Bursa Malaysia Stock Watch

AMMB Holdings (Hold): To review proposal on Kurnia Insurans

kltrader
Publish date: Tue, 20 Dec 2011, 10:43 AM
kltrader
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Still early days. That AMMB could potentially acquire Kurnia Insurans Malaysia Bhd (KIMB) is a very preliminary consideration. Much depends on how negotiations develop and depending on pricing. Our scenario below points to little impact (+1%) on AMMB's earnings. We maintain our Hold call on AMMB with an unchanged TP of RM6.30 (1.6x CY12 P/BV, ROAE: 13.5%)

Maybank research (20 December 2011)

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