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    CIMB   MYL1023OO000

CIMB GROUP HOLDINGS BERHAD

(CIMB)
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MOVES-Citi taps CIMB banker for new TMT role as M&A booms in Southeast Asia

07/08/2021 | 01:58am EDT

SINGAPORE, July 8 (Reuters) - Citigroup has hired Varun Matta, a banker from CIMB Group, for a newly created role covering technology, media and telecoms investment banking in Southeast Asia as regional dealmaking hits a record.

"Asean is home to some of the fastest growing TMT companies globally and we are further intensifying our focus on this sector with this key hire to support our client-led growth across South East Asia," Jan Metzger, Citi's head of Asia Pacific banking, capital markets and advisory, said in an email.

Southeast Asian deals jumped 83% to a record $124.8 billion in the first half of this year, driven by blockbuster transactions including ride-hailing giant Grab's $40 billion merger with U.S. special purpose acquisition company (SPAC) Altimeter Growth Corp.

Singapore-based Matta, who will join Citi as a managing director in October, will report to Jim Perry and Ho-Yin Lee, co-heads of TMT for Asia Pacific, and David Biller, head of Southeast Asia banking, capital markets and advisory business.

Matta headed the M&A and financial sponsors business at CIMB, where he worked for three years, and previously had a six-year stint at Credit Suisse, among other roles.

Citi advised Indonesian e-commerce leader Tokopedia on a $18 billion merger with Grab's rival Gojek in May, and last month it advised Norway's Telenor on the merger of the telecom firm's Malaysian mobile unit with a subsidiary of Axiata Group . (Reporting by Anshuman Daga; Editing by Shailesh Kuber)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ALTIMETER GROWTH CORP. -1.69% 10.45 Delayed Quote.-18.74%
AXIATA GROUP BERHAD -1.76% 3.91 End-of-day quote.4.55%
CIMB GROUP HOLDINGS BERHAD 0.42% 4.82 End-of-day quote.12.09%
CITIGROUP INC. -0.06% 69.96 Delayed Quote.13.46%
MSCI SINGAPORE (GDTR) 0.30% 6552.134 Real-time Quote.12.58%
TELENOR ASA -0.34% 146.2 Real-time Quote.0.21%
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Analyst Recommendations on CIMB GROUP HOLDINGS BERHAD
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Financials
Sales 2021 18 681 M 4 480 M 4 480 M
Net income 2021 4 764 M 1 142 M 1 142 M
Net Debt 2021 - - -
P/E ratio 2021 10,1x
Yield 2021 4,14%
Capitalization 48 268 M 11 571 M 11 575 M
Capi. / Sales 2021 2,58x
Capi. / Sales 2022 2,52x
Nbr of Employees 33 000
Free-Float 73,9%
Chart CIMB GROUP HOLDINGS BERHAD
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Technical analysis trends CIMB GROUP HOLDINGS BERHAD
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 21
Last Close Price 4,82 MYR
Average target price 5,33 MYR
Spread / Average Target 10,6%
EPS Revisions
Managers and Directors
Abdul Rahman bin Ahmad Group Chief Executive Officer & Executive Director
Khairulanwar Rifaie Group Chief Financial Officer
Mohamed Nasir bin Ahmad Group Chairman
Kok Meng Tan Group Chief Technology & Data Officer
Keen Yew Kwan Group Chief Legal & Compliance Officer