KLSE: BIMB (5258)       BIMB HOLDINGS BHD MAIN : Finance
Last Price Today's Change   Day's Range   Trading Volume
4.33   +0.05 (1.17%)  4.32 - 4.40  451,000
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Ann. Date Name Details of Changes Securities After Change View
Date Type No. of Shares Price Direct (%) Indirect (%) Total (%)
06-Mar-2000 AMANAH RAYA NOMINEES(TEMPATAN) SDN. BHD. 18-Feb-2000 Notice of Interest 30,000,000 0.000 5.34 0.00 5.34 View Detail
26-May-2001 SYARIKAT NOMINEE BUMIPUTRA (ASING) SDN. BHD. 10-May-2001 Notice of Interest 26,522,778 0.000 4.71 0.00 4.71 View Detail
28-Nov-2001 EMPLOYEES PROVIDENT FUND BOARD 19-Nov-2001 Notice of Interest 28,266,200 0.000 4.67 0.34 5.01 View Detail
24-May-2007 AMANAH RAYA NOMINEES (TEMPATAN) SDN. BHD.- SKIM AMANAH SAHAM BUMIPUTERA 17-May-2007 Notice of Interest 50,000,000 0.000 0.00 5.60 5.60 View Detail
01-Mar-2010 AMANAHRAYA TRUSTEE BERHAD - SKIM AMANAH SAHAM BUMIPUTERA 24-Feb-2010 Notice of Interest 154,000,000 0.000 14.44 0.00 14.44 View Detail
26-May-2011 EMPLOYEES PROVIDENT FUND BOARD 23-May-2011 Notice of Interest 521,300 0.000 5.01 0.00 5.01 View Detail
10-Dec-2014 KUMPULAN WANG PERSARAAN (DIPERBADANKAN) (KWAP) 05-Dec-2014 Notice of Interest 1,500,000 0.000 4.58 0.50 5.08 View Detail
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  31 people like this.
GLNT I think EPF and PNB will press down the prices. The greatest manipulators of the stock market.
29/11/2019 2:10 PM
Kadir lloydlim...by end year may reach 5
29/11/2019 4:27 PM
paperplane Good results continue.
30/11/2019 10:12 AM
Jefferson Lim Looking at QR, all is good but the price keeps declining, the only reason is some big fund is manipulating.
01/12/2019 12:24 AM
antoniomc27 any news about the restructuring exercise? Will we see a split of Bank Islam and Takaful in 2020 guys? Betting on that to see Bank Islam value emerge... PBV around 0.8 now despite its good ROE and islamic play.
01/12/2019 1:06 PM
GLNT See how PNB buys and sells this stock. Totally manipulated.
01/12/2019 9:27 PM
Kadir GLNT..they can't be manipulation all the time. No way
02/12/2019 3:09 PM
Kadir Most banks have Outperform call- AmInvest
03/12/2019 9:17 AM
damiantreez Just with 3 Q results, total net profit is already close to last FY numbers. Assuming Q4 would be similar to Q3, we are looking at 800+m net profit for the year. Record number.
04/12/2019 6:52 PM
n0mad hoping for a good dividend announcement soon! that RM5.xx TP by most houses doesn't look likely in the near term though
04/12/2019 11:58 PM
paperplane Why not? Rm5 just reflect partly only. Its a good fundamental stock
05/12/2019 12:12 AM
n0mad totally agree on this being a good fundamental stock; my comment on the TP not being likely in the near term still valid i believe, 52-wk high is 4.75 and in the past 3 months or so, only briefly went above 4.30. anyway, regardless, am here for the long(er) term :)
05/12/2019 12:22 AM
Kadir n0mad.. not sure abt medium term..but long term shld give good returns
05/12/2019 4:16 PM
Kadir paperplane...agree with u. Bimb have strong fundamentals. Growth also sustainable.Its a matter of time, price will hve to reflect true value
06/12/2019 10:02 AM
11/12/2019 2:10 PM
damiantreez https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3008848
11/12/2019 2:10 PM
damiantreez better buy now before it's too late
11/12/2019 2:27 PM
Kadir damiantreez...latest announcement?
11/12/2019 3:16 PM
Arif Safwan Abdullah damiantreez what do this means? Will bimb separate with takaful? If it did, this means bad news..takaful is the cash cow
11/12/2019 4:48 PM
damiantreez bimb will separate with takaful > sold all business to bank islam > bank islam will be listed instead > all Bimb shareholders get Bank Islam share and also Takaful shares respective of their equity holding > achieve potential earnings accretion through the elimination of, or minimisation of resources and infrastructure duplication as well as reducing the complexity of group risk management

