BIMB Holdings Annual Report 2011 (Assignment)

Radiating Hope

BIMB HOLDINGS BERHADANNUAL REPORT 2011

This year's Annual Report has as its focus the theme "Radiating hope".It is an apt reflection of how the companies within the BHB Group are continuing to contribute to greater allocative efficiency, market discipline, financial stability, and social responsibility.In a world beset with financial crisis, these strengths inherent in Islamic banking should offer a new ray of hope for achieving the cherished goal of systemic stability.As we work towards a common goal, our IslamicBanking, Takaful, Stockbroking and other related businesses are bringing together their collective strengths and resources to skilfully add a healthy dimension to the international financial system and secure amidst a highly competitive marketplace.

4 BIMB HOLDINGS BERHAD 423858-X

Inside6 Notice of the 13th Annual General Meeting

8 Notice of the 14th Annual General Meeting

10 Statement Accompanying Notice of the 13th Annual General

Meeting

10 Statement Accompanying Notice of the 14th Annual General

Meeting

11 Corporate Profile

12 Corporate Information

13 Group Corporate Structure

14 Directors Profile

18 CEOs in the Group

19 Management Committee

20 5-years Group Financial Highlights

23 Letter to Shareholders

30 Corporate Responsibility

34 2009/2010 Highlights

38 Statement of Corporate Governance

49 Statement on Internal Control

51 Additional Compliance Information

55 Financial Statements

144 Properties Owned by the BHB Group

154 Shareholding Statistics

157 Regional Group Network

Form of Proxy for the 13th AGM of the Company

Form of Proxy for the 14th AGM of the Company

We are committed to provide financial access to all including the underserved community and giving back to the society.

Enhancing Lives

At BIMB Holdings, we believe opportunity exist in most unlikely places.It's when you explore the unfamiliar, you will find ideas that reshape the way you think, feel and experience banking. A t B I M B H o l d i n g s , t he oppor tun i t y i s now here .

Discovering Opportunity

7BIMB HOLDINGS BERHAD 423858-X

Conserving Energy

The BHB Group values the

environment that we operate in

and is committed to protecting it

by promoting innovation through

technology enhancements.

Nurturing Talents

A company is only as good as the people behind it and that is why the BHB Group believes in investing in our most valuable asset our workforce. By continuously providing our talent training and development opportunities, charting their career growth and exploring ways to inspire them, we are setting in place the elements to foster our sustainable growth


NOTICE IS HEREBY GIVEN THAT the 13th ANNUAL GENERAL MEETING of BIMB Holdings Berhad ("BHB" or "the Company") will be held at Tun Rahah Grand Hall, Level 1, Menara Yayasan Tun Razak, 200 Jalan Bukit Bintang, 55100 Kuala Lumpur on Thursday, 12 May 2011 at 10.00 a.m. for the following purposes:

ORDINARY BUSINESS1. To receive the Audited Financial Statements for the 18 months financial period ended 31 December2010 together with the Reports of the Directors and Auditors thereon. [Ordinary Resolution 1]2. To approve the payment of a fi nal dividend of 1.60% less 25% tax in respect of the 18 months financialperiod ended 31 December 2010. [Ordinary Resolution 2]3. To re-elect the following Directors who are retiring by rotation in accordance with Article 61 of theCompany's Articles of Association and being eligible, have offered themselves for re-election:-a) Encik Zahari @ Mohd Zin bin Idris [Ordinary Resolution 3]b) Encik Johan bin Abdullah [Ordinary Resolution 4]4. To re-elect the following Directors who are retiring in accordance with Article 66 of the Company'sArticles of Association and being eligible, have offered themselves for re-election:-a) Tuan Syed Elias bin Abd. Rahman Alhabshi [Ordinary Resolution 5]b) Puan Rozaida binti Omar [Ordinary Resolution 6]5. To consider and if thought fi t, to pass the following resolution in accordance with Section 129 of theCompanies Act, 1965:-"That Encik Salih Amaran bin Jamiaan, who is retiring in accordance with Section 129 of theCompanies Act, 1965, be and is hereby re-appointed as a Director of the Company to hold offi ce untilthe conclusion of the next Annual General Meeting of the Company." [Ordinary Resolution 7]6. To approve the payment of Directors' fees for the 18 months financial period ended 31 December 2010. [Ordinary Resolution 8]7. To re-appoint Messrs. KPMG Desa Megat & Co. as External Auditors of the Company until the conclusionof the next Annual General Meeting and to authorise the Directors to fix their remuneration.[Ordinary Resolution 9]

