serena717 after attend the AGM today, I will slowly sell out my stake. Some even walk out after listen the dividend policies. Guys, keep on bull sh*t won't help, especially with caps letter.
13/09/2017 20:44

Eric Fong How they say about the dividend policy?
13/09/2017 23:10

PLEASE SHARE WHAT U LEARNT FROM THE AGM.

TQ

U MEAN THESE 2 PROJECTS HAD ACTUALLY BEEN DEFERRED FOR 2 YEARS?

ALSO WHAT DO U MEAN BY "UNTRAP" ? U MEAN BETTER TO ESCAPE BY SELLING/EXITING?

2 NEW LAUNCHES WITH TOTAL GDV 710M WITHIN THE NEXT FEW MONTHS WILL CONTRIBUTE POSITIVELY AND ADD TO EARNINGS FOR FYE MARCH 2018.
1ST PHASE FORRESTA IN SRI DAMANSARA WAS A COMPLETE SOLD OUT SUCCESS PROJECT DUE TO ITS STRATEGIC LOCATION NEXT TO MUTIARA DAMANSARA (THE CURVE PJ) AND PERDANA DAMANSARA AND VERY WELL SERVED BY MRT , KTM AND DUKE HIGHWAYS BESIDES TOLL FREE MIDDLE RING ROAD MRR) AND ALSO TOLL FREE ACCESS TO KOTA DAMANSARA, BANDAR UTAMA AND TTDI.
HENCE ITS 2ND PHASE TO BE LAUNCHED COMING NOVEMBER WILL BE ANOTHER BIG SUCCESSFUL PROJECT

2474 ACRES OF FRERHOLD LANDS NEAR TG MALIM OWNED LONG AGO AT BOOK VALUE OF ONLY 0.40 SENS PSF COMPARED TO CURRENT MARKET VALUATION OF RM30 PSF

TYPO ERRORS.
KERLING LANDBANK NEAR TG MALIM JUST 1 HOURS DRIVE NORTH OF K.L. IS ACTUALLY 2,474 ACRES

THE LAST TIME WE ESTIMATED ITS CASH BACKING PER SHARE WAS 16 SEN PER SHARE.
WITH 300,000 ACRES OF LANDBANK COMPRISING SOME WHICH WERE OWNED AT VERY LOW COST (EG 274 ACRES OF FREEHOLD LAND IN KERLING CLOSE TO TG MALIM TOWN CENTRE HAS A BOOK VALUE IF ONLY 0.40 SEN PSF VS CURRENT MARKET VALUE OF 3.00).
MANY OTHER LANDS ARE ALSO OWNED AT LOW COSTS INCLUDING THAT PRESENTLY USED AS A CLUBHOUSE WITH GOLF DRIVING RANGE. THIS IS TO BE REDEVELOPED INTO A PRIME COMMERCIAL/SERVICE APARTMENT COMPLEX. ALSO OWNS LOW COST LANDS IN SENAWANG AND PENANG. HENCE LOTS OF HIDDEN VALUES IN ITS 300,000 ACRES LANDBANKS. THEIR DEVTS WILL GENERATE BIG FUTURE PROFITS. GROWING PROFITS PLUS CASH BACKING PER SHARE OF 16 SEN = CONTINUITY IN 2 SEN DIVIDEND POLICY WHICH WERE PAID CONSISTENTLY FOR THE PAST 5 YEARS.
BIG SHAREHOLDERS ALSO BENEFIT FROM GOOD DIVIDENDS. SELF INTEREST FOR THEM TO CONTINUE

THE FACT THAT ITS MAIN SHAREHOLDERS, MAYLAND HK, HAD PURCHASED 3.8M MORE SHARES AT 0.225 FROM THE OPEN MARKET HAS MANY POSITIVE IMPLICATIONS ESPECIALLY POINTING TO ITS STRONG FUNDAMENTALS AND ITS GOOD GROWTH PROSPECTS

L&G to launch RM710m GDV worth of projects in FY18
Neily Syafiqah Eusoff
/
theedgemarkets.com

September 13, 2017 15:02 pm MYT

-A+A
PETALING JAYA (Sept 13): Property developer Land & General Bhd plans to launch two projects with an estimated gross development value (GDV) of RM710 million in its financial year ending March 31, 2018 (FY18).

Its managing director Low Gay Teck said the group is confident the property market will show resilience and probably realise positive profit from to-be-launched projects.

He also said that at ground level, the interest from buyers side has improved from last year.

"Of course there is no doubt that it (property market) is not as buoyant as three years ago, but it has improved from last year in terms of the interest from potential buyers and lock in sales that we are achieving from our Astoria project," he told reporters after the group annual general meeting today.

The launches are the first phase of the township project Sena Parc in Senawang, Seremban which comprises 453 units of double-storey linked houses at an estimated GDV of RM230 million.

"We will be launching this pipeline project by November this year," Low said, adding the group is waiting for final approvals from the relevant authority to launch it.

Additionally, the group will also be launching its second phase of Damansara condominium known as Seresta at Bandar Sri Damansara in February next year.

"That's (Seresta) the second phase of our completed Damansara Foresta," Low said.

He said the Seresta project comprises two towers with a total of 452 units. The estimated GDV for the entire Seresta project is RM480 million.

Currently, the group's existing land banks stands at 3,000 acres.

"We are confident that other opportunities for well-priced land banks will arise and remain on the lookout for such opportunities," Low said.

At midday break today, L&G shares rose 2.27% or 0.5 to 22.5 sen, with 1.50 million shares traded for a market capitalisation of RM659.02 million.

1H RESULTS WERE GOOD WITH PROFITS UP 171% TO 150M.
COMING 3Q PROFITS WILL BE BETTER AND THIS WILL PROPEL ITS SHARE PRICES TO 1.70 TO 1.80 LEVELS. COMING FAST

I THINK U MAY BE RIGHT. MAIN SHAREHOLDER MAYLAND HK INCREASING ITS STAKES HAVE MANY POSITIVE INDICATIONS FOR L&G

Re: www.theindependent sg

Geely feeling the pain of the 49.9% deal at Proton
September 10, 2017
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Photo Credit: www.carshowroom.com.au
Zhejiang Geely Holdings Group that inked a definitive agreement under which it acquired a 49.9% stake in Malaysia’s national car manufacturer for RM460.3 million – a peanut amount indeed – is facing growing pains at Proton.
Sources revealed the Chinese automaker is now feeling the difficulties of being a minority partner – since the 49.9% does not make it a majority partner – in the Malaysian company.
The source

WILL THIS AFFECT ITS PLAN TO SET UP A NEW PROTON CITY PLANT IN TG MALIM ?
IF SO THEN TG MALIM WILL NOT BECOME A BOOM TOWN AND THE EXPECTED INCREASE IN LAND VALUES MAY NOT HAPPEN WHICH IS A NEGATIVE FOR L&G'S 274 ACRES LAND IN KERLING NEAR TG MALIM

(Disclaimer: just to share market news available in the public domain. it NOT a buy or sell call on any share counters)

BNM UNLIKELY TO RAISE INTEREST RATE . ECONOMY DOING WELL WITH INCREASING GDP GROWTH COMBINED WITH DECLINING INFLATION . BNM CALLED THIS OUR ECONOMY IS NOW IN A "SWEET SPOT".. HENCE BNM HAS WILL MAINTAIN ITS INTEREST REGIME. MAY EVEN LOWER IT TO BOOST OUR ECONOMY FURTHER

WHAT IS NEEDED IS GREATER INVESTORS SUPPORT IN HIGHLIGHTING TROPICANA'S ATTRACTIVENESS AS A VERY HIGH DIVIDEND YIELDING STOCK WITH A BIG MARGIN OF SAFETY (NTA 2.21) BASED ON GOOD FUNDAMENTALS

STRONG FUNDAMENTALS PLUS GOOD EARNINGS WHEN COMBINED WITH HIGH DIVIDENDS (PROSPECTIVE DY 9.5%) CAN ATTRACT INSTITUTIONAL INVESTORS LIKE KWAP (GOVT PENSION FUNDS) EPF AND FOREIGN FUNDS) WHICH LIKE HIGH DIVIDEND INCOMES WITH MARKET SAFETY.
WE CAN ACHIEVE BOTH CAPITAL APPRECIATION (RISING SHARE PRICES ) AND HIGH DIVIDEND INCOMES .

