MBSB Entitlements: Dividends, Bonus Issues, Consolidations, Splits

Trading at PE 10.13. Assume sector PE 11.3, the share price will be 6.42 * 11.2 = 0.72. Known issues like MIDF are factored.

2 weeks ago

PE should be based on forecasted earnings of 11 sens (pre pandemic) should be fair.
Bursino

Trading at PE 10.13. Assume sector PE 11.3, the share price will be 6.42 * 11.2 = 0.72. Known issues like MIDF are factored.
2022 annual report of MBSB
WE ARE INVESTING IN PEOPLE AND TECHNOLOGY
TO SECURE OUR LONG-TERM FUTURE
We continued to make significant investments in technology,
products and people as part of our strategy to achieve sustained
long-term growth. We dedicated 47% of our capital expenditure
to technology improvements and upgrades. With digital being
a critical business enabler, our investment in technology has
resulted in a 90% increase in online transactions across MBSB’s
various digital platforms and a 438% increase in mobile banking
application users.
We spent over RM10 million on cybersecurity-related systems.
Additionally, the Bank has transformed 13 branches that used
to mainly focus on operations to become more sales-centric and
customer-focused, leading to a 162% growth in the opening of
new Current and Savings Accounts-i (CASA-i) compared to 2021.
Furthermore, to ensure that we have the necessary capacity and
capability to deliver on our goals, MBSB brought on board 489
new hires, led by front-liners to help drive key roles. The arrival
of new talent has enlarged our family to 2,361 people, yet we
maintain a relatively low turnover rate of 10.4%, which reflects a
generally positive workplace environment and culture.

MBSB delivered a positive total Shareholder return of 20.6% in 2022. This outperforms
the Bursa Malaysia Finance Index, which gained 6.0% last year

2 weeks ago

chokra

Alenac, all the data's provided by you amounts to nothing if the share price of MBSB remains depress. Anyone who holds this counter for more than 6 years are still underwater in their investment especially EPF. And why is it everytime MBSB goes on acquisition, it takes more than 18 months to finalise the deal. The deal with AFB a few years back was supposed to enhanced MBSB because it came with an Islamic Banking licence but instead MBSB share price continued dropping further. This MIDF deal is probably the last chance for this MBSB senior management board to prove they deserve to continue in senior management. Alenac, you sound like an insider of MBSB talking, I hope you can convey the disappointment of many shareholders to the BOD of MBSB. TQ.

2 weeks ago

BobAxelrod

He just copy and paste from Public announcements and Press releases....LOL

2 weeks ago

sasword

All insider's know this EPF con counter going to doom anytime

2 weeks ago

alenac

Sorry for your disappointment, those that bought recently had made some money and hoping the price will recover post-pandemic to its high. I think this counter may not be suitable for you to invest.
Maybe you should sell & go for PBB or Alliance Bank. Generally, PLC type of Bank or Finance counter will not maximise profit like other private banks. Hopefully, MBS bank can switch listing with MBSB later after MIDF buy so that its value can be enhanced by the market further. For instance, there are many interventions by the government and policymakers for social objectives, such as the recent ones on the offer to EPF member loans and others such as fixed-interest loans which may not be good to maximise stock price in times of rising interest rates.
I hope EPF being the largest shareholder, once the banking business matured will sell off the listed entity to the highest bidders so that it can operate without government intervention.
Alenac, all the data's provided by you amounts to nothing if the share price of MBSB remains depress. Anyone who holds this counter for more than 6 years are still underwater in their investment especially EPF. And why is it everytime MBSB goes on acquisition, it takes more than 18 months to finalise the deal. The deal with AFB a few years back was supposed to enhanced MBSB because it came with an Islamic Banking licence but instead MBSB share price continued dropping further. This MIDF deal is probably the last chance for this MBSB senior management board to prove they deserve to continue in senior management. Alenac, you sound like an insider of MBSB talking, I hope you can convey the disappointment of many shareholders to the BOD of MBSB. TQ.

2 hours ago

2 weeks ago

Results out! As expected it is very good
Seems like all banks giving out good results

2 weeks ago

rohank71

time to fly higher.

2 weeks ago

Settlement of bad loans & recovery and MIDF buy and its impact on the Balance sheet would determine the forward earnings in 2023.
ChatGPT comments on MBSB results

Based on the earnings report, Malaysia Building Society Bhd (MBSB) has shown positive financial performance in the first quarter of FY23. The increase in net profit of 27.3% can be attributed to lower expected credit losses and operating expenditure. The company also experienced a slight rise in quarterly revenue.

MBSB's total assets have grown, driven by net financing growth and financial investments. Additionally, total deposits have increased, indicating improved liquidity. The company's CEO mentioned that steady growth in gross loans, financing, and customer deposits was achieved through campaigns and promotions.

The return on equity (ROE) and return on assets (ROA) figures can provide insights into the company's profitability and efficiency. However, it's important to compare these metrics with industry benchmarks and consider the company's historical performance to assess its relative strength.

MBSB maintains a healthy capital and liquidity position, which is positive for the company's financial stability. The gross impaired financing ratio increased slightly, but the company expects improvement in the ratio in the coming quarters through resolution and settlement of impaired accounts.

