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Overview
Financial Highlight
HeadlinesBusiness Background RHB Capital Bhd. is a financial services group in Malaysia. The group has five main subsidiaries: RHB Bank Berhad, RHB Investment Bank Berhad, RHB Islamic Bank Berhad, RHB Insurance Berhad, and RHB Asset Management Sdn Bhd. The largest subsidiary, RHB Investment Bank Berhad, provides capital market solutions, securities broking, asset management, and trustee services to a wide range of corporate, institutional, retail, and high net worth clients. The company also provides non-banking products such as general insurance, unit trust management, asset management/nominee, and custodian services. The bank has international presence with operations across multiple countries and offers solutions through personal and digital channels.
  Victor Yong rhb is interesting .... can telan mbsb with epf consent... more dramas soon :) 23/08/2019 11:10 AM Victor Yong epf will push for special cash dividend after the sale to tokio, i guess... need cash to pay dividend to the workers of the country , kwsp account holders :) 23/08/2019 11:12 AM Victor Yong good for tokio, japanese insurance group to telan rhb insurance, growth by acquisition is much faster... win2 for rhb and tokio 23/08/2019 11:13 AM Victor Yong belum jual rhb insurance pun dah melebihi RM6 haha Price Target Date Open Price Target Price Upside/Downside Price Call Source 01/08/2019 5.50 6.35 +0.85 (15.45%) BUY MIDF 01/08/2019 5.50 6.05 +0.55 (10.00%) BUY KENANGA 01/08/2019 5.50 6.60 +1.10 (20.00%) BUY AmInvest 23/08/2019 11:15 AM Victor Yong no wonder.... 1 aug 2019 jumped also :) 01/08/2019 5.50 5.50 - 5.65 5.57 +0.07 (1.27%) 7,748,800 31/07/2019 5.40 5.40 - 5.54 5.50 +0.06 (1.10%) 4,638,100 29/07/2019 5.61 5.43 - 5.68 5.44 -0.21 (3.72%) 4,254,400 26/07/2019 5.63 5.61 - 5.65 5.65 -0.03 (0.53%) 3,692,000 OTHERS RHB BANK BERHAD ("RHB BANK" OR "COMPANY") RECEIPT OF APPROVAL FROM BANK NEGARA MALAYSIA ("BNM") FOR RHB BANK TO COMMENCE NEGOTIATIONS WITH TOKIO MARINE ASIA PTE LTD FOR THE PROPOSED DISPOSAL OF UP TO 94.7% OF ITS EQUITY INTEREST HELD IN RHB INSURANCE BERHAD ("RHB INSURANCE") ("PROPOSED DISPOSAL") RHB BANK BERHAD Type Announcement Subject OTHERS Description RHB BANK BERHAD ("RHB BANK" OR "COMPANY") RECEIPT OF APPROVAL FROM BANK NEGARA MALAYSIA ("BNM") FOR RHB BANK TO COMMENCE NEGOTIATIONS WITH TOKIO MARINE ASIA PTE LTD FOR THE PROPOSED DISPOSAL OF UP TO 94.7% OF ITS EQUITY INTEREST HELD IN RHB INSURANCE BERHAD ("RHB INSURANCE") ("PROPOSED DISPOSAL") RHB Bank wishes to announce that BNM has, via its letter dated 29 July 2019, stated that it has no objection for the Company to commence negotiations with Tokio Marine Asia Pte Ltd ("TMA") in relation to the proposed disposal of up to 94.7% of its equity interest in RHB Insurance. The approval is valid for 6-months from the date of BNM’s letter. Pursuant to the Financial Services Act 2013, the relevant parties will be required to obtain the prior approval of the Minister of Finance, with the recommendation of BNM, before entering into any definitive agreement to effect the Proposed Disposal. Accordingly, a detailed announcement on the Proposed Disposal will be made upon execution of the definitive agreement(s) for the Proposed Disposal. This announcement is dated 31 July 2019. 23/08/2019 11:17 AM Victor Yong special cash dividend at least RM1 after sellign rhb insurance if possible more than Airasia's 90 sen after selling planes haha 23/08/2019 11:18 AM Good123 Sesiapa mau jual sekarang akan menyesal Kelak. Sabar dan tunggu good news 23/08/2019 11:21 AM Good123 According to Bloomberg data, banking stocks with the most “buy” calls now are RHB Bank, CIMB Group, Maybank, Alliance Bank and BIMB Holdings. 