CIMB VENTURES INTO INDIA

KUALA LUMPUR, Aug 2 (Bernama) -- CIMB Group has entered into India's
market with the opening of its Mumbai office as well as the signing of a
Business Cooperation Arrangement with Kotak Mahindra Bank Ltd.

In a statement Tuesday, CIMB Group Chief Executive Officer Nazir Razak said
the Mumbai representative office in Bandra Kurla Complex was CIMB's first step
into India.

CIMB’s partnership with Kotak is in the form of a Business Cooperation
Arrangement, where the both parties will cooperate and explore opportunities
arising from cross border investments and trade flows, with a focus on selected
countries in the India-Asean corridor.

The cooperation is expected to cover areas of mutual interest including
merger and acquisition advisory, trade finance and remittance.

Nazir said during the first two months of the current financial year, Asean
absorbed 21 per cent of India’s outward investments of US$5 billion.

"Given our strong cultural linkages and India’s position as a major trade
and investment partner for Malaysia and the region, CIMB is positioning itself
to facilitate the flow of goods, capital and business partnerships between India
and Asean.

"Between 2007 and June 2011, there was approximately US$13.2 billion of deal
activities between India and Asean, with Asean emerging as a significant
destination for India’s outward foreign direct investments (FDI) amounting to
US$12 billion, or some 27 per cent of overall investments of US$43.9 billion in
2010 to 2011," he said, citing Reserve Bank of India, as source.

Nazir added that the partnership with Kotak was an important strategic move
for CIMB Group as the associated fit between the two organisations was obvious,
and given the expected business flows between India and Asean, this partnership
would prove a great success.