Financial Roundup: Feb 27, 2015

2018-05-01T11:37:43+08:00By |Banks, EPF, Government, Roundup, Shares|0 Comments

Forbes Malaysia’s Richest; ETP Pemandu; Maybank FY14; MBSB what’s next; Samsung wages freeze

Forbes Malaysia Rich List 2015

ForbesMalaysiaRichest2015

  1. Robert Kuok (91) – US$11.3bil (diversified)
  2. Ananda Krishnan (76) – US$9.7bil (telecom)
  3. Quek Leng Chan (73) – US$5.6bil (banking/real estate)
  4. Lim Kok Thay (63) – US$5.5bil (casinos)
  5. Teh Hong Piow (84) – US$5.4bil (banking)
  6. Lee Shin Cheng (75) – US$4.6bil (palm oil/real estate
  7. Yeoh Tiong Lay (85) – US$3bil (construction/real estate)
  8. Syed Mokhtar AlBukhary (63) – US$2.9bil (diversified)
  9. Goh Peng Ooi (60) – US$1.55bil (software)
  10. Lee Oi Hian & Lee Hau Hian – US$1.45bil (palm oil/chemicals/real estate)

Source: http://www.forbes.com/malaysia-billionaires/

Economic Transformation Plan (ETP) Wrap-up 2014 by Pemandu

etp etp-goals

  • GDP +6% (robust)
  • Realised private investments +13% (to RM181.5b)
  • Approved investments record RM235.9b
  • FDI -8% (Y2013:RM38b > Y2014:RM35b)
  • Pemandu believes ETP goal US$15,000 per capita by Y2020 achievable with 11MP
  • Y2015: Malaysia continued economic resilience (govt committed & on track meet revised budget)
  • Y2015: Expect market FBMKLCI ease before recovery year end

Source: http://research.uobkayhian.com/content_download.jsp?id=26998&h=d3b0b66668aabbb1887660ef1ba740ff
ETP Pemandu: http://etp.pemandu.gov.my

Equities: Maybank FY14 earnings increase to RM6.71b

Worlds-Strongest-Banks

  • FY14 profit before tax surpassed RM9.11 billion
  • Group loans rise 13.4% Y-o-Y ahead of 13% guidance
  • 11.1% rise in deposits – within guidance of 10-12%
  • ROE of 13.8% within 13-14% target
  • Strong performance in international operations with accelerating momentum especially in Singapore, Philippines, Cambodia and Greater China.
  • Total Group assets increased to RM640.3 billion in FY14 from RM560.3 billion in FY13
  • Group total capital ratio of 15.88% and CET1 at 11.39% places Maybank among strongest domestically
  • Dividend yield of 6.2% ranks Maybank highest amongst regional peers
  • Debuted #17 in Bloomberg’s World’s Strongest Banks list

http://www.maybank.com/en/news-support/newsroom-detailpage.page?detailId=1424935696670010

MBSB: Post-merger Breakdown

mbsbfuturepathb1

  • 3way merger for mega Islamic bank with CIMB & RHB aborted in 2015 Jan
  • 5-year growth plan especially without low-cost deposits
  • CEO Zaini says “Untrue that MBSB gets cheap funds from EPF”
  • “A merger is a must in near future but has to be good for company & stakeholders” [Update Feb 28, 2015: Bank Islam-MBSB potential merger]
  • 3-prong strategy:
    1. Strong collection model
    2. Keep costs low
    3. Grow corporate business
  • Looking to reduce personal loans (90% > 75%) & grow corporate loans

Source: http://www.thestar.com.my/Business/Business-News/2015/02/26/MBSBs-future-path-Corporate-exercise-inevitable-for-it-to-be-a-fullfledged-bank/?style=biz

Samsung Electronics Freeze Salaries

A man walks at the Samsung Electronics' headquarters in Seoul

  • 1st time in 6yrs for Samsung employees in Korea (90k+ employees)
  • Cost-cutting due to profts fall from rising competition
  • Samsung [005930.KS] lost market share vs Apple [AAPL.O] & Xiaomi [XTC.UL]
  • Betting on new Galaxy S smartphone launching Mar 1, 2015

Source: http://www.reuters.com/article/2015/02/26/us-samsung-elec-wage-idUSKBN0LU0C020150226

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