KLSE: BIMB (5258)       BIMB HOLDINGS BHD MAIN : Finance
Last Price Today's Change   Day's Range   Trading Volume
4.06   0.00 (0.00%)  4.05 - 4.13  432,200
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Market Cap: 7,278 Million
NOSH: 1,793 Million
Avg Volume (4 weeks):575,031
4 Weeks Range:4.04 - 4.49
4 Weeks Price Volatility (%):
52 Weeks Range:3.75 - 4.75
52 Weeks Price Volatility (%):
Average Price Target: 4.73
Price Target Upside/Downside: +0.67

Financial Highlight

Latest Quarter | Ann. Date 30-Sep-2019 [#3]  |  29-Nov-2019
Next QR | Est. Ann. Date: 31-Dec-2019  |  28-Feb-2020
T4Q P/E | EY: 9.48  |  10.54%
T4Q DY | Payout %: 3.88%  |  36.78%
T4Q NAPS | P/NAPS: 3.356  |  1.21
T4Q NP Margin | ROE: 19.82%  |  12.76%


Date Subject
09-Jan-2020 Bank Islam wins Al-Mansor Excellence Award in Islamic Financial Services
07-Jan-2020 Banking - Not Out of the Woods Yet
06-Jan-2020 Banking - Draft framework for virtual banks
02-Jan-2020 Banking - Nov 2019 BNM Stats. – Uptick in Applications and Approvals
02-Jan-2020 Banking - Needs Catalyst but Growth Prevails
02-Jan-2020 Banking - A Mixed Bag
31-Dec-2019 【免费的午餐】——BIMB
30-Dec-2019 Banking - Draft Framework for virtual banks
20-Dec-2019 Stock on Radar - BIMB Holdings (5258)
18-Dec-2019 BIMB Holdings - To Undergo Restructuring Exercise
13-Dec-2019 【视频】BIMB控股 业务重组稀释影响微
12-Dec-2019 BIMB Holdings - Post-Restructuring Details
12-Dec-2019 BIMB Holdings - Unlocking the value and enhancing net asset per share of Bank Islam
12-Dec-2019 BIMB Holdings Bhd - Restructuring Details Is Finally Out of the Bag
12-Dec-2019 BIMB Holdings - Unlocking the value and enhancing net asset per share of Bank Islam
12-Dec-2019 Mplus Market Pulse - 12 Dec 2019
12-Dec-2019 PublicInvest Research Headlines - 12 Dec 2019
12-Dec-2019 BIMB Holdings - To Undergo Restructuring Exercise
12-Dec-2019 BIMB WA...Speculative Upside Play Upon Releasing Value From BIMB Corporate Exercise
12-Dec-2019 BIMB to undertake restructuring exercise to unlock value, transfer listing status to Bank Islam

Business Background

Bimb Holdings is a Malaysia-based Islamic holding company that is principally engaged in providing financial products and services. The company is involved in Islamic business activities mainly through its investment in Shariah-compliant business entities. The company holds a 100% stake in Bank Islam Malaysia Berhad, which is the first Shariah-based bank in Malaysia and Southeast Asia. The company has a major stake in Syarikat Takaful Malaysia Berhad, which is an Islamic insurance provider. The company also has interests in venture capital, unit trusts, stock broking, offshore banking, and others.
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  31 people like this.
damiantreez Maybank raised TP by 45 sen to RM5.25
12/12/2019 8:39 AM
Kadir Guys...this is THE news ..worth waiting all this time
12/12/2019 9:41 AM
Kadir paperplane....don't b disheartened. At least cn gain smething
12/12/2019 10:03 AM
GLNT Not attractive I think?...Bank Islam earned about 560mil per year ex-Takaful. Give PER of 10x (which is considered on the high side vs peers and current valuation is mainly driven by growth in Takaful earnings), market cap RM5.6bil. Divide by 1.95bil of shares (enlarged capital), per share is worth RM2.87. Add another RM1.50 worth of Takaful, valuation is just about right at this price =>RM4.37. Unless you give a higher PER of 11x (RM4.66)? 12x (RM4.95)?
12/12/2019 10:03 AM
GLNT Or just want free money? BIMB-WA collect at RM0.235 (If you can get), get risk-free return of 10% in less than a year or RM0.24 (8%), RM0.245 (6%++).
12/12/2019 10:05 AM
Kadir Now cn switch to semicon counters.
12/12/2019 10:05 AM
Kadir paperplane..thanks.. anyway only cherry picking some potential stocks..haha
12/12/2019 10:23 AM
Siew Jian Bin Q3 2020 will complete this restructuring? Still need more than a 9 months? Anyone can advise?
12/12/2019 10:30 AM
Kadir Sure Juan Bin...This talk of restructuring has been on fr a couple of yrs. Nw is implementation time. Just don't miss the chance
12/12/2019 10:53 AM
paperplane The long-awaited restructuring exercise of BIMB HOLDINGS BHD, which includes the transfer
of its listing status to Bank Islam Malaysia Bhd by end-September 2020 and a RM800mil cash
call, has been announced. Bank Islam will be the fourth Malaysian bank since 2016 to assume
the listing status of its parent BIMB, following in the footsteps of peers such as Alliance Bank
Bhd, Affin Bank Bhd and RHB Bank Bhd. Currently, Bank Islam is wholly owned by BIMB – the
country’s eighth-largest banking group by market value. Lembaga Tabung Haji (TH) is the
controlling shareholder of BIMB with a 53.8% stake, followed by other top owners, namely, the
Employees Provident Fund (12.5%), Permodalan Nasional Bhd (5.4%) and Skim Amanah
Saham Bumiputera (21.5%). In its filing with the stock exchange yesterday, BIMB announced
that its proposed corporate restructuring would involve five components, allowing the group to
“unlock significant value for shareholders”. BIMB will place out new shares to raise RM800mil,
which together with RM122.2mil internally-generated cash, will be utilised to fully settle its
outstanding sukuk worth RM922.2mil held by TH. “The proposed sukuk redemption is expected
to result in finance cost savings of RM52.8mil per annum based on the effective profit rate of
6.25% per annum. The placement shares will be placed to investors to be identified at a later
date. For illustrative purposes only, assuming a 5% discount to the five-day volume weighted
average price (VWAP) of BIMB shares up to and including Nov 15 of RM4.30, the illustrative
issue price would be RM4.09 per placement share. “Based on the intended gross proceeds
(RM800mil) and the illustrative issue price, the placement shares to be issued pursuant to the
proposed placement are 195,599,022 BIMB shares, representing 11.1% of the issued share
capital of BIMB, ” it said. The second component of the banking group’s restructuring exercise
is the scheme of arrangement (SOA) to settle BIMB’s outstanding warrants, which will be paid
using internally-generated cash. BIMB will pay 26 sen per warrant, based on the five-day VWAP
of the warrants up to and including Dec 10. The SOA is expected to incur about RM110.9mil,
but is subject to change according to the number of outstanding warrants as at the entitlement
date. Upon the completion of the private placement and SOA, BIMB will also undertake an
internal reorganisation to dispose of its 100% stake in its leasing subsidiary, Syarikat Al-Ijarah
Sdn Bhd, and stockbroking subsidiary, BIMB Securities (Holdings) Sdn Bhd to Bank Islam.
12/12/2019 10:58 AM
Kadir paperplane...thanks
12/12/2019 11:07 AM
AlgoQuant BIMB Holdings - Post-Restructuring Details
Author: kiasutrader | Publish date: Thu, 12 Dec 2019, 11:54 AM

Losing out on Takaful contribution. Post-restructuring, the new entity will lose a chunk its top-line (9MFY19 contribution from Syarikat Takaful (STM) is 34%) as Bank Islam will become a full-fledged banking entity with STMKB to be stripped of from the new entity. Assuming the exercise is completed by end 3QCY20, we estimate that our FY20E earnings will be shed by ~29%. At a book value of RM5.32b and shares of Bank Islam at 1.96b (post-restructuring), we estimated that ROE of the new entity will be at 10.5% with a book value of RM2.71 per share.

