Bursa Malaysia Stock Watch
MAYBANK - Ex EIs, Momentum Still Intact
kltrader
Publish date: Fri, 24 Feb 2012, 10:33 PM
kltrader
0 20,407
This blog provides consolidated Bursa Malaysia stock market research, analysis, news and blogs from various sources. You can search and find all the past analysis and coverage on stocks and news by searching within this site. While this blog re-publishes contents from other sites, it does not own the rights nor responsible for the accuracy of the contents. If you disagree to your content from being published here, please add a comment, and your article will be removed from this site.
Maybank (Buy)
- Excluding two one offs, FY12/11results were in line with HLIB but slightly below consensus.
- Final div 36 sen(32 sen DRP), > HLIB's 25 sen projection.
- Core earnings growth momentum intact with double-digit Loans and deposits growth. Coupled with the one offs, exceeded most FY12/11 KPIs.
- FY12/12 ROE KPI of 15.6% vs.HLIB's 15.3%. Targeting double-digit loans and deposits growth,increasing LDR to 90% but 10bps erosion in NIM.
- Asset quality improved with deterioration evidences. However, to be conservative, it is guiding for credit charge of 35-40bps (vs. 25bps in FY12/11).
- Group capital ratios can meet Basel III. Management intends to continue with DRP (given the clear benefits) post expiry of Section 108 tax credit by end FY12/12.
- FY12-13 raised by circa 5% post final results.
- Maintain Buy.
- Target price raised to RM10.12 (from RM9.50) based on Gordon Growth with ROE of 15.6% and WACC of 9.9%.
Related Stocks
| Chart | Stock Name | Last | Change | Volume |
|---|
Market Buzz
2024-07-25
MAYBANK2024-07-24
MAYBANK2024-07-24
MAYBANK2024-07-23
MAYBANK2024-07-23
MAYBANK2024-07-23
MAYBANK2024-07-23
MAYBANK2024-07-22
MAYBANK2024-07-22
MAYBANK2024-07-19
MAYBANK2024-07-19
MAYBANK2024-07-18
MAYBANK2024-07-18
MAYBANK2024-07-18
MAYBANK2024-07-17
MAYBANK2024-07-17
MAYBANK2024-07-17
MAYBANK2024-07-17
MAYBANK2024-07-16
MAYBANK2024-07-16
MAYBANKMore articles on Bursa Malaysia Stock Watch
Tambun Indah - The 2nd Penang Bridge To Narrow Property Price Gap
Created by kltrader | Oct 11, 2012
Plantation ' Share Prices Not Reflecting CPO Price Movement ' Is A Correction Coming? (Neutral)
Created by kltrader | Oct 11, 2012
Discussions
Be the first to like this. Showing 0 of 0 comments
Post a Comment
Featured Posts
Introducing MY's First IPO Fund for Sophisticated Investors!
New Update. Discover investment communities that resonate with your ideas
M & A Value Partners IPO Equity Fund has been launched - Targeted 13% Return p.a
Latest Videos
MQ Trading Signals
Time
Signal
Duration
Type
2024-07-24 16:00:00
TURTLE SYSTEM 20
Hourly
BUY
2024-07-24 15:45:00
TURTLE SYSTEM 20
5 Mins
BUY
2024-07-24 15:45:00
TURTLE SYSTEM 55
5 Mins
BUY
2024-07-24 15:35:00
EMA 5
5 Mins
BUY
2024-07-24 15:35:00
MACD/RSI
5 Mins
BUY
Apps
Top Articles
1
BFM Podcast
2
CGS-CIMB Research
Genting Plantations - Proposed Land Acquisition in Indonesia
3
4
Koon Yew Yin's Blog
6
save malaysia!
8
Good Articles to Share
#
Stock
Score
Daily Stocks
Stock Name
Last
Change
Volume
Stock Name
Last
Change
Volume
Stock Name
Last
Change
Volume
Featured Advertisers / Partners
Ride The Bull Short The Bear
CS Tan
4.9 / 5.0
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
