Author Topic: CIMB CIMB  (Read 2331 times)

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CIMB CIMB
« on: June 16, 2016, 02:35:41 PM »



CIMB chief calls profit goal ‘challenging’ as Malaysia slows
Published: June 16, 2016 01:31 PM GMT+8

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CIMB laid off 16 investment bankers in South Korea, Taiwan and India this week, in addition to 12 support staff that were cut from its broking business in Singapore this month. — Reuters pic
CIMB laid off 16 investment bankers in South Korea, Taiwan and India this week, in addition to 12 support staff that were cut from its broking business in Singapore this month. — Reuters pic
KUALA LUMPUR, June 16 — CIMB Group Holdings Bhd., Malaysia’s second-largest lender, may have to lower a profitability target even as it considers shutting some underperforming businesses to reduce costs.

The goal of 15 per cent return on equity by the end of 2018, established as part of a restructuring plan last year, will be “very challenging” to meet, Chief Executive Officer  Tengku Zafrul Abdul Aziz said in an interview Tuesday. CIMB’s Indonesian business has recorded unexpectedly high levels of bad-debt provisions in recent quarters, he said, adding that capital markets are expected to be quiet in the second half and consumer loan growth is slowing amid an economic downturn.

“We are reviewing that as we go on,” Tengku Zafrul said, referring to the ROE goal. “Towards the end of the year, we have to look at how far we are with the achievements at the end-year result. Two years from 2018, if it’s too far, then we’ll have to adjust.”

CIMB, which had an ROE of 7.9 per cent as of March, warned last month of slower regional economies and persistent market volatility when it reported its quarterly results. The firm embarked on a cost-cutting programme last year after abandoning a three-way merger with domestic competitors RHB Capital Bhd. and Malaysia Building Society Bhd. It has closed its Australian office and shed jobs in Malaysia, Indonesia, Hong Kong, Taiwan and South Korea.

The firm has 40,500 employees after cutting 10 per cent last year. While CIMB is considering reductions in some low-returning businesses, the company may hire for growth areas, which could lead to little change in overall headcount, Tengku Zafrul said.

“There will be a headcount reduction for sure, if we continue” to restructure, Tengku Zafrul said. “In areas where we feel that it’s not making enough returns, we have to make the tough decision. There will be also headcount increase in some other areas where we want to focus.”


CIMB laid off 16 investment bankers in South Korea, Taiwan and India this week, in addition to 12 support staff that were cut from its broking business in Singapore this month, the CEO said in a separate statement on Thursday. The investment-banking reduction was reported by FinanceAsia earlier, while Business Times in Singapore reported on the broking changes.

Unprofitable business

Further reductions may come in Indonesia, where the firm is working on plans to exit microfinance, an unprofitable business that has about 1,000 workers, Tengku Zafrul, 42, said in the interview. Cuts may also come in Thailand, where CIMB is shrinking its operations to focus on wealth management, and investment-banking operations in all the company’s geographical locations are also under review, he said.

Corporate and investment banking contributed 38 per cent of CIMB’s pretax income last year, while commercial banking made up 17 per cent, data compiled by Bloomberg show.

The company may hire for areas including servicing small and medium-sized enterprises and transaction banking, Tengku Zafrul said. It will add at least 50 people this year in Vietnam, where it’s starting banking operations with a branch each in Hanoi and Ho Chi Minh City. The company has applied for a Philippine banking license and positions will be added there if CIMB is granted a permit, he said.

Consolidation phase

In Indonesia, which accounts for about a fifth of CIMB’s loans, the bank has tried to lower the risk in a portfolio that previously had too much focus on term loans and commodities, Tengku Zafrul said. The bank is now trying to lend more to bigger companies and multinationals, he said. Bad-debt provisions in 2016 for the country will be lower than last year, he said, adding that he’s “optimistic” about the firm’s performance there in the second half of the year.

After years of rapid growth, CIMB is now in a “consolidation” phase, the bank’s chairman Nazir Razak told reporters at the World Economic Forum in Kuala Lumpur earlier this month.

CIMB dropped 2.5 per cent as of 12:13 pm local time today, bound for the lowest close in four months. The stock has fallen 21 per cent in the past year, compared with a 6.1 per cent decline in the benchmark FTSE Bursa Malaysia KLCI Index.

Nazir had stepped aside as chairman in April during a month-long internal investigation into his role in helping his brother, Malaysian Prime Minister Datuk Seri Najib Razak, distribute funds to politicians before elections three years ago. An audit by Ernst & Young found Nazir didn’t misuse his position or the bank’s resources.

The prime minister is facing his biggest political crisis since coming to power seven years ago amid questions over US$681 million (RM2.79 billion) that appeared in his accounts before the 2013 election. Attorney General Mohamed Apandi Ali said the money was a personal donation from the Saudi royal family, and that Najib later returned US$620 million. Najib has repeatedly denied any wrongdoing. — Bloomberg

- See more at: http://m.themalaymailonline.com/money/article/cimb-chief-calls-profit-goal-challenging-as-malaysia-slows#sthash.dqNIeIob.dpuf

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CIMB CIMB
« on: June 16, 2016, 02:35:41 PM »

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Re: CIMB CIMB
« Reply #1 on: June 16, 2016, 02:38:58 PM »



CIMB distributes special dividend in Niaga
Posted on 16 June 2016 - 05:38am
sunbiz@thesundaily.com
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PETALING JAYA: CIMB Group Holdings Bhd (CIMB) has proposed a special interim dividend-in-specie by way of distributing 1.3 billion existing Class B ordinary shares, representing a 5.44% stake in indirect subsidiary PT Bank CIMB Niaga TBK to entitled shareholders of CIMB.

"The distribution of the dividend shares to the company’s shareholders pursuant to the proposed dividend-in-specie is an avenue to increase the public float of Niaga, with the aim of meeting the requirement under the new Indonesian Stock Exchange rule," CIMB said in a filing with the stock exchange.

The proposed dividend-in-specie has been approved by Bank Negara Malaysia and is not subject to the approval of CIMB shareholders or any other regulatory authorities.

Barring unforeseen circumstances, the exercise is expected to be completed by the end of July 2016

Offline GanSoon

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Re: CIMB CIMB
« Reply #2 on: June 16, 2016, 02:44:52 PM »
Bought back CIMB at 4.23...... :speechless:

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Re: CIMB CIMB
« Reply #3 on: June 17, 2016, 06:01:00 AM »



拟中止回酬率不佳业务
联昌印尼泰国也裁员
181点看 2016年6月16日

(吉隆坡16日讯)联昌国际(CIMB,1023,主板金融股)近2周已辞退28名员工,展望未来,裁员潮可能还会延烧到印尼和泰国业务。


彭博社引述联昌国际集团总执行长东姑再鲁阿都阿兹谈话称,集团在去年裁退了10%员工后,员工人数已降低至4万500人。

“集团正考虑中止部分回酬率不佳的业务,这是我们必须作出的艰难决定。同时,若我们继续重组,就肯定会削减人手。”

2周裁28人

再鲁阿都阿兹续称,联昌国际正制定退出微型贷款领域,因此,印尼业务可能会进一步裁员,该业务共有约1000名员工。

“同时,泰国业务也可能受到影响,因为集团正减少业务营运,来专注在各个地区的财富管理和投资银行业务。”

联昌国际也证实,公司近2周裁退了28名来自新加坡、韩国、台湾和印度的员工。

在这当中,8名员工来自韩国,5名来自印度,3名隶属台湾业务,其余12名则是新加坡员工。

此外,《商业时报》引述联昌国际发言人谈话报道,公司已在上周裁退12名在新加坡从事经纪业务的员工,因资本市场形势严峻。

这些被辞退的员工,大部分是从事幕后支援工作,当中有一半人为合约员工,银行业务则并未受到裁员。

发言人说:“与同行一样,我们受资本市场走软的影响。因此,我们需要对此作出调整,并继续精简经纪业务,来降低成本。”

发言人续称,尽管裁员规模不大,但依然是个艰难的决定。

“然而,这是确保我们维持灵活和强稳,来抵御挑战的‘必经之路’。”

越南增聘50人

再鲁阿都阿兹表示,投资银行业务有着周期发展趋势,因此,公司必须继续观察资金市场的表现。

“我们的首要任务,是确保公司拥有合适的架构,以帮助业务能够有效率抵御市场挑战,”

不过,联昌国际另一方面也会聘请更多员工,以帮助公司专注在能够取得增长的领域,包括中小型企业服务和交易银行业务。

再鲁阿都阿兹说:“我们的越南业务今年至少会聘请50名员工。同时,一旦获批菲律宾银行执照,公司也会在当地增加人手。”

15%投资回酬难达标

再鲁阿都阿兹指出,联昌国际在T18重组计划中,目标是后年取得15%投资回酬率,但随着印尼业务和经济发展陷入疲弱,如今要达到这个目标,显得“非常具有挑战”。

“在近几个季度,印尼业务的呆账拨备意外走高,加上资金市场将在下半年保持淡静,还有经济走软拖累消费者贷款增长率放缓,都对我们的目标造成影响。”

他表示,公司接下来会检讨年底所取得的实际投资回酬率,与该目标之间的差距。

“目前距离2018年还有2年,因此,若实际情况与目标差距太远,我们就会调整。”

截至今年3月杪,联昌国际的投资回酬率为7.9%,归咎于区域经济放缓和市场持续波动。


再鲁阿都阿兹

以印尼联昌股代息
持6.39股获送1股

联昌国际建议把印尼联昌商业银行(CIMB Niaga Bank)5.44%股权,当作特别股息派给股东。

根据文告,公司将根据每6.39股派1股的比例,派发印尼联昌商业银行的13亿6698万8057股,相等于5.44%股权。

如今,联昌国际和独资子公司PT Commerce Kapital,共同持有印尼联昌商业银行的97.94%股权。

截至周三(15日),印尼联昌商业银行的5天加权均价为15仙或504印尼盾,因此,联昌国际目前派发的特别股息,相等于每股2仙,派息规模达2亿505万令吉。

联昌国际指出,此举是为了回馈股东的支持,并帮助在印尼交易所主板上市的印尼联昌商业银行,达到7.5%公众持股率门槛。

MIDF投资研究分析员在报告中表示,这项活动已获国家银行批准,且不需寻求股东放行,预计活动将在下月底完成。

稀释1%账面价值

分析员认为,该活动完成后,联昌国际今明年的每股账面价值,会分别被稀释1%与1.1%。

“一旦完成派发这些特别股息,公司持有印尼联昌商业银行净资产的股权将被稀释,因此,我们把今明年每股账面价值,各调低至5.09令吉及5.43令吉。”

马银行投行分析员点出,联昌国际展开有关举措,会促使本身在印尼联昌商业银行的持股率,降低至92.5%,从而对资本比率造成冲击。

“预期公司的一级资本比率,将从截至去年底的10.31%,下跌至10.23%,同时,2017财年净利也会走低1.2%,因印尼联昌商业银行的贡献减少。”

冀泰国非利息收入增20%

随着经济放缓,联昌国际旗下泰国联昌国际银行将专注于非利息收入,放眼目标今年能录得20%的增长率。

泰国联昌国际银行总裁兼总执行长苏峇西瓦拉沙接受路透社访问时指出,基于泰国的信贷活动减弱,因此公司放眼今年的非利息收入,如债券承销、并购咨询和投资产品,能达到20%的增长。

“经济恐会持续低迷不振,不过我们已调整商业策略,同时你要意识到银行目前的业务不仅是贷款。”

他说,非利息收入目前占公司营业额约40%,而公司目前是泰国首两大债券承销商之一,以及在结构性产品市场有50%的市占率。

呆账上升

他指出,尽管经济放缓,不过该

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Re: CIMB CIMB
« Reply #4 on: June 17, 2016, 07:07:24 AM »



CIMB Thai looks beyond loans for growth
Posted on 17 June 2016 - 05:40am
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BANGKOK: CIMB Thai Bank Pcl is targeting 20% growth this year in fees from underwriting bonds, merger advice and investment products, in a strategic shift towards non-interest income as appetite for credit in Thailand wanes, its CEO said.

Thailand's economy is underperforming regional peers as consumers and small firms pay off debts accrued under a populist government toppled by the military in 2014. Growth is forecast at just over 3% for 2016, up from 2.8% in 2015.

"The economy will continue to be quite sluggish," CIMB Thai chief executive Subhak Siwaraksa told Reuters in an interview yesterday. "We have adjusted our business strategy. You have to recognise that as a bank now we do more than loans."

