Q4 2008 _period ended 01 Jun 2008_ - BIMB Holdings

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Q4 2008 _period ended 01 Jun 2008_ - BIMB Holdings Powered By Docstoc
					BIMB HOLDINGS BERHAD (423858-X)
(Incorporated in Malaysia)

Condensed Consolidated Income Statement
for the Twelve-Month Period Ended 30th June 2008
                                                                                              Cumulative
                                                                   3 months ended          12 months ended
                                                                       30 June                  30 June
                                                                     2008         2007        2008         2007
                                                                  RM'000       RM'000      RM'000       RM'000
                                                         Note   Unaudited     Restated   Unaudited     Restated

Income derived from investment of
   depositors' fund                                      A15     238,793      206,945     918,226      838,438
Income derived from investment of
   shareholders' fund                                    A16     110,183      156,849     492,497      380,647
Allowance for losses on financing                        A17      (20,629)    (62,807)       7,547      (20,184)
Impairment losses                                                 12,367         (950)       2,163      75,002
Profit equalisation reserve                                       16,183       25,430        8,317      (47,921)

Other expenses directly attributable to the investment
   of the depositors' and shareholders' funds                      (3,081)     (3,810)     (11,231)      (3,810)

Total distributable income                                       353,816      321,657    1,417,519    1,222,172
Income attributable to depositors                        A18     (106,283)   (103,976)    (415,089)    (402,415)

Total net income                                                 247,533      217,681    1,002,430     819,757
Personnel expenses                                                (64,446)    (67,058)    (303,218)    (266,853)
Other overhead expenses                                           (99,941)    (87,427)    (269,853)    (209,566)
Depreciation                                                       (7,411)    (24,926)     (46,718)     (45,348)
Impairment loss from property, plant & equipment                      -           -            -        (11,424)

Operating profit / (loss)                                         75,735       38,270     382,641      286,566
Finance cost                                                          -       (13,370)         -        (13,370)

Share in the results of associated
  companies                                                           -           -            -            -
Gain arising from the dilution of interest
  in a subsidiary                                        A19          -           -            -       631,507

Profit / (Loss) before zakat and taxation                         75,735       24,900     382,641      904,703
Zakat                                                              (2,177)     (1,585)     (12,966)      (7,480)
Tax expense                                              B5       81,730          374      66,518        (8,526)

Profit / (Loss) for the period:
   Continuing operations                                         155,288       23,689     436,193      888,697
   Discontinuing operations                                          (849)      4,720         (849)       4,720

Profit / (Loss) for the period                                   154,439       28,409     435,344      893,417

Attributable to:
Shareholders of the Company                                       82,105       17,945     231,445      789,718
Minority Interests                                                72,334       10,464     203,899      103,699

Profit / (Loss) for the period                                   154,439       28,409     435,344      893,417

Earnings Per Share - basic (sen)                         B14         9.21        2.01        25.96        98.10


(The Condensed Consolidated Income Statements should be read in conjunction with the audited financial
statements for the year ended 30th June 2007)




                                                                                                                   1
BIMB HOLDINGS BERHAD (423858-X)
(Incorporated in Malaysia)


Condensed Consolidated Balance Sheet as at 30th June 2008

                                                                                  As at           As at
                                                                           June 30, 2008   June 30, 2007
                                                                                RM'000          RM'000
                                                                    Note      Unaudited        Restated
ASSETS

Cash and short term funds                                                     9,947,702       6,011,154
Deposits and placements with financial institutions                             219,904         255,445
Securities:
  - Held for trading                                                A8           99,789         361,551
  - Held-to-maturity                                                A9          189,446         142,219
  - Available-for-sale                                              A10       3,466,059       3,478,379
Financing, advances and others                                      A11       9,055,688       8,403,285
Deferred tax assets                                                             106,451          16,570
Assets held for sale                                                             39,403          61,528
Other assets                                                                    402,460         136,857
Current tax assets                                                                9,652          43,847
Investment in associates                                                            149             149
Statutory deposit with Bank Negara Malaysia                                     362,151         396,639
Property, plant and equipment                                                   199,252         156,022
Prepaid lease payments                                                           14,610          14,784
Goodwill                                                                            776             776
General Takaful and Family Takaful assets                                     3,645,243       3,110,827

Total assets                                                                 27,758,735      22,590,032

LIABILITIES, EQUITY & TAKAFUL FUNDS

Liabilities
Deposits from customers                                             A13      20,535,393      17,388,633
Deposits and placements of banks and other financial institutions   A14          58,443          33,991
Bills and acceptances payable                                                   990,448         109,189
Other liabilities                                                               410,552         317,418
Liabilities held for sale                                                         3,181           1,006
Provision for zakat and taxation                                                 11,562           6,802
Deferred tax liabilities                                                            362           3,668
General Takaful and Family Takaful liabilities                                  464,884         499,048
General Takaful and Family Takaful participants' funds                        3,180,359       2,611,779
Total liabilities                                                            25,655,184      20,971,534
Equity
Share capital                                                                   891,390         891,390
Reserves                                                                        347,670         100,566
Total equity attributable to shareholders of the Company                      1,239,060         991,956
Minority interests                                                              864,491         626,542
Total equity                                                                  2,103,551       1,618,498


Total equity and liabilities                                                 27,758,735      22,590,032

COMMITMENTS AND CONTINGENCIES                                       A25       9,342,525       4,937,223
Net assets per share attributable to
 ordinary equity holders of the parent (RM)                                        1.39            1.11


(The Condensed Consolidated Balance Sheet should be read in conjunction with the audited financial
statements for the year ended 30th June 2007)

                                                                                                           2
BIMB HOLDINGS BERHAD (423858-X)
(Incorporated in Malaysia)


Condensed Consolidated Statement of Changes in Equity
for the Twelve-Month Period Ended 30th June 2008

                                                                                                  Attributable to Equity Holders of the Parent

                                                                                                              Non-distributable                             Distributable


                                                                                 Share      Share      Statutory   Translation     Capital   Fair Value     Accumulated                   Minority       Total
                                                                                Capital   Premium       Reserve       Reserve     Reserve     Reserve           Losses         Total     Interests      Equity
Group                                                                   Note    RM'000     RM'000        RM'000        RM'000      RM'000      RM'000           RM'000        RM'000       RM'000      RM'000

Audited
At 1 July 2006                                                                  562,965   595,505       200,533        15,535       6,863         (6,110)     (1,521,181)    (145,890)   174,032       28,142
Prior year adjustments                                                              -         -             -             -           -              -             2,864        2,864      1,351        4,215
As restated                                                                     562,965   595,505       200,533        15,535       6,863         (6,110)     (1,518,317)    (143,026)   175,383       32,357
Net gain not recognised in the income statement:
 - Foreign exchange translation differences                                         -         -             -          21,760         -             -                -         21,760     16,829        38,589
 - Unrealised net gain/(loss) on revaluation of securities available-for-sale       -         -             -             -           -          21,717              -         21,717     11,020        32,737
 - Net gain/(loss) on hedge of net investment in foreign operation                  -         -             -         (21,990)        -             -                -        (21,990)       -         (21,990)
Net profit for the period                                                           -         -             -             -           -             -            799,322      799,322    112,924       912,246
Transfer to statutory reserve                                                       -         -         125,644           -           -             -           (125,644)         -          -             -
Transfer to capital reserve                                                         -         -             -             -       631,507           -           (631,507)         -          -             -
Issue of ordinary shares                                                        328,425     7,473           -             -           -             -                -        335,898                  335,898
Issue of ordinary shares by subsidiaries                                            -         -             -             -           -             -                -            -      387,019       387,019
Acquisition of shares held by minority interests of a subsidiary                    -         -             -             -           -             -                -            -      (53,766)      (53,766)
Dividends paid to the minority shareholders                                         -         -             -             -           -             -                -            -       (3,728)       (3,728)
At 30 June 2007           as per AR 2007                                        891,390   602,978       326,177        15,305     638,370        15,607       (1,476,146)   1,013,681    645,681     1,659,362

                                                                                    -         -          (1,449)          -           -              -            1,449                       -
Unaudited                                                                           -         -             -             -           -              -              -             -           -             -
At 1 July 2007            opening balance-as per AR07                           891,390   602,978       326,177        15,305     638,370        15,607       (1,476,146)   1,013,681    645,681     1,659,362
Prior year adjustment                                                               -         -         (10,863)          -           -             -            (10,862)     (21,725)   (19,139)      (40,864)
Restated balance                                                                891,390   602,978       315,314        15,305     638,370        15,607       (1,487,008)     991,956    626,542     1,618,498
Net gain not recognised in the income statement:
 - Foreign exchange translation differences                                         -         -             -          22,985         -              -               -         22,985     22,083        45,068
 - Unrealised net gain/(loss) on revaluation of securities available-for-sale       -         -             -             -           -           17,082             -         17,082     16,413        33,495
 - Net gain/(loss) on hedge of net investment in foreign operation                  -         -             -             -           -          (11,215)            -        (11,215)   (10,775)      (21,990)
Net profit for the period                                                           -         -             -             -           -              -           231,445      231,445    203,899       435,344
Transfer to statutory reserve                                                       -         -         192,059           -           -              -          (192,059)         -          -             -
Issue of ordinary shares by subsidiaries                                            -         -             -             -           -              -               -            -        6,329         6,329
Dividends                                                                A7         -         -             -             -           -              -           (13,193)     (13,193)       -         (13,193)
At 30 June 2008                                                                 891,390   602,978       507,373        38,290     638,370         21,474      (1,460,815)   1,239,060    864,491     2,103,551

(The Condensed Consolidated Statement of Changes in Equity should be read in conjunction with the audited financial statements for the year ended 30th June 2007)




                                                                                                                                                                                                        3
BIMB HOLDINGS BERHAD (423858-X)
(Incorporated in Malaysia)

Condensed Consolidated Cash Flow Statement
for the Twelve-Month Period Ended 30th June 2008

