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Overview
Financial Highlight
HeadlinesBusiness Background Malaysia Building Society Bhd is a Malaysia-based company. The company operates through four major segments: a financing business, which grants loans on the security of freehold and leasehold properties and offers retail financing and related services; a property development business, which develops residential and commercial properties; a business that leases real property, which leases out office buildings; and a hotel operation business, which leases hotel rooms, in addition to retail and other related business. The company also operates a business in project management and investment holding. It generates the majority of its total revenue from the financing business, and conducts business solely in Malaysia.
  Good123 few months later, jadi. MBSB to become Islamic banking counter within 2 years - The ... 12 Jun 2019 · “We have converted more than 85 % of our assets into Islamic assets. The remaining, worth about RM1 billion, could not be converted . 24/09/2020 11:01 AM Good123 good to accumulate, next year jadi Islamic counter, boleh Jual kepada Dana middle East :) 24/09/2020 11:05 AM Good123  KUALA LUMPUR: Bursa Malaysia was seen extending its rebound on Tuesday as financial heavyweights rose on positive sentiment over China's factory data and progress in the development of a Covid-19 vaccine. At 12.30pm, the FBM KLCI was up 6.45 points to 1,517.81. While glove makers were mostly submerged on optimism over the vaccine, Hartalega advanced, rising RM1.08 to RM14.08 to lead the index higher. Meanwhile, Maybank gained eight sen to RM7.36, Public Bank rose 14 sen to RM16.18, Hong Leong Bank climbed six sen to RM14.86 and CIMB added four sen to RM3.19. In actively traded stocks, Parkson held on to its gains from the previous session and tacked on an additional one sen to 20 sen. Hiap Teck gained 2.5 sen to 25 sen and Anzo jumped 4.5 sen to 13.5 sen. With 5.85 billion shares exchanging hands valued at RM3.42bil, investors remained active on the domestic market. According to Malacca Securities Research, the FBM KLCI remained upbeat with investors seeking higher yields on the equities markets. "Meanwhile, the robust trading sentiment will continue to see rotational play on the table over the near term. "However, we also bouts of quick profit-taking activities ahead of the mid-week break," it said. On the technical charts, the research house expects the short-term upward bias to continue to take shape. As at the lunch break, the key index had crossed Malacca Securities' immediate resistance of 1,515 and was looking towards the next resistance of 1,555. On the regional front, China's key index was up 0.3%, buoyed by positive August industrial production data. Hong Kong's Hang Seng was up 0.5%. Japan's Nikkei however was down 0.5%. 24/09/2020 11:37 AM Good123 mbsb will be included in shariah funds/unit trusts few months later.full fledged Islamic bank counter in 2021 24/09/2020 2:25 PM Victor Yong Investment Highlights We maintain our BUY call on Malaysia Building Society (MBSB) a revised fair value (FV) of RM0.78/share from RM0.62/share. Our revised FV is based on a higher ROE of 7.2% for FY21, pegging the stock to a P/BV of 0.6x (previously: 0.5x). We raise our FY20/21/22 earnings by 22.6%/23.1%/9.4% to reflect lower funding cost and higher non-interest income (NOII). The stock is trading at a cheap valuation of 0.4x P/BV with the potential for the group to further monetize gains on its financial investments due to the decline in MGS yields. The group reported an underlying net profit of RM500mil (>100% QoQ) in 2Q20 after stripping out the modification loss of RM513mil which was due to the loan moratorium. RM471.4mil or 91.9% of the total modification loss was contributed by the waiver of interest payments on fixed rate personal financing for the 6-month moratorium (AprSept 2020). Moving into 4Q20, modification loss will be significantly smaller than in 2Q20 circa RM25–50mil. This is in view of the moratorium extension for another 3 months (Oct–Dec 2020) that is only be for the unemployed. 2Q20 core earnings improved on the back of lower funding cost with a decline in total deposits due to withdrawals, shortened tenure of deposits and the lower outstanding balances on sukuk murabahah. 6MFY20 net profit margin (NPM) expanded by 27bps YoY to 3.11% with the reduction in cost of funds. 