|
| |
Overview
Financial Highlight
HeadlinesBusiness Background AMMB Holdings Bhd is a provider of banking and financial services in Malaysia through its subsidiaries: AmBank and AmBank Islamic. The bank’s largest segments, which contribute the vast majority of revenue, are retail banking, wholesale banking, insurance, and group funding. The retail banking segment provides individuals and small businesses with services such as credit, auto financing, mortgages, credit cards, capital financing, personal loans, deposits, current accounts, and savings accounts. The wholesale banking business engages with corporate finance and advisory services, restructuring, security issuance, futures market services, stockbroking, and derivatives services. The insurance division offers life and general insurance products via its partnership with MetLife International.
  Godofgambler Maehai... If the research house is so accurate then there is no beggars in this world. Normally they rated low because they want to sapu the shares for themselves. 07/04/2021 7:03 PM yingzhe17 Can’t wait for more bad news. Insider also no confident and keep selling. 07/04/2021 7:55 PM Godofgambler Maehai Maehai... See Ambank how much they profited.. You think they can't pull through? Please don't listen to those negative stupix comments 07/04/2021 9:06 PM MF0001 SIPEK BORING ORH GO EVERYWHERE SEEMS LIKE PEOPLE FEAR ME :DDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDD BE GOOD GUY PEOPLE THOUGHT I BAD GUY BAD GUY PEOPLE THOUGHT I GOOD GUY AMBANK HOW MUCH U SAY? 3.30? :DDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDD 07/04/2021 9:10 PM gcke @villlian in most developed equity markets round the globe such bad news coming out from a bank will cause the share price to drop unrelentingly. Investors will ensure that the BOD faces the furious wraths of the investing community without fail! Such serious infractions by the bank is unwarranted and unacceptable. Expects the price to further drop to 2.70 in the next few months. 09/04/2021 12:33 PM MorningGlory123 you think Datuk Seri Nazir Razak's private equity fund interested to increase AMMB shareholding? 09/04/2021 2:44 PM robert88888 I think Ambank should be the highest now, Bad news and It's hard to be up again....I better swap to others counter... 09/04/2021 3:48 PM Stockisnotfun Increase ammb shareholding? Already say confirmed Nazir razak already in the PP provided by Ambank. 09/04/2021 3:48 PM Cojack31 nex Week will fly above 320... If want to drop ..already drop . ..price up above rm 3 consider is good 10/04/2021 9:42 PM AllanTingAS Logically, i will follow fortunefire because PP will be 2.75 and they need to pay Government 2.8 Billion! 11/04/2021 8:27 PM melanie1818181818 LOL!!! W..T..F!!!! MAEHAI!!!!! Talking about being logical in stock market???? LOL!!! Really laugh die me!!!!! AllanTingAS Logically, i will follow fortunefire because PP will be 2.75 and they need to pay Government 2.8 Billion! 12/04/2021 1:19 AM speakup https://www.theedgemarkets.com/article/newsbreak-nazir-razaks-ikhlas-affin-hwang-am-approached-ammb-private-placement 12/04/2021 8:59 PM Stockisnotfun I just care whether we will get dividend or not still after the private placement. 12/04/2021 10:17 PM gcke @Stockisnotsofun the odd of you as one of the investors is on the very low end.That after the bank was just hit with the global settlement with Ministry of Finance (MOF) amounting to RM 2.83 billions.Such monumental sum is equivalent to close to TWO years profits. Also the present Return of Equity(ROE) = 5.88 is lower than the Cost of Equity(COE)=10.34% for AMMB as compare to the other banks in the country.On the contrary, the BOD and top management should suffered from 50 % & 20% remuneration and incentives cut respectively for such gross infractions which for a banking institution should not ever happened at all.High probity,integrity and governance should underpin any bank for that matter. 13/04/2021 5:40 PM yingzhe17 Good news ! Ambank going to sell more shares as pp next quarter. Buy back share at 3.00 for esos to rewards Ceo 14/04/2021 9:04 PM fortunefire we shall see.... the main reason for doing pp is bcos they dun have enuf funds to settle 2.8bil 15/04/2021 11:28 AM Godofgambler I think main reason is not for us to think. Ambank is a big instituttion. They know what to do with the fund. It can be any form of investment. 15/04/2021 1:51 PM Stockisnotfun Aiyo don't need to state the obvious when the news is already there. They already say two objective on the PP. Partial fund will use to settle the fine and some are use to increase the capital fund. 15/04/2021 2:45 PM shearer202 Really surprised that a bank can facing financial issue , baggard money everywhere to cover big hole , really shame for the management ! Will it going to bankrupt ? Share price rm 3 ! Is it value to invest ? 