                                                                                        12 months ended
                                                                                   30 Jun.       30 Jun.
                                                                                     2008          2007
                                                                                   RM'000        RM'000
                                                                                 Unaudited     Restated

Cash flows from operating activities

  Profit before zakat and taxation                                                 382,641      904,703
  Adjustment for non-cash flow items:-
    Depreciation                                                                    46,718        45,348
    Impairment losses on securities available-for-sale                              (2,163)      (75,002)
    Allowance for doubtful debts                                                     5,432            10
    Allowance for losses on financing                                               (7,547)       18,828
    Allowance for diminution in investments                                           (580)       (1,242)
    Impairment losses of property, plant and equipment                                 -          11,424
    Property, plant and equipment written off                                          -          11,613
    Dividend income                                                               (303,233)     (172,308)
    Gain on disposal of property, plant and equipment                                  -             (20)
    Gain on disposal of associate                                                      -            (950)
    Gain arising from the dilution of interest in a subsidiary                         -        (631,507)
    Net loss/(gain) on sale of securities held-for-trading                           7,867       (10,900)
    Net gain on sale of securities available-for- sale                             (15,142)       (2,730)
    Foreign exchange translation gain                                               (9,681)      (26,885)
    Dividend received from securities available-for-sale                           (83,652)      (48,037)
    Dividend received from securities held-for-trading                              (2,600)         (352)
    Dividend received from securities held-to-maturity                              (2,504)      (15,857)
    Accretion of discount less amortisation of premium                             (28,272)      (71,882)
    Goodwill written off                                                               -           2,450
  Operating profit/(loss) before working capital changes                           (12,716)      (63,296)
    Changes in working capital:
    Other receivables                                                             (248,910)     (112,941)
    Statutory deposits with Bank Negara Malaysia                                    34,488        63,217
    Bills payable                                                                  881,259         8,270
    Other payables                                                                  95,309        13,299
    Financing of customers                                                        (644,856)      179,274
    Deposits from customers                                                      3,146,760     3,240,040
    Deposit and placements of banks and other financial institutions                24,452       (29,037)
    Increase/(Decrease) in Family & General Takaful                               (568,580)          -
  Cash generated from/(used in) operation                                        2,707,206     3,298,826
  Income taxes paid                                                                  7,526       (34,281)
  Zakat paid                                                                        (8,206)       (4,242)
  Net cash generated from/(used in) operating activities                         2,706,526     3,260,303




(The Condensed Consolidated Cash Flow Statement should be read in conjunction with the Audited Financial
statements for the year ended 30th June 2007)


                                                                                                   4
BIMB HOLDINGS BERHAD (423858-X)
(Incorporated in Malaysia)

Condensed Consolidated Cash Flow Statement
for the Twelve-Month Period Ended 30th June 2008, continued

                                                                                        12 months ended
                                                                                   30 Jun.       30 Jun.
                                                                                     2008          2007
                                                                                   RM'000        RM'000
                                                                                 Unaudited     Restated

Cash flows from investing activities

  Purchase of property, plant and equipment                                        (89,774)      (56,784)
  Proceeds from disposal of property, plant and equipment                              -             187
  Proceeds from disposal of associate                                                                950
  Dividend received                                                                303,233       172,308
  Dividend received from available-for-sale                                         83,652        48,037
  Dividend received from held-for-trading                                            2,600           352
  Dividend received from securities held-to-maturity                                 2,504        15,857
  Net (purchase)/disposal of securities                                            309,302    (1,142,028)
  Net cash (used in)/generated from investing activities                           611,517      (961,121)


Cash flows from financing activities

  Issuance of shares of a subsidiary to minority shareholders                        6,329     1,018,526
  Proceeds from issuance of new ordinary shares                                        -         335,898
  Acquisition of minority shareholders                                                           (56,992)
  (Repayment) of advance from a corporate shareholder                                  -        (280,000)
  Dividend paid to shareholders of the parent                                      (13,193)          -
  Dividend paid to minority shareholders                                                -         (3,728)
  Net cash generated from financing activities                                      (6,864)    1,013,704

Net increase/(decrease) in cash and cash equivalent                              3,311,179     3,312,886

Foreign exchange differences                                                       589,828       11,859

Cash and cash equivalents at the beginning of year                               6,266,599     2,941,854
Cash and cash equivalents at the end of year                                    10,167,606     6,266,599
Cash and cash equivalents comprise:
   Cash and short term funds                                                     9,947,702     6,011,154
   Deposits and placement with financial institutions                              219,904       255,445
                                                                                10,167,606     6,266,599


                                                                                                       -




(The Condensed Consolidated Cash Flow Statement should be read in conjunction with the Audited Financial
statements for the year ended 30th June 2007)



                                                                                                   5
BIMB HOLDINGS BERHAD (423858-X)
(Incorporated in Malaysia)

EXPLANATORY NOTES OF FRS 134: INTERIM FINANCIAL REPORTING (PARAGRAPH 16) AND REVISED GUIDELINES ON FINANCIAL
REPORTING FOR LICENSED ISLAMIC BANKS (GP8-i)


A1   BASIS OF PREPARATION

     The interim financial statements are unaudited and have been prepared in compliance with Financial Reporting Standard ("FRS") 134,
     Interim Financial Reporting (formerly known as MASB 26) issued by the Malaysian Accounting Standard Board (MASB) and Chapter 9, Part
     K (paragraph 9.22) of the Listing Requirements of Bursa Malaysia Securities Berhad. The interim financial statements should be read in
     conjunction with the audited financial statements of the Group for the year ended 30 June 2007.

     These condensed financial statements are prepared using the same accounting policies, methods of computations and basis of
     consolidation adopted to the most recent audited financial statement of the Group for the financial year ended 30 June 2007 except for the
     adoption of the following new and revised FRS which are effective for the Group's financial period beginning 1 January 2007 as follows:

          FRS 107                         Cash Flow Statements
          FRS 112                         Income Taxes
          FRS 117                         Leases
          FRS 118                         Revenue
          Amendment to FRS 121            The effects of Changes in Foreign Exchange Rates - Net Investment in a Foreign Operation
          FRS 124                         Related Party Disclosures
          FRS 134                         Interim Financial Reporting
          FRS 137                         Provisions, Contingent Liabilities and Contingent Assets

     The adoption of FRS 107, 112, 117, 118, 121, 124, 134 and 137 does not have significant financial impact on the Group.

A2   AUDIT REPORT OF PRECEDING FINANCIAL YEAR ENDED 30 JUNE 2007

     The audited report on the financial statements of the preceeding year did not contain any qualification.

A3   SEASONALITY AND CYCLICALITY OF OPERATIONS

     The operations of the Group were not subject to material seasonal or cyclical effects.

A4   EXCEPTIONAL OR UNUSUAL ITEMS


     There were no items of an exceptional or unusual nature that may affect the assets, liabilities, equity, net income or cash flows of the Group.


A5   CHANGES IN ESTIMATES OF AMOUNTS REPORTED PREVIOUSLY

     There were no material changes to the estimates of amounts reported in prior financial years that may have a material effect in the current
     period.

A6   ISSUANCE OR REPAYMENT OF DEBT AND EQUITY SECURITIES

     There were no issuance, cancellation, repurchases, resale and repayments of debt and equity securities for the current period.

A7   DIVIDENDS PAID

                                                                                                                             Cumulative
                                                                                                                          12 months ended
                                                                                                                         30/06/08       30/06/07
                                                                                                                         RM '000        RM '000
     Ordinary

     2007 – 2%, (2006 – Nil)                                                                                          13,193              Nil




                                                                                                                                                       6
BIMB HOLDINGS BERHAD (423858-X)
(Incorporated in Malaysia)

A8    SECURITIES HELD-FOR-TRADING

                                               30/06/08     30/06/07
                                               RM '000      RM '000
      At fair value

      Unquoted securities
      In Malaysia
      Bank Negara Negotiable Notes                 -         99,744
      Islamic Commercial Papers                 29,896          -
      Malaysian Government Investment Issue        -         15,231
      Islamic Debt Securities                   24,563       16,909
      Bankers acceptance                           -        166,276
                                                54,459      298,160
      Quoted securities
      In Malaysia
      Shares                                    45,330       63,391

      Total securities held-for-trading         99,789      361,551
                                                   -            -
A9    SECURITIES HELD-TO-MATURITY

                                               30/06/08     30/06/07
                                               RM '000      RM '000
      At amortised cost

      Unquoted securities
      In Malaysia
      Negotiable Islamic debt certificate          -          5,653
      Islamic Debt Securities                  185,427      162,709
      Bankers acceptance                        19,705          -

      Outside Malaysia
      Others                                     2,594        4,505
                                               207,726      172,867
      Less: Accumulated impairment loss        (18,280)     (30,648)
      Total securities held-to-maturity        189,446      142,219
                                                   -            -
A10   SECURITIES AVAILABLE-FOR-SALE

                                               30/06/08     30/06/07
                                               RM '000      RM '000
      At fair value

      Unquoted securities
      In Malaysia
      Malaysian Government Investment Issue     825,089      791,304
      Unquoted shares                            27,531       30,516
      Promissory notes                            5,604        6,022
      Accepted bills                             73,623      233,166
      Negotiable Islamic Debt Certificate       339,984    1,385,542
      Islamic Commercial Papers                 201,787      113,715
      Islamic Debt Securities                 1,935,364      827,530

      Outside Malaysia
      Islamic Development Bank                    1,928        1,928
      Unquoted shares                            25,858       27,609
      Islamic Debt Securities                    65,320       69,199
                                              3,502,088    3,486,531
      Quoted securities
      In Malaysia
      Amanah Saham Bank Islam                   16,997       31,977
      Shares                                    14,041       17,724
      Outside Malaysia
      Bond                                      16,330       17,263
                                                47,368       66,964
      Less:
      Accumulated impairment losses             (83,397)     (75,116)
      Total securities available-for-sale     3,466,059    3,478,379
                                                    -            -




                                                                        7
BIMB HOLDINGS BERHAD (423858-X)
(Incorporated in Malaysia)

A11   FINANCING, ADVANCES AND OTHER LOANS

      (i)     By type
                                                            30/06/08      30/06/07
                                                            RM '000       RM '000

      Cash line                                             175,463       135,221
      Term financing
             House financing                               5,878,379     5,846,239
             Syndicated financing                            107,339       162,372
             Lease receivables                               208,234       189,640
             Bridging financing                              242,504       266,224
             Personal financing                            2,425,401     1,748,069
             Other term financing                          3,931,417     4,568,644
      Staff financing                                        310,159       295,843
      Credit/charge cards                                    340,100       253,498
      Trade bills discounted                               1,684,209     1,107,109
      Trust receipt                                          175,518       118,413
      Others                                                     615           -
                                                          15,479,338    14,691,272
      Less: Unearned income                               (5,026,137)   (4,906,263)
                                                          10,453,201     9,785,009
      Less: Allowance for bad and doubtful financing:
              General                                       (169,382)     (170,461)
              Specific                                    (1,228,131)   (1,211,263)
      Total net financing, advances and others             9,055,688     8,403,285
                                                                 -             -
      (ii)    By contract

                                                            30/06/08      30/06/07
                                                            RM '000       RM '000

      Bai’ Bithaman Ajil (deferred payment sale)           5,506,976     5,940,707
      Bai’-Al-Inah                                           708,527       442,463
      Ijarah (operating lease)                               243,063       310,177
      Ijarah Muntahia Bittamlik / AITAB (finance lease)       30,334        38,891
      Mudharabah (profit sharing)                              9,249         9,749
      Murabahah (cost-plus)                                1,848,516     1,219,063
      Bai’-Al-Inah Cash Note                               1,583,186     1,261,993
      Istisna'                                               509,988       545,102
      Others                                                  13,362        16,864
                                                          10,453,201     9,785,009
                                                                 -             -
      (iii)   By type of customer

                                                            30/06/08      30/06/07
                                                            RM '000       RM '000

      Domestic non-bank financial institutions                36,587        25,601
      Domestic business enterprise                         2,323,618     2,228,181
      Small medium industries                              1,212,486     1,051,169
      Government & Statutory                                 108,523        68,135
      Individuals                                          6,740,463     6,380,741
      Other domestic entities                                 29,717        29,521
      Foreign entities                                         1,807         1,661
                                                          10,453,201     9,785,009
                                                                 -             -
      (iv)    By profit rate sensitivity

                                                            30/06/08      30/06/07
                                                            RM '000       RM '000

      Fixed rate
            House financing                                2,895,886     2,464,940
            Others                                         6,897,358     7,320,069
      Floating rate                                          659,957           -
                                                          10,453,201     9,785,009
                                                                 -             -




                                                                                      8
BIMB HOLDINGS BERHAD (423858-X)
(Incorporated in Malaysia)

A11   FINANCING, ADVANCES AND OTHER LOANS, continued

      (v)   By economic purposes

                                                                                                            30/06/08      30/06/07
                                                                                                            RM '000       RM '000

      Agriculture, hunting, forestry and fishing                                                            118,141       227,973
      Mining and quarrying                                                                                   30,679         3,496
      Manufacturing                                                                                       1,166,209     1,265,574
      Electricity, gas and water                                                                             81,913        87,161
      Construction                                                                                          589,137       678,106
      Real estate                                                                                            51,508        53,835
      Purchase of landed property:
          - Residential                                                                                   2,863,192     2,822,702
          - Non-Residential                                                                                 398,305       444,435
      Wholesale and retail trade and restaurants and hotels                                                 519,809       380,842
      Transport, storage and communication                                                                   82,792        79,096
      Finance, insurance and business services                                                              100,227        93,679
      Purchase of securities                                                                                163,876       213,467
      Purchase of transport vehicles                                                                      1,505,597     1,767,096
      Consumption credit                                                                                  1,986,070     1,536,369
      Community, social and personal services                                                                59,333        59,859
      Others                                                                                                736,413        71,319
                                                                                                         10,453,201     9,785,009
                                                                                                                -             -
A12   NON-PERFORMING FINANCING

      (i)   Movements in the non-performing financing, advances and other loans (including income receivable)

                                                                                                            30/06/08      30/06/07
                                                                                                            RM '000       RM '000

      At beginning                                                                                         2,192,151     2,302,218
      Classified as non-performing                                                                           421,526       712,278
      Reclassified as performing                                                                             (67,274)      (81,375)
      Amount recovered                                                                                      (500,307)     (392,880)
      Amount written off                                                                                     (61,403)     (307,245)
      Exchange differences                                                                                   (34,789)      (40,845)
      At end                                                                                               1,949,904     2,192,151
      Less: - specific allowance                                                                          (1,228,131)   (1,211,263)
      Net non-performing financing, advances and others                                                      721,773       980,888
                                                                                                                 -             -
      Ratio of net non-performing financing, advances and other loans to total net
      financing, advances and other loans                                                                       7.82%      11.44%




                                                                                                                                      9
BIMB HOLDINGS BERHAD (423858-X)
(Incorporated in Malaysia)

A12   NON-PERFORMING FINANCING, continued

      (ii)    Movements in the allowance for bad and doubtful financing

                                                                                    30/06/08      30/06/07
                                                                                    RM '000       RM '000

      General allowance
      At beginning                                                                  170,461       168,462
      Allowance made                                                                    -           3,074
      Transferred from specific allowance                                               -             -
      Transferred to profit equalisation reserves                                       -             -
      Write-back made                                                                   -             -
      Exchange differences                                                           (1,079)       (1,075)
      Closing                                                                       169,382       170,461
                                                                                        -             -
      As % of gross financing, advances and other loans less specific allowance       1.84%         1.99%

      Specific allowance
      At beginning                                                                 1,211,263     1,464,594
      Allowance made                                                                 300,924       270,832
      Transferred from general allowance                                                 -             -
      Transferred from allowance for doubtful debts                                      -             -
      Amount recovered                                                              (213,858)     (228,208)
      Amount written off                                                             (53,613)     (264,230)
      Exchange differences                                                           (16,585)      (31,725)
      Closing                                                                      1,228,131     1,211,263
                                                                                         -             -
      (iii)   Non-performing financing by sector

                                                                                    30/06/08      30/06/07
                                                                                    RM '000       RM '000

      Agriculture, hunting, forestry and fishing                                     51,591        74,899
      Mining and quarrying                                                            1,959         2,679
      Manufacturing                                                                 505,000       568,025
      Electricity, gas and water                                                     78,506        83,145
      Construction                                                                  389,523       448,823
      Real estate                                                                     4,244         4,388
      Purchase of landed property:
          - Residential                                                              257,821       292,072
          - Non-Residential                                                          150,924       122,426
      Wholesale and retail trade and restaurants and hotels                          120,835       185,913
      Transport, storage and communication                                            16,092        18,317
      Finance, insurance and business services                                           498           430
      Purchase of securities                                                          70,230       181,779
      Purchase of transport vehicles                                                  61,020        55,433
      Consumption credit                                                             167,252       114,620
      Community social and personal services                                          17,654        19,149
      Others                                                                          56,755        20,053
                                                                                   1,949,904     2,192,151
                                                                                         -             -
A13   DEPOSITS FROM CUSTOMERS

      (i)     By type of deposit

                                                                                    30/06/08      30/06/07
                                                                                    RM '000       RM '000

      Non-Mudharabah Fund:
      Demand deposits                                                              5,842,720     4,555,125
      Savings deposits                                                             1,899,962     1,589,308
      Negotiable Islamic Debt Certificate (NIDC)                                   6,098,744     4,596,717
      Others                                                                          41,464        35,222
                                                                                  13,882,890    10,776,372
      Mudharabah Fund:
      Savings deposits                                                               521,070       467,390
      General investment deposits                                                  2,411,039     2,015,116
      Special investment deposits                                                  3,720,159     4,129,132
      Others                                                                             235           623
                                                                                   6,652,503     6,612,261

      Total deposits from customers                                               20,535,393    17,388,633
                                                                                         -             -




                                                                                                              10
BIMB HOLDINGS BERHAD (423858-X)
(Incorporated in Malaysia)

A13   DEPOSITS FROM CUSTOMERS, continued

      (ii)   By type of customer

                                                                                                        30/06/08       30/06/07
                                                                                                        RM '000        RM '000

      Government and statutory bodies                                                                  4,566,889     3,309,885
      Business enterprises                                                                             5,997,473     6,097,683
      Individuals                                                                                      5,173,310     2,549,629
      Domestic Banking Institutions                                                                      752,409     1,085,861
      Domestic Non-bank Financial Institutions                                                         2,342,296     3,120,162
      Foreign Entities                                                                                   797,614        76,366
      Domestic Other Enterprises                                                                         905,402     1,149,047
                                                                                                      20,535,393    17,388,633
                                                                                                             -             -
A14   DEPOSITS AND PLACEMENTS OF BANKS AND OTHER FINANCIAL INSTITUTIONS

                                                                                                        30/06/08       30/06/07
                                                                                                        RM '000        RM '000

      Mudharabah Fund:
      Licensed Islamic banks                                                                             18,650         33,991
      Licensed banks                                                                                     39,793            -
                                                                                                         58,443         33,991
                                                                                                            -              -
A15   INCOME DERIVED FROM INVESTMENT OF DEPOSITORS‟ FUNDS AND OTHERS

                                                                                                            Cumulative
                                                                              3 months ended             12 months ended
                                                                             30/06/08      30/06/07     30/06/08       30/06/07
                                                                             RM '000       RM '000      RM '000        RM '000

      Income derived from investment of:
      (i)  General investment deposits                                        28,251        31,952      112,163        144,812
      (ii) Other deposits                                                    210,542       174,993      806,063        693,626
                                                                             238,793       206,945      918,226        838,438
                                                                                 -             -            -              -
      (i)    Income derived from investment of general investment deposits

