Posted by TheContrarian > 2017-09-06 16:58 | Report Abuse

Today the overall market is ignoring the North Korea tension.

Posted by 88888888 > 2017-09-06 21:38 | Report Abuse

affin very low volume despite decent qr result......... no one interested

Posted by Teh_Invest > 2017-09-07 11:33 | Report Abuse

I wonder why no one is interested in Affin.

Posted by TheContrarian > 2017-09-07 15:13 | Report Abuse

All the funds go for bigger banks like Maybank, CIMB, RHB & AmBank. Affin needs to improve on dividend payment to attract the funds.

Posted by latlut > 2017-09-07 15:20 | Report Abuse

ya. dividend need to be improved. not buying insas today?

Posted by TheContrarian > 2017-09-07 16:56 | Report Abuse

Not buying anything. Wants to wait for US response to North Korea first.

Posted by TheContrarian > 2017-09-07 17:03 | Report Abuse

Good to see Affin breaching 2.60 to close at 2.61. Must hold above 2.60 tomorrow.

Posted by shortinvestor77 > 2017-09-07 17:11 | Report Abuse

No worry. With Dividend Reinvestment Scheme approved, it will go back to its 50% div policy.

Posted by kktom > 2017-09-07 20:43 | Report Abuse

everybody seems worried about the US n N Korea war will brock out.But to me It will not happen as I see it.It will be lose -lose situation for US.
So I will continue buy n buy.

Posted by stevenkau > 2017-09-08 09:47 | Report Abuse

Based on Fundamental analysis, it indicates the uptrending trendline

Posted by TheContrarian > 2017-09-11 09:32 | Report Abuse

Go, go, go Affin.

Posted by Mittens > 2017-09-11 13:48 | Report Abuse

Undervalue bank share, gogogo!

Posted by shortinvestor77 > 2017-09-11 17:14 | Report Abuse

KUALA LUMPUR: Affin Holdings Bhd
image: https://cdn.thestar.com.my/Themes/img/chart.png

is expecting loans growth in the second half to come in stronger compared to the first half from January to June 2017.

The bank's managing director and chief executive officer Kamarul Ariffin Mohd Jamil said that it had grown loans by some 2.5% in the first half and is anticipating full year growth to be at least 6%.

"We are quite comfortable to achieve a growth of between 6% and 7% as growth in the second half will be stronger," he said at a press conference after a prize giving ceremony for the OMG Returns! here on Monday.

He also said that the bank was still on track and still awaiting regulatory approval to acquire FGV's stake in AXA-Affin General.

"It is about a 7% stake and they are slated to sell their stake to either Affin or AXA," Kamarul said.
Read more at http://www.thestar.com.my/business/business-news/2017/09/11/affin-expects-stronger-loans-growth-in-second-half/#pbUGBbMVykS0QZ4A.99

Posted by kktom > 2017-09-11 20:23 | Report Abuse

today and tomorrow affin is going NORTH

Posted by shortinvestor77 > 2017-09-14 09:25 | Report Abuse

No favourable catalyst in the short-term ahead, current conditions prevailing…maintain NEUTRAL. We reiterate our NEUTRAL call as we see no change in the prevailing conditions ahead. There is no concrete catalyst and game changer on the horizon and structural and cyclical headwinds are still prevailing such as; (i) moderating economy, (ii) subdued loans growth, and (iii) downward pressure on NIM. We maintain our MARKET PERFORM call for most of the banking stocks in our coverage with the exception of AFFIN, AFG, AMBANK and RHBBANK, which are at OUTPERFORM as at current share prices, we see attractive proposition with a potential total return of more than 10% each.

Source: Kenanga Research - 14 Sept 2017

Posted by shortinvestor77 > 2017-09-14 09:30 | Report Abuse

For 2QCY17, all the nine (9) banking stocks under our coverage met our expectations. YoY, earnings improved as impairment allowances fell as expected with improvement in asset quality. We also see widening NIMs due to better management in funding costs and better repricing of assets. However, loans growth seemed to be easing. All in, we maintain our NEUTRAL stance on the sector as the prevailing challenges in the economy still remain. As results were mostly in line, we maintain our MARKET PERFORM call for most of the banking stocks in our coverage with the exception of AFFIN (TP: RM3.00), AMBANK (TP: RM5.00), AFG (TP: RM4.15) and RHBBANK (TP: RM5.60) due to their undemanding valuations.

