CIMB Bank will acquire 16 properties from the Employees Provident Fund (EPF) for RM209.81 million in cash, ahead of the lease expiry on June 30, 2025. The properties, part of a 2009 sale and leaseback deal, are currently used for CIMB Bank’s operations. CIMB Group Holdings Bhd signed sales and purchase agreements with EPF, a major shareholder, on April 30, 2025, and terminated the lease agreement. CIMB Bank is obligated to repurchase the remaining eight properties at a pre-determined price if EPF cannot sell them to third parties. The acquisition aligns with CIMB Bank’s strategy, supports its ongoing operations, and is expected to positively impact its 2025 financials.
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