CIMB TO ESTABLISH CIMB ASEAN RESEARCH INSTITUTE

KUALA LUMPUR, April 5 (Bernama) -- CIMB Group plans to invest between RM3
million to RM5 million (between US$882,352 to US$1.47 million) annually to
establish the CIMB ASEAN Research Institute (CARI) in Jakarta.

CARI is dedicated to the promotion of Asean integration.

It is also funded and incorporated as a wholly-owned subsidiary of the CIMB
Group while functioning as an independent corporate entity, focused primarily on
Asean economic and social integration.

"There is currently, insufficient critical mass support for Asean
integration. The efforts of the Asean secretariat and that of governments, needs
to be supplemented by the private sector.

"It is important to get the banking integration ahead of business, as banks
fuel businesses," CIMB Group Chief Executive, Nazir Razak said at a press
conference on the sidelines of the 7th Asean Leadership Forum Monday.

Nazir said that CARI also aims to take a pragmatic and problem-solving
approach to arriving at strong positions on key areas such as Free Trade
Agreements (FTAs), non-trade barriers, financial markets integration and
sectoral rules and regulations, besides promoting networking among Asean.
business leaders.

The proposed set-up of CARI is subject to the approval of Malaysia's central
bank Bank Negara Malaysia.

Nazir confirmed that Glenn Yusuf, the first Chairman of the Indonesian Bank
Restructuring Agency and Andrew Sheng, a former Assistant Governor of Bank
Negara Malaysia, are among the members of the CARI board.

Meanwhile, well-known management consultant and academic, John Pang will be
appointed the Chief Executive Officer of CARI.
-- BERNAMA