KUALA LUMPUR (May 17): BIMB Holdings Bhd is in the midst of reviewing its structure, its chief executive officer (CEO) Datuk Seri Zukri Samat said, with the group looking at various options including the divestment of its stake in Syarikat Takaful Malaysia Bhd and the transfer of listing to Bank Islam Malaysia Bhd.

He revealed that the group is looking at restructuring but said no decision has been made yet.

"We are reviewing the structure of BIMB and the best way to move forward. We are currently talking about the banks, the takaful business as well as BIMB Securities Sdn Bhd," he told reporters today after the group's annual general meeting (AGM), which is also the last AGM for Zukri as CEO of BIMB.

He explained that the group is considering the sale of its 60% stake in Takaful Malaysia, the transfer of listing to Bank Islam and is also looking at roping in a strategic partner for BIMB Securities.

"Currently, BIMB Securities' contribution is not that much but we have seen some improvement in the numbers for 2016, so we are reviewing the business. We currently own 100% of BIMB Securities but if there is a strategic shareholder that wants to take a stake, it is something that we can consider.

"We are reviewing the whole group structure, which at the end of the day may involve all those. We are looking at a holistic restructuring," Zukri said.

However, he said the proposal has not yet reached Bank Negara Malaysia, adding that there is no definite timeline yet on when the restructuring will commence.

On the succession plan for the leadership at BIMB, Zukri said the group has already submitted the list of shortlisted candidates to the authority for approval but declined to reveal details.

"We can't reveal it yet at this juncture, but certainly we hope it will be very soon because my tenure ends on June 8," he said.

"I'm not planning to stay, that I can confirm," he added in jest.

Despite talk that the major shareholder Lembaga Tabung Haji — which owns 53.12% in BIMB — may remove certain directors from the BIMB board, the AGM saw all three directors that were up for renewal — Tan Sri Samsudin Osman, Datuk Rozaida Omar and Datuk Zaiton Mohd Hassan — being re-elected.

At 3.23pm, BIMB shares were traded up 2 sen or 0.45% at RM4.50, with 3.83 million shares done. Its market capitalisation stood at RM7.37 billion.