23/08/2019 11:23 AM Good123 Epf is also a controlling shareholder of rhb same as mbsb... easy to merge rhb and mbsb by rhb anytime Changes in Sub. S-hldr's Int (Section 138 of CA 2016) RHB BANK BERHAD Particulars of substantial Securities Holder Name EMPLOYEES PROVIDENT FUND BOARD Address Tingkat 19, Bangunan KWSP, Jalan Raja Laut Kuala Lumpur 50350 Wilayah Persekutuan Malaysia. Company No. EPF ACT 1991 Nationality/Country of incorporation Malaysia Descriptions (Class) Ordinary Share Details of changes No Date of change No of securities Type of Transaction Nature of Interest 1 06 Aug 2019 202,400 Acquired Direct Interest Name of registered holder Citigroup Nominees (Tempatan) Sdn Bhd Employees Provident Fund Board Address of registered holder Level 42, Menara Citibank, 165 Jalan Ampang, 50450 Kuala Lumpur Description of "Others" Type of Transaction Circumstances by reason of which change has occurred Acquired Nature of interest Direct Interest Direct (units) 1,655,826,804 Direct (%) 41.292 Indirect/deemed interest (units) Indirect/deemed interest (%) Total no of securities after change 1,655,826,804 Date of notice 07 Aug 2019 Date notice received by Listed Issuer 09 Aug 2019 Announcement Info Company Name RHB BANK BERHAD Stock Name RHBBANK Date Announced 09 Aug 2019 Category Change in the Interest of Substantial Shareholder Pursuant to Section 138 of CA 2016 Reference Number CS2-09082019-00089 23/08/2019 11:25 AM Good123 KUALA LUMPUR (Aug 1): Should the divestment of RHB Bank Bhd's investment arm materialises, research houses are seeing it as a positive for the bank's capital ratios as well as dividend payout. Yesterday, it was reported that the bank has obtained a six-month approval from Bank Negara Malaysia (BNM) to commence negotiations with Tokio Marine Asia Pte Ltd (TMA) to dispose of up to a 94.7% stake in RHB Insurance (RI). "We believe that the disposal of the RI stake would be positive for RHB Bank's capital ratios due to the expected gain from the sale," said CGSCIMB Research's analyst Winson Ng in a report dated July 31, adding that it would also improve its capacity to pay dividends, and could increase its dividend payout above his forecast of 35% for FY20 to FY21. However, Ng does not expect RHB Bank to pay out the entire proceeds from the sale as a special dividend, as BNM wants banks to keep high capital ratios. Assuming the sale is completed in 2019, the deal would be positive for RHB Bank's FY19 net profit due to the expected gain from the disposal, said Ng. While the sale of RI would present a one-off gain enhancing the bank's FY19 net profit by between 1.6% and 14.7%, the deal, however, would trim RHB Bank's net profit by circa 2.7% in FY20 to FY21 due to loss of insurance income, said Ng. If RI is sold at a P/BV (price over book value) of between 1.1 times and 1.9 times, this would value RI at between RM631 million and RM1.1 billion, said Ng. In FY18, RI contributed about 2.8% of RHB Bank's net profit. Ng opined that the sale of the RI stake will not fetch a P/BV of more than two times, because the growth in general insurance premium has been subdued at below 2% over the past three years, and Tokio Marine already has operations in Malaysia and hence, it will not be willing to pay a premium. Meanwhile TA Securities in a report wrote that unlocking value from RI, the research house foresees the sale to be capital accretive, potentially raising capital ratios by around 10 basis points (bps) to 20 bps. "Backed by healthy CET 1 capital of 15.7% as at end-March 2019 — one of the highest in the industry, we foresee the possibility of a higher dividend of up to 40% for FY19, buoyed by potential sale of the insurance unit," said TA Securities. Same with CGSCIMB Research, TA Securities believes that RI could be valued at a P/BV of between 1.1 times and 1.5 times. Despite TA Securities not foreseeing the group's earnings to be materially impacted, if the deals go through, the research house is positive on the proposed disposal. "Currently accounting for circa 3% of group's revenue and PBT (profit before tax), we also do not foresee the absence of RHB's insurance unit to disrupt the group's five-year FIT22 targets," said TA Securities. "We believe that in addition to possible upfront gains, the relationship between TMA and RHB Bank can be further strengthened. "We believe that the sale could strengthen the collaboration between both companies, with RHB potentially signing a new agreement to distribute TM's general insurance products via its branches and alternative distribution outlets," TA Securities added. Both research houses maintained a buy call on the stock with a target price of RM6.50. At 11.07am, shares of RHB Bank were eight sen or 1.45% higher at RM5.58, with 2.4 million shares exchanging hands, valuing the bank at RM22.06 billion. The stock was up as high as 15 sen or 2.73% at RM5.65 earlier this morning, before paring some of its gains. 23/08/2019 11:43 AM Good123 Rhb is fun , results n dividend will b announced next week... merge with mbsb is possible due to epf as the controlling shareholder for both, special cash dividend after selling rhb insurance, etc 23/08/2019 12:15 PM Choongling Good 123, hopefully. Need something big sooner. Cash in hand, US is getting bad. 23/08/2019 1:15 PM DoggieInvestor I think RHB Bank has been trying hard to sell assets in order to shore up their capital base. Just read some news on the internet will show you that RHB Bank Singapore subsidiary made huge losses due to loan defaults mainly from the O&G sector in Singapore since 2014. RHB Bank already put up its Singpapore office building up for sales since last year but no one wants to acquire it. Selling its insurance biz to Tokio Marine will only raise cash for the bank to cover their hole in many soured loans. that's why any experienced bank analysts in malaysia will not recommend investors to buy RHB BANK shares. EPF buying is irrelevant if you look at EPF's track record in public equity investing in the last 20 years. 23/08/2019 1:19 PM Victor Yong before july 31 beli, after 31 july juga beli haha Shareholding Changes Date of change Shares Director/ Substantial Shareholder 06 Aug 2019 Acquired 202,400 EMPLOYEES PROVIDENT FUND BOARD 02 Aug 2019 Acquired 1,000,000 EMPLOYEES PROVIDENT FUND BOARD 01 Aug 2019 Acquired 1,000,000 EMPLOYEES PROVIDENT FUND BOARD 31 Jul 2019 Acquired 120,000 EMPLOYEES PROVIDENT FUND BOARD 26 Jul 2019 Acquired 1,000,000 EMPLOYEES PROVIDENT FUND BOARD 25 Jul 2019 Acquired 1,000,000 EMPLOYEES PROVIDENT FUND BOARD 24 Jul 2019 Acquired 2,469,300 EMPLOYEES PROVIDENT FUND BOARD 23 Jul 2019 Acquired 9,000 EMPLOYEES PROVIDENT FUND BOARD 22 Jul 2019 Acquired 606,400 EMPLOYEES PROVIDENT FUND BOARD 23/08/2019 1:46 PM Victor Yong EPF has been good dividend for epf accountholders for many years. just trust in epf 23/08/2019 1:47 PM Victor Yong next week, akan tahu dividen dan prestasi pencapaian... hurray! RHBBANK Dividend History Date Financial Year Ex-Date Entitlement Date Payment Date Entitlement Type Dividend (Cent) Dividend (%) Details 29 Apr 2019 31 Dec 2018 07 May 2019 08 May 2019 23 May 2019 Final Dividend 13.0000 0.00 Malaysia Stock - Dividend 30 Aug 2018 31 Dec 2018 18 Sep 2018 20 Sep 2018 03 Oct 2018 Interim Dividend 7.5000 0.00 Malaysia Stock - Dividend 21 May 2018 31 Dec 2017 04 Jun 2018 06 Jun 2018 19 Jun 2018 Final Dividend 10.0000 0.00 Malaysia Stock - Dividend 14 Sep 2017 31 Dec 2017 29 Sep 