CIMB's investment in Tricubes Bhd is on behalf of clients through private equity funds, group chief executive officer Datuk Seri Nazir Razak said today.
Stressing that CIMB did not own the company, he said the investment already existed in 2001 with a 15% stake.
"We are not involved with the management. We have no board representation ... it's a completely passive stake.
"Any suggestion that we are somewhat involved in the business is totally malicious," Nazir told reporters in response to reports that CIMB had an investment in Tricubes.
Tricubes, an IT services provider, was recently awarded the 1Malaysia email project.
He explained that he only knew about the investment after someone showed him a blog that reported on the issue.
In another development, Nazir said the CIMB group is looking for opportunities to enter Laos and the Philippines, going forward.
However, he said there is no urgency to enter both markets, as the group has a strong presence in other Asean countries.
