MALAYSIA`S BANK ISLAM EYES ACQUISITIONS IN SOUTHEAST ASIA

KUALA LUMPUR, Jan 29 (Bernama) -- Bank Islam Malaysia Bhd is looking for
merger and acquisition opportunities in the Southeast Asian region, according to
managing director, Zukri Samat.

"We are looking at any opportunity for mergers and acquisitions or taking a
strategic stake in banks around the region," he told reporters, after the
official opening of Bank Islam's 100th branch, here Friday.

The opening was officiated by Second Finance Minister, Ahmad Husni
Hanadzlah.

Zukri said Indonesia is one of the markets Bank Islam is eyeing, adding that
with a population of 250 million, it offers enormous opportunities to grow
Islamic banking.

He said the merger and acquisition exercise is a component under Bank
Islam's sustainable growth plan. The three-year plan is aimed at increasing
organic growth and strengthening the bank's position on the domestic front.

"We are strengthening our position in the domestic market and at the same
time looking for opportunities to grow beyond our shores," he explained.

He said Bank Islam's focus is on Islamic banks and there was no intention to
acquire any conventional bank.

Asked if Bank Islam prefers a strategic or controlling stake, Zukri
said: "Preferably, we would like a controlling stake. But, if there is a good
proposition, we may consider a strategic stake."

-- BERNAMA