Radiating Hope
BIMB HOLDINGS BERHADANNUAL REPORT 2011
This year's Annual Report has as its focus the theme "Radiating hope".It is an apt reflection of how the companies within the BHB Group are continuing to contribute to greater allocative efficiency, market discipline, financial stability, and social responsibility.In a world beset with financial crisis, these strengths inherent in Islamic banking should offer a new ray of hope for achieving the cherished goal of systemic stability.As we work towards a common goal, our IslamicBanking, Takaful, Stockbroking and other related businesses are bringing together their collective strengths and resources to skilfully add a healthy dimension to the international financial system and secure amidst a highly competitive marketplace.
4 BIMB HOLDINGS BERHAD 423858-X
Inside6 Notice of the 13th Annual General Meeting
8 Notice of the 14th Annual General Meeting
10 Statement Accompanying Notice of the 13th Annual General
Meeting
10 Statement Accompanying Notice of the 14th Annual General
Meeting
11 Corporate Profile
12 Corporate Information
13 Group Corporate Structure
14 Directors Profile
18 CEOs in the Group
19 Management Committee
20 5-years Group Financial Highlights
23 Letter to Shareholders
30 Corporate Responsibility
34 2009/2010 Highlights
38 Statement of Corporate Governance
49 Statement on Internal Control
51 Additional Compliance Information
55 Financial Statements
144 Properties Owned by the BHB Group
154 Shareholding Statistics
157 Regional Group Network
Form of Proxy for the 13th AGM of the Company
Form of Proxy for the 14th AGM of the Company
We are committed to provide financial access to all including the underserved community and giving back to the society.
Enhancing Lives
At BIMB Holdings, we believe opportunity exist in most unlikely places.It's when you explore the unfamiliar, you will find ideas that reshape the way you think, feel and experience banking. A t B I M B H o l d i n g s , t he oppor tun i t y i s now here .
Discovering Opportunity
7BIMB HOLDINGS BERHAD 423858-X
Conserving Energy
The BHB Group values the
environment that we operate in
and is committed to protecting it
by promoting innovation through
technology enhancements.
Nurturing Talents
A company is only as good as the people behind it and that is why the BHB Group believes in investing in our most valuable asset our workforce. By continuously providing our talent training and development opportunities, charting their career growth and exploring ways to inspire them, we are setting in place the elements to foster our sustainable growth
10 BIMB HOLDINGS BERHAD 423858-X
NOTICE IS HEREBY GIVEN THAT the 13th ANNUAL GENERAL MEETING of BIMB Holdings Berhad ("BHB" or "the Company") will be held at Tun Rahah Grand Hall, Level 1, Menara Yayasan Tun Razak, 200 Jalan Bukit Bintang, 55100 Kuala Lumpur on Thursday, 12 May 2011 at 10.00 a.m. for the following purposes:
ORDINARY BUSINESS1. To receive the Audited Financial Statements for the 18 months financial period ended 31 December2010 together with the Reports of the Directors and Auditors thereon. [Ordinary Resolution 1]2. To approve the payment of a fi nal dividend of 1.60% less 25% tax in respect of the 18 months financialperiod ended 31 December 2010. [Ordinary Resolution 2]3. To re-elect the following Directors who are retiring by rotation in accordance with Article 61 of theCompany's Articles of Association and being eligible, have offered themselves for re-election:-a) Encik Zahari @ Mohd Zin bin Idris [Ordinary Resolution 3]b) Encik Johan bin Abdullah [Ordinary Resolution 4]4. To re-elect the following Directors who are retiring in accordance with Article 66 of the Company'sArticles of Association and being eligible, have offered themselves for re-election:-a) Tuan Syed Elias bin Abd. Rahman Alhabshi [Ordinary Resolution 5]b) Puan Rozaida binti Omar [Ordinary Resolution 6]5. To consider and if thought fi t, to pass the following resolution in accordance with Section 129 of theCompanies Act, 1965:-"That Encik Salih Amaran bin Jamiaan, who is retiring in accordance with Section 129 of theCompanies Act, 1965, be and is hereby re-appointed as a Director of the Company to hold offi ce untilthe conclusion of the next Annual General Meeting of the Company." [Ordinary Resolution 7]6. To approve the payment of Directors' fees for the 18 months financial period ended 31 December 2010. [Ordinary Resolution 8]7. To re-appoint Messrs. KPMG Desa Megat & Co. as External Auditors of the Company until the conclusionof the next Annual General Meeting and to authorise the Directors to fix their remuneration.[Ordinary Resolution 9]
SPECIAL BUSINESS8. Proposed Amendment to Article 100 of the Company's Articles of Association on Electronic DividendPayment (eDividend)"That the following existing Article 100 be deleted in its entirety and replaced with the following newArticle 100:-Existing Article 100Any dividend, or other money payable in cash in respect of shares may be paid by cheque or warrantsent through the post directed to the registered address of the holder or, in the case of joint holders tothe registered address of that one of the joint holders who is fi rst named on the Register of Membersor to such person and to such address as the holder or joint holders may in writing direct. Every suchcheque or warrant shall be made payable to the order of the person to whom it is sent. Anyone of twoor more joint holders may give effectual receipts of any dividend, bonuses or other money payable inrespect of the shares held by them as joint holders.Proposed Amendment to Article 100Any dividend, or other money payable in cash in respect of securities may be paid by cheque orwarrant sent through the post directed to the last registered address of the holder or paid viaelectronic transfer of remittance to the bank account provided by the holder whose nameappears in the Register of Members and/or Record of Depositors. Every such cheque or warrant orelectronic transfer of remittance shall be made payable to the order of the person to whom it is sentor remitted, and the payment of any such cheque or warrant or electronic transfer of remittanceshall operate as a good discharge of the Company's obligation in respect of the dividend, interestor other money payable in cash thereby represented.
