Posted by shortinvestor77 > 2017-07-20 08:55 | Report Abuse

Wolf is coming!

Posted by shortinvestor77 > 2017-07-20 08:55 | Report Abuse

KUALA LUMPUR: Affin Hwang Capital Research is maintaining its Buy call on CIMB Group with an unchanged 12-month price target of RM7.50, which is 16.8% above the last traded price of RM6.42.

It said on Thursday the target price was based on a target price-to-book value (P/BV) of 1.4 times, underpinned by the 2018E return on equity (ROE) of 9.6% and 8.3% cost of equity assumption. 

“Overall, we have a more optimistic view on CIMB’s prospects in 2017, with our earnings assumptions as follows: i) steady net interest margins (NIM) above 2.6% (vs. management’s guidance of less than 2.6%); ii) 2017-19E loan growth target of 6%-7%; iii) fund-based income growth of 5%-6% per annum; and iv) credit costs at 53 basis points (bps) to 56bps in 2017-19E (vs. 74bps in 2016). 

“Downside risks – further deterioration in asset quality, market competition on rates and NIM pressure,” it said.

It issued the report after CIMB Thai’s 2Q17 net profit jumped up on-year and on-quarter CIMB Thai’s 2Q17 net earnings of 356.6mil baht (RM45.4mil) rose by a significant 794% on-year and 194.2% on a on-quarter basis. 

For 1H17, net profit stood at 477.8mil baht (RM60.9mil, 30% on-year), largely attributable to a decline in impaired loan allowances (-6.2% on-year; credit cost down from 245bps in 1H16 to 235bps in 1H17) and a 2% on-year reduction in operating expenses (1H17 CIR at 53.6% vs. 53.8%). 

CIMB Thai’s 1H17 net income was, however, marginally lower by 1.6% on-year in the absence of non-recurring gains from the sale of AFS securities and slower treasury gains; though it was supported by higher fee income ( 21.5% on-year) and net interest income ( 2.1% on-year). 

Meanwhile, efficient funding cost management boosted the NIM from 3.79% in 1H16 to 3.81% in 1H17. During 1H17, gross loans were flat on-year, but had decreased by 2% from end-2016. 

 Asset quality improved after the sale of NPLs in Jan 2017 Subsequent to the sale of NPLs (completed in Jan 2017), CIMB Thai‘s gross NPL ratio improved from 6.1% in 2016 to 5.4% while the loan loss cover increased to 84% as at 2Q17 from 77.3% as at 4Q16.

Posted by suregain > 2017-07-20 09:59 | Report Abuse

y down?

Posted by AlphaBetaGamma > 2017-07-20 10:12 | Report Abuse

Khazanah disposing huge block(90.5m shares) in CIMB Group Holdings Bhd in the RM6.31 to RM6.42 per share range

Posted by suregain > 2017-07-20 10:19 | Report Abuse

so game over?

Posted by Kyou > 2017-07-20 10:31 | Report Abuse

Lol..only one day show...today bek to 6.30-.-"

Posted by masterus > 2017-07-20 10:41 | Report Abuse

Remember, now be your friends, future at be your enemy. Now your enemy, future may be your friends. No forever friends or enemy.

Posted by suregain > 2017-07-20 10:51 | Report Abuse

purposely press down to px

Posted by Kyou > 2017-07-20 11:00 | Report Abuse

Wait for Cimb m'sia result out ... after tat might hit new high Rm7

Posted by predictor1234 > 2017-07-20 11:11 | Report Abuse

@AlphaBetaGamma, how do you know?

Posted by shortinvestor77 > 2017-07-20 11:26 | Report Abuse

http://www.klsescreener.com/v2/news/view/257866

Posted by shortinvestor77 > 2017-07-20 11:27 | Report Abuse

KUALA LUMPUR (July 20): CIMB Group Holdings Bhd fell as much as 12 sen or 2% on profit taking, after the stock rose on its Thailand unit's profit rise.
 
CIMB Group shares fell to their lowest so far today at RM6.30. At 10:14am, the stock was traded at RM6.31, for a market value of RM57.12 billion.

CIMB Group, which saw some seven million shares traded, was Bursa Malaysia's third-largest decliner. Yesterday, CIMB Group shares rose nine sen to RM6.42.

Yesterday, CIMB Group said CIMB Thai Bank PCL's THB356.64 million (about RM46.36 million) net profit in the second quarter ended June 30, 2017 (2QFY17) rose from THB39.89 million a year earlier. For 1HFY17, CIMB Group said CIMB Thai's net profit climbed to THB477.84 million, from THB367.23 million a year earlier.

Today, RHB Research Institute Sdn Bhd analyst Fiona Leong said RHB maintained its "buy" call for CIMB Group shares with a target price of RM7.10, following CIMB Thai's announcement.

"CIMB Thai’s sustained improvement in profitability in 2Q17 reinforces our view that the bank would see a recovery in FY17 net profit. That said, CIMB Thai is not a significant earnings generator at the group level. Thailand contributed 6% to CIMB’s 1Q17 pre-tax profit, after incurring a loss of RM79m in FY16," Leong said.

Posted by shortinvestor77 > 2017-07-20 11:28 | Report Abuse

Affin TP 7.50 , RHB TP 7.10 for CIMB

Posted by Beza > 2017-07-20 11:31 | Report Abuse

Sellers will regret too early to sell.

Posted by Beza > 2017-07-20 11:32 | Report Abuse

Buyers will happy to buy it.

Posted by shortinvestor77 > 2017-07-20 11:34 | Report Abuse

http://www.klsescreener.com/v2/news/view/257872

Posted by shortinvestor77 > 2017-07-20 11:34 | Report Abuse

HONG KONG/KUALA LUMPUR (July 20): Khazanah Nasional Bhd raised US$131 million, after selling shares of CIMB Group Holdings Bhd at the bottom of a marketed range, according to people with knowledge of the matter.

Khazanah sold 90.52 million shares at 6.31 ringgit apiece, the people said, asking not to be identified because the information is private

* NOTE: Sale price represents 1.7% discount to last close
* NOTE: Shares were offered at 6.31 ringgit to 6.42 ringgit each

* A representative for Khazanah declined to comment

Posted by shortinvestor77 > 2017-07-20 11:35 | Report Abuse

True. Khazanah sold it at bottom.

Posted by charles_cty > 2017-07-20 12:16 | Report Abuse

SINGAPORE: Khazanah Nasional Bhd has launched a RM$571mil to RM$581mil (US$133mil to US$136mil) block in CIMB Group Holdings Bhd in the RM6.31 to RM6.42 per share range.

The price represents up to a 1.7% discount to the pre-deal close.

Around 90.5 million shares, or 1% of the share capital, are being sold in the block. There is an undisclosed upsize option depending upon the response to the offer.

There is a 60-day lock-up on Khazanah, which owns 29.1% of CIMB.

CIMB and JP Morgan are joint book runners. - IFR

Posted by Bulat > 2017-07-20 13:13 | Report Abuse

this stock still good or bad

Posted by victory015 > 2017-07-20 14:32 | Report Abuse

is cimb earnings declining or increasing ?

Posted by suregain > 2017-07-20 14:48 | Report Abuse

medium term should be ok...

Posted by TheLegend27 > 2017-07-20 15:54 | Report Abuse

could it be because cimb value is 4.xx so khazanah wanna grab this profit at 6 something?

Posted by suregain > 2017-07-20 16:17 | Report Abuse

if khazanah sell, who buy?

Posted by shortinvestor77 > 2017-07-20 17:24 | Report Abuse

Whenever Najib need urgent money, Khazanah will sell. Normal. CIMB will display a good result again next Q.

Posted by curious2 > 2017-07-20 17:26 | Report Abuse

Not first time Khazanah sell and no shortage of buyers. FF, EPF, KWAP got money to pick up.

Posted by suregain > 2017-07-20 20:08 | Report Abuse

So,this,is,just normal,case la.. soon wil bounce back

Posted by TheLegend27 > 2017-07-21 09:41 | Report Abuse

6.35 is undervalue?

Posted by masterus > 2017-07-21 10:06 | Report Abuse

Bottom falling out of US dollar: Drops to near 2-year low vs the euro, 2017 loss now 10%
The dollar hit a nearly two-year low against the euro, after the European Central Bank signaled it could start discussing in the fall a plan to pare back its bond purchases.
The dollar was also under pressure because of concerns the Russian investigation could slow down tax reform and other pro-growth policies of the Trump administration.
One strategist said there's no longer any resistance against dollar weakening.
Patti Domm | @pattidomm

Posted by masterus > 2017-07-22 07:09 | Report Abuse

Us dollar index is 93.97 down from previous close 94.24

Posted by 118888 > 2017-07-23 10:19 | Report Abuse

RM 7-Aug or Sep?

Posted by Larrytrader > 2017-07-23 13:29 | Report Abuse

RM7 soon

Posted by masterus > 2017-07-23 14:56 | Report Abuse

U.S. Dollar Sunk by Wave of Buying in Aussie, Euro
23 hours agoByJames Hyerczyk
The U.S. Dollar hit its lowest level against a basket of currencies since August 2016 last week as a boatload of negative factors piled up against the Greenback, causing investors to lose confidence in the currency.
September U.S. Dollar Index futures finished the week at 93.679, down 1.251 or -1.32%.
U.S. Dollar Index
Weekly September U.S. Dollar Index
The dollar was under pressure at the start of the week because dovish comments from Fed Chair Janet Yellen and disappointing consumer inflation and retail sales the previous week lowered the chances of a third Fed rate hike later in the year.
Last week’s selling pressure came in waves. The first wave of selling was fueled by a steep rally in the Australian Dollar that was caused by hawkish comments from the Reserve Bank of Australia (RBA). The second wave of selling was attributed to hawkish comments from European Central Bank (ECB) President Mario Draghi, which drove the Euro to a multi-year high.

Posted by godshare > 2017-07-23 20:04 | Report Abuse

CIMB investment in PT Modern (10%) and loan for operation in 7 Eleven will likely reduce the profit for the coming quarter when 7 Eleven closed all outlet in Indonesia.

Posted by Hangsolo > 2017-07-24 08:37 | Report Abuse

http://www.thestar.com.my/business/business-news/2017/07/24/cimb-in-major-fintech-move/

Posted by shortinvestor77 > 2017-07-24 09:11 | Report Abuse

Good. Wait and see.

Posted by masterus > 2017-07-24 10:54 | Report Abuse

Copper up on China growth, weak US dollar
JULY 24, 20177:51AM
Maytaal AngelReuters
Copper has hit a 4-1/2 month peak, fuelled by strong growth in top copper consumer China, a weak US dollar and worries about supply disruptions.

The dollar hit a two year low versus the euro, as the single currency rallied on bets the European Central Bank would tweak its policy stimulus in the autumn.

A weaker dollar makes dollar-priced copper cheaper for non-US investors.

Also helping copper, China's economy expanded faster-than-expected in the second quarter, data showed Monday, setting the country on course to comfortably meet its 2017 growth target.


"Overall demand in China is not that bad at all," said Richard Fu, head of Asia and Pacific at LME Floor Member AMT.

"In general global economic figures are improving, there's supply disruptions here and there, plus the Chinese want to cut metal production in order to tackle pollution and over-capacity," he added.

FUNDAMENTALS

* LME COPPER: Three-month LME copper rose 1.17 per cent to $US6,028 a tonne by 0956 GMT, having earlier hit its highest since March 1 at $US6,042.50.

* INVENTORIES: Copper inventories in Shanghai Futures Exchange-monitored warehouses fell 4.9 per cent from last Friday to their lowest since January.

* PERU STRIKES: Unionised workers in Peru, the world's second-biggest copper producer, began a nationwide strike on Wednesday to protest against labour reforms, but significant disruptions to output were not expected.

* WAGE TALKS: Union-represented workers and management at Antofagasta's Zaldivar copper mine failed to reach a wage deal on Thursday and agreed to extend government-mediated talks into next week.

* COPPER DEFICIT: The global world refined copper market showed a 53,000 tonnes deficit in April, compared with an 18,000 tonnes deficit in March, industry data showed.

* CHINA FORECASTS: The Asian Development Bank raised its 2017 and 2018 growth forecasts for China and other countries in the region.

* ALUMINIUM OUTPUT: Daily average primary aluminium output excluding China rose to 70,300 tonnes in June, from 70,000 tonnes in May, industry data showed.

"Although sweeping production cuts were announced in recent months, especially in China, they have not been implemented so far or have been offset by new capacities. We see no justification for the high aluminium price," said Commerzbank in a note.

