Singapore boon for CIMB

Quick Summary:

The valuation of CIMB Group Holdings Bhd may get a boost from its Singapore operations that have made a significant turnaround after having impaired oil and gas as well as marine sector loans in 2020.

The research house said another plus for the Singapore business is the 1.13 million Malaysians working in Singapore.

It is envisaged that the bank will contribute to a stable 10% to 12% of group earnings over the long term, according to Maybank Investment Bank (MaybankIB) Research.“CIMB Singapore’s financial ratios are looking much healthier than they were back in financial year 2020 (FY20).

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Article Details

Category: EconomyBusiness

Markets: MalaysiaSingapore

Topics: Corporate News WealthManagement /Business/Business News SMEBanking BankTurnaround LoanGrowth SingaporeOperations CIMBGroup ProfitBoost

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-16 @ 00:00:00 (1 days ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 500 words

Reading Time: 3 minutes read

Sentences: 13 lines

Sentence Length: 39 words per sentence (average)

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Copyright Owner: © The Star

News ID: 23079673

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