KLCI Stock - AFFIN / 5185 - 2012 Quarter 3

AFFIN HOLDINGS BHD


Company Description

Affin Holdings Berhad is an investment holding company. It operates in five segments: Commercial Banking and hire purchase, Islamic Banking, Investment Banking and stock-broking, Money-broking, Fund and unit trusts management. The principal activity of the jointly controlled entities are underwriting of life insurance business and property development while the associate is principally engaged in the underwriting of general insurance business. The Commercial Banking and Hire Purchase segment focuses on business of banking in all aspects which includes Islamic Banking operations. Investment banking segment includes business of a merchant bank, discount house, fund and unit trusts management. Stock-broking segment comprises institutional and retail broking business for securities listed on the Bursa Malaysia Securities Berhad. The insurance segment includes general and life insurance businesses.

Company Info 

Listing Date	1991-11-04
Market Capital (Capital Size)	5,051,666,224 (Very Large)
Par Value	RM 1.00
Board	Main
Sector	Finance
Major Industry	Banking
Sub Industry	Other Financial Services
Website	http://www.affin.com.my/

My Analysis 

Forecast P/E now	(3.38-0.15)/0.4223 = 7.65 (Moderate)
Target Price	4.01+0.15 = 4.16 (PE 9.5, EPS 0.4223, DPS 0.15)
Decision	BUY if stock price sustain and uptrend above SMA20 or wait rebound at around SMA100
Comment	Revenue increased 5.1% and is continuous increasing since FY09Q2(higher than preceding year corresponding quarter 13.7%), eps increased 14.9% and also higher than preceding year corresponding quarter 19.6%, not enough cash for operating hence increase borrowings and spent 15.2% of Group cash to cover all expenses, total assets indicate Group expand but slower liabilities leverage, interest margin higher than corresponding quarter but still much more lower than earlier years, all division continuing growth
First Support Price	3.32
Second Support Price	3.2
Risk Rating	MODERATE

Research House

HwangDBS Target Price	4 (2012-06-25)
Jupiter Target Price	3.9 (2012-07-18)
HLG Target Price	2.96 (2012-08-23)
Alliance Target Price	3.93 (2012-11-20)
CIMB Target Price	3.13 (2012-11-20)
MIDF Target Price	4.2 (2012-11-20)
RHB Target Price	3.6 (2012-11-20)
TA Target Price	4.4 (2012-11-20)
Kenanga Target Price	4.4 (2012-12-19)

Accounting Ratio 

Return on Equity	10.93%
Dividend Yield	4.44%
Interest Profit Margin	42.4%
Operating Profit Margin	28.20%
Net Profit Margin	27.41%
Tax Rate	23.69%
Asset Turnover	0.0534
Net Asset Value Per Share	4.05
Net Tangible Asset per share	3.38
Price/Net Tangible Asset Per Share	1.0
Cash Per Share	6.71
Liquidity Current Ratio	1.1259
Liquidity Quick Ratio	0.9153
Liquidity Cash Ratio	0.2112
Gearing Debt to Equity Ratio	8.0875
Gearing Debt to Asset Ratio	0.89
Working capital per thousand Ringgit sale	203.3%
Days to sell the inventory	1711
Days to collect the receivables	4139
Days to pay the payables	8113

Technical Analysis 

SMA 10	3.36 (Uptrend)
SMA 20	3.334 (Uptrend 19 days)
SMA 50	3.269 (Uptrend)
SMA 100	3.294 (Downtrend)
SMA 200	3.16 (Uptrend)
MACD (26d/12d)	0.028812 ( 0.000387 )
Signal (9)	0.027498 ( 0.000328 )
MACD Histogram	0.001314 (Bullish trend 2 days)
Bolinger Upper Band	3.439
Bolinger Lower Band	3.229

My notes based on 2012 quarter 3 report (number in '000):-
- Higher pbt mainly due to the increase in other operating income, net interest income and Islamic banking income and higher share of profits in associate

- Lower pbt from Investment Banking segment than FY11Q3 mainly due to the allowance for loan impairment of RM4.1 mil as compared to a write-back of RM18.3 mil