SPECIAL BUSINESS8. Proposed Amendment to Article 100 of the Company's Articles of Association on Electronic DividendPayment (eDividend)"That the following existing Article 100 be deleted in its entirety and replaced with the following newArticle 100:-Existing Article 100Any dividend, or other money payable in cash in respect of shares may be paid by cheque or warrantsent through the post directed to the registered address of the holder or, in the case of joint holders tothe registered address of that one of the joint holders who is fi rst named on the Register of Membersor to such person and to such address as the holder or joint holders may in writing direct. Every suchcheque or warrant shall be made payable to the order of the person to whom it is sent. Anyone of twoor more joint holders may give effectual receipts of any dividend, bonuses or other money payable inrespect of the shares held by them as joint holders.Proposed Amendment to Article 100Any dividend, or other money payable in cash in respect of securities may be paid by cheque orwarrant sent through the post directed to the last registered address of the holder or paid viaelectronic transfer of remittance to the bank account provided by the holder whose nameappears in the Register of Members and/or Record of Depositors. Every such cheque or warrant orelectronic transfer of remittance shall be made payable to the order of the person to whom it is sentor remitted, and the payment of any such cheque or warrant or electronic transfer of remittanceshall operate as a good discharge of the Company's obligation in respect of the dividend, interestor other money payable in cash thereby represented.

Notice of the 13th Annual General Meeting


NOTICE OF DIVIDEND ENTITLEMENT AND PAYMENTNOTICE IS HEREBY GIVEN THAT subject to the shareholders' approval under Ordinary Resolution 2 at the 13th Annual GeneralMeeting of the Company to be held on Thursday, 12 May 2011, a fi nal dividend of 1.60% less 25% tax in respect of the 18 monthsfinancial period ended 31 December 2010 will be paid on 15 June 2011 to shareholders whose names appear on the Record ofDepositors as at 27 May 2011.FURTHER NOTICE IS ALSO HEREBY GIVEN that a shareholder shall qualify for dividend entitlement only in respect of:a) Shares transferred to the depositor's securities account before 4.00 p.m. on 27 May 2011 in respect of ordinary transferb) Shares bought on Bursa Malaysia Securities Berhad on a cum entitlement basis according to the rules of Bursa MalaysiaSecurities Berhad.By Order of the BoardMaria binti Mat Said (LS 0009400)Company SecretaryKuala Lumpur20 April 2011Notes :1. BHB has changed its financial year end from 30 June to 31 December and an announcement has been made to Bursa Malaysia Securities Berhad on 26 October 2009 on the change of fi nancial year end. Pursuant to Section 143(1) of the Companies Act, 1965 which stipulates that an Annual General Meeting ("AGM") must be held once in every calendar year, the Company had applied to the Companies Commission of Malaysia ("CCM") for the extension of time to hold its 13th AGM in respect of the calendar year 2010. Subsequently, CCM had on 15 January 2010 granted its approval for the extension of time to hold the 13th AGM until 31 May 2011. BHB did not hold any AGM in the calendar year 2010. In this regard, the forthcoming 13th AGM will be held to table the 18 months Audited Financial Statements for the financial period made up from 1 July 2009 to 31 December 2010 as well as other ordinary businesses, and this AGM shall be deemed to be held for the calendar year 2010.2. A member of the Company entitled to attend and vote at the meeting may appoint a proxy or proxies to attend and vote instead of himself/herself.3. The instrument appointing a proxy shall:-i) in case of individual, be signed by the appointer or by his attorney; andii) in case of a corporation be either under its common seal or signed by its attorney or by an offi cer on behalf of the corporation.4. Where a member appoints more than one proxy the appointment shall specify the proportions of his holdings to be represented by each proxy.5. All proxy forms should be deposited at the Company's Registered Offi ce, Level 18, Menara Yayasan Tun Razak, 200 Jalan Bukit Bintang, 55100 Kuala Lumpur not less than forty-eight hours before the time fi xed for holding of the meeting or any adjournment thereof.6. Explanatory Note to the Special Businessi) Special Resolution 1- Proposed Amendment to Article 100 of the Company's Articles of Association on Electronic Dividend Payment (eDividend) cheques.