this is good news
11/12/2019 4:56 PM
Arif Safwan Abdullah damiantreez thanks for the explanation
11/12/2019 5:06 PM
PotentialGhost How about the Bimb Wa ?
11/12/2019 5:31 PM
damiantreez bimb wa holders will get cash 26 sen per share to cancel their rights to convert to mother share
11/12/2019 6:50 PM
lloydlim Oh shit! I holding wa so only could cash out with 26cts per wa?
11/12/2019 7:28 PM
lloydlim http://www.enanyang.my/?p=1329978
11/12/2019 7:28 PM
Ncm88 What happen?
11/12/2019 9:00 PM
gemfinder Bad news. Tomorow bimb n takaful gap down
11/12/2019 10:57 PM
samyew1234 gg habis, sell, omg
11/12/2019 10:57 PM
einvest88 Any idea BIMB shareholder get how many share of Takaful?
11/12/2019 11:07 PM
einvest88 BIMB will do par value reduction but maintain no of shares to exchange 1 for 1 with Bank Islam shares
11/12/2019 11:10 PM
einvest88 Distribution and Capital Repayment.
After the completion of the Placement, the SOA, the Internal Reorganisation, BHB’s entire shareholdings in Bank Islam and Syarikat Takaful Malaysia Keluarga Berhad (STMKB) will be distributed by way of distribution-in-specie to the shareholders of BHB.

Prior to the proposed distribution and capital repayment, BHB will undergo a capital reduction and Bank Islam will undertake a share consolidation. This is to match BHB’s outstanding shares so that the distribution of Bank Islam shares will be on a one-for- one basis.

The basis of distribution and entitlement of STMKB shares will be determined at a later date.
11/12/2019 11:16 PM
einvest88 In short, BIMB holder will still get equal amount of share in Bank Islam plus free Takaful shares...so BIMB price likely be up
11/12/2019 11:18 PM
einvest88 BIMB own 60% of Takaful...equal to 496m shares. BIMB total share 1764m, so every BIMB share possible get not more than 496/1764=0.28 Takaful.
11/12/2019 11:37 PM
einvest88 Assuming Takaful at 6, 0.28*6=1680 therefore BIMB potential future price approx 6
11/12/2019 11:42 PM
paperplane *BIMB Holdings (BIMB MK/BUY/TP:RM5.00)*

*Newsbreak:* BIMB is undertaking a group restructuring exercise through a series of moves: (i) raise RM800m via placement to pare down its outstanding sukuk (held by Lembaga Tabung Haji) and retire existing warrants (at 26sen/unit), (ii) cash disposal of BIMB Securities and Syarikat Al Ijarah to Bank Islam (priced at net assets, amounting to RM115m), (iii) distributing the stake in Bank Islam and Syarikat Takaful to investors, and (iv) transfer listing status to Bank Islam. The entire exercise is expected to complete in 3Q20.

*HLIB’s view:* Finally unveiled its corporate restructuring exercise and the architecture is similar to prior market speculation. This is positive as it helps to unlock value. Assuming a VWAP of RM4.30/share and placement is done at a 5% discount (this cannot be more than 10%), share base will be enlarged by 11%. We estimated that investors will be entitled to 1.28 of Bank Islam and 0.25 Syarikat Takaful shares for every 1 BIMB share held (w/o the placement exercise it would be higher at 1.42 and 0.28 respectively).

*Forecast:* Unchanged.

*Recommendation:* Retain BUY and GGM-TP of RM5.00, based on 1.42x 2020 P/B. This is largely in line to its 5-year mean of 1.45x but ahead of the sector’s 1.00x. The premium is fair given its 4ppt above-average ROE generation. Also, from our reverse SOP assessment, we calculated the market is only valuing Bank Islam (100%-owned) at 0.83x P/B with 10-11% ROE vs. peers at 1.00x P/B with 10% ROE, implying there is upside from current levels.
12/12/2019 7:26 AM
damiantreez So 1-1 share for bank islam and free takaful share. Seems good.
12/12/2019 8:21 AM
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


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