Malaysia Building Society Berhad

$MBSB / 1171 (MALAYSIA BUILDING SOCIETY BERHAD)
Research Report by KENANGA

$MBSB / 1171 (MALAYSIA BUILDING SOCIETY BERHAD)
Research Report by Kenanga

$MBSB / 1171 (MALAYSIA BUILDING SOCIETY BERHAD)
Research by Kenanga

$MBSB / 1171 (MALAYSIA BUILDING SOCIETY BERHAD)
Research by Kenanga
Underperform - TP RM0.59

"Larger Pipes Offset by More Allowances"

MBSB’s 1HFY24 net profit (-16%) met our expectations. The group continues to juggle taming high credit costs with expanding its income streams. With several headline targets seemingly behind their full-year targets (i.e. financing growth, gross impaired financing, ROE), MBSB may need to take larger strides in 2HFY24 to meet them. Maintain UNDERPERFORM and GGM-derived PBV TP of RM0.59.

Analyst:
Clement Chua
clement.chua@kenanga.com.my

Titan Trading Notes For Tuesday [20/8/2024]:

$KLSE-KLCI had a huge rally today, breaking out all the way towards the 1648 points region with the banking sector lifting the entire index up. Overall market sentiment however was mixed as we still saw almost 550 counters closing red for the day. Daily trading volume remained average around the 3.89 billion mark.

Main stocks that showed strong buying momentum would be the likes of TOPGLOV, PBBANK, MBSB, SPSETIA, CIMB, RHBBANK, MUIPROP, MAYBANK, HARTA, AMBANK, SIME, SFPTECH, and HUBLINE. All of which were able to sustain their rallies throughout the day on the top volumes list.

$TOPGLOV / 7113 (TOP GLOVE CORPORATION BHD) , following the MPOX outbreak and declared as an emergency, gapped up and rallied all the way towards the RM 1.03 regions with huge volume and buying momentum today.

For now still remaining in a downtrend here but as long as able to sustain the buying momentum, the MPOX outbreak could serve as a catalyst for glove stocks like TOPGLOV, potentially bringing it back towards the RM 1.15+ regions in the coming weeks.

These few days, will be quite crucial for TOPGLOV here to see if it's able to sustain the buying momentum.

$MBSB / 1171 (MALAYSIA BUILDING SOCIETY BERHAD) since breaking out towards the RM 0.90+ regions, had been retracing over the past few months here, heading all the way back towards the RM 0.73+ major support levels earlier this month.

Since them, had been able to bounce back very strongly and today, broke out from its RM 0.835+ main downtrend resistance with huge volume, breaking out towards the RM 0.86+ regions today.

Will be monitoring MBSB closely here as seems to be starting back an uptrend here.

$PERDANA / 7108 (PERDANA PETROLEUM BERHAD) since retracing back towards the RM 0.37+ major support levels earlier this month, had been able to climb back up strong towards the RM 0.45+ regions on the daily chart.

For now looking quite strong and healthy on an uptrend here. As long as able to sustain above its RM 0.435+ main support levels, could continue on to trend up towards and beyond the RM 0.50+ regions in the coming weeks.

Will be monitoring PERDANA closely here

Changes in Sub. S-hldr's Int (Section 138 of CA 2016) - EMPLOYEES PROVIDENT FUND BOARD

$MBSB / 1171 (MALAYSIA BUILDING SOCIETY BERHAD)

MBSB - CHANGE OF NAME

Change of Company Name - MBSB BERHAD

MBSB - Notice of Book Closure

Final Dividend

$MBSB / 1171 (MALAYSIA BUILDING SOCIETY BERHAD)

PETALING JAYA: Malaysia Building Society Bhd (MBSB) has set a financing portfolio growth target of RM44 billion this year from RM42 billion last year, said group chief executive officer Rafe Haneef.

© New Straits Times Press (M) Bhd

PETALING JAYA: Malaysia Building Society Bhd (MBSB) has set a financing portfolio growth target of RM44 billion this year from RM42 billion last year, said group chief executive officer Rafe Haneef. 

General Meetings: Outcome of Meeting

$MBSB / 1171 (MALAYSIA BUILDING SOCIETY BERHAD)
Research by Kenanga
Under Perform – TP of MYR 0.59

“Hopeful to Continue its Momentum ”

We maintain our GGM-derived PBV TP of RM0.59 (COE: 9.2%, TG: 2.0%, ROE: 6.0%) and UNDERPERFORM call with forecasts relatively unchanged post briefing The group reflected on further efforts to drive profits. While we are encouraged by new streams brought about by MIDF’s business units, we prefer to remain conservative with the group’s medium-term trajectory going forward as it could be exposed to integration risks.

Analyst(s):
Clement Chua
clement.chua@kenanga.com.my

KUALA LUMPUR: Malaysia Building Society Bhd (MBSB) has announced that Datuk Nor Azam M. Taib, the chief executive officer of MBSB Bank Bhd (MBSB Bank), will step down on June 30, 2024.