Notice of the 13th Annual General Meeting


Statement AccompanyingNotice of the 13th Annual General Meeting

Statement Pursuant to Paragraph 8.27(2) of the Listing Requirements of Bursa Malaysia Securities Berhad

1. The Directors who are standing for re-election at the 13th AGM of the Company are as follows:-

Article 61 of the Company's Articles of Association

-Encik Zahari @ Mohd Zin bin Idris

-Encik Johan bin Abdullah


-Tuan Syed Elias bin Abd. Rahman Alhabshi

-Puan Rozaida binti Omar

Section 129 of the Companies Act, 1965

-Encik Salih Amaran bin Jamiaan

2. The details of the above Directors are set out in the Directors Profile on pages 14 to 16 of this Annual Report.

Statement AccompanyingNotice of the 14th Annual General Meeting

Statement Pursuant to Paragraph 8.27(2) of the Listing Requirements of Bursa Malaysia Securities Berhad

1. The Directors who are standing for re-election at the 14th AGM of the Company are as follows:-


-Dato' Paduka Ismee bin Ismail

-Puan Zaiton binti Mohd Hassan


-Tan Sri Ismail bin Adam

Section 129 of the Companies Act, 1965

-Encik Salih Amaran bin Jamiaan

2. The details of the above Directors are set out in the Directors Profi le on pages 14 to 16 of this Annual Report


BHB is an investment holding company which operates along Islamic

principles.It holds broad appeal for investors and customers because

of its strong commitment to upholding ethical practices. BHB was

incorporated in Malaysia on 20 March 1997, and was listed on the Main

Market of Bursa Malaysia Securities Berhad on 16 September in the

same year. The authorised capital of BHB is RM2 billion while its paid-

up capital is approximately RM1.07 billion.The core subsidiaries of the

BHB Group are pioneers in various Islamic financial services including

banking, takaful, stockbroking, and other related services.

Corporate Profile


Corporate InformationBOARD OF DIRECTORS

Tan Sri Samsudin bin Osman

Non-Independent Non-Executive

Director/

Chairman

Encik Johan bin Abdullah

Group Managing Director/Chief Executive

Offi cer

Executive Non-Independent Director

Dato' Paduka Ismee bin Ismail

Non-Independent Non-Executive Director

Encik Zahari @ Mohd Zin bin Idris

Independent Non-Executive Director

Puan Zaiton binti Mohd Hassan


Encik Salih Amaran bin Jamiaan


Tuan Syed Elias bin Abd. Rahman

Alhabshi *


Puan Rozaida binti Omar *


Tan Sri Ismail bin Adam *


AUDIT AND EXAMINATION

COMMITTEE


(Chairman)


Encik Salih Amaran bin Jamiaan

Dato' Hairuddin bin Mohamed

(resigned on 1 March 2011)

NOMINATION AND ASSESSMENT

COMMITTEE


(Chairman)



Dato' Mohd Bakke bin Salleh

(resigned on 15 July 2010)

REMUNERATION COMMITTEE


(Chairman)





SPECIAL COMMITTEE


Dato' Sri Zukri bin Samat



SHARIAH SUPERVISORY COUNCIL

BANK ISLAM MALAYSIA BERHAD

Dr. Ahmad Sobri @ Shahbari bin

Salamon

(Chairman)

Haji Mohd Bakir bin Haji Mansor

Dato' Haji Daud bin Muhammad

Dr. Yusof bin Ramli

Dr. Ahmed Mohieldin Ahmed

Dr. Uzaimah binti Ibrahim

Haji Mohd Nazri bin Chik

SHARIAH ADVISORY BODY

SYARIKAT TAKAFUL MALAYSIA BERHAD

Dr. Ahmad Sobri @ Shahbari bin

Salamon

(Chairman)

Datuk Abdul Hamid bin Said

(retired on 1 April 2011)


Dr. Aida binti Othman

Dr. Muhamad Rahimi bin Osman

(appointed on 12 January 2010)

SHARIAH ADVISORY COMMITTEE

BIMB SECURITIES SDN BHD


(Chairman)

