Highlights of the day
§
Malayan
Banking (Company Update): Dilution
from private placement (Maintain HOLD, TP: RM9.00) [download
report]
We are reducing our FY13 EPS forecast and target price
by 3% due to dilution from Maybank’s private placement of new shares at RM8.88
per share. Our target price has been
reduced from RM9.25 to RM9.00 per share.
We maintain a HOLD rating as Maybank remains one of our preferred
banking stocks for its defensiveness and relatively strong loan growth
momentum.
Other reports
Other Malaysian news
§
CIMB: Said
to be eyeing Bank of Ayudhya stake too
§
Sunway REIT: Likely
to get asset injection today
§ Tenaga:
Said to clinch Prai project
§
BIMB: To
start talks for Bank Islam stake
§ MAS:
India
§ Mudajaya:
To bid for Pengerang power plant pre-Q
§
Latexx: Semperit to buy out Latexx
§
Hua Yang: Acquires Puchong land for RM158m
§
Ingress: Bags jobs worth RM51.6m
§
Economy: Decline
in factory output
Global news
§ Europe : EU
ministers move toward euro bank oversight amid disagreement
§ Europe: Cyprus
§ Europe : ECB
may need to cut rates further on deflation risk
§ China
§ Global: IMF
sees ‘alarmingly high’ risk of deeper global growth slump
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