General Announcement

01/11/2004

CIMB BERHAD("CIMB" OR "COMPANY") PROPOSED JOINT VENTURE WITH MAPLETREE CAPITAL MANAGEMENT PTE LTD ("MCM")

CIMB BERHAD

Type

Announcement
SubjectCIMB BERHAD("CIMB" OR "COMPANY")
PROPOSED JOINT VENTURE WITH MAPLETREE CAPITAL MANAGEMENT PTE LTD ("MCM")

Contents :

1. INTRODUCTION

      CIMB is pleased to announce a proposed joint venture with MCM (Proposed JV) for the purpose of developing real estate funds in Malaysia and as a platform for the provision of real estate investment expertise in Malaysia by combining CIMBs and MCMs expertise in structured finance and real estate.
      MCM is a private limited company incorporated in Singapore. MCM is a wholly-owned subsidiary of Mapletree Investments Pte Ltd (Mapletree), which is in turn is a wholly-owned subsidiary of Temasek Holdings (Private) Limited, Singapore. The Mapletree group is a leading real estate group in Singapore with an asset size of approximately SGD2.5 billion.
2. INFORMATION ON PROPOSED JV
      CIMB and MCM proposed to enter into the Proposed JV through a special purpose vehicle to be incorporated in Malaysia (SPV). CIMBs participation in the SPV will be made through a wholly-owned subsidiary to be incorporated by CIMB.

      The Proposed JV is subject to the approvals of the relevant authorities.

      A joint venture agreement will be entered into once the terms and conditions of the Proposed JV have been finalised. Further details of the Proposed JV will be announced upon the signing of the joint venture agreement.

This announcement is dated 1 November 2004.

Announcement Info

Company NameCIMB BERHAD  
Stock Name CIMB
Date Announced1 Nov 2004  
CategoryGeneral Announcement
Reference NoCC-041101-61845

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