2Q20 saw its funding cost falling by 70bps to 3.06%. With the consecutive OPR cuts, MBSB has advantage compared to its peers with its 52.3% financing in fixed rate. This has also helped to widen its profit margin in a declining interest rate environment. Management is now guiding for a profit margin of 3.0% vs. 2.5–2.6% previously. In 2Q20, the group recorded higher gains from sale of FVOCI securities of RM107.5mil, coupled with a net writeback in allowances for loan losses of RM54mil. For 6MFY20, the group delivered core earnings of RM427mil (124.6% YoY), underpinned by higher total income. Total income grew 27.2% YoY to RM892mil attributed to higher Islamic banking and NOII. Normalized earnings for 6MFY20 were above expectation, making up 102.0% and 100.0% of our and consensus FY20 net profit estimates respectively. Source: AmInvest Research - 27 Aug 2020 25/09/2020 8:32 AM Jeffreyteck Revise TP to $0.40 amid potential 3rd consecutive losses and worst performer in the industry. Unless plan to merger, no hope and don't hope. 25/09/2020 2:01 PM kasinathan Cold eye top up another 10kk share was in May but my stock broker told me he disposing his stake started on this Monday. 30/09/2020 11:16 AM kasinathan NPL is expected to hit record high in the next quarter result announcement. Close to 4% 30/09/2020 11:17 AM Maxigain If cold eye selling at this level means he Fxxed up in his investment...bought at the high sold at almost the low...estimated losses rm20 over millions 30/09/2020 4:32 PM Maxigain In fact he portfolio is disastrous. Look at his sapura..Maybulk salute..no eye see 30/09/2020 4:34 PM moneycome123456 Every counter price go down must have many negative comments. Just believe yourself. 01/10/2020 8:22 AM Fattchai @moneycome123456 yes believe yourself, i believe this counter will going up soon 01/10/2020 9:30 AM  apanama Last time i enter at 54sen..then i takr profit at 68sen..now i advise you guys dont rush to buy.. 40sen or even lower is coming for MBSB.. because if CIMB can buy at 2.70 n lower.. Why must u buy MBSB above 50sen..dont rush.. Market will come down before US ELECTION.. 03/10/2020 10:45 AM  Vinshing Mbsb unable to give value to shareholders especially those already hold few years ago and .accept share reinvestment scheme . business not growing well 05/10/2020 11:38 AM Jeffreyteck Sabar, sabar, only loss two quarters. Leading all banks in terms of losses. Sabar sabar. 11/10/2020 6:37 PM Yippy68 we should give the management team a chance to prove themselves after counter name changed to MBSB BANK.. sabar, wait for a little while. 12/10/2020 5:51 AM Yippy68 i think at 51 sen is the right price to buy.,, even if you consult cold eye, he will say that., he may be regretted as he has bought too early. i think his cost should be about 65 sen, my pure guess. 12/10/2020 5:56 AM kasinathan Expected another Rm300 million impairment to be provided in Qtr 3. Glcs always didn't perform in bad economy condition. 12/10/2020 11:58 AM aliyusof Cold Eye lost his pants in MBSB. Useless CEO. What to expect, he from previous lousy Perwaja, now a iquidated company, delisted from Bursa 16/10/2020 6:04 AM kasinathan Cold eye had increased again his stake to 60Kk share in the past 2 weeks according to his macai. Something is brewing on MBSB? 16/10/2020 5:04 PM carefulpeeps Lim Tian Huat, the senior independent director of mbsb is under MACC investigation for corruption. Corrupt director indeed! 19/10/2020 9:21 AM 陈国荣 Hold this stock from 2018 Sep, sold couple weeks ago. Average cost 0.905. Don't know why this company share price keep down. Make money in past few years. 21/10/2020 2:19 PM kasinathan Value is appeared to be very attractive at 0.50 with Dividend yield at 6% and Net tangible asset (Rm1. 28) discounted rate at 60%. This is to say you pay 40% to the NTA only and expected to get 6% dividend. The ten years cycle of bear market had provided such wonderful opportunity for the value investor to accumulate MBSB. Of course this share is not suitable for short term speculators 22/10/2020 7:29 AM kasinathan Accumulate now and awaiting for the earning recovery which is expected on second half of 2021. In the meantime, EPF and other institutional investors would be provided a strong support to the price stability. Thus, the downside risk is rather limited at the current price ranges. As for the upside potential, MBSB would offer 100% of capital gain when the price is expected to hit a ringgit level in tandem with the earning recovery and conversion into a full fledge of Islamic banking on next year! Beautiful and wonderful! 22/10/2020 7:45 AM Jeffreyteck Q3Q4 is expected to be very bad yoy as last year is too good. TP 0.40. 25/10/2020 4:36 PM  davors i am thinking will budget2020 revive moratorium? and the impact on bank/finance sector... 26/10/2020 4:47 PM InvestorJ https://www.klsescreener.com/v2/news/view/744953/mbsb-to-return-to-profit-in-3q-ahead-of-potential-leadership-changes 26/10/2020 5:20 PM maximus . just curios..actually when moratorium apply...borrowers actually are paying more for the interest, so bank are the one who earn this...... 27/10/2020 8:25 AM  |
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