KUALA LUMPUR: OSK Research is maintaining its Buy call on MALAYSIA BUILDING SOCIETY BHD [] (MBSB) with a fair value of RM2.35.

It said on Thursday, Aug 4 this was based on a 2.6 times FY11 price-to-book value (22.8% returns on equity, 11% cost of equity and 4% growth rate).

It said MBSB held an analyst briefing on Wednesday following the release of its 1HFY11 results.

'Management is confident that it would be able to maintain its earnings momentum going forward. Besides focusing on personal financing, the company will also try to capture the corporate segment by launching more new products.

'In order to expand its branch network, there are plans for three new branches and five new representative offices,' it said.