epf continue buying i think something is brewing on this counter. Tun Daim have made recommendation to Tun M on the future of LTAT. Probably LTAT will privatise Affin since the current price is way below its NTA of 4.30
Tun Daim has always pushed for banking consolidation - that is clearly the way forward; we have too many banks. We just need around 6 big, regionally competitive banks, well capitalised, each with their own niche, not the motley crew right now.
Not many incremental benefits for Maybank to take in a RM4.5bn bank, they will also want to lay off staff and close branches (so, not good for the regulators); whereas, the 2nd Tier Banks might see something in Affin.
The BEA stake in Affin is surely going to be a stumbling block to any corporate exercises, like the Aabar stake in RHB.
@TheContrarian - BIMB looks promising to me, after they solve their overhanging political issues. Definitely a bank with a bright future. Not sure if I can really say the same about Affin; Affin is really a Net Asset play to me, but I can't see any catalyst that will 'unlock' the value in the immediate. Barring being acquired at a stupid valuation lah.
LTAT is now short of cash. Very difficult to pay more than 10% dividend to its members. They are buying many assets during Lodin's time and cause their cash reduced a lot. Now is the time they will monetize their asset such as affin to sustain they dividend.
Affin has limited downside. I first aquired Affin at 2.09 and I don't think I will ever get that price again. There's great potential upside if and when a merger takes place
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....
apolloang
18,163 posts
Posted by apolloang > 2018-07-06 16:21 | Report Abuse
sure lah miss soo there,after she's gone then fall lo.....hahaha