CIMB Thai Bank, a unit of Malaysia's CIMB Group Holding Bhd, is Thailand's ninth-biggest lender by assets.

Revenue generated from the non-interest side of the business accounted for about 40% of the firm's total, Subhak said.

The firm is one of Thailand's top-two bond underwriters and has about 50% of the market in structured products, he said.

CIMB Thai still expected to grow its retail loan portfolio 10% this year, and corporate loans by 10-15%, he said, even with relatively slow economic growth. The bank's bad loan portfolio should peak in 2017 at around 4%, he said, up from below 3% now.

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Re: CIMB CIMB
« Reply #5 on: June 17, 2016, 07:20:10 AM »



财经  2016年06月16日
15%股本回报率挑战大 联昌不排除降盈利目標

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(吉隆坡16日讯)除了考虑关闭一些表现不佳的业务,以减低成本,联昌国际(CIMB,1023,主板金融股)也不排除会降低盈利目標。

联昌国际首席执行员东姑拿督扎夫鲁接受《彭博社》专访时指出,该集团设下2018年杪股本回报率(ROE)达15%的目標,非常挑战。15%的ROE目標是去年推出的重组计划的一部份。

与此同时,东姑扎夫鲁也透露,该集团將在本週削减16名的区域投行人手,即8名韩国雇员、5名印度雇员和3名台湾雇员。

该集团也计划在本月裁减新加坡证券臂膀的12名后台员工,其中一半是合约员工。


东姑扎夫鲁说,「投资银行的业务向来是週期性的,我们必须密切留意资本市场的变化。」

他补充,当务之急是是確保集团在正確的结构上,允许业务有效地抵御市场因素。

在过去几个季度,联昌国际的印尼业务出乎意料地面对高水平的呆账拨备,加上经济放缓,东姑扎夫鲁预期资本市场將在下半年显得淡静,消费贷款增长也明显放缓。

针对15%的ROE目標,他重申说,「在向前迈进之际,我们將会不时做出检討(ROE目標)。到了年杪,我们会检视所取得的成绩,与设定的目標相差多远,倘若太远则需调整。」

截至今年3月,联昌国际的股本回酬率为7.9%。该集团在上个月公佈季度业绩时,已警告称区域经济將放缓,以及市场会持续波动。

隨著去年三方大合併计划告吹后,联昌国际展开了削减成本计划,关闭澳洲办公室,並在大马、印尼、香港、台湾和韩国裁员。

东姑扎夫鲁指出,在去年裁员10%后,目前集团的员工人数为4万零500名。该公司正考虑缩减一些低回报率的业务,並为有增长的业务增聘员工,所以整体员工人数可能会出现小变动。

「倘若我们继续重组,裁员是肯定的。当我们觉得一些业务无法取得足够的回报,就必须做出艰难的决定,但一些我们所专注的业务,也將增聘员工。」

印尼泰国裁员

现年42岁的东姑扎夫鲁透露,裁员预期会在印尼展开,该公司计划退出无利可图的微型贷款业务,该业务有1000名员工。同时,也不排除针对泰国业务展开裁员,该集团正在缩减泰国的营运,以专注在財富管理和投行业务。

根据《彭博社》汇编的数据显示,去年企业和投行业务占联昌国际税前收入的38%,而商业银行则占17%。

东姑扎夫鲁指出,该集团会聘请员工的业务,包括中小型企业和交易银行服务。隨著该集团分別在河內和胡志明市进行银行业务,今年在越南最少会增加50名人手。

同时,他称,联昌国际正申请菲律宾的银行执照,一旦获得批准,也需增加人手。

至于占联昌国际总贷款1/5的印尼业务,他指出,该集团较早前过于专注在短期贷款和大宗商品,但是现在已经尝试降低在这方面的投资组合风险。

「目前,我们正尝试贷款给更多的大公司和跨国公司。而印尼业务2016年的呆账拨备料比去年低,因此乐观看待公司下半年的表现。」

联昌国际股价今天跟隨大市走跌,全天下挫14仙或3.23%,至4.20令吉,是全场第15大下跌股,成交量为1390万4000股

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Re: CIMB CIMB
« Reply #6 on: June 17, 2016, 08:24:04 AM »



Downward pressure for CIMB, says AllianceDBS Research
By theedgemarkets.com / theedgemarkets.com   | June 17, 2016 : 6:20 AM MYT   
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KUALA LUMPUR (June 17): AllianceDBS Research said CIMB Group Holdings Bhd (CIMB) was under downward pressure and that CIMB had on June 16 fell below the RM4.28 support to settle at the day’s low of RM4.20 (down 14 sen or 3.22%).

In its evening edition yesterday, the research house said CIMB continued to trade below the 20-day and 50-day moving average lines in the last 3 days.

“Following the down close on June 16, the stock is likely to move lower again with immediate support seen at RM4.05.

“A fall below RM4.05 would put pressure on the stock down to the subsequent support zone, RM3.90 – RM3.95.

“The hurdle is pegged at RM4.28. A crossover of RM4.28 should see further price rise to the next overhead resistance at RM4.59,” it said.

AllianceDBS Research said stock volume traded on June 16 was 13.9 million shares compared to the 3-month average volume of 17.7 million shares.

The research house said that indicators wise, the MACD was below the 9-day moving average line with the sell signal remains intact.

It said the relative strength index indicated that the stock was currently an oversold zone

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Re: CIMB CIMB
« Reply #7 on: June 18, 2016, 10:30:54 AM »



联昌也调高基准率
银行业利息收入看涨
637点看 2016年6月17日

(吉隆坡17日讯)联昌国际(CIMB,1023,主板金融股)加入其它银行阵营,把基准率(Base Rate,简称BR)调高10个基点,分析员认为,这股新的催化剂将有助提高银行的利息收入,进而提振净利表现。


联昌国际从6月9日开始,把基准率调高10个基点,至4.1%。

此前,已有另外三家银行已经调升基准率,分别是大众银行(PBBANK,1295,主板金融股)和丰隆银行(HLBANK,5819,主板金融股)提高10个基点,以及大马银行(AMBANK,1015,主板金融股)调高20个基点。

另外三家外资银行也在过去数个月提高基准率10至20个基点。

联昌国际投行表示,在融资成本升高下,之前以为银行会提高房屋贷款的价差(spread),这只是影响新贷款的借贷利息而已。

马银行仍按兵不动

“不过,这些银行却提高基准率,进而提高目前所有浮动利率贷款的利息,这占了银行总贷款超过50%比重,利息收入增加将会直接推高净利。”

分析员表示,将把大众银行2017至2018净利提高大约2.8%,而丰隆银行则提高3.1%。

至今,马银行(MAYBANK,1155,主板金融股)仍没有任何动静,但分析员认为,随着两个最大竞争对手提高基准率,马银行也有理由在短期内调升基准率。

假设马银行调高10个基点,将促使2017至2018财年净利提高1.5%。

此外,分析员认为,数家银行提高基准率,会对贷款增长和资产素质带来少许的负面影响,因为这将会略提高借贷者每个月的分期付款。

根据计算,每调高基准率10个基点,为期10年贷款的每个月分期付款仅提高0.7%,这将轻易的就由借贷者吸纳。


银行股点评
兴业资本(RHBCAP,1066)券商首选股

在潜在重新调升投资评级催化剂下,兴业资本是分析员在银行领域的首选股。

这些催化剂包括,从执行IGNITE 17转型计划中受惠、吸引人的估值、职业过渡计划从2016财年实现后将节省成本、投资银行业务市占率增加、新加坡增长展望正面,以及较长期扩展区域市场的推动力。

马银行(MAYBANK,1155)
业务多元化

分析员喜欢马银行的规模和多元化业务,在国内,几乎所有主要市场业务名列首三名内,包括贸易融资、信用卡、投行和回教银行业务。

此外,地理上的多元化,业务拓展至有很大渗透空间的市场,如印尼和菲律宾,将有助扶持较长期的净利增长。

大马银行(AMBANK,1015)重申增持评级

分析员重申对大马银行的“增持”投资评级,因为预测每股净利增长将从2016财年的负增长25.8%,在2017财年转为5.8%增长。其他潜在的催化剂包括吸引人的估值和4%周息率。

艾芬控股(AFFIN,5185)
估值诱人

分析员仍给予艾芬控股“增持”投资评级,因为预计贷款亏损拨备将会获得改善,并提振2016财年每股净利增长。

管理层表示,在去年面对的项目融资贷款拨备,不会重现在2016年,所以信贷撤账率(Credit Charge-off rate)将从去年的44个基点,在今年显著改善至仅有20个基点。

分析员认为,该股的估值仍很诱人。


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Offline shilau

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Re: CIMB CIMB
« Reply #8 on: June 23, 2016, 05:07:24 PM »
Bought back CIMB at 4.23...... :speechless:

Be patient.......One day drop 1cent. After 423 days will become 0.01cent.... :)
It is recommended by Multi Management & Future Solutions...

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Re: CIMB CIMB
« Reply #9 on: June 23, 2016, 05:07:56 PM »
Be patient.......One day drop 1cent. After 423 days will become 0.01cent.... :)
It is recommended by Multi Management & Future Solutions...


 ;) ;) ;)

Offline shilau

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Re: CIMB CIMB
« Reply #10 on: June 23, 2016, 05:15:55 PM »

 ;) ;) ;)

this is gansoon teory use by Multi Management & Future Solutions... :D :D :D

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Re: CIMB CIMB
« Reply #11 on: June 23, 2016, 10:22:02 PM »
buy when drop below 3.90 lar  :P

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Re: CIMB CIMB
« Reply #12 on: June 28, 2016, 09:49:18 AM »



Banking Sector
Set for More Headwinds in 2H 2016
THIS REPORT IS STRICTLY FOR INTERNAL CIRCULATION ONLY*
TA Research Team Coverage Tel: +603 2167 9610 liwong@ta.com.my TA Research Team Coverage
We predicted that growth in industry loans and advances would soften to 5.8% in
2016. Total loans expanded by 6.3% YoY in April 2016, slipping from 7.9% in 2015
and 8.8% a year ago. Softer demand for loans along with stringent credit policies
have resulted in a steep decline in consumer loans. Based on our 2016 consumer
loans projections of 4.8%, we foresee more easing in the 2H16. Forming softer peaks,
YTD SME and business loans have been contracting for four straight months since
January 2016. Stymied by macro headwinds and uncertainties, business activities are
also expected to remain weak.
Average NIM had already fallen by 6 bps YoY in 1Q2016. We believe competition for
deposits will be ongoing but the compression would be limited. Our view is premised
on: 1) ample liquidity in the system, 2) softer loan growth which would then require
less deposits to fund, and 3) potential upward adjustment in base rates on the back of
rising credit and liquidity risks. We believe BNM will maintain SRR and OPR in 2016
BNM’s monthly statistics suggests that asset quality in the system remains intact.
Echoing BNM, management of banking groups under our coverage believe that
overall asset quality continues to be resilient despite expectations that the weak
macro backdrop and concerns over rising unemployment would ignite a
deterioration. We predict the sector’s loan loss coverage to decrease and the gross
impaired loans ratio to increase slightly to 1.7% - 1.8%.
Proactive cost management efforts by various banking groups have helped give some
buffer to weak earnings. In the 2H, savings from personnel costs due to retrenchment
drives undertaken by CIMB, RHB Cap and HLBB 2015 will flow through to earnings.
Efforts to keep operating expenses lean may not, however, translate to lower cost-toincome
ratio as topline growth remains frail, going forward.
Post Brexit and recent reduction in weightage on Malaysian stocks by the MSCI,
banking stocks have led declines in the KLCI. Going forward, the lack of growth
catalysts coupled with potential asset quality risks could continue to dampen the
overall performance of the sector, in our view. Although average prices have picked
up in the past 3-6 months, all the banking stocks under our coverage – except for
Public Bank and Alliance, have consistently outperformed the KLCI in the past 12
months.
Riddled with macro uncertainties, impact from BREXIT, contagion effect from a China
slowdown and domestic economic headwinds, banks cited inflationary pressures,
weak commodity prices as well as the depreciation of the MYR as additional
dampeners to consumer and business sentiments. Despite industry players guiding
for more modest 2016 KPI targets, we foresee possible downside risks to earnings as
headwinds gather momentum, coupled with potential deterioration in asset quality
as credit cycle turns with growing NPLs.
We maintain our NEUTRAL recommendation on the banking sector. Current stock
recommendations are, BUY CIMB. HOLD Maybank, Public Bank, HLBB, RHB Cap,
AMMB and Affin. SELL AFG.
Loan growth easing in tandem with forecast

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Re: CIMB CIMB
« Reply #13 on: August 29, 2016, 03:08:54 PM »



联昌国际次季净利扬36.4%
宣布派息8仙
205点看 2016年8月29日

(吉隆坡29日讯)联昌国际(CIMB,1023,主板金融股)截至6月30日次季,净利扬36.4%,写8亿7282万6000令吉;宣布派息8仙。


同期营业额涨1.8%,报39亿307万1000令吉。

累计上半年,净利涨38.3%,达16亿8663万令吉;营业额增长1.5%,报76亿2838万9000令吉。

根据文告,该银行的上半年每股净利企于19.6仙,而投资回酬率(ROE),则达8.1%。


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Re: CIMB CIMB
« Reply #14 on: August 30, 2016, 10:06:49 AM »



The worst could be over for CIMB Group
By Billy Toh / The Edge Financial Daily   | August 30, 2016 : 9:52 AM MYT   
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This article first appeared in The Edge Financial Daily, on August 30, 2016.

 

KUALA LUMPUR: The worst could be over for CIMB Group Holdings Bhd as indicated by some signs of recovery in its Indonesian operation, plus the group’s sustained cost management initiatives to bring down operating costs.

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For the second quarter of the financial year ended June 30, 2016 (2QFY16), CIMB Group achieved a 36.4% growth in net profit to RM872.83 million from RM639.75 million a year ago. Quarterly revenue was marginally higher at RM3.9 billion against RM3.83 billion a year ago.

Speaking at the media briefing on CIMB Group’s half-year (1HFY16) financial results, its group chief executive officer Tengku Datuk Seri Zafrul Aziz pointed out that the group’s higher profit before tax (PBT) of RM2.31 billion for 1HFY16 was underpinned by a 241.2% year-on-year improvement in Indonesia and sustained cost management initiatives.

“Lower provisions in Indonesia improved 1HFY16 loan loss charges slightly to 71 basis points,” he added.

“We remain upbeat on CIMB Niaga’s performance, although the local operating environment may continue to be challenging. CIMB Malaysia and CIMB Singapore’s performance is expected to be subdued in line with the slower economic environment in both countries. CIMB Thai will continue to focus on asset quality and operational reorganisation,” Zafrul said.

Despite the improved earnings, Zafrul revealed that the group’s initial loan growth target of 10% had been revised lower to the range of 6% to 7%, while the return of equity target had also been lowered to 9% from its initial target of 10%.

The latest quarterly financial numbers also showed improvement in CIMB Group’s cost-to-income ratio (CIR), which is among the highest in the industry. Its CIR improved to 55.4% in 1HFY16, from 56.7% a year ago and 57.9% in 1HFY14.

“We are cautious about balance sheet growth, given the continued volatility and uncertainty in the external economic environment. Internally, our T18 (Target 2018) projects on improving risk management, asset quality and cost management are showing encouraging results, part of which are already reflected in our financial numbers.

“I think the worst is over. Asset quality seems to be stable. The story with Indonesia is also in the past, based on the latest results,” Kenanga Research analyst Ahmad Ramzani Ramli commented.

For 1HFY16, PBT contribution from Indonesia was RM331 million, translating into about 14.3% of the group’s PBT of RM2.31 billion for 1HFY16. This was a huge increment from a year ago, when Indonesia’s PBT of RM93 million was only about 5.45% of the group’s PBT of RM1.71 billion in 1HFY15.

Kevin Kwek, an analyst with Sanford C Bernstein in Singapore, said that in the last 18 months, the results were quite encouraging with the CIR showing a rather decent level of improvement.

He, however, noted that while business in Indonesia is seeing the light at the end of the tunnel, the PBT contribution level is still far from the level it was at back in 1HFY14, when it contributed 27.3% of the group’s PBT.

“I think it is still early to talk about the worst coming to pass given the recent gross domestic product growth in Malaysia, which was not so encouraging, especially since the bulk of the group’s numbers comes from Malaysia. Regionally, there is also [a] lack of growth and opportunities.

“Thailand is only midway in its restructuring, Singapore is also experiencing a slow growth,” Kwek added.

Affin Hwang Investment Bank analyst Loh Jia Ying concurred that things are unlikely to deteriorate at CIMB Group, but noted that growth will be gradual, in line with management’s guidance

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Re: CIMB CIMB
« Reply #15 on: October 23, 2016, 03:29:06 PM »



Saturday, 22 October 2016
CIMB banking on China Galaxy
BY JAGDEV SINDH SIDHUandAND GURMEET KAUR







 Zafrul: ‘The market in the last two years has not been good and the proposed tie-up will help cushion us.’
Zafrul: ‘The market in the last two years has not been good and the proposed tie-up will help cushion us.’
 
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Tengku Datuk Seri Zafrul Aziz, an avid golfer, has not played a game of golf for the past nine months. The head honcho of the country’s second-largest lender, CIMB Group Holdings Bhd, blames this on his hectic schedule.

Tengku Zafrul has been at TPC Kuala Lumpur since 6.30am seeing through the last-minute touches where the prestigious CIMB Classic is to be held for a three-day period until Oct 23. Later in the day, he would start welcoming clients of the bank to have a round of golf with some professionals of the game.

The tournament, one of the region’s largest golfing events, costs money but is part of CIMB’s branding initiative and important for its domestic business, as it commands 40% of the banking accounts in the country.

This sizeable number of accounts gives the regional banking group a certain degree of comfort.

However, there are undercurrents that would prove to be a challenge in its effort to grow income due to a weaker economy and changing banking landscape.

One of the initiatives to help it deal with its business and cost was the tie-up with China Galaxy Securities Co Ltd.

Tengku Zafrul was in Beijing for 10 days for that before hitting the links at TPC Kuala Lumpur, where the StarBizWeek team caught up with him.

The working trip to Beijing was important to CIMB, which has been trying to figure out a way to lower its cost from its stockbroking operations where the cost-to-income ratio (CIR) was 90% as opposed to the mid-50% range for the rest of the group.

Furthermore, conditions in the capital market for CIMB in South-East Asia have not been to its preference of late.

CIMB has a big stockbroking operation in this part of the world but has seen that side of the business flatline in recent times.

Singapore has not had an initial public offering (IPO) over the past two years, while IPOs in Malaysia have shrunk in size and numbers.

But the link with China Galaxy, on a 50:50 joint-venture (JV) basis, will help to fix some of this.

China Galaxy, a securities firm in China, has more trading activity than Hong Kong, Japan and Taiwan added together, and the almost online securities company should help CIMB market placements from its clients in South-East Asia to the markets of China and Hong Kong.

Cost rationalisation has been an integral part of CIMB’s Target 2018 (T18) initiatives that was unveiled by Tengku Zafrul early last year.

Since then, it has been undertaking various cost-management initiatives and ways to unlock value at the lender that is 29.7%-owned by Khazanah Nasional Bhd.

Under T18, the group is targeting to bring down CIR to less than 50% by 2018.

In 2015, its CIR stood at 59%, which was amongst one of the highest in the industry then. This year, it hopes to lower the ratio to 53%.

“The market in the last two years has not been good and the proposed tie-up will help cushion us.

“The stockbroking business is getting tough. The lacklustre equities market coupled with the adoption of technology is driving down trading commissions. Even some of our institutional clients have or are migrating to online trading,” says Tengku Zafrul.

The CIMB-China Galaxy JV is expected to reduce the former’s CIR by two percentage points, but this is only expected to be fully felt from 2018 onwards, noted reports that have come out following the announcement.

The process of completing the deal is expected to eat into much of next year, given the necessary regulatory approvals needed to be secured for the various countries,

According to Tengku Zafrul, the final details of the deal are being ironed out and it hopes to firm up on the structure within three months.

While the deal would boost the bank’s capital ratio, the increase is expected to be small, as the cash equities business is not capital-intensive, say analysts.

It is often thought that bank-backed stockbrokers tend to be in a better position to weather a downturn. But it would seem that they have not been spared.

In 2015, CIMB’s broking business incurred losses of RM20mil-RM30mil with an income of RM450mil.

Meanwhile, its cost of running the business is estimated at RM600mil to RM700mil, notes RHB Research in a report.

Stiff competition is pushing banks to divest their stockbroking business.

Interestingly, China Galaxy is a merger of four banks divesting their stockbroking arms.

Locally, Hwang Capital (M) Bhd and OSK Holdings Bhd divested their stockbroking arms, but these entities were not bank-backed.

Consolidation among local brokers was done at price-to-book value multiples of between 1.1 and 1.9 times.

However, the idea of divesting wholly was never on the table for CIMB, which sees value in Asean equities.

“We will continue to maintain our strength as a top-three broker in Asean ... but margins are squeezed and trading flat.

“While Malaysia is flat and the Singapore market shrinking, Indonesia is showing signs of picking up following more positive business sentiment from two years ago.”

Tengku Zafrul describes the venture with the Beijing-based company as a “natural fit”.

It was also looking for strategic investors who could bring value to its franchise and support the group’s investment banking and capital market businesses.

Considering that China Galaxy does not have a presence in this part of the region, there will be less overlap except for perhaps Hong Kong.

CIMB could leverage on China Galaxy’s network to distribute an IPO or placement exercise to North Asia and vice versa.

It is reported that China Galaxy is ranked amongst the industry’s top-five in terms of brokerage revenue generated.

The company, which is listed on the Hong Kong bourse, conducts almost all of its trade online.

Notably, China Galaxy is not an unfamiliar party to CIMB.

In 2013, Khazanah emerged as a cornerstone investor in the pre-IPO of China Galaxy, reportedly investing US$100mil worth of shares. The sovereign fund later sold out at a profit. CIMB was also one of the advisers to that IPO.

CIMB’s latest venture adds on to recent deals aimed at unlocking value.

In June, it entered into a 15-year tie-up with Japan’s largest bancassurance player Sompo Japan Nipponkoa Holdings Inc.

Under this profit-sharing deal, which is expected to see a revenue uplift of RM1bil in the first five years, CIMB will sell and distribute Sompo’s non-life insurance products across the markets of Malaysia, Indonesia, Thailand and Singapore.

The group’s initiatives to contain costs seem to be bearing fruit, with CIR down to 55.4% in the first half of financial year 2016.

It is also on target to achieve a common equity Tier-1 (CET1) capital ratio of 11% in 2016 two years ahead of its 2018 goal.

The challenge Tengku Zafrul sees going forward is growing the group’s topline.

Nevertheless, its transformation has attracted investor interest.

CIMB’s share price has risen 11.85% from the start of the year, making it the best-performing stock amongst its peers year-to-date.

Based on yesterday’s price of RM5.04, the stock is trading at a price-to-book multiple of 1.03 times

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Re: CIMB CIMB
« Reply #16 on: November 17, 2016, 07:01:59 AM »



CIMB’s Q3 net profit 27% higher
Posted on 17 November 2016 - 05:39am
sunbiz@thesundaily.com
Print
PETALING JAYA: CIMB Group Holdings Bhd’s net profit for the third quarter ended Sept 30, 2016 rose 27.3% to RM1.02 billion from RM803.89 million a year ago on higher non-interest income and a RM150 million gain from the sale of its 51% interest in PT CIMB Sun Life.

CIMB’s revenue increased 7.4% to RM4.12 billion from RM3.84 billion in the third quarter last year.

“On consumer banking, we will accelerate our digital proposition across the region and focus on recalibration in Thailand. On commercial banking, we will sustain the momentum in Malaysia and Indonesia, whilst focusing on asset quality in Thailand. We expect better loans growth in corporate banking and, subject to market conditions, steady improvement in the capital markets business.

“As we approach the halfway mark of our T18 Strategy, we will fine-tune our programmes where necessary, to ensure a sustainable growth trajectory across all businesses within the group.

“We are also excited about Vietnam, where we have been granted a full banking licence and will begin operations in December 2016. With a stronger foundation in place, we are now in a better position to advance our Asean franchise,” said CIMB Group chief executive Tengku Datuk Seri Zafrul Aziz Tengku Abdul Aziz.

For the nine months period, CIMB’s net profit jumped 34% to RM2.71 billion from RM2.02 billion a year ago, while revenue increased 3.5% to RM11.75 billion compared with RM11.35 billion last year.

The group saw a 3.5% expansion in nine-month operating income with well-contained operating expenses, bringing about a 5.8% year-on-year improvement in the net profit of RM2.71 billion compared with the business-as-usual nine-month 2015 net profit of RM2.56 million.

“We saw strong 3Q16 performance in consumer banking for Malaysia, Indonesia and Thailand. Across the group, consistent efforts in managing cost resulted in an improvement in our cost-to-income ratio to 53.2% in 3Q16. Our capital position is strengthening and we remain on track to achieve our 11% CET1 (common equity tier 1) target for 2016,” said Tengku Zafrul.

Nine-month 2016 net earnings per share stood at 31.4 sen, while the annualised net return for the period on average equity was 8.5%

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Re: CIMB CIMB
« Reply #17 on: November 18, 2016, 06:43:04 AM »



Thursday, 17 November 2016 | MYT 3:57 PM
CIMB Bank eyes 7% loan growth in 2017






 
 
KUALA LUMPUR: CIMB Bank Bhd is cautiously optimistic of maintaining its loan growth for the consumer banking segment at seven per cent in 2017, a similar growth rate for this year.

Chief executive officer of group consumer banking, Samir Gupta, said despite the market challenges this year, consumer banking loans have grown by 7% this year.

There has been growth in the mortgages and cards segments this year and the bank would continue to look for growth opportunities to withstand ongoing headwinds, he said.

“Market challenges have been the norm for the past few years and we do not think it is going to change. A new angle would always come along sooner or later.

“On our side, we would always make sure we factor in this kind of periodic challenges that come along,” he told reporters after launching CIMB Bank and Sun Life Malaysia’s latest insurance savings plan with wealth protection, the Sun Wealth.

He said the bank is satisfied with the growth this year and also hopes the market would turn around next year in order to grow faster.

Gupta said the group’s consumer banking has not been affected by the fluctuations of the ringgit so far.

He said the ringgit has depreciated even from 2014, but this has not affected the systems and the bank would remain cautious on currency developments.

“So far on the banks portfolio such as the cards, mortgages and automotive loans, there is nothing to be concerned about,” he added. - Bernama

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Re: CIMB CIMB
« Reply #18 on: November 18, 2016, 08:10:25 AM »



财经  2016年11月17日
2大不利夹击 联昌短期前景谨慎

(吉隆坡17日讯)联昌国际(CIMB,1023,主板金融股)週三公布2016財政年第3季(9月结帐)业绩,大致上符合各家投行的预期,惟在国內外环境充满不確定因素,以及经济成长缓慢的情况下,大部份投行对该集团的短期前景均保持谨慎。

最新业绩出炉后,联昌国际週四大热走跌,全天下跌9仙或1.88%,以4.70令吉掛收,全天成交量为2498万7100股,是全场第7大热门股和第14大下跌股。

肯纳格投行分析员指出,出售印尼永明人寿保险(PT Sun Life)业务,在第3季为联昌国际带来一笔1亿4980万令吉的收入,把集团今年首9个月的净利按年推高33.9%,至27亿零981万令吉。

同时,联昌国际今年首9个月的营运支出在激进的成本控制措施下,降低9%,但集团同期总收入只按年微涨2.2%,使到成本对收入比率(CIR)按年下降7个百分点,至55.3%。


由於资金成本增长速度超越贷款收入的增长,联昌国际今年首9个月的净利息赚幅(NIM),降低至2.56%。

受印尼业务拖累

艾芬黄氏资本分析员则认为,联昌国际印尼业务的高额拨备水平,是拖累该集团业绩的关键因素。

「同时,联昌国际旗下资產素质依然稳健,因此,其信用成本应会在来年逐渐下降。」

分析员也指出,联昌国际欲每年省下5亿令吉的营运成本控制策略,要到2017年才会有更显著的效应。

艾芬黄氏资本分析员称,相比联昌国际,资產素质佳、在零售银行业扎下稳健根基的大眾银行(PBBANK,1295,主板金融股),是目前更佳的投资对象。

不过,MIDF研究分析员却认为,联昌国际在过去的9个月写下良好的业绩表现。

贷款成长加速

「联昌国际第3季的核心净利按年成长13.4%,至10亿2000万令吉,表现强劲,其今年首9个月的拨备前盈利(PPOP),在较低营运支出和不俗的净利息收入及净非利息收入成长支撑下,更是按年大涨23.5%,至53亿3000万令吉,显示该集团在营运上比去年同期更好。」

同时,该分析员称,联昌国际第3季在大马市场的贷款成长加速,相比第2季的7.7%按年成长率,按季提高0.5个百分点,至8.2%,是个意外之喜。

在大马贷款和总体存款业务的成长激励下,分析员相信,这將为联昌国际提供更多的流动资金,以在经济大环境改善时,推动其贷款成长。

大马仍是联昌国际的最大市场,在今年首9个月为该集团贡献了75%的税前净利,其次是同期税前净利贡献提高至15%的印尼市场,而新加坡和泰国市场的贡献则分別下滑至5%和4%。

肯纳格投行分析员指出,「儘管大马市场开始出现缓慢復甦的跡象,但印尼和泰国市场预计会继续低迷;展望2017財政年,大马和印尼市场有望在两国的货幣宽鬆政策,以及政府税务特赦计划的推动下,从大量基建工程开销中受惠。」

MIDF研究继续看好联昌国际前景,维持其「买入」评级,同时把目標价从5.50令吉,上调至5.90令吉。

不为联昌国际近期业绩所动的肯纳格投行,保持其「与大市同步」评级,並维持目標价在5.27令吉。

艾芬黄氏资本亦维持联昌国际「守住」评级,及5令吉的目標价

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Re: CIMB CIMB
« Reply #19 on: November 18, 2016, 08:31:13 AM »
 :nod: :nod:  :nod:
malimalimaliongongongnotongchefbutishua thuatong

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Re: CIMB CIMB
« Reply #20 on: November 18, 2016, 02:40:41 PM »
Wait till 4.30  :P

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Re: CIMB CIMB
« Reply #21 on: December 02, 2016, 08:47:58 PM »

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Re: CIMB CIMB
« Reply #22 on: December 09, 2016, 04:06:10 PM »



财经
營運環境變負面 納西爾:銀行朝向削減成本模式
 1135点阅   2016年12月09日
20161210fb20a

20161210fb20b



報導:葉愛雲

首相胞弟兼國內第二大銀行集團聯昌集團(CIMB,1023,主要板金融)主席拿督斯里納西爾說,整體營運環境變得負面,連銀行業也要“省省過日子”,朝向採“削減成本模式”(Cost Cutting Mode)。

但他強調,所謂的節約成本,不一定就是裁員。

納西爾是在河內(Hanoi)出席彭博東協企業高峰會,接受彭博電視訪問時指出:“聯昌集團很早就開始(削減成本模式)了,並已做了許多事情,而銀行領域是一個極度充滿變數(extremely dynamic)的行業,當整體營運環境變得負面的時候,你就必須採取所有必要的措施來應對。”

“當營業額展望已反映出有限度時,我想我們就要節省成本,但節約成本不一定就是減少雇員,,因為當中仍然有許多的方式,例如採購過程。我們(聯昌集團)在18個月中,職員人數從4.4萬人減至3.9萬人,已是一個重大的成就。”

■令吉貶得太過火

另外,納四爾也認為,令吉近期的貶勢已經“太過火”(overdone),一旦市場對國家銀行外匯行政措施的紛擾結束后,相信令吉會重返其應有的基本價值。

令吉在過去一個月貶值的5%,是亞洲新興市場表現最差的貨幣。

另外,針對主持人指,就股本來看,聯昌集團目前已從第3位跌至第5位,在伊斯蘭債券市場中也輸給了其他競爭對手,納西爾指:“請別企圖以短期的所謂競賽排行榜來問我,我已經放棄很久了,別嘗試對我這麼做。”

“就市佔來說,在所有的環節(segment)中,我其實覺得我們都處在舒適的位置上;好吧,我們確實在伊斯蘭債券市場中已佔據第一位有7、8年了,而我也跟下屬說過,或許有一天或有一年我們並不再是第一名。”

■銀行業面臨完美風暴

“不管理由是什麼,或許有競爭對手取得大規模的債券發行計劃,其他的市場很小,我們不再是第一等等,我都請我的下屬不要哭泣,因為最重要的是和客戶長期站在一起。”
另外,針對銀行領域目前所面對最大的風險,他說,銀行領域目前正面臨完美風暴(perfect storm),主要來自科技、加強監管及低迷的營運環境等。

“即便風暴過后,水面也不會馬上就恢復平靜,水中仍然是波濤洶湧的,因為整個結構已經改變,而我們也需要應付金融科技(FinTech)的來襲,但最大的挑戰還是監管上的改變。”

“監管單位應該了解,當條例一直在改變的時候,事情往往會朝不同的方向搖晃,因為過度的監管或導致當中產生長期的成本,進而影響銀行的表現

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Re: CIMB CIMB
« Reply #23 on: January 04, 2017, 06:53:52 AM »



‘Buy’ call on CIMB stays: AmInvestment
Posted on 4 January 2017 - 05:39am
sunbiz@thesundaily.com
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PETALING JAYA: AmInvestment Bank is maintaining its “buy” call on CIMB Group Holdings Bhd, following the group’s recent announcement to dispose of an 18.21% stake in Bank of Yingkou (BYK) to Shanghai Guozhijie Investment Development Co Ltd for RM972 million.

“Our ‘buy’ call is premised on attractive valuation with the share price continuing to trade at 0.8 times to our FY17 book value/share, stabilisation of provisions in Indonesia as well as potential further improvements to opex (operating expenditure) from group wide cost savings initiatives,” its analyst Kelvin Ong said in a report yesterday.

It has an unchanged fair value of RM5.40 per share based on FY17 return on equity of 9.2% leading to a price-to-book value of one time for CIMB Group.

The disposal consideration was determined based on one time price-to-book ratio of BYK and will be settled by cash. BYK is an associate company of CIMB Group.

Ong said the disposal is in line with meeting the group’s T18 targets which includes CET1 ratio of more than 11%, and to achieve higher capital efficiency and optimisation.

“Based on 9MFY16, the share of profit from BYK was RM93 million (RM124 million on annualised basis). This represents circa 3.4% of our estimate for CIMB Group’s net profit for FY16,” he said.

The group completed the acquisition of 19.99% stake in BYK in April 2009, for RMB348.8 million in cash. “Based on our estimates, the one-off gain is expected to be about RM760 million,” Ong said.

In addition to the disposal agreement, Ong said the group has also inked a long term collaboration agreement with BYK, where both entities will continue collaborating in areas of staff exchange, product development, training and sharing of market intelligence.

The disposal is expected to be completed in 2017 and is not expected to have any impact on CIMB Group’s 2016 earnings.

"In any case, we will treat gains from the disposal of the stake in BYK as one-off and this will be excluded from our core earnings estimate for FY17."

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Re: CIMB CIMB
« Reply #24 on: January 11, 2017, 08:20:09 AM »



Immediate resistance for CIMB at RM4.80, says AllianceDBS Research
By theedgemarkets.com / theedgemarkets.com   | January 11, 2017 : 5:46 AM MYT   
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KUALA LUMPUR (Jan 11): AllianceDBS Research said the immediate resistance for CIMB Group Holdings Bhd (CIMB) was at RM4.80 and that CIMB had on Jan 10 traded higher to settle at the day’s high of RM4.80 (up 4 sen or 0.84%).

In its evening edition yesterday, the research house said CIMB continued to trade above the 20-day and 50-day moving average lines in the last 3 market days.

“Following the up close on Jan 10, the stock is likely to move higher again with immediate hurdle at RM4.80.

“A crossover of RM4.80 should see further price rise to the next overhead resistance zone, RM5.00 – RM5.10.

“The support is pegged at RM4.70. A fall below RM4.70 would put pressure on the stock down to the subsequent support at RM4.60,” it said.

AllianceDBS Research said stock volume traded on Jan 10 was 15.8 million shares compared to the 3-month average volume of 13.3 million shares.

The research house said that indicators wise, the MACD was above the 9-day moving average line with the buy signal remains intact.

It said the relative strength index indicated that the stock was currently in an overbought zone.

