KUALA LUMPUR (Jan 18): CIMB Group Holdings Bhd is satisfied with its current capital position and is not looking at initiating any corporate exercise to raise funds.

"We are happy with the capital position that we are in. We will see a lot of our initiatives regarding capital optimisation come into play," group chief executive officer Tengku Datuk Seri Zafrul Aziz told pressmen after the grand finale of the CIMB ASEAN Stock Challenge 2015 here today.

"Last year was a difficult year for us. We have to undertake MSS (mutual separation scheme), which cost us money, and the rationalisation of our investment bank. So these hit our capital. But our retained earnings is enough and going forward, with our initiatives, [we] will see an increase in our CET1 (common equity tier 1). So we are not looking at any capital call, rights issue, or placement [exercise]," he said.

Meanwhile, on the reported retrenchment of 32 staff members in CIMB's Hong Kong investment banking and equities operations, Zafrul said it was due to very tough capital market condition across Asia, especially in Hong Kong itself.

"But we are not planning on doing any more MSS in Malaysia, nor in Indonesia. The focus this year will be looking at improving our productivity, and continuing our T18 agenda. In short, there will be no more MSS nor retrenchment," he said.

Unveiled in February 2015, T18, short for Target 2018, is CIMB Group's Mid Term Strategy Statement.

CIMB share price has been trending downwards of late.

In the past one month, its shares have fallen 12.9%. At noon break, they were trading at RM3.96, valuing the group at RM33.85 billion.

(Note: The Edge Research's fundamental score reflects a company's profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)