$MBSB / 1171 (MALAYSIA BUILDING SOCIETY BERHAD)
Research by Kenanga
Underperform – TP RM0.59

“More Fees Incoming"

MBSB’s 1QFY24 core net profit (+6% YoY) beat expectations, thanks to stronger non-interest income on contributions from MIDF’s business units. This led us to upgrade our FY24F-FY25F earnings by 14%-5%. While the group appears to be gradually improving, further effort may be needed to see earnings meaningfully turn around in the near term. Maintain UNDERPERFORM and GGM-derived PBV TP of RM0.59.

Analyst:
Clement Chua
clement.chua@kenanga.com.my

KUALA LUMPUR: Malaysia Building Society Bhd’s (MBSB) key strategy for 2024 is to continue raising current accounts and savings accounts (CASA) level and improve its funding costs.

Quarterly rpt on consolidated results for the financial period ended 31/03/2024

Titan Trading Notes For Tuesday [21/5/2024]:

$KLSE-KLCI had a good breakout today, breaking out all the way towards the 1627 points region with an overall positive market sentiment. Daily trading volume remains exceptional as we almost hit 7 billion today.

Main stocks that showed strong buying momentum would be the likes of VELESTO, MBSB, AHB, DATAPRP, DNEX, JAKS, DSONIC, NOTION, PMHLDG, EKOVEST, MRCB, PANDA, RGB, ASTRO, DXN, and CUSCAPI. All of which were able to sustain their rallies throughout the day on the top volumes list.

$MBSB / 1171 (MALAYSIA BUILDING SOCIETY BERHAD) definitely on a strong uptrend rally here since breaking out from its RM 0.82+ major resistance levels last week, had been rallying all the way towards the RM 0.95 regions today with huge volume and buying momentum despite being overbought.

For now looking very strong and as long as able to sustain above its RM 0.90+ immediate support levels, could continue on towards and beyond the RM 1+ major resistance levels soon in the coming weeks.

Will be monitoring MBSB closely here. Quite rare to see a bank rally in such a manner.

$NOTION / 0083 (NOTION VTEC BERHAD) definitely on a parabolic rally here as it managed to gap up and rally all the way towards the RM 1.05 major resistance levels today with huge volume and buying momentum.

This came after its breakout from its RM 0.65+ major resistance levels, the stock had since been going on a strong parabolic rally here. For now as long as able to sustain above its RM 0.92+ immediate support, could continue on towards and beyond the RM 1.05 regions soon.

Will still monitor NOTION closely.

$RAMSSOL / 0236 (RAMSSOL GROUP BERHAD) since breaking out towards the RM 0.50 major resistance levels, had been retracing and consolidating over the past 2 weeks here with RM 0.46+ as the main support level on the daily chart.

Today, it was able to stage a strong breakout back towards the RM 0.49 regions with good volume and buying momentum. For now looking quite strong here and as long as able to sustain, could continue on towards and beyond the RM 0.54+ major resistance levels soon in the coming weeks.

$RGB / 0037 (RGB INTERNATIONAL BHD) since retracing back towards the RM 0.375+ main support levels on the daily chart, had been able to form a good support there and broke out strong towards the RM 0.435 regions today with good volume and buying momentum.

For now looking quite bullish here and as long as able to sustain above its RM 0.41+ immediate support levels, could continue on towards and beyond the RM 0.45+ regions soon in the coming weeks.

PETALING JAYA: Malaysia Building Society Bhd (MBSB) has appointed Shahnaz Farouque Jammal Ahmad its new group chief financial officer (GCFO), effective June 1.

Change in Principal Officer - ENCIK RAMANATHAN A/L RAJOO

OTHERSMALAYSIA BUILDING SOCIETY BERHAD ("MBSB")
- MBSB APPOINTS SHAHNAZ FAROUQUE AS NEW GROUP CHIEF FINANCIAL OFFICER

Change in Principal Officer - ENCIK SHAHNAZ FAROUQUE BIN JAMMAL AHMAD

Change in Boardroom - ENCIK SAZALIZA BIN ZAINUDDIN

What about $RCECAP / 9296 (RCE CAPITAL BERHAD), $MBSB / 1171 (MALAYSIA BUILDING SOCIETY BERHAD), $BIMB / 5258 (BIMB HOLDINGS BERHAD)? They might directly benefited from the hike of civil servants salary?

Annual Report & CG Report - 2023

PROPOSED CHANGE OF NAME OF THE COMPANY FROM MALAYSIA BUILDING SOCIETY BERHAD TO MBSB BERHAD (PROPOSED CHANGE OF NAME)

KUALA LUMPUR: Malaysia Building Society Bhd (MBSB) has proposed to change its name to MBSB Bhd.