Moving forward, MBSB aims to strengthen its core retail segment and expand its financing growth by targeting premium corporates. They plan to enhance their cost of funds by increasing current account and savings account (CASA) deposits and focus on relationship-based partnerships.
To evaluate the future prospects of MBSB, it's important to consider various factors such as the overall economic conditions, the company's competitive position within the industry, regulatory environment, and any potential risks that may impact its operations. Conducting further research, analyzing financial reports, and consulting with a financial advisor can provide more detailed and accurate insights into the future prospects of the company.

2 weeks ago

rohank71

institution selling BIMB for MBSB. better asset quality for MBSB. keep buying.

1 week ago

Tiba tiba u see.MBSB takeover BIMB. Wakakkaka

1 week ago

Raul

Berangan. Keep on dreaming

1 week ago

Still the same story, incompetent management.

1 week ago

KLCI has been dropping since mid April in tandem with the ringgit, it has dropped beyond Mar 2023 low of 1391, currently at this support level, any major drop beyond this point will be very ugly, somehow, either gov or monitory authority should be stepping out to stable the market, but too bad all still sleeping and see the nation suffer.

1 week ago

painful to see the market being dumped like that

1 week ago

Yippy68

good time to pick up good and potential counters. it is just a cycle, low tide now , high tide later.

1 week ago

@Yippy68 my bplant comrade, yes MBSB is a gem!

1 week ago

Why are funds not updating their forecast or just waiting for the MIDF deal to be approved before rerating? Last year Kenanga called a sell and anyone that followed would have missed the 8.5 sen divi.

1 day ago

Kenanga tell u to sell to them cheap mah

1 day ago

MBSB issued new shares priced at 0.9652 per share to PNB for the entire purchase of MIDF.

23 hours ago

Ya ke? 🤠 Mean mbsb will hit 96¢ one day. Dah guarantee

23 hours ago

I don't know. For sure some fellas will have to work vigorously for the cash.

23 hours ago

hhhiii123

how will PNB accept the offer given the current share price is only 0.63 lol, got instituional investor will sapu all mbsb share to hit .90 above?

22 hours ago

Key point of the notification is there will be a final dividend declare by the end of this acquisition in the coming weeks, therefore it is now clear why they have declared the last dividend as interim dividend and not the final. Congrats to those holding this counter, Monday it will rise a few notches I guess...

21 hours ago

StartOfTheBull

This also means PNB sells MIDF to MBSB for discount of 33.52c (96.52c - 63c) in exchange for 63c per MBSB shares.
The question is would share price of MBSB be pushed up to 96.52c to reflect fair value of the sale of MIDF to MBSB?

21 hours ago

Possible, because after the acquisition the PE, PB, revenue all will changed and very possible to have a re-rating. Fair value will surely go up....besides can collect final dividend....very good news for MBSB in the coming weeks.

21 hours ago

DIVIDEND As at the date of the SPA: (a) MBSB had distributed the MBSB Pre-Completion Dividend in full on 17 April 2023 to its shareholders; and (b) MIDF had distributed the MIDF Pre-Completion Dividend in full on 31 March 2023 to its sole shareholder, the Vendor. Further, subject always to receipt of the approval from BNM, MBSB shall use its reasonable endeavours to declare a post-completion dividend whether as interim and/or final dividends within 12 months after PNB is registered as a shareholder of the Final Consideration Shares in the register of depositors of MBSB. To the extent all or any part of such Post-Completion Dividend approved by BNM not being declared and distributed within such period specified above, MBSB shall use its reasonable endeavours to declare and distribute such undistributed amount of Post-Completion Dividend approved by BNM in due course whether as interim and/or final dividends. For the avoidance of doubt, MBSB may take into account the working capital requirements, applicable legal requirements or restrictions in declaring the Post-Completion Dividend referred to above.

21 hours ago

ckwee168

or should we say that MBSB share price has been all the while heavily discounted by the market and the on-going fair valuation of MBSB-MIDF asset will bring to light the true value of MBSB share ... can't wait to see the reaction of the market on the coming Monday :)

20 hours ago

MBSB was trading at 0.5 PB which is insane in my opinion, but that's the market wisdom...but now with MIDF revenue and profit taking into considerations, even if it is still traded and value at 0.5 PB, the price would have to be higher, cannot be 63sen anymore....u see my point?

20 hours ago

ckwee168

i fully agree with ur views @Loy Loy Cheong and i do hope market will come to appreciate what we see too ya :) Any guess on what the final dividend payment will look like post MIDF completion?

20 hours ago

Ultimately EPF & PNB will own MBSB 70% , the two of them will crave for high dividends? Should be for better times ahead. 😁

19 hours ago

Orson Chin

Nx dividend should be 10cts around ….

5 hours ago

https://theedgemalaysia.com/node/670620

4 hours ago

PNB majority owns Maybank. EPF majority owns Rhb.
in the future, PNB might force Maybank to acquire Mbsb, or EPF might force RHB to acquire Rhb

4 hours ago