Ceased negotiation with BMMB. I think there is still value to be find in affin since it is the cheapest banking stock at the moment, even bimb surpass affin in terms of share price.
If u notice smaller banks and Ibs tend to give much higher price target than those with bigger banks, what does it means and why? Answer is very simple, they have the intention to eat it into their stomach. Just a bit of patient to hold and u will be rewarded.
Looks like there is a dinasour in the park. 4 instititions aready made up more than 86% of their share. Trading almost 50% discount to the 2nd cheapest bank using pe ratio and 0.8 times b/v vs 1.7 industry average. Are these owner trying to press down the price and make it out of par with other banks and let their brand name looks teribly. Let's wait and see.
pradeep, I'm sorry that I can't give target price here. If Affin in play, the syndicates might change their plan if they saw it here. What I can say is it is deeply undervalue even at RM$4.00.
I read the report on why Affin and AMMB going after Hwang DBS, and to my understanding why Affin wants to pay high price, to my opinion the price Affin wants to pay is it Justified!
The big banks would not want the affin bank price goes up because they want to makan them next time. Thus those big bank rating is not accurate at all. Such as allianze , AFG, RHB. They all broke theirs target price at least 2 dollar or above before the the big bank change theirs target price.
Affin got the highest bid in taking over the HDBS so I would expect the HDBS to accept the offer. The Good news will be flowing out very soon because I got this news from my friend who work in Affin bank. Target price 6.50
Affin will submit the final bid to the HDBS and expect to win the bid over ammb so time to collect this share before the price goes up. target price 6.50
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....
Archer
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Posted by Archer > 2013-03-28 23:46 | Report Abuse
Ceased negotiation with BMMB. I think there is still value to be find in affin since it is the cheapest banking stock at the moment, even bimb surpass affin in terms of share price.