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Re: CIMB CIMB
« Reply #25 on: January 18, 2017, 08:41:44 AM »



2017-01-17 17:09
资产素质改善.联昌展望恢复稳定
分析员普遍认为,与2014至2016年的波动比较,联昌集团(CIMB,1023,主板金融组)现财政年业务展望可望恢复稳定,而资产素质也正逐步改善。
(吉隆坡17日讯)分析员普遍认为,与2014至2016年的波动比较,联昌集团(CIMB,1023,主板金融组)现财政年业务展望可望恢复稳定,而资产素质也正逐步改善。

广告

今明年减值贷款拨备
不太可能大幅减少

联昌集团管理层在分析员汇报会上重申,2016年减值贷款拨备可能提高,至于2017和2018年则料保持在现有水平,不太可能大幅减少。截至2016年9月,联昌集团的减值贷款拨备增加10.5%,至17亿5000万令吉。

管理层表示,未见资产质量在2017至2018年显著退跌的迹象;贷款成本方面,则估计2016年介于70基点。

艾芬黄氏研究指出,联昌集团管理层暗示,短期内的不足可能通过转移保留盈利到监管储备加以弥补,银行的资产负债可能因为准备金水平偏高。

该行说,50%成本对收入比依然是联昌集团的长期目标。截至2016年首9个月,成本对收入比率介于54.6%,2015年首9个月的水平为56.2%。

该行补充,与中国银河证券的合作,料有助于联昌集团降低营运开销,估计每年减少6亿令吉至7亿令吉。



云顶新赌场首季开张

广告

“以我们看,预期2016至2017年估计盈利复苏已反映在股价走势,虽然我们认为营运成本节省(每年5亿令吉)将在2017年比较明显,信贷成本将逐渐减少,资产质量保持完好,下跌风险主要包括采纳IFRS9会计标准,上扬风险则是显著的成本节省。”

丰隆研究指出,虽然盈利改善令人鼓舞,但仍谨慎看待其短期展望,毕竟联昌集团的新加坡和印尼市场皆存有疲弱迹象,特别是油气业贷款更为让人担忧。

安联星展研究则看好联昌集团2017年表现将胜过2016年,并预期贷款成长可能从2016年第四季开始改善。



文章来源:
星洲日报‧财经‧报道:郑碧娥‧2017.01.17

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Re: CIMB CIMB
« Reply #26 on: February 28, 2017, 02:17:57 PM »



Flash
CIMB 4Q net profit up 3% on year at RM854m
By theedgemarkets.com / theedgemarkets.com   | February 28, 2017 : 1:04 PM MYT   
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Flash - CIMB 4Q net profit up 3% on year at RM854m

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Re: CIMB CIMB
« Reply #27 on: February 28, 2017, 02:20:51 PM »
CIMB yearly eps up from 33 sen to 41 sen.

DIV up from 14 sen to 20 sen.

Very good !

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Re: CIMB CIMB
« Reply #28 on: March 01, 2017, 07:05:50 AM »



CIMB optimistic on FY17, expects stable loan growth
Posted on 1 March 2017 - 05:40am
Ee Ann Nee
sunbiz@thesundaily.com
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KUALA LUMPUR: CIMB Group Holdings Bhd, which posted a record net profit and revenue for the financial year ended Dec 31, 2016 (FY16), is optimistic on FY17 on the back of sustainable loan growth, continued cost controls and expected improvement in provisions.

Group chief executive Tengku Datuk Seri Zafrul Aziz said it expects a loan growth of 6%-7% this year, similar to last year’s. Loan growth grew 8.7% last year on the back of Malaysia loans expanding 10.5% year-on-year in FY16. Stripping away the foreign exchange (FX) effect, CIMB’s loan growth was 6.4% in FY16.

“This year we expect the ringgit to stabilise so there won’t be any FX effect on loan growth. It will be relatively flat year-on-year,” he said at a press conference after announcing its FY16 financial results here yesterday.

Zafrul said the loan growth for CIMB’s Malaysian business grew ahead of the industry’s in FY16 and it should continue to be in the region of 10% for Malaysia this year, being in a positive correlation with economic growth.

CIMB will continue to instill cost discipline across all businesses to achieve its T18 target cost-to-income ratio (CIR) of 50% by end-2018. It is targeting a CIR of below 53% in FY17, after CIR improved to 53.9% in FY16 compared with 55.6% in FY15, in line with the improved revenues and strict cost control measures.

“As long as we continue to grow income faster than cost year-on-year, and we’ve seen that through consecutive years of positive jaws, you’ll see continued improvement in CIR,” he said, adding that it is investing more on digital banking to improve CIR as it improves productivity.

CIMB expects its net interest margin (NIM) to compress by 10bps this year, mostly due to its Indonesian business. CIMB’s NIM was marginally lower at 2.63% for FY16 mainly driven by higher cost of deposits in Malaysia. It is also targeting a return on equity of 9.5% for FY17.

Zafrul said the bank was tempered by higher provisions in Singapore and Thailand last year. He said Singapore was impacted by the oil and gas sector, while Thailand was impacted by the rice sector.

“We expect provisions in Thailand and Singapore to be lower than FY16,” said Zafrul, adding that Indonesia’s profitability had grew 500% mainly because of lower provisions.

Meanwhile, Zafrul updated that CIMB is finalising negotiations with China Galaxy Securities Co Ltd on its 50:50 joint-venture stockbroking business, which is expected to complete by April.

CIMB saw its Q4 net profit rise 4.7% to RM854.39 million in the fourth quarter ended Dec 31, 2016, from RM825.74 million a year ago from improved net interest income. Its revenue jumped 6.7% to RM4.31 billion compared with RM4.04 billion in the previous year’s corresponding quarter.

For the full year FY16, its net profit surged 25% to RM3.56 billion from RM2.85 billion in FY15, driven by continued momentum in the consumer franchise. Revenue rose 4.3% to RM16.07 billion compared with RM15.40 billion in FY15

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Re: CIMB CIMB
« Reply #29 on: March 01, 2017, 08:05:45 PM »



Wednesday, 1 March 2017
Double-digit loan growth for CIMB, outperforms industry 6% average
BY DANIEL KHOO

image: http://www.thestar.com.my/~/media/online/2017/02/28/18/45/p1_bizd_pg1_march1_ky_1.ashx/?w=620&h=413&crop=1&hash=18E3BE57C6F0192A881480484D061EA8C7E2B53F
Record revenue: Tengku Zafrul ( left) and CIMB Group chief financial officer Shahnaz Jammal posing with the financial results at the event. Tengku Zafrul says the revenue performance for FY16 is the best in the history of CIMB despite a trying business environment last year.
Record revenue: Tengku Zafrul ( left) and CIMB Group chief financial officer Shahnaz Jammal posing with the financial results at the event. Tengku Zafrul says the revenue performance for FY16 is the best in the history of CIMB despite a trying business environment last year.
 
KUALA LUMPUR: CIMB Group Holdings Bhd saw its loan growth in Malaysia outperforming the industry average amid a year of record revenue for its financial year ended Dec 31, 2016.

“I am quite surprised at our loan growth in Malaysia. For our consumer segment to grow by close to 10% is considered a lot.

“It is still too early to tell whether it is a sign of recovery for the industry. Industry loan growth was at the mid-single-digit level in 2016 of around 5%-6%,” CIMB group chief executive Tengku Datuk Seri Zafrul Aziz told a press conference to announce its financial results here yesterday.

“There has been a mixture of reasons for this growth, as we have been more aggressive in our product offerings, and in credit cards, we also grew quite a lot.

“This is because of the way we use big data and digital banking as a platform to acquire customers. This helped the growth of our business, especially for the consumer business,” he added.

CIMB’s Malaysian loan growth grew by 10.5%. This performance was the highest compared with other countries in which CIMB has banking operations.

“I must commend the team for achieving this feat. The growth was driven by all three key sectors: consumer banking, wholesale and commercial. The segments grew by double-digits. Mortgages grew by 11.5%. The Malaysian consumer has always been steady,” Tengku Zafrul said.

As a group, CIMB recorded loan growth of 8.7% in FY16, while the loan growth target for FY17 is 7%.

For last year, CIMB saw its revenue coming in at a record RM16.07bil from RM15.39bil in the previous year, with net profit at RM3.56bil from RM2.85bil in FY15.

For its fourth-quarter performance, the third-largest banking group by asset size in Malaysia saw profit growing by 3.47% to RM854.39mil on the back of 6.68% higher revenue to RM4.31bil.

“Our revenue performance for FY16 is the best in the history of CIMB despite a trying business environment last year. Across the group, our overhead expenses increased by only 1% year-on-year (y-o-y), contributing to an encouraging cost-to-income (CTI) ratio,” Tengku Zafrul said.

The bank’s CTI ratio improved to 53.9% in FY16, dropping from 55.6% in the previous year. It was 51.7% in the fourth quarter of last year.

“We are on track for our T18 targets. We see the CTI ratio dropping to below 53% in FY17. If we can achieve 51.7% in the fourth quarter, we should be able to be around that region or better for the year,” he said.

Notable mentions included the consumer division in CIMB’s Thailand banking operations which recorded a turnaround.

“Ever since we acquired Thailand seven years ago, our consumer business has not recorded a profit, and last year was the first year we made a profit. So, there is a good turnaround story for our consumer business in Thailand.

“We have relooked our business proposition there by focusing on the affluent market and leveraging on technology for the mass market. We invest more in digital technology and partnerships with telcos like AIS and 7-Eleven.

“While we took a big hit in the fourth quarter in terms of provisions in Thailand, we expect this year to be better. Although Thailand is less than 5% of our group, it still has an impact when it comes to provisions,” he said.

Provisions in Thailand and Singapore had affected CIMB’s commercial banking performance in FY16.

While CIMB’s regional commercial banking revenues grew with costs staying relatively flat, its pre-tax profit for this cumulative segment was 55.3% lower y-o-y at RM283mil due to higher provisions in Thailand and Singapore.

Commenting on these provisions, Tengku Zafrul said that they were caused by the oil and gas (O&G) sector.

“The O&G companies in Singapore were really affected by the slowdown, but our O&G exposure for the whole group is 2.8% of total assets, and in Singapore, it is only 0.4% of total assets,” he pointed out.

“Most of the issues that we were concerned about in Singapore on our exposure were in FY16. It should be better in FY17. The business in Thailand was affected by the rice sector. We didn’t expect it to be bad but we took the provisions,” Tengku Zafrul added.

For its Indonesian segment, he said profitability had improved some 500%, driven by better revenue, cost controls and lower provisions.

“We expect FY17 to be a better year for Indonesia, as provisions are expected to be lower than FY16,” he said.

On its tie-up with China Galaxy Securities Co Ltd, Tengku Zafrul said the bank expected this to be completed by this month or in April


Read more at http://www.thestar.com.my/business/business-news/2017/03/01/doubledigit-loan-growth-for-cimb/#C3ihRupVk9i6vYRI.99

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Re: CIMB CIMB
« Reply #30 on: March 01, 2017, 08:32:16 PM »



2017-03-01 18:07
盈利超标.前景谨慎.联昌展望分歧
联昌集团业绩改善,并未能讨得所有分析员欢心,以致分析员对该公司前景看法分歧。
 

广告

(吉隆坡1日讯)联昌集团(CIMB,1023,主板金融组)业绩改善,并未能讨得所有分析员欢心,以致分析员对该公司前景看法分歧。

净利改善提振联昌集团股价,今日闭市涨12仙,报5令吉零9仙。

该公司第四季营业额与净利报43亿1312万4000令吉及8亿5438万5000令吉,成长幅度6.72%及3.47%。

丰隆研究看法最悲观并表示,撇除脱售印尼保险资产获得一次性1亿5000万令吉盈利,该公司净利报34亿令吉,并没有取得成长,符合预期的91%。

后年财测遭砍24%

丰隆认为,该公司在2017财政年将优化营运成本及资本方式,此外,40至60%的派息率,料可吸引投资者跟随。不过,丰隆谨慎起见,仍下砍该公司未来2年净利预测,下砍幅度分别为4.9%及24%。



DUKE下金蛋 林刚河公司大赚6倍

广告

大众研究表示,该公司净利符合全年预期,全年营业额创新高至160亿令吉,且商业银行业务持续成长。此外,基本面也改进不断,预期2017及2018财政年的净利平均可取得4.5%成长。

大马投行研究预期,该公司2017及2018财政年的股本回酬率达8.9%及9.9%,并认为在成本收入比改善之下,市账率低于1倍,估值相当诱人。

联昌集团管理层2017财政年的目标包括,贷款成长报7%、净利息赚幅压缩5至10个基点、贷款损失收费从74基点减低至65个基点或以下、成本收入比低于53%、一级缴足资本大于11.5%及股本回酬率提高至9.5%。

马银行研究假设,每年净利息赚幅改善大于3个基点及信用成本走低至65及60基点以下,进而调高未来2年的净利成长,调高9.2%及8.5%。

广告

肯纳格研究表示,尽管该公司表现,按年成长,惟经济放缓及动荡之故,该行仍谨慎看待来年走势。

肯纳格说,依据该公司管理层承诺,决定调高该公司2017财政年盈利预测2%,目标价亦微调高2仙至5令吉29仙,惟评级下砍。



文章来源:
星洲日报‧财经‧报道:谢汪潮‧2017.03.01

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Re: CIMB CIMB
« Reply #31 on: March 01, 2017, 08:45:53 PM »
CIMB yearly eps up from 33 sen to 41 sen.