- Higher pbt from Insurance segment mainly due to higher earned premium from motor, fire and health classes of insurance, as well as the release of Unearned Premium Reserve (UPR) of RM52.3 mil due to the change in basis of UPR computation from policy booking dates and 1/24 method to policy inception dates and 1/365 method during the year

- Estimate next 4Q eps after 2012 Q3 result announced = 0.4022*1.05 = 0.4223, estimate PE on current price 3.38 = 7.65(DPS 0.15)
- Estimate next 4Q eps after 2012 Q2 result announced = 5892892*0.1/1494576 = 0.3943, estimate highest/lowest PE = 8.78/7.81 (DPS 0.12)
- Estimate next 4Q eps after 2012 Q1 result announced = 5758289*0.1/1494576 = 0.3853, estimate highest/lowest PE = 9.53/7.5 (DPS 0.12)
- Estimate next 4Q eps after 2011 Q4 result announced = 5592224*0.1/1494576 = 0.3742, estimate highest/lowest PE = 8.23/7.3 (DPS 0.12)
- Estimate next 4Q eps after 2011 Q3 result announced = 0.3377*1.05 = 0.3546, estimate highest/lowest PE = 8.94/7.39 (DPS 0.12)
- Estimate next 4Q eps after 2011 Q2 result announced = (0.071+0.0898)*2*1.05 = 0.3377, estimate highest/lowest PE = 9.21/6.4 (DPS 0.09)
- Estimate next 4Q eps after 2011 Q1 result announced = (0.071+0.077)*2 = 0.296, estimate highest/lowest PE = 11.76/9.8 (DPS 0.09)

AFFIN latest news (English)

AFFIN latest news (Chinese)