2017 03 Oct 2017 13 Oct 2017 Interim Dividend 5.0000 0.00 Malaysia Stock - Dividend 02 May 2017 31 Dec 2016 15 May 2017 17 May 2017 29 May 2017 Final Dividend 7.0000 0.00 Malaysia Stock - Dividend 29 Aug 2016 31 Dec 2016 13 Sep 2016 15 Sep 2016 30 Sep 2016 Interim Dividend 5.0000 0.00 Malaysia Stock - Dividend 30 Mar 2016 31 Dec 2015 11 Apr 2016 13 Apr 2016 29 Apr 2016 Interim Dividend 12.0000 0.00 Malaysia Stock - Dividend 13 Mar 2015 31 Dec 2014 25 Mar 2015 27 Mar 2015 24 Apr 2015 Interim Dividend 6.0000 0.00 Malaysia Stock - Dividend 09 Jun 2014 31 Dec 2013 19 Jun 2014 23 Jun 2014 23 Jul 2014 Final Dividend 10.3000 0.00 Malaysia Stock - Dividend 30 Sep 2013 31 Dec 2013 10 Oct 2013 14 Oct 2013 13 Nov 2013 Interim Dividend 6.0000 0.00 Malaysia Stock - Dividend 20 Jun 2013 31 Dec 2012 02 Jul 2013 04 Jul 2013 01 Aug 2013 Final Dividend 16.0900 0.00 Malaysia Stock - Dividend 12 Oct 2012 31 Dec 2012 24 Oct 2012 29 Oct 2012 27 Nov 2012 Interim Dividend 6.0000 0.00 23/08/2019 1:48 PM Victor Yong inovatif juga :) KUALA LUMPUR (Aug 8): RHB Banking Group is partnering Malaysian Retail Chain Association (MRCA) to support more than 400 leading retail chain store operators, franchisers as well as small and medium enterprises (SMEs) through the Malaysia International Retail & Franchise Exhibition 2019 (MIRF). In a statement today, RHB said MIRF 2019, which took place on July 18-20, transacted more than RM72 million in business revenue as compared to MIRF 2018, which transacted more than RM65 million in business revenue. RHB said through the partnership, it was able to engage with leading chain store operators in Malaysia and share with them the products and services available for retailers and SMEs. Advertisement It said among the key products and services being showcased throughout the exhibition was the RHB SME e-Solution Platform, which offers SMEs complete interoperability to achieve greater business efficiency. RHB said the enhanced RHB SME e-Solutions is one of the core components of the RHB SME ecosystem providing SME customers with value-added features on a single platform that include seamless integration of banking activities. Other products being offered at the exhibition were: •Business current account & Reflex •SME e-Solution (SES)/SME digital ecosystem •Corporate Employee Privilege Scheme (CEPS) •Tailor-made Business Loan (PINTAS/BizPlus) •Business deposits (SME Flexi FD) •RHB Premier account RHB head of group business and transaction banking Jeffrey Ng Eow Oo said through MIRF 2019, RHB was able to reach out to Malaysian leading retail chain store operators as well as franchise owners, further boosting its penetration rate of the retail SME segment in Malaysia. "RHB will continue to introduce business-friendly solutions and product features that makes everyday business simple and [convenient] and which will help SMEs to optimise resources, improve productivity and strengthen their competitive edge," said Ng. Meanwhile, MRCA president Datuk Seri Garry Chua said with this initiative, the association was able to assist the growth and development of the retail and franchise industries. At 11.02am, RHB Bank Bhd gained 1.83% or 10 sen to RM5.56 with 611,300 shares traded. 23/08/2019 1:50 PM Victor Yong next, epf can spring another surprise, merger between rhb and mbsb controlled by epf haha RHB Bank springs insurance surprise Banking Friday, 02 Aug 2019 CGS-CIMB, in a note, said that RHB Bank had not disclosed its intention to sell their insurance business in the past. PETALING JAYA: Analysts have been caught by surprise by RHB Bank Bhd’s desire to sell up to all of its 94.7% stake in RHB Insurance. CGS-CIMB, in a note, said that RHB Bank had not disclosed its intention to sell their insurance business in the past. RHB Bank said on Monday that it has received Bank Negara’s approval to commence negotiations with Tokio Marine Asia Pte Ltd to dispose of the former’s stake in its insurance business. “Assuming the sale is completed in 2019, the deal would be positive for RHB Bank’s financial year 2019 net profit due to the expected gain from the disposal. If RHB Insurance is sold at a price to book value of between 1.1 times and 1.9 times (which would value it at between RM631mil and RM1.1bil), the one-off gains would enhance RHB Bank’s FY19 forecast net profit by between 1.6% and 14.7%, based on our estimates, ” CGS-CIMB said. However, CGS-CIMB said that it would also trim RHB Bank’s net profit by circa. 2.7% in FY20-21 forecasted due to the loss of the insurance income.“In FY18, RHB Insurance contributed about 2.8% of RHB Bank’s net profit, ” it said.CGS-CIMB said the RHB Insurance stake disposal would be positive for RHB Bank’s capital ratios due to the expected gain from the sale. Meanwhile, AMInvestment Bank Research said RHB Insurance achieved a growth in gross earned premium of 12.3% year-over-year in FY18.In the same year last year it also recorded a claims ratio of 59.7%, which is close to the industry’s of 58.2%. “The combined ratio of RHB Insurance of 91.6% in FY18 was on par with the sector’s. It has a low commission ratio of 10.0% while its management expense ratio stood at 21.9%, ” it said. AmInvestment Bank said it is positive on the potential disposal as it will unlock the value of RHB Bank’s insurance business and be accretive to the group’s capital ratios. The group and bank entity CET1 ratios were 15.7% and 13.6% respectively in the first quarter of FY19, it said. Both CGS-CIMB and AmInvestment Bank Research have retained their “buy” calls on RHB Bank with target prices of RM6.50 and RM6.60 respectively. Read more at https://www.thestar.com.my/business/business-news/2019/08/02/rhb-bank-springs-insurance-surprise#cVZK62SUk3CfXys6.99 23/08/2019 1:53 PM Victor Yong spring more surprises soon haha RHB Bank springs insurance surprise Banking Friday, 02 Aug 2019 CGS-CIMB, in a note, said that RHB Bank had not disclosed its intention to sell their insurance business in the past. PETALING JAYA: Analysts have been caught by surprise by RHB Bank Bhd’s desire to sell up to all of its 94.7% stake in RHB Insurance. CGS-CIMB, in a note, said that RHB Bank had not disclosed its intention to sell their insurance business in the past. RHB Bank said on Monday that it has received Bank Negara’s approval to commence negotiations with Tokio Marine Asia Pte Ltd to dispose of the former’s stake in its insurance business. “Assuming the sale is completed in 2019, the deal would be positive for RHB Bank’s financial year 2019 net profit due to the expected gain from the disposal. If RHB Insurance is sold at a price to book value of between 1.1 times and 1.9 times (which would value it at between RM631mil and RM1.1bil), the one-off gains would enhance RHB Bank’s FY19 forecast net profit by between 1.6% and 14.7%, based on our estimates, ” CGS-CIMB said. However, CGS-CIMB said that it would also trim RHB Bank’s net profit by circa. 2.7% in FY20-21 forecasted due to the loss of the insurance income.