DIV up from 14 sen to 20 sen.

Very good !

I oredi told U so.

Today, CIMB is up 12 sen.  :clap: :clap: :clap:  :cash: :cash: :cash:

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Re: CIMB CIMB
« Reply #32 on: March 07, 2017, 07:00:01 AM »



联昌国际获RQFII执照
37点看 2017年3月7日
 
慕妮拉

(吉隆坡6日讯)联昌国际信安资产管理公司(CIMB-Principal)获得人民币合格境外投资机构(RQFII)执照,是我国首家取得执照的基金公司。


该公司文告指出,最近获得中国证监会发放RQFII执照,并已委任汇丰(马)信托公司为信托人,而香港上海汇丰银行有限公司及汇丰银行(中国)则分别担任全球及中国RQFII的托管人。

联昌国际信安资产管理总执行长慕妮拉指出,有了RQFII执照,可直接进入中国资金市场,并投资在之前无法进入的产品:如A股及中国公司债券。

“我们计划开发和引进更多创新金融产品,以投资在中国岸内证券市场,并将现有的投资组合多元化至中国岸内股票和固定收益证券。“

“我相信,这将为我国及国际客户的服务增值。”

同时,大马汇丰银行总执行长莫达胡申对受委任我国首家RQFII的托管银行,感到荣幸: “我国所获的RQFII投资额,进一步证明中国承诺让投资者进入该国市场。”

他相信,这将启动更多利用这个管道投资马中市场。

2015年11月,中国将RQFII计划扩展至我国,投资额为500亿元人民币(约322.75亿令吉)。


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Re: CIMB CIMB
« Reply #33 on: March 07, 2017, 11:03:57 AM »



uesday, 7 March 2017 | MYT 9:59 AM
AmInvestment Research has Buy calls on CIMB and RHB Bank
image: http://www.thestar.com.my/~/media/online/2017/01/22/12/27/banks18-jan2017.ashx/?w=620&h=413&crop=1&hash=F6989B009466F2890791B21C9D0DE4181B194A39

 
KUALA LUMPUR: AmInvestment Bank Research has Buy calls on CIMB and RHB Bank with fair value of RM5.70 and RM6 a share which are based on price-to-book value of one time.

“We continue to like these two stocks due to compelling valuations, decent returns on equity (ROEs) and potentially further improvements to cost-to-income ratios from cost initiatives,” it said on Tuesday.

The research house said 4Q16 sector core earnings (excluding Maybank's one-off gain of RM625mil from the sale of shares in Visa and MasterCard) declined 2.1% on-quarter, due to higher provisions despite registering a better operating income.

“On a full calendarised basis, core earnings for the sector for 12M16 contracted by 1.7% on-year,” it said.

The FY16 saw a mixed bag for banks' earnings. Cumulative net profits of four banks – Maybank, Public Bank, Hong Leong Bank and AFG – were within expectations while AMMB’s earnings met consensus expectation.

RHB Bank and CIMB's cumulative earnings were slightly below our expectation.

For RHB Bank, it was due to lower-than-expected non-interest income (NOII) brought about by the volatility in the capital and financial markets.

On CIMB, there was a variance to our expected earnings after stripping out a one-off gain of RM150mil from the sale of 51.0% equity in Sun Life.

“Loan growth accelerated in 4Q16 compared to 3Q16, due to stronger momentum for corporate loans of Maybank and CIMB. Generally, domestic retail loans continued to be slow, as evidenced in Public Bank, Hong Leong Bank and AFG.

“Overall sector's net interest margins (NIM) expanded by 7bps on-quarter to 2.25% in 4Q16, underpinned by management of liquidity and lower funding cost. Nevertheless, pressure on NIM is still expected ahead due to keen deposit competition.

AmInvestment Research said that sector operating expenses (Opex) contracted by 0.7% on-quarter. Against a core operating income growth of 1.7% on-quarter, JAW remained positive for the sector with a normalised CI ratio of 47.3%.

Upticks in gross impaired loan (GIL) ratio for most banks while credit cost rose in 4Q16 but stayed within expectations.
Except for AMMB which continued to have a write-back in provisions for impairments of its retail loans, 4Q16 saw banks with lower GIL ratios reported upticks in the ratios from rise in impairment of domestic retail loans (Hong Leong, Public Bank and AFG).

Meanwhile, the larger banks’ (Maybank, CIMB and RHB) GIL ratios were elevated, largely due to impairments of corporate loans.

“Calendarised sector core earnings growth for 2017 trimmed to 6.4% from 6.8%. This is after adjusting our estimates for operating income and credit cost assumptions,” it said.

JAWS ratio, according to Wikipedia is a measure used in finance to demonstrate the extent to which a trading entity's income growth rate exceeds its expenses growth rate, measured as a percentage


Read more at http://www.thestar.com.my/business/business-news/2017/03/07/aminvestment-research-has-buy-calls-on-cimb-and-rhb-bank/#OJ8aGWugzOS5iggC.99

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Re: CIMB CIMB
« Reply #34 on: March 10, 2017, 08:45:56 AM »



CIMB consolidating, says AllianceDBS Research
By theedgemarkets.com / theedgemarkets.com   | March 10, 2017 : 6:56 AM MYT   
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KUALA LUMPUR (March 10): AllianceDBS Research said CIMB Group Holdings Bhd was consolidating and that CIMB had on March 9 traded marginally lower to RM5.35 before closing at RM5.38 (up 1 sen or 0.18%).

In its evening edition yesterday, the research house said CIMB continued to trade above the 20-day and 50-day moving average lines.

“Following the up close on March 9, the stock is likely to move higher with immediate hurdle at RM5.50.

“A crossover of RM5.50 should see further price rise to the next overhead resistance zone, RM5.65 – RM5.75.

“The support is pegged at RM5.20. A fall below RM5.20 would put pressure on the stock down to the subsequent support zone, RM5.00 – RM5.10,” it said.

AllianceDBS Research said stock volume traded on March 9 was 11.2 million shares compared to the 3-month average volume of 14.5 million shares.

The research house said that indicators wise, the MACD was above the 9-day moving average line with the buy signal remains intact.

It said the relative strength index indicated that the stock was currently in a neutral zone

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Re: CIMB CIMB
« Reply #35 on: March 18, 2017, 04:43:38 PM »



LATEST NEWS, CORPORATE
Nazir Razak unloads two million shares in CIMB
By Sulhi Azman / theedgemarkets.com   | March 17, 2017 : 10:24 PM MYT   
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KUALA LUMPUR (March 17): Malaysia’s second largest banking outfit CIMB Group Holdings Bhd saw its chairman Datuk Seri Nazir Razak disposing of two million shares at RM5.689 apiece, for a total of RM11.38 million.

Following the disposal, Nazir’s stake in CIMB was reduced to 44.51 million shares or a 0.5% stake.

At today’s closing price of RM5.65, Nazir’s remaining holdings in CIMB is valued at RM251.46 million, while the banking firm is valued at a market capitalisation of RM50.11 billion.

Boasting a staff strength of 39,000, CIMB’s total assets stood at RM485.6 billion as at end-2016.

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Re: CIMB CIMB
« Reply #36 on: March 21, 2017, 06:47:52 AM »



CIMB, Olympia in talks over Jupiter Securities
Posted on 21 March 2017 - 05:36am
sunbiz@thesundaily.com
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PETALING JAYA: CIMB Group Holdings Bhd has been in talks with stakeholders and various parties for the acquisition of stockbroking firm Jupiter Securities Sdn Bhd, as part of its proposed partnership with China Galaxy International Financial Holdings Ltd.

In a filing with Bursa Malaysia yesterday, CIMB said it has been undertaking preliminary assessment on its options as part of the proposed partnership which is envisaged to involve multiple countries.
“This entails engaging in exploratory discussions with its stakeholders and various parties,” it said.

In a separate filing, Olympia Industries Bhd confirmed plans to dispose of its equity interest in Jupiter Securities. It said it has been in discussions with interested parties and will make the necessary announcement upon finalisation of the terms of the proposed disposal.

In October last year, CIMB through its wholly-owned subsidiary CIMB Group Sdn Bhd signed a heads of terms with China Galaxy International, a wholly-owned subsidiary of China Galaxy Securities Co, to explore a strategic partnership in the stockbroking business.

It was reported that the acquisition of Jupiter Securities will enable CIMB obtain an additional licence for its stockbroking business to facilitate a merger with China Galaxy Securities.

Hong Leong Investment Bank (HLIB) Research is positive on the new development despite Jupiter being a loss-making firm for several years.

“It will enable CIMB to leverage on the stockbroking license owned by Jupiter, and place all stockbroking businesses in the region under the joint venture (JV) with China Galaxy,” HLIB Research economist Sia Ket Ee said in his report yesterday.

He said the JV will allow CIMB to tap on China Galaxy’s experience and post acquisition, CIMB will focus its efforts in investment banking, capital market products and services while the JV will be positioned as a pure play stockbroker with universal bank client base.

“While the JV may boost CIMB’s presence outside Asia, we believe the deal is primarily targeted to further reduce CIMB’s operating expenditure and drive its CIR to below 53% (reduction of about RM300 million per annum),” he said.

Sia said the stockbroking business posted a loss of about RM30 million in FY15 but made a turnaround with a profit of about RM20 million in FY16.

CIMB owns a stockbroking licence parked under its investment banking arm and the JV will need a new stockbroking licence to operate in Malaysia.

HLIB Research maintained its “hold” call on CIMB, with a higher target price of RM5.60 on the back of a favourable outlook. The stock was unchanged at RM5.65 yesterday. Olympia shares soared 5.5 sen or 40.74% to close at 19 sen.

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Re: CIMB CIMB
« Reply #37 on: March 21, 2017, 06:58:23 AM »



财经  2017年03月20日
志必得证券待价而沽 联昌评估银河联营合作

(吉隆坡20日讯)针对联昌国际(CIMB,1023,主板金融股)出手收购奥林匹亚工业(OLYMPIA,3018,主板贸服股)旗下志必得证券(JupiterSecurities)的传言,双方周一双双发文告回应,並指出,一切待尘埃落定后再作公佈。

联昌国际和奥林匹亚工业的股价在週一早盘齐齐上涨,惟联昌国际最后以5.65令吉平盘闭市;而奥林匹亚工业则收在19仙,全天起5.5仙或40.74%,並以2亿3395万股转手量,成为第2大热门股。

上周,《星报》引述知情人士透露,联昌国际计划斥资超过5000万令吉,向奥林匹亚工业收购志必得证券股权,借此获得额外的股票经纪业务执照,而该业务將与中国银河证券合併,为该银行扩大版图及减轻成本的措施之一。

敲定后才公佈


针对上述报导,联昌国际和奥林匹亚工业今日双双发文告回应。奥林匹亚工业坦言,该公司的確有意脱售志必得证券的股权,並已与几个潜在买家展开洽谈。

惟,奥林匹亚工业並未透露潜在买家的名单,仅表示,该公司会在脱售计划敲定后,发布声明。

至于联昌国际则指出,由于该银行和中国银河证券之间的伙伴协议涉及多个国家,他们正在针对各个选项进行初步评估,並会和利益相关者及各方展开探索性討论。

联昌国际和中国银河证券在去年10月17日签署意向协议书(HOA),就机构及零售经纪业务、股市研究、证券业务和各自营运的市场探討可联手合作的方向。

同时,双方也在洽商成立一家各持50%股权的经纪业务联营公司。

值得一提的是,联昌国际首席执行员拿督查夫鲁日前也向媒体指出,该银行和中国银河证券的意向协议书,预计会在今年杪完成。

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Re: CIMB CIMB
« Reply #38 on: April 05, 2017, 07:25:58 AM »



财经  2017年04月04日
预计今年盈利提升15% 联昌银行ROE料难达標

预计今年盈利提升15% 联昌银行ROE料难达標

(吉隆坡4日讯)联昌国际(CIMB,1023,主板金融股)首席执行员拿督查夫鲁认为,鉴于今年东南亚区域股市的集资和企业活动更为强劲,而该银行的净利料可因此提升15%。

