^{Novan Amirudin, Group Chief Executive Officer, CIMB Group} 


To be attributed to Novan Amirudin, Group Chief Executive Officer of CIMB Group  

KUALA LUMPUR, Oct 21 (Bernama) -- We laud the government’s bold move to creatively expand the tax base by introducing carbon and dividend taxes and expanding the scope of SST. This, alongside the reduction of blanket subsidies, enhanced support for MSMEs, and implementation of strategic blueprints like the NETR, NIMP and JSSEZ will give the government more firepower to spend as needed to boost our economy, pursue shared prosperity and further spur foreign direct investments (“FDIs”). 

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 RM72.7 billion as at 30 June 2024. It offers Consumer Banking, Commercial Banking, Wholesale Banking, Islamic Banking, Wealth Management and Digital Payment Products and Services. Headquartered in Kuala Lumpur, the Group is present in eight ASEAN nations (Malaysia, Indonesia, Singapore, Thailand, Cambodia, Vietnam, Myanmar and Philippines). 
 
Beyond ASEAN, the Group has market presence in China, Hong Kong and UK. CIMB has one of the most extensive retail branch networks in ASEAN with 594 branches and over 33,000 employees as at 30 June 2024. CIMB’s investment banking arm is one of the largest Asia Pacific-based investment banks, which operates in 16 countries across Asia Pacific. CIMB is also the 92.5% shareholder of Bank CIMB Niaga in Indonesia, and 94.8% shareholder of CIMB Thai in Thailand.  

Source: CIMB Bank Berhad

FOR MORE INFORMATION, PLEASE CONTACT:
Name: Anis Azharuddin / Kelvin Jude Muthu
Group Corporate Communications 
CIMB Group Holdings Berhad
Email: anis.azharuddin@cimb.com / kelvinjude.muthu@cimb.com 

--BERNAMA