Posted by DannyArcher > 2020-11-01 23:40 | Report Abuse

PH/DAP wants loan moratorium and wage subsidy initiatives to be extended until March 31, 2021.... run... GG

Posted by mf > 2020-11-02 05:35 |

Post removed.Why?

Posted by kiasuamateurinvest > 2020-11-02 09:13 | Report Abuse

Cimb will have to do national service

Posted by Jeffreyteck > 2020-11-02 09:39 | Report Abuse

Est will be hit at least one, rate cut or extension of moratorium.

Posted by apanama > 2020-11-02 11:41 | Report Abuse

See you at RM 1.80 - RM 2.00

Posted by jonathanchee > 2020-11-02 11:48 | Report Abuse

i alrready warn ppl DO NOT enter SOTONG until March 2021 even it looks very very cheap!! good luck those brainless buy at RM3.05

Posted by jonathanchee > 2020-11-02 11:49 | Report Abuse

my advise is DO NOT enter any BANK counter until March 2021.. good luck guys

Posted by Alfonso > 2020-11-02 11:56 | Report Abuse

totally hangus!

Posted by Alfonso > 2020-11-02 12:18 | Report Abuse

a lot of peoples trapped because of unpredictable covid virus, before covid the price range about 4 to 5

Posted by seowdingdong > 2020-11-02 12:29 | Report Abuse

Hopeless sotong...everyday new low...wana cry already

Posted by Jeffreyteck > 2020-11-02 14:40 | Report Abuse

Mbsb already incurred two quaters loss consecutively. Est first Q loss for cimb is around the corner. Wish I am wrong anyway.

Posted by canbuyla > 2020-11-02 14:43 | Report Abuse

rights issue will come ...standby, shareholders

Posted by Sailangking > 2020-11-02 18:09 | Report Abuse

tomorrow all in

Posted by foongkitmun > 2020-11-02 20:10 | Report Abuse

lau sai lo... somemore opr cut again..... haizzzz....

Posted by Keyman188 > 2020-11-02 20:37 | Report Abuse

Wahhh...unexpected got BNM committee member here to give insider news worrr....

Aiya...since you can get insider news, next time give us more tips lahhh......

Posted by Keyman188 > 2020-11-02 20:41 | Report Abuse

If BNM no further cut, so what can you cut!!!.....

Cut kuku or lj or breast lips!!!...

Posted by stkoay > 2020-11-02 20:47 | Report Abuse

Ha ha...
Good one...

Posted by yingzhe17 > 2020-11-02 21:32 | Report Abuse

Only few months cimb in this situation the stock price drop like shit. That MOF ex cimb ceo policies cannot pakai. The country going to pokai like he did to cimb. Now cimb is number 4. Wakakaka

Posted by Jason85 > 2020-11-02 23:23 | Report Abuse

Buy some cimb first.. Don't worry

Posted by tkl88 > 2020-11-03 06:27 | Report Abuse

The Dow and S&P 500 zoom higher as Wall Street predicts Joe Biden will win
By Anneken Tappe, CNN Business

Updated 1942 GMT (0342 HKT) November 2, 2020
https://edition.cnn.com/2020/11/02/investing/dow-stock-market-election/index.html

New York (CNN Business)The Dow and S&P 500 were up on Monday, one day before Election Day, when Wall Street expects Joe Biden will win the presidency and Democrats will retake the Senate and maintain control of the House.

Stocks opened sharply higher before encountering some volatility and paring some gains.
The Dow (INDU) was still up 1.4%, or some 360 points, mid-afternoon. At its high point, the index gained more than 500 points. The broader S&P 500 (SPX) was up 0.9%.
Both benchmarks are retracing some of their losses from last week, when they recorded their worst week since March.
Meanwhile, the Nasdaq Composite (COMP) reversed its earlier gains and fell 0.2% in mid-afternoon trade.
Although stocks typically favor Republican policies, investors are eager for more fiscal stimulus, that will buoy an economy headed south once again as coronavirus cases soar. Investors predict a "blue wave" would lift the chances of a comprehensive stimulus deal getting passed in the winter.

A Biden win would also likely mean less news and headline risk for stocks in the term to come, investors believe.
"If the polls are roughly right, Joe Biden is going to win the election comfortably and we will know that before midnight tomorrow," said Andy Laperriere and Don Schneider at Cornerstone Macro.
Even if the polls are wrong, the evidence is still pointing to a Biden victory, they added. Prediction market PredictIt puts a Biden win at 65%.
"We have been emphasizing that the Senate outcome is important for the trajectory of fiscal policy," said Citi economist Andrew Hollenhorst in a note to clients, even though neither party is likely to get a filibuster-proof majority so bipartisan cooperation could still be needed for the next stimulus bill.
"Under any election scenario we expect a $1.5 trillion plus fiscal package, possibly as early as just post-election," Hollenhorst said.
Congress has been stuck on negotiating a second stimulus deal since the summer. Investors have been waiting for results, getting jumpy at any headlines about the progress. What this really tells us is that markets believe the US economy needs more help getting back on track as the effects of the CARES Act are running out.
So far the economy's improvements have been rather uneven. For example, millions of jobs have been added back since the spring lockdown, but the economy is still down more than 10 million jobs from February.
Millions of Americans still need government benefits to make ends meet, and that's bad news because the US economy relies heavily on consumer spending.
Analysts at Goldman Sachs (GS) expect consumer spending to wane in the coming months because of the Covid-19 resurgence is keeping people at home and any new stimulus package will probably take until 2021 to kick in.
And as if this election and its repercussions weren't enough for investors to think about, the week is also filled with important economic reports, including the October jobs report.
On Monday, the Institute for Supply Management reported that America's factories did better than economists had predicted in October. The sector's purchasing managers' index rose to 59.3 points from 55.4 points in September, its highest level since September 2018. Any value over 50 denotes an growth in the sector.

Posted by apanama > 2020-11-03 06:39 | Report Abuse

See you at RM 1.80 - RM 2.00

Posted by Jeffreyteck > 2020-11-03 07:01 | Report Abuse

Oct outflows 670 million. Believe banks is among the target to reduce gradually.

Posted by yfchong > 2020-11-03 07:11 | Report Abuse

Ai yah 2.85...
Can try...

Posted by masterus > 2020-11-03 07:41 | Report Abuse

KUALA LUMPUR (Nov 2): Malaysia's central bank is seen holding its key rate steady on Tuesday, according to a slim majority in a Reuters poll, amid a fresh surge in coronavirus cases and political uncertainty tied to a challenge to Prime Minister Tan Sri Muhyiddin Yassin's leadership.

Bank Negara Malaysia's (BNM) last monetary policy committee meeting for the year also comes just days before Muhyiddin's administration presents its first budget. Muhyiddin has said the budget will focus on measures to counter the economic impact of the Covid-19 pandemic.

Nine out of 17 economists polled expect Bank Negara Malaysia (BNM) to keep its overnight policy rate at a record low of 1.75%, after having already delivered 125 basis points of rate cuts this year.

Posted by Alfonso > 2020-11-03 07:41 | Report Abuse

Evil Affin wang is so much confident to set TP 2.70....ok i believe u only once!

Posted by limiklimik > 2020-11-03 10:45 | Report Abuse

Missed the mark hahahaha. I thought the bottom was 2.95-2.96.

Posted by WarrenPuffet > 2020-11-03 11:03 | Report Abuse

This sotong once drop, drop 0.05 but up only up 0.01 - 0.02.... aduh...headache

Posted by Alfonso > 2020-11-03 11:35 | Report Abuse

very good in dropping even after up 10 cents will drop another 30cents, why kind of sotong cacat ni!

Posted by masterus > 2020-11-03 11:44 | Report Abuse

The Reserve Bank has cut the official cash rate today to an all-time low of 0.10 per cent from 0.25 per cent.
This effectively takes the cash rate to near negative interest rates on Melbourne Cup day.

Posted by yingzhe17 > 2020-11-03 13:00 | Report Abuse

CibaiMB going to sell more assets to China
That’s what they did to their investment arm. Noob MOF

Posted by yfchong > 2020-11-03 14:33 | Report Abuse

Is the worst over.....?

Posted by Goldgent > 2020-11-03 15:34 | Report Abuse

Bank Negara keeps OPR at 1.75%
https://www.theedgemarkets.com/article/bank-negara-keeps-opr-175

Posted by Alfonso > 2020-11-03 15:46 | Report Abuse

oiyoh suddenly show power this sotong but i wont believe u at all

Posted by RedEagle > 2020-11-03 21:13 | Report Abuse

AFTER two consecutive quarters of losses, Malaysia Building Society Bhd (MBSB) anticipates returning to the black in the third quarter of this year.

President and CEO Datuk Seri Ahmad Zaini Othman says MBSB expects to post a profit in the third quarter of the year ending Dec 31, 2020 (3QFY2020), for two main reasons — one, there will not be any modification loss in that quarter and, two, he expects the bank’s net operating income to be sustained as per the level of the second quarter.

“We also expect that gains from the sale of financial instruments will continue to contribute to the group’s total income,” he says in response to questions from The Edge.

The banking group, which is 65.4%-owned by the Employees Provident Fund (EPF), saw net profit rise to a five-year high of RM716.9 million in FY2019 before its fortunes turned this year, mainly because of the Covid-19 pandemic.

In 1QFY2020, the lender posted a net loss of RM73.25 million compared with a net profit of RM83.83 million in the same period a year earlier, due to higher impairment charges on loans, financing and advances. This was despite revenue rising 1.9% year on year to RM741.41 million.

Its net allowance for impairment charges almost doubled to RM291.78 million from RM153.02 million. This stemmed mainly from “property and construction financing, on the corporate side”, according to Ahmad Zaini.

And, in 2QFY2020, it made a net loss of RM121.51 million due to a hefty, one-off modification loss of RM512.61 million that arose because of the blanket loan repayment moratorium granted to customers. This was despite a 17% improvement in revenue to RM886.35 million.

Had it not been for the modification loss, the group would have been in a position of profit. The modification loss was hefty — by far the largest among the listed banking groups — due to its sizeable financing portfolio contracted at fixed-rate financing. In fact, 92% of the loss came from its fixed-rate personal financing business, which is its largest financing segment.

Going forward, Ahmad Zaini does not expect a marked rise in non-performing loans (NPLs) or provisions in 3QFY2020 as customers continued to come under the blanket moratorium until end-September, hence the status of the loans remained as “performing”.

These are not expected to rise significantly in 4QFY2020 either, he says. “We don’t think so, as our personal financing [repayments] are via a salary-deduction scheme. Maybe [some] in home loans, but that would be small.”

As at end-September, the take-up rate among customers for targeted assistance on financing is “not significant”, he says, without providing numbers.

In late August, MBSB had guided analysts that there would potentially be an additional RM30 million to RM50 million modification loss given that the moratorium would be extended beyond September for selected accounts that needed further assistance. Ahmad Zaini now says this will likely come in much lower as applications for such assistance has been lower than expected.

Asked if the worst is behind the group, Ahmad Zaini says it all depends on how long the current third wave of the coronavirus pandemic and the ensuing partial lockdowns last.

“If at all, [the stress] is going to be on the corporate property financing side. We need to see how property sales are, moving forward. If the developers have trouble selling their properties, that could be a problem for us. [The impact of] that will probably be reflected in our second quarter of next year … because banks can still continue to provide R&R (restructuring and rescheduling of loan repayments) to troubled SMEs (small and medium enterprises) and corporates, without having to categorise them as non-performing, until June next year,” he says.

As at end-June, MBSB’s gross impaired loan (GIL) ratio stood at 6.08%, while that of its banking unit MBSB Bank stood at 3.28%. “We expect GIL to improve by year-end, with our collection efforts,” Ahmad Zaini says.

CEO’s last term
According to sources, these are expected to be Ahmad Zaini’s final months as MBSB president and CEO, as he will be leaving once his current two-year contract comes to an end in February next year. He, however, declines to comment when asked about it.

Sources say that MBSB’s long-time chairman, Tan Sri Abdul Halim Ali, 77, will also be leaving upon the end of his term in February next year. Abdul Halim has been chairman since June 2001.

Ahmad Zaini, 63, has been in the lender’s driving seat for over 11 years. He was appointed to the role on Feb 26, 2009.

In early 2018, MBSB created deputy CEO roles for the purpose of succession planning. It appointed Datuk Nor Azam M Taib as deputy CEO of business and Risham Akashah Kamaruzaman as deputy CEO of operations.

It remains to be seen if one of them will eventually take on the CEO role as the EPF, the bank’s controlling shareholder, could also consider an external appointment.

Posted by BATFLY > 2020-11-03 21:39 | Report Abuse

Guess the price already the lowest below rm3.. Review the quartely result before buying.. Book value is low at 0.5..

Posted by stkoay > 2020-11-03 22:45 | Report Abuse

Financials lead stock higher in US.

Dow up 380 points.

Posted by Jason85 > 2020-11-03 23:48 | Report Abuse

Buy some keep already.. Cimb my favourite

Posted by tkl88 > 2020-11-04 07:10 | Report Abuse

Wow, Dow Jones continue to spike up !
Dow Jones closed at=> 27,480.03 (+554.98) (+2.06%) !

World stocks super bull market is coming !

Posted by Jeffreyteck > 2020-11-04 08:35 | Report Abuse

Next two hurdles, moratorium and quarterly results.

Posted by masterus > 2020-11-04 08:38 | Report Abuse

UAE's vice president receives COVID-19 vaccine

Posted by masterus > 2020-11-04 09:03 | Report Abuse

Dalio Says Yuan Will Be a Reserve Currency Faster Than Expected
November 2nd, 2020, 6:52 PM GMT+0800

Posted by Alfonso > 2020-11-04 09:06 | Report Abuse

1st win on maintain of OPR, actually still got a lot of uncertainties
- Macro economy recovery
- political instability
- Covid cases
- upcoming details of financial budget 2021 such as moratorium

Posted by Alfonso > 2020-11-04 09:07 | Report Abuse

Anyway, covid still the King Maker, if covid suddenly disappear. everything will bc to normal

Posted by Loy Loy Cheong > 2020-11-04 09:08 | Report Abuse

If the quarterly result is above expectation, then all the bad things will be history and wait for vaccine news for recovery play on financial sector.

Posted by liegelord > 2020-11-04 10:41 | Report Abuse

finally... going at 3 now

Posted by Jeffreyteck > 2020-11-04 12:05 | Report Abuse

Possibility results better than last Sep is 10%. To support price level, may give 3 sen dividend.

Posted by tkl88 > 2020-11-04 12:30 | Report Abuse

Latest US election update !
As at 12.25pm,
Joe Biden already have 209 votes leading Donald Trump's 118 votes by 91 votes,
Joe Biden just need only another 61 votes then will won the US election !

Huat ah ! Heng ah ! Ong ah !

Posted by tkl88 > 2020-11-04 12:30 | Report Abuse

Latest US election update !
As at 12.25pm,
Joe Biden already have 209 votes leading Donald Trump's 118 votes by 91 votes,
Joe Biden just need only another 61 votes then will won the US election !

Huat ah ! Heng ah ! Ong ah !

Posted by Alfonso > 2020-11-04 14:44 | Report Abuse

Latest US election update !
As at 14.45pm,
Joe Biden already have 238 votes leading Donald Trump's 213 votes by 25 votes,
Joe Biden just need only another 32 votes then will won the US election !

Huat ah ! Heng ah ! Ong ah !

Posted by Loy Loy Cheong > 2020-11-04 16:18 | Report Abuse

Perodua records highest ever monthly sales in Oct – 26,852 units beats previous record set last month

The economy may not be as bad as what is expecting, only sectorial areas are affected and hence earnings may not be that bad. News continue to report economy recovering.....so let's see how this will play out. my guess is CIMB oversold, worse days may be over.