Posted by Victor Yong > 2019-10-10 09:41 | Report Abuse

Loan growth in August was flat at +3.9% YoY; MoM saw a 60bps uptick to +0.6%. While Households were marginally flattish, Business saw another 20bps uptick to +3% YoY. We maintain our view of a pick-up in loans post-budget 2020; at current MoM pace, we anticipate loans growth for 2019 at +5.5% YoY, slightly higher than our previous estimation of ~5%. Our call on the sector remains OVERWEIGHT as valuations are attractive. In fact, most banks under our coverage are rated OUTPERFORM: - AFFIN (TP: RM2.45), ABMB (TP: RM3.45), AMBANK (TP: RM4.75), BIMB (TP: RM4.80), CIMB (TP: RM6.45), MAYBANK (TP: RM9.70), MBSB (TP: RM1.10), PBBANK (TP: RM24.10) and RHBBANK (TP: RM6.05). Only HLBANK (TP: RM17.30) is a MARKET PERFORM.

Posted by Victor Yong > 2019-10-10 09:42 | Report Abuse

:)

MBSB: 2Q profit up 24% on lower expected credit losses. Malaysia Building Society registered a 24% YoY increase in the 2Q profit of its FY19, as the group recorded lower than expected credit losses during the quarter under review. Hence, net profit climbed to RM106.23m from RM85.69m a year ago. Revenue grew 3% to RM817.66m from RM794.14m. (The Edge)

Posted by Victor Yong > 2019-10-10 09:43 | Report Abuse

Market Cap: 5,539 Million
NOSH: 6,713 Million
Avg Volume (4 weeks): 1,159,136
4 Weeks Range: 0.82 - 0.875
4 Weeks Price Volatility (%):
9.09%
52 Weeks Range: 0.82 - 1.08
52 Weeks Price Volatility (%):
1.92%
Average Price Target: 1.13
Price Target Upside/Downside: +0.305

Posted by Victor Yong > 2019-10-10 09:43 | Report Abuse

Price Target
Date Open Price Target Price Upside/Downside Price Call Source
03/09/2019 0.85 0.93 +0.08 (9.41%) HOLD MIDF
03/09/2019 0.85 1.10 +0.25 (29.41%) BUY KENANGA
03/09/2019 0.85 1.02 +0.17 (20.00%) BUY AmInvest

Posted by Victor Yong > 2019-10-10 09:46 | Report Abuse

How much will the valuation rise after becoming an islamic bank? :) same valuation applied like BIMB?


MBSB to become Islamic banking counter within 2 years

Wednesday, June 12th, 2019 at , Money

Lender now has to convert the remaining 10% to 12% of its conventional assets into Islamic assets

by SHAHEERA AZNAM SHAH / pic by RAZAK GHAZALI

Malaysia Building Society Bhd (MBSB) expects its full-fledged Islamic banking business under MBSB Bank Bhd to become a holding company and assume listing status on the stock exchange within two years.

President and group CEO Datuk Seri Ahmad Zaini Othman said the lender now has to convert the remaining 10% to 12% of its conventional assets into Islamic assets within the timeline given by Bank Negara Malaysia (BNM).

“We have converted more than 85% of our assets into Islamic assets. The remaining, worth about RM1 billion, could not be converted immediately because of issues such as impairment which will bring down the financial performance.

“Once we have moved everything to the bank, there will be a restructuring exercise to make the subsidiary a holding company and thus making the bank a listed entity,” he told reporters at MBSB’s AGM in Kuala Lumpur yesterday.

MBSB’s road to becoming a full-fledged Islamic financial institution follows its RM644.95 million acquisition of Asian Finance Bank Bhd in February last year.

It has been given three years by the central bank to conclude the conversion or disposal of its conventional portfolios.

“It will open up a lot of opportunities once we are a Shariah-compliant stock as it will be easier to attract investments,” he said.

For its financial year ending Dec 31, 2019 (FY19), Ahmad Zaini said the lender targets a loan growth of 5%, supported by its retail property portfolios.

“For our loan books, we have about RM7 billion approved and ready to be disbursed.

Our corporate customers are mostly property-based, so the disbursement will come in tranches and not in a single payment…unlike retail facilities, which can be done in three days once approved.

“Last year, the loan growth was about 3%, but with the revenue stream from our new businesses such as trade financing, treasury and wealth management services and products, we will be able to get higher loan applications,” he said.

Ahmad Zaini added that the bank’s non-performing loan ratio is expected to hover between 1.2% and 1.3% for FY19, while aiming for a net return on equity of 10%.

The recent reduction in the Overnight Policy Rate by BNM will benefit the lender’s customers as 63% of its portfolio are fixed rate-based.

“The benefit will only come next year because new facilities will have to be based on the market rate,” he said.