Financial Quarter Summary

a_date	year	qrt	h_price	l_price	div	roe	c_roe	rev	c_rev	pbt	c_pbt	prof	c_prof	eps	c_eps	asset	c_asset	liab	c_liab	mino	equi	cfo	cfi	cff	cash	fcf	net	final	share	c_share	m_cap	date	inte_m	oper_m	prof_m	vat	asset_t	pe	navps	ntaps	p/ntaps	cps	l_cur	l_qui	l_cash	g_de	g_da	avg_w	inv_d	rec_d	pay_d
2012-11-19	2012	3	N/A	N/A	0.15	2.89%	8.38%	773040	2228599	211906	614454	161708	468561	0.1082	0.3135	55049366	53477134	48991636	47498743	-	6057730	1902011	125031	302753	9675118	1776980	1474227	8200891	1494576	1494576	5036721	2012-09-30	42.4%	28.20%	27.41%	23.69%	0.0534	-	4.05	3.38	1.0	6.71	1.1259	0.9153	0.2112	8.0875	0.89	203.3%	1711	4139	8113
2012-08-17	2012	2	3.61	3.23	-	2.52%	5.49%	735674	1458346	195480	402932	140828	306853	0.0942	0.2053	54652398	53089081	48759506	47047266	-	5892892	1775275	167249	302728	9675118	1942524	1639796	8035322	1494576	1494576	5305744	2012-06-30	43.8%	27.85%	26.57%	27.96%	0.0521	-	3.94	3.27	1.09	6.69	1.1284	0.9119	0.2127	8.2743	0.8922	212.1%	1822	4207	8406
2012-05-25	2012	1	3.79	3.01	-	2.97%	2.97%	722672	722672	213944	213843	166025	166025	0.1111	0.1111	56639452	54618179	50881163	48967739	-	5758289	547616	1126877	302382	9675118	579261	276879	9398239	1494576	1494576	4498673	2012-03-31	42.4%	28.10%	29.60%	22.40%	0.0487	-	3.85	3.18	0.95	7.81	1.1154	0.885	0.2385	8.8362	0.8983	204.6%	2088	4173	9055
2012-02-20	2011	4	3.2	2.85	-	2.55%	9.77%	709816	2660243	174674	702811	132543	507995	0.0887	0.3399	53736054	52095364	48143830	47011242	-	5592224	1141649	140479	41863	8632085	1001170	1043033	9675118	1494576	1494576	4707914	2011-12-31	42.6%	25.54%	24.61%	24.12%	0.0496	9.2676	3.74	3.06	1.03	7.65	1.1081	0.8971	0.2431	8.6091	0.8959	190.9%	1876	4203	8882
2011-11-18	2011	3	3.29	2.74	0.12	2.60%	7.22%	680121	1950427	216230	528355	135198	375452	0.0905	0.2512	50947044	49163380	45360640	44069090	-	5586404	38177	513774	174802	8621191	551951	377149	8244042	1494576	1494576	4334270	2011-09-30	41.8%	32.24%	31.79%	37.47%	0.0505	-	3.74	3.06	0.95	6.51	1.1156	0.889	0.2209	8.1198	0.8903	197.9%	1948	4155	8589
2011-08-15	2011	2	3.2	2.25	-	2.58%	4.62%	648495	1273270	177942	317778	134187	240254	0.0898	0.1608	49409220	47462986	43966672	42539884	-	5442548	446327	1131909	174802	8621191	1578236	1403434	7217757	1494576	1494576	4678022	2011-06-30	46.3%	28.61%	27.44%	24.59%	0.0504	-	3.64	2.97	1.05	5.57	1.1157	0.8715	0.1958	8.0783	0.8898	197.6%	2044	4192	8367
2011-05-24	2011	1	3.57	2.99	-	2.04%	2.04%	624775	624775	140302	140111	106067	106067	0.0710	0.0710	48748170	46752795	43454979	42434309	-	5293191	825481	1326389	100884	8621191	500908	601792	8019399	1494576	1494576	5231016	2011-03-31	46.3%	23.36%	22.46%	24.40%	0.0488	-	3.54	2.87	1.22	5.62	1.1018	0.8554	0.1979	8.2096	0.8914	181.6%	2146	4264	8712
2011-02-24	2010	4	3.62	3.15	-	2.67%	10.32%	620544	2272995	156702	632112	126572	488625	0.0847	0.3270	47003908	45233061	41802875	40649144	-	5201033	2545095	85416	2245	6174651	2459679	2457434	8632085	1494570	1494439	4902189	2010-12-31	47.1%	24.39%	25.25%	19.23%	0.0484	10.0317	3.48	2.8	1.17	6.0	1.1128	0.8861	0.2206	8.0374	0.8893	201.7%	2038	4325	8993
2010-11-26	2010	3	3.73	3.08	0.09	2.43%	7.65%	597821	1652451	149197	476120	115015	362053	0.0770	0.2423	44969951	42873115	39800903	38743528	-	5169048	1339148	256263	4007	6174651	1595411	1591404	7766055	1494570	1494439	4737786	2010-09-30	50.8%	25.64%	24.96%	22.91%	0.0481	-	3.46	2.78	1.14	5.42	1.1066	0.8837	0.2092	7.6999	0.8851	190.9%	1998	4403	8944
2010-08-20	2010	2	3.31	3.03	-	2.36%	5.22%	534605	1054630	154311	327008	111706	247038	0.0748	0.1653	42803957	40763217	37755942	36731075	-	5048015	205068	466746	4225	6174651	671814	667589	6842240	1494374	1494373	4557840	2010-06-30	52.6%	28.00%	28.86%	27.61%	0.0485	-	3.38	2.7	1.13	4.8	1.1098	0.8808	0.1951	7.4794	0.8821	194.4%	2045	4417	8922
2010-05-31	2010	1	3.13	2.9	-	2.86%	2.86%	520025	520025	177323	177323	135332	135332	0.0906	0.0906	40830616	38820048	35900257	35022777	-	4930359	188541	795078	95266	6174651	606537	511271	6685922	1494317	1494317	4333519	2010-03-31	54.5%	32.47%	34.10%	23.68%	0.0497	-	3.3	2.62	1.11	4.68	1.1084	0.8794	0.1998	7.2815	0.8792	187.1%	1973	4262	8607
2010-02-25	2009	4	3.29	2.63	-	1.91%	8.43%	510409	2008858	114002	493752	84170	371843	0.0563	0.2488	39954143	37924591	35218854	34256574	-	4735289	1596041	1833947	399986	6812543	237906	637892	6174651	1494367	1494367	3945128	2009-12-31	58.5%	22.27%	22.34%	26.17%	0.0503	10.6097	3.17	2.48	1.06	4.33	1.1071	0.8492	0.1889	7.4375	0.8815	182.6%	2131	4102	8263
2009-11-20	2009	3	2.68	2.27	0.085	2.41%	6.52%	508867	1498449	139982	379750	106268	287673	0.0711	0.1925	38745123	36665419	34015785	33145076	-	4729338	1459292	1091833	400000	6812543	367459	32541	6780002	1494367	1494367	3556593	2009-09-30	57.9%	27.62%	27.51%	24.08%	0.0519	-	3.16	2.48	0.96	4.79	1.1062	0.8701	0.216	7.1925	0.8779	175.1%	1895	3926	8021
2009-08-20	2009	2	2.66	1.85	-	2.04%	4.11%	490606	989582	122911	239868	89817	181405	0.0601	0.1214	37385945	35314421	32788075	31718904	-	4597870	249170	452707	200000	6812543	203537	403537	6409006	1494367	1494367	2764578	2009-06-30	56.9%	25.09%	25.05%	26.93%	0.054	-	3.08	2.39	0.77	4.49	1.1134	0.8903	0.2116	7.1311	0.877	178.1%	1637	3883	7329
2009-05-15	2009	1	2.04	1.61	-	2.08%	2.08%	498976	498976	120265	120265	91588	91588	0.0613	0.0613	37275600	35113604	32762981	31985677	-	4512619	1303855	103681	500000	6812543	1407536	907536	7720079	1494371	1494371	2480655	2009-03-31	49.6%	23.73%	24.10%	23.84%	0.0555	-	3.02	2.33	0.71	5.35	1.0978	0.8929	0.2501	7.2603	0.8789	151.3%	1447	3622	7051
2009-02-24	2008	4	1.86	1.23	-	1.99%	6.91%	512575	2115438	115570	401821	84107	292762	0.0563	0.1958	36828131	34599463	32416826	31056786	-	4411305	1228707	19224	278294	8338768	1247931	1526225	6812543	1494367	1494862	1912789	2008-12-31	47.8%	23.76%	22.55%	27.22%	0.0574	6.5358	2.95	2.26	0.57	5.14	1.1141	0.8918	0.2475	7.3486	0.8802	167.5%	1487	3445	6680
