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KLSE: AMBANK       AMMB HOLDINGS BHD
Last Price Avg Target Price   Upside/Downside Price Call
4.49 5.10     +0.61 (13.59%)
* Average Target Price, Price Call and Upside/Downside are derived from Price Targets in the past 6 months.
** Price Targets are adjusted for Bonus Issue, Shares Split & Shares Consolidation (where applicable).
Date Open Price Target Price Upside/Downside Price Call Source News
28/08/2017 4.45 5.20 +0.75 (16.85%) BUY HLG Price Target News
25/08/2017 4.54 5.40 +0.86 (18.94%) TRADING BUY PUBLIC BANK Price Target News
25/08/2017 4.54 5.00 +0.46 (10.13%) BUY KENANGA Price Target News
23/08/2017 4.80 4.50 -0.30 (6.25%) HOLD MIDF Price Target News
23/08/2017 4.80 5.20 +0.40 (8.33%) HOLD HLG Price Target News
17/07/2017 5.10 4.91 -0.19 (3.73%) HOLD KENANGA Price Target News
02/06/2017 5.36 4.90 -0.46 (8.58%) HOLD UOBKayHian Price Target News
02/06/2017 5.36 5.40 +0.04 (0.75%) TRADING BUY PUBLIC BANK Price Target News
02/06/2017 5.36 5.55 +0.19 (3.54%) HOLD MIDF Price Target News
02/06/2017 5.36 5.25 -0.11 (2.05%) HOLD MAYBANK Price Target News
01/06/2017 5.21 4.90 -0.31 (5.95%) HOLD UOBKayHian Price Target News
01/06/2017 5.21 5.40 +0.19 (3.65%) TRADING BUY PUBLIC BANK Price Target News
01/06/2017 5.21 5.55 +0.34 (6.53%) HOLD MIDF Price Target News
01/06/2017 5.21 5.20 -0.01 (0.19%) HOLD HLG Price Target News
01/06/2017 5.21 5.20 -0.01 (0.19%) HOLD Affin Hwang Capital Price Target News
31/05/2017 5.09 5.25 +0.16 (3.14%) HOLD MAYBANK Price Target News
27/04/2017 5.43 5.00 -0.43 (7.92%) HOLD HLG Price Target News


Price Target Research Article/News (past 6 months)
28/08/2017  HLG AMMB Holdings - No Merger Hangover
25/08/2017  PUBLIC BANK AMMB - Business As Usual
25/08/2017  KENANGA AMMB - Gaining Traction on the Loans Front
23/08/2017  MIDF AMMB - Did Not Pass The Courting Stage
23/08/2017  HLG RHB, AMMB - Back to status quo
17/07/2017  KENANGA AMMB Holdings - ANZ: Ready to Sell?
02/06/2017  UOBKayHian Banking: RHBBank - AMMB Merger: Early Days Of Discussion
02/06/2017  PUBLIC BANK AMMB Holdings Berhad - Top 4 Fast-Tracked
02/06/2017  MIDF AMMB - A Potential Suitable Marriage
02/06/2017  MAYBANK Malaysia Banking - A Potential RHB-AMMB Merger
01/06/2017  UOBKayHian AMMB Holdings: 4QFY17: Impacted By Lumpy Real Estate Loan Impairments
01/06/2017  PUBLIC BANK AMMB Holdings Berhad - Waiting To See More
01/06/2017  MIDF AMMB - Earnings Growth Due To NOII
01/06/2017  HLG AMMB Holdings - Further Earning Recovery Sighted
01/06/2017  Affin Hwang Capital AMMB Holdings (HOLD, maintain) - A stronger 4Q17; major announcement pending
31/05/2017  MAYBANK AMMB - FY17 Results Below Expectations
27/04/2017  HLG AMMB Holdings - Loan growth gaining traction



  7 people like this.
 
casanwk nimble topup 4.5
14/09/2017 16:29
gcke Happy days,happy days,happy days...more to come.When in stock investing one needs patience and fortitude to ride through the temporary storm or market upheaval.
2.I have learnt so much from other forumers which help me well in my investing decision.
3.Together,we can earn some reasonable capital gains or returns from our investing choices or selections..
Take care:-)))
14/09/2017 16:31
casanwk next major reisitance
4.54
14/09/2017 16:32
cheoky Good. Year end a dividend as sweeteners
14/09/2017 17:12
meistsk3134 Lai liao.. congtraz who bought low price
14/09/2017 17:13
nicky yes... closed RM4.50. Hopefully RM4.72 tomorrow..lol
14/09/2017 17:18
gcke Today trading volumes at 11.897million units is the highest for the past 3 months which is very good.Increasing volume on price recovery towards the upside show strong buying momentum.
2.Hopefully tomorrow the journey to the next high can be achieved before we break off for the weekend.
Saturday 16 is Malaysia Day.
Take care:-)))
14/09/2017 17:29
Alex Foo fuiyo 4.5 today. thx gcke.

