Wednesday, August 30, 2017

FW: AmBank Research - RHB Bank : Stronger non-interest income ahead BUY, 30 Aug 2017 - Part 1

 

STOCK FOCUS OF THE DAY         

RHB Bank : Stronger non-interest income ahead                                                                               BUY

 

We  maintain  our  BUY call on RHB Bank with an unchanged fair value of RM6.00/share. Our fair value is based on FY18F ROE of 9.1% leading to unchanged P/BV of 1.0x. No change to our earnings forecast.

 

2QFY17 net profit came in at RM501mil (+0.1%QoQ: 43.1%YoY). On QoQ basis, earnings growth was flat with a higher total income offset by an increase in OPEX as well as an impairment of RM108mil on its bonds related to the oil & gas sector in Singapore.

 

 

Others :

AIRASIA : Cruising altitude maintained                                                                                   BUY

Kimlun Corp : 1HFY17 net profit declines 27% YoY                                                              BUY

MRCB : Stronger performance expected in 2H17                                                               BUY

Sunway : Positive growth sustained                                                                                        BUY

Telekom Malaysia : Flat revenue trajectory amid higher operating costs                 BUY

Alliance Fin. Group : Loan growth remained lacklustre                                                    HOLD

Lafarge Malaysia : Subdued 1HFY17 performance                                                             HOLD

Media Chinese : Lost resiliency                                                                                                  HOLD

MSM Malaysia : Still in the red in 2QFY17                                                                               HOLD

WCT Hldgs : Bagging LRT3 job, hiving off 80% TRX development                                  HOLD

Oil & Gas : 2Q17 Report Card: Largely in line                                                                         NEUTRAL   

 

 

 

Stocks On Radar

PMB Technology, Yong Tai, Encorp, Malaysia Airports Holdings

 

 

NEWS HIGHLIGHTS

UMW Holdings : Strengthens ties with Komatsu

Bursa Malaysia  : Adopts green lane policy

Budget 2018 : MoF denies rumours of inheritance tax

 

 

 

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.

Related Posts with Thumbnails