Bursa Malaysia Stock Watch

BIMB Holdings: Maintain Buy - Hurdles for STMB in Indonesia?

kltrader
Publish date: Fri, 04 May 2012, 09:55 AM
kltrader
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No material impact. While there may be uncertainty surrounding Syarikat Takaful's (STMB) shareholding in PT Syarikat Takaful Indonesia (PT Takaful), we do not expect this to affect our earnings nor valuations for the BIMB group. Growth over the next few years will be driven by domestic activities while Indonesia really is the icing on the cake over the longer term. Our Buy call on BIMB is maintained with an unchanged SOP-derived TP of MYR2.95.

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Source: Maybank Research - 4 May 2012
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