ok, alex declare ambank no longer lausai. c u tmr
14/09/2017 17:55
klse1997 Thanks gcke for ifrs9 explaination...
14/09/2017 18:19
meistsk3134 Dun too early celebrate. Wait real show coming 1st
14/09/2017 19:26
joetay really pays to be patient on this stock.

almost fell asleep while waiting.
14/09/2017 20:18
gcke If tomorrow can break through the 4.60 resistance level,then the next will be 2.64 and then 2.70.We will see how the market moves and trend momentum moves for the stock.
2.Hoping that DJIA will stay up tonight or there is no sudden adverse global news development.
Have a restful evening.
14/09/2017 20:42
deddymines http://www.theedgemarkets.com/article/resistance-nube-key-reason-ammbrhb-merger-failure-says-deutsche-bank

the real reason and not 1mdb
14/09/2017 21:31
shortinvestor77 Resistance from NUBE a key reason for AMMB-RHB merger failure, says Deutsche Bank

Author: moneyKing | Publish Date: 14 Sep 2017, 7:27 PM

Sulhi Azman/theedgemarkets.com

September 14, 2017 17:57 pm MYT



KUALA LUMPUR (Sept 14): Resistance from a trade union was a key reason for the failure of the proposed merger between AMMB Holdings Bhd and RHB Bank Bhd, according to an analyst with Deutsche Bank AG.

“Our visit to the National Union of Bank Employees (NUBE) reinforced our suspicion that staff issues might be a key reason for the merger to be called off,” research analyst Joshua Lee wrote in a report to clients today.

“NUBE was not consulted before the merger discussion announcement and they subsequently sent letters to the central bank, banks involved and the government. The union had two meetings with the banks before the merger was called off,” Lee added, noting that staff cost made up 53.5% and 57% of the total expenses at AMMB and RHB respectively.

Lee said his conversation with three banks — AMMB, Public Bank Bhd and Hong Leong Bank Bhd — and related parties, indicated NUBE has a “material presence” on the country’s banking operations.

He also observed that NUBE has been encouraging its members to upskill in order to stay relevant, and are attempting to unionise outsourced workers.

“That might slow down banks’ digitisation and cost reduction strategies,” Lee said.

Established under the Trade Unions Act 1959, NUBE represents around 20,000 bank employees in Malaysia.

Meanwhile, Lee also commented on Malaysia’s loans growth of 1.8% in the first half of 2017 (1H17), saying it was outpaced by the country’s economic growth of 5.7% in the same period.

“Historically, loan growth trends higher than the gross domestic product,” he said. “Our conversations with corporates indicate that many are using their internal funds for capex purposes, and are not planning major expansion that requires gearing up.”

Going forward, Lee said, “We note that banks are guiding for lumpy corporate loan pick-up in 2H17, especially from large infrastructure projects.”

“However, some corporates that we met are wary of being entangled in the ‘winner's curse’, and are happy to wait by the sidelines, until bidding rationalises,” he said, adding: “Nevertheless, they believe that supply will likely fall behind the demand generated by these infrastructure projects in the years ahead.”

As for the implementation of the new accounting standard, Lee said: “Surprisingly, banks are guiding that the impact of IFRS9 could be muted, with several guiding that there would be no impact to capital, with the likely usage of regulatory reserves.”

“Banks that have not disclosed any IFRS9 guidance have their systems in place and are currently doing back testing,” Lee added.

http://www.theedgemarkets.com/article/resistance-nube-key-reason-ammbrhb-merger-failure-says-deutsche-bank
14/09/2017 22:23
casanwk morning guys/ammbank mates
if today can break key resistance 4.54
plus strong volume and strong rsi
it will make another high!
cheers.....
15/09/2017 08:47
casanwk wow gap up!
15/09/2017 09:02
casanwk top up4.56
15/09/2017 09:02
Alex Foo warning, still got ppl want ambank lausai, trade with caution
15/09/2017 09:06
casanwk tq
checking indicators
still moving with long term trend direction
so far ema , moneny index, rsi looking goood
15/09/2017 09:21
casanwk yes break d 4.54!
15/09/2017 10:08
moneycome123456 Keep frying
15/09/2017 10:30
mxlitfly bloody north korea....they shot the missile again.......
15/09/2017 11:04
gcke IF not because of this maniacal,egoistic and boisterous Kim the stock price would have reached a new high again today.After touching 4.57 at opening it settled down between 4.52-4.53.Unfortunately,scuttled by today reported missile launch:-(((
2.Trump should not try to out-foxed and tamed this madman but to stay calm and open door for negotiation.But Trump's character is equally and eerily similar to this maniacal Kim.
3.I have just cut my holding on this stock because of the latest unwarranted provocation by the reclusive regime.
4.Such unpredictable geo-political situation in North East Asia reminds me of Cuba crisis during JKF's short reign.But fortunately for the world at that time we have a charismatic and strong leader like Kennedy.But not this time with Trump at the helm.
5.Are we entering an unpredictable and volatile times over such recent event...

