KUALA LUMPUR (June 27): Kenanga Research maintained an "overweight" stance on Malaysia's banking sector, which remains resilient in the face of a complex economic landscape, bolstered by strategic risk management and a focus on high-quality assets.

https://theedgemalaysia.com/node/717079

https://theedgemalaysia.com/node/717079

KUALA LUMPUR (June 27): Kenanga Research maintained an "overweight" stance on Malaysia's banking sector, which remains resilient in the face of a complex economic landscape, bolstered by strategic risk management and a focus on high-quality assets.

https://theedgemalaysia.com/node/717079

PETALING JAYA: Earnings for the banking sector in the first quarter of 2024 (1Q24) have come in broadly in line with analysts’ expectations.

https://www.thestar.com.my/business/business-news/2024/06/26/banks-1q-earnings-in-line-with-expectations

https://www.thestar.com.my/business/business-news/2024/06/26/banks-1q-earnings-in-line-with-expectations

https://www.thestar.com.my/business/business-news/2024/06/26/banks-1q-earnings-in-line-with-expectations

https://www.malaymail.com/news/money/2024/06/26/midf-research-malaysias-equity-market-to-continue-positive-momentum-in-2h2024/141600

https://theedgemalaysia.com/node/716580

PETALING JAYA: MBSB Bank Bhd says it has refunded all monies illegally withdrawn from the accounts of its customers in a recent case in Kota Kinabalu.

Last Friday, Bernama reported that police had detained 14 individuals, including four bank employees, to assist in the investigation into the fraudulent withdrawals of RM24.2 million from several fixed deposit accounts in Kota Kinabalu.

https://theedgemalaysia.com/node/716580

KUALA LUMPUR (June 24): MBSB Bank Bhd said on Monday that it is working closely with authorities to resolve a case concerning illegal withdrawals in Kota Kinabalu.

A thorough internal review initiated by the bank led to the commencement of a police investigation into the matter, said the Islamic bank in a statement on Monday.

It said the incident involved a syndicate that colluded with certain staff members, who are currently in police custody, to carry out the illegal withdrawals authenticated through forged identity cards used by the syndicate.

https://theedgemalaysia.com/node/716580

KUALA LUMPUR (June 24): MBSB Bank Bhd said on Monday that it is working closely with authorities to resolve a case concerning illegal withdrawals in Kota Kinabalu.

A thorough internal review initiated by the bank led to the commencement of a police investigation into the matter, said the Islamic bank in a statement on Monday.

It said the incident involved a syndicate that colluded with certain staff members, who are currently in police custody, to carry out the illegal withdrawals authenticated through forged identity cards used by the syndicate.

https://theedgemalaysia.com/node/716580

FBM KLCI on Uptrend

Mohd Sedek said the FBM KLCI has shown a consistent recovery since the fourth quarter of last year.

With robust support from foreign institutional buying activities, the FBM KLCI posted a year-to-date rise of 9.41 per cent, adding 136.83 points.

He said UOB Kay Hian Wealth Advisors has revised the year-end target for the barometer index upwards to 1,735, a level last seen in 2018, reflecting improved domestic liquidity.

"For reference, the bottom-up target is 1,713 and the hypothetical target at mean price-to-earnings ratio valuation would be 1,803.

FBM KLCI on Uptrend

Mohd Sedek said the FBM KLCI has shown a consistent recovery since the fourth quarter of last year.

With robust support from foreign institutional buying activities, the FBM KLCI posted a year-to-date rise of 9.41 per cent, adding 136.83 points.

He said UOB Kay Hian Wealth Advisors has revised the year-end target for the barometer index upwards to 1,735, a level last seen in 2018, reflecting improved domestic liquidity.

"For reference, the bottom-up target is 1,713 and the hypothetical target at mean price-to-earnings ratio valuation would be 1,803.

https://www.nst.com.my/business/2024/06/1066793/lofty-dividend-payouts-expected-fy2024-financial-health-improves

"By holding dividend stocks, investors can mitigate portfolio risk, as dividends provide a buffer against losses even if stock prices decrease.

"Additionally, dividend-paying stocks demonstrate lower volatility compared to non-dividend-paying counterparts," he said.

Banks and real estate investment trusts (REITs) are renowned for their attractive dividend yields.

He said UOB Kay Hian's in-house analysts project a dividend yield of 6.5 per cent in 2024 for the banking sector, with expectations for it to rise to 6.8 per cent in 2025 and further to 7.1 per cent in 2027.

https://www.nst.com.my/business/2024/06/1066793/lofty-dividend-payouts-expected-fy2024-financial-health-improves

"By holding dividend stocks, investors can mitigate portfolio risk, as dividends provide a buffer against losses even if stock prices decrease.

"Additionally, dividend-paying stocks demonstrate lower volatility compared to non-dividend-paying counterparts," he said.

Banks and real estate investment trusts (REITs) are renowned for their attractive dividend yields.

He said UOB Kay Hian's in-house analysts project a dividend yield of 6.5 per cent in 2024 for the banking sector, with expectations for it to rise to 6.8 per cent in 2025 and further to 7.1 per cent in 2027.

PNB & ASB together, acquired 37.5m shares on 18/6 :p

At 6.79, PE is below 10, cheapest among the top 3.
....for the strong hands, can slowly n cautiously pick up for long term keep....don't buy to trade.

Yesterday, acted too fast picked up 6.82 :(

Cautiously added some at 6.77

https://theedgemalaysia.com/node/715691

KUALA LUMPUR (June 18): Malayan Banking Bhd (KL:MAYBANK) was the only Malaysian company to make it into the top 20 companies by revenue in Fortune’s Southeast Asia 500 rankings for 2024, ranking 17th with US$14.15 billion (RM66.7 billion).

In a statement on Tuesday, Fortune said of the top 20 companies by profitability, Malaysian companies Maybank came in at 11th, CIMB Group Holdings (KL:CIMB) at 17th and Public Bank Bhd (KL:PBBANK) at 19th.

https://theedgemalaysia.com/node/714093

Yes, quickly get on board, very difficult to get this color today.

https://www.cnbc.com/video/2024/06/06/malaysian-stocks-have-outpaced-the-asean-region-sgx.html

https://www.cnbc.com/video/2024/06/06/malaysian-stocks-have-outpaced-the-asean-region-sgx.html

@pang72....not happy there, happy here....haha
....added again yesterday...
....cheers

How you know :)

@Pinky, good......cheers.

@Pinky, we gonna miss u......all the best.

The boat comes back for those who dare to get on board :)

Top 3 Banks 1Q Results

MBB Net Profit 2.48B EPS 20.63 sen QoQ +4.2% YoY +9.8%

CIMB Net Profit 1.93B EPS 18.16 sen QoQ +12.9% YoY +17.7%

PBB Net Profit 1.65B EPS 8.52 sen QoQ +2.35% YoY -3.54%

No.1 & No.2 sui sui :-)

Top 3 Banks 1Q Results

MBB Net Profit 2.48B EPS 20.63 sen QoQ +4.2% YoY +9.8%

CIMB Net Profit 1.93B EPS 18.16 sen QoQ +12.9% YoY +17.7%

PBB Net Profit 1.65B EPS 8.52 sen QoQ +2.35% YoY -3.54%

Top 3 Banks 1Q Results

MBB Net Profit 2.48B EPS 20.63 sen QoQ +4.2% YoY +9.8%

CIMB Net Profit 1.93B EPS 18.16 sen QoQ +12.9% YoY +17.7%

PBB Net Profit 1.65B EPS 8.52 sen QoQ +2.35% YoY -3.54%

Profit 1.9b
EPS 18.16 sen

59m shares changed at pre close at 6.84

....so BIG volume :p

25.3m shares changed hand at pre close at 9.93

By Marcus Wong / Bloomberg
31 May 2024, 12:19 pm
main news image
Analysts are predicting that the ringgit’s rebound from a 26-year low will prove more lasting than a previous attempt as global funds return to Malaysian assets and the export outlook improves.

(May 31): The ringgit has raced ahead of all its Asian peers in the past three months and if market watchers are right, the move is set to gain traction.

The currency — which has climbed nearly 1% since the end of February — is expected to rise to 4.65 per dollar by year-end from 4.7050 now, according to strategists surveyed by Bloomberg. Rising foreign inflows and income repatriation by state firms are fuelling the optimism.

Analysts are predicting that the ringgit’s rebound from a 26-year low will prove more lasting than a previous attempt as global funds return to Malaysian assets and the export outlook improves. Local stocks are set to receive their first monthly inflow since February while overseas investors snapped up US$233 million (RM1.1 billion) of the nation’s bonds in April.

The ringgit’s performance is due to “foreign inflows into domestic equity and bond markets, improved growth prospects and a widening of the current-account surplus”, said Christopher Wong, a strategist at Oversea-Chinese Banking Corp in Singapore.

Home
Ringgit overcomes this year’s slow start as inflows gather pace
Currency
Ringgit overcomes this year’s slow start as inflows gather pace
By Marcus Wong / Bloomberg
31 May 2024, 12:19 pm
main news image
Analysts are predicting that the ringgit’s rebound from a 26-year low will prove more lasting than a previous attempt as global funds return to Malaysian assets and the export outlook improves.

(May 31): The ringgit has raced ahead of all its Asian peers in the past three months and if market watchers are right, the move is set to gain traction.

The currency — which has climbed nearly 1% since the end of February — is expected to rise to 4.65 per dollar by year-end from 4.7050 now, according to strategists surveyed by Bloomberg. Rising foreign inflows and income repatriation by state firms are fuelling the optimism.

Analysts are predicting that the ringgit’s rebound from a 26-year low will prove more lasting than a previous attempt as global funds return to Malaysian assets and the export outlook improves. Local stocks are set to receive their first monthly inflow since February while overseas investors snapped up US$233 million (RM1.1 billion) of the nation’s bonds in April.

The ringgit’s performance is due to “foreign inflows into domestic equity and bond markets, improved growth prospects and a widening of the current-account surplus”, said Christopher Wong, a strategist at Oversea-Chinese Banking Corp in Singapore.

https://theedgemalaysia.com/node/713691

CIMB Investment Bank and BofA Securities are the joint bookrunners for the block of shares being put up via ANZ Fund.

QoQ up 24%.....good report.

1Q24.....another 3 more days wait :)

Wow, at current price, shortish also dare to short?
Net short position for 24-5-24 ....19m shares 0.1%

https://www.bursamalaysia.com/misc/missftp/sblnt/NetShortPosition20240524.pdf?t=1716820118

This one....save the best for last :)
....QR will probably on the last day evening.

While PNB & ASB have been "changing hand" (50m shares in 2 days), EPF has been adding big these few days....
https://klse.i3investor.com/web/insider/detail/SBSH_586647_2292030829

4.9m shares done during pre close....

Analyst have raised TP.

TA from 9.90 to 10.80

RHB-OSK from 10.20 to 10.60

Kenanga maintained TP at 11.00

https://theedgemalaysia.com/node/712953

KUALA LUMPUR (May 24): The Ministry of Finance (MOF) is serious about ensuring the success of economic reforms in Malaysia, aiming to overcome the middle-income trap and stimulate the economy.

The MOF said the Madani government’s pro-development policies and encouraging innovation had given new life to the national economy.

“The encouraging response from investors in the early stages of this policy reform proves that the Malaysian economy is on the right track to reap more wealth in the coming years,” the MOF said in a post on the X online platform.

n the post, the MOF also shared statistics of Malaysia’s market performance in the early stages of economic reform, which was one of the best in Asean as of May 20, 2024.

This included the performance of the stock index, which increased by 11.9%, the second best among the stock indices of Asean countries, indicating a sharp increase in the performance of the FBM KLCI, compared with -2.7% in 2023.

The MOF also stated that the compound annual growth rate of foreign direct investment was the best in four years at 22.4%, surpassing Singapore’s 17.7%.

In addition, Malaysia’s (company index) dividend yields of between 4% and 5% were the best in the region, apart from Singapore.

Sotong punya NIM mungkin akan naik 5 bps....Harimau turun 19 bps.

@Pinky saya rasa sotong akan lebih Bagus....tadi dapat sikit 6.83 & 6.81...purata 6.82

QoQ up 4.2%

YoY up 9.85%