Notice of the 13th Annual General Meeting
11BIMB HOLDINGS BERHAD 423858-X
NOTICE OF DIVIDEND ENTITLEMENT AND PAYMENTNOTICE IS HEREBY GIVEN THAT subject to the shareholders' approval under Ordinary Resolution 2 at the 13th Annual GeneralMeeting of the Company to be held on Thursday, 12 May 2011, a fi nal dividend of 1.60% less 25% tax in respect of the 18 monthsfinancial period ended 31 December 2010 will be paid on 15 June 2011 to shareholders whose names appear on the Record ofDepositors as at 27 May 2011.FURTHER NOTICE IS ALSO HEREBY GIVEN that a shareholder shall qualify for dividend entitlement only in respect of:a) Shares transferred to the depositor's securities account before 4.00 p.m. on 27 May 2011 in respect of ordinary transferb) Shares bought on Bursa Malaysia Securities Berhad on a cum entitlement basis according to the rules of Bursa MalaysiaSecurities Berhad.By Order of the BoardMaria binti Mat Said (LS 0009400)Company SecretaryKuala Lumpur20 April 2011Notes :1. BHB has changed its financial year end from 30 June to 31 December and an announcement has been made to Bursa Malaysia Securities Berhad on 26 October 2009 on the change of fi nancial year end. Pursuant to Section 143(1) of the Companies Act, 1965 which stipulates that an Annual General Meeting ("AGM") must be held once in every calendar year, the Company had applied to the Companies Commission of Malaysia ("CCM") for the extension of time to hold its 13th AGM in respect of the calendar year 2010. Subsequently, CCM had on 15 January 2010 granted its approval for the extension of time to hold the 13th AGM until 31 May 2011. BHB did not hold any AGM in the calendar year 2010. In this regard, the forthcoming 13th AGM will be held to table the 18 months Audited Financial Statements for the financial period made up from 1 July 2009 to 31 December 2010 as well as other ordinary businesses, and this AGM shall be deemed to be held for the calendar year 2010.2. A member of the Company entitled to attend and vote at the meeting may appoint a proxy or proxies to attend and vote instead of himself/herself.3. The instrument appointing a proxy shall:-i) in case of individual, be signed by the appointer or by his attorney; andii) in case of a corporation be either under its common seal or signed by its attorney or by an offi cer on behalf of the corporation.4. Where a member appoints more than one proxy the appointment shall specify the proportions of his holdings to be represented by each proxy.5. All proxy forms should be deposited at the Company's Registered Offi ce, Level 18, Menara Yayasan Tun Razak, 200 Jalan Bukit Bintang, 55100 Kuala Lumpur not less than forty-eight hours before the time fi xed for holding of the meeting or any adjournment thereof.6. Explanatory Note to the Special Businessi) Special Resolution 1- Proposed Amendment to Article 100 of the Company's Articles of Association on Electronic Dividend Payment (eDividend) cheques.
Notice of the 13th Annual General Meeting
12 BIMB HOLDINGS BERHAD 423858-X
Statement AccompanyingNotice of the 13th Annual General Meeting
Statement Pursuant to Paragraph 8.27(2) of the Listing Requirements of Bursa Malaysia Securities Berhad
