Highlights of the day
FY12 results were within market expectations, with EPS growth of 13%
y-o-y. PBT before provisions was up only
7% y-o-y but lower provisions boosted PBT growth to 12% y-o-y. Net interest income was flat, with loan
growth of 7% being offset by lower net interest margin. It was trading income which boosted
non-interest income. We are maintaining
our EPS forecasts, target price and HOLD recommendation.
Other reports
Other Malaysian news
§ TM: HSBB network
outpaces others in region
§ QSR-KFC: EPF
strengthens JCorp’s offer
§ JobStreet: Adds Vietnam
§ Scomi: To sell
machine shop business in Nigeria
§ KHSB: Ties up with
HK’s Lohas Group
§ Fajarbaru: Bags RM13.65m job
§ IHH: Khazanah to list
unit by end-July 2012
§ Gas Malaysia
§ Property: Jaya33 open to asset sales
§ Economy: Greece
Global news
§ US: Jobless
claims were unchanged at 370,000 last week
§ US: Leading
economic indicators unexpectedly fall
§ US : Manufacturing in Philadelphia
§ US : Fed
signals easing an option as risks from Europe
to budget loom
§ Europe: Fitch
cuts Greece
§ Japan : Growth
pick-up clouded by deepening Europe risk
§ Singapore
§ Myanmar : US
eases ban on Myanmar
§ Global: G-8
leaders to discuss oil market as Iran