Sunday, 10 September 2017 | MYT 12:00 AM
High dividend stocks may find favour as market headwinds abound

Read more at http://www.thestar.com.my/business/business-news/2017/09/10/high-dividend-stocks-may-find-favour-as-market-headwinds-abound/#S1QoFG7vjCxSfWeT.99

STOCK HEADWINDS

As investors weigh increasing risks for equities, including stretched valuations in what is typically a difficult period for stocks, the high dividend payers may be a safer play in a market that could be primed for a pullback

1)CURRENT SHARE PRICE AT 0.945/0.95 GETTING TOO CHEAP TO BE IGNORED.
STRONG FUNDAMENTALS AND GETTING STRONGER WITH HIGHER REVENUES AND PROFITS ACHIEVED EVERY QUARTER.
1H PROFITS AT 89.3M WAS HIGHER BY 83.9%
2) HIGH DIVIDEND YIELD CONTINUES TO BE PAID AND IS SUSTAINABLE.
BETWEEN MAY2015 AND FEB 2016 A TOTAL OF 8.1 SEN (DY OF 8.5%) WAS PAID

19-Feb-2016 03-Mar-2016 DIVIDEND Interim Dividend RM 0.0200 Dividend Detail
26-Nov-2015 09-Dec-2015 DIVIDEND Interim Dividend RM 0.0500 Dividend Detail
11-May-2015 23-Jun-2015 DIVIDEND_SHARE Final Dividend 1 : 100

FOR 2017 A REPEAT OF ITS VERY HIGH DIVIDENDS AND HIGH DIVIDEND YIELDS IS ON:

28-Mar-2017 10-Apr-2017 DIVIDEND_SHARE Second interim dividend 1.2 : 100
18-Jan-2017 31-Jan-2017 DIVIDEND First Interim Dividend (with Dividend Re-Investment Plan) 2.5%

The Board of Directors of Tropicana is pleased to declare a first interim single-tier dividend of 2 sen per ordinary share in Tropicana (“Tropicana Shares”) for the financial year ending 31 December 2017 (“Interim Dividend”

TO DATE INCLUDING THIS 2 SEN CASH D PAYABLE SOON IS ALREADY 5.7 SEN (DY 6%).

WE CAN EXPECT A 2ND INTERIM AND A 3RD INTERIM(OR A FINAL D) DIVIDENDS TO BE DECLARED IN 2017 IN VIEW OF ITS INCREASING REVENUES AND PROFITS THIS YEAR.

A TOTAL DIVIDEND PAYOUT OF 9 SEN (DY OF 9.5%) IS ON THE CARDS MAKING TROPICANA ONE OF THE HIGHEST DIVIDENDS/DIVIDEND YIELDS STOCK IN BURSA

LACK OF INVESTORS INTEREST WAS THE REASON WHY ITS SHARE PRICE IS STAYING DOWN AND DEPRESSED.

THE HUGE UNBILLED SALES WAS NOT BOOKED AS REVENUES N PROFITS DUE TO LONGER TIME NEEDED FIR FOUNDATION WORKS FOR TALL BUILDINGS. AFTER THIS STAGE PRGRESSS WORKS WILL BE FAST. ANF UNBILLED SALES WILL BE QUICKER TO BE BOOKED AS REVENUES N PROFITS FROM NEXT Q ONWARDS.

VERY INTERESTING TO READ AND LEARN FROM ALL THE SKILLED SIFUS ESPECIALLY ON THE DIFFICULT METRICS TO QUANTIFY AND FORECAST ITS RESULTS/PERFORMANCE.

