General Announcement

13/02/2004

Termination of Memorandum of Understanding ("MOU") Between Commerce International Merchant Bankers Berhad and Al-Tawfeek Company for Investment Funds Limited

CIMB BERHAD

Type

Announcement
SubjectTermination of Memorandum of Understanding ("MOU") Between Commerce International Merchant Bankers Berhad and Al-Tawfeek Company for Investment Funds Limited

Contents :

Further to the announcement made by CIMB Berhad ("the Company") on 21 October 2003 in respect of the MOU signed between Commerce International Merchant Bankers Berhad ("CIMB"), a wholly-owned subsidiary of the Company, and Al-Tawfeek Company for Investment Funds Limited of the Cayman Islands ("Al-Tawfeek"), for the purpose of establishing an alliance to jointly undertake Islamic banking activities globally, the Company wishes to announce that CIMB and Al-Tawfeek have mutually agreed to terminate the MOU with effect from 11 February 2004.


The parties have decided not to proceed with the formalisation of the alliance after having deliberated on the matter during the tenure of the MOU. However, both parties will work towards maintaining and enhancing the good relationship that exists between them.


This announcement is dated 13 February 2004.


Announcement Info

Company NameCIMB BERHAD  
Stock Name CIMB
Date Announced13 Feb 2004  
CategoryGeneral Announcement
Reference NoCC-040213-61535

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