                                                                                                            Cumulative
                                                                              3 months ended             12 months ended
                                                                             30/06/08      30/06/07     30/06/08       30/06/07
                                                                             RM '000       RM '000      RM '000        RM '000

      Financing income and hibah
      Financing, advances and other loans                                     18,575        25,243       79,229        111,014
      Held-for-trading                                                            79            44          314             46
      Held-to-maturity                                                            29            31          262            138
      Available-for-sale                                                       2,092         1,736        6,331          8,874
      Money at call and deposit with financial institutions                    7,126         3,550       23,593         15,951
                                                                              27,901        30,604      109,729        136,023
      Amortisation of premium less accretion of discounts                        610         3,639        2,519          8,995
                                                                              28,511        34,243      112,248        145,018
      Other dealing income
      Net gain / (loss) from foreign exchange transactions                       -            (373)         -              -
      Net gain / (loss) from sale of securities held-for-trading                 (92)         (370)        (109)          (404)
      Net gain / (loss) on revaluation of securities held-for-trading           (145)         (946)         (26)            50
                                                                                (237)       (1,689)        (135)          (354)
      Other operating income
      Net gain / (loss) from sale of securities:
           Available-for-sale                                                    (66)         (676)           7             74
      Gross dividend income from securities:
           Quoted in Malaysia                                                     43            74           43             74
                                                                                 (23)         (602)          50            148

                                                                              28,251        31,952      112,163        144,812
                                                                                 -             -            -              -




                                                                                                                                  11
BIMB HOLDINGS BERHAD (423858-X)
(Incorporated in Malaysia)

A15   INCOME DERIVED FROM INVESTMENT OF DEPOSITORS‟ FUNDS AND OTHERS, continued

      (ii)   Income derived from investment of other deposits

                                                                                                     Cumulative
                                                                         3 months ended           12 months ended
                                                                        30/06/08      30/06/07   30/06/08       30/06/07
                                                                        RM '000       RM '000    RM '000        RM '000

      Financing income and hibah
      Financing, advances and other loans                               140,737       131,813    568,643        521,768
      Held-for-trading                                                      569           296      2,263            306
      Held-to-maturity                                                      203           218      1,869            854
      Available-for-sale                                                 15,106         9,244     45,646         14,313
      Money at call and deposit with financial institutions              51,508        23,898    170,233         97,929
                                                                        208,123       165,469    788,654        635,170
      Amortisation of premium less accretion of discounts                 4,397        25,394     18,130         57,880
                                                                        212,520       190,863    806,784        693,050
      Other dealing income
      Net gain / (loss) from foreign exchange transactions                  -          (5,850)       -              -
      Net gain / (loss) from sale of securities held-for-trading           (657)          (91)      (781)          (268)
      Net gain / (loss) on revaluation of securities held-for-trading    (1,037)       (5,783)      (179)           348
                                                                         (1,694)      (11,724)      (960)            80
      Other operating income
      Net gain / (loss) from sale of securities:
           Available-for-sale                                              (284)       (4,146)      239             496
                                                                           (284)       (4,146)      239             496

                                                                        210,542       174,993    806,063        693,626
                                                                            -             -          -              -




                                                                                                                           12
BIMB HOLDINGS BERHAD (423858-X)
(Incorporated in Malaysia)

A16   INCOME DERIVED FROM INVESTMENT OF SHAREHOLDERS‟ FUNDS

                                                                                                     Cumulative
                                                                         3 months ended           12 months ended
                                                                        30/06/08      30/06/07   30/06/08       30/06/07
                                                                        RM '000       RM '000    RM '000        RM '000

      Financing income and hibah
      Financing, advances and other loans                                (2,353)        2,506        300          5,281
      Held-for-trading                                                        2          (626)        23            -
      Held-to-maturity                                                      163       (15,915)       373             75
      Available-for-sale                                                  9,058         8,089     31,675         24,850
      Money at call and deposit with financial institutions              23,893         6,560    103,403         55,946
                                                                         30,763           614    135,774         86,152
      Amortisation of premium less accretion of discounts                 2,113         1,723      7,623          5,007
                                                                         32,876         2,337    143,397         91,159
      Other dealing income
      Net gain / (loss) from foreign exchange transactions               (4,475)       31,572      9,925         15,572
      Net gain / (loss) from sale of securities held-for-trading             11        11,246     (6,977)        11,572
      Net gain / (loss) on revaluation of securities held-for-trading       (13)        3,276        (53)         7,407
                                                                         (4,477)       46,094      2,895         34,551
      Other operating income
      Net gain / (loss) from sale of securities:
             Held-to-maturity                                              -              (10)       -              -
             Available-for-sale                                            (71)        (1,603)    14,896          2,160
      Unrealised forex gain/(loss) on cash balance                          14             15         14            -
      Profit on sale of foreign currencies                                 175          2,362     22,741          3,508
      Gain on disposal associated companies                                -              950        -              950
      Reversal of allowance for diminution in value of investment          331          1,242        580          1,242
      Reversal of allowance for doubtful debts                             160            -        1,072            -
      Takaful contributions less retakaful and
             reserve for unearned takaful contributions                  34,570        75,205    176,066        168,084
      Gross dividend income from securities:
             Quoted in Malaysia                                          (2,128)        1,330      1,250          1,422
             Quoted outside Malaysia                                        -            (287)       -              -
             Unit trust in Malaysia                                           1           (49)     1,176            164
             Unit trust outside Malaysia                                     57           122        119            122
             Unquoted in Malaysia                                         3,459           234      3,459            643
             Unquoted outside Malaysia                                      -             -          -               57
                                                                         36,568        79,511    221,373        178,352
      Fees and commission
      ATM fees                                                            2,710         7,870      9,547          7,870
      Financing fees                                                      5,798        10,216     19,068         10,216
      Cheque issued & return, closing account and other fees                265        10,303      1,027         10,303
      Takaful service fees and commission                                 1,122         3,468      2,534          3,468
      Credit card fees and commission                                     4,381         7,479     13,106          7,479
      Processing fees                                                       145           283      1,255          1,913
      Commitment fees                                                        17         3,182         20          3,403
      Rentas clearing fees                                                  517         2,104      1,884          2,104
      Commission on MEPS                                                   (345)        2,870      3,432          2,870
      Management fee                                                        350           695      1,784          1,416
      Corporate advisory fees                                             1,511            71      2,513            341
      Service charges fees                                                    4           479         61          4,743
      Others                                                              4,206       (22,806)    17,898         17,085
                                                                         20,681        26,214     74,129         73,211
      Other income
      Net gain/(loss) on disposal of property, plant & equipment           (138)            2       (137)            20
      Rental income                                                         -             -           18            -
      Others                                                             24,673         2,691     50,822          3,354
                                                                         24,535         2,693     50,703          3,374

                                                                        110,183       156,849    492,497        380,647
                                                                            -             -          -              -




                                                                                                                           13
BIMB HOLDINGS BERHAD (423858-X)
(Incorporated in Malaysia)

A17   ALLOWANCE FOR LOSSES ON FINANCING

                                                                                                                            Cumulative
                                                                                       3 months ended                    12 months ended
                                                                                      30/06/08      30/06/07            30/06/08       30/06/07
                                                                                      RM '000       RM '000             RM '000        RM '000

      Allowance for bad and doubtful financing:
      - Specific allowance
            - Made in the financial year                                              142,258           90,393          300,924        270,834
            - Written back                                                            (79,320)         (23,690)        (213,858)      (228,208)
      - General allowance
            - Made in the financial year                                                   -                449             -            3,074
            - Written back                                                                 -                -               -              -
      - Provision for doubful debt                                                         -               (129)            -              -
      - Bad debts and financing:
            - Recovered                                                                (42,392)         (3,944)         (94,305)       (21,831)
      - Recoverable from Danaharta                                                           (1)           -               (257)        (1,616)
      - Exchange difference                                                                 84            (272)             (51)        (2,069)
                                                                                        20,629          62,807           (7,547)        20,184
                                                                                           -               -                -              -
A18   INCOME ATTRIBUTABLE TO DEPOSITORS

                                                                                                                            Cumulative
                                                                                       3 months ended                    12 months ended
                                                                                      30/06/08      30/06/07            30/06/08       30/06/07
                                                                                      RM '000       RM '000             RM '000        RM '000

      Deposits from customers:
             - Mudharabah fund                                                         43,600          (33,360)         195,996        233,238
             - Non-Mudharabah fund                                                     61,381          150,420          213,576        163,557
      Deposits and placements of banks and other financial institutions:
             - Mudharabah fund                                                          1,302              287            5,517          5,620
             - Non-Mudharabah fund                                                        -                -                -              -
      Utilization of profit equalisation reserves                                         -                -                -              -
      Others                                                                              -            (13,371)             -              -
                                                                                      106,283          103,976          415,089        402,415
                                                                                          -                -                -              -
A19   GAIN ARISING FROM THE DILUTION OF INTEREST IN A SUBSIDIARY

      The extraordinary gain of RM631.51 million arose from the dilution of 49% interest of BIMB Holdings Berhad in Bank Islam Malaysia Berhad
      in the financial year 2007.