(link to the above Kenanga research report - https://klse.i3investor.com/servlets/staticfile/375605.jsp)

As the upside for BIMB and BIMB-Wa is limited perhaps investors in this forum would like to switch and invest directly in the actual growth driver to BIMB's results which is Syarikat Takaful Malaysia Keluarga Berhad (which has declared record high dividends of 20c ex-date 18 Dec 2019)
12/12/2019 4:58 PM
Kadir Look at bimb peers aft restructuring...where r they now, that's a guide
12/12/2019 5:29 PM
gemfinder No gap down consider lucky...
12/12/2019 6:00 PM
Kadir Shld b up first
13/12/2019 9:56 AM
GLNT Buy BIMB-Wa at RM0.23 can get 13percent return in less than a year. Can BIMB fly to RM5 fr current levels.
13/12/2019 4:37 PM
GLNT Risk-Free money 13% return
13/12/2019 4:37 PM
Davidl I prefer 20% if any
13/12/2019 10:57 PM
Matcha Green Tea What are the chances of the risk free 0.26 cent WA settlement become uncertain?
15/12/2019 12:44 PM
GLNT Davidl, BIMB is worth RM5.40? Ok....
16/12/2019 9:47 AM
Kadir GLNT...must hit 4.55 + first
16/12/2019 12:52 PM
Kris Wong Win-win for BIMB-WA. If restructuring successful, risk free 26 sen. if not successful, WA price likely to recover strongly to previous higher level !!!
17/12/2019 9:31 AM
Syndicates don promote lah. more u promote less profit u gain. we should coorporate, dont buy until it drop till 20% discount
17/12/2019 11:14 AM
techlee229 Details of the long awaited restructuring have been announced
Bank Islam will finally take over the listing status
Split of the Group, between Bank Islam and STMB
Shareholders will get the chance to own STMB directly
Maintain earnings forecast for now as some details yet to be determined
Maintain BUY with unchanged TP of RM5.05
17/12/2019 1:49 PM
Kadir techlee229.... technically agreed
17/12/2019 5:18 PM
Kadir Already going to test 4.5
18/12/2019 11:08 AM
Kadir Am thinking of switching from asb to bimb..since asb div is low this yr n next .. probably
19/12/2019 11:39 AM
Kadir asb is the bumiputera fund.
19/12/2019 11:40 AM
damiantreez looking good
23/12/2019 5:18 PM
nickthebest Whats with BIMB and its warrant?
25/12/2019 10:16 AM
Multibagger https://m-bagger.blogspot.com/2019/12/success-of-bimb-restructuring-minority.html

Just my thought
28/12/2019 12:23 PM
taitaumau Announcement says the Proposed SOA is not conditional upon other proposals (The Proposed Placement, Proposed Internal Reorganisation, Proposed Distribution and Capital Repayment and Proposed Transfer of Listing )

If SOA is voted down in CCM, will BOD proceed with other proposals as planned ?

If yes, it makes no sense for warrant holders to cast against vote during CCM.
29/12/2019 10:37 AM
Multibagger I am puzzled why the internal reorganisation and transfer of listing is not conditional upon SOA, imagine if SOA is rejected, does it mean warrant holders will then hold unlisted warrant in a shelf company?
29/12/2019 12:59 PM
Multibagger Will SC allow that?
29/12/2019 1:00 PM
davidkkw79 Of course SC will allow it, now this Islamic government whatever it got related to islamic things sure will just allow it. Law is useless in Malaysia.
31/12/2019 11:35 AM
Kadir Some still accumulating this stock
13/01/2020 3:57 PM
Kadir Amanahraya trustees accumulating
14/01/2020 12:25 PM
Kadir Logic..In Msia..Islamic banking n insurance instruments will still b around n in demand. Just that need consolidation n adjustment to further grow
16/01/2020 12:28 PM
Kadir Throw me to the lion, I will return the king
16/01/2020 12:43 PM
Kadir For me...a tycoon is better than many goons
16/01/2020 1:13 PM
Kadir Shld rebound
17/01/2020 9:38 AM
MM78 What happened, the share dropped drastically yesterday?
17/01/2020 6:20 PM
Tedinvestor This counter had low trading volumes.
20/01/2020 10:37 AM
Guardize drop everyday ..... huge potential ahead
20/01/2020 9:57 PM
Tedinvestor Low volume counter does not attract me to buy. Affin too trading low volume.
21/01/2020 12:25 PM
aliahkaumuthu the share drop because of the dividend reinvestment plan?
21/01/2020 2:52 PM
Guardize depend takaful qr this week. huge potential ahead
21/01/2020 2:59 PM
keithtrade Yes I think mainly due to dividend re-investment plan, but still glad I took that option as I got more shares at a far lower price through that option but that explains the drop
22/01/2020 11:10 AM
tai yee Drop in price due to reduction in OPR?
22/01/2020 4:25 PM
damiantreez OPR cut. Maintain BUY.
23/01/2020 10:36 AM


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