|
| |
Additional Listing Hints : Click here to modify the Visible Columns.
  aklobi Eid Mubarak to all! Let's pray to Allah that the price will be above 3 next year ;) 09/07/2022 3:05 PM aklobi 50 cent per share special dividend will be declared some time in the near future. I think the price will gradually rise towards then. 18/07/2022 7:07 PM hng33 US rate hike is good feel factor for local bank + incoming special dividend 20/07/2022 12:39 PM hng33 Affin CEO & preseident openly buy share, he must know insiders news, big special dividend is coming. Waiting to be rewarded :D) 22/07/2022 7:51 PM redhotpepper @Aklobi, 50 sen dividend? What's the logic? You want to share some insight/formula on how you get the 50 sen dividend? 24/07/2022 12:07 AM aklobi @redhotpepper: i read it somewhere and I could always be wrong as I am not in the midst of the market in Malaysia and I don't speak Malay. Seems you're still sour when I was right about the "resistance" comment and the fact the share price shot from 1.86 a month ago to 2.05 today. If you want to be grumpy, by all means be grumpy, but with someone else. 25/07/2022 3:34 PM aklobi @TheContrarian, I am a Saudi Arabian currently living in London. I've been buying Affin since 2014. 26/07/2022 1:09 AM redhotpepper Hi @Aklobi, I see. Thanks for the "Insight". :) I am not grumpy, just curious :) 26/07/2022 5:06 PM aklobi @Jonathan Keung, it ticks so many boxes: 1- A bank 2- Islamic 3- Backed by a strong institution ( Malaysia Army I think) 4- Profitable 6- Potential for takeover with a strong book value (more than double the last time I checked). Nothing to dislike. Correct me if I am wrong. Add points as you see fit 27/07/2022 4:11 PM warrantKing They are guessing special dividend at 15sens , as AFFIN need the capital to grow the Loan segment. Collect the golden eggs , not killing the golden goose . 28/07/2022 10:51 AM hng33 Asset disposal monetize RM 1.5 billion, cash out 70sen/share. Affin affird to payout at least 30% to reward shareholder 28/07/2022 11:03 AM redhotpepper Its CeO is also buying a lot of share, must be anticipating some event...... 29/07/2022 3:25 PM TheContrarian @aklobi, I am curious why you have invested in Affin but not the bigger banks? 29/07/2022 4:44 PM aklobi @TheContrarian, The bigger banks didn't tick all the boxes I mentioned above, at the time. I was looking for higher potential. 29/07/2022 5:51 PM redhotpepper From an investment bank: We maintain our GGM-derived PBV TP of RM2.45 (COE: 11.3%, TG: 3.0%, ROE: 7%) and OP call. Post a meeting with the group at its recently launched TRX Headquarters, we are convinced of AFFIN achieving its ambitious FY22 targets with some resiliency against economic headwinds. Disposal of its business units will help to fuel its key banking division’s endeavours. There is no adjustment to our TP based on ESG of which it is given a 3-star rating as appraised by us. AFFIN is one of our 3QCY22 sector top picks. Key takeaways are as follows: - Disposal of AHAM to boost organic growth in banking division. The sale of AHAM will unlock RM1.54b in cash, likely to be sealed by the end of July 2022. This will elevate CET-1 levels to 16% (from 13.7%). The group opines that injecting said capital could stimulate the group’s banking units and add NII of RM190m (+11% to current estimates) in two years. Meanwhile, due to non-compete agreement, AFFIN will abstain from any new asset management ventures for 18 months post sale. - Capital considerations first and then dividends. The group opines that it will ensure working capital targets are sufficiently fulfilled before it considers the quantum of special dividends that may be paid. Of the RM1.54b proceeds, if we were to estimate a payout of 25% to shareholders, this could translate to c.18.0 sen in special dividends or 9% yield while still keeping CET-1 level at c.15.8%. - AXA to also close in 3QFY22. The disposal of stakes in AXA Affin Life and General to the JV with MPI Generali (estimated to be completed