1. The Directors who are standing for re-election at the 13th AGM of the Company are as follows:-
Article 61 of the Company's Articles of Association
-Encik Zahari @ Mohd Zin bin Idris
-Encik Johan bin Abdullah
Article 66 of the Company's Articles of Association
-Tuan Syed Elias bin Abd. Rahman Alhabshi
-Puan Rozaida binti Omar
Section 129 of the Companies Act, 1965
-Encik Salih Amaran bin Jamiaan
2. The details of the above Directors are set out in the Directors Profile on pages 14 to 16 of this Annual Report.
Statement AccompanyingNotice of the 14th Annual General Meeting
Statement Pursuant to Paragraph 8.27(2) of the Listing Requirements of Bursa Malaysia Securities Berhad
1. The Directors who are standing for re-election at the 14th AGM of the Company are as follows:-
Article 61 of the Company's Articles of Association
-Dato' Paduka Ismee bin Ismail
-Puan Zaiton binti Mohd Hassan
Article 66 of the Company's Articles of Association
-Tan Sri Ismail bin Adam
Section 129 of the Companies Act, 1965
-Encik Salih Amaran bin Jamiaan
2. The details of the above Directors are set out in the Directors Profi le on pages 14 to 16 of this Annual Report
13BIMB HOLDINGS BERHAD 423858-X
BHB is an investment holding company which operates along Islamic
principles.It holds broad appeal for investors and customers because
of its strong commitment to upholding ethical practices. BHB was
incorporated in Malaysia on 20 March 1997, and was listed on the Main
Market of Bursa Malaysia Securities Berhad on 16 September in the
same year. The authorised capital of BHB is RM2 billion while its paid-
up capital is approximately RM1.07 billion.The core subsidiaries of the
BHB Group are pioneers in various Islamic financial services including
banking, takaful, stockbroking, and other related services.
Corporate Profile
14 BIMB HOLDINGS BERHAD 423858-X
Corporate InformationBOARD OF DIRECTORS
Tan Sri Samsudin bin Osman
Non-Independent Non-Executive
Director/
Chairman
Encik Johan bin Abdullah
Group Managing Director/Chief Executive
Offi cer
Executive Non-Independent Director
Dato' Paduka Ismee bin Ismail
Non-Independent Non-Executive Director
Encik Zahari @ Mohd Zin bin Idris
Independent Non-Executive Director
Puan Zaiton binti Mohd Hassan
Independent Non-Executive Director
Encik Salih Amaran bin Jamiaan
Non-Independent Non-Executive Director
Tuan Syed Elias bin Abd. Rahman
Alhabshi *
Non-Independent Non-Executive Director
Puan Rozaida binti Omar *
Non-Independent Non-Executive Director
Tan Sri Ismail bin Adam *
Independent Non-Executive Director
AUDIT AND EXAMINATION
COMMITTEE
Encik Zahari @ Mohd Zin bin Idris
(Chairman)
Puan Zaiton binti Mohd Hassan
Encik Salih Amaran bin Jamiaan
Dato' Hairuddin bin Mohamed
(resigned on 1 March 2011)
NOMINATION AND ASSESSMENT
COMMITTEE
Puan Zaiton binti Mohd Hassan
(Chairman)
Dato' Paduka Ismee bin Ismail
Encik Zahari @ Mohd Zin bin Idris
Dato' Mohd Bakke bin Salleh
(resigned on 15 July 2010)
REMUNERATION COMMITTEE
Puan Zaiton binti Mohd Hassan
(Chairman)
Dato' Paduka Ismee bin Ismail
Encik Zahari @ Mohd Zin bin Idris
Dato' Mohd Bakke bin Salleh
(resigned on 15 July 2010)
SPECIAL COMMITTEE
Encik Zahari @ Mohd Zin bin Idris
Dato' Sri Zukri bin Samat
Dato' Hairuddin bin Mohamed
(resigned on 1 March 2011)
SHARIAH SUPERVISORY COUNCIL
BANK ISLAM MALAYSIA BERHAD
Dr. Ahmad Sobri @ Shahbari bin
Salamon
(Chairman)
Haji Mohd Bakir bin Haji Mansor
Dato' Haji Daud bin Muhammad
Dr. Yusof bin Ramli
Dr. Ahmed Mohieldin Ahmed
Dr. Uzaimah binti Ibrahim
Haji Mohd Nazri bin Chik
SHARIAH ADVISORY BODY
SYARIKAT TAKAFUL MALAYSIA BERHAD
Dr. Ahmad Sobri @ Shahbari bin
Salamon
(Chairman)
Datuk Abdul Hamid bin Said
(retired on 1 April 2011)
Haji Mohd Bakir bin Haji Mansor
Dr. Aida binti Othman
Dr. Muhamad Rahimi bin Osman
(appointed on 12 January 2010)
SHARIAH ADVISORY COMMITTEE
BIMB SECURITIES SDN BHD
Haji Mohd Bakir bin Haji Mansor
(Chairman)
Dato' Paduka Dr. Mahmood Zuhdi
bin Haji A. Majid
Dato' Dr. Abdul Halim bin Ismail
Dato' Mohd Bakke bin Salleh *
Non-Independent Non-Executive Director
Dato' Dr. Abdul Halim bin Ismail *
Non-Independent Non-Executive Director
Dato' Hairuddin bin Mohamed *
Independent Non-Executive Director
* Tuan Syed Elias bin Abd. Rahman
Alhabshi
(appointed on 1 December 2009)
Puan Rozaida binti Omar
(appointed on 1 December 2009)
Tan Sri Ismail bin Adam
(appointed on 3 January 2011)
Dato' Mohd Bakke bin Salleh
(resigned on 15 July 2010)
Dato' Dr. Abdul Halim bin Ismail
(retired on 1 December 2010)
Dato' Hairuddin bin Mohamed
(resigned on 1 March 2011)
CEOs IN THE GROUP
Encik Johan bin Abdullah
Group Managing Director/Chief Executive
Officer
BIMB Holdings Berhad
Dato' Sri Zukri bin Samat
Managing Director
Bank Islam Malaysia Berhad
Dato' Mohamed Hassan bin Md. Kamil
Group Managing Director
Syarikat Takaful Malaysia Berhad
Encik Rashid bin Ismail
Chief Executive Offi cer
BIMB Securities Sdn. Bhd.
COMPANY SECRETARY
Puan Maria binti Mat Said (LS 0009400)
AUDITORS
KPMG Desa Megat & Co (AF 0759)
Level 10, KPMG Tower
8 First Avenue, Bandar Utama
47800 Petaling Jaya, Selangor
REGISTERED OFFICE
Level 18, Menara Yayasan Tun Razak
200 Jalan Bukit Bintang
55100 Kuala Lumpur
Tel: +603 2781 2999
Fax: +603 2781 2998
Website: www.bimbholdings.com
SHARE REGISTRAR
Symphony Share Registrars Sdn. Bhd.
Level 6, Symphony House
Pusat Dagangan Dana 1
Jalan PJU 1A/46
47301 Petaling Jaya
Tel: +603 78418000
Fax: +603 78418152
STOCK EXCHANGE LISTING
Main Market of Bursa Malaysia
Securities Berhad
16 September 1997
15BIMB HOLDINGS BERHAD 423858-X
Group Corporate Structure
BankingStock &Share Broking
Leasingof Assets
Investment Holding- Venture Capital OthersTakaful
51%
Bank Islam
Malaysia Berhad
65.22%
Syarikat Takaful
Malaysia Berhad
100%
BIMB Securities
(Holdings) Sdn.
Bhd.
100%
Syarikat Al-Ijarah
Sdn. Bhd.
100%
BIMB Musyarakah
Satu Sdn. Bhd.
48%
Islamic Banking &
Finance Institute
Malaysia Sdn.
Bhd. *
51%
BIMB Securities
Sdn. Bhd.
100%
BIMSEC
Nominees
(Asing)
Sdn. Bhd.
100%
BIMSEC
Nominees
(Tempatan)
Sdn. Bhd.
100%
BIMSEC Asset
Management
Sdn. Bhd.
63.09%
ASEAN Retakaful
International
(L) Ltd
56.00%
P.T. Syarikat
Takaful
Indonesia
64.70%
P. T.
Asuransi
Takaful
Umum
74.78%
P. T.
Asuransi
Takaful
Keluarga
100%
BIMB Investment
Management
Berhad
100%
BIMB Foreign
Currency Clearing
Agency Sdn. Bhd.
100%
Al-Wakalah
Nominees
(Tempatan)
Sdn. Bhd.
80%
Farihan
Corporation
Sdn. Bhd.
100%
Bank Islam Trust
Company
(Labuan) Ltd
100%
BIMB Offshore
Company
Management
Services
Sdn. Bhd.
16 BIMB HOLDINGS BERHAD 423858-X
Tan Sri Samsudin bin Osman Chairman/Non-Independent Non-Executive Director
Master in Public Administration, Pennsylvania State University (USA)
Bachelor of Arts (Hons), University of Malaya
Diploma in Public Administration, University of Malaya
Tan Sri Samsudin, 64, a Malaysian, was appointed to the Board on 1 February
2007. He is currently the President of Perbadanan Putrajaya. He is also the
Chairman of the Employees Provident Fund ("EPF") Board, EPF Investment Panel
and Board of University Utara Malaysia. Tan Sri Samsudin also sits on the Board
of Sime Darby Berhad as a Director. From 2001 to 2006, .He has not been convicted of any offence within the past ten
(10) years.
He attended 7 out of 8 Board Meetings held in the financial period.
Dato' Paduka Ismee bin Ismail Non-Independent Non-Executive Director
Associate Member of Chartered Institute of Management Accountants
Member of Malaysian Institute of Accountants
Dato' Paduka Ismee, 46, a Malaysian, was appointed to the Board on 9 October
2006. He is a member of the Nomination and Assessment Committee and the
Remuneration Committee of BHB. He is currently the Group Managing Director and
Chief Executive Offi cer of Lembaga Tabung Haji ("TH").He is also the Chairman
of Syarikat Takaful Malaysia Berhad and a Director of Bank Islam Malaysia
Berhad, TH Plantations Berhad, KFC Holdings Malaysia Berhad, Johor Corporation and 1Malaysia Development Berhad. Prior
to joining TH, he was the Chief Executive Offi cer of ECM Libra Securities and a Director of ECM Libra Capital Sdn Bhd.
He has not been convicted of any offence within the past ten (10) years.
He attended 5 out of 8 Board Meetings held in the financial period.
Director’s Profile
17BIMB HOLDINGS BERHAD 423858-X
Encik Zahari @ Mohd Zin bin Idris Independent Non-Executive Director
Senior Cambridge Certificate
Encik Zahari, 67, a Malaysian, was appointed to the Board on 20 September
2002. He is the Chairman of the Audit and Examination Committee and is also a
member of the Nomination and Assessment Committee, Remuneration Committee
and Special Board Committee of BHB. He is also a Director of Bank Islam Malaysia
Berhad. He began his career with Malayan Banking Berhad ("Maybank"), whereby
between 1962 to 1996, he held various senior positions in Maybank, including that
of General Manager, Commercial Banking Division (last position held).He has not been convicted of any offence within the
past ten (10) years.
He attended 7 out of 8 Board Meetings held in the financial period.
Encik Salih Amaran bin Jamiaan Non-Independent Non-Executive Director
Master in Business Administration, Wharton School, University of Pennsylvania (USA)
Diploma in Public Administration, Victoria University, Wellington (New Zealand)
Bachelor of Science (Economics), London School of Economics and Political Science, University
of London (UK)
Encik Salih Amaran, 71, a Malaysian, was appointed to the Board on 18 February
2005. He is a member of the Audit and Examination Committee of BHB. He
served as Deputy Secretary, Finance Division at the Malaysian Ministry of
Finance; General Manager, International Banking Division of Malayan Banking Berhad; Special Advisor (Economics) of
the Commonwealth Secretariat, London; and Deputy Director, Trade Finance and Promotion Department of the Islamic
Development Bank (IDB) in Jeddah and was the Regional Representative of IDB for Brunei, Indonesia and Malaysia based
in Kuala Lumpur.He has not been convicted of any offence within the past ten (10) years.
He attended 7 out of 8 Board Meetings held in the financial period.
Director’s Profile
18 BIMB HOLDINGS BERHAD 423858-X
Director’s Profile
Tuan Syed Elias bin Abd. Rahman Alhabshi Non-Independent Non-
Executive Director
Master of Management, Asian Institute of Management (Philippines)
Tuan Syed Elias, 67, a Malaysian, was appointed to the Board on 1 December
2009. He has over 45 years of experience in domestic and international banking
and financial sector. He started his career with Malayan Banking Berhad and
later, Bank Bumiputra Malaysia Berhad, where he held various senior positions at
both banks between 1966 to 1982 including that of General Manager, International
Banking (last position held). He was also formerly the Executive Director of Merrill Lynch, Asia Pacific District from 1987
to 1998, Chief Operating Officer of Hong Leong Group Capital from 1990 to 2001 and Managing Director of Babcock &
Brown,Asia Pacific from 2002 to 2008. He was the Group Executive Director of Realmild Sdn Bhd from 2008 to 2009. He
has not been convicted of any offence within the past ten (10) years.Effective from his appointment,
Tuan Syed Elias attended 5 out of 5 Board Meetings held in the financial period.
Tan Sri Ismail bin Adam Independent Non-Executive Director
Master of Arts (Economics), Vanderbilt University (USA)
Bachelor of Arts (Hons), University of Malaya
Diploma in Public Administration (Post-Baccalaureate Diploma), University of Malaya
Advanced Management Program, Harvard Business School
Tan Sri Ismail, 60, a Malaysian, was appointed to the Board on 3 January 2011.
He is currently the Advisor to HayGroup Sdn Bhd.He started his career with
the civil service where he had held various senior positions including that of
Chief Administration Offi cer of the Department of Statistics, Director-General of National Productivity Corporation, and
Secretary General of Ministry of Health.He has not been convicted of any offence within the past ten (10) years.
He did not attend any Board Meetings held during the financial period as he was appointed
on 3 January 2011.
