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[公司专区] 1171 MBSB 马建屋

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发表于 2011-7-7 20:53 | 显示全部楼层
GLICs to pare down stakes in prominent companies
By JEEVA ARULAMPALAM
jeeva@thestar.com.my
Thursday July 7, 2011

PETALING JAYA: Government-linked investment companies (GLICs) are likely to pare down their stakes in the usual suspects such as Malaysia Airlines (MAS), Malaysia Airports Holdings Bhd (MAHB), Proton Holdings Bhd and Malaysia Building Society Bhd (MBSB).

While analysts and market observers said it was difficult to pinpoint which companies the GLICs would choose to divest, either by an outright sale or through a reduction of stake, the more prominent government-linked companies (GLCs) mentioned above have been ripe for divestment.

At the seventh Economic Transformation Programme update on Tuesday, the Government said it had identified 33 companies under its divestment plan it will pare down its stake in five companies, list seven companies and have an outright sale of 21 companies.

Of the 33 companies, 24 will see the exercise carried out between this year and 2012. This essentially means that there will be 19 outright sales and the paring down of five companies in this time frame.

OSK Investment Bank Bhd head of equity capital markets director Gan Kim Khoon said the manner an outright sale will be executed depends on whether the GLIC has a controlling stake in the GLC or not.

Gan said if a GLIC had a controlling stake, it would not be able to sell its stake into the open market directly as it had to search for suitable buyers. This can be done through a book-building exercise or direct placement of shares.

“The GLIC would also not be able to dump its shares into the open market as this would create a disorderly market,” he added.

A local research head said that MBSB was a key divestment candidate, considering that both the Employees Provident Fund (EPF) and Permodalan Nasional Bhd (PNB) have stakes in the company, at 65.5% and 13.81%, respectively. EPF and PNB are identified as GLICs, alongside Khazanah Nasional Bhd, Lembaga Tabung Haji, Kumpulan Wang Persaraan (KWAP) and Lembaga Tabung Angkatan Tentera (LTAT).

For FY10 ended Dec 31, MBSB posted a net profit of RM146mil on revenue of RM769.9mil, an increase of 155% and 43.1% respectively.

Meanwhile, analysts said that MAHB, Proton, MAS and SilTerra Malaysia Sdn Bhd are some of the companies under Khazanah's stable that could be part of the divestment plans.

A local aviation analyst said that Khazanah may look to further sell-down its stake in MAHB, considering that the latter was a mature asset and there was nothing much Khazanah could do to add value to this asset.

Khazanah has placed out MAHB shares three times since September 2009, with the first tranche being a 5% stake in September 2009, followed by the second tranche of 7.7% in March 2010 and the final stake sale of 6% late last year.

Khazanah's equity stake in MAHB now stands at 54%.

“The last divestment was done at RM6 per share, so we may see the next divestment take place at a target price of RM7. MAHB has drawn the interest of several institutional investors and since it will be difficult for the market to absorb one big lump sale, it will have to be done through a book building exercise,” he said.

While calls for Khazanah to reduce its stake in MAS have been made many times before, analysts say that it is unlikely that the airline would attract strategic investors with its unattractive market price and poor show of results for now.

Khazanah stake in MAS is some 69.37% while EPF owns a 10.71% stake.

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发表于 2011-7-8 03:06 | 显示全部楼层
怎么说两三年检视什么?又派又送什么????
kingsleylim 发表于 2011-7-8 01:32


    请再爬回以前文章...  = =
    MBSB 7配5发附加股...
    然后又1配1送凭单...  

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发表于 2011-7-13 16:06 | 显示全部楼层
大家给它些耐性吧。。。如果没耐性就不要买这股。。。不然买了又放。。。一天升一天跌的。。。迟早股价被拖垮~我没钱加码了~

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发表于 2011-7-13 16:19 | 显示全部楼层
你们注意下这几天都有人买整100,000unit,不知是不是试试要炒上,也不知他们在抄不上就卖出了吗???今天他们买在1.4和1.41的价。。前两天就在1.46的价。。我觉得应该像王小虎的歌“没这么简单”~大家耐心点~加油~刚好现在市场不好,不然不会在1.53被压价了。。。希望能破之前的1.68吧。。。祈祷~哈哈~

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发表于 2011-7-13 22:26 | 显示全部楼层
Malaysia Building a 'buy', stock jumps


Malaysia Building Society Bhd rose for the first time in four trading sessions in Kuala Lumpur after OSK Research Sdn Bhd newly rated the stock as a “buy” with a fair value of RM2.35.

Its shares climbed 2.2 per cent to RM1.41 at 9:16 a.m. local time, set for their biggest gain since July 7. -- Bloomberg




Read more: Malaysia Building a 'buy', stock jumps http://www.btimes.com.my/article ... icle/#ixzz1RzmID7Ck

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发表于 2011-7-14 18:11 | 显示全部楼层
MBSB in a different league now      

Malaysia Building Society Bhd
(July 13, RM1.39)
Initiating overage at RM1.38 with buy rating and fair value of RM2.35: As an exempt finance company, MBSB is allowed to undertake the financing business in the absence of a banking licence. Under the leadership of CEO Datuk Ahmad Zaini Othman, the company has since 2009 undertaken major reform. From being a traditional mortgage lender, MBSB has moved to a more dynamic platform offering more products, including retail and corporate loans.

