Posted by stkoay > 2020-11-28 15:03 | Report Abuse

High provisions have already being made known to analysts during earlier briefing on OCTOBER.

Posted by kens88 > 2020-11-28 15:04 | Report Abuse

So bad debt and provisioning alrd cleared and settled? No more spillover into next qr?

Posted by stkoay > 2020-11-28 15:24 | Report Abuse

..... but expect loan provisions to stay elevated. While the asset quality and R&R trends were a positive, loan provisions, however, is expected to stay elevated in 3QFY20. Firstly, further overlays across the regions will need to be booked in, together with overlays relating to the targeted assistance programme. Secondly, CIMB will be making top-up provisions relating to several legacy accounts in ID and SG.

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Report by Kenanga IB on OCTOBER.

https://klse.i3investor.com/blogs/kenangaresearch/2020-10-28-story-h1535506715-CIMB_Group_Holdings_Potential_Upside_Risk_to_Credit_Cost.jsp

Posted by stkoay > 2020-11-28 15:34 | Report Abuse

Provisions will remain elevated. The management guided that provisions will remain elevated in 3QFY20. This will be due to forward looking adjustments as we had observed in the previous quarter. The management will include a management overlay to credit cost. Also, there will be “top up” provisions for legacy accounts in Indonesia and Singapore following from the surge in Covid-19 new cases globally.


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This one by MIDF on OCTOBER

https://klse.i3investor.com/blogs/midfresearch/2020-10-28-story-h1535507646-CIMB_Group_Holdings_Berhad_More_Concerns_Than_Optimism.jsp

Posted by stkoay > 2020-11-28 18:05 | Report Abuse

https://www.freemalaysiatoday.com/category/nation/2020/11/28/epf-doesnt-need-to-borrow-extra-funds-for-withdrawals-says-najib/


To meet the cash flow needs of the estimated RM70 billion in EPF withdrawals, Najib said the retirement fund only needed to liquidate its government bonds into the secondary market where there are ready buyers.

“Alternatively, I have also suggested that EPF sell bonds to Bank Negara Malaysia (BNM) in order to minimise the impact on our secondary bond markets and prevent any sudden spike in yields.”

Posted by Riaz1954 > 2020-11-28 18:22 | Report Abuse

So what is the conclusion, will the price rear rear from here back to to 3 or rally after small,correction? We have also to consider CIMB investor base. My view is that price after half year announcements was the low point...I can see the price being higher than current price over the next 6 months.

Posted by kens88 > 2020-11-28 18:31 | Report Abuse

since will be worse than this quarter, no reason to rally right? Unless people like to goreng cimb

Posted by stkoay > 2020-11-28 18:43 | Report Abuse

Big lump sum provisions for the 2 O&G accounts in Singapore had been provided for in Q2 and Q3.

With revenue returning to almost normal, Q4 should be a big improvement.

Market is forward looking, I guess the worst for the share price was over when it fell below RM3 in October/early Novenber.

Posted by JBond007 > 2020-11-28 19:15 | Report Abuse

All recovery stocks are moving with 'W' shaped double bottoms pattern.
Below are the worst five
Airport (3.92 @ 19/Mar, 4.05 @ 16/Oct), now 5.54
AirAsia (0.50 @ 19/Mar, 0.51 @ 2/Nov), now 0.725
Genting (2.91 @ 19/Mar, 2.95 @ 3/Nov), now 4.17
GenM (1.83 @ 23/Mar, 1.98 @ 2/Nov), now 2.53
CIMB (3.09 @ 19/Mar, 2.90 @ 2/Nov), now 3.83
So you decide yourself whether you want to continue the recovery journey with sotong.

Posted by Alfonso > 2020-11-28 22:37 | Report Abuse

sotong is still worth to stay will, lets look for RM 8 in 3 years time.

Posted by Taeyeon09 > 2020-11-28 23:08 | Report Abuse

Wait to collect back at 3.00

Posted by zerocool7199 > 2020-11-28 23:09 | Report Abuse

History will repeat itself after every market crash..just hold it tight,go through some updown wave and the beautiful sunlight just near behind us!!cimb currently is still at super undervalue price.not everyone in their lifetime can always see such opportunities.so...let or grab?yours decide.

Posted by mita29 > 2020-11-28 23:17 | Report Abuse

Yeah now the fear and greed index reaches extreme greed in US side (ATH S&P, DOW), record participation of retail investors in Bursa, it's to time go big when everybody is extremely greedy right? haha, bruh....

https://money.cnn.com/data/fear-and-greed/

Posted by BlessedInvestor > 2020-11-28 23:52 | Report Abuse

Any pullback is an opportunity to add more. They have done provisioning and recovering is in play.

Posted by Goldgent > 2020-11-29 00:04 | Report Abuse

Sotong NTA 5.54

Posted by david123 > 2020-11-29 07:28 | Report Abuse

Taeyong09. Don't ever think that it will come back @ 3.00. Maybe @ 4.00

Posted by kimmchii > 2020-11-29 09:36 | Report Abuse

mita29, good post. yes all in liao all die together.

Posted by Loy Loy Cheong > 2020-11-29 10:08 | Report Abuse

Have cleared all my CIMB position in the meantime, I agree that pull back will be a good opportunity to re-enter. Waiting for it to go back at RM3.50+ level will be great but think might be difficult

Posted by latuk > 2020-11-29 11:20 | Report Abuse

Not in time to sell my CIMB which were bought at 3.89. Waiting to lose like hell!