end-Aug 2022) will provide additional RM155m cash while still being earnings accretive as an associate. That said, operational integration of this JV is expected to only materialise by 1QFY23. Post merger, the combined gross written premium is expected to stand at c.RM2.0b, behind market leader Allianz’s RM2.35b book. There could be a two-pronged growth enjoyed with Generali’s non-cannibalistic product offerings on top of operational synergies from the merged entity, uplifting the segment’s overall contribution to beat its historical 5% of group earnings, going forward. - Unhindered by recent macro developments. The group remains confident that its 12% loans growth (industry highest) target for FY22 is attainable. Although recent OPR hikes pose headwinds to affordability, strength of the SMEs is expected to remain solid as the local economic growth remains on track. This will be balanced by the launch of its mobile banking app in 4QFY22 to keep CASA and funding costs sticky. Meanwhile, NOII will be cushioned by encouraging reception of its wealth products amidst sluggish investment and trading performance. Post update, we leave our FY22E/FY23E assumptions unchanged. Maintain OUTPERFORM and TP of RM2.45. Our TP is based on a GGM-derived PBV of 0.48x (COE: 11.3%, TG: 3.0%, ROE: 7%) on our FY23E BVPS of RM5.07. We believe AFFIN’s monetisation of its business units (AHAM and AXA Affin) could progressively refine AFFIN’s identity as a more comparable traditional bank akin to its listed peers, which may at times fetch a higher valuation for the group. At the meantime, its dividend yield prospects of 5-6% (excluding possible special dividends) could incentivise investors to overlook its low ROE levels which should gradually be enhanced with its growth plans. Risks to our call include: (i) higher-than-expected margin squeeze, (ii) lower-than-expected loans growth, (iii) worse-than-expected deterioration in asset quality, (iv) slowdown in capital market activities, (v) unfavourable currency fluctuations, and (vi) changes to OPR. 01/08/2022 8:18 AM redhotpepper Yes a slow moving but safe counter. Need to have a lots of patience. 02/08/2022 9:26 AM hng33 Affin CEO is busy accumulating share in open market ahead of his own decision making on special dividend soon 03/08/2022 2:00 PM hng33 https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3280812 04/08/2022 11:48 AM aklobi To all the doubters, the purchase of Affin CEO of Affin shares (at these prices) should be A huge boost of confidence in the share. Rm3 shouldn't be impossible within 12 months. 04/08/2022 3:11 PM hng33 Be patient, allow some time for gestation, share price is currently at the upper band level, it just needs another booster special dividend to propel share price to breakout. 05/08/2022 10:37 AM stockraider Once special div out info is out...this share will fly loh! While cheap ..Buy hold now mah! 05/08/2022 1:54 PM hng33 Based on projected time that special will paid out to shareholders by end of these year, the estimated timeframe is 1. Payment date: Dec 2. Ex dividend date: Nov 3. Announced dividend datw : Oct 4. Bank Negara approval date: Sept 5. Affin board of director proposed special dividend date : Aug 08/08/2022 9:48 AM stockraider Should like that lah! Based on projected time that special will paid out to shareholders by end of these year, the estimated timeframe is 1. Payment date: Oct- Nov 2. Ex dividend date: Sept-Oct 3. Announced dividend date : Aug-sept 4. Bank Negara approval date: Aug 5. Affin board of director proposed special dividend date : Aug 08/08/2022 3:55 PM aklobi Latest Kenanga research states expected 2023 Book value per share is around 5.07. 09/08/2022 4:30 AM hng33 The current rate is 2.25%, it is expect to hike further 2 x 0.25% by year-end to 2.75% and further 0.25% to 3% by Q1 2022 09/08/2022 9:09 AM stockraider Good news coming loh! Posted by hng33 > 2 hours ago | Report Abuse Personally, expect 25sen special dividend 10/08/2022 12:59 PM  | |
