Business : BIMB Still Eyeing Expansion Opportunities In Indonesia

February 10, 2012 17:47 PM

BIMB Still Eyeing Expansion Opportunities In Indonesia

KUALA LUMPUR, Feb 10 (Bernama) -- Bank Islam Malaysia Bhd (BIMB) is still eyeing for opportunities to expand in Indonesia, preferably via a strategic tie-ups with bigger network rather than on acquiring a smaller bank.

Its managing director, Datuk Seri Zukri Samat, said BIMB was currently in preliminary discussion with shareholders.

"We still harbour the intention to go to Indonesia.

"The process will take time because there are so many parties involved.

"We hope to see it happen as soon as possible," he told a media briefing after signing a memorandum of understanding (MOU) with Koperasi Pembiayaan Syariah Angkasa Bhd (Kopsya) here today.

He said BIMB was also looking for opportunities in Bangladesh but the plan for Indonesia was more advanced.

On its third initial public offering (IPO), Zukri said, the bank has received the Securities Commission's (SC) nod and was waiting for the right time for the launch.

BIMB is the only commercial bank approved by the SC to act as principal adviser to undertake corporate finance work such as IPOs and advisory services for mergers and acquisitions.

Under the MOU with Kopsya, BIMB will extend its entire range of syariah-based financial services to the former, giving it access to the latest banking products and facilities.

They include the provision of corporate investment banking, treasury and cash management services.

BIMB will make available the deposit service to Kopsya's account via counter services at all BIMB branches nationwide, cash deposit machines, standing instructions, Internet banking and mobile banking.

The bank will embark on the modernisation of Kopsya payment management via e-commerce and terminal.

Both parties will build a platform to create a co-branded credit and debit card.

-- BERNAMA

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Former NBA star Yao Ming eyeing film business

Shanghai, Jan 31 (IANS) Retired Chinese basketball superstar Yao Ming has been looking for business opportunities in the film industry but has not entered it yet, Yao's agent said Tuesday, responding to media reports claiming that Yao is planning to set up a film finance fund.

Foreign media reports that Jay Cohen, an American film producer, is setting up a film finance fund with Yao have caught the attention of China's media and public.

"Yao Ming and our team has not joined or set up any such organisation as the film finance fund," Yao's agent Zhang Mingji told Xinhua, adding that they are open to such kind of business, and are looking for good investment opportunities.

Zhang said Jay Cohen is a friend of Yao and they have had some discussions on investing in the film industry, but no action has been taken yet.

He went on to say that Yao is currently busy with managing Shanghai Sharks, a Chinese basketball team, and he has no plans to go to the United States to negotiate investing in the film industry.

Yao, 31, announced his retirement July 20 last year from the National Basketball Association's Houston Rockets, the US team which made him a global star, and from the Chinese national team five days later.

Since his retirement, Yao has been back to school studying for a university degree in business management and helping manage the Shanghai Sharks.

In November, he set up a company to sell his own brand of wine, and he sold the first bottle for 150,000 yuan ($23,766) at a charity auction.

Yao is China's first global sports superstar with a personal brand valued at more than $1 billion.

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Former NBA star Yao Ming eyeing film business - Thaindian.com

January 31st, 2012 - 6:56 pm ICT by IANS ( Leave a comment )

Shanghai, Jan 31 (IANS) Retired Chinese basketball superstar Yao Ming has been looking for business opportunities in the film industry but has not entered it yet, Yao’s agent said Tuesday, responding to media reports claiming that Yao is planning to set up a film finance fund.

Foreign media reports that Jay Cohen, an American film producer, is setting up a film finance fund with Yao have caught the attention of China’s media and public.

“Yao Ming and our team has not joined or set up any such organisation as the film finance fund,” Yao’s agent Zhang Mingji told Xinhua, adding that they are open to such kind of business, and are looking for good investment opportunities.

Zhang said Jay Cohen is a friend of Yao and they have had some discussions on investing in the film industry, but no action has been taken yet.

He went on to say that Yao is currently busy with managing Shanghai Sharks, a Chinese basketball team, and he has no plans to go to the United States to negotiate investing in the film industry.

Yao, 31, announced his retirement July 20 last year from the National Basketball Association’s Houston Rockets, the US team which made him a global star, and from the Chinese national team five days later.

Since his retirement, Yao has been back to school studying for a university degree in business management and helping manage the Shanghai Sharks.

In November, he set up a company to sell his own brand of wine, and he sold the first bottle for 150,000 yuan ($23,766) at a charity auction.

Yao is China’s first global sports superstar with a personal brand valued at more than $1 billion.

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