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Group’s legacy.

ChAIRMAN’S The Chairmen of BHB Group share their thoughts on the
REFlECTIONS

THE FUTURE OPERATING ENVIRONMENT APPRECIATION &
ACKNOWLEDGEMENTS
Generally speaking, the 2021 GDP is expected to be better than last year. The government
is currently sticking to their 2021 GDP forecast of 6% to 7.5%. However, things are still As I pen these final words of appreciation
fluid now. in the 2020 Integrated Annual Report,
I take pride in having brought BHB to this
From a global overview, the external sector has been quite rosy recently. The US
government, for one, is likely to keep pump-priming the economy with the US Congress momentous point. For the last three years
(2018 to 2020), the Group’s before-tax
INTEGRATED ANNUAL REPORT 2020 USD60 per barrel presently and the Crude Palm Oil (“CPO”) spot prices lingering at despite tight regulatory conditions and
is set to approve the fiscal packages totalling USD1.9 trillion by the end of February.
profits have exceeded RM1 billion
The commodities market also looks promising, with Brent Crude hovering more than
the COVID-19 pandemic. It is a major
RM3,850 per metric tonne. Given that commodities-related export accounted for 20%
milestone for an Islamic institution.
of Malaysia’s total exports in 2020, rising commodity prices, namely Brent Crude and
CPO, would be good for government coffers and the general economy.
Before signing off on this final report,
The number of new COVID-19 cases is currently elevated, although there seems to be an
improvement. The smooth rollout of the nation’s vaccination programme holds the key
our appreciation to the Malaysian
to a sustainable reopening of the economy the Board and I would like to express
government and regulatory authorities,
particularly BNM and the Securities
32 Given the challenging environment, financial institutions will endeavour to sustain return
on equity (“ROE”). It is forecasted that apart from capital management activities, banks Commission. They continue to build on
will buckle down on organic growth and build resilience in their business operations the sound infrastructure and frameworks
by improving fee income, boosting productivity and efficiency, and strengthening for Islamic finance. I would also like to
BIMB HOLDINGS BERHAD 199701008362 (423858-X) regulatory infrastructure that have been instituted and strengthened over the years, as listing status. I am grateful to be allowed
thank my colleagues on the Board for
asset quality. I expect Islamic banking to continue playing a significant role in the
their outstanding service during the year
local economy. Malaysia remains a centre of excellence for the global Islamic banking
and seeing through this transition of
industry and continues to be developed as a global hub. The strong foundation and
per the Financial Sector Blueprint 2011-2020, ensures the industry’s resilient growth and
to serve alongside them and the value
development
they have brought to the Board and the
BHB Group.
Within these uncertain conditions, Islamic banking provides greater confidence over
conventional banking. They are perceived as bound to a higher moral standard, with
Lastly, let me express my heartfelt
earnings derived from tangible assets such as real estate and equity. Therefore, the
contribution of Islamic financing to Malaysian banking system financing is likely to
Council, the Management team and
sustain, supported by the regulatory backdrop that provides a level playing field and
all employees for their unparalleled
banks that continue to promote Islamic products. gratitude to the Shariah Supervisory
commitment and excellent performance,
particularly in this period of change.
Today, we are where we are because of
their sense of responsibility, dedication
and pride in what they do. There is no
doubt in my mind that moving forward,
our businesses will be in a better position
for future, long-term growth.

TAN SRI HAJI AMBRIN BUANG
Chairman