MBSB’s share price closed one sen or 1.06% higher at 96 sen, giving the Employees Provident Fund Board-controlled group a market capitalisation of RM6.1 billion.

Posted by Victor Yong > 2019-10-10 09:47 | Report Abuse

EPF controls RHB and MBSB, possible to merge the two?

Posted by Victor Yong > 2019-10-10 10:01 | Report Abuse

EPF could make mbsb as a wholly owned subsidiary of rhb and rhb Islamic bank is injected into mbsb, non-islamic assets transferred to rhb, Islamic assets from rhb to mbsb, mbsb becomes Islamic bank immediately, right? :)

Posted by Victor Yong > 2019-10-10 10:14 | Report Abuse

Bottom price now :)


Board: MAIN
Sector: Finance
Avg Volume (4 weeks): 1,159,136
4 Weeks Range: 0.82 - 0.875
52 Weeks Range: 0.82 - 1.08
Average Price Target: 1.13
Price Target Upside/Downside: +0.305


Date Close
09/10/2019 0.82
08/10/2019 0.825
07/10/2019 0.825
04/10/2019 0.825
03/10/2019 0.82
02/10/2019 0.825
01/10/2019 0.825
30/09/2019 0.835
27/09/2019 0.845
26/09/2019 0.855
25/09/2019 0.845
24/09/2019 0.85
23/09/2019 0.845
20/09/2019 0.85
19/09/2019 0.85
18/09/2019 0.85
17/09/2019 0.855
13/09/2019 0.855
12/09/2019 0.85

Posted by Victor Yong > 2019-10-10 11:09 | Report Abuse

Becoming Islamic bank, share price higher than NTA macam bimb, bukan? :)

BIMB Financial Information
Market Capital (RM) 6.987b
Number of Share 1.764b
EPS (cent)* 42.95
P/E Ratio 9.22
ROE (%) 13.26
Dividend (cent)^ 15.500
Dividend Yield (%) 3.91
Dividend Policy (%) 50
NTA (RM) 3.240

Posted by Victor Yong > 2019-10-10 15:28 | Report Abuse

uptrend now rising rapidly

Recent Prices
Date Open Range Close Change Volume
09/10/2019 0.83 0.82 - 0.835 0.82 -0.005 (0.61%) 1,979,000
08/10/2019 0.825 0.82 - 0.835 0.825 0.00 (0.00%) 1,202,200
07/10/2019 0.825 0.82 - 0.84 0.825 0.00 (0.00%) 746,100
04/10/2019 0.82 0.82 - 0.83 0.825 +0.005 (0.61%) 1,143,600
03/10/2019 0.825 0.82 - 0.83 0.82 -0.005 (0.61%) 1,173,400
02/10/2019 0.83 0.82 - 0.84 0.825 0.00 (0.00%) 1,384,500
01/10/2019 0.835 0.825 - 0.84 0.825 -0.01 (1.20%) 1,264,900
30/09/2019 0.845 0.825 - 0.845 0.835 -0.01 (1.18%) 2,808,500
27/09/2019 0.855 0.845 - 0.855 0.845 -0.01 (1.17%) 990,500
26/09/2019 0.85 0.845 - 0.855 0.855 +0.01 (1.18%) 961,700
25/09/2019 0.845 0.845 - 0.855 0.845 -0.005 (0.59%) 910,000
24/09/2019 0.845 0.845 - 0.855 0.85 +0.005 (0.59%) 677,500
23/09/2019 0.85 0.845 - 0.855 0.845 -0.005 (0.59%) 586,600
20/09/2019 0.85 0.845 - 0.855 0.85 0.00 (0.00%) 2,007,500
19/09/2019 0.85 0.85 - 0.86 0.85 0.00 (0.00%) 400,100
18/09/2019 0.86 0.85 - 0.865 0.85 -0.005 (0.58%) 725,500
17/09/2019 0.86 0.855 - 0.875 0.855 0.00 (0.00%) 1,722,000
13/09/2019 0.855 0.85 - 0.86 0.855 +0.005 (0.59%) 777,800
12/09/2019 0.85 0.845 - 0.86 0.85 0.00 (0.00%) 562,200

Posted by Anon > 2019-10-10 22:01 | Report Abuse

Pe x10 fair value should be 70sen. More room to go down.

Posted by sapurakencana > 2019-10-12 01:35 | Report Abuse

Agree,if nov bank negara cut interest rate,all the bank will lau sai again.

Posted by sapurakencana > 2019-10-12 01:38 | Report Abuse

that why all the bank counter drop like world will be end tomorrow.Even their profit still maintain.

Posted by Yam13 > 2019-10-12 09:37 | Report Abuse

with digital bank coming MBSB can be a good benificary of expanding their services via online and in real time.

