Dubai Group Statement in Response to Announcement by Bank Islam Malaysia Berhad

Published October 1st, 2009 - 01:33 GMT
 "Following an earlier announcement by BIMB Holdings Berhad BHB ("Bank Islam") with regards to its April 2009 offer for the capital increase, Dubai Group confirms that it is in the process of reviewing its strategic options relating to its stake. Bank Islam boasts strong attributes across the Asian banking sector, and the capital raise offer came in reflection of the successful transformation plan implemented by Bank Islam since 2006. However, following the reassessment of its investment strategy, Dubai Group has redirected its competitive advantage closer to home, namely the GCC and greater Middle East regions. Malaysia does remain a key market for future investments."

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