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.
Banking and Finance
CIMB Bank to Buy 16 Properties from EPF for RM209.81M, Ending Lease Agreement
CIMB Bank buys 16 properties from EPF for RM209.81M, ends lease, retains assets for banking operations.
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