Posted by Yam13 > 2019-10-12 09:38 | Report Abuse

Banks loans will rise to overcome housing glut soon. This will increase MBSB revenue across the board

Posted by Pradeep Kumar > 2019-10-13 01:25 | Report Abuse

MBSB is undervalue. The stock is better then you place it in the fixed depisit

Posted by $$$< GOODLUCK >$$$ > 2019-10-13 02:23 | Report Abuse

move up soon

Posted by Yam13 > 2019-10-13 10:31 | Report Abuse

MBSB will get the rewards when companies need more money to start investing in digital, AI and O&G. Big stakes in high profile investment will come soon

Posted by Fei Teng > 2019-10-14 22:04 | Report Abuse

Uptrend pattern?

Posted by ahbah > 2019-10-14 22:09 | Report Abuse

I agree with U.

MBSB already bottomed out and now is going up.

Posted by sasword > 2019-10-15 10:40 | Report Abuse

Going to hit 50 cents soon.

Posted by ahbah > 2019-10-15 19:29 | Report Abuse

If U wait for 50 sen, U will miss the boat$$$ lah.

And the boat$$$ will never come back again.

Posted by sasword > 2019-10-16 16:15 | Report Abuse

Boat to Holland is coming, anyone ready to buy tickets ?

Posted by Bulat > 2019-10-17 22:52 | Report Abuse

Just a mmonkey movie

Posted by Bulat > 2019-10-17 22:57 | Report Abuse

After you buy , they are push down again

Posted by Bulat > 2019-10-17 22:58 | Report Abuse

Useless

Posted by Johnfatt > 2019-10-18 17:08 | Report Abuse

hilarious, good job!

Posted by firehawk > 2019-10-18 17:10 | Report Abuse

what happen? launching rocket at the end ....

Posted by Johnfatt > 2019-10-18 17:11 | Report Abuse

those SKL does not know value investing asked for 50 cents. no money dont stand in front my stall plz, ka ka cau cau.

Posted by Johnfatt > 2019-10-18 17:32 | Report Abuse

give me 5

Posted by Pradeep Kumar > 2019-10-19 00:19 | Report Abuse

Something cooking

Posted by Bulat > 2019-10-19 00:24 | Report Abuse

Well done

Posted by calvintaneng > 2019-10-19 00:25 | Report Abuse

SUPERB!!

Clap!
Clap!!
Clap!!!

Posted by calvintaneng > 2019-10-19 00:28 |

Post removed.Why?

Posted by Godofgambler > 2019-10-19 01:07 | Report Abuse

Mbsb will reach Rm2.00 in near future

Posted by KassimBaba7 > 2019-10-19 08:58 | Report Abuse

Siapa last minute buyer? angmoh? Thinking if wanna drop some and get back on correction

Posted by hksoon > 2019-10-19 16:13 | Report Abuse

i am thinking is share buy back from big-BIG Share holder and institute ? ! Can goreng-goreng ma ?

Posted by FamousAmos > 2019-10-19 16:50 | Report Abuse

Here comes Tan End claiming credits again

Posted by ahbah > 2019-10-19 17:03 | Report Abuse

Why suddenly shoot up with giant volume to the sky during last Friday closing ?

Why ? Please give your opinion. Thanks.

Posted by Godofgambler > 2019-10-19 19:11 | Report Abuse

ATM and Cash deposit machines going to be installed in every branches... New face lifts..

Posted by ahbah > 2019-10-19 21:15 | Report Abuse

sasword, I oredi told u so, the boat$$$ is coming meh.

So now, faster faster jump into the boat$$$ now n grab easy money.

Posted by Godofgambler > 2019-10-19 23:10 | Report Abuse

Got dividend every year... So why worries?

Posted by chkhooju > 2019-10-20 09:39 | Report Abuse

Seeing light at the end of the tunnel.

Posted by ahbah > 2019-10-20 11:14 | Report Abuse

We got worries about missing the boat$$$ lah.

So what to do now ?

Posted by Anon > 2019-10-20 21:42 | Report Abuse

Normally MBSB will shot at end of year. Last year, shot from 95sen to 1.10sen. Let's see this round how the price react.

Posted by Jeffreyteck > 2019-10-21 10:50 | Report Abuse

Est challenging Sep results you, may push up before announcement as like Hai O, then drop after announcement. TP 80-95.

Posted by June Goh > 2019-10-21 12:33 | Report Abuse

this counter better run , no dividend no future

Posted by Godofgambler > 2019-10-21 22:13 | Report Abuse

Who said got no dividen? I got twice

Posted by pradeep > 2019-10-22 12:18 | Report Abuse

Todays volume well absorbed

Posted by Bulat > 2019-10-22 17:33 | Report Abuse

I think today can up to $1