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NewsM & A Securities maintains Hold on Maybank 1155, fair value RM9.40
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M & A Securities maintains Hold on Maybank 1155, fair value RM9.40
by Cals Wed 10 Apr 2013, 08:56
M & A Securities maintains Hold on Maybank, fair value RM9.40
Business & Markets 2013
Written by theedgemalaysia.com
Wednesday, 10 April 2013 08:43
A + / A - / Reset
KUALA LUMPUR (April 10): M & A Securities has maintained its Hold rating on MALAYAN BANKING BHD [] with a fair value RM9.40 after the banking launched its Maybank Luxury Edition, a single premium closed-ended investment-linked insurance plan in Malaysia.
In a note Wednesday, the research house said the relatively new product in the investment market was actually a testament to crowded industry, adding that Maybank’s extensive network was an advantage in this environment in that it can always market new products.
“The fair value is derived from a weighted average of its 66.66% P/E FY12 multiple of 15.32x (average 3 year) multiplied by its EPS FY13f of 72 sen and its prospective (33.33%) P/B FY12 of 2.1x (average 3 year),” it said.
Citing a newsreport, M & A Securities wrote that the Maybank Luxury Edition offered a combination of insurance protection and investment for potentially higher returns, all within one single plan.
“It is the first such investment-linked plan in Malaysia which is tied to the luxury market.
“The largest financial group in the country targets to achieve its cap of RM275 million in sales by the time the fund closes on 7 May 2013,” it said.
Business & Markets 2013
Written by theedgemalaysia.com
Wednesday, 10 April 2013 08:43
A + / A - / Reset
KUALA LUMPUR (April 10): M & A Securities has maintained its Hold rating on MALAYAN BANKING BHD [] with a fair value RM9.40 after the banking launched its Maybank Luxury Edition, a single premium closed-ended investment-linked insurance plan in Malaysia.
In a note Wednesday, the research house said the relatively new product in the investment market was actually a testament to crowded industry, adding that Maybank’s extensive network was an advantage in this environment in that it can always market new products.
“The fair value is derived from a weighted average of its 66.66% P/E FY12 multiple of 15.32x (average 3 year) multiplied by its EPS FY13f of 72 sen and its prospective (33.33%) P/B FY12 of 2.1x (average 3 year),” it said.
Citing a newsreport, M & A Securities wrote that the Maybank Luxury Edition offered a combination of insurance protection and investment for potentially higher returns, all within one single plan.
“It is the first such investment-linked plan in Malaysia which is tied to the luxury market.
“The largest financial group in the country targets to achieve its cap of RM275 million in sales by the time the fund closes on 7 May 2013,” it said.
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