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KLSE:PBBANK

11 stories mentioning KLSE:PBBANKUpdated 14d ago

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Asia

Public Bank Proposes Privatization of Public Financial

Public Bank (KLSE:PBBANK) proposed, on Aug. 19, to privatize Public Financial (HKG:0626) through a scheme of arrangement for approximately HK$734.7 million.The privatization is subject to the relevant regulatory approvals, according to a Tuesday Hong Kong bourse filing by Public Financial.If approved, shares held by the company's shareholders will be cancelled at HK$2.50 apiece, with the same number of shares then being issued to Public Bank. As a result, Public Financial will become wholly owned by Public Bank.Trading in the company's shares, which was halted Aug. 20, will resume Wednesday, Sept. 9.

HKG:0626KLSE:PBBANK
Research

RHB Research Institute Downgrades Public Bank to Neutral from Buy; Price Target is MYR5.60

Public Bank (KLSE:PBBANK) has an average rating of overweight and mean price target of 5.54 ringgit, according to analysts polled by FactSet.

KLSE:PBBANK
Research

UOB Kay Hian Downgrades Public Bank to Hold from Buy; Price Target is MYR5.54

Public Bank (KLSE:PBBANK) has an average rating of overweight and mean price target of 5.54 ringgit, according to analysts polled by FactSet.

KLSE:PBBANK
Asia

TA Securities Downgrades Public Bank to Hold from Buy; Price Target is MYR5.36

Public Bank (KLSE:PBBANK) has an average rating of overweight and mean price target of 5.54 ringgit, according to analysts polled by FactSet.

KLSE:PBBANK
Asia

Malaysian Blue-Chip Index Mirrors Regional Gains on Lower Oil Prices

Malaysian shares rebounded to end in green on Wednesday, after Maulidur Rasul holiday. The blue chip index mirrored positive regional performance after a decline in oil prices.The FTSE Bursa Malaysia KLCI, the main gauge of Malaysian stocks, gained 12.21 points to end 0.7% higher at 1,748.54.In corporate news, shares of Mah Sing (KLSE:MAHSING) gained about 2% on close after its subsidiary, Capitol Avenue Development, signed conditional agreements to purchase around 14.38 acres of land in Selangor, Malaysia, for 186.2 million ringgit.MNRB (KLSE:MNRB) has submitted an application to Bank Negara Malaysia seeking the Ministry of Finance's approval for the proposed divestment of the takaful units Takaful Ikhlas Family and Takaful Ikhlas General. Shares gained over 1% on Wednesday's close.Public Bank's (KLSE:PBBANK) attributable net profit rose year on year to 1.82 billion ringgit during the second quarter from 1.76 billion ringgit. Shares gained 1% on today's close.

FTSE Bursa Malaysia KLCIKLSE:MAHSINGKLSE:MNRBKLSE:PBBANK
Asia

Public Bank's Profit Rises in Q2

Public Bank's (KLSE:PBBANK) attributable net profit rose year on year to 1.82 billion ringgit during the second quarter from 1.76 billion ringgit, according to a Wednesday Malaysian bourse filing.Earnings per share rose to 0.0943 ringgit from 0.0911 ringgit a year earlier.Net fee and commission income grew to 648.4 million ringgit during the period from 525.5 million ringgit.The board declared a first interim dividend of 0.105 ringgit per share for the reporting period, amounting to 2.04 billion ringgit, payable on Sept. 23.

KLSE:PBBANK
Research

AmInvestment Bank Downgrades Public Bank to Hold from Buy; Price Target is MYR5.60

Public Bank (KLSE:PBBANK) has an average rating of overweight and mean price target of 5.50 ringgit, according to analysts polled by FactSet.

KLSE:PBBANK
Research

Hong Leong Downgrades Public Bank to Hold from Buy; Price Target is MYR4.90

Public Bank (KLSE:PBBANK) has an average rating of overweight and mean price target of 5.45 ringgit, according to analysts polled by FactSet.

KLSE:PBBANK
Asia

Malaysian Shares Edges Lower Despite Record Job Growth

Malaysian equities logged a second day of fractional losses on Thursday, as record-high employment figures failed to offset a cautious mood across Asian markets.The FTSE Bursa Malaysia KLCI shed 0.73 points to end 0.04% lower at 1,745.58. The day range was between 1,740.35 and 1,750.63.In economic news, Malaysia's labor market expanded in the first quarter, with total jobs rising to 9.23 million, up from 9.06 million a year earlier, according to data released by the Department of Statistics Malaysia. Filled jobs increased 1.8% annually to 9.03 million, while vacancies edged up slightly to 194,800, keeping the overall vacancy rate at 2.1%.Malaysia and Taiwan are strengthening cooperation in the semiconductor value chain as artificial intelligence demand accelerates across industries, from manufacturing to healthcare, CNA reported.In corporate news, Public Bank (KLSE:PBBANK) booked a net profit attributable to owners of 1.75 billion ringgit, up 0.4% annually. The lender attributed the profit to steady loan and deposit expansion, alongside improved non-interest income. Shares slid 1% on Thursday's close.Whereas, shares of Destini (KLSE:DESTINI) gained about 2% on close after its unit Destini Oil Services bagged a contract from Petronas Carigali to provide tubular running services in the West Region of Malaysia.

FTSE Bursa Malaysia KLCIKLSE:DESTINIKLSE:PBBANK
Asia

Public Bank's Profit Remains Steady in Q1 as Loans, Deposits Expand

Public Bank (KLSE:PBBANK) booked a net profit attributable to owners of 1.75 billion ringgit, up 0.4% from a year prior, according to a Thursday Malaysian bourse filing.The lender attributed the profit to steady loan and deposit expansion, alongside improved non-interest income, while maintaining strong asset quality with a gross impaired loans ratio of 0.51% and robust capital ratios.Loans grew at an annualized pace of 5.7% to 452.1 billion ringgit, while and deposits expanded 5.3% to 453.1 billion ringgit.Return on equity stood at 12% and cost efficiency stood at 35.5%, the bank said.

KLSE:PBBANK
Asia

Public Bank to Seek Approval for Share Buyback Authority

Public Bank (KLSE:PBBANK) will seek shareholders' approval to renew its share buyback authority to purchase up to 10% of the issued shares in the company's upcoming annual general meeting, according to a Monday Malaysian bourse filing.Shares gained over 1% in Tuesday's afternoon trade.The lender will issue a statement containing details of the repurchase plan in due time, it noted.

KLSE:PBBANK

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