CIMB Group now Malaysia’s most valuable listed firm
Competition for market value and prestige is fierce at Malaysia’s largest banks. CIMB Group Holdings Bhd has edged out Malayan Banking Bhd (Maybank) at close of trading on Tuesday to become Malaysia’s most valuable listed firm — just. Though Malaysian banking shares have all been rising in recent times, CIMB in particular is expected to announce promising figures for Q2, raising its market value to RM 58 billion (US$18.4 billion). Maybank closed at RM57.5 billion.
CIMB will probably post a full year profit of RM3.37 billion ($1.07bn) while Maybank last week posted a record RM3.82 billion for the year to 30 June 2010.
source & article: Business Times
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