General Announcement

14/01/2004

Clarification on article in The Star dated 14 January 2004

CIMB BERHAD

Type

Announcement
SubjectClarification on article in The Star dated 14 January 2004

Contents :



We refer to the article in The StarBiz, Page 3, on Wednesday, 14 January 2004, which carried in particular the following statements:

1. "CIMB Berhad is expected to announce its capital reconstruction policy this quarter";

2. "This will probably mean higher dividends in the future"; and

3. "A big dividend payout will bring down CIMB Berhads capital to a more comfortable level."
    CIMB wishes to clarify that since its IPO roadshow in late 2002, CIMBs management has continuously articulated to the investment community that enhanced capital management is a priority of the firm. Consistent with this, CIMB returned a special gross dividend of 21 sen per share to its shareholders in May 2003.

    Going forwards, capital management will continue to be a key priority of the firm. In this regard, management is constantly exploring ways to optimise our capital structure to improve the groups return on equity and overall shareholder value. In this context however, management has to take into consideration the current level and composition of capital, the various opportunities for capital utilisation, the views of its regulators and rating agencies, namely Rating Agency Malaysia and Moodys, as well as future dividend payments.

    Based on the above, any suggestions pertaining to plans for capital reconstruction or dividends are premature.

    This announcement is dated 14 January 2004.

    Announcement Info

    Company NameCIMB BERHAD  
    Stock Name CIMB
    Date Announced14 Jan 2004  
    CategoryGeneral Announcement
    Reference NoCC-040114-66064

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