Wednesday, June 7, 2017

The CIMB Group is disposing its 50% stake in CIMB Securities International (its regional stockbroking unit) to China Galaxy Securities to form a 50:50 JV. The move is expected t

Top Calls

Company Update CIMB Group (BUY, maintain)

- Entering into a new galaxy

The CIMB Group is disposing its 50% stake in CIMB Securities International (its regional stockbroking unit) to China Galaxy Securities to form a 50:50 JV. The move is expected to result in a potential gain of RM180m, open doors to more capital market deals and enhance its level of customer service. Maintain BUY, with PT raised from RM7.00 to RM7.50 (at 1.4x P/BV target).


Other Calls

Sector Update Plantation (NEUTRAL, maintain)

- Good 1Q17 on higher FFB and CPO prices



For important disclosures, please refer to the Disclosure section at the end of the individual linked research reports.

No comments:

Post a Comment

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

Related Posts with Thumbnails