查夫鲁表示,首次公开售股(IPO)和发行债券的活动增加,预料將使该公司盈利成长15%。儘管如此,查夫鲁也透露,由於银行领域受到较高的资本需求和经济成长放缓所影响,因此联昌国际今年无法达到原先设下的15%股本回酬率(ROE)目標。

「过去2年,联昌国际已分批裁员和脱售非核心业务,致力降低其成本对收入比(CIR)。」另外,该银行也宣佈退出印尼微型融资业务,同时,精简其泰国营运,改为专注財务管理和规划。有鉴於此,该银行股价也水涨船高,在今年首季共取得23.5%涨幅,成为富时大马综合指数(KLCI)中表现最亮眼的股项。

另一方面,查夫鲁也指出,联昌国际已连续2年的收入成长高过成本增幅,证明了该银行的成本管理能力不俗。过去两年,集团进行了许多的调整及重组,接下来將是验收这些行动的时候。


至於银行无法达到早前设下的股本回酬目標,他则表示,「本地银行整体的股本回酬率均往下跌,至11%左右,因此我们將2018年股本回酬率的目標下调至更为实际的10.5%-11%,而我们將严控成本以提高盈利表现,对未来的新投资也將更加谨慎。」

联昌国际近期逐步脱售一些非核心业务,其中,去年12月杪,將营口银行18.21%股权售予上海国之杰投资发展公司。同时,也和中国银河证券洽商脱售证券业务股权,预计可在今年6月杪完成。

虽然如此,查夫鲁表示,该银行会保留一触即通卡(Touch n'Go)公司52%的股权,因为后者在电子领域付款扮演了重要角色,查夫鲁也指,若有机会,可能进一步增持后者的股权。

IPO市场低点復甦

根据《彭博社》统计,大马2016年IPO集资额大幅滑落至3亿零500万令吉,为2000年以来最低水平,而今年大马的IPO活动预计从16年的低点復甦,大型的IPO项目包括,週一刚上市的绿盛世国际,和拥有肯德基(KFC)快餐店经营权的QSR品牌(大马)控股公司,市场预期有意在今年上市的QSR品牌將集资5亿美元(约22亿令吉)。

「2017年马股上市的集资额预期將达到逾30亿美元,是去年的11倍;而马印两国企业所发行的债券在今年料將增加。」上述利好將令联昌国际受惠,因为该银行有1/3的营收来自其企业和投资银行业务。

另一边厢,查夫鲁预测,今年大马企业发行新债券规模料达到900亿令吉(约203亿美元),而印尼则料达到150兆印尼盾(约113亿美元)。

在营业额成长策略方面,查夫鲁补充,联昌国际將专注拓展中小型企业贷款,并增加其市占率。目前,联昌国际中小企业贷款市场中排名第4,有9.2%的市佔率,而该银行的目標是成为行业中的前3甲。

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Re: CIMB CIMB
« Reply #39 on: April 14, 2017, 06:27:52 AM »



财经  2017年04月13日
低基数助盈利反弹 联昌国际財测上调

(吉隆坡13日讯)去年低基数將会是让联昌国际(CIMB,1023,主板金融股)今年盈利反弹的主要因素,这都在市场和分析员的预测之內。

另外,在资本市场活跃下,分析员表示將带动联昌国际的收费服务,並改善盈利,因此上调其盈利预测。

大华继显分析员表示,联昌国际的盈利成长符合预期。预测今年盈利可成长21%,主要有2个因素:一、信贷成本降减,从74个基点,跌至60个基点;二、非利息收入按年增长6%。

分析员表示,联昌国际在大马的资產素质稳定和印尼业务逐步好转。


管理层预期今年信贷成本可维持在60个基点至65个基点,分析员的预测则为60个基点。

另外,分析员也看好今年资本市场,將提振该集团的收费服务成长8%,去年则是下滑4%。

净利息赚幅料受压

分析员亦不排除今年可能举行全国大选,將是改善公司收入和股本回酬率的的利好因素。「如果收费服务增长14%,料可带动全年盈利上升2.3%,股本回酬率预期將从9.2%,增至9.5%。」

净利息赚幅(NIM)方面,因集团致力推动贷款成长,加上其贷款对存款比例(LDR)高达98.4%,料导致NIM进一步受压。

「旗下印尼联昌商业银行(CIMB Niaga)管理层预测,NIM將下跌64个基点,料拖累集团今年整体NIM下滑10个基点,高过我们早前预期的下滑3个基点。」

即將在2018年1月1日生效的大马金融会计准则(MFRS)第9条文,估计会使联昌国际的拨备上涨,將影响其股本回酬率。

分析员也强调,联昌国际和中国银河证券公司联营项目,对提振公司净利影响不大,因此不宜过度乐观。

若以该证券业务每年亏2000万令吉为准,以联昌国际让出一半股权来看,仅仅改善集团盈利表现0.2%或1000万令吉。

整体而言,大华继显分析员把联昌国际2017和2018年的盈利预测,分別上调2.3%和1.8%。同时也维持该股「守住」的评级,但调高目標价至5.60令吉。

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Re: CIMB CIMB
« Reply #40 on: April 23, 2017, 08:24:42 PM »



2017-04-23 19:25
纳西尔:拨备减少.联昌今年回酬可改善
联昌集团以较好姿态进入2017年,对集团来说,削减成本、控制开销,设定比2016年高的目标,是集团迈进的核心。
联昌集团(CIMB,1023,主板金融组)以较好姿态进入2017年,对集团来说,削减成本、控制开销,设定比2016年高的目标,是集团迈进的核心。

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联昌集团主席拿督斯里纳西尔在最新年报中说,在已结束的2016财政年,盈利引擎保持强劲、2016年营业额创新高水平,不过,主要遗憾来自贷款损失,其中印尼在这方面的损失保持偏高、新加坡的贷款损失水平上升,意外的是,泰国的业务也面临这方面亏损。

“2016年结束时,留给大家的是一系列震憾世界事件,脱欧公投、特朗普中选美国总统、支持新民粹主义领袖,这些事件的后续效应,是否威胁我们的未来、我们是否面对自由市场的主导、全球化,以及自由价值的冲击?”

虽然全球经济展望稍有改善,可是,国际货币基金组织最近在6年来调整成长预测,下跌风险上升,主因是政策与地缘政治形势不稳定。

他说,在2016年,集团宣布两项与中国相关的交易,其中与银河证券的合作是一项精明交易,结合两家公司的证券平台,改善业务的经济效益。

有关合作予以集团更好的掌握中国与东盟之间的资金流量,与此同时,集团宣布出售中国银口银行的19%股权,那是集团其中一项最获利的投资。

该国条例对联号公司的监管,无疑对银行是一项惩罚措施,出售股权是集团长期资本累积的议程,期待2017年内完成交易。

方天兴柏华嘉快撑不住了?
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展望2017年,他说,东盟生产总值料取得4.9%成长率,比2016年的4.6%高,主要是印尼、菲律宾经济成长较强劲,而联昌集团最大市场的大马,2017年经济成长料持平,资金市场依然呆滞,资金流量受美国经济复苏带动,预料集团营业额将继续成长,尽管增长步伐稍缓,贷款损失准备金下降,期待今年的股东回酬进一步改善。

文章来源:
星洲日报‧投资致富‧企业故事‧文:郑碧娥​‧2017.04.23

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Re: CIMB CIMB
« Reply #41 on: April 29, 2017, 03:18:09 PM »



Edge Weekly
CIMB moves forward
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April 29, 2017 13:04 pm MYT


Nazir (left) and Zafrul at the AGM. PHOTO by SHAHRIN YAHYA/THE EDGE


Profit before tax contribution by segment


Yearly earnings trend

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KUALA LUMPUR (Apr 29): Last year, CIMB Group Holdings Bhd's consumer banking segment overtook its traditionally strong investment banking segment for the first time in terms of contribution to the group's earnings.

In the financial year ended Dec 31, 2016, consumer banking contributed RM2.27 billion or 46.4% to CIMB’s profit before tax while wholesale banking accounted for RM1.96 billion or 40.1%. Revenue came in at RM16.05 billion, up 4% from the previous year, while net profit improved to RM3.56 billion from RM2.85 billion before.

One may think this is a natural rise in the consumer banking segment for the group, what with tepid deal flow amid a less-than-conducive-to-deal-making economic climate, which led to the smaller contribution from the fee income business.

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But growing consumer banking income contribution is actually one of CIMB's Target 18 (T18) goals, outlined in February 2015, wrote The Edge Malaysia senior editor Joyce Goh and senior writer Esther Lee in the publication's cover for the week of May 1-May 5.

Under T18, the group wants to achieve a return on equity (ROE) of 15%, common equity tier 1 ratio of over 11%, cost-to-income ratio of less than 50%, and consumer banking income contribution -- including contribution from commercial banking -- of 60% by end-2018.

CIMB group CEO Tengku Datuk Seri Zafrul Aziz told the weekly the bank is learning to engage with markets it never focused on before.

“We want to go back to our natural market share. In Malaysia, we should be top two [in the small and medium enterprise market] but we’re not [now]. We’ve been conservative in our engagement with the SMEs; we’ve been very corporate. Even in consumer banking, we’ve always been ‘preferred’ rather than ‘mass’. These are the markets that we need to tap into and where you will see growth as we start engaging with them,” he said.

He said the consumer banking business, which has huge potential, has done "very well" for the group because of its smaller scale compared with wholesale banking -- which includes investment banking, corporate banking and treasury and markets.

"It was simple for consumer banking. We grew the fastest in mortgages, personal financing and credit cards in Malaysia because we were better in our data analytics and mining, which enabled us to better target customers that needed those products," said Zafrul.

Notwithstanding that, Zafrul said CIMB has not sidelined wholesale banking as it moves forward to achieve its consumer banking income contribution target. “We’ve always told our staff that we cannot drop off the league table,” said Zafrul.

With the 14th general election on the horizon and anticipation of a better economic year ahead, analysts believe things will pick up in CIMB's wholesaling this year, what more with last year's low base effect.

UOB Kay Hian Research, for one, has projected an 8% year-on-year growth in fee income for CIMB this year, after noting that brokerage and underwriting charges were the drivers of the banking group's fee income growth during the 2013 general election.

CIMB chairman Datuk Seri Nazir Razak himself, wrote The Edge Malaysia writer Billy Toh, also remarked yesterday that interest in investment banking has returned, partly driven by leadership changes in some organisations like Permodalan Nasional Bhd.

"These new leaders are looking at new ways to create value and you’ve seen some deals announced. I think even in other areas, there is a sense that people have been too docile in terms of deals. Deals can be done to reduce costs and synergise for more revenue. I certainly feel from the marketplace that there is a lot of interest again to approach investment bankers,” Nazir said.

While consumer banking is looking on track to its T18 target, how close is the bank to meeting all its other targets by end-2018?

Certainly, it has achieved its common equity tier 1 ratio goal, which stood at 11.3% as at FY2016. As for its its cost-to-income ratio, which was 59% in 2015, it is now down to 53.9%, not far from its 50% target. But what about ROE, which stood at 8.3% as at FY2016, short of its 10% target for the year due to impairments? Is the 15% mark still achievable?

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Re: CIMB CIMB
« Reply #42 on: May 24, 2017, 01:41:51 PM »



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CIMB 1Q net profit up at RM1.18b, revenue tops RM4b
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May 24, 2017 13:19 pm MYT
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KUALA LUMPUR (May 24): CIMB Group Holdings Bhd reported a 46% rise in first quarter net profit at RM1.18 billion from a year earlier on higher interest, non-interest and Islamic banking income. Profit also rose on lower bad loan allowance. 

In a statement to Bursa Malaysia today, CIMB said net profit rose to RM1.18 billion in the first quarter ended March 31, 2017 (1QFY17) from RM813.8 million. Revenue was higher at RM4.36 billion versus RM3.73 billion.

"CIMB Group’s 1QFY17 operating income grew 17.1% Y-o-Y to RM4.36 billion largely driven by a 32.3% growth in non-interest income in line with improved capital market activity. 1QFY17 net interest income rose 11.5% from loans growth and improvement in net interest margin," CIMB said.

CIMB said Islamic banking income rose to RM473.96 million from RM437.51 million. Bad loan allowance was lower at RM424.52 million compared to RM464.56 million.

According to CIMB, the group has a good start in 2017 as it recorded its highest ever quarterly net profit at RM1.18 billion in 1QFY17. CIMB said this was in tandem with a gradually improving regional economic environment and capital market activity.

