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BIMB (5258) : BIMB HOLDINGS BERHAD
TokanCorner
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Joined: Jun 2012
Male, AFG
04 Jun 2012, 11:58 PMPost #1
My view regarding BIMB-CC and BIMB @ http://bit.ly/Mbvuw6
TokanCorner
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Joined: Jun 2012
Male, AFG
04 Jun 2012, 11:59 PMPost #2
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thng69
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Joined: Jul 2012
Male, AFG
19 Sep 2012, 10:24 PMPost #3
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CNY2012
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Posts: 111
Joined: Dec 2011
Male, AFG
12 Nov 2013, 09:18 AMPost #4
CIMB Research maintains Outperform on BIMB

KUALA LUMPUR: CIMB Equities Research is maintaining its Outperform recommendation on BIMB Holdings with a revised target price of RM5.75 after the rights issue went ex.

It said on Tuesday BIMB’s two-for-five rights issue went ex on Nov 8, 2013. The exercise was to finance its proposed acquisition of the remaining 49% stake in Bank Islam, which, in its view, would enhance its FY14-15 EPS by 18%-19%.

“We are introducing ex-rights earnings forecasts and DDM-based end-2014 target price (COE of 13.5%; LT growth of 4%). In our numbers, we factor in (1) a 100% stake in Bank Islam, and (2) 426.7 million new shares issued from the rights issue.

“We are reiterating our Outperform call on the stock given the (1) EPS-accretive deal to

purchase the additional stake in Bank Islam, and (2) swift loan and fee income growth,” it said.

To recap, CIMB Research said BIMB’s proposed two-for-five rights issue went ex on Nov 8.

A total of 426.7 million new shares will be issued (at a rights price of RM4.25) to raise a total of RM1.81bil.

The proceeds are to partly finance the acquisition of the remaining 49% stake in Bank Islam that it does not own - 30.5% from Dubai Financial Group (DFG) and 18.5% from

Lembaga Tabung Haji. The total purchase consideration is US$884.6mil.

For the financing, BIMB will also issue a sukuk of RM1.47bil.

“Based on our estimate, the deal is expected to lift EPS by 18-19% for FY14-15. The accretion is due to (1) decent ROI of 10-11%, and (2) about 30%+ financing from the issuance of sukuk, which carries an interest rate of only 6.25%.

“The transaction will have limited impact on Bank Islam’s operations as it only involves BIMB buying additional stakes in a bank that it has been running all the while. There will also be minimal effect from the exit of DFG as it is a passive shareholder.

“Hence, we do not expect these to affect its strong expansion in loans and fee income,” it said.

CIMB Research advised investors to accumulate the stock given the EPS-accretive deal to purchase the remaining 49% stake in Bank Islam.

“We are also positive on the group’s swift expansion in loans and fee income, which has enabled it to turn into one of the strongest topline growth stories among the local banks in the past few quarters,” it said.
azmanhedgefund
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Joined: Feb 2016
Male, AFG
02 Feb 2016, 02:46 PMPost #5
Short term downtrend. We should buy on weakness. Time for buy low. This stock will continue its uptrend in 3-12 months. Only short term correction for downtrend due to recent market downturn.
Sebie_Kelate
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Joined: Dec 2016
Male, AFG
04 Mar 2017, 07:06 AMPost #6

monthly

weekly chart, extremely high for now, 

daily chart, retrace or pullback for now b4 form new wave cycle,

 

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Sebie_Kelate
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13 Mar 2017, 06:32 PMPost #7

 

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yeah doh drool lol mad notworthy question rant rolleyes sad shutup shy smile star sweat thumbup wub cry


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