MEDIA RELEASE PR36376
Dubai Group Statement in Response to Announcement by Bank Islam Malaysia Berhad
DUBAI, Oct. 1 /PRNewswire-AsiaNet/ --
"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".
About Dubai Group:
Dubai Group is the leading diversified financial services company of Dubai Holding. The company's active
investments include banking, financial exchanges, hospitality, real estate, insurance and Islamic finance.
Dubai Group is headquartered in Dubai, with offices in Pittsburgh, New York, London, Istanbul, Hong Kong
and Kuala Lumpur. Through its subsidiaries and affiliates, the Group's areas of operation span the Middle East
& North Africa (MENA) region, the European Union (EU), North America and Asia. For more information
Contact
Mohamed Tahboub
Senior Account Manager,
Financial Practice JiWin Public Relations
Direct: +971-4-361-3598
Mobile: +971-50-157-6868
Email: mohamed.tahboub@jiwin.ae
SOURCE: Dubai Group
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