Stock Name: AMMB
Company Name: AMMB HOLDINGS BHD
Research House: INTER PACIFIC
KUALA LUMPUR: Inter-Pacific Research Sdn Bhd reiterated its outperform call on AMMB HOLDINGS BHD [] at RM4.99 with a fair value of RM5.74.
It said concerns that could continue to weigh down AMMB's performance included rising interest rates that could hurt their fixed income products that include hire-purchase which accounts for more than 50% of its business; and earnings catalysts for investment banking may not be that significant in the near term.
"Nonetheless, we remain optimistic driven by ANZ's value add; positive impact from the group revamp, and new growth avenue from the foreign exchange and derivative businesses," it said.
Company Name: AMMB HOLDINGS BHD
Research House: INTER PACIFIC
KUALA LUMPUR: Inter-Pacific Research Sdn Bhd reiterated its outperform call on AMMB HOLDINGS BHD [] at RM4.99 with a fair value of RM5.74.
It said concerns that could continue to weigh down AMMB's performance included rising interest rates that could hurt their fixed income products that include hire-purchase which accounts for more than 50% of its business; and earnings catalysts for investment banking may not be that significant in the near term.
"Nonetheless, we remain optimistic driven by ANZ's value add; positive impact from the group revamp, and new growth avenue from the foreign exchange and derivative businesses," it said.
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