NOW LETS RE-FOCUS A BIT ON ITS NON-METRICS.
SOMETIME AGO I READ A VERY COMPREHENSIVE ANALYSIS WHICH ALSO ADDRESSED THE CONCERNS OF SOME INVESTORS THAT THERE IS LITTLE TO WORRY ON IT BEING MAJORITY OWNED BY A CHINA BASED CO BCOS WE HAVE DATO YVONNE CHIA AS A DIRECTOR. SHE HAD RECENTLY RESIGNED.

THE SELLERS Q AT 0.58 MAY LIKELY DISAPPEAR IN THE AFTERNOON SESSION ?

apolloang now they purposely put 58cts many sellers to scare the retailers to sell
25/08/2017 09:51

GOOD OBSERVATION. SYNDICATES WILL PLAY MANY ROUNDS. UP N DOWN.
THE BIG PLAY UP WILL BE WHEN THE RM750M CASH DEAL IS FINALISED

ON FURTHER THOUGHTS, I AM NOW MORE DOUBTFUL OF ITS PROSPECTS AND WILL BE MORE CAUTIOUS BEING AFRAID OF FUTURE UNEXPECTED NEGATIVE SURPRISES LIKE THIS SHOCKING IMPAIRMENT AND HUGE 4Q LOSS.

UNLESS THERE ARE OTHER IMPAIRMENTS UNKNOWN TO US.
THEN ITS DIFFICULT TO INVEST IN THIS COUNTER.
MANY OTHER LISTED OIL PALM COMPANIES ARE DOING SO WELL. BUT JTIASA IS REALLY SO DISAPPOINTING.
NOW WE UNDERSTAND WHY KYY HAD A BITTER EXPERIENCE WITH IT AND CUT LOSS LAST TIME

NEXT QUARTER'S RESULTS AND PROFITS WILL BE MUCH BETTER WITHOUT ANY MORE GOODWILL IMPAIRMENT (ALREADY WRITTEN OFF IN ATEST Q

4Q LOSS DUE TO GOODWILL IMPAIRMENT OF 66M. OTHERWISE ITS 4Q WOULD HAVE BEEN PROFITABLE. OVERALL ITS FULL FYE2017 REMAIN PROFITABLE
ALSO THE IMPAIRMENT LOSS IS ITS JUST AN ACCOUNTING DEBIT ADJUSTMENT ENTRY WITH NO ACTUAL CASH OR REVENUE LOSS.

FUNDAMENTALS AND FINANCIALS REMAIN INTACT
Still paying a dividend.

JTIASA’S OIL PALM PLANTATIONS ARE WORTH A LOT OF MONEY. INDICATION FROM BOUSTEAD PLANTATIONS’ RM750M CASH OFFER FOR DUTA LAND’S COMPARITIVELY MUCH SMALLER ESTATES.
JTIASA’S PLANTATIONS ARE MUCH MUCH BIGGER IN ACREAGE.

TREASURY SHARE DIVIDEND 1 : 200 = 500 TREASURY SHARES FOR EVERY 10000 ORD SHARES OR 1000 FOR EVERY 20000

EQUIVALENT TO CASH VALUE OF ABOUT 5 TO 6 SEN TOTAL DIVIDEND

ALREADY GOT 5.727M TREASURY SHARES

EXCELLENT 4Q AND FULL YEAR PROFITS IN COMING REPORTS
HIGHER DIVIDENDS WITH A CASH D OF 1 SEN PLUS FREE TREASURY SHARES 1 : 200 LIKELY (GIVEN A FEW TIMES IN THE PAST

STRONG FUNDAMENTALS GROWING STRONGER.
INCREASING PROFITS UPTREND TO CONTINUE EVERY SEQUENTIAL QUARTERS WITH THE COMING 1Q RESULTS REPORTING NEXT WEEK TO BE EXCELLENT (AGREEING WITH THE FINDINGS OF A READER WHO ATTENDED THE RECENT AGM).
SUPPORTED BY VERY SUCCESSFUL SALES OF ALL ONGOING PROJECTS ESP TWY AND STAR RESIDENCES LOCATED IN PRIME AREA NEAR PETRONAS TWIN TOWERS.
LAST DAY TO BUY CUM 3 SEN DIVIDEND IS THIS FRIDAY (1/9. EX D 4/9)