A20   CAPITAL ADEQUACY

      The risk-weighted capital adequacy ratios of a subsidiary, Bank Islam Malaysia Berhad and its subsidiaries are as follows:

                                                                                                                                      Restated
                                                                                                                        30/06/08      30/06/07
                                                                                                                        RM '000        RM '000
      Tier-I capital:
      Paid-up share capital                                                                                           1,725,490      1,725,490
      Share premium                                                                                                     500,020        500,020
      Accumulated losses                                                                                             (1,390,937)    (1,588,477)
      Other reserves                                                                                                    508,821        316,763
      Less: Deferred tax assets                                                                                         (86,282)           -
      Total Tier-I capital                                                                                            1,257,113        953,796

      Tier-II capital:
      Redeemable subordinated mudharabah                                                                                 40,000         60,000
      General allowance for bad and doubtful financing                                                                  169,382        170,461
      Total Tier-II capital                                                                                             209,382        230,461

      Total capital                                                                                                   1,466,495      1,184,257
      Less: Investment in subsidiaries                                                                                      -              -
      Capital base                                                                                                    1,466,495      1,184,257
                                                                                                                            -              -
      Core capital ratio                                                                                                 11.27%          9.74%
      Risk-weighted capital ratio                                                                                        13.15%         12.10%
      Core capital ratio net of proposed dividends                                                                       11.27%          9.74%
      Risk-weighted capital ratio net of proposed dividend                                                               13.15%         12.10%


      (The Banking subsidiary, with effect from January 1, 2008 has adopted the new Capital Adequacy Framework for Islamic Bank (CAFIB),
      which is BASEL II standardised approach compliant in its computation of core capital ratio (CCR) and risk-weighted capital ratio (RWCR).
      However, the Bank has maintained the BASEL I computation of CCR and RWCR for the comparative period ended 30 June 2007).




                                                                                                                                                  14
BIMB HOLDINGS BERHAD (423858-X)
(Incorporated in Malaysia)

A21   SEGMENTAL INFORMATION

      The Group comprises the following main business segments:

      Banking operations                    Islamic banking and provision of related services.
      Takaful operations                    Family and general takaful.
      Others                                Investment holding, currency trading, ijarah financing, stockbroking, unit trust and
                                            venture capital.

                                                                                                                       Profit Before
                                                                                         Total Revenue                  Zakat & Tax
                                                                                                   12 months ended 30 June
                                                                                       30/06/08       30/06/07      30/06/08         30/06/07
                                                                                        RM‟000         RM‟000        RM‟000           RM‟000

      Banking operations:

              Domestic                                                                1,125,917       980,198         287,671        177,407
              Offshore                                                                   26,124        30,295          20,596         59,253

      Takaful operations                                                               224,032        183,335           40,830        21,043

      Others                                                                            79,314         73,470           58,487        51,196

      Inter-segment elimination                                                         (44,664)      (48,213)         (24,943)      595,804

      Total                                                                           1,410,723     1,219,085         382,641        904,703
                                                                                            -              -                -             -
A22   VALUATION OF PROPERTY, PLANT AND EQUIPMENT

      Property, plant and equipment are stated at cost less accumulated depreciation and impairment losses. There was no valuation carried out
      during the period.

A23   MATERIAL EVENTS SUBSEQUENT TO THE END OF THE INTERIM PERIOD

      Save as disclosed in Note B8, there were no material events subsequent to the end of the interim period.

A24   CHANGES IN COMPOSITION OF THE GROUP

      There were no changes in the composition of the Group for the current period.

A25   CHANGES IN CONTINGENT LIABILITIES SINCE THE LAST ANNUAL BALANCE SHEET DATE

      In the normal course of business, a subsidiary, Bank Islam Malaysia Berhad makes various commitments and incurs certain contingent
      liabilities with legal recourse to their customers.

      Risk Weighted Exposures arising from the commitments and contingencies of this subsidiary as at 30 June 2008 are as follow:

                                                              30 June 2008                                        30 June 2007
                                                                     Credit               Risk                          Credit          Risk
                                                    Principal    Equivalent           Weighted       Principal      Equivalent      Weighted
                                                     Amount        Amount              Amount         Amount           Amount        Amount
                                                     RM '000       RM '000             RM '000        RM '000          RM '000       RM '000

      Direct credit substitutes                     521,235          521,235           317,479        347,830         347,830        334,526
      Transaction-related contingent
       items                                        629,905          314,953           298,150        411,564         205,782        203,861
      Short-term self-liquidating trade
      related contingencies                         514,410          102,882            22,691        708,495         141,699         20,648
      Other assets sold with recourse
      and commitments with
            certain drawdown                          11,438          11,438            11,438            119              119           119
      Obligations under underwriting
      agreements                                    103,000           51,500            51,500         99,000           49,500        49,500
      Irrevocable commitments to
      extend credit
      - maturity less than one year                      -                -                 -              -               -              -
      - maturity exceeding one year                      -                -                 -              -               -              -
      Foreign exchange related
      contracts
      - maturity less than one year                2,892,916          24,336            14,994      1,965,760           39,315          7,863
      Miscellaneous                                4,669,621         283,007           231,403      1,404,455          497,218        468,775
      Total                                        9,342,525       1,309,351           947,655      4,937,223        1,281,463      1,085,292
                                                         -               -                 -              -                -              -




                                                                                                                                                 15
BIMB HOLDINGS BERHAD (423858-X)
(Incorporated in Malaysia)

A26   PROFIT RATE RISK

          30-Jun-08
                                                                             Non-trading book
                                                    Up to 1       > 1-3       > 3-12           1-5     Over 5    Non profit
                                                     Month      Months       Months         Years      Years      Sensitive
                                                    RM „000     RM „000      RM „000       RM „000    RM „000      RM „000

      Assets
      Cash and short-term funds                   9,462,736         535           -            -           -       477,881
      Deposits and placements with banks
            and other financial institutions           -            -            -             -           -           -
      Securities Held-for-trading                      -            -            -             -           -           -
      Securities Held-to-maturity                      -            -            -         121,119      68,327         -
      Securities Available-for-sale                 92,055      124,699      636,665     1,280,856   1,289,468      42,316
      Financing, advances & other loans:
          - Performing                            1,336,535     866,820       636,694    1,644,219   3,849,647          -
          - Non-performing                              -           -             -            -           -        721,773
      Other assets                                      -           -             -            -           -      4,798,347
      Total assets                               10,891,326     992,054     1,273,359    3,046,194   5,207,442    6,040,317

      Liabilities
      Deposits from customers                     5,071,439   3,012,565     2,161,545    1,682,151    545,080     8,062,613
      Deposits and placements of banks
             and other financial institutions        58,443         -             -            -          -             -
      Bills and acceptance payable                  990,448         -             -            -          -             -
      Other liabilities                                 147         191             4          917        -         908,894
      Total liabilities                           6,120,477   3,012,756     2,161,549    1,683,068    545,080     8,971,507

      Shareholders’ equity                              -            -            -            -           -      1,235,223
      Takaful funds                                     -            -            -            -           -      3,186,165
      Minority interests                                -            -            -            -           -        861,110

      Total liabilities & shareholders' equity    6,120,477   3,012,756     2,161,549    1,683,068    545,080    14,254,005

      On-balance sheet profit sensitivity gap     4,770,849   (2,020,702)    (888,190)   1,363,126   4,662,362
      Off-balance sheet profit sensitivity gap          -            -            -            -           -
      Net maturity mismatch                       4,770,849   (2,020,702)    (888,190)   1,363,126   4,662,362




                                                                                                                              16
BIMB HOLDINGS BERHAD (423858-X)
(Incorporated in Malaysia)

A26   PROFIT RATE RISK, Continued

          30-Jun-07
                                                                             Non-trading book
                                                  Up to 1       > 1-3        > 3-12            1-5     Over 5    Non profit
                                                   Month      Months        Months          Years      Years      Sensitive
                                                  RM „000     RM „000       RM „000       RM „000     RM „000      RM „000

      Assets
      Cash and short-term funds                  5,700,971    149,479            -             -           -       367,529
      Deposits and placements with banks
            and other financial institutions          -           -             -             -           -            -
      Securities Held-for-trading                     -           -             -             -           -         24,000
      Securities Held-to-maturity                     -        11,650           -          39,867      90,702          -
      Securities Available-for-sale               973,340     672,274       368,408       739,658     660,385       64,314
      Financing, advances and other loans:
          - Performing                           1,457,513     732,026      605,685      1,375,043   3,252,130          -
          - Non-performing                             -           -            -              -           -        980,888
      Other assets                                     -           -            -              -           -      3,937,999
      Total assets                               8,131,824   1,565,429      974,093      2,154,568   4,003,217    5,374,730

      Liabilities
      Deposits from customers                    2,711,953   1,943,099    4,129,285      1,113,759   1,003,724    6,486,813
      Deposits and placements of banks
             and other financial institutions       33,991         -            -              -           -            -
      Bills and acceptance payable                 109,189         -            -              -           -            -
      Other liabilities                                -           -            -              -           -        827,942
      Total liabilities                          2,855,133   1,943,099    4,129,285      1,113,759   1,003,724    7,314,755

      Shareholders’ equity                             -           -             -             -           -        991,956
      Takaful funds                                    -           -             -             -           -      2,611,779
      Minority interests                               -           -             -             -           -        626,542
      Total liabilities & shareholders' equity   2,855,133   1,943,099    4,129,285      1,113,759   1,003,724   11,545,032

      On balance sheet profit sensitivity gap    5,276,691    (377,670)   (3,155,192)    1,040,809   2,999,493
      Off balance sheet profit sensitivity gap         -           -             -             -           -
      Net maturity mismatch                      5,276,691    (377,670)   (3,155,192)    1,040,809   2,999,493




                                                                                                                              17
BIMB HOLDINGS BERHAD (423858-X)
(Incorporated in Malaysia)

EXPLANATORY NOTES OF BURSA MALAYSIA REVISED LISTING REQUIREMENTS
PART A OF APPENDIX 9B

B1   REVIEW OF PERFORMANCE

     Fourth Quarter Cumulative Performance
     - (YTD 30/06/2008 vs 30/06/2007)

                                                                                Cumulative 12 months ended
                                                                                          30 Jun
                                                                                        2008          2007           Movement
                                                                                     RM'000        RM'000              RM'000             %

             Income derived from investment of depositors' fund                       918,226          838,438           79,788         10%
             Income derived from investment of shareholders' fund                     492,497          380,647          111,850         29%

                                                                                    1,410,723        1,219,085          191,638         16%

             Profit before zakat and taxation (PBZT)                                  382,641          904,703         (522,062)        -58%

     The Group's improved performance from both investment in depositors' and shareholders' funds was achieved on the back of higher income
     from Islamic Banking and Takaful business, as a result of an improved operating environment.

