♦ Strategy / Earning Review : Downdraft Of Fear; Longer-term Outlook Still Positive
♦ Benchmarking
Market Update : Anticipating The Mid-Year Review
♦ Banking
Sector Update : Apr ‘10 System Data – Broadly Stable
♦ Sunway Holdings
News Update : Secures RM210m Building Job From SunCity
♦ Maxis
Results / Briefing Note : Delivering On Dividends
♦ Alliance Financial Group
Results Note : Lower-Than-Expected LLP Helps Beat Estimates
Corporate Highlights...-01/06/2010
Showing posts with label MNRB Holdings. Show all posts
Showing posts with label MNRB Holdings. Show all posts
Tuesday, June 1, 2010
MNRB Holdings Berhad : FY03/10 Net Profit Grew 73% YoY - 1/6/2010
Below expectations. MNRB’s full year FY03/10 net profit was below our expectations, coming in at only 73% of our forecast. However, yoy, revenue and PBT grew by 14.6% and 86.3% respectively.
MNRB Holdings Berhad : FY03/10 Net Profit Grew 73% YoY - 1/6/2010
MNRB Holdings Berhad : FY03/10 Net Profit Grew 73% YoY - 1/6/2010
RHB Equity 360° - 1 June 2010 (Earnings Review, Market, Banks, Sunway, Maxis, AirAsia, MNRB, Affin, WTK...)
Strategy Update
♦ After three consecutive quarters of positive earnings surprises, the earnings reporting season that has just ended showed that the bulk of the corporate results that we covered were within our (83.5%) as well as market (68.2%) expectations.
♦ Unlike the previous three quarters, there were no significant revisions to our individual company’s earnings numbers during this reporting season (except for Genting Bhd due to positive minority interest caused by exceptional items incurred in Genting S’pore and Genting M’sia), suggesting that major earnings upgrades have already been factored into analysts’ projections and that earnings growth might have peaked in 1Q.
♦ Sequentially, net EPS for FBM KLCI stocks under our coverage recovered to +10.6% qoq in the 1Q, after easing to +4.2% in 4Q09. Yoy, net EPS for FBM KLCI stocks continued to trend up and surged to a high of +35.6% in the 1Q, from +11.7% in 1Q09. The strong surge reflects partly a low base effect, although it points to sustained recovery in corporate earnings.
Economic Highlights - Broad Monetary Aggregate Moderated, But Loan Growth Bounced Back In April - 1/6/2010
♦ After three consecutive quarters of positive earnings surprises, the earnings reporting season that has just ended showed that the bulk of the corporate results that we covered were within our (83.5%) as well as market (68.2%) expectations.
♦ Unlike the previous three quarters, there were no significant revisions to our individual company’s earnings numbers during this reporting season (except for Genting Bhd due to positive minority interest caused by exceptional items incurred in Genting S’pore and Genting M’sia), suggesting that major earnings upgrades have already been factored into analysts’ projections and that earnings growth might have peaked in 1Q.
♦ Sequentially, net EPS for FBM KLCI stocks under our coverage recovered to +10.6% qoq in the 1Q, after easing to +4.2% in 4Q09. Yoy, net EPS for FBM KLCI stocks continued to trend up and surged to a high of +35.6% in the 1Q, from +11.7% in 1Q09. The strong surge reflects partly a low base effect, although it points to sustained recovery in corporate earnings.
Economic Highlights - Broad Monetary Aggregate Moderated, But Loan Growth Bounced Back In April - 1/6/2010
Tuesday, March 2, 2010
MNRB Holdings Berhad : Stronger Earnings From Better Claims Experience and Reversal Of Provision - 01/03/2010
Back in the black. MNRB recorded a turnaround in 3QFY03/10 results with net profit of RM80.1m, bringing 9MFY03/10 earnings to RM54.4m, above our full year net profit forecast of RM12.7m. The key variance is higherthan- expected general reinsurance transfer, due to:
1) better claims experience; and
2) reversal of RM51.8m provision made in 1HFY10 for claims reserving.
MNRB Holdings Berhad : Stronger Earnings From Better Claims Experience and Reversal Of Provision - 01/03/2010
1) better claims experience; and
2) reversal of RM51.8m provision made in 1HFY10 for claims reserving.
MNRB Holdings Berhad : Stronger Earnings From Better Claims Experience and Reversal Of Provision - 01/03/2010