19BIMB HOLDINGS BERHAD 423858-X
CEOs in the Group
Encik Johan bin Abdullah
Group Managing Director / Chief Executive Offi cer
BIMB Holdings Berhad
Dato' Sri Zukri bin Samat
Managing Director
Bank Islam Malaysia Berhad
Dato' Mohamed Hassan bin Md. Kamil
Group Managing Director
Syarikat Takaful Malaysia Berhad
Encik Rashid bin Ismail
Chief Executive Officer
BIMB Securities Sdn. Bhd.
20 BIMB HOLDINGS BERHAD 423858-X
Management Comittee
seated from left: standing from left:
Encik Johan bin Abdullah Encik Junady bin Nawawi Encik Aidil Haznul bin Zulkifli
Group Managing Director/Chief Executive Officer Head, Corporate Strategy & Senior Manager, Legal
Transformation Management
Encik Mohamad Azlan bin Mohamad Alam Tengku Maizura binti Tengku Ishak
Group Chief Financial Officer Head, Corporate Services
21BIMB HOLDINGS BERHAD 423858-X
5-years Group Financial Highlight
2006 2007 2008 2009 2010
RM000 RM000 RM000 RM000 RM000
Restated (Note 1)
Share Capital 562,965 891,390 891,390 1,066,790 1,066,790
Shareholders Funds (145,890) 921,188 1,005,284 1,272,533 1,654,735
Deposits from Customers 14,148,593 17,388,633 20,535,907 24,871,451 26,798,107
Takaful Funds 2,445,551 2,635,212 3,197,799 3,452,341 3,954,559
Financing of Customers 8,601,387 8,403,285 9,055,028 9,661,864 11,860,631
Investments 2,622,481 4,002,831 3,734,094 9,092,943 15,432,490
Total Assets 17,742,000 22,551,201 27,582,097 31,898,208 35,490,831
Revenue 1,115,953 1,858,669 1,426,814 1,490,180 2,596,313
Profit/(Loss) before Zakat
and Taxation (1,177,939) 909,105 379,615 299,132 588,155
Net Profit/(Loss) (1,230,008) 787,762 236,198 113,659 230,837
Dividend Less Taxation - 13,193 9,693 9,601 24,802*
Financing to Deposit Ratio (%) 60.79 48.33 44.09 38.85 44.26
Gross Impaired/
Non-Performing Financing (%) 22.17 22.40 18.65 12.70 4.50
Net Impaired/
Non-Performing Financing (%) 9.15 11.44 7.82 4.90 1.08
Earning/(Loss) per Share (sen) (218.49) 97.86 26.50 12.69 21.64
Net Tangible Assets per Share
(RM) (0.26) 1.03 1.13 1.19 1.55
Gross Dividend per Share (%) - 2.00 1.45 1.20 3.10*
Net Dividend per Share (%) - 1.48 1.09 0.90 2.33*
Note 1 Change in accounting year from 30 June to 31 December, with transitional financial period of 18 months
for 2010.
* Including a proposed final dividend of 1.60% less 25% tax subject to shareholders approval at the forthcoming
Annual General Meeting.
22 BIMB HOLDINGS BERHAD 423858-X
5-years Group Financial Highlight
23BIMB HOLDINGS BERHAD 423858-X
Directors’ Report
The Directors have pleasure in submitting their report and the audited financial statements of the Group and of the
Company for the 18 months financial period ended 31 December 2010.
PRINCIPAL ACTIVITIES
The Company is principally engaged as an investment holding company with business transacted in accordance with
Islamic principles,whilst the principal activities of the subsidiaries are as stated in Note 14 to the financial statements.
There has been no significant change in the nature of these activities during the financial period.
CHANGE IN FINANCIAL YEAR END
The Group and the Company have changed its financial year end from 30 June to 31 December to coincide with the
financial year end of its holding corporation, Lembaga Tabung Haji. Hence the financial statements are for the 18
months financial period ended 31 December 2010.
RESULTS
Group Company
RM 000 RM 000
Profit for the period attributable to:
Shareholders of the Company 230,837 30,188
Minority interests 219,628 -
450,465 30,188
RESERVES AND PROVISIONS
There were no material transfers to or from reserves and provisions during the fi nancial period under review except as
disclosed in the financial statements.
DIVIDENDS
Since the end of the previous financial year, the Company paid:
i) a final ordinary dividend of 1.20 sen per ordinary share less tax at 25% totalling RM9,601,109 (0.90 sen net per
ordinary share) in respect of the year ended 30 June 2009 on 17 December 2009; and
ii) an interim ordinary dividend of 1.50 sen per ordinary share less tax at 25% totalling RM12,001,386 (1.12 sen net per
ordinary share) in respect of the 18 months fi nancial period ended 31 December 2010 on 1 October 2010.
The final ordinary dividend recommended by the Directors in respect of the 18 months fi nancial period ended 31
December 2010 is 1.60 sen per ordinary share less tax at 25% totalling RM12,801,479 (1.20 sen net per ordinary share).