Posted by alan26334 > 2020-11-29 12:01 | Report Abuse

CIMB share price will up in coming quarters in view economy is slowly recovered from worst due to badly hit by covid19 and big provision being made on last few quarters. Hold tight and enjoy the bumpy recovery ride....Buy when people still suspicious on prospect of the stock, price will sky high if people already have confident on the stock....

Posted by latuk > 2020-11-29 12:07 | Report Abuse

Here I see people talk like cimb just lose 500million.

Posted by serendipity89 > 2020-11-29 13:38 | Report Abuse

bad quarter still okay. can understand la economy is bad. but seems like epf also disposing cimb. without big fund stablising the price, lets hope it wont go down to much....

Posted by latuk > 2020-11-29 13:48 | Report Abuse

I will just sell and cut loss . So many people view cimb negatively.

Posted by stkoay > 2020-11-29 14:58 | Report Abuse

@serendipity89.....EPF are just taking profit (they have been buying when prices were low).

They are also selling Public Bank and lately on 19/11 and 20/11, they have also sold Maybank.

KWAP has also been selling Maybank....

This kind of profit taking is normal.....their dividend are based on REALIZED GAIN.

Posted by BATFLY > 2020-11-29 20:46 | Report Abuse

Qtr profit is deteriorating from rm1.9 billion to rm194 million..guess next qtr will be negative due bad debts..

Posted by Up_again > 2020-11-29 21:01 | Report Abuse

So I guess those still waiting to buy at RM 2 are still waiting..... lmao

Posted by JayC88 > 2020-11-29 21:54 | Report Abuse

the comments here got effect on share price? lol

Posted by bigby7 > 2020-11-29 23:01 | Report Abuse

The comments here are full of kids.. What do you expect.. Haha
I also can type bloodbath.. I also can type skyrocket..

Posted by latuk > 2020-11-30 06:54 | Report Abuse

I see a lot of people here really far-sighted. They bought when it was at the bottom and managed to sell almost at the recent peak. And now waiting to collect at RM 3. 00.

Posted by WarrenPuffet > 2020-11-30 09:15 | Report Abuse

OMG CIMB kena pushed down from tall building!!!
CIMB dun GIBBAB!!! Eat KIMBAB calm down!!! GAMBARREH!!!

Posted by zhen wei & JP > 2020-11-30 09:17 | Report Abuse

Dividend 14sen to be issued.

Posted by Loy Loy Cheong > 2020-11-30 10:27 | Report Abuse

Selling down in high volume, becareful.

Posted by Letsfly > 2020-11-30 10:32 | Report Abuse

epf dispose for the account 1 withdrawal....

Posted by Snowpiercer > 2020-11-30 10:33 | Report Abuse

pretty strong support given the qr

Posted by zerocool7199 > 2020-11-30 11:06 | Report Abuse

The worst is over for cimb

Posted by AXE666 > 2020-11-30 11:09 | Report Abuse

CIMB rebound and close green today

Posted by mita29 > 2020-11-30 11:37 | Report Abuse

The rise of zombie companies. Trade/invest cautiously https://www.bloomberg.com/news/articles/2020-11-17/america-s-zombie-companies-have-racked-up-1-4-trillion-of-debt

Posted by Jeffreyteck > 2020-11-30 12:11 | Report Abuse

Q4 is est to be poorer yoy. Trading range 3.20_4.00.

Posted by Goldgent > 2020-11-30 12:26 | Report Abuse

The worst was over. Trading range 3.60 ~ 4.50.

Posted by stkoay > 2020-11-30 12:32 | Report Abuse

First session :

CIMB down 2.61%

Public Bank down 2.80%

Amazing Sotong..........

Posted by stkoay > 2020-11-30 12:34 | Report Abuse

The worst is over.....

....now hoping for window dressing at end December.....

Posted by JBond007 > 2020-11-30 12:34 | Report Abuse

Next 6 months trading range:
Dec 3.70 ~ 4.00, Jan 3.90 ~ 4.20, Feb 4.10 ~ 4.40,
Mar 4.30 ~ 4.60, Apr 4.50 ~ 4.80, May 4.70 ~ 5.00

Posted by stkoay > 2020-11-30 12:38 | Report Abuse

KLCI YTD is UP

CIMB YTD is down 28%

Good chance of window dressing by funds at year end.

Posted by stkoay > 2020-11-30 12:41 | Report Abuse

@JBond007....which is your bigger portfolio ....CIMB or Genting....

.....My CIMB is heavier than Genting.

Posted by JBond007 > 2020-11-30 12:49 | Report Abuse

@stkoay...my CIMB is also heavier than Genting & GenM.
Plan to increase Genting & GenM, now awaiting the dip, but seems very slim hope.

Posted by stkoay > 2020-11-30 13:22 | Report Abuse

@JBond007....yes me too....waiting to increase Genting to have a more balance exposure.

My CIMB is now +7.55%

My Genting doing better at +21.65%

Wait next year.....HUAT!

Cheers.

Posted by aliyusof > 2020-11-30 15:01 | Report Abuse

Cimb is considered its price holds quite well despite sharp price drop. Then worst is probably over and price is low enough to hold and wait for its gradual recovery.

Posted by Gunplakk > 2020-11-30 15:08 | Report Abuse

gibbab CIMB gibbab.... EPF already GIBBAB...

Posted by WarrenPuffet > 2020-11-30 15:26 | Report Abuse

Dun GIBBAB CIMB!!! Calm down eat KIMBAB!!!!
GAMBARREH CIMB!!!

Posted by Gunplakk > 2020-11-30 15:47 | Report Abuse

gone case la... tomorrow drop some more i think