February 15, 2012

MAYBANK - Sustainable high dividends



Maybank; Buy; RM8.50
Price Target: RM10.60; MAY MK

Expect higher dividend payout, as the bank takes advantage of tax credit up to CY13. Domestic engines buzzing; regional growth cranking up. Maintain Buy rating and RM10.60 TP; top pick for Malaysian banks.

Source: HwangDBS Research 15 Feb 2012

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