Bursa Malaysia Stock Watch
RHB Cap (Hold) - Better FY12 Earnings Outlook
kltrader
Publish date: Wed, 29 Feb 2012, 04:06 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.
RHB Cap (Hold)
Better FY12 Earnings Outlook
- FY11 results in line with HLIB and consensus.
- Final div of 11.82 sen and single-tier 5.59 sen, FY11 30% payout in linewith unchanged policy and HLIB's projection
- Missed FY11 ROE KPI due to one-offs but management already gave earlywarning while asset quality as well as loans and deposits growth were ahead ofKPIs.
- FY12 KPI of >14% ROE (post acquisition of Mestika and RI). HLIBROE projection is at the lower end.
- Management assured that it has already made sufficient impairment forthe CLO exposure.
- We expect FY12 earnings enhancement from: 1) absence of the one-offs; 2)guidance of improving NIM; and 3) benefits of 400 new touch points to graduallyfilter through.
- Mestika and OSK M&As slated for completion by1HFY12.
- Raised FY12-13 forecasts by 10-11% (absence ofone-offs).
- Maintain Hold.
- Target price raised to RM7.85 based on Gordon Growthwith ROE of 14.5% and WACC of 11.4%, from RM7.37.
Source: HLIB Research 29 Feb 2012
Related Stocks
| Chart | Stock Name | Last | Change | Volume |
|---|
More 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 16:30:00
EMA 5
30 Mins
SELL
2024-07-24 16:30:00
EMA 5
10 Mins
SELL
2024-07-24 16:20:00
EMA 5
5 Mins
SELL
2024-07-24 15:30:00
EMA 5
5 Mins
BUY
2024-07-24 15:30:00
EMA 5
10 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
THE INVESTMENT APPROACH OF CALVIN TAN
TSH RESOURCES (9059) VERSUS JOHOR PLANTATION GROUP (5323) Compare & Contrast, Calvin Tan
#
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....