“In FY18, RHB Insurance contributed about 2.8% of RHB Bank’s net profit, ” it said.CGS-CIMB said the RHB Insurance stake disposal would be positive for RHB Bank’s capital ratios due to the expected gain from the sale. Meanwhile, AMInvestment Bank Research said RHB Insurance achieved a growth in gross earned premium of 12.3% year-over-year in FY18.In the same year last year it also recorded a claims ratio of 59.7%, which is close to the industry’s of 58.2%. “The combined ratio of RHB Insurance of 91.6% in FY18 was on par with the sector’s. It has a low commission ratio of 10.0% while its management expense ratio stood at 21.9%, ” it said. AmInvestment Bank said it is positive on the potential disposal as it will unlock the value of RHB Bank’s insurance business and be accretive to the group’s capital ratios. The group and bank entity CET1 ratios were 15.7% and 13.6% respectively in the first quarter of FY19, it said. Both CGS-CIMB and AmInvestment Bank Research have retained their “buy” calls on RHB Bank with target prices of RM6.50 and RM6.60 respectively. 23/08/2019 1:53 PM Victor Yong epf as the major shareholder should have known the likelihood of the sale of rhb insurance, sapu before and after the annoucement showed that the disposal is almost certain to go ahead... fingers crossed 23/08/2019 2:28 PM Victor Yong both traders and investors would rush in to grab rhb shares soon as predicted.... wait n see whether it is true :) 23/08/2019 2:29 PM DoggieInvestor go online google and find out how much EPF paid for RHB Bank more than 10 years ago. Its still in the RED !!! 24/08/2019 2:12 PM prudentinvestor Another set of excellent results. The interim dividend to be declared later is also 66% higher than the interim dividend declared a year ago. This year's total dividend should be at least 30 sen a share if profit is maintained. 26/08/2019 3:05 PM DoggieInvestor you do realise that Fed had cut rate for the first time in 10 years. If rate cut continues, all Banks are a short ! 27/08/2019 12:52 PM KooSan 兴业银行首半财年盈利符合预期，分别占我们与市场全年预测的49.8%和51.6%，归功于持续增加的回教银行收入，而拨备也保持稳定。 该银行派发有史以来最高的首半年中期股息，派息率相等于40.2%，超出我们原先预测的35%，因此，我们上调预测至40%，即全年估计会派25仙股息，相当于现有股价4.4%周息率。 28/08/2019 10:16 PM tkl88 What a superb Good News ! US Fed cuts key interest rate by quarter-percentage point ! MARKET SNAPSHOT: U.S. Stocks Fall After Fed Cuts Rates A Quarter-point, But Casts Doubt On Future Stimulus https://www.morningstar.com/news/dow-jones/201909187545/market-snapshot-us-stocks-fall-after-fed-cuts-rates-a-quarter-point-but-casts-doubt-on-future-stimulus Like that all the funds and capitals will flood into Asian Countries included Malaysia already ! Huat ah ! Heng ah ! Ong ah ! 19/09/2019 9:38 AM BN_better Najib pls return as PM in GE15. Buy cheap RHB eg RM 4 no hope under PH why ah? 04/10/2019 2:16 PM BN_better CIMB, Ambank can get RM 4 why RHB cannot? PH not good bec allow RM 2 chges? 04/10/2019 2:38 PM BN_better Najib claims Barisan much better at managing country's economy Read more at https://www.thestar.com.my/news/nation/2019/10/04/najib-claims-barisan-much-better-at-managing-country039s-economy#RxwUriamW86tluoI.99 04/10/2019 5:15 PM Choongling Basically all are not good enough. Good at selling proton only. Most surprised to me is FGV price. FGV price is obviously something wrong from IPO. All are failing economy in school. 06/10/2019 2:54 PM ahbah Retain BUY and GGM-TP of RM6.45, based on 0.99x 2020 P/B with assumptions of 9.6% ROE, 9.7% COE, and 3.0% LTG. This is largely in line to its 5-year average of 0.90x and the sector’s 0.99x. In our opinion, the valuation is fair, considering RHB’s current ROE generation is similar to its 5-year mean and sector average. We continue to like the stock for its appealing risk-reward profile given strong CET1 ratio of 16.3% (vs sector’s 13.7%), which permits the ability to divvy even more; we note that RHB’s current dividend payout ratio of 40% is still below the sector average of 45%. Also, it is one of the very few domestic banks now with the ability to churn healthy profit growth rate (3% vs sector: flat). Source: Hong Leong Investment Bank Research - 16 Oct 2019 16/10/2019 2:02 PM  |
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