Thursday, September 02, 2010

A CHIMP Bank?


Cheng mentioned her friend refers to CIMB as Cimb bank and she was reminded of it whenever banks in general were mentioned. As we know, in Bahasa Malaysia, we might not show the 'h' but pronounced with. So that was near enough.

Anyway, recently, CIMB overtook Maybank, replacing it as the largest bank in Malaysia, on the basis of market capitalization! In fact, CIMB is now the largest listed company on Bursa Malaysia, on the same basis, since the disgraceful fall of Sime Darby, dragged by its Engineering Division's huge costs overrun. It failed big time since the much hyped merger of all its plantation companies to be the largest plantation company in the world. They were better managed separately. If not for the recent costs overrun by its other division, its huge landbank can never go wrong even if all else failed.


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