wet my feet already! impulse buying!
i bought AFFIN mommy, [not the baby]...
started praying already~~~
my opinion:
~should get divvy for coming 2 Qtrs.. (3.8%pa)
~estimated forward PER is 13 at current price
~rumour merger with HLB
~outperform call from CIMB
*plz note that probably all good news are priced in already..
--
My understanding of the current rumour/story is:
Guoco, (G) wanna take over Bank of East Asia (BEA) in Hong Kong. Guoco has 8% stake in BEA. Meanwhile, BEA, which controls 20% stake in Affin and is also increasing stakes in Affin aggressively. Local news are reporting that there is a rumour that HLB wanna merge with Affin.
Looks like Tan Sri Quek is serious about expanding his banking business in China, from all the recent news to date..
trying to link up everything now..

--
More info:
CIMB maintains outperform call on Affin
http://www.theedgemalaysia.com/component/c...cle/152874.htmlBank of East Asia Rises on Takeover Speculation (Update2)
http://www.bloomberg.com/apps/news?pid=206...id=aQY0pE1.ncyw--
*Dont understand why ppl goreng the baby, now at a premium of 34% is very high.. Maybe sharks want to eat ikan bilis or speculate the mommy can reach 3.10...
*Need to read on how a merger can bring up share prices
*Trying to find shareholders list of Affin.. cant find in their Annual Reports~
*not recommending though, but instead maybe sifus can give some advice