CIMB Group Holdings Bhd has officially resumed its plans for a dual listing on the Stock Exchange of Thailand (SET), after postponing it numerous times due to an unresolved double taxation issue. In a filing with Bursa Malaysia, CIMB Group said it had decided to resume its planned dual listing, following recent regulatory developments in Thailand. Established in 1998 as BankThai, CIMB Thai is the group’s consumer banking arm in Thailand. It was the 10th largest listed commercial bank in Thailand in terms of assets and the seventh largest in terms of market capitalisation at the end of 2011. It had a market capitalisation of about THB47.0 billion at the end of 2011, with shareholders’ funds of THB13.32 billion and total assets of THB168.02 billion. CIMB Thai offers a range of financial products and services to customers, both corporate and retail. At the end of 2011, CIMB Thai had 157 branches, 2.2 million customers, 533 ATMs and over 4,000 staff. CIMB Group Holdings Berhad has a 93.15% stake in CIMB Thai since 2009. “CIMB and its advisors would continue to hold discussions with the relevant authorities in Thailand on the details of the implementation of the proposed SET listing,” CIMB Investment Bank Bhd said on behalf of the group. Yesterday, the company submitted applications for the proposed listing to the Securities Commission (SC) and Bursa Securities. It said that the listing could take place by the end of the year if all approvals were obtained and implementation details ironed out. The proposed dual listing was earlier put on hold due to various key regulatory issues pertaining to tax-related matters (Source).