HIGHER DIVIDENDS TO ACCOMPANY BETTER PROFITS. DIVIDENDS WILL NORMALISE BACK UP TO 5 SEN IN COMING FY2018 (STARTING NEXT WEEK) WHERE WE CAN EXPECT A COMBINATION OF CASH DIVIDENDS AND FREE TREASURY SHARES DISTRIBUTION

....."PROTON CITY PLANT" IN TG MALIM

WILL HOLD FOR LONG TERM AS THE NEW PROTON CITY IN TG MALIM WILL TAKE A FEW YEARS TO BE BUILT AND SET UP (re: Transport Minister speech)

P.E. 38x - 29x ARE EXTREMELY HIGH (VERY LOW EPS)

NEED TO CONSIDER THIS.
IF AFB IS REALLY GOOD, THEN WHY DID ITS OWNERS WANT TO SELL IT IN THE FIRST PLACE?

BRAIN. YOUR HIGHLIGHTS ON THE LATEST Q RESULTS WERE VERY INFORMATIVE AND USEFUL . THANKS

DOW NOW DOWN FURTHER BY 180 POINTS

GETTING WORRIED OVER SHARP FALLS IN OVERSEAS MARKETS DUE TO BEING TOPPISH AT ALL TIME HIGHS PLUS INCREASING POLITICAL/MILITARY/ECONOMIC HEADWINDS.
DOW NOW DOWN 150 POINTS

LAST 4Q PROFIT AT RM7.8M WAS A BIG JUMP UP FROM ITS LAST YEARS CORRESPONDING RM0.6M. ITS COMING 1Q WILL SEE HIGHER EARNING GROWTH. AT A REASONABLE P.E. OF 15x (FYE 31/5/17 EPS OF 2.22 SEN) ITS FAIR VALUE PRICE SHOULD BE 33 SEN (AGAINST ITS PRESENT PRICE OF 28.5 SEN)

UNDERVALUED COUNTER WITH SOUND FUNDAMENTALS. ON A RAPID GROWTH UPTREND. ITS MAIN CATALYST IS ITS AMPANG UKAY RM5B PROJECT. ITS 1ST PHASE WAS SOLD OUT. PRIME LOCATION ONLY 7 KM FROM ICONIC PETRONAS TWIN TOWERS. A SORT 10 MINUTES DRIVE. ROBUST GROWTH IN ITS QUATERLY RESULTS AND PROFITS.
NEXT CATALYSTS INCLUDE ITS COMPLETION OF ITS SALE OF 1SEGAMANT MALL FOR RM104M CASH TO A LISTED REITS COMPANY. EXTRAORDINARY GAIN TO BE RECOGNISED IN ITS COMING QUARTERLY PROFITS. ALSO THE UPCOMING LAUNCH OF ITS J/V RM400M HIGH END PROJECT IN BUKIT DAMANSARA WITH IGB.

ALEX FOO. NO. I AM NOT INTO GOLD TRADING.
NOW MAINLY IN CASH
FOR HENGYUAN ITS SIGNIFICANT TO READ SOME CONTRARIAN VIEWS (EG 2Q EPS 0.19 SEN AND THE ABOVE NEGATIVE CASH FLOW ANALYSIS ) AGAINST THE TIDE OF BULLISH
FORECASTS AND BUY CALLS.
PERSONALLY I FIND THE FOLLOWING PREVAILING SITUATIONS SCARY (AT LEAST NOT CONDUCIVE OR SAFE ) TO INVEST IN EQUITIES :-
1)WORLD BOURSES AT RECORD HIGHS
2)NOW IN THE 11TH YEAR ANNIVERSARY OF THE LAST MARKET CRASH (2008). PLUS THE NOTED "CRASH CYCLES EVERY 10 YEARS". MOST AGREE THIS WILL BE ONLY A MATTER OF TIME. NEGATIVE CATALYSTS ESP CENTRAL INTEREST RATE HIKES N TIGHTENING.
3)BURSA IS NOW IN AN EXTREMELY EXCITED STAGE WITH LOTS OF STOCKS CHURNING AMIDST BUY CALLS TO "SAILANG".
4) INCREASING "FALSE CALLS/TIPS TO BUY CERTAIN COUNTERS ONLY TO SEE THEIR SHARE PRICES TUMBLING DOWN AFTER THE FIRST 10 MINUTES OF TRADING. WHAT DID THESE IMPLY?
5)MANY GEO-POLITICAL AND ECONOMIC HEADWINDS, INCLUDING THE NORTH KOREAN CRISIS AND THE INCREASINGLY LIKELIHOOD OF TRADE WARS

