KUALA LUMPUR, Feb 4 (Bernama) -- CIMB Group (“CIMB” or “the Group”) today announced the completion of the sale of its 100% equity interest in CIMB Southeast Asia Research Sdn. Bhd. (“CARI”). CARI was set up in 2011 to support ASEAN economic integration agenda by way of policy research and policy advocacy. The new owner of CARI, Tan Sri Dr. Mohd Munir bin Abdul Majid, its current Chairman, intends to continue with the think tank’s research and advocacy work.

CARI publishes industry-focused policy and position papers providing policy recommendations aimed at narrowing policy gaps in ASEAN. Many of its papers have been submitted to ASEAN Leaders, Ministers and ASEAN bodies and included in official ASEAN documents. Based in Kuala Lumpur, it has a wide network of partners spanning across ASEAN, Asia Pacific, North America and Europe.

CARI has received recognition from cabinet ministers and heads of governments of ASEAN as well as dialogue partner countries with some of them contributing to its publications. In 2020 CARI was the knowledge partner in the publication of key policy recommendations in “A Pathway Towards Recovery and Hope for Asean” (Pathway 225), recognised in the ASEAN Chairman’s Statement in November.

Dato’ Abdul Rahman Ahmad, Group Chief Executive Officer of CIMB Group said, “Tan Sri Munir has been a driving force in promulgating the ASEAN integration agenda and we are confident of the continued success of CARI under his leadership. We wish CARI all the best and look forward to future collaborations between CIMB Group and CARI.”

“I wish to thank CIMB for their past support. In the last ten years, CARI has established itself as a thought leader and knowledge partner in ASEAN. I look forward to leading CARI to new heights in the years ahead, which will see huge sustainability issues challenging economic and political development,” said Tan Sri Dr. Munir Majid.

About CIMB
CIMB is one of ASEAN’s leading banking groups and Malaysia’s second largest financial services provider, by assets. Listed on Bursa Malaysia via CIMB Group Holdings Berhad, it had a market capitalisation of approximately RM42.7 billion as at 31 December 2020. It offers consumer banking, commercial banking, wholesale banking, transaction banking, Islamic banking and asset management products and services. Headquartered in Kuala Lumpur, the Group is present in all 10 ASEAN nations (Malaysia, Indonesia, Singapore, Thailand, Cambodia, Brunei, Vietnam, Myanmar, Laos and Philippines). Beyond ASEAN, the Group has market presence in China, Hong Kong, India, Korea, the US and UK.

CIMB has one of the most extensive retail branch networks in ASEAN with 668 branches and around 34,000 employees as at 31 December 2020. The Group’s investment banking arm is one of the largest Asia Pacific-based investment banks, while it offers comprehensive research coverage of around 950 stocks in the region via its CGS-CIMB joint venture. CIMB is also the 92.5% shareholder of Bank CIMB Niaga in Indonesia, and 94.8% shareholder of CIMB Thai in Thailand.

SOURCE: CIMB Group 

FOR MORE INFORMATION, PLEASE CONTACT:
Name: Lynn Guha Thakurta / Juanita Johari
Group Corporate Communications
CIMB Group Holdings Berhad
Email: lynn.thakurta@cimb.com / juanita.johari@cimb.com

--BERNAMA