* SPREADS: Discounts of cash copper, aluminium and lead to their three-month contracts were near multi-year highs, signalling ample nearby supply. , ,

* US ECONOMY: Jobless claims fell more than expected to the lowest level in nearly five months, suggesting strong job gains that should continue to underpin economic growth.

* TRUMPCARE: Republicans failed to resolve differences on healthcare legislation, fuelling doubts that President Donald Trump can deliver promised economic stimulus that would boost demand for metals.

Posted by ImCK > 2017-07-24 14:34 | Report Abuse

cimb will be the lead soon touch n go just annouce mobile e-wallet with alipay
the 1st local bank with fintech . touch n go is popular be used compare others

Posted by ImCK > 2017-07-24 14:39 | Report Abuse

http://www.theedgemarkets.com/article/cimb-subsidiary-touch-n-go-teams-alipay-launch-ewallet

Posted by ImCK > 2017-07-24 14:42 | Report Abuse

http://www.enanyang.my/news/20170724/%E8%9A%82%E8%9A%81%E9%87%91%E6%9C%8D%E7%99%BB%E9%99%86%E5%A4%A7%E9%A9%AC-%E5%81%95%E4%B8%80%E8%A7%A6%E5%8D%B3%E9%80%9A%E6%8E%A8%E7%A7%BB%E5%8A%A8%E6%94%AF%E4%BB%98/
蚂蚁金服登陆大马-偕一触即通推移动支付

Posted by masterus > 2017-07-24 23:16 | Report Abuse

The dollar index is on a two-week losing streak, and some strategists expect further downside.

The index, which measures the value of the U.S. dollar relative to a basket of foreign currencies, including the euro, fell Friday to its lowest level since June 2016. The slide came as the euro surged against the greenback and a string of negative news flowed out of Washington early in the session.

When asked if he would buy the U.S. dollar at this juncture, given its beaten-down condition, Crossing Wall Street blog editor Eddy Elfenbein said, "I'm not, and I've got to say, it is an ugly chart, and I think it's going to get even uglier."

"The dollar seems to go down a little bit just about every single day," he said Friday on CNBC's "Trading Nation." He said last week's weakness was due in part to the euro's strength following remarks from European Central Bank President Mario Draghi.

Draghi did not mention "the strength of the euro as being a problem, sort of like the dog that did not bark, and when central bankers give a green light, traders are in the habit of following along. I think it is going to continue to get worse for the dollar and then, of course, we have a Fed meeting coming our way next week," Elfenbein said.

Higher interest rates typically tend to increase the value of that country's currency relative to that of foreign currencies. But that's not always the case, said Chris Verrone, head of technical analysis for Strategas Research Partners.

"In five of the last six times the Fed has raised rates, you've seen the dollar go lower, not higher," Verrone said Friday on "Trading Nation." "So this price action really hasn't been that abnormal from what history tells us should happen. I think the question here is, tactically, do we set up for a bounce? Look to 92.5, 93 for support in the near term."

On Monday, the dollar index was trading at 93.91, and has declined more than 8 percent this year.

Posted by TheLegend27 > 2017-07-25 07:23 | Report Abuse

Nasdaq le?

Posted by Beza > 2017-07-25 09:24 | Report Abuse

Up lah! Bodoh goldentriangle. Cry lah!

Posted by labu83 > 2017-07-25 09:54 | Report Abuse

special for cimb,tp rm7 in super august

Posted by nasaie24 > 2017-07-25 14:09 | Report Abuse

@labu83 rm8 lah

Posted by godshare > 2017-07-25 22:24 | Report Abuse

How will the impairment of 7-eleven hit the profit of CIMB Niaga?

Posted by shortinvestor77 > 2017-07-25 22:40 | Report Abuse

So concern? Wait and see.

Posted by shortinvestor77 > 2017-07-25 22:41 | Report Abuse

All investment banks have given higher TP. Don't you think they have taken all factors into consideration and calculation?

Posted by Beza > 2017-07-26 08:41 | Report Abuse

Dow Jones closed at 21613.43, up 100.26 (+0.47%) . Bodoh goldentriangle don't report. Lim Pe reports.

Posted by darkstar > 2017-07-26 14:02 | Report Abuse

CIMB closed at 4.30pm. Will open tomorrow at 9am. cc:GT