I AM JUST TAKING A STEP BACK TO HAVE A REALISTIC AND SOBERING RE-LOOK AT OUR BURSA. I THINK I AM RIGHT TO BE VERY WORRIED. THE RISKS/REWARDS RATIOS ARE JUST NOT WORTH IT.

(PURELY SPEAKING FOR MYSELF AND EXPRESSING MY OWN PERSONAL THOUGHTS AND OPINIONS. NO CALLS TO BUY OR SELL ANY SHARES. ETC)

ARE THE WORLD STOCK MARKETS (INCLUDING BURSA)IN DANGER OF A BIG CORRECTION? OR EVEN A TREND REVERSAL? OR BECOME A BEAR MART?
IN SUCH A SCENERIO ALL SHARE PRICES , INCLUDING FUNDAMENTALLY GOOD ONES WILL FALL. EVEN BLUE CHIPS CANNOT ESCAPE. GOOD SHARES WITH LOW P.E.s CAN ALSO BE HIT

3 risks to consider before investing in Hengyuan
Author: boostmy | Publish date: Mon, 31 Jul 2017, 01:36 PM

3) Hengyuan Shandong’s low entry price

What is curious to us is not Hengyuan’s ability to purchase the 51% stake at RM1.92 but why Shell is willing to part with its stake at such a steep discount.

After all, Shell is a listed multinational and it is answerable to its shareholders. Surely, the disposal price must be justified. Obvious reasons could be its unwillingness to invest further, which begs further questions on the viability of these investments. Royal Dutch Shell has been in the industry for decades, most likely, they know what they are doing.



https://boost.my

THIS 3RD RISK WORRIED ME THE MOST

UNDER THE ABOVE CALL WARRANT CONDITIONS WILL BE BETTER TO KIV CBIP UNTIL ITS SEVERAL CALL WARRANTS WITH NEAR TERM EXPIRY DATES HAD BEEN RESOLVED FIRST?

CALVIN.
LEARNT THAT SHARE COUNTERS WITH CALL WARRANTS HAVING NEAR TERM EXPIRY DATES SHOULD BE AVOIDED BCOS THE CALL WARRANTS ISSUERS WILL ALWAYS SELL DOWN THE UNDERLINING MOTHER SHARES IN ORDER TO WIN AGAINST THE CALL W HOLDERS UNDER THEIR CASH SETTLEMENT FORMULAE.
I HAD PERSONALLY SEEN MOTHER SHARES BEEN INTENTIONALLY DEPRESSED IN THIS WAY.
CBIP HAS SUCH CALL WARRANTS.
YOUR VIEWS PLSE

Nemesis.
SYMLIFE HAS STRONG FUNDAMENTALS.
ALL ITS ONGOING PROJECTS ARE SELLING WELL. ESPCIALLY ITS STAR RESIDENCES.
ITS UNBILLED SALES IS MORE THAN RM1.2B BY NOW. ITS SEQUENTIAL QUARTERLY RESULTS WERE GOOD N GROWING ROBUSTLY. NTA IS ABOVE 2.14. PLUS A BIG LANDBAMK IN SG LONG WHICH IS OWNED AT VERY LOW COST.
AGM N ITS 3 SEN DIVIDEND IS COMING IN 2 TO 3 WEEKS TIME.
SO WE HAVE MANY POSITIVES INCLUDING A CUSHION OF 3 SEN DIVIDEND.
AT 0.905 IT IS AN ATTRACTIVE PRICE.
AGREE WITH YOUR VIEW "THOSE WHO AIM TO COLLECT IT AT LOW PRICES MUST ALSO LIKE SYMLIFE AND WILL PUSH UP ITS PRICE AFTER THEY HAD ACCUMULATED ENOUGH.
HENCE ITS PRICE SHOULD REBOUND UP IN THE NEXT FEW WEEKS ESOECIALLY WITH AGM N DIVIDEND EX DATES SO NEAR

karma will punish them

"Karma" will take care of such people

THIS B***** USED TO SAY HOW GOOD SYMLIFE IS. AND HOW UNDERVALUED IT IS.

SOME PEOPLE HAVE SELFISH ULTERIOR MOTIVES

GOOD BUYING OPPORTUNITY
1Q PROFITS ALTO UP 6.6% COULD HAVE BEEN MUCH BETTER IF NOT FOR THE ADDITIONAL NPL/GIL OF RM200M PROVIDED FOR 1 REAL ESTATE AC (WHICH IS ACTUALLY PERFORMING BUT TECHNICALLY CLASSIFIED IN 1Q AS IT WAS IN THE PROCESS OF RESTRUCTURING & RESCHEDULING (R&R). IF THIS AC CONTINUES TO PERFORM BY MEETING ITS OBLIGATIONS UNDER ITS R&R (I.E. WITHIN THE 6 MONTHS OF 1Q AND 2Q) IT WILL BE DECLASSIFIED. AFFIN BANK WILL BE ABLE TO REDUCE ITS NPL/GIL BY RM200M (by 21.6%)AND ALSO WRITE BACK ITS PROVISIONING FOR THIS AC INTO ITS PROFIT AC. (THIS AC IS ALREADY PERFORMING BEFORE ITS R&R. WITH THE BANK’S MORE ACCOMODATING TERMS UNDER THE R&R IT WILL BE EVEN EASIER TO CONTINUE TO PERFORM. HENCE WE CAN EXPECT AFFIN’S 2Q RESULTS (TO BE RELEASED SOON) TO BE VERY GOOD.
(attached herewith relevant report by HL Investment Bank:-
Affin Holdings - Clear the air on asset quality
Author: HLInvest | Publish date: Wed, 31 May 2017, 09:54 AM
________________________________________
Highlights/ Comments
• Hosts briefing. Affin organized conference call post-1Q17 briefing. To recap, Affin’s 1Q17 net profit of RM123.2m (+6.6% YoY, -30.4% QoQ) was broadly in line with expectations but with rising absolute NPL by +21.6% QoQ.

• Spike in NPL explained. Management explained that the spike in NPL was caused by one specific real estate account located in Klang Valley worth RM200m that was classified under restructured and rescheduled (R&R). To note, the R&R account is classified under impaired loans despite the account still performing. The R&R loans will be reclassified as non-impaired with provisions written back if the borrowers continue to service the loans timely within these six months. In the case of Affin, the particular R&R account is fully collateralized and does not required additional provision. Excluding this account, Affin’s NPL would have declined by 5.5% QoQ, lowering GIL to 1.54% from 2.0%.
• Higher opex temporary. This is rather a seasonal issue as Affin booked various one-off related costs such as IT and Affinity. For instance, the additional 200 headcounts since last year had spiked its personnel cost. For establishment cost, the change in IT vendor will lead to cost saving for Affin to the amount of RM3.5m/month, translating into RM24.5m for FY17 alone. Management guided that such savings will lead to lower CTI in the region of 58% by end of FY17 from 66.4% currently.
• Steady NIM. Despite higher cost of funds by 40bps YoY, Affin’s NIM accelerated by 13bps to 1.97%. This is chiefly driven by higher loans yield. Recall that Affin had replaced RM1.6bn loans with higher yield loans.
• Loan growth intact. Still eyeing 8% loan growth, which will be driven by both retail and SME segment. Management admitted that it is now playing a catchup game with other banks in the SME segment. Nevertheless, it is making swift progress in attracting SME players to achieve its targeted loan growth.