Page 186 - Full Book_24.4.2021

NOTES TO THE
FINANCIAL STATEMENTS

for the financial year ended 31 december 2020

1 PRINCIPAL ACTIVITIES AND GENERAL INFORMATION
bimb holdings berhad is a public limited liability company, incorporated and domiciled in malaysia and is listed on the main
market of bursa malaysia Securities berhad. the address of its registered office and principal place of business is as follows:
registered office and principal place of business
31 floor, menara bank islam
st
no. 22, Jalan Perak
inteGrated annUal rePort 2020 the consolidated financial statements of the company as at and for the financial year ended 31 december 2020 comprise the
50450 Kuala lumpur

company and its subsidiaries (together referred to as the “Group”).
the company is principally engaged in investment holding activities while the other Group entities are primarily involved in
islamic banking business, managing family and general takaful, and stock-broking businesses.

the ultimate holding entity is lembaga tabung haji (“lth”), a hajj pilgrims’ fund statutory body established in malaysia under
the tabung haji act, 1995 (act 535).
these financial statements were authorised for issue by the board of directors on 14 april 2021.
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2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

the accounting policies set out below have been applied consistently to the periods presented in these financial statements and
bimb holdinGS berhad 199701008362 (423858-X) 2.1 Basis of preparation
have been applied consistently by Group entities, unless otherwise stated.

as disclosed in note 56 and note 57 to the financial statements, bimb holdings berhad (“bhb” or “the company”)

had announced and proposed to undertake various proposals which entails the disposal of its equity interest in bimb
Securities (holdings) Sdn. bhd., bimb Securities Sdn. bhd. and Syarikat al-ijarah Sdn. bhd. to bank islam malaysia berhad
(“bank islam”), the distribution of its shareholdings in bank islam and Syarikat takaful malaysia Keluarga berhad by way
of distribution-in-specie to its shareholders, and subsequently the delisting of the company and issuance of two (2) new
bhb shares to bank islam such that the bhb will become a wholly-owned subsidiary of bank islam. bhb is currently in the
midst of procuring all relevant approvals required for the Proposals from the relevant parties/regulatory authorities.

consequentially, the results of the Group and the company have been disclosed as discontinued operations in the

financial statements and all assets and liabilities are therefore classified as held for sale as at year end in accordance with
the requirements of mfrS 5: non-current assets held for Sale and discontinued operations.