Dato' Paduka Dr. Mahmood Zuhdi

bin Haji A. Majid

Dato' Dr. Abdul Halim bin Ismail

Dato' Mohd Bakke bin Salleh *


Dato' Dr. Abdul Halim bin Ismail *


Dato' Hairuddin bin Mohamed *


* Tuan Syed Elias bin Abd. Rahman

Alhabshi

(appointed on 1 December 2009)

Puan Rozaida binti Omar

(appointed on 1 December 2009)

Tan Sri Ismail bin Adam

(appointed on 3 January 2011)



Dato' Dr. Abdul Halim bin Ismail

(retired on 1 December 2010)



CEOs IN THE GROUP


Group Managing Director/Chief Executive

Officer

BIMB Holdings Berhad


Managing Director

Bank Islam Malaysia Berhad

Dato' Mohamed Hassan bin Md. Kamil

Group Managing Director

Syarikat Takaful Malaysia Berhad

Encik Rashid bin Ismail

Chief Executive Offi cer

BIMB Securities Sdn. Bhd.

COMPANY SECRETARY

Puan Maria binti Mat Said (LS 0009400)

AUDITORS

KPMG Desa Megat & Co (AF 0759)

Level 10, KPMG Tower

8 First Avenue, Bandar Utama

47800 Petaling Jaya, Selangor

REGISTERED OFFICE

Level 18, Menara Yayasan Tun Razak

200 Jalan Bukit Bintang

55100 Kuala Lumpur

Tel: +603 2781 2999

Fax: +603 2781 2998

Website: www.bimbholdings.com

SHARE REGISTRAR

Symphony Share Registrars Sdn. Bhd.

Level 6, Symphony House

Pusat Dagangan Dana 1

Jalan PJU 1A/46

47301 Petaling Jaya

Tel: +603 78418000

Fax: +603 78418152

STOCK EXCHANGE LISTING

Main Market of Bursa Malaysia

Securities Berhad

16 September 1997


Group Corporate Structure

BankingStock &Share Broking

Leasingof Assets

Investment Holding- Venture Capital OthersTakaful

51%

Bank Islam

Malaysia Berhad

65.22%

Syarikat Takaful

Malaysia Berhad

100%

BIMB Securities

(Holdings) Sdn.

Bhd.

100%

Syarikat Al-Ijarah

Sdn. Bhd.

100%

BIMB Musyarakah

Satu Sdn. Bhd.

48%

Islamic Banking &

Finance Institute

Malaysia Sdn.

Bhd. *

51%

BIMB Securities

Sdn. Bhd.

100%

BIMSEC

Nominees

(Asing)

Sdn. Bhd.

100%

BIMSEC

Nominees

(Tempatan)

Sdn. Bhd.

100%

BIMSEC Asset

Management

Sdn. Bhd.

63.09%

ASEAN Retakaful

International

(L) Ltd

56.00%

P.T. Syarikat

Takaful

Indonesia

64.70%

P. T.

Asuransi

Takaful

Umum

74.78%

P. T.

Asuransi

Takaful

Keluarga

100%

BIMB Investment

Management

Berhad

100%

BIMB Foreign

Currency Clearing

Agency Sdn. Bhd.

100%

Al-Wakalah

Nominees

(Tempatan)

Sdn. Bhd.

80%

Farihan

Corporation

Sdn. Bhd.

100%

Bank Islam Trust

Company

(Labuan) Ltd

100%

BIMB Offshore

Company

Management

Services

Sdn. Bhd.


Tan Sri Samsudin bin Osman Chairman/Non-Independent Non-Executive Director

Master in Public Administration, Pennsylvania State University (USA)

Bachelor of Arts (Hons), University of Malaya

Diploma in Public Administration, University of Malaya

Tan Sri Samsudin, 64, a Malaysian, was appointed to the Board on 1 February

2007. He is currently the President of Perbadanan Putrajaya. He is also the

Chairman of the Employees Provident Fund ("EPF") Board, EPF Investment Panel

and Board of University Utara Malaysia. Tan Sri Samsudin also sits on the Board

of Sime Darby Berhad as a Director. From 2001 to 2006, .He has not been convicted of any offence within the past ten

(10) years.

He attended 7 out of 8 Board Meetings held in the financial period.

