Media Release: Completion of Sale of CIMB ASEAN Research Institute

Completion of Sale of CIMB ASEAN Research Institute

Kuala Lumpur: CIMB Group (“CIMB” or “the Group”) today announced the completion of the sale of its 100% equity interest in CIMB Southeast Asia Research Sdn. Bhd. (“CARI”). CARI was set up in 2011 to support the ASEAN economic integration agenda by way of policy research and policy advocacy. The new owner of CARI, Tan Sri Dr. Mohd Munir bin Abdul Majid, its current Chairman, intends to continue with the think tank’s research and advocacy work.

CARI publishes industry-focused policy and position papers providing policy recommendations aimed at narrowing policy gaps in ASEAN. Many of its papers have been submitted to ASEAN Leaders, Ministers and ASEAN bodies and included in official ASEAN documents. Based in Kuala Lumpur, it has a wide network of partners spanning across ASEAN, Asia Pacific, North America and Europe.

CARI has received recognition from cabinet ministers and heads of governments of ASEAN as well as dialogue partner countries with some of them contributing to its publications. In 2020 CARI was the knowledge partner in the publication of key policy recommendations in “A Pathway Towards Recovery and Hope for Asean” (Pathway 225), recognised in the ASEAN Chairman’s Statement in November.

Dato’ Abdul Rahman Ahmad, Group Chief Executive Officer of CIMB Group said, “Tan Sri Munir, has been a driving force in promulgating the ASEAN integration agenda and we are confident of the continued success of CARI under his leadership. We wish CARI all the best and look forward to future collaborations between CIMB Group and CARI.”

“I wish to thank CIMB for their past support. In the last ten years, CARI has established itself as a thought leader and knowledge partner in ASEAN. I look forward to leading CARI to new heights in the years ahead, which will see huge sustainability issues challenging economic and political development,” said Tan Sri Dr. Munir Majid.