     Notwithstanding, the exceptional gain on disposal of interest in Bank Islam of RM631million, PBZT too depicted improved results.

B2   COMPARISON WITH THE PRECEDING QUARTER‟S RESULTS

     For the 3 months performance (4th Qtr 2008 vs 3rd Qtr 2008)

                                                                                        3 months ended
                                                                                     6/30/2008      3/31/2008        Movement
                                                                                       RM'000         RM'000           RM'000             %

             Income derived from investment of depositors' fund                       238,793          219,950           18,843          9%
             Income derived from investment of shareholders' fund                     110,183          142,858          (32,675)        -23%

             Total revenue                                                            348,976          362,808          (13,832)         -4%

             Allowance for financing losses                                           (20,629)         (10,648)          (9,981)         94%
             Income attributable to depositors                                       (106,283)        (100,609)          (5,674)          6%
             Profit equalisation reserve                                               16,183            4,541           11,642         256%
             Impairment losses                                                         12,367              -             12,367         100%
             Other expenses directly attributable to the investment of the
                 depositors' and shareholders' fund                                     (3,081)          (5,580)          2,499         -45%

             Total net (loss) / income                                                247,533          250,512           (2,979)         -1%

             Personnel expenses                                                        (64,446)        (89,787)          25,341         -28%
             Depreciation                                                               (7,411)        (20,120)          12,709         -63%
             Other overhead expenses                                                   (99,941)        (54,178)         (45,763)         84%

             Total expenses                                                          (171,798)        (164,085)          (7,713)         5%

             Profit / (Loss) before zakat and taxation (PBZT)                          75,735           86,427          (10,692)        -12%

     The reclassification of STMB subsidiary, ARIL, as held for sale resulted in a provision for diminution in value of approximately RM13 million.
     This caused the group PBZT to register a lower PBZT in 2008 against 2007.

B3   PROSPECTS

     BIMB Holdings Berhad is expected to be in a stronger position to take advantage of opportunities, whilst addressing challenges present in
     today's operating environment as Malaysia's economic fundamentals are expected to remain relatively stable.
     Within the challenging and competitive environment, enhancing asset quality will continue to be a key initiative towards improving our
     bottom line.

     The Group is focussed on several key initiatives to support our business objectives. We are continually optimizing cost efficiency through
     the use of technology, better systems and processes, and improving productivity levels.

B4   VARIANCE FROM PROFIT FORECAST AND PROFIT GUARANTEE

     The Group neither made any profit forecast nor issued any profit guarantee.




                                                                                                                                                      18
BIMB HOLDINGS BERHAD (423858-X)
(Incorporated in Malaysia)

B5   TAXATION

                                                                                                                         Cumulative
                                                                                     3 months ended                   12 months ended
                                                                                         30 June                           30 June
                                                                                    30/06/08      30/06/07           30/06/08       30/06/07
                                                                                     RM‟000        RM‟000             RM‟000         RM‟000

     Current tax expense                                                               7,687             883          24,773           8,668
     (Over)/under provision in respect of prior period                                    33           2,648              45           2,648
                                                                                       7,720           3,531          24,818          11,316

     Deferred tax expense
          Origination and reversal of
            temporary differences                                                    (89,450)         (3,905)        (91,336)         (2,790)
                                                                                     (81,730)           (374)        (66,518)          8,526

     Tax expense on share of profit of
          associates and jointly controlled entities                                    Nil             Nil              Nil               Nil
                                                                                  (81,730)          (374)         (66,518)            8,526
                                                                                      -               -                -                 -
     With effect from YA 2007, corporate tax is at 26%. The Malaysian Budget 2007 also announced the reduction of corporate tax rate to 26%
     in 2008.

B6   PROFIT ON SALE OF UNQUOTED INVESTMENTS AND/OR PROPERTIES

     There were no material gain or loss on sales of unquoted investments and properties of the Group during the quarter.

B7   PURCHASE AND SALE OF QUOTED SECURITIES

     This note does not apply to the Group.

B8   CORPORATE PROPOSALS

     Our subsidiary, Syarikat Takaful Malaysia Berhad, has on 10 October 2007 and 20 November 2007 respectively, announced that it has
     obtained the approval from Bank Negara Malaysia to commence negotiations with Abu Dhabi-Kuwait-Malaysia Strategic Investment
     Corporation ( ADKMSIC ) and Islamic Arab Insurance Co. P.J.S.C (SALAMA) respectively. Currently the negotiations with both ADKMSIC
     and SALAMA are still ongoing and no conclusive arrangements has been achieved thus far.



     BIMB Holdings Berhad (BHB), had on 19 June 2008, announced that it had obtained the approval from BNM to commence negotiations with
     Abu Dhabi-Kuwait-Malaysia Strategic Investment Corporation (ADKMSIC). Currently, the negotiations with ADKMSIC are still ongoing and
     no conclusive arrangements have been achieved this far.

B9   DEPOSITS AND PLACEMENTS OF FINANCIAL INSTITUTIONS AND DEBT SECURITIES

                                                                                                                           Group
                                                                                                                     30/06/08        30/06/07
                                                                                                                     RM '000         RM '000

     Deposits from customers
     Mudharabah accounts deposits and negotiable instruments of deposits
         One year or less (short-term)                                                                             12,612,557       8,598,910
         More than one year (medium/long-term)                                                                        138,690       2,610,068
                                                                                                                   12,751,247      11,208,978
     Current accounts                                                                                               5,842,720       4,555,125
     Savings accounts                                                                                               1,899,962       1,589,308
     Others                                                                                                            41,464          35,222
     Total deposits                                                                                                20,535,393      17,388,633
                                                                                                                          -               -
     Deposits and placements of banks and other financial institutions
            One year or less (short-term)                                                                              58,443          33,991
                                                                                                                       58,443          33,991
                                                                                                                          -               -




                                                                                                                                                 19
BIMB HOLDINGS BERHAD (423858-X)
(Incorporated in Malaysia)

B10   OFF BALANCE SHEET FINANCIAL INSTRUMENTS BY VALUE OF CONTRACTS CLASSIFIED BY REMAINING PERIOD TO
      MATURITY/NEXT REPRICING DATE (WHICHEVER EARLIER)


      GROUP (RM '000)

      Items                                          Principal            1mth/             >1-3             >3-6             >6-12          Margin
                                                      Amount               less             mths             mths             mths      Requirement
      Foreign exchange
      related contracts
            - forwards                                590,670          175,027          359,101            56,542               NA                 NA
            - swaps                                   729,724          475,031          238,409            16,284               NA                 NA
            -option                                        NA               NA               NA                NA               NA                 NA

      Total                                         1,320,394          650,058          597,510            72,826               NA                NA
                                                          -                -                -                 -

      Market risk

      Market risk is the potential change in value caused by movement in market rates or prices. The contractual amounts stated above provide
      only a measure of involvement in these types of transactions and do not represent the amount subject to market risk. Exposure to market
      risk transactions may be reduced through offsetting on and off-balance sheet positions. As at 30 June 2008, the amount of contracts which
      were not hedged and, hence, exposed to market risk was RM295.72 million. (30 June 2007: Nil).

      Credit risk


      Credit risk arises from the possibility that a counter–party may be unable to meet the terms of a contract in which the Bank has a gain
      position. This amount will increase or decrease over the life of the contracts, maturity dates and rates or prices. As at 30 June 2008, the
      credit risk measured in terms of the cost to replace the profitable contracts, was RM17.33 million (30 June 2007: RM306.58 million).


      Related accounting policies

      Foreign exchange contracts are converted into Ringgit Malaysia at rates of exchange ruling at the transaction dates.

B11   MATERIAL LITIGATION

      Save as disclosed below, there were no changes in material litigation, including the status of pending material litigation since the last annual
      balance sheet date of 30 June 2007.

      (a)     Bank Islam, together with syndication members (the Plaintiffs) led by AmMerchant Bank Berhad, on 10 August 1998, filed a
              syndication civil suit claim against Silver Concept Sdn Bhd (the Defendant) to recover outstanding financing facilities totalling
              RM196,289,470.96 (the sum owing to Bank Islam is RM59,364,621.68). The financing was secured by 34 properties. Order for sale
              in respect of 17 properties held under Registry Title was granted on 30 June 2006. However, on 9 May 2008, the balance purchase
              price was distributed among the syndication members where Bank Islam received RM12, 744,868.98. Consequentially, the
              syndication members agreed to withdraw the foreclosure action against the Defendant.

              The civil suit against the Defendant for the remaining balance of the amount claimed would remain. The Court is yet to make a
              decision. The Plaintiffs' solicitors are of the view that the Plaintiffs will prevail in this matter.

      (b)
              Bank Islam together with syndication members, on 9 September 1998, filed a civil suit claim against M.K. Associates Sdn Bhd (the
              Defendant) and Sateras Resources (Malaysia) Berhad (the Guarantor), to recover outstanding financing facilities of
              RM29,228,765.00. Summary judgement against the Defendant and the Guarantor was obtained on 5 January 1999.Bank Islam has
              filed the Proof of Debt at the Insolvency Department in July 2006 but it was rejected in view of the defendant’s appeal on a winding
              up order granted to LHDN, in a separate action. This matter has been held in abeyance pending the appeal.



              Bank Islam together with syndication members commenced two (2) separate foreclosure proceedings against the Defendant and
              M.K. Golf Sdn Bhd (Third Party Chargor). The Order for Sale over the Defendant's properties was granted on 7 September 1999.
              No subsequent auction has been carried out since the first auction in February 2001, as many of the apartments unit built on the
              Defendant's properties have been sold and redeemed and also due to difficulties to identify other assets of the defendants.


              The order for sale over the properties of the Third Party Chargor was obtained on 17 May 1999. Five (5) attempts to sell the property
              i.e. the golf course have been unsuccessful. Bank Islam is in the midst of negotiating with potential buyers to sell the property on
              private treaty basis.




                                                                                                                                                         20
BIMB HOLDINGS BERHAD (423858-X)
(Incorporated in Malaysia)

B11   MATERIAL LITIGATION, continued

      (c)   On 29 April 2002, Ariffin Dato' Hussein (the Plaintiff) filed a claim for general damages for RM18.2 million against Bank Islam for
            libel arising from publication of a proclamation of sale made after the Plaintiff has paid off his outstanding facility. Bank Islam has
            named its documentation solicitor as a party to the suit on the basis of their indemnity for negligence. The full trial was held on 6 and
            7 May 2007 and the learned judge has fixed for clarification date on 18 August 2008. Bank Islam's solicitors are of the view that
            Bank Islam will prevail in this matter.

      (d)   On 17 May 2003, Tahan Steel Corporation Sdn Bhd (the Plaintiff) filed a claim for the amount of USD12,275,000.00 for breach of
            contract and RM109,776,000.00 for general damages against Bank Islam for failure to disburse the balance of the facility granted to
            Tahan Steel. Bank Islam had filed a counterclaim to recover RM143,590,488.09 from Tahan Steel being the outstanding financing
            facility amount. The hearing of interlocutory proceeding is yet to be fixed.

            Pending the above, the Plaintiff has proposed payment of RM43.0 million as full and final settlement of the amount owing to Bank
            Islam. Bank Islam has countered the proposal for the amount of RM58.9 million i.e. the cost outstanding of the financing. The
            Plaintiff is yet to revert with its decision on Bank Islam’s counter proposal. Bank Islam's solicitors are of the opinion that Bank Islam
            will prevail in this matter.

      (e)   On 16 October 2003, Estate & Forestry Consulting Management Sdn. Bhd. (the Plaintiff) filed a claim against Bank Islam for general
            damages of RM17,862,183.15. The Plaintiff alleged that there was a breach of contract and misrepresentation by Bank Islam
            resulting in the Plaintiff suffering losses when the sale of Razimco Sdn Bhd (Razimco) to the Plaintiff did not materialize due to the
            legal action by Bank Islam against Razimco. The Court has fixed the matter for full trial on 11 to 15 May 2009. Bank Islam's
            solicitors are of the opinion that Bank Islam will prevail in this matter.

      (f)
            Bank Islam, on 27 January 2004, filed a civil suit claim against ECT Industries Sdn Bhd (the Defendant) and its guarantors to
            recover outstanding financing facilities of RM14,252,306.75. All the guarantors were declared bankrupt on 16 March 2006 and the
            solicitors had filed the Proof of Debt on 19 April 2006. The Defendant has been wound up by another party and Court had granted
            Bank Islam with an order to intervene on 11 November 2007. The Solicitors are in the midst of preparing for Proof of Debt.


            Bank Islam has also obtained an order for sale in relation to the three (3) pieces of land charged under the facility. The solicitors are
            applying for another auction date as the previous auction was aborted.

      (g)   Bank Islam, on 29 January 2004, filed a civil suit against Duta Nilai Development Sdn Bhd (the Defendant) and its guarantors to
            recover outstanding financing facilities of RM40,901,048.88. The Defendant was wound up on 17 January 2005 by another party
            and Bank Islam has filed proof of debt. The assets of the Defendant are now being administered by the official receiver. Meanwhile,
            summary judgement against the guarantors had also been obtained on 23 June 2005. The matter is now pending a settlement
            proposal with some third party investors.

      (h)   Bank Islam, on 30 January 2004 filed a foreclosure action to recover an amount of USD2, 689,985.00, against the security pledged
            by Datuk Dr. Abdul Aziz bin Muhammad (the Chargor) for the facilities granted to Quantum Holdings (L) Ltd (the Customer). The
            matter is now fixed for mention on 5 August 2008. The solicitors are of the view that the foreclosure proceedings will be successful
            and that an order for sale will be granted.

      (i)
            Bank Islam, on 9 February 2004, filed a civil suit claim against PC Auto Blast Sdn Bhd, Jaya Raj a/l A. Mariadas and Johnson a/l
            Mariadas (the Defendants) and a foreclosure action to recover outstanding financing facilities of RM13,125,946.46. The Court has
            fixed the hearing of the civil claim on 7 April 2008. However, the Defendants have filed a counterclaim seeking declarations and
            damages. Amongst others, the Defendants are seeking for declarations that the agreements executed under the facilities are null
            and void for non-compliance with Shariah principles. This counterclaim action has been fixed for mention on 11 November 2008.


            In view of the Defendant’s counterclaim, the Court had granted the Defendant with an order for stay of proceedings on Bank Islam’s
            application for order for sale in regard to properties charged under the facilities.

      (j)
            Bank Islam, on 17 February 2004, filed a civil suit claim against Enten Oil Industries Sdn Bhd (formerly known as KLLT Oil
            Industries Sdn Bhd), Ariffin Rahmat and Eng Weng Long (the Defendants) to recover outstanding financing facilities of
            RM27,056,183.66. Judgement in Default was obtained against the Defendants on 11 June 2004. Bank Islam has filed bankruptcy
            notice against the second and third Defendants and winding up petition against the first Defendant on 18 March 2008.


            An order for sale for the two (2) properties charged to Bank Islam under the facilities was granted on 11 January 2005. However,
            the Court granted stay of execution against the first property on 16 July 2007 and the second application for stay of execution in
            respect of the second property has been fixed for hearing on 18 November 2008. Bank Islam's solicitors are of the view that Bank
            Islam will prevail in this matter.




                                                                                                                                                        21
BIMB HOLDINGS BERHAD (423858-X)
(Incorporated in Malaysia)

B11   MATERIAL LITIGATION, continued

      (k)   On 14 June 2004, Kopeks Holdings Sdn Bhd (the Plaintiff) filed a claim against Bank Islam for the withdrawal and cancellation of
            facilities offered by Bank Islam to the Plaintiff, claiming inter-alia, special damages of RM5,491,849.55 and general damages of
            RM7,559,675.00, together with interests. The trial date has been fixed on 14-16 January 2009. Bank Islam's solicitors are of the
            view that Bank Islam has a good chance to prevail in this matter.

      (l)   Bank Islam, together with a consortium of financiers led by Alliance Merchant Bank Berhad (the Plaintiffs) , on 15 June 2004, filed a
            syndication civil suit claim against Chase Perdana Berhad (the Defendant) to recover outstanding financing facilities of
            RM25,728,393.73. The hearing for the matter was heard on 12 October 2006. The decision date is yet to be fixed. Plaintiffs'
            solicitors are of the view that the Plaintiffs will prevail in this matter.

      (m)   Bank Islam, in March 2005, filed a civil suit against Zeron Sdn Bhd (the Defendant) and its guarantors for the balance of the
            outstanding sale price under the Assets Sale Agreement of RM21,359,584.87 and the amount released to Pengurusan Danaharta
            Nasional Berhad pursuant to the Guarantee Agreement of RM10,500,000.00. The decision for the case management is yet to be
            fixed. Bank Islam's solicitors are of the view that Bank Islam will prevail in this matter.

            Bank Islam has obtained order for sale of the two (2) properties charged to Bank Islam. Three (3) attempts to auction the properties
            were aborted. Bank Islam has decided to appoint a private liquidator.

      (n)   Bank Islam, on 7 March 2005, filed a civil suit claim against Commerce Resources Inc., Dato' Kamaruddin @ Kamaluddin bin
            Awang and Datuk Hiew Ming Yong (the Defendants) for the sum of USD2,720,036.00. Judgement in Default has been obtained
            against all the Defendants. The matter is now pending filing of winding up petition. On 28 April 2008, the Court allowed the second
            Defendant’ application to stay enforcement proceedings and set aside the judgement in default. Bank Islam is applying for summary
            judgment against the second Defendant. Meanwhile, the third defendant has been adjudged a bankrupt and the solicitors have
            proceeded with the filing of Proof of Debt. Bank Islam's solicitors are of the view that Bank Islam will prevail in this matter.



      (o)   Bank Islam, on 22 March 2005, filed a civil suit claim against Commerce Trading, Dato' Kamaruddin @ Kamaluddin bin Awang and
            Datuk Hiew Ming Yong (the Defendants) in which Judgement in Default has been obtained against the first and second defendant.
            The third Defendant has been adjudged a bankrupt. The Court, had on 21 September 2007, allowed the application by the second
            Defendant to set aside the judgment in default. Bank Islam is applying for summary judgment against the second defendant and
            filing a winding up petition against the first Defendant. Bank Islam's solicitors are of the view that Bank Islam will prevail in this
            matter.

      (p)
            Bank Islam, on 30 March 2005, filed a civil suit against Lityan (L) Incorporated & Lityan Holdings Berhad (the Defendants) to recover
            outstanding financing facilities of USD15,000,000.00 from the Defendants. The second Defendant had on 9 January 2008, obtained
            a restraining order pursuant to Section 176 of the Companies Act 1965 until 6 August 2008. However, there was a proposal by
            Lityan Holding Berhad on its Debt Restructuring Scheme to make a full and final settlement for the facility under Lityan (L) Inc. via
            share settlement. This matter is pending approval by Securities Commission (SC) and acceptance by other creditors.


      (q)   Bank Islam, on 12 May 2005, filed a civil suit claim against Cartel Vista Sdn Bhd, Razmi Alias, Charles Clement Kilroy Augustin,
            Rafidah Mahayuddin and Rohaizan Ghazali, being the first, second, third, fourth and fifth defendant respectively (the Defendants) to
            recover outstanding financing facilities of RM15,555,808.54. The Judgement in Default against the first and fifth defendants was
            obtained on 21 September 2005. The Court has granted summary judgment against the second, third and fourth defendants in June
            2007.

            Meanwhile, a piece of land charged under this facility has been sold off during an auction for RM12,430,000.00. For the remaining
            balance of the amount claimed, Bank Islam is in the midst of negotiation with the Defendants for settlement.

      (r)   Bank Islam, on 24 May 2007 filed a civil suit claim against Tan Sri Abdul Khalid Ibrahim (the Defendant) to recover the outstanding
            financing facilities of USD18,251,806.13. The Court has fixed for mention of the summary judgement application by Bank Islam on
            28 August 2008. Bank Islam's solicitors are of the view that Bank Islam will prevail in this matter.

      (s)   On 3 March 2006, Ngiu Kee Sdn Bhd, Ngiu Kee (Bintulu) Sdn Bhd, Ngiu Kee (Sarikei) Sdn Bhd, Ngiu Kee (Kemena) Sdn Bhd, Ngiu
            Kee (Miri) Sdn Bhd and Ngiu Kee Corporation (M) Bhd (the Plaintiffs) filed a claim for damages of RM25.0 million against Bank
            Islam and sought declarations, among others, that Bank Islam has breached the terms of the facility by freezing their accounts. The
            Court has fixed for case management on 20 August 2008. Bank Islam’s solicitors are of the view that Bank Islam has a fair chance
            to succeed in defending this matter.




                                                                                                                                                     22
BIMB HOLDINGS BERHAD (423858-X)
(Incorporated in Malaysia)

B11   MATERIAL LITIGATION, continued

      (t)   On 18 August 2006, Bank Islam filed a civil suit claim against Linear Profile Sdn Bhd (the Defendant) and OCB Berhad (the
            Guarantor) for the sum of RM12,033,773.75. The Guarantor has filed a counterclaim for declarations and damages. Amongst
            others, the Guarantor is seeking declarations that the facilities given to the Defendant and the corporate guarantee were invalid and
            unenforceable. The Court has fixed for mention on 6 August 2008. It was postponed and the Court is yet to fix any new date. Bank
            Islam's solicitors are of the view that Bank Islam will prevail in this matter.

      (u)
            On 22 December 2006, Omegco Sdn Bhd (the Plaintiff) filed a claim against Bank Islam among others, claiming loss of profit of
            RM43.2 million and fixed deposit of RM250,000.00 not released by Bank Islam. The application for summary judgment by the
            Plaintiff was struck out by the Court with costs. The Plaintiff appealed against the decision in October 2007 and the Court is yet to fix
            any new date. Bank Islam's solicitors are of the view that Bank Islam has a fair chance to succeed in defending this matter.


      (v)   Consequential to the above, on 16 August 2007, Teck Guan Sdn Bhd (the Plaintiff) filed a claim for the sum of RM11,385,600.00.
            The summary judgment application by the Plaintiff will be decided on 25 September 2008. Bank Islam's solicitors are of the view
            that Bank Islam will prevail in this matter.

      (w)   On 27 September 2007, Barter Fortune Sdn Bhd (the Plaintiff) filed a civil suit claim against Bank Islam for recalling a BBA Facility
            and cancelling an Istisna' Facility granted to the Plaintiff. The Plaintiff claimed damages i.e. special damages of RM5,558,559.17,
            punitive damages of RM100,000,000.00 and exemplary damages of RM100,000,000.00 together with cost. The Court has fixed a
            date for mention on 8 September 2008. Bank Islam's solicitors are of the view that Bank Islam has a fair chance to succeed in
            defending this matter.

      (x)
            Datuk Zamzuri Abdul Ghafar (Plaintiff), on 25 June 2007 filed a civil suit against Bank Islam’s subsidiary i.e BIMB Trust Ltd, Dr. Aimi
            Zulhazmi Abd. Rashid and Khariman Abdul Jalil (the Defendants) for the sum of RM1,660,400.00 and cost being payment to
            Buckingham Consultant League Sdn Bhd (“BCLSB”). The Plaintiff alleged that the Defendant had induced him into paying the same
            to BCLSB for the procurement of an offshore loan of USD10 million based on fraudulent or misrepresentation made by the 2nd and
            3rd Defendants who are the employees of BIMB Trust Ltd. The Court has fixed the hearing of the claim on 10 November 2008.


      (y)   Tegas Baiduri Sdn Bhd (Plaintiff),on 10 October 2007 filed a civil suit against Bank Islam’s subsidiary i.e BIMB Trust Ltd, Dr. Aimi
            Zulhazmi Abd. Rashid and Khariman Abdul Jalil (the Defendants) for the sum of RM164,900.00 and cost being payment of
            RM144,000.00 to Buckingham Consultant League Sdn Bhd (“BCLSB”) and RM20,900.00 to the 1st Defendant. The Plaintiff alleged
            that the Defendant had induced him into paying the same to BCLSB for the procurement of an offshore loan of USD28, 887,511.00
            based on fraudulent or misrepresentation made by the 2nd and 3rd Defendants who are the employees of BIMB Trust Ltd. The
            Court has fixed a date for hearing of the Plaintiff’s application to transfer this matter from KL High Court to Labuan High Court on 10
            November 2008.

      (z)   Bank Islam, on 27 August 2007 filed a civil suit against four (4) senior management staff members of the then Bank Islam Labuan
            Ltd (“BILL”) (“the Defendants”) claiming an amount of USD8,586,483.00 being the outstanding financing amount granted by BILL to
            the customers whose accounts have been in default, namely Faaris Investment Holding Plc, Profound Heritage Sdn Bhd,
            Commerce Resources Inc., Commerce Trading Inc., Crest Group, Crestek Inc. and Trident Timber Co. Ltd.

            Bank Islam claimed that the officers have acted contrary to the interest of BILL and were in breach of their statutory duties, common
            law duty of care and skill and express and/or implied contractual duties.

            All Defendants have entered their defences and currently Bank Islam is preparing its Reply and/or amendment to the Statement of
            Claim. The matter is fixed for case management on 28 August 2008.

            The 1st and 2nd Defendants are no longer in Bank Islam’s employment, while the 3rd and 4th Defendants are staff of Bank Islam
            and are currently being suspended from duty. Bank Islam will commence internal disciplinary proceedings against the 2 staff, which
            inquiry proceeding date is not yet fixed.




                                                                                                                                                        23
BIMB HOLDINGS BERHAD (423858-X)
(Incorporated in Malaysia)

B12   CONTINGENT LIABILITIES

      Prior to the amendments of Section 60AA of the Income Tax Act 1967 (Section 60AA), our subsidiary, Syarikat Takaful Malaysia Berhad
      reported that capital allowances had been claimed by way of deduction from tax adjusted income in both General and Family Takaful Funds.
      The amended Section 60AA stipulates that the tax adjusted income of the Shareholders’ Fund shall be ascertained by taking into account
      the amount of income distributed or credited from Family and General Takaful Funds and as a result both General and Family Takaful
      Funds would have nil tax adjusted income. As such, capital allowances claimable for the years of assessment from 1997 to 2008 would be
      lost permanently.

      The Malaysian Takaful Association and the Company are in discussion with the Ministry of Finance (MOF) and Inland Revenue Board for
      the capital allowances to be deducted from tax adjusted income in Shareholders’ Fund. No provision has been made by the Company for
      the potential tax liabilities of the previous and current years pending the outcome of the said discussion and future appeals. The potential tax
      exposure to the Company assuming that the deduction of capital allowances in Shareholders’ Fund is rejected by the MOF is approximately
      RM11.4 million. In addition, the Company would have to reverse its current balance of deferred tax asset which is in relation to unabsorbed
      capital allowances brought forward by approximately RM9.0 million.

B13   DIVIDEND PAYABLE

                                                                                       th
      The Group paid a 2% dividend in the current quarter which was paid on 4 January 2008. However, the Group did not declare any dividend
      in the current quarter.

B14   EARNINGS PER SHARE

      Basic earnings per share attributable to equity holders of the parent (“Basic EPS”)

      Basic EPS amounts are calculated by dividing profit for the period attributable to ordinary equity holders of the parent by the number of
      ordinary shares in issue during the period.

                                                                                                                              Cumulative
                                                                                             3 months ended                12 months ended
                                                                                            30/06/08      30/06/07        30/06/08       30/06/07
                                                                                            RM '000       RM '000         RM '000        RM '000


      Net profit/(loss) for the quarter attributable to equity holders of the parent         82,105        17,945         231,445           789,718
      Number of ordinary shares                                                             891,390       891,390         891,390           805,004

      Basic earnings per share attributable to equity holders of the parent
      (sen)                                                                                    9.21          2.01            25.96             98.10
                                                                                               0.00          0.00             0.00               0.00

      Diluted earnings per share attributable to equity holders of the parent (“Diluted EPS”)

      The assumed conversion of ESOS in the interim period will have an anti-dilutive effect on the earnings per share of the Group and is
      therefore not disclosed.



      By Order of the Board

      SAIFUL NIZAM YASIN (LS 08955)
      Company Secretary
      August 29, 2008




                                                                                                                                                         24
25
26
27
28
29
30
31
32
33
34
                       Effective
Trading                   Profit
  Book         Total       Rate
RM „000      RM „000          %


226,454   10,167,606       3.19

    -            -          -
 99,789       99,789       4.52
    -        189,446       2.27
    -      3,466,059       4.20

    -      8,333,915       8.51
    -        721,773        -
    -      4,798,347        -
326,243   27,776,935


    -     20,535,393       2.19

    -         58,443       4.56
    -        990,448        -
    -        910,153        -
    -     22,494,437

    -      1,235,223
    -      3,186,165
    -        861,110

    -     27,776,935




                                   35
                       Effective
Trading                   Profit
  Book        Total        Rate
RM „000     RM „000           %


 48,620    6,266,599       3.12

    -            -          -
337,551      361,551       6.44
    -        142,219       0.78
    -      3,478,379       4.14

    -      7,422,397       8.86
    -        980,888        -
    -      3,937,999        -
386,171   22,590,032


    -     17,388,633       2.56

    -         33,991       2.70
    -        109,189        -
    -        827,942        -
    -     18,359,755

    -        991,956        -
    -      2,611,779        -
    -        626,542        -

    -     22,590,032




                                   36
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73549

 -2271

78266


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