CIMB's listing on Bangkok deferred to 2011

CIMB Thai unit sees return to profit in first nine months after posting $1.36mln loss.

Malaysia's CIMB Group Holdings Bhd has postponed a plan to list on the Thai bourse to 2011 from the fourth quarter of this year, the head of its Thai unit, CIMB Thai Bank Pcl, said on Wednesday.

"At this point, I don't think they will be able to do the IPO this year," Subhak Siwaraksa told reporters.

Subhak gave no reason for the delay.

He said CIMB Thai expected to return to a net profit in the first nine months of 2010 after posting a 40.6 million baht ($1.36 million) loss a year earlier.

"Although we won't be having any extra item in the third quarter, we already have over 700 million baht in net profit for the first half of this year," he said

CIMB Thai Bank, 93.15 percent owned by Malaysia's number two lender, CIMB Group Holdings, swung back to net profit in the second quarter, posting 365.8 million baht ($12 million) thanks to gains from the disposal of two of its subsidiaries.

View the full story in Reuters.

Follow the link for more news on

Also Read

EnterpriseSG and CEB to boost financing for Singapore firms' overseas expansion

Why do CFOs struggle with sustainability reporting requirements?

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit