Posted by Timmy Tan > 2021-11-30 17:48 | Report Abuse

Disappointed with the result. Big impairment of RM1.3billion, mostly for CIMB Thai's goodwill.

Posted by WenJun > 2021-11-30 17:59 | Report Abuse

The Group’s also recognised exceptional expense in 3Q21 amounting to RM1.31 billion, consisting primarily of a non-cash accounting impairment of goodwill related to the Group’s Thailand business of RM1.22 billion and RM83 million in intangible assets write-off and accelerated amortisation. However, this exceptional expense is non-recurring and has no impact to CIMB Group’s liquidity and capital position, and is expected to help optimise the Group’s ROE going forward. On a 9M basis, the exceptional expense also offsets the exceptional gain of RM1.16 billion recorded earlier in the year arising from the de-consolidation of Touch ‘n Go Digital.

Accordingly, including the exceptional expense, the Group recorded 9M21 reported PBT of RM4.81 billion, still higher YoY than 9M20 reported PBT of RM1.36 billion. 3Q21 reported PBT was RM333 million, lower QoQ compared to 2Q21 reported PBT of RM1.58 billion and YoY against 3Q20 PBT of RM454 million.

Posted by melanie1818181818 > 2021-11-30 19:47 | Report Abuse

Wah, management so clever, perfect timing to impair goodwill to reduce tax

Posted by melanie1818181818 > 2021-11-30 19:49 | Report Abuse

Capital ratio will not be affected by impairment, so dividend should be fine

Posted by melanie1818181818 > 2021-11-30 19:50 | Report Abuse

Sure will do more impairment in Q4

Posted by latuk > 2021-12-01 01:55 | Report Abuse

So is this qtrly result good or bad?

Posted by Havefun > 2021-12-01 08:12 | Report Abuse

@latuk, you will know later when the market opens

Posted by latuk > 2021-12-01 10:05 | Report Abuse

Precisely.

Posted by gordonn > 2021-12-01 10:35 | Report Abuse

Quarter 3 results with impairment of 100mil was affected by the movement control order and modification loss incurred on the repayment assistance programme under the Pemulih assistance package.

Posted by calvintaneng > 2021-12-01 13:49 |

Post removed.Why?

Posted by Moon1668 > 2021-12-01 14:45 | Report Abuse

Losses in banks are slowly coming.

Posted by ahbah > 2021-12-01 14:50 | Report Abuse

klci fighting hard to defend the 1500 pt now ?

Posted by kfbusjd > 2021-12-01 18:09 | Report Abuse

wow bank also can make loss

Posted by Riaz54 > 2021-12-01 20:28 | Report Abuse

No big deal....look in the past corrections.......one should learn. Short termism .....Where do you think the EPF money from new contributions going to go? Think about it! Also other institutions such as mutual funds and insurers where do they invest? Soon the local allocation will return.

Posted by The_JQuestion > 2021-12-01 20:31 | Report Abuse

yaaaa no point make deals and push sales when u are going to pay so much tax...just relax focus on internal improvement build up and look for new potential fields out there

Posted by Star111 > 2021-12-02 21:21 | Report Abuse

fist Q loss since 20 years, wow.

Posted by pdchs > 2021-12-03 07:58 | Report Abuse

Limit down,,,,ha ha ha ha ha ha...

Posted by Star111 > 2021-12-03 23:48 | Report Abuse

better down, not worth that money with low dividend

Posted by MorningGlory123 > 2021-12-04 09:49 | Report Abuse

More turbulence could be ahead for stocks as investors weigh omicron and the Fed’s next steps

Stocks are expected to remain volatile in the coming week, as investors focus on developments related to the Covid omicron variant and weigh the Federal Reserve’s next steps for dialing back its bond-buying program.

This past week Fed Chairman Jerome Powell said the central bank could discuss speeding up its bond-buying taper. This could move up the Fed’s timeline for raising interest rates.

The consumer price index is the big economic report in the week ahead. It’s expected to be even hotter than the prior month.

Posted by MorningGlory123 > 2021-12-04 09:49 | Report Abuse

https://www.cnbc.com/2021/12/03/stocks-could-face-more-turbulence-in-the-week-ahead.html

Posted by stockraider > 2021-12-04 10:02 |

Post removed.Why?

Posted by Star111 > 2021-12-04 21:32 | Report Abuse

this losing money counter unlikely pay dividend if loss again next Q ?? such a shame, other banks pay more interim than this bank. Overvalue

Posted by Thirai Thiraviam > 2021-12-05 10:49 | Report Abuse

If we add the goodwill impairment of RM1.22 bil to net income, the TTM earnings rises to RM0.49, and @12.7 PER, that translates to a TP of RM6.22. Not a bad situation, I think.

Posted by stockraider > 2021-12-05 12:48 | Report Abuse

Think lah!

Why they write off the huge goodwill leh ?

They must be something wrong loh!

Just avoid this Govt bank loh!


Posted by Thirai Thiraviam > Dec 5, 2021 10:49 AM | Report Abuse

If we add the goodwill impairment of RM1.22 bil to net income, the TTM earnings rises to RM0.49, and @12.7 PER, that translates to a TP of RM6.22. Not a bad situation, I think.

Posted by stockraider > 2021-12-05 13:04 | Report Abuse

Goodwill usually due to over payment for their investment or assets mah!

Now become useless...so write off or impairment loh!

Posted by Thirai Thiraviam > 2021-12-05 21:25 | Report Abuse

When valuing banks, I consider only its tangible book value, and how the price compares to it. In the case of CIMB, the tangible book value, at RM4.9, remains the same before and after the write-off.

So, CIMB currently priced at RM5.16, is selling at a slight premium (based on book value methodology). However, historically, it appears like a bargain to me.

Posted by MorningGlory123 > 2021-12-06 15:20 | Report Abuse

Foreign investors remained net sellers with weekly net outflow of RM550.9m last week — MIDF

KUALA LUMPUR (Dec 6): Foreign investors continued to be net sellers during the holiday-shortened trading last week with a net outflow amounting to RM550.90 million, MIDF Research said.


https://www.theedgemarkets.com/article/foreign-investors-remained-net-sellers-weekly-net-outflow-rm5509m-last-week-%E2%80%94-midf


*foreign fund start selling local share again

Posted by wallstreetrookie > 2021-12-06 21:55 | Report Abuse

Institutions are rushing to price in interest rate hikes. The uncertainty remains. My bet is wait until end of December.

Posted by i3lurker > 2021-12-06 22:06 | Report Abuse

as a result of covid, bonds need to be issued
some stricken damaged GLCs may/could be restructured

as usual this may result in RM Billions of fees income to CIMB

will be a mistake to write off CIMB at any time...

Posted by claptonisking > 2021-12-07 10:55 | Report Abuse

@Thirai Thiraviam
You wrote so many words without having a proper conclusion, and it sounds contradicting. So in your mind, would you buy CIMB now and hold or not?

Posted by newbie8080 > 2021-12-07 11:37 | Report Abuse

@claptonisking

If you are looking for dividend yield and stability, better to go for Maybank.

Posted by Thirai Thiraviam > 2021-12-07 17:30 | Report Abuse

@claptonisking - Sorry, if I weren't clear. I have a position in CIMB. (Bought into it following the March '20 crash.) Right now, I am on hold, but DRIP investing.

Posted by claptonisking > 2021-12-08 11:39 | Report Abuse

@Thirai Thiraviam
Really sorry, i read my post again, did not mean to come off as insulting you or anything.
Same here, I've been holding since long before Covid, bought in more and averaged down a lot during MCO and OPR cuts and moratorium etc. I too, am just holding and choosing DRP all the way.

Posted by Risk Trader > 2021-12-09 00:09 | Report Abuse

Next QR 2022, all banks except Public Bank will making loss due to more loan stuck after no more moratorium...

Posted by i3lurker > 2021-12-09 22:45 |

Post removed.Why?

Posted by biscuitboy96 > 2021-12-13 10:01 | Report Abuse

https://www.theedgemarkets.com/article/china-galaxy-raises-stake-stockbroking-jv-cimb

Posted by pBlue > 2021-12-14 12:57 | Report Abuse

Does Serba have any assets?
Which bank has seniority in the loan? If there are assets to liquidate, which banks gets paid first.


Posted by i3lurker > Dec 9, 2021 10:45 PM | Report Abuse

I highly doubt Public Bank loan to Serba is recoverable

Public Islamic Bank, Term Equity Financing, Cash Line, Overdraft : RM 18.8 million

vs

CIMB Bank Berhad, Overdraft, LC, Guarantee : RM 4 million


The kindergarden question => Is 18.8 bigger or 4 million bigger?

Posted by whocare1982 > 2021-12-15 21:18 | Report Abuse

https://youtu.be/x4FIC2VY66A
EP5:Public Bank,Maybank,CIMB Target Price, Technical & Fundamental Analysis！

Posted by claptonisking > 2021-12-16 11:47 | Report Abuse

US raise debt ceiling. And delay inflation tapering to mid next year. Any thoughts impact to KLSE?

Posted by lomas > 2021-12-17 18:27 | Report Abuse

https://www.enanyang.my/%E8%B4%A2%E7%BB%8F%E6%96%B0%E9%97%BB/%E5%8D%B0%E5%B0%BC%E8%81%94%E6%98%8C%E6%80%BB%E8%A3%81%E4%BA%BA%E9%80%89%E6%95%B2%E5%AE%9A-%E9%9B%B6%E5%94%AE%E4%B8%9A%E5%8A%A1%E6%80%BB%E6%89%A7%E8%A1%8C%E9%95%BF%E6%8E%A5%E6%A3%92

Posted by biscuitboy96 > 2021-12-23 12:15 | Report Abuse

Waiting for the next wave

Posted by apple168 > 2021-12-28 08:38 |

Post removed.Why?

Posted by apple168 > 2021-12-28 08:38 | Report Abuse

Loan deferment due to flood and Covid! Good Luck!

Posted by Riaz1954 > 2021-12-28 19:25 | Report Abuse

When it comes to traditional valuation methods in case of CIMB it is not so relevant. Due to large Investment by govt institutions, in CIMB it will do better than most in attracting new investment. Pension contributions have to be invested somewhere…and CIMB has a fair allocation to it. So I expect it to rally 6 sometime next year before final,results.

Posted by CakapSohaiThings > 2021-12-31 23:12 | Report Abuse

5 more cents to reach my TP, waiting to hit to rotate to RHB and AMBANK

Posted by prudentinvestor > 2022-01-03 12:17 | Report Abuse

Thank you EPF for being responsible for CIMB's phenomenal rise over the past 14 months. Unfortunately, I have already disposed of all my CIMB shares months ago for a net gain of only 5k.

Posted by Riaz1954 > 2022-01-03 18:42 | Report Abuse

CIMB WILL ALWAYS BE SUPPORTED AS IT IS MALAYSIA PLC

Posted by fruitcake > 2022-01-04 16:17 | Report Abuse

https://www.theedgemarkets.com/article/cgscimb-reiterates-end2022-klci-target-1612
some times it is best to keep quiet

Posted by Thirai Thiraviam > 2022-01-04 18:29 | Report Abuse

What kind of lame duck prediction is this? To me the two biggest factors are:

1) tightening monetary policy, which is likely have a negative effect; and
2) looming election, likely held in mid-2023, which is likely to have a positive effect.

On balance, however, I am optimistic about KLSE performance in 2022.

Posted by Cakes Moon > 2022-01-10 11:42 | Report Abuse

Banking & finance sector on the move.
All in CIMB call warrant to win big!!!