IMPAIRED FINANCING
Before the financial statements of the Group and of the Company were made out, the Directors took reasonable steps
to ascertain that proper actions had been taken in relation to the writing off of bad financing and the making of
impairment allowance for impaired financing.
FOR THE 18 MONTHS FINANCIAL PERIOD ENDED 31 DECEMBER 2010
24 BIMB HOLDINGS BERHAD 423858-X
Group Company
Note 31.12.2010 30.6.2009 31.12.2010 30.6.2009
RM '000 RM '000 RM '000 RM '000
Assets
Cash and short term funds 3 2,762,195 8,482,444 63,815 224,701
Deposits and placements with financial institutions 4 412,798 90,682 - -
Financial assets held-for-trading 5 2,279,891 294,868 - -
Derivative financial assets 6 44,326 19,776 - -
Financial assets available-for-sale 7 12,936,655 8,635,312 12,229 12,187
Financial assets held-to-maturity 8 215,944 162,763 - -
Financing, advances and others 9 11,860,631 9,661,864 - 100,000
Other assets 10 200,727 190,681 252 532
Statutory deposits with Bank Negara Malaysia 11 10,000 139,729 - -
Current tax assets Assets classified as held for sale 12 30,316 13,694 1,682 1,190
Deferred tax assets 13 59,023 71,646 1,659 1,659
Investments in subsidiaries 14 - - 1,557,642 1,295,231
Investment in associate 15 1 149 1 149
Property, plant and equipment 16 195,586 160,714 433 770
Prepaid lease payments 17 23,989 24,800 - -
General Takaful and Family Takaful assets 18 4,458,749 3,947,615 - -
Total assets 35,490,831 31,898,208 1,637,713 1,636,419
Liabilities
Deposits from customers 19 26,798,107 24,871,451 - -
Deposits and placements of banks and
other financial institutions 20 378,129 8,078 - -
Derivative financial liabilities 6 30,926 21,811 - -
Bills and acceptances payable 163,191 283,212 - -
Other liabilities 21 503,062 365,959 684 8,018
Zakat and tax 37,975 33,188 - -
General Takaful and Family
Takaful liabilities 18 504,190 495,274 - -
General Takaful and
Family Takaful participants' funds 18 3,954,559 3,452,341 - -
Total liabilities 32,370,139 29,531,314 684 8,018
Equity
Share capital 23 1,066,790 1,066,790 1,066,790 1,066,790
Reserves 587,945 205,743 570,239 561,611
Total equity attributable to
shareholders of the Company 1,654,735 1,272,533 1,637,029 1,628,401
Minority interests 1,465,957 1,094,361 - -
Total equity 3,120,692 2,366,894 1,637,029 1,628,401
Total equity and liabilities 35,490,831 31,898,208 1,637,713 1,636,419
The notes on pages 67 to 139 are an integral part of these financial statements.
Statements of Financial Position
25BIMB HOLDINGS BERHAD 423858-X
Group Company
31.12.2010 30.6.2009 31.12.2010 30.6.2009
RM '000 RM '000 RM '000 RM '000
Profit for the period/year 450'465 207,708 30,188 13,111
Other comprehensive income
Currency translation differences of foreign operations 36,257 (20,775) - -
Net gain on revaluation of financial assets available-for-sale 73,446 42 - 379
Other comprehensive income for the period/year, net of tax 129,268 52,671 42 379
Total comprehensive income for the period/year 579,733 260,379 30,230 13,490
Attributable to:
Shareholders of the Company Minority interests 297,481 140,890 30,230 13,490
Total comprehensive income for the period/year 579,733 260,379 30,230 13,490
The notes on pages 67 to 139 are an integral part of these financial statements.
