Bursa Alert
Global Market
NewsMBSM can still monetise on properties: OSK (1171)
Page 1 of 1
MBSM can still monetise on properties: OSK (1171)
by hlk Thu 19 Jul 2012, 20:16
KUALA LUMPUR: Malaysia Building Society (MBSB) still has many opportunities to monetise the property it currently owns, says OSK Research Sdn Bhd.
It said MBSB's proposed disposal of its wholly-owned subsidiary, Gadini SB to Ken Holdings Bhd, was in line with the group's objective of disposing of non-income generating assets, foreclosed properties and properties acquired previously.
"The proposed sale is expected to result in a gain on disposal of some RM6.75 million, which will translate into an increase in its earnings per share by about 0.48 sen, based on our financial model.
"Assuming MBSB decides to reward shareholders by paying out this gain in full as dividend, the stock's gross dividend yield would increase from 5.5 per cent to 5.7 per cent, based on our projections," it said in a research note today.
After disposing of Gadini, MBSB would still own nine properties with an estimated book value of RM238.4 million, OSK added. -- BERNAMA
It said MBSB's proposed disposal of its wholly-owned subsidiary, Gadini SB to Ken Holdings Bhd, was in line with the group's objective of disposing of non-income generating assets, foreclosed properties and properties acquired previously.
"The proposed sale is expected to result in a gain on disposal of some RM6.75 million, which will translate into an increase in its earnings per share by about 0.48 sen, based on our financial model.
"Assuming MBSB decides to reward shareholders by paying out this gain in full as dividend, the stock's gross dividend yield would increase from 5.5 per cent to 5.7 per cent, based on our projections," it said in a research note today.
After disposing of Gadini, MBSB would still own nine properties with an estimated book value of RM238.4 million, OSK added. -- BERNAMA
hlk- Moderator
- Posts : 19013 Credits : 45112 Reputation : 1120
Join date : 2009-11-14
Location : Malaysia
Similar topics» LBS may monetise China assets
» Oct 21-Companies in the news IOI Properties, CIMB Group, Hong Leong Bank, Bina Puri, Top Glove and Hunza Properties
» MBSB to sell property unit to Ken Holdings for RM56.1m (1171)
» MBSB posts H1 pre-tax profit of RM223m (1171)
» Kenanga keeps 'outperform' call on MBSB (1171)
» Oct 21-Companies in the news IOI Properties, CIMB Group, Hong Leong Bank, Bina Puri, Top Glove and Hunza Properties
» MBSB to sell property unit to Ken Holdings for RM56.1m (1171)
» MBSB posts H1 pre-tax profit of RM223m (1171)
» Kenanga keeps 'outperform' call on MBSB (1171)
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum