. See the full list for free. Net interest margin (NIM): 2.21% (down from 2.22% in FY 2023). Cost-to-income ratio: 46.7% (down from 46.9% in FY 2023). Non-performing loans: 2.12% (down from 2.67% in FY 2023). All figures shown in the chart above are for the trailing 12 month (TTM) period Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.1%. The primary driver behind last 12 months revenue was the Consumer Banking segment contributing a total revenue of RM8.15b (39% of total revenue). Explore how CIMB's revenue and expenses shape its earnings. Looking ahead, revenue is forecast to grow 7.1% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Banks industry in Malaysia. Performance of the Malaysian Banks industry. The company's share price is broadly unchanged from a week ago. It is worth noting though that we have found 1 warning sign for CIMB Group Holdings Berhad that you need to take into consideration. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Yahoo
20-03-2025
- Business
- Yahoo
Institutional investors in CIMB Group Holdings Berhad (KLSE:CIMB) see RM4.8b decrease in market cap last week, although long-term gains have benefitted them.
Given the large stake in the stock by institutions, CIMB Group Holdings Berhad's stock price might be vulnerable to their trading decisions The top 4 shareholders own 56% of the company Analyst forecasts along with ownership data serve to give a strong idea about prospects for a business If you want to know who really controls CIMB Group Holdings Berhad (KLSE:CIMB), then you'll have to look at the makeup of its share registry. With 59% stake, institutions possess the maximum shares in the company. In other words, the group stands to gain the most (or lose the most) from their investment into the company. Institutional investors endured the highest losses after the company's market cap fell by RM4.8b last week. However, the 10% one-year return to shareholders may have helped lessen their pain. But they would probably be wary of future losses. Let's delve deeper into each type of owner of CIMB Group Holdings Berhad, beginning with the chart below. See our latest analysis for CIMB Group Holdings Berhad Institutional investors commonly compare their own returns to the returns of a commonly followed index. So they generally do consider buying larger companies that are included in the relevant benchmark index. As you can see, institutional investors have a fair amount of stake in CIMB Group Holdings Berhad. This suggests some credibility amongst professional investors. But we can't rely on that fact alone since institutions make bad investments sometimes, just like everyone does. If multiple institutions change their view on a stock at the same time, you could see the share price drop fast. It's therefore worth looking at CIMB Group Holdings Berhad's earnings history below. Of course, the future is what really matters. Institutional investors own over 50% of the company, so together than can probably strongly influence board decisions. CIMB Group Holdings Berhad is not owned by hedge funds. Khazanah Nasional Berhad is currently the largest shareholder, with 22% of shares outstanding. For context, the second largest shareholder holds about 18% of the shares outstanding, followed by an ownership of 10% by the third-largest shareholder. On looking further, we found that 56% of the shares are owned by the top 4 shareholders. In other words, these shareholders have a meaningful say in the decisions of the company. While studying institutional ownership for a company can add value to your research, it is also a good practice to research analyst recommendations to get a deeper understand of a stock's expected performance. There are a reasonable number of analysts covering the stock, so it might be useful to find out their aggregate view on the future. While the precise definition of an insider can be subjective, almost everyone considers board members to be insiders. The company management answer to the board and the latter should represent the interests of shareholders. Notably, sometimes top-level managers are on the board themselves. Most consider insider ownership a positive because it can indicate the board is well aligned with other shareholders. However, on some occasions too much power is concentrated within this group. Our information suggests that CIMB Group Holdings Berhad insiders own under 1% of the company. Being so large, we would not expect insiders to own a large proportion of the stock. Collectively, they own RM11m of stock. Arguably recent buying and selling is just as important to consider. You can click here to see if insiders have been buying or selling. The general public-- including retail investors -- own 18% stake in the company, and hence can't easily be ignored. While this size of ownership may not be enough to sway a policy decision in their favour, they can still make a collective impact on company policies. I find it very interesting to look at who exactly owns a company. But to truly gain insight, we need to consider other information, too. Case in point: We've spotted 1 warning sign for CIMB Group Holdings Berhad you should be aware of. But ultimately it is the future, not the past, that will determine how well the owners of this business will do. Therefore we think it advisable to take a look at this free report showing whether analysts are predicting a brighter future. NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio
