EARLYThesis forming — early stage, needs conviction
Investment Thesis
CIMB is the cleanest pan-ASEAN bank play with strong franchises in Malaysia, Indonesia, Singapore, and Thailand. Under CEO Novan Amirudin, capital allocation and digital strategy have sharpened. ROE expanding toward 12% target. Asean economic resilience to US/China decoupling tensions a structural tailwind. Dividend yield around 5.5%.