Horizon.my

There is an article in The Star, Saturday 27/9/08 which quoted Cheah Tek Kuang as saying that Malaysian companies are looking to borrow from banks because the domestic bond market has dried up. Most Malaysian companies are healthy and it does not make sense for them to issue bonds at current prices.

Basically AMMB’s performance targets remain unchanged:

• 20% ROE
• 40% Cost-Income Ratio
• 20% Compounded Annual Growth Rate
• 8 – 10% loans Growth
• 2.2 – 2.5% NPL for YE 31/3/09
• Position itself as Top 3 in their chosen business segments
• FY09 net profit in line with analyst estimates of RM800-900 million

70% of AMMB’s profits generated from its commercial banking business which remains strong although investment & brokerage business sluggish.