Pakistan’s First Financial Daily yesterday quoted Chairman of Nishat Group (major shareholder of MCB Bank), Muhammad Mansha, as saying that MCB and Maybank are planning to acquire foreign banks in UAE and Indonesia to bring Pakistan into the global financial market.
Strategy:-
Regulatory hurdles. With regard to Indonesia’s single presence policy, Maybank is unlikely to be able to acquire another bank in Indonesia even if it aspired to do so.
Maintain NEUTRAL but have raised our TP from RM6.20 to RM6.60 after pegging a higher PBV of 1.76x on a lower COE of 9.4% but unchanged sustainable ROEs of 10.8%.
Source : OSK Research
My View:-
- Malaysia's EPF and ASB are continously support Maybank share price. Once recovery happen, those Mr. Market will speculate this stock, bring it to new high level. Trader's physiology is looking for lower price (maybank) as target. Maybank's price cheaper than PBBANK, CIMB (Not valuation)
- Maybank Singapore business, is expanding by offer higher Fixed Deposit rate compare to other singapore local bank. Beside, its credit card business, is even more aggresive by offer S$100.00 if you subscribe Maybank Credit Card.
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the cc policy by mbb will cause shorterm reduction in its profit... how is its housing loan package by mbb s'pore? attracting customer?
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