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CGS-CIMB projects banking sector's CY21 net profit to grow 2.9% even when factoring in maximum modification loss from loan moratorium


CGS-CIMB projects banking sector’s CY21 net profit to grow 2.9% even when factoring in maximum modification loss from loan moratorium
The Edge
13 hrs ago
Izzul Ikram
© Provided by The Edge
KUALA LUMPUR (July 19): CGS-CIMB Research has maintained its “overweight” call on the banking sector as it still projects net profit growth of 2.9% for CY21 even when factoring in maximum modification loss due to the automatic loan moratorium this year.
The research house noted in a report today that “banks [would] have to incur modification loss due to the automatic loan moratorium but the quantum would be lower than the RM1.58 billion last year”.  ....

Kuala Lumpur , Mohd Muazzam Mohamed , Alliance Bank , Public Bank , Hong Leong Investment Bank , Muazzam Mohamed , Edge Malaysia , குவாலா லம்பூர் , மொஹட் மூஅஜ்ஜம் மொஹாமெட் , கூட்டணி வங்கி , பொது வங்கி , ஹாங் லியோங் முதலீடு வங்கி , மூஅஜ்ஜம் மொஹாமெட் , விளிம்பு மலேசியா ,

MHB, Tasco, Axis REIT, LuxChem, Widad, BIMB, CIMB, TM, Maybank and Hong Leong Bank


KUALA LUMPUR (April 21): Based on corporate announcements and newsflow today, companies in focus on Thursday (April 22), may be as follows: Malaysia Marine and Heavy Engineering Holdings Bhd, Tasco Bhd, Axis Real Estate Investment Trust, Luxchem Corp Bhd, Widad Group Bhd, BIMB Holdings Bhd, CIMB Group Holdings Bhd, Telekom Malaysia Bhd, Malayan Banking Bhd and Hong Leong Bank Bhd.
Malaysia Marine and Heavy Engineering Holdings Bhd (MHB) disclosed today that the value for the engineering, procurement, construction, transportation and installation, and hook-up and commissioning services (EPCIC) contract secured from SapuraOMV Upstream (Sarawak) Inc is RM1 billion. The duration of the contract in the Jerun gas field, which lies in the SK408W block off the coast of Bintulu, is 40 months.  The group had announced the contract awarded to its wholly-owned unit Malaysia Marine and Heavy Engineering Sdn Bhd (MMHE) last Thursday. ....

Kuala Lumpur , East Malaysia , Malaysia General , Sungai Limau , Bhd Maybank , Sdn Bhd , Tasco Bhd , Mohd Muazzam Mohamed , Group Holdings Bhd , Engineering Holdings Bhd , Bank Islam , Widad Group Bhd , Axis Real Estate Investment Trust , Luxchem Corp Bhd , Bank Islam Malaysia Bhd , Hong Leong Bank Bhd , Thai Bank , Sapuraomv Upstream Sarawak Inc , Global Solutions , Axis Real Estate Investment , Global Cyber Security Operations Centre , Holdings Bhd , Malaysia Marine , Heavy Engineering Holdings Bhd , Telekom Malaysia Bhd , Malayan Banking Bhd ,