1. PAR value remain same for bonus issue; reduce by proportion in the case of split.
2. If issue new Right issue, price will adjust down base on the discount (drop a bit); if private placement no change etc. Par value remain unchanged.
3. No limit for the highest. I heard some share have par value of 0.5 cent. Some countries e.g. Singapore abolished the PAR value, they only mention number of share.

Correct me if I am wrong.

Even so.. this counter share price so difficult to fall.
When will it ever reach my target price of RM5.xx

yes difficult to fall, but isnt impossible, unlike nestle or bat, they never fall one. form klse 1500-->900 point

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Added on November 9, 2008, 9:31 pmdreamer
yes i believe investment valuation is done by everyone who have gone up and down, depend which group of investor u are, either 1/2 speculation?
that make thing great, i triving growth not dividend.
so valuing stock is important and not a secret.
basically there is always a saying
soros using technique analysis.
buffet using valuation.
who right?
equally good isnt it?

This post has been edited by normanTE: Nov 9 2008, 09:31 PM

normanTE,

1) You DID NOT answer my question. Which is why do you think Maybank is undervalued??

2) Growth has to be profitable or it is meaningless and the stock price will suffer in the process. Maybank cannot grow their domestic operation in a profitable fashion like PBBank. So, is it reasonable to ASSUME that they can do a good job oversea??

3) On the other hand, PBBank has been very CAUTIOUS on their oversea expansion. They know the DANGER of over-paying and over-stretching themselves. If I am not mistaken, their oversea operation is a lot more profitable than Maybank too.

Under-valued is a statement use in fundamental analysis aka valuation. Technical analysis only care about momentum aka price movement. Are you using the RIGHT term?

Dreamer

DREAMer
STOCK:

it is difficult to explain in word, it is maths and you compare ureself, check what is average p/e, roe, average earning pershare and dividend,
i found maybank is attractive, with the growth that more or less compare public bank, yes i am not denial public bank is well manage and careful with management, but the space for growth isnt much, i am looking for growth.
eg:
i bought LVS at 5 usd and sold at 13 usd in one week i gain > than 7k usd.

it not word it is a maths, please do ure home work. i cant teach as i am not qualify investment valuation tool.

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Added on November 10, 2008, 9:45 pmunless maybank had been giving a fake financial report for past 20 yrs then my study is damn wrong.
anyway to solve this problem, i am actually diversify,my financial portfolio, i bought some citigroup at lowest 12usd, hsbc at 88hkd, RBS at 50,

many road lead to rome, so not need to agrue too much of how i got there as long i got there.

This post has been edited by normanTE: Nov 10 2008, 09:45 PM

On paper, surely Maybanks is a lot cheaper than PBBank be it in term of book value, PER etc.

Currently, the main problem of Maybank is that investors wary off is that recent expensive acquisition saga.

If company is not looking after the shareholders benefits by buying expensive then investors generally don't view it is a good bet or investment. As for company, you needs just a few doggy decision that already can wipe out the previous years of profit being made.
What normal investors want is company looking after their benefits, as simple as that. Minority shareholders have no protection in term of mis-management of a company. Although Maybank is not reaching the state of mis-management, but the recent expensive acquisition doesn't being looked well at all, as minority shareholders can't object the decision even it will lead to hundred of millions of losses when the acquisition completed.

Maybank being selling at discount got its reason, it is not purely undervalued without any reason.

This stock so stable. In bear market price drop so slowly.
Does this stock rise slowly also in a bull market?

Found the data chart for PBBANK share price from 1993-2008

For own reference.

Looks like it is a very good stock to invest for long term.

Normante - who say's Public Bank has no growth potential? The way you talk suggests u are just analyzing things like a typical analyst.

Get your hands dirty please.

Do u know that Public Bank is one of the few banks left in the country without a direct sales force? They don't need a Price Solutions like Stan Chart or CSOS like Citibank. Why? Because customers GO TO THEM.

Do u know that each public bank branch is it's own documentation, credit, sales and disbursement center? That is EXTREMELY hard for the competition to replicate.

Have you ever taken a housing loan with PBB? Experienced their ISO service?

Perhaps you're not from banking, hence why you make such sweeping statements.

I think some of us may have forgotten that PBB is not a stock. It's a business.....a formidable one at that.

How many of us have actually used PBB's products? Or experienced it's great ISO service? Let's please go back to the basics here....before debating on PE's, dividend yields and all that fancy BS.

PS - I am a banker, but i'm NOT from PBB

Go on, i would like to listen more
what's ISO btw? i'm yet to take my 1st loan but i have a saving account with PBBANK.... the problem i faced wiz PBBANK is just the lack of ATM machines other than that, their service is pretty good

Hi Fergie,

ISO = International Organization of Standards. Yes, Shouldn't it be called IOS? It's a set of service standards that is awarded to companies that comply with its requirements.

e.g. The ISO 9000 series addresses the need for service quality and enhancing customer satisfaction. Long story short, it's a "throphy" for achieving some thing....sort of like how Penang wants UNESCO status.

Would like to share more on PBB......perhaps another day...

Are u shopping around for loans now?

I'm usually VERY cautious of these so called 'analysts'. They can say one thing today and then make a complete 180 the very next. Their so-called professional 'statements' more often than not have the element of self interest in them.

For instance only less than a year ago, analysts were actively speculating fuel prices to skyrocket to absurd levels. The very same people are now singing a very different tune as if they were saying like it is all along.

Now it seems now that the 'in' thing is to deem PBB and Malaysian Finance shares to be overpriced. I'm not saying they are 100% wrong but as an investor one should never ever rely fully on their 'services'.

What I am trying to convey is that one should not refuse information but take everything with a pinch of salt. To justify one's buy or sell decision based solely on analysts' reports is pure folly. They are not reliable at all and I doubt most of them are even that well aware of the Malaysian Financial situation aside from the crap BS ratios their respective company employ.

That's street smart, in our world we have more than one kind of smart, book smart can be wrong too.
But I still wait Not comfortable to go in now...
Just my 2 cents.

normanTE,

1) Do you understand BANKING business to begin with??

2) Do you understand Malaysian Banking industry??

Interest margin in Malaysia is VERY HIGH aka around 4%. So, banks are guaranteed to make money unless they have non-perfoming load (NPL). So, to judge whether a bank is managed well, you have to look at NPL.

PBBank as the lowest NPL among all the local banks. Maybank had to be bailed out several times by the government in order to lower the NPL.

3) For Chinese SME that do not understand English or Malay very well, you do not go to Maybank. You cannot filled out the forms. You need to talk to someone that know Hokkien, Cantonese, Hakka, or Teochew. PBBank has that. Maybank does not.

You STILL did not answer a BASIC question. If Maybank cannot compete locally, what makes you think they can do better oversea which is even tougher??

Dreamer

So, back to PBBank, it seems like this is a good counter to own, so have any one take in position for this counter?

With the down turn, PBBank may drop further despite these few days rebound...

expecting their final dividend

The last few days rebound most likely due to year end window dressing cos I am sure u guys know who the major shareholders of PBB are (besides Tan Sri Teh of course). Volume quite thin.

@ fergie1100

Yea. Me too. Should be around 50 cents?

yea, hope so too
i believe uncle Tan will give us good "Ang Pao"

When will be the announcement??