The company has carved a niche in the provision of personal financing to civil servants. It can make direct salary deductions, having obtained the code from Angkatan Koperasi Kebangsaan Malaysia (Angkasa) in 2005. The total loans portfolio in this niche segment has grown in prominence, surging from 1% of MBSB’s entire loan base in FY05 to 27.5% in FY10, while its personal loan base has more than quadrupled, from RM92.2 million to RM4 billion, in just five years.

Currently, MBSB has extended RM90 million in personal loans to civil servants through Angkasa, compared with an estimated total market worth RM143 billion, a gap which indicates a potential market of RM53 billion. We see huge potential for MBSB in leveraging the growth in personal financing for civil servants.

Its high impaired loans ratio due to legacy accounts originated from bridging and revolving loans extended to property development projects during the 1997 Asian financial crisis has been trending lower in the past few years. On a brighter note, these loans are collateralised by properties with an estimated market value of RM8.2 billion, which is adequate to cover the RM4.9 billion in gross impaired loans in FY10. Furthermore, MBSB has fulfilled the minimum risk-weighted capital ratio (RWCR) of 7% and achieved the internal target of 7% for core capital ratio (CCR), the minimum required under Basel III. Thus, the company’s improved asset quality and capital buffer will firmly anchor its future growth.

We initiate coverage on MBSB with a “buy” call and a fair value of RM2.35. Our valuation is based on a 2.6 times FY11 book value of 90 sen, by applying a 4% growth rate, cost of equity of 11% and return on equity of 22.8%. With earnings on the uptrend, strong growth in personal loans to civil servants and better risk management, we are confident that MBSB will be able to scale new heights. — OSK Research, July 13

http://www.theedgemalaysia.com/i ... ent-league-now.html

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发表于 2011-7-15 11:46 | 显示全部楼层
MBSB in a different league now       

       


Written by Financial Daily          
Thursday, 14 July 2011 10:57

Malaysia Building Society Bhd
(July 13, RM1.39)
Initiating overage at RM1.38 with buy rating and fair value of RM2.35: As an exempt finance company, MBSB is allowed to undertake the financing business in the absence of a banking licence. Under the leadership of CEO Datuk Ahmad Zaini Othman, the company has since 2009 undertaken major reform. From being a traditional mortgage lender, MBSB has moved to a more dynamic platform offering more products, including retail and corporate loans.

The company has carved a niche in the provision of personal financing to civil servants. It can make direct salary deductions, having obtained the code from Angkatan Koperasi Kebangsaan Malaysia (Angkasa) in 2005. The total loans portfolio in this niche segment has grown in prominence, surging from 1% of MBSB’s entire loan base in FY05 to 27.5% in FY10, while its personal loan base has more than quadrupled, from RM92.2 million to RM4 billion, in just five years.

Currently, MBSB has extended RM90 million in personal loans to civil servants through Angkasa, compared with an estimated total market worth RM143 billion, a gap which indicates a potential market of RM53 billion. We see huge potential for MBSB in leveraging the growth in personal financing for civil servants.

Its high impaired loans ratio due to legacy accounts originated from bridging and revolving loans extended to property development projects during the 1997 Asian financial crisis has been trending lower in the past few years. On a brighter note, these loans are collateralised by properties with an estimated market value of RM8.2 billion, which is adequate to cover the RM4.9 billion in gross impaired loans in FY10. Furthermore, MBSB has fulfilled the minimum risk-weighted capital ratio (RWCR) of 7% and achieved the internal target of 7% for core capital ratio (CCR), the minimum required under Basel III. Thus, the company’s improved asset quality and capital buffer will firmly anchor its future growth.

We initiate coverage on MBSB with a “buy” call and a fair value of RM2.35. Our valuation is based on a 2.6 times FY11 book value of 90 sen, by applying a 4% growth rate, cost of equity of 11% and return on equity of 22.8%. With earnings on the uptrend, strong growth in personal loans to civil servants and better risk management, we are confident that MBSB will be able to scale new heights. — OSK Research, July 13


This article appeared in The Edge Financial Daily, July 14, 2011.

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发表于 2011-7-20 14:13 | 显示全部楼层
Additional Listing Announcement (ALA)
Reference No MBS-110720-97168

Company Name
:
MALAYSIA BUILDING SOCIETY BERHAD
Stock Name
:
MBSB  
Date Announced
:
20/07/2011

1. Details of Corporate Proposal
Whether the corporate proposal involves the issuance of new type
and new class of securities?
:
No
Types of corporate proposal
:
Others
Details of corporate proposal
:
Instrument Conversion ("Warrant")
No. of shares issued under this corporate proposal
:
1,800
Issue price per share ($$)
:
MYR 1.000
Par Value ($$)
:
MYR 1.000
   Latest issued and paid up share capital after the above corporate proposal in the following
Units
:
1,215,473,094
Currency
:
MYR 1,215,473,094.000
Listing Date
:
21/07/2011

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发表于 2011-7-23 13:47 | 显示全部楼层
Push...Push.....

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发表于 2011-7-24 14:42 | 显示全部楼层
回复 84# bosia


    那么冷眼前辈大姿本的投入这支股,那就是这支股是很有赚头的咯,跟他买进应该没什么问题吧?

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发表于 2011-7-24 15:56 | 显示全部楼层
回复  bosia


    那么冷眼前辈大姿本的投入这支股,那就是这支股是很有赚头的咯,跟他买进应该没什么 ...
kingsleylim 发表于 2011-7-24 14:42



    对自己~对MBSB也要有信心~  多做功课就不会怕~
加油哦!

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发表于 2011-7-24 19:21 | 显示全部楼层
本帖最后由 bosia 于 2011-7-24 19:30 编辑

回复 97# kingsleylim

    它是....
    Epf 的子公司.. 专门贷款给公务员.. 直接从账户扣款还钱.. 正准备转型成银行..
    只凭这几点.. 你有信心吗??   ^_^

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发表于 2011-7-24 20:19 | 显示全部楼层
直接从贷款者扣钱 这样变成坏账的几率就会减低很多 而且还是公务员 都是铁饭碗来地

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发表于 2011-7-25 00:25 | 显示全部楼层
回复 99# bosia


    只要他們還做着工,錢就收得回!

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发表于 2011-7-25 00:39 | 显示全部楼层
本帖最后由 kingsleylim 于 2011-7-25 00:47 编辑
回复  kingsleylim

    它是....
    Epf 的子公司.. 专门贷款给公务员.. 直接从账户扣款还钱.. 正准备 ...
bosia 发表于 2011-7-24 19:21



    这几点确实是很稳重。。。很值得投资,但是要怎么去算他这股票的价钱是属于高还是低啊以目前rm1.41?请问bosia兄mbsb是什么时候上市的哦?当年上市时股价开盘是什么价位呢?怎么那么多年了股价还是在rm1.4xx上下呢?

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发表于 2011-7-25 00:42 | 显示全部楼层
本帖最后由 kingsleylim 于 2011-7-25 00:50 编辑
别忘了.. 现在所看到的数据.. 都只是在反映过去...
  股票买的是它未来的前景.. 而未来是充满着许多 ...
bosia 发表于 2011-7-7 13:24



首日上市價量齊升‧馬屋業WA溢價27.5仙
大馬財經 2011-06-08 10:31
(吉隆坡7日訊)馬屋業WA(MBSB-WA, 1171WA, 主板金融組)首日上市價量齊升,股價盤中一度大漲61%至80.5仙,成交量更是熱爆全場。

一度漲30.5仙

該憑單以起17仙或34%的67仙開盤,隨後在買盤持續湧入下,漲幅不斷擴大,最高上漲30.5仙或61%,至80.5仙,但後漲幅遭套利賣盤稀釋,最終以77.5仙掛收,漲27.5仙或55%,成交量高達2千946萬9千600單位,為全日最熱門股項。

不過,市場人士認為,馬屋業WA行使價高達每股1令吉,可能抑制其現有漲勢。

母股馬屋業開低走低

母股馬屋業(MBSB, 1171, 主板金融組)低開低走,以跌2仙的1令吉48仙開盤,儘管盤中一度上漲3仙至1令吉53仙全日最高,但終不敵賣盤壓力,最終以1令吉48仙掛收,下挫2仙或1.33%,成交量為889萬零300股。

馬屋業是在今年2月宣佈,計劃以7配5比例發售5億零698萬5千548股附加股,隨後以1配1比例送5零698萬5千548股憑單,籌措5億令吉營運資本。(星洲日報/財經)

请问他发行wa,是不是因为公司没钱了要凑钱啊?一家公司的储备金够强的大的话那还需要发wa吗?小弟不解可以教教我吗

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发表于 2011-7-25 00:55 | 显示全部楼层
回复 103# kingsleylim


  for  expansion

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发表于 2011-7-25 00:59 | 显示全部楼层
回复 104# lockjy


    epf的子公司啊会没钱扩张的@@

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发表于 2011-7-25 01:09 | 显示全部楼层
本帖最后由 lockjy 于 2011-7-25 01:11 编辑

回复 105# kingsleylim


    EPF是大股東並不代標他必須出錢啊。。除非讓他透過撥款爭加股分就不一樣

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发表于 2011-7-25 01:15 | 显示全部楼层
首日上市價量齊升‧馬屋業WA溢價27.5仙
大馬財經 2011-06-08 10:31 (吉隆坡7日訊)馬屋業WA( ...
kingsleylim 发表于 2011-7-25 00:42



    建议你爬文.. 从第一张帖开始看起....  ^^

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