Read- https://www.bloomberg.com/news/articles/2017-09-14/north-korea-launched-missile-over-japan-toward-pacific-ocean
15/09/2017 11:20
gcke Read further news from Bloomberg- https://www.bloomberg.com/news/articles/2017-09-15/north-korean-acts-become-like-boy-who-cried-wolf-for-markets
15/09/2017 11:22
casanwk dont worry!
this is not the first time
mkt will get used to this nuisance noise
15/09/2017 11:26
Alex Foo ambank pls hang on! dont laosai again pls~
15/09/2017 11:29
casanwk half hour from nk missile posting
rechecking system indicator
sill good and fine
:)
15/09/2017 11:30
Alex Foo no choice, i already hedge some % of my portfolio, if always see bad news and sell, very hard to play in stock market. In fact, market swing optimism and pessimism can be very fast, like this counter, yesterday cantik candle, today cannot perform?

nvm la, i already masuk, can only cheer for ambank now =)
15/09/2017 11:32
gcke Thanks,@casanwk for regular updates on the market trend and moves.Such calming persona and reassuring words help to soothe frayed nerves when trading on the equities:-)))
2.Good for that you hedge your portfolio @Alex Foo.

Further news from Bloomberg- https://www.bloomberg.com/news/articles/2017-09-15/north-korea-s-missile-launch-jolts-korean-stocks-currency-again
15/09/2017 11:49
Alex Foo @gcke

ya. you know, i used to be gold bug and have >70% portfolio in commodity. Then i hope market crash everyday. I think that kind of lifestyle is very depressing. So i liquidated many of them (keep 10%), and go to stock market with optimism.

Anyhow, i think that you're more experienced than me, so I'll be glad to learn from you =)
15/09/2017 11:52
assthrow i am fantasizing the new alternative fact: funds are selling CIMB.KL to switch over to AMBANK.KL.
15/09/2017 14:43
casanwk yes coast is cleared
back to party!
hehehe....
15/09/2017 14:49
gcke @Alex Foo under this AMMB forum everyone is a contributor.Every one selflessly and willing to post and share real-time market information on the stock price trend and moves,and also any news announcement.Every one cares,even though we may not know each other except through the posting and sharing:-)))
2.Agreed @casanwk that the momentum for the price support and moves are still intact.The MACD,RSI,stochastic all point to a bullish trend.

Outcome: Hope the price support is sustained and maintained towards the upside.
15/09/2017 14:56
investmalysia cimb has less upside compared to ambank. currently ambank buying momentum very good even the overall market is down. it will move higher
15/09/2017 15:01
moneycome123456 keep up up up...
15/09/2017 15:09
Alex Foo one more hour to go. jiayou ambank =) maintain above 450 ok d
15/09/2017 15:56
luckyeveryday moving again....
15/09/2017 16:05
meistsk3134 Stuck on 4.55 liao... same as rhb stuck on same value
15/09/2017 19:29
nicky Too bad ..didn't close above RM4.54
15/09/2017 20:00
goldentriangle North Korea launches missile over Japan

http://edition.cnn.com/2017/09/14/asia/north-korea-missile-launch/index.html
16/09/2017 07:15
contrarian AMMB Holdings - No Merger Hangover
Date: 28/08/2017

Source : HLG
Stock : AMBANK Price Target : 5.20 | Price Call : BUY
Last Price : 4.53 | Upside/Downside : +0.67 (14.79%)

