CIMB Research advises investors to accumulate Maybank shares

Home >> Daily News >> Malaysia News >> Investmen >> CIMB Research advises investors to accumulate Maybank shares

NEWS UPDATES

Asean Affairs 5 June 2013

CIMB Research advises investors to accumulate Maybank shares

KUALA LUMPUR: CIMB Equities Research advises investors to accumulate shares of Malayan Banking Bhd (Maybank) which is its top pick for the banking sector given its rapid growth in Indonesia.

“Other catalysts would include the regional expansion of its investment banking business and benefits from the implementation of ETP (Economic Transformation Programme) projects in Malaysia,” it said on Tuesday.

CIMB Research said Maybank's management thinks Bank Internasional Indonesia (BII) will contribute more than 10% of Maybank's earnings by 2015.

“This reaffirms our expectation of a swift expansion of BII earnings. It also anticipates BII's ROE to expand from 13% in 2012 to 16% in 2015,” it said.

The research house said to achieve an assumed target of 12% contribution from BII to Maybank's profit before tax (PBT) by 2015 (versus 8.8% in 2012), BII's PBT needs to record a 21% CAGR in FY12-FY15.

“We think this is achievable given its strong loan growth and margins. Reiterate Outperform on Maybank, based on strong growth in the region,” said CIMB Research, which is maintaining its target price of RM12.10.

Share

Reach Southeast Asia! 10- Nations, 560- Million Consumers And $1 -Trillion Market
We are the Voice of Southeast Asia	*Media Kit*
The only Media Dedicated to Southeast Asia	*Advertising Rates for Magazine*
	*Online Ad Rates*
Contact: marketing@aseanaffairs.com

Comment on this Article. Send them to your.views@aseanaffairs.com
Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited

or
submit your comment in the box below

Today's Stories 5 June 2013

Subsribe Now !

• Singapore Airlines to order up to 50 more A350 XWBs

• Subcribe: Asean Affairs Global Magazine

• China – Southeast Asia People to People High-Level Dialogue Kicks Off to Realise the Common Dream and Aspiration of Its Peoples

• Asean Affairs Premium

• Malaysian bonds beat peers after Barisan win

• CIMB Research advises investors to accumulate Maybank shares

Research Reports
on Thailand 2007-2008

•Textiles and Garments Industry

•Coffee industry

•Leather and footwear industry

•Shrimp industry

• Adaro bags $380m loans to pay debts

• Second-largest trade deficit booked in April: BPS

• LPS resumes offering for Bank Mutiara

Asean Analysis 4 June 2013

• Advertise Your Brand

• Asean Analysis- June 4, 2013
MTF 2013 in China ’s Guilin announced

Asean Stock Watch 4 June 2013

• Asean Stock Watch-June 4, 2013

ASEAN NEWS UPDATES Updated: 04 January 2011

• Women Shariah scholars see gender gap closing
• Bank Indonesia may hold key rate as inflation hits 7 percent
• Bursa Malaysia to revamp business rules
• Private property prices hit new high in Singapore • Bangkok moves on mass transport
• Thai retailers are upbeat
• Rice exports likely to decline • Vietnamese PM projects 10-year socioeconomic plan

ASEAN ANALYSIS

This year in Thailand-what next?

AseanAffairs 04 January 2011
By David Swartzentruber

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More

Name

Email

1. Verifier