CIMB denies plans to privatize CIMB Niaga in Indonesia
The denial came as CIMB Group Holdings Bhd faced media reports about the possible privatization of its Indonesian unit. The bank said no decision had been made to date and no formal proposal had been submitted regarding the move.
Highlights
- CIMB Group Holdings Bhd denied plans to privatize CIMB Niaga in Indonesia in a statement on Thursday.
- CIMB stressed that management had made no decision or formal proposal regarding the privatization of CIMB Niaga.
- CIMB reiterated its commitment to its operations in Indonesia and said the market remains a key component of its regional strategy.
This article was translated from the original. Read the original version by our correspondent here.
Company responds to media reports
As reported by The Edge Malaysia, citing a statement from CIMB Group Holdings Bhd, the group on Thursday firmly denied that it planned to privatize its Indonesian unit, CIMB Niaga.CIMB said no decision had been made and no formal proposal existed for the potential privatization of CIMB Niaga. The bank also stressed that CIMB Niaga remains an important part of the group’s regional footprint.
Importance of Indonesian operations to the group
CIMB said it remains committed to its operations in Indonesia, signaling that the market continues to be a key component of the bank’s regional strategy.CIMB Niaga was described as an important unit in the group’s regional presence as the bank sought to temper market speculation following reports of the possible corporate move.
In our earlier coverage of Bursa Malaysia’s corporate market, we focused on key developments affecting trading sentiment, including corporate financing and cash management issues. We also highlighted investment progress, such as approval for a large-scale data center project, as well as several corporate updates across sectors that drew investors’ attention.
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