2008-11-18	2008	3	1.53	1.22	0.05	1.27%	4.92%	516630	1602863	75167	286281	53895	208655	0.0361	0.1397	37025743	34915059	32639927	31327232	-	4385816	2051358	2660	223002	8338768	2054018	2277020	6061748	1493693	1493693	1896990	2008-09-30	45.2%	15.20%	14.55%	28.30%	0.0578	-	2.94	2.24	0.57	4.68	1.1145	0.871	0.2231	7.4422	0.8815	167.6%	1585	3443	6490
2008-08-14	2008	2	1.9	1.14	-	1.47%	3.65%	539071	1086233	89059	211114	62365	154760	0.0418	0.1037	37231872	35247526	32898993	31500736	-	4332879	244547	325921	223002	8338768	570468	347466	8686234	1492338	1492338	2835442	2008-06-30	46.0%	17.72%	16.52%	29.97%	0.0591	-	2.9	2.21	0.86	6.44	1.1189	0.9151	0.305	7.5929	0.8836	170.3%	1298	3171	6356
2008-05-15	2008	1	2.14	1.66	-	2.18%	2.18%	547162	547162	124414	124414	92395	92395	0.0619	0.0619	37334115	35294484	32996085	31623681	-	4338030	664105	389972	189827	8338768	1054077	864250	9203018	1492338	1492338	3029446	2008-03-31	44.8%	22.90%	22.74%	25.74%	0.0595	-	2.91	2.21	0.92	6.94	1.1161	0.9172	0.3275	7.6062	0.8838	165.2%	1265	3047	6350
2008-02-29	2007	4	2.26	1.92	0.03	1.63%	7.24%	537541	2184873	70595	350621	56795	251773	0.0390	0.1899	36132882	34066738	31895904	30314993	-	4236978	100384	494129	242677	7702346	393745	636422	8338768	1455182	1326084	3259607	2007-12-31	46.1%	15.56%	13.13%	19.55%	0.0605	11.798	3.2	2.41	0.93	6.84	1.1238	0.9063	0.3282	7.528	0.8827	171.7%	1330	2916	6110
2007-11-23	2007	3	2.78	2.04	0.02	1.73%	5.61%	576811	1647332	84651	280111	60039	194978	0.0463	0.1518	35975953	34010361	32272077	30527093	-	3703876	85612	1039650	122381	7702346	1125262	1002881	8705227	1295757	1284677	3317137	2007-09-30	42.3%	15.70%	14.68%	29.07%	0.0601	-	2.88	2.07	1.24	7.84	1.1141	0.9152	0.3327	8.7131	0.897	161.0%	1266	2988	6361
2007-08-29	2007	2	3.08	2.54	-	2.08%	3.88%	560962	1070521	108878	195460	72427	134939	0.0553	0.1036	38015986	36110183	34375388	32539020	-	3640598	2416128	1001203	133820	7702346	3417331	3283511	10985857	1310365	1302521	N/A	2007-06-30	38.6%	19.26%	19.41%	33.48%	0.0417	-	2.8	1.99	N/A	9.61	1.1098	0.9268	0.387	9.4422	0.9042	225.0%	1720	4021	9393
2007-05-14	2007	1	N/A	N/A	-	1.80%	1.80%	509559	509559	88847	88847	62512	62512	0.0485	0.0485	36823139	34890133	33235756	31454130	-	3587383	1165619	223816	117474	7702346	941803	824329	8526675	1289158	1289158	3029521	2007-03-31	39.2%	18.30%	17.44%	29.64%	0.0279	-	2.78	1.97	1.19	8.15	1.1092	0.8841	0.334	9.2646	0.9026	334.9%	3189	6119	14164
2007-02-26	2006	4	N/A	N/A	0.03	N/A	N/A	516498	1988029	119204	310579	96264	226918	0.0767	0.1829	35483992	33589276	32007149	30094003	-	3476843	4200861	216194	40913	3326204	4417055	4376142	7702346	1254878	1240877	2409365	2006-12-31	40.0%	23.66%	23.08%	19.24%	0.0146	10.4993	2.8	1.96	0.98	7.08	1.1161	0.8887	0.2951	9.2058	0.902	676.7%	6337	12550	27855

Financial Quarter Balance Sheet

year	qrt	Deferred tax assets (A-0)	Intangible assets (A-0)	Investment in associated companies (A-0)	Investment in jointly controlled entity (A-0)	Land held for sales (A-0)	Other assets (A-0)	Property, plant and equipment (A-0)	Amount due from associated companies (A-1)	Cash and cash equivalents (A-1)	Current tax assets (A-1)	Deposits with licensed banks (A-1)	Derivative financial assets (A-1)	Financial assets held-for-trading (A-1)	Financial investments available-for-sale (A-1)	Financial investments held-to-maturity (A-1)	Loans, advances & financing (A-1)	Statutory deposits with Bank Negara Malaysia (A-1)	Trade receivables (A-1)	Deferred tax liabilities (L-0)	Loans & borrowings (L-0)	Other liabilities (L-0)	Bills payables (L-1)	Deposits & placements of banks & other financial institutions (L-1)	Deposits from customers (L-1)	Derivative financial liabilities (L-1)	Obligations on securities sold under repurchase agreements (L-1)	Provision for taxation (L-1)	Recourse obligations on loans sold to Cagamas Berhad (L-1)	Trade and other payables (L-1)
2012	3	437	1008056	181497	128443	-	73367	180432	67226	8200891	35364	426765	60150	61008	9329074	612058	33088793	1401779	194026	15696	972398	504799	136042	5103987	41525547	64418	-	63793	417329	187627
2012	2	199	1010076	178263	116068	-	76314	182397	67225	8119690	34888	457256	37899	-	9570608	614353	32503873	1427953	255336	21013	972373	718854	115886	5549336	40547307	92098	-	68900	421071	252668
2012	1	131	1011340	175512	117016	-	537523	179751	67214	9477994	31575	826955	57256	280700	10372807	626049	31154232	1373704	349693	27993	972027	913404	571182	7066556	40455764	59409	-	47127	424777	342924
2011	4	470	1013419	155548	115430	-	177174	178649	67257	9740308	30445	279458	47023	149832	9122892	650923	30436846	1410141	160239	20729	669645	442214	82059	6867047	39363414	96954	-	16401	428459	156908
2011	3	930	1008543	153129	108931	-	329488	182643	66311	8333752	54518	243474	83791	-	9337533	650145	29138593	1159397	95866	15519	666310	609721	161383	4679046	38693932	120290	-	20646	277996	115797
2011	2	7708	1009490	154698	105843	-	488750	179745	66310	7288221	88533	163914	33861	15	9734953	656085	28422875	877971	130248	28416	666310	732062	148922	5892186	36029628	55505	-	6362	280826	126455
2011	1	15377	1009655	154116	109953	-	527519	178755	90624	8091037	79706	32832	43139	8	9921741	530842	27319952	273673	369241	18232	390624	611814	137178	6799753	34789691	56842	-	5736	283618	361491
2010	4	10180	1011867	152779	113311	-	305813	176897	90624	8673341	76291	18088	43254	149853	8528907	533458	26574066	275167	270012	25082	390624	738025	110161	6837631	33098432	57560	-	188	286370	258802
2010	3	95006	1013537	150323	105755	27332	539178	165705	90624	7824868	40132	2381	-	9971	8060458	563598	25736002	279630	265451	166	390624	666585	114528	5976792	32014752	-	-	91264	289085	257107
2010	2	4351	1014620	144837	108526	61332	535550	171524	90624	6901053	91900	7017	-	69826	7764084	576867	24890351	258018	113477	27000	390624	607243	115483	5165785	31009647	-	-	38324	291763	110073
2010	1	5607	1019765	135144	112605	62354	499547	175546	-	6740156	96405	1817	-	13	7397427	623704	23522766	256311	181449	27176	300000	550304	112847	5180908	29230463	-	-	34785	294523	169251
2009	4	57430	1023330	129228	107642	62354	452794	196774	-	6223544	18756	1817	24315	150000	8166664	518216	22496936	244982	79361	176	300000	662104	94265	5147094	28599251	41684	-	2734	297216	74330
2009	3	59029	1027919	121848	105545	66247	512695	186421	-	6828602	47194	102800	-	42	7298467	527279	21535970	228043	97022	2424	300000	568285	118523	4141168	28620186	-	-	22309	148618	94272
2009	2	69480	1033133	120282	105457	66571	483867	192734	-	6466690	50913	1800	-	70	6524371	550224	21299223	244096	177034	975	500000	568196	124473	3134119	28108014	-	-	55430	150000	146868
2009	1	64715	1035672	118203	103725	85269	556398	198014	-	7759836	47733	-	-	95042	5908856	549610	20477303	240445	34779	1526	200000	575778	86330	4567597	27248537	-	-	52320	-	30893
2008	4	63938	1037702	113661	96030	87412	626772	203153	-	6851602	41465	-	-	403813	5896608	602665	19927677	835628	40005	1257	700000	658783	136243	3888707	26934976	-	-	48831	11088	36941
2008	3	61362	1038995	116939	99130	81512	508291	204455	-	6101712	107333	13328	-	1194818	5808046	627581	19260418	874981	926842	363	700000	612332	112964	5041143	25147300	-	-	81132	24103	920590
2008	2	51489	1034792	115210	93749	81620	383983	223503	-	8725978	104193	36062	-	373002	5423513	625229	18258346	844429	856774	363	700000	697894	90411	4341711	26114975	-	-	62247	31060	860332
2008	1	40422	1037607	112335	97661	81620	442967	227019	-	9252139	95636	292080	-	327924	5307319	652619	17749212	811727	805828	2979	700000	669425	157836	4104375	26322706	-	-	51032	186617	801115
2007	4	32871	1036929	109976	97330	92835	470044	226159	-	8386113	72834	721548	-	280326	5868465	443307	17277639	841647	174859	4316	900000	676595	126697	4079074	25558739	-	-	25317	361510	163656
2007	3	42148	1040933	109498	107491	99324	324473	241725	-	8764417	73280	576943	-	639404	4616376	814729	16884713	813877	826622	17268	1020000	707716	91728	3384784	25815567	-	-	32924	430878	771212
2007	2	53589	1043362	107952	107403	100814	249516	243167	-	11041240	78838	750751	-	499306	4546426	907964	16768176	801220	716262	33182	1020000	783186	78415	4127369	25647998	-	1508975	24626	517556	634081
2007	1	67975	1044900	99806	107250	100814	262896	249365	-	8586515	101432	1142180	-	488248	5401385	1193131	16470803	776986	729453	30986	1020000	730640	112170	1179753	26842776	-	2096505	-	567340	655586
2006	4	87430	1048148	98342	107913	100814	223319	228750	-	7734134	104196	326482	-	533805	5245310	1065972	17356971	820755	401651	22809	1162644	727693	281177	1351527	25688093	-	1760313	5457	637758	369678