Posted by TheContrarian > 2017-09-14 11:08 | Report Abuse

Undemanding valuation = low P/BV.

Posted by Buybuybuy > 2017-09-15 14:45 | Report Abuse

Affin price will start to move towards 3 mark after the correction. Time to collect the shares now before it is too late. Target price 3.50

Posted by 4444 > 2017-09-15 17:13 | Report Abuse

15-Sep-2017 Insider EMPLOYEES PROVIDENT FUND BOARD (a substantial shareholder) disposed 24,800 shares on 12-Sep-2017.
15-Sep-2017 Insider EMPLOYEES PROVIDENT FUND BOARD (a substantial shareholder) disposed 185,800 shares on 11-Sep-2017.
15-Sep-2017 Insider EMPLOYEES PROVIDENT FUND BOARD (a substantial shareholder) disposed 222,600 shares on 18-Aug-2017.
https://klse.i3investor.com/quoteservlet.jsp?sa=ss&q=AFFIN

Posted by 4444 > 2017-09-15 17:18 | Report Abuse

EPF still selling. Use bank money to pump and dump stocks? Sooner or later sure Affin suffer loss. EPF you are the best FM.

Posted by TheContrarian > 2017-09-15 22:55 | Report Abuse

EPF selling well absorbed, price goes higher.

Posted by kktom > 2017-09-18 21:37 | Report Abuse

we are always lose to the big timer like EPF as they are IN or OUT no need commissions.Up one cent they still make money.

Posted by TheContrarian > 2017-09-19 16:04 | Report Abuse

Actually EPF only selling because they want to rebalance their shares portfolio by shifting more proportion to Shariah counters.

Posted by latlut > 2017-09-19 16:30 | Report Abuse

thecon sifu ar.. does the MFRS 9 impact finance counter like affin and insas?

Posted by kktom > 2017-09-19 20:09 | Report Abuse

seem no one interested in affin.volume was pityful low,hahahha

Posted by TheContrarian > 2017-09-19 21:04 | Report Abuse

Insas is not a bank, so no impact except for maybe its leasing and money lending business which are small. As for Affin AND ALL OTHER BANKS, a higher general (not specific) loan loss impairment ie. general provision for doubtful debts on loans is required. The new Standards will introduce a new term "Expected Credit Losses" (ECL) where a charge for loan impairment must be made from the first day the loan is disbursed/given out. All existing loans previously given out must also be impaired although the loans never defaulted. However Bank Negara will allow loss impairment made on existing loans against other reserves rather than the P&L. Hope you can understand as I try to explain as simple as possible.

Posted by TheContrarian > 2017-09-19 21:13 | Report Abuse

To me these additional loan loss impairments are general provisions on the good loans. It's a "better safe than sorry" measure to protect banks from unexpected major crisis which previously wiped out several big US and European banks.

Posted by TheContrarian > 2017-09-19 21:16 | Report Abuse

There will be a one time very huge charge on the existing loans which have not been previously impaired under the ECL model.

Posted by TheContrarian > 2017-09-19 21:18 | Report Abuse

Bank Negara has however allowed this one time huge charge not to be taken to P&L but to other reserves in the balance sheet. NTA for ALL BANKS will however be reduced.

Posted by latlut > 2017-09-19 21:30 | Report Abuse

tqvm thecon. you are the best.

Posted by TheContrarian > 2017-09-19 21:32 | Report Abuse

In my opinion the bigger the bank the greater the one time huge charge and the greater the reduction in NTA.