Dato' Paduka Ismee bin Ismail Non-Independent Non-Executive Director

Associate Member of Chartered Institute of Management Accountants

Member of Malaysian Institute of Accountants

Dato' Paduka Ismee, 46, a Malaysian, was appointed to the Board on 9 October

2006. He is a member of the Nomination and Assessment Committee and the

Remuneration Committee of BHB. He is currently the Group Managing Director and

Chief Executive Offi cer of Lembaga Tabung Haji ("TH").He is also the Chairman

of Syarikat Takaful Malaysia Berhad and a Director of Bank Islam Malaysia

Berhad, TH Plantations Berhad, KFC Holdings Malaysia Berhad, Johor Corporation and 1Malaysia Development Berhad. Prior

to joining TH, he was the Chief Executive Offi cer of ECM Libra Securities and a Director of ECM Libra Capital Sdn Bhd.

He has not been convicted of any offence within the past ten (10) years.


Director’s Profile


Encik Zahari @ Mohd Zin bin Idris Independent Non-Executive Director

Senior Cambridge Certificate

Encik Zahari, 67, a Malaysian, was appointed to the Board on 20 September

2002. He is the Chairman of the Audit and Examination Committee and is also a

member of the Nomination and Assessment Committee, Remuneration Committee

and Special Board Committee of BHB. He is also a Director of Bank Islam Malaysia

Berhad. He began his career with Malayan Banking Berhad ("Maybank"), whereby

between 1962 to 1996, he held various senior positions in Maybank, including that

of General Manager, Commercial Banking Division (last position held).He has not been convicted of any offence within the

past ten (10) years.


Encik Salih Amaran bin Jamiaan Non-Independent Non-Executive Director

Master in Business Administration, Wharton School, University of Pennsylvania (USA)

Diploma in Public Administration, Victoria University, Wellington (New Zealand)

Bachelor of Science (Economics), London School of Economics and Political Science, University

of London (UK)

Encik Salih Amaran, 71, a Malaysian, was appointed to the Board on 18 February

2005. He is a member of the Audit and Examination Committee of BHB. He

served as Deputy Secretary, Finance Division at the Malaysian Ministry of

Finance; General Manager, International Banking Division of Malayan Banking Berhad; Special Advisor (Economics) of

the Commonwealth Secretariat, London; and Deputy Director, Trade Finance and Promotion Department of the Islamic

Development Bank (IDB) in Jeddah and was the Regional Representative of IDB for Brunei, Indonesia and Malaysia based

in Kuala Lumpur.He has not been convicted of any offence within the past ten (10) years.





Tuan Syed Elias bin Abd. Rahman Alhabshi Non-Independent Non-

Executive Director

Master of Management, Asian Institute of Management (Philippines)

Tuan Syed Elias, 67, a Malaysian, was appointed to the Board on 1 December

2009. He has over 45 years of experience in domestic and international banking

and financial sector. He started his career with Malayan Banking Berhad and

later, Bank Bumiputra Malaysia Berhad, where he held various senior positions at

both banks between 1966 to 1982 including that of General Manager, International

Banking (last position held). He was also formerly the Executive Director of Merrill Lynch, Asia Pacific District from 1987

to 1998, Chief Operating Officer of Hong Leong Group Capital from 1990 to 2001 and Managing Director of Babcock &

Brown,Asia Pacific from 2002 to 2008. He was the Group Executive Director of Realmild Sdn Bhd from 2008 to 2009. He

has not been convicted of any offence within the past ten (10) years.Effective from his appointment,

Tuan Syed Elias attended 5 out of 5 Board Meetings held in the financial period.

Tan Sri Ismail bin Adam Independent Non-Executive Director

Master of Arts (Economics), Vanderbilt University (USA)

Bachelor of Arts (Hons), University of Malaya

Diploma in Public Administration (Post-Baccalaureate Diploma), University of Malaya

Advanced Management Program, Harvard Business School

Tan Sri Ismail, 60, a Malaysian, was appointed to the Board on 3 January 2011.

He is currently the Advisor to HayGroup Sdn Bhd.He started his career with

the civil service where he had held various senior positions including that of

Chief Administration Offi cer of the Department of Statistics, Director-General of National Productivity Corporation, and

Secretary General of Ministry of Health.He has not been convicted of any offence within the past ten (10) years.

He did not attend any Board Meetings held during the financial period as he was appointed

on 3 January 2011.