Financial Quarter Income Statement

year	qrt	Revenue	Income tax expense	Finance/interest costs	Other income	Administrative/Operating expenses	Share of profit/ (loss) of associates	Impairment loss	Net income from Islamic banking business	Write back/(Allowances) for losses on loans, advance & financing	Zakat	Profit equalisation reserve	Gain/loss on dilution of equity investment in associate	Share of net profit of jointly controlled entity	Interest income	Interest expense
2012	3	773040	49814	10717	116415	170098	3892	33	51117	7638	384	-	-	751	537790	309639
2012	2	735674	48261	10254	98024	173155	1710	303	48362	2446	6391	-	-	856	524001	294495
2012	1	722672	47818	9342	95022	172664	19567	9690	47026	4134	101	-	-	673	518447	298609
2011	4	709816	41913	6886	84643	163309	296	187	52268	15872	218	204	-	28	524659	301114
2011	3	680121	75379	6906	69065	162479	1969	70	50779	50246	5653	70	-	1916	505824	294184
2011	2	648495	43480	4999	78833	165846	517	191	46167	1014	275	134	-	3124	486234	260911
2011	1	624775	34044	3730	80531	167127	1451	800	46755	27057	191	-	-	3354	458349	246316
2010	4	620544	29420	3810	99987	165170	1249	4046	44496	32867	710	-	501	7421	444045	235104
2010	3	597821	34097	3781	86841	167583	2961	3795	45247	30314	85	271	0	3238	438477	215889
2010	2	534605	37979	3312	72756	157499	2290	441	44538	19192	4626	271	7962	2319	397407	188490
2010	1	520025	41991	2093	88153	149909	5504	104	43502	12435	-	-	-	5059	365880	166442
2009	4	510409	29832	2087	94998	155859	4062	5683	42630	86164	0	776	-	1632	380997	158036
2009	3	508867	33614	2212	84273	152491	1566	4928	42119	40202	100	2845	-	88	360667	151743
2009	2	490606	29786	4009	76563	151213	2079	2373	39790	37812	3308	3621	-	1732	354818	153043
2009	1	498976	28677	2723	62398	144931	4542	904	38098	20887	-	-	-	45	372173	187546
2008	4	512575	31433	2804	37657	144356	318	23192	40187	19590	30	-	-	3100	401371	209465
2008	3	516630	21272	2825	57796	145531	1729	4156	37405	46942	0	-	-	2259	398192	218242
2008	2	539071	24335	2895	81507	146598	2875	2841	34511	54918	2359	-	-	6462	387397	209199
2008	1	547162	32019	3588	88485	151096	2359	4095	36031	18204	-	-	-	331	389061	214870
2007	4	537541	13715	6273	82728	154479	3398	9763	34252	54230	85	0	-	10161	401950	216827
2007	3	576811	24612	7557	85872	167457	1546	13380	32229	28839	0	290	-	88	430347	248488
2007	2	560962	34186	7482	93082	127875	8146	15739	29684	30420	2265	1008	-	153	410313	251992
2007	1	509559	26335	8127	72135	131498	4384	607	33061	31494	-	797	-	663	388468	236015
2006	4	516498	21441	8933	110623	125789	9349	18099	33177	35549	1499	0	-	3437	394343	236481