Posted by darrenliew > 2017-09-19 21:52 | Report Abuse

UOB KAYHIAN'S ANALYSIS WAS PROVEN RIGHT WHEN IT PEGGED AFFIN'S FAIR VALUE AT RM2.50 (WHEN IT WAS AT 2.82. IT ACTUALLY TOUCHED 2.49). IT WAS CORRECT IN POINTING OUT ITS VULNERABILITY TO ITS LOAN IMPAIRMENT RISKS.
NOW WITH THE IMPLEMENTATION OF THE MORE STRINGENT MFRS9, ALL BANKS WILL BE BADLY HIT.
FORTUNATE TO BE ABLE TO FOLLOW UOBKAYHIAN'S N BOUGHT SOME AT 2.50/2.51 AND EXITED AT BETWEEN 2.67 TO 2.68.
SPEAKING ONLY FOR MYSELF I THINK ITS GOING TO BE RISKY TO BUY BANK SHARES NOW WITH THE ENFORCEMENT OF MFRS9.

Posted by shortinvestor77 > 2017-09-19 22:19 | Report Abuse

Those worry should not be here. All banks know what to do to increase their profits. What Contarian said may not be true.

Posted by darrenliew > 2017-09-20 07:22 | Report Abuse

CORRECT. ALL BANKS WILL HAVE TO REACT
ACCORDINGLY. AFFIN HAD ALREADY SAID THAT
THEY HAVE TO CUT ITS DIVIDENDS.

Posted by darrenliew > 2017-09-20 08:51 | Report Abuse

HAVE TO BE REALISTIC. MFRS 9 IMPLEMENTATION IS REAL AND ALREADY EFFECTIVE

Posted by aklobi > 2017-09-22 16:52 | Report Abuse

I sense some scare tactics here. I urge investors not to over react.

Posted by aklobi > 2017-09-22 16:55 | Report Abuse

Darrenliew.. you chose 1 target price of 2.50 and ignored 9 target prices above 2.8? Some even 3.3! Maybe YOU need to be real.

Posted by TheContrarian > 2017-09-22 17:48 | Report Abuse

Affin's high NTA over its market price will provide a huge safety margin sheild when MFRS 9 takes effect on 01.01.2018, first QR will be March 2018, to be released in May 2018.

Posted by joetay > 2017-09-22 17:58 | Report Abuse

afg have been quiet for the past yr while affin has been was 50% up at 1 stage.

bank rotation play soon???

Posted by TheContrarian > 2017-09-22 18:01 | Report Abuse

Affin was up greatly at one time because of the issuance of call warrants by CIMB and RHB at almost the same time.

Posted by joetay > 2017-09-22 18:16 | Report Abuse

i think cimb/rhb must have made big losses on their cu/cv warrants. the exercise price is so nice for buyers. those that bot back then must had made alot.

now small/mid banks r starting to look interesting again.

Posted by TheContrarian > 2017-09-22 18:20 | Report Abuse

They sold off Affin shares as expiry date approached.

Posted by joetay > 2017-09-22 18:27 | Report Abuse

that could explain the decline from jun.

seems like cimb/rhb knows how to play a tight game.

Posted by TheContrarian > 2017-09-22 18:48 | Report Abuse

I did ok on the call warants, bought as low as 17 sen at the time Trump won the American Presidential Election and sold at around 72 sen, over 300% gain, my best percentage return this year.

Posted by joetay > 2017-09-22 19:03 | Report Abuse

yup, Trump made some of us very happy, including me that day.

net my klci dec16 shorts and long some cheap jan/mar17.

still learning warrant theory, no field experience yet.

Posted by TheContrarian > 2017-09-22 19:33 | Report Abuse

Usually I avoid call warrants because the tenor is very short. Affin's was an exception because I felt the mother share was so undervalued and back in November market was temporarily bearish because ringgit was under pressure approaching 4.50 to US Dollar.

Posted by joetay > 2017-09-22 19:44 | Report Abuse

i went in the mkt ard the same time as well.

wanted to take call warrants, but as not familiar, stay safe and take position in shares/futures.

have been looking at call warrants for a some time, but always feel that liquidity is a big issue at times.

dont want to get trapped.

Posted by TheContrarian > 2017-09-22 21:43 | Report Abuse

Yes, for some call warrants, liquidity is an issue.

Posted by TheContrarian > 2017-09-22 21:49 | Report Abuse

If overall stock market appears toppish then call warrants will be risky as the tenors are too short for the mother shares to surge.

Posted by joetay > 2017-09-22 22:54 | Report Abuse

thx for the advice @TheContrarian.

will take ur words to mind when i do calculations.