CEOs in the Group


Group Managing Director / Chief Executive Offi cer

BIMB Holdings Berhad


Managing Director

Bank Islam Malaysia Berhad

Dato' Mohamed Hassan bin Md. Kamil

Group Managing Director

Syarikat Takaful Malaysia Berhad

Encik Rashid bin Ismail

Chief Executive Officer

BIMB Securities Sdn. Bhd.


Management Comittee

seated from left: standing from left:

Encik Johan bin Abdullah Encik Junady bin Nawawi Encik Aidil Haznul bin Zulkifli

Group Managing Director/Chief Executive Officer Head, Corporate Strategy & Senior Manager, Legal

Transformation Management

Encik Mohamad Azlan bin Mohamad Alam Tengku Maizura binti Tengku Ishak

Group Chief Financial Officer Head, Corporate Services


5-years Group Financial Highlight

2006 2007 2008 2009 2010

RM000 RM000 RM000 RM000 RM000

Restated (Note 1)

Share Capital 562,965 891,390 891,390 1,066,790 1,066,790

Shareholders Funds (145,890) 921,188 1,005,284 1,272,533 1,654,735

Deposits from Customers 14,148,593 17,388,633 20,535,907 24,871,451 26,798,107

Takaful Funds 2,445,551 2,635,212 3,197,799 3,452,341 3,954,559

Financing of Customers 8,601,387 8,403,285 9,055,028 9,661,864 11,860,631

Investments 2,622,481 4,002,831 3,734,094 9,092,943 15,432,490

Total Assets 17,742,000 22,551,201 27,582,097 31,898,208 35,490,831

Revenue 1,115,953 1,858,669 1,426,814 1,490,180 2,596,313

Profit/(Loss) before Zakat

and Taxation (1,177,939) 909,105 379,615 299,132 588,155

Net Profit/(Loss) (1,230,008) 787,762 236,198 113,659 230,837

Dividend Less Taxation - 13,193 9,693 9,601 24,802*

Financing to Deposit Ratio (%) 60.79 48.33 44.09 38.85 44.26

Gross Impaired/

Non-Performing Financing (%) 22.17 22.40 18.65 12.70 4.50

Net Impaired/

Non-Performing Financing (%) 9.15 11.44 7.82 4.90 1.08

Earning/(Loss) per Share (sen) (218.49) 97.86 26.50 12.69 21.64

Net Tangible Assets per Share

(RM) (0.26) 1.03 1.13 1.19 1.55

Gross Dividend per Share (%) - 2.00 1.45 1.20 3.10*

Net Dividend per Share (%) - 1.48 1.09 0.90 2.33*

Note 1 Change in accounting year from 30 June to 31 December, with transitional financial period of 18 months

for 2010.

* Including a proposed final dividend of 1.60% less 25% tax subject to shareholders approval at the forthcoming

Annual General Meeting.


5-years Group Financial Highlight


Directors’ Report

The Directors have pleasure in submitting their report and the audited financial statements of the Group and of the

Company for the 18 months financial period ended 31 December 2010.

PRINCIPAL ACTIVITIES

The Company is principally engaged as an investment holding company with business transacted in accordance with

Islamic principles,whilst the principal activities of the subsidiaries are as stated in Note 14 to the financial statements.

There has been no significant change in the nature of these activities during the financial period.

CHANGE IN FINANCIAL YEAR END

The Group and the Company have changed its financial year end from 30 June to 31 December to coincide with the

financial year end of its holding corporation, Lembaga Tabung Haji. Hence the financial statements are for the 18

months financial period ended 31 December 2010.

RESULTS

Group Company

RM 000 RM 000

Profit for the period attributable to:

Shareholders of the Company 230,837 30,188

Minority interests 219,628 -

450,465 30,188

RESERVES AND PROVISIONS

There were no material transfers to or from reserves and provisions during the fi nancial period under review except as

disclosed in the financial statements.

DIVIDENDS

Since the end of the previous financial year, the Company paid:

i) a final ordinary dividend of 1.20 sen per ordinary share less tax at 25% totalling RM9,601,109 (0.90 sen net per

ordinary share) in respect of the year ended 30 June 2009 on 17 December 2009; and

ii) an interim ordinary dividend of 1.50 sen per ordinary share less tax at 25% totalling RM12,001,386 (1.12 sen net per

ordinary share) in respect of the 18 months fi nancial period ended 31 December 2010 on 1 October 2010.

The final ordinary dividend recommended by the Directors in respect of the 18 months fi nancial period ended 31

December 2010 is 1.60 sen per ordinary share less tax at 25% totalling RM12,801,479 (1.20 sen net per ordinary share).

IMPAIRED FINANCING

Before the financial statements of the Group and of the Company were made out, the Directors took reasonable steps

to ascertain that proper actions had been taken in relation to the writing off of bad financing and the making of

impairment allowance for impaired financing.

FOR THE 18 MONTHS FINANCIAL PERIOD ENDED 31 DECEMBER 2010


Group Company

Note 31.12.2010 30.6.2009 31.12.2010 30.6.2009

RM '000 RM '000 RM '000 RM '000

Assets

Cash and short term funds 3 2,762,195 8,482,444 63,815 224,701

Deposits and placements with financial institutions 4 412,798 90,682 - -

Financial assets held-for-trading 5 2,279,891 294,868 - -

Derivative financial assets 6 44,326 19,776 - -

Financial assets available-for-sale 7 12,936,655 8,635,312 12,229 12,187

Financial assets held-to-maturity 8 215,944 162,763 - -

Financing, advances and others 9 11,860,631 9,661,864 - 100,000

Other assets 10 200,727 190,681 252 532

Statutory deposits with Bank Negara Malaysia 11 10,000 139,729 - -

Current tax assets Assets classified as held for sale 12 30,316 13,694 1,682 1,190

Deferred tax assets 13 59,023 71,646 1,659 1,659

Investments in subsidiaries 14 - - 1,557,642 1,295,231

Investment in associate 15 1 149 1 149

Property, plant and equipment 16 195,586 160,714 433 770

Prepaid lease payments 17 23,989 24,800 - -

General Takaful and Family Takaful assets 18 4,458,749 3,947,615 - -

Total assets 35,490,831 31,898,208 1,637,713 1,636,419

Liabilities

Deposits from customers 19 26,798,107 24,871,451 - -

Deposits and placements of banks and

other financial institutions 20 378,129 8,078 - -

Derivative financial liabilities 6 30,926 21,811 - -

Bills and acceptances payable 163,191 283,212 - -

Other liabilities 21 503,062 365,959 684 8,018

Zakat and tax 37,975 33,188 - -

General Takaful and Family

Takaful liabilities 18 504,190 495,274 - -

General Takaful and

Family Takaful participants' funds 18 3,954,559 3,452,341 - -

Total liabilities 32,370,139 29,531,314 684 8,018

Equity

Share capital 23 1,066,790 1,066,790 1,066,790 1,066,790

Reserves 587,945 205,743 570,239 561,611

Total equity attributable to

shareholders of the Company 1,654,735 1,272,533 1,637,029 1,628,401

Minority interests 1,465,957 1,094,361 - -

Total equity 3,120,692 2,366,894 1,637,029 1,628,401

Total equity and liabilities 35,490,831 31,898,208 1,637,713 1,636,419

The notes on pages 67 to 139 are an integral part of these financial statements.

Statements of Financial Position


Group Company

31.12.2010 30.6.2009 31.12.2010 30.6.2009

RM '000 RM '000 RM '000 RM '000

Profit for the period/year 450'465 207,708 30,188 13,111

Other comprehensive income

Currency translation differences of foreign operations 36,257 (20,775) - -

Net gain on revaluation of financial assets available-for-sale 73,446 42 - 379

Other comprehensive income for the period/year, net of tax 129,268 52,671 42 379

Total comprehensive income for the period/year 579,733 260,379 30,230 13,490

Attributable to:

Shareholders of the Company Minority interests 297,481 140,890 30,230 13,490

Total comprehensive income for the period/year 579,733 260,379 30,230 13,490

The notes on pages 67 to 139 are an integral part of these financial statements.

Statements of Comprehensive Income


Bank Islam Malaysia Berhad (98127-X)

11th Floor, Wisma Bank Islam

Jalan Dungun, Bukit Damansara

50490 Kuala Lumpur

Tel : 03-2088 8000

Fax : 03- 2088 8028

Al-Wakalah Nominees (Tempatan) Sdn Bhd (122372-P)



50490 Kuala Lumpur

Tel : 03-2088 8762

Fax : 03- 2088 8742

BIMB Investment Management Berhad (276246-X)

15th Floor, Menara Tun Razak

Jalan Raja Laut

50350 Kuala Lumpur

Tel : 03-2694 6617

Fax : 03-2694 3516

BIMB Foreign Currency Clearing Agency Sdn Bhd (507913-V)

9th Floor, Menara Tun Razak

Jalan Raja Laut, Peti Surat 11080

50734 Kuala Lumpur

Tel : 03-2693 4287

Fax : 03-2693 4115

Bank Islam Trust Company (Labuan) Ltd (LL04013)

Level 5 (l), Main Offi ce Tower

Financial Park Complex

Jalan Merdeka

87000 Wilayah Persekutuan Labuan

Tel : (6) 087- 451 806

Fax : (6) 03-451 808

BIMB Offshore Company Management Services Sdn Bhd

(587171-M)

Level 5 (I), Main Offi ce Tower


Jalan Merdeka


Tel : (6) 087- 451 806

Fax : (6) 03-451 808

Farihan Corporation Sdn Bhd (558474-D)



50490 Kuala Lumpur

Tel : 03-2088 8000

Fax : 03-2088 860

Syarikat Takaful Malaysia Berhad (131646-K)

26th Floor, Blok Annex

Dataran Kewangan Darul Takaful

No. 4, Jalan Sultan Sulaiman

50000 Kuala Lumpur

Tel : 03-2268 1984

Fax : 03-2274 2864

Asean Retakaful International (L) Ltd (LL01129)

Level 14, Blok 4


Jalan Merdeka


Tel : 087-451 301 / 087-451 302 / 087-451 303

Fax : 087-451 300

P.T. Syarikat Takaful Indonesia

Graha A, Graha Takaful Indonesia

Jalan Mampang Prapatan Raya

No. 100, Jakarta

12790 Indonesia

Tel : 6221-799 1234 / 6221-799 2345

Regional Group Network


P.T. Asuransi Takaful Keluarga

Graha B, Graha Takaful Indonesia


No. 100, Jakarta

12790 Indonesia

Tel : 6221-799 1234 / 6221-799 2345

Fax : 6221-790 1435

P.T. Asuransi Takaful Umum

Graha A, Graha Takaful Indonesia


No. 100, Jakarta

12790 Indonesia

Tel : 6221-799 1234 / 6221-799 2345

Fax : 6221-790 1944

BIMB Securities (Holdings) Sdn Bhd (290167-V)


200, Jalan Bukit Bintang

55100 Kuala Lumpur

Tel : 03-2781 2999

Fax : 03-2781 2998

BIMB Securities Sdn Bhd (290163-X)

32nd Floor, Menara Multi Purpose

Capital Square

No. 8, Jalan Munshi Abdullah

50100 Kuala Lumpur

Tel : 03-2691 8887

Fax : 03-2691 8854

BIMSEC Nominees (Asing) Sdn Bhd (319820-P)


Capital Square


50100 Kuala Lumpur

Tel : 03-2691 8887

Fax : 03-2691 8854

BIMSEC Nominees (Tempatan) Sdn Bhd (319821-M)


Capital Square


50100 Kuala Lumpur

Tel : 03-2691 8887

Fax : 03-2691 8854

BIMSEC Asset Management Sdn Bhd (419248-V)


Capital Square


50100 Kuala Lumpur

Tel : 03-2691 8887

Fax : 03-2691 8854

Syarikat Al-Ijarah Sdn Bhd (112330-P)



55100 Kuala Lumpur

Tel : 03-2781 2999

Fax : 03-2781 2998

BIMB Musyarakah Satu Sdn. Bhd. (538579-A)



55100 Kuala Lumpur

Tel : 03-27812999

Fax : 03-27812998

Islamic Banking & Finance Institute Malaysia Sdn Bhd

(340040-M)

3rd Floor, Dataran Kewangan Darul Takaful,

Jalan Sultan Sulaiman

50000 Kuala Lumpur

Tel : 03-20311010

Fax : 03-20785250

Regional Group Network

BIMB Holdings Berhad (423858-X)


200 Jalan Bukit Bintang

55100 Kuala Lumpur

Tel : +603 2781 2999

Fax : +603 2784 2998

www.bimbholdings.com

Documents

BIMB Holdings Annual Report 2011 (Assignment)