Bursa Malaysia Stock Watch

AMMB Holdings RM5.65: Hold

kltrader
Publish date: Thu, 17 Nov 2011, 03:43 PM
kltrader
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Within expectations. On expectations of more moderate earningsgrowth in 2H, AMMB's 1HFY12 net profit of RM811m (+15.7% YoY)was within estimates at 55% and 53% of our full-year forecast andconsensus respectively. Our forecasts and Hold call are maintained asis our target price of RM6.30 (1.6x CY12 P/BV, ROAE: 13.5%).

Maybank research (17 November 2011)

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