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Analysts mixed on CIMB Group despite robust 1Q results from Indonesian unit


KUALA LUMPUR (April 30): Analysts are mixed on CIMB Group Holdings Bhd’s outlook, even though its 92.5%-owned Indonesian banking unit PT Bank CIMB Niaga Tbk (CIMB Niaga) reported a robust set of financial results for the first quarter ended March 31, 2021 (1QFY21).
AmBank Research maintained its “buy” recommendation on CIMB Group, with an unchanged fair value (FV) of RM5.50 per share, based on an estimated FY22 return on equity (ROE) of 9%, leading to a price-to-book value ratio of 0.9 times.
“CIMB Niaga s strong earnings in 1QFY21 led to an ROE of 10.5%.
“With the number of Covid-19 cases in Indonesia on a declining trend, this, coupled with optimism about the country’s vaccination programme, is likely to improve consumer and business sentiment, leading to an economic recovery in Indonesia,” analyst Kelvin Ong said in a note today. ....

Jakarta Raya , Kuala Lumpur , Ching Weng Jin , Clement Chua , Group Holdings Bhd , Public Investment Bank Bhd , Pt Bank , Kenanga Research , Ambank Research , Holdings Bhd , Niaga Tbk , Bank Research , Kelvin Ong , ஜகார்த்தா ராய , குவாலா லம்பூர் , சிங் வெங் ஜின் , கிளெமென்ட் சுய , குழு ஹோல்டிங்ஸ் ப்ட் , பொது முதலீடு வங்கி ப்ட் , ட் வங்கி , கெனாங்க ஆராய்ச்சி , ஹோல்டிங்ஸ் ப்ட் , வங்கி ஆராய்ச்சி , கெல்‌விந் ஓங் ,

Analyst mixed on CIMB Group despite robust Q1 results from Indonesia unit


KUALA LUMPUR, May 2 (Bernama): Analysts are mixed on CIMB Group Holdings Bhd’s outlook despite its 92.5 per cent-owned Indonesian banking unit, PT Bank CIMB Niaga Tbk (Niaga) reported a robust financial results in the first quarter ended March 31,2021 (Q1 FY21).
AmBank Research has maintained a buy” recommendation on CIMB Group with an unchanged fair value of RM5.50 per share based on FY22 return on equity (ROE) of 9.0 per cent, leading to a price-to-book value ratio 0.9 times.
The strong Niaga’s earnings in 1QFY21 led to an ROE of 10.5 per cent.
With the number of COVID-19 cases in Indonesia has been on a declining trend, this, coupled with the optimism on the country’s vaccination programme, are likely to improve consumer and business sentiment leading to an economic recovery in Indonesia, ” analyst Kelvin Ong said in a note today. ....

Jakarta Raya , Kuala Lumpur , Ching Weng Jin , Clement Chua , Group Holdings Bhd , Public Investment Bank Bhd , Pt Bank , Kenanga Research , Ambank Research , Holdings Bhd , Niaga Tbk , Bank Research , Kelvin Ong , ஜகார்த்தா ராய , குவாலா லம்பூர் , சிங் வெங் ஜின் , கிளெமென்ட் சுய , குழு ஹோல்டிங்ஸ் ப்ட் , பொது முதலீடு வங்கி ப்ட் , ட் வங்கி , கெனாங்க ஆராய்ச்சி , ஹோல்டிங்ஸ் ப்ட் , வங்கி ஆராய்ச்சி , கெல்‌விந் ஓங் ,

Kenanga Research maintains 'outperform' call on Axiata, TP unchanged at RM4.40 | Money


Wednesday, 28 Apr 2021 11:55 AM MYT
KUALA LUMPUR, April 28 ― Kenanga Research has maintained its “outperform” call on Axiata Group with an unchanged sum of parts (SoP)-driven target price (TP) of RM4.40 after its 66.4 per cent-owned unit in Indonesia, PT XL Axiata Tbk (XL) recorded within-expectation results for the first quarter ended March 31, 2021 (1Q21).
The research house said XL’s 1Q21 normalised profit of IDR 230 billion (RM65.1 million) was within the street’s and its expectation, while its revenue of IDR 6.25 trillion also came in within at 24 per cent of Kenanga Research’s full-year estimate.
“XL’s performance is holding up well in the face of fierce competition, and we continue to believe that Axiata’s regional operating companies (OpCos) stand to benefit from subscriber growth, especially in Indonesia and Bangladesh, as they recover from the pandemic,” it said in a note today. ....

Jakarta Raya , Kuala Lumpur , Ad Daw Ah , Axiata Group , Hong Ck Hutchison Holdings , Kenanga Research , Ooredoo Group , Hong Kong Based , Kenanga Research , ஜகார்த்தா ராய , குவாலா லம்பூர் , ஹாங் சி.கே. ஹட்ச்சன் ஹோல்டிங்ஸ் , கெனாங்க ஆராய்ச்சி , ஹாங் காங் அடிப்படையிலானது ,