Back

Highlights
Held briefing… We attended AMMB’s post-results briefing, and management clarified various issues in hands, including the scrapped merger.
Business as usual… Despite in merger discussion with RHB, AMMB delivered commendable 1Q18 results amid a quiet quarter due to Ramadhan and Hari Raya. To recap, AMMB posted results in line with HLIB and consensus with earnings growing by +1.6% YoY and +31.2% QoQ. However, this was due to partly lower than expected taxation rate of 19%.
Scrapped merger explained… AMMB refuted the claim that the merger was scrapped due to contingent liabilities. Management explained that both parties were unable to reach conclusion over various terms, among others pricing and synergies. Post-failed merger, AMMB will pursue organically its Top4 aspiration by 2020.
Clarification on contingent liabilities … It was reported in the news that AMMB is facing issue of contingent liabilities. AMMB explained that it is a norm for banks to incur certain contingent liabilities though banks are not expecting losses from these transactions. Relating to the above, AMMB incurred contingent liabilities from 2 products namely bank guarantee (BG) and letter of credit (LC). The group’s current contingent liabilities amounted to RM8.9bn (6.5% of total assets & 7.4% of total liabilities).
Broad-based income… Since Dato Sulaiman took the CEO seat, the primary objective is to grow four segments (namely wholesale banking, business banking, retail banking and general insurance) and optimize the income from wholesale banking. Such initiatives are picking up momentum whilst focus on key products namely cards and SME have already contributed to the NII growth in 1Q18.
Asset quality stills an issue… AMMB still reported net recoveries that lowered its credit cost. Management hinted that AMMB still could enjoy net recoveries throughout FY18 owing to 1-2 corporate accounts. Despite having a benign asset quality, management is watchful on corporate loans impairment. Exposure to the O&G and the commercial real estate sector stood at 2% and 8% of total gross loans.
Risks
Slower impact from de-risking of auto loan book and lower recoveries to impact bottom line.
Forecasts
Unchanged.
Rating
BUY (↔)

We feel that AMMB is showing progress towards its top 4 aspiration by 2020. SME loan spiked 19% on an annualized basis while further NIM recovery is in sight owing to gradual shift from fixed deposit into CASA. AMMB is currently trading at steep discount of 0.78 P/BV.
Valuation
Maintain our TP at RM5.20, TP was derived from GGM i) ROE of 8.8x ii) WACC of 8.9%. Maintain BUY.
Source: Hong Leong Investment Bank Research - 28 Aug 2017
https://klse.i3investor.com/servlets/ptres/41869.jsp
16/09/2017 11:20
moneycome123456 So, meaning is Ammb will up to 5.20 :)
16/09/2017 13:23
Allow1978 5.20 too low la...next year election and must fly to RM8 :D
17/09/2017 19:40
meistsk3134 ambank cannot tp8. higher price on rm6 only
17/09/2017 20:23
paulthesotong Ambank u next? ANZ done deal to sell its 20% Shanghai Rural Comercial Bank at price to book ratio 1.1 times. At least u worth 5.70..
19/09/2017 07:42
Alex Foo haha, i aim 5.5 only.....kesian ambank la....u all bully him. pre merger 5, post merge should go back to 5
19/09/2017 09:58
gcke Yeah, hopefully ANZ can find a suitable well-funded suitor to buy over their stake in AMMB.
2.Last two(2) days and today the stock price is on consolidation mode.
3.The MACD and RSI charts show and support positive price sentiment for the stock.
4.The MA10 is closing very near to the MA20 graph.The difference is only at 0.0500 today.Hopefully the trend and momentum move makes for a "Golden Cross" crossover in the coming days or before the end of the week.(NB: I have preference for the MA10 and MA20.Others will go for the MA50 and MA250 respectively).
5.Today,the USA Federal Reserve Board-FRB,(akin to our Central Bank that decides on the monetary policy) is starting their meeting until Wednesday.Our Bursa and other global equity markets also waiting further direction and decisions from the FRB meeting.

Outcome: Presently, price support for the stock seemed to be positive.
19/09/2017 11:43
limkokthye wait for 4.00
19/09/2017 11:50
gcke @limkokthye that can only happen IF for whatever reason the global equity markets crashed.But going by the latest news report from Bloomberg the emerging markets is just witnessing the beginning of the bull run.If things do not go wrong then such bull market as similarly witnessed in the past events will last for a time period of two years.
2.So do ensure your expectation is aligned with the present market sentiment.
3.Or you have something in your hands which we do not have?.Care to share with us to let all of us discern on the facts disclosed by you.
4.Otherwise such waiting will wear you down.
5.Not worth the waiting.Too stressful and not market-savvy.Cheers:-)))
19/09/2017 13:08
gcke Huhuhu...Gkent counter just make a "Golden Crossing" (where the MA10 breached upward on the MA20 line) today on the Technical Price chart to record a strong uptick in the stock price of 19-21 cents today.
2.Similarly,waiting for the same Golden Crossing to happen for the AMMB stock.It is getting closer with each passing day.
Cheers:-)))
19/09/2017 16:34


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