Statements of Comprehensive Income
26 BIMB HOLDINGS BERHAD 423858-X
Bank Islam Malaysia Berhad (98127-X)
11th Floor, Wisma Bank Islam
Jalan Dungun, Bukit Damansara
50490 Kuala Lumpur
Tel : 03-2088 8000
Fax : 03- 2088 8028
Al-Wakalah Nominees (Tempatan) Sdn Bhd (122372-P)
11th Floor, Wisma Bank Islam
Jalan Dungun, Bukit Damansara
50490 Kuala Lumpur
Tel : 03-2088 8762
Fax : 03- 2088 8742
BIMB Investment Management Berhad (276246-X)
15th Floor, Menara Tun Razak
Jalan Raja Laut
50350 Kuala Lumpur
Tel : 03-2694 6617
Fax : 03-2694 3516
BIMB Foreign Currency Clearing Agency Sdn Bhd (507913-V)
9th Floor, Menara Tun Razak
Jalan Raja Laut, Peti Surat 11080
50734 Kuala Lumpur
Tel : 03-2693 4287
Fax : 03-2693 4115
Bank Islam Trust Company (Labuan) Ltd (LL04013)
Level 5 (l), Main Offi ce Tower
Financial Park Complex
Jalan Merdeka
87000 Wilayah Persekutuan Labuan
Tel : (6) 087- 451 806
Fax : (6) 03-451 808
BIMB Offshore Company Management Services Sdn Bhd
(587171-M)
Level 5 (I), Main Offi ce Tower
Financial Park Complex
Jalan Merdeka
87000 Wilayah Persekutuan Labuan
Tel : (6) 087- 451 806
Fax : (6) 03-451 808
Farihan Corporation Sdn Bhd (558474-D)
9th Floor, Wisma Bank Islam
Jalan Dungun, Bukit Damansara
50490 Kuala Lumpur
Tel : 03-2088 8000
Fax : 03-2088 860
Syarikat Takaful Malaysia Berhad (131646-K)
26th Floor, Blok Annex
Dataran Kewangan Darul Takaful
No. 4, Jalan Sultan Sulaiman
50000 Kuala Lumpur
Tel : 03-2268 1984
Fax : 03-2274 2864
Asean Retakaful International (L) Ltd (LL01129)
Level 14, Blok 4
Financial Park Complex
Jalan Merdeka
87000 Wilayah Persekutuan Labuan
Tel : 087-451 301 / 087-451 302 / 087-451 303
Fax : 087-451 300
P.T. Syarikat Takaful Indonesia
Graha A, Graha Takaful Indonesia
Jalan Mampang Prapatan Raya
No. 100, Jakarta
12790 Indonesia
Tel : 6221-799 1234 / 6221-799 2345
Regional Group Network
27BIMB HOLDINGS BERHAD 423858-X
P.T. Asuransi Takaful Keluarga
Graha B, Graha Takaful Indonesia
Jalan Mampang Prapatan Raya
No. 100, Jakarta
12790 Indonesia
Tel : 6221-799 1234 / 6221-799 2345
Fax : 6221-790 1435
P.T. Asuransi Takaful Umum
Graha A, Graha Takaful Indonesia
Jalan Mampang Prapatan Raya
No. 100, Jakarta
12790 Indonesia
Tel : 6221-799 1234 / 6221-799 2345
Fax : 6221-790 1944
BIMB Securities (Holdings) Sdn Bhd (290167-V)
Level 18, Menara Yayasan Tun Razak
200, Jalan Bukit Bintang
55100 Kuala Lumpur
Tel : 03-2781 2999
Fax : 03-2781 2998
BIMB Securities Sdn Bhd (290163-X)
32nd Floor, Menara Multi Purpose
Capital Square
No. 8, Jalan Munshi Abdullah
50100 Kuala Lumpur
Tel : 03-2691 8887
Fax : 03-2691 8854
BIMSEC Nominees (Asing) Sdn Bhd (319820-P)
32nd Floor, Menara Multi Purpose
Capital Square
No. 8, Jalan Munshi Abdullah
50100 Kuala Lumpur
Tel : 03-2691 8887
Fax : 03-2691 8854
BIMSEC Nominees (Tempatan) Sdn Bhd (319821-M)
32nd Floor, Menara Multi Purpose
Capital Square
No. 8, Jalan Munshi Abdullah
50100 Kuala Lumpur
Tel : 03-2691 8887
Fax : 03-2691 8854
BIMSEC Asset Management Sdn Bhd (419248-V)
32nd Floor, Menara Multi Purpose
Capital Square
No. 8, Jalan Munshi Abdullah
50100 Kuala Lumpur
Tel : 03-2691 8887
Fax : 03-2691 8854
Syarikat Al-Ijarah Sdn Bhd (112330-P)
Level 18, Menara Yayasan Tun Razak
200, Jalan Bukit Bintang
55100 Kuala Lumpur
Tel : 03-2781 2999
Fax : 03-2781 2998
BIMB Musyarakah Satu Sdn. Bhd. (538579-A)
Level 18, Menara Yayasan Tun Razak
200, Jalan Bukit Bintang
55100 Kuala Lumpur
Tel : 03-27812999
Fax : 03-27812998
Islamic Banking & Finance Institute Malaysia Sdn Bhd
(340040-M)
3rd Floor, Dataran Kewangan Darul Takaful,
Jalan Sultan Sulaiman
50000 Kuala Lumpur
Tel : 03-20311010
Fax : 03-20785250
Regional Group Network
BIMB Holdings Berhad (423858-X)
Level 18, Menara Yayasan Tun Razak
200 Jalan Bukit Bintang
55100 Kuala Lumpur
Tel : +603 2781 2999
Fax : +603 2784 2998
www.bimbholdings.com