KUALA LUMPUR (April 30): Analysts are mixed on CIMB Group Holdings Bhd’s outlook, even though its 92.5%-owned Indonesian banking unit PT Bank CIMB Niaga Tbk (CIMB Niaga) reported a robust set of financial results for the first quarter ended March 31, 2021 (1QFY21).
AmBank Research maintained its “buy” recommendation on CIMB Group, with an unchanged fair value (FV) of RM5.50 per share, based on an estimated FY22 return on equity (ROE) of 9%, leading to a price-to-book value ratio of 0.9 times.
“CIMB Niaga s strong earnings in 1QFY21 led to an ROE of 10.5%.
“With the number of Covid-19 cases in Indonesia on a declining trend, this, coupled with optimism about the country’s vaccination programme, is likely to improve consumer and business sentiment, leading to an economic recovery in Indonesia,” analyst Kelvin Ong said in a note today.
KUALA LUMPUR, May 2 (Bernama): Analysts are mixed on CIMB Group Holdings Bhd’s outlook despite its 92.5 per cent-owned Indonesian banking unit, PT Bank CIMB Niaga Tbk (Niaga) reported a robust financial results in the first quarter ended March 31,2021 (Q1 FY21).
AmBank Research has maintained a buy” recommendation on CIMB Group with an unchanged fair value of RM5.50 per share based on FY22 return on equity (ROE) of 9.0 per cent, leading to a price-to-book value ratio 0.9 times. The strong Niaga’s earnings in 1QFY21 led to an ROE of 10.5 per cent. With the number of COVID-19 cases in Indonesia has been on a declining trend, this, coupled with the optimism on the country’s vaccination programme, are likely to improve consumer and business sentiment leading to an economic recovery in Indonesia, ” analyst Kelvin Ong said in a note today.
KUALA LUMPUR, April 30 Analysts are mixed on CIMB Group Holdings Bhd’s outlook despite its 92.5 per cent-owned Indonesian banking unit, PT Bank CIMB Niaga Tbk (Niaga) reported a robust financial results in the first quarter ended March 31, 2021 (Q1 FY21). AmBank Research has.
KUALA LUMPUR (Feb 23): Hextar Global Bhd rose as much as 12 sen or 10.91% to RM1.22 this morning, after the group posted stellar results and announced a bonus issue.
At noon break, the counter pared gains to RM1.21, still up 11 sen or 10%. The counter saw some 15.93 million shares traded.
The group announced yesterday that its net profit grew 48.17% to RM11.51 million in the fourth quarter ended Dec 31, 2020, from RM7.77 million a year earlier on the back of a strong performance by its agrochemical segment.
It also announced a bonus issue of up to 492.4 million new shares on the basis of three new shares for every five existing shares.
KUALA LUMPUR (Jan 13): The FBM KLCI rose 1.5% or 24.65 points to 1,636.69, lifted by bargain hunting, as measures seen as containing the coronavirus pandemic as well as ensuring political stability were put in place in the form of the second round of the movement control order (MCO 2.0) as well as the proclamation of the state of emergency.
The KLCI closed near its intraday high of 1,637.31, mainly driven by the banking index, with Public Bank Bhd leading the charge.
Public Investment Bank Bhd head of research Ching Weng Jin told The Edge that the market may progressively go higher on anticipation of Covid-19 vaccines and an improved economy.