"Looking ahead, the group is cautiously optimistic for the rest of 2017, with more stable economic conditions, increased regional activity, improved capital markets and declining provisions across its key geographies. The group is currently on track to achieve its key financial targets for 2017," CIMB said.

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Re: CIMB CIMB
« Reply #43 on: May 25, 2017, 11:47:33 AM »



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CIMB up 2.77% on firmer 1Q earnings, target price upgrade
Surin Murugiah
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May 25, 2017 10:33 am MYT
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KUALA LUMPUR (May 25): CIMB Group Holdings Bhd shares rose 2.77% at mid-morning today after its net profit in the first quarter ended March 31 (1QFY17) rose 46% to a record RM1.18 billion from RM813.8 million a year ago, driven by higher interest, non-interest and Islamic banking income.

At 10.15am, CIMB rose 17 sen to RM6.30 with 6.21 million shares traded.

Also supporting the gains was lower bad loan allowance, said CIMB. Quarterly revenue was higher at RM4.36 billion versus RM3.73 billion.

Meanwhile, AffinHwang Capital Research has maintained its “Buy” rating on CIMB at RM6.13 with a higher target price of RM7 (from RM6.30) and said CIMB kicked off 1Q17 with RM1.18 billion in net profit (+45% y-o-y, +38% q-o-q), in line with house estimate but outperforming the street’s.

In a note today, the research house said key surprises are mainly the robust topline income growth driven by a 10bps increase in NIM yoy, strong loan growth in Malaysia, sharply higher investment gains and credit cost of 52bps, which came in below management’s guidance.

“Further improvement in asset quality (as NPLs had peaked in 4Q16) and operational synergies from the JV with China Galaxy are possible catalysts for further upside to our 2017-19E forecasts.

“Maintain Buy, price target raised to RM7.00 from RM6.30,” it said.

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Re: CIMB CIMB
« Reply #44 on: June 07, 2017, 08:58:28 AM »



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HLIB Research raises target price for CIMB to RM6.30
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June 07, 2017 08:29 am MYT
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KUALA LUMPUR (June 7): Hong Leong IB Research has maintained its “Hold” rating on CIMB Group Holdings Bhd with a higher target price of RM6.30 (from RM5.93) after CIMB signed a share purchase agreement to formalise its strategic partnership with CGI.

In a note today, the research house said it was positive on the latest development, as the divestment will enable CIMB to achieve further saving in its overhead expenses (up to circa RM350 million from FY18 onwards).

HLIB Research projects modest earnings contribution from the partnership of RM10 million-RM15 million from FY18 onwards.

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“Purchase consideration of RM515 million for the 50% stockbroking stake will boost its CET1 by 30 basis points to 11.8%.

“Post-acquisition, CIMB will focus its efforts in investment banking, capital market products and services.

“FY17-FY19 earnings forecasts are raised by 2.3%, 3.1% and 2.9% respectively

“We maintain our Hold call but raise our target price to RM6.30 (from RM5.93). TP is derived from GGM model based on i) WACC of 9.2% ii) ROE of 9.7% (from 9.4%),” it said.


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Re: CIMB CIMB
« Reply #45 on: June 13, 2017, 01:38:36 PM »



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CIMB active, up 1.36% on firm performance, sector outlook
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June 13, 2017 11:57 am MYT
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KUALA LUMPUR (June 13): Shares in CIMB Group Holdings Bhd were among the most actively traded this morning, rising 1.36% following a positive outlook on the banking sector as well as a strong performance by the CIMB bank group.

At 11:11am, CIMB gained nine sen to RM6.71 with 12.96 million shares traded.

According to a note by CIMB Research June 12, Malaysian banks' net profit saw a strong 14.1% year-on-year (y-o-y) increase in the first quarter (1Q17), underpinned by a 17.6% y-o-y decline in loan loss provisioning, and improvement in growth of net and non-interest income to 4-6% y-o-y in 1Q17.

"The strongest net profit growth in 1Q17 came from the two big banks. This was led by CIMB Group Holdings' net profit growth of 45% in 1Q17 (driven by the 17.1% y-o-y jump in operating revenue), followed by Maybank's 19.3% (underpinned by lower credit costs)," it said.

It added loan growth improved from 5.3% y-o-y at the end of December 2016 to 6% y-o-y at the end of March 2017 while the gross impaired loan ratio inched up by 1 basis point quarter on quarter in 1Q17 to 1.62% at the end of March 2017.

In a research note by AmInvestment Bank on Friday, the research house said the sector's aggregate loans expanded 8% y-o-y in 1Q17, a faster pace compared to 6% y-o-y in 4Q16, mainly driven by larger capitalised banks such as CIMB, which benefited from foreign exchange translation gains.

CIMB Research projects a 9.2% net profit growth in 2017, compared to 0.9% in 2016.

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Re: CIMB CIMB
« Reply #46 on: July 03, 2017, 01:48:22 PM »



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CIMB down after foreigners turned net sellers of Malaysian shares
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July 03, 2017 11:58 am MYT
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KUALA LUMPUR (July 3): CIMB Group Holdings Bhd slid as much as 18 sen or 3% to RM6.40 today, possibly on analysts' updates that foreigners were net sellers of Malaysian shares last week.

At 11:11am today, shares of financial services entity CIMB pared losses at RM6.47, with some two million units traded. At 11:20am, the stock changed hands at RM6.52 for a market value of RM59.56 billion.

An analyst told theedgemarkets.com that “big caps may be affected by the foreign selldown over the past week”.

Last Friday, the FBM KLCI fell 7.69 points to 1,763.67 points.

According to a note today by MIDF Amanah Investment Bank Bhd, foreign investors' net sale of Malaysian shares last week stood at RM298 million.

MIDF said foreign investors were net sellers of Malaysian equities, after they bought and sold RM1.71 billion and RM2.01 billion worth of shares respectively.

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Re: CIMB CIMB
« Reply #47 on: July 20, 2017, 10:47:18 AM »




Business NewsHome > Business > Business News
Thursday, 20 July 2017 | MYT 9:57 AM
Khazanah selling 90.5m shares of CIMB for up to RM581m
image: http://www.thestar.com.my/~/media/online/2015/09/23/07/31/cimbbanksept15.ashx/?w=620&h=413&crop=1&hash=8875F97BC4724CFD99D15C87779E87CF0FB3DC36

 
SINGAPORE: Khazanah Nasional Bhd has launched a RM$571mil to RM$581mil (US$133mil to US$136mil) block in CIMB Group Holdings Bhd in the RM6.31 to RM6.42 per share range.

The price represents up to a 1.7% discount to the pre-deal close.
 
Around 90.5 million shares, or 1% of the share capital, are being sold in the block. There is an undisclosed upsize option depending upon the response to the offer.

There is a 60-day lock-up on Khazanah, which owns 29.1% of CIMB.

CIMB and JP Morgan are joint book runners. - IFR
TAGS / KEYWORDS:
Banking , Corporate News

Read more at http://www.thestar.com.my/business/business-news/2017/07/20/khazanah-selling-90pt5m-shares-of-cimb-for-up-to-rm581m/#Fo0B3Ojgrkou7JDu.99

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Re: CIMB CIMB
« Reply #48 on: July 24, 2017, 03:31:32 PM »




Monday, 24 July 2017
CIMB's subsidiary Touch ‘n Go to launch e-wallet together with Alipay
BY RISEN JAYASEELAN

image: http://www.thestar.com.my/~/media/online/2017/07/14/00/34/syahrunizam-samsudin.ashx/?w=620&h=413&crop=1&hash=79D1A6CADCBDF82EA62984886BC6973750E0EE77
Recently, Bernama quoted Touch ‘n Go Sdn Bhd chief executive officer Syahrunizam Samsudin(filepic) as saying that the company would introduce a new digital platform which will be used as a sales and purchase medium nationwide in line with the move to enhance cashless transactions.  He said the platform, named Touch ’n Go e-Wallet, was undergoing several evaluation processes before it could be introduced to the public.
Recently, Bernama quoted Touch ‘n Go Sdn Bhd chief executive officer Syahrunizam Samsudin(filepic) as saying that the company would introduce a new digital platform which will be used as a sales and purchase medium nationwide in line with the move to enhance cashless transactions. He said the platform, named Touch ’n Go e-Wallet, was undergoing several evaluation processes before it could be introduced to the public.
 
PETALING JAYA: CIMB Group Holdings Bhd’s subsidiary Touch ‘n Go is set to launch an “e-wallet” using technology pioneered by Alipay, sources said.

The service is positioned to shake up the payments business here, according to people familiar with the e-payment services segment.

This is because of the widespread usage of Touch ‘n Go cards – there are about 17 million such cards issued – and the robustness of the Alipay back-end technology that would be deployed, sources added.

Alipay is the mobile payment service of Ant Financial, which in turn is the financial affiliate of the Alibaba group.

Chinese e-commerce giant Alibaba and its founder Jack Ma were in Malaysia earlier this year to announce plans to set up a regional distribution hub here. Since then, a number of Malaysian companies have announced alliances with Alipay including CIMB Bank.

However, the deal involving Touch ‘n Go holds the potential to scale up quickly considering the large number of existing users of Touch ‘n Go.

“The tie-up will also create new business opportunities for companies to create applications that utilise this new e-wallet,” explains an industry player, who cites the examples of the rise of mobile games in China using e-wallets such as Alipay or Wechat pay.

CIMB owns 52% of Touch ‘n Go while MTD Capital Bhd and PLUS Expressways Bhd own 28% and 20% respectively.

E-wallets are typically made up of an application that resides on one’s mobile device, which then can be swiped over a QR code at a merchant’s location for payment of goods or services. Users will be able to top up the credit on their e-wallets via online banking facilities in Malaysia.

Alipay says it is accepted at more than 80,000 merchants in 70 countries. But that is largely to cater to Chinese users travelling abroad.

The Touch ‘n Go e-wallet will enable payments to be made electronically at even very small merchants such as night market vendors and tea stall operators.

A similar model has taken off in a big way in India, where Prime Minister Naredra Modi had called for the nation to become a cashless society. The popular e-wallet there is called PayTM, which is backed by Alibaba and Softbank and whose system is being used more and more by merchants such as shopkeepers, street vendors, petrol stations and even chai wallahs.

Recently, Bernama quoted Touch ‘n Go Sdn Bhd chief executive officer Syahrunizam Samsudin as saying that the company would introduce a new digital platform which will be used as a sales and purchase medium nationwide in line with the move to enhance cashless transactions.

He said the platform, named Touch ’n Go e-Wallet, was undergoing several evaluation processes before it could be introduced to the public.

Bernama quoted him as saying: “Our vision is to introduce this cashless payment system deeper at the community level, not just at the city centre or shopping malls, but also at retail outlets close to the community. We will be launching this platform and we will see the reaction from the users by then”.

The report added that the pilot project for the platform was launched in Taman Tun Dr Ismail a few months ago in collaboration with the residents association, along with retailers, restaurant operators and market traders, and the response had been positive in terms of the system’s stability and user-friendly function.

TAGS / KEYWORDS:
Banking , Stocks , Economy , fintech

Read more at http://www.thestar.com.my/business/business-news/2017/07/24/cimb-in-major-fintech-move/#eHPbkG74xKmokbkf.99

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Re: CIMB CIMB
« Reply #49 on: July 26, 2017, 06:58:29 AM »




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Immediate hurdle for CIMB at RM6.50, says AllianceDBS Research
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July 26, 2017 05:52 am MYT

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KUALA LUMPUR (July 26): AllianceDBS Research said CIMB Group Holdings Bhd (CIMB) had on July 25 traded higher to RM6.45 before closing near the day’s low at RM6.35 (up 1 sen or 0.15%).

In its evening edition yesterday, the research house said CIMB continued to trade below the 20-day (blue) and 50-day (red) moving average lines.

“Given the recent share price behaviour, the stock is likely to move between RM6.19 and RM6.50 in the coming few days.

“A crossover of RM6.50 should see further price rise to the next overhead resistance zone, RM6.60 – RM6.70.

“However, a fall below RM6.19 would put pressure on the stock down to the subsequent support at RM6.00,” it said.

AllianceDBS Research said stock volume traded on July 25 was 11.5 million shares compared to the 3-month average volume of 19.3 million shares.

The research house said that indicators wise, the MACD was below the 9-day moving average line with the sell signal remains intact.

It said the relative strength index indicated that the stock was currently in a neutral zone.

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Re: CIMB CIMB
« Reply #49 on: July 26, 2017, 06:58:29 AM »