17/04/2021 10:40 AM Goldberg The issue revolving around AMMB’s private placement By Devanesan Evanson --------------------------------------------------------------------------- FOLLOWING its April 1 announcement to call for a proposed private placement exercise – which was a surprise for the market, AMMB Holdings Bhd (AMMB) again reached out to the Minority Shareholders Watch Group (MSWG) to address our concerns and queries. MSWG met AMMB at 4.30pm on April 2 – the day after the announcement. (AMMB had earlier reached out to MSWG to address concerns regarding the RM2.83 bil settlement related to 1Malaysia Development Bhd [1MDB]). On the same day, along with the announcement on the placement, the banking group also announced that it is undertaking an assessment of goodwill to ascertain the value of impairment that will be reflected in its financial results for the fourth quarter ended March 31. AMMB also met other shareholder and stakeholder groups to address concerns on the placement exercise and the assessment of goodwill. Why not a rights issue? Earlier, on the morning of the announcement (April 1), the Minority Shareholders Watch Group (MSWG) commented that a placement exercise will affect the interest of minority shareholders in terms of shareholding dilution and will deprive minority shareholders from enjoying future upside in the share price, in view that the RM2.70 illustrative placement price was at a discount of 9.77% compared to the five-day volume weighted average price. It has now been determined that the placement price will be RM2.75 – and the closing price of the share at the time of writing (April 8) was RM3.15. The market was given to understand that the bank remained resilient and unstressed after accounting for the effects of the RM2.83 bil settlement. Thus, the placement exercise came as a surprise to the market. AMMB’s justification for the placement AMMB explained that the implementation of the private placement was to further strengthen AmBank Group’s capital base by accelerating the build-up of its Core Equity Tier 1 capital. During our meeting with AMMB, AMMB’s management stressed that a rights issue carries substantial downside risks. Firstly, its two major shareholders would be unable to take up their respective rights allocation due to shareholding caps imposed by the regulators. It was also highlighted that apart from the two major shareholders, another shareholder holding a substantial block also indicated that they will not be able to participate in the rights issue as they have fully invested. Secondly, a placement can raise funds expeditiously and is less costly compared to a rights issue, Thirdly, with the risk of such major undersubscription, the underwriters of the rights issue would have demanded higher fees to compensate for their underwriting risks and this would drive rights issue costs higher. Fourthly, AMMB will be diligent in the selecting of placees in that they will try to identify placees who will be able to value-add to the banking group. Fifthly, a placement would bring in the funds sooner than a rights issue. Thus, the timely replenishment of capital may also lead to earlier rating upgrade of AmBank Group’s rating by rating agencies. (Last month, RAM Rating Services Bhd downgraded the credit ratings of AmBank Group and its subsidiaries to AA3 from AA2, due to the RM2.83 bil global settlement related to 1MDB). Based on the reasons given in support of a placement in lieu of a rights issue, MSWG can understand the rationale for the placement. It is unfortunate that this rationale was not available in the announcement made by AMMB through Bursa Malaysia and/or the press release. It would have pre-empted the question ‘why a placement and not a rights issue’ and AMMB could have avoided the need to reach out to the various shareholder and stakeholder groups individually to explain their rationale for the placement. – April 12, 2021 Devanesan Evanson is the CEO of the Minority Shareholders Watch Group (MSWG). 17/04/2021 10:50 AM speakup when they give u rights issue, u complain why got rights issue. when they dont give u rights issue, u complain why no rights issue. that is human behaviour 17/04/2021 10:36 PM chkhooju Jangan bagi syok sendiri. You will be very disappointed. And, will cry like a baby. 18/04/2021 8:10 AM AllanTingAS You can buy <RM3.00 once next QR announced cause their PNL will be bad. Additionally their PP was RM2.75 18/04/2021 9:00 PM  | |
