By Isabella Steger
As Malaysia’s CIMB Group embarks upon a journey it hopes to finish as a major regional investment bank, Deal Journal is taking a look at its track record to size up its chances.
In 2011, CIMB ranked a not-too-shabby 18th in investment-banking revenue in Asia excluding Japan, according to Dealogic data, at $132 million. That put it one slot ahead of another Southeast Asian champion, Singapore’s DBS Group Holdings Ltd. The rest of the top 20 was dominated by the usual big Western names, as well as Chinese players.
Needless to say, CIMB has a near-stranglehold on investment banking in Malaysia, but in October 2010 it also made a mark on the regional scene in as one of 11 bookrunners on AIA Group’s $21 billion initial public offering in Hong Kong.
In Southeast Asia, CIMB–whose CEO, Nazir Razak, is the brother of Malaysian Prime Minister Najib Razak–is firmly the top investment bank in revenue, with a leading 9.3% market share last year. DBS was fourth, two spaces ahead of CIMB rival Maybank Investment Bank Bhd., part of Malayan Banking Bhd.
Maybank too has been working to bolster its regional credentials, working on a number of IPOs in Indonesia and Thailand—including PT Indofood CBP’s listing in Jakarta in 2010, which raised $692 million. It further expanded its footprint in the region when it acquired Singapore brokerage firm Kim Eng Holdings Ltd. for $1.4 billion last year.