Financial Quarter Segments Revenue

year	qrt	Others	Elimination/Adjustment	Investment Banking	Commercial Banking
2012	3	4713	15295	84612	699010
2012	2	4675	17055	80465	667589
2012	1	4728	17344	79392	655896
2011	4	2537	4523	73246	638556
2011	3	3797	1519	78151	594918
2011	2	5014	6650	77757	572374
2011	1	4560	2889	67611	555493
2010	4	4175	2385	67136	551618
2010	3	4286	2423	68305	527653
2010	2	3548	1650	48506	484201
2010	1	2381	1299	63172	455771
2009	4	1848	3211	56117	455655
2009	3	1868	3699	62972	447726
2009	2	1878	3412	57558	434582
2009	1	1982	4381	54108	447267
2008	4	3627	11631	40056	480523
2008	3	3518	3331	45714	470729
2008	2	4204	1596	39970	496493
2008	1	3520	914	58882	485674
2007	4	3088	2800	60671	476582
2007	3	3601	1668	75953	498925
2007	2	3672	875	70096	488069
2007	1	3157	987	77830	429559
2006	4	710	1210	85728	428850

Financial Quarter Segments Profit

year	qrt	Others	Elimination/Adjustment	Investment Banking	Commercial Banking
2012	3	889	11594	26951	178920
2012	2	922	11539	17433	175964
2012	1	903	11422	24956	166293
2011	4	706	10474	8452	164789
2011	3	1289	8789	41485	167934
2011	2	1100	6520	21593	157117
2011	1	753	4590	17325	123435
2010	4	576	4554	18363	129167
2010	3	597	4294	28521	119999
2010	2	521	3908	12309	133744
2010	1	483	3189	27881	138994
2009	4	334	3170	11463	101186
2009	3	325	3196	19768	118907
2009	2	90	3347	16933	104523
2009	1	402	2552	16399	100531
2008	4	995	2904	17779	137042
2008	3	592	2425	19163	97107
2008	2	1338	2641	18861	112315
2008	1	602	2785	15384	108164
2007	4	9054	3153	9894	62670
2007	3	836	954	8770	82292
2007	2	17452	1071	20101	105815
2007	1	17922	17677	23209	71226
2006	4	484	3370	54376	67926

Financial Quarter Segments Associate

year	qrt	Others	Insurance
2012	3	75	4718
2012	2	41	895
2012	1	37	20277
2011	4	-	478
2011	3	-	3885
2011	2	-	2607
2011	1	-	1903
2010	4	-	8670
2010	3	-	277
2010	2	-	29
2010	1	-	10563
2009	4	-	2430
2009	3	-	1654
2009	2	-	3811
2009	1	-	4587
2008	4	-	3418
2008	3	-	530
2008	2	-	3587
2008	1	-	2690
2007	4	-	6763
2007	3	-	1634
2007	2	-	8299
2007	1	-	3721
2006	4	-	5912

Short form reference
a_date = announcement date, yr = financial year end, qrt = quarter
h_price = stock highest price during the quarter, l_price = stock lowest price during the quarter
div = dividend recommend or declare in the quarter, roe = return on equity
c_roe = cumulative of return on equity during the financial year
rev = revenue in the current quarter, c_rev = cumulative of revenue during the financial year
pbt = profit before tax in the current quarter, c_pbt = cumulative of profit before tax during the financial year
eps = earnings per share in the current quarter, c_eps = cumulative of earnings per share during the financial year
asset = total asset, liab = total liability, mino = minority interest, equi = total equity
cfo = net cash flow from operating activities, cfi = net cash flow from investing activities
cff = net cash flow from financing activities, cash = cash and cash equivalents as at beginning of financial year
final = cash and cash equivalents as at current financial period ended
share = diluted/basic weighted average number of ordinary shares
c_share = cumulative of diluted/basic weighted average number of ordinary shares during the financial year
m_cap = market capital at announcement date of quarterly report, date = current financial period ended date
prof_m = profit margin, vat = income tax rate, pe = price earning per share ratio of recent four quarter
navps = net asset value per share, ntaps = net tangible asset per share, cps = cash per share
l_cur = liquidity current ratio, l_qui = liquidity quick ratio, l_cash = liquidity cash ratio
g_de = gearing debt to equity ratio, g_da = gearing debt to assets ratio
avg_w = working capital per thousand Ringgit sale
inv_d = days to sell the inventory, rec_d = days to collect the receivables
pay_d = days to pay the payables

CURRENT

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