A Brief Look at Malayan Banking Bhd

Malayan Banking Berhad Company

Business Description:
Malayan Banking Berhad (Maybank) is engaged in the business of banking and finance. Through its subsidiaries, Maybank operates in six segments, which include

1. consumer banking, 
2. business and corporate banking, 
3. global market, 
4. investment banking,
5. insurance and asset management and 
6. international banking. 

Its global market segment comprises the full range of products and services relating to treasury activities and services, including foreign exchange, money market, derivates and trading of capital market instruments. Its investment banking segment comprises the business of an investment bank, discount house and securities broker. Its insurance and asset management segment comprises the business of underwriting all classes of general and life insurance, offshore investment life insurance, general takaful and family takaful, asset and fund management, nominee and trustee services and custodian services.

Current Price (7/1/2011): 9.00
Employees: 40,000
Market Cap: 65,900,163,519
Shares Outstanding: 7,322,240,391
Closely Held Shares: 4,362,026,586

2004 DPS 30.6 EPS 47.7
2005 DPS 53.7 EPS 47.6
2006 DPS 43.3 EPS 52.2
2007 DPS 41.3 EPS 57.8
2008 DPS 32.1 EPS 58.3
2009 DPS 6.00 EPS 33.5
2010 DPS 55.0 EPS 53.94
1Q11 DPS - EPS 14.53 NTA 4.0007

Estimated EPS for FY 2011 4*14.53 = 58.12 sen
Projected PE for FY 2011 = 15.5 x

Historical
5 Yr
PE range 11.3 - 17.4
DY range 5.4% - 3.6%

10 Yr
PE range 14.1 - 20.4
DY range 4.7% - 3.4%

Recent Financial Results

Announcement Date		Financial Yr. End		Qtr	Period End		Revenue RM '000		Profit/Lost RM'000		EPS		Amended
12-Nov-10		30-Jun-11		1	30-Sep-10		5,001,923		1,053,640		14.53		-
20-Aug-10		30-Jun-10		4	30-Jun-10		4,737,314		975,033		12.89		-
13-May-10		30-Jun-10		3	31-Mar-10		4,586,454		1,063,284		14.56		-
09-Feb-10		30-Jun-10		2	31-Dec-09		4,671,338		1,023,380		14.04		-

Capital Changes

2008 1/4 Bonus

2009 9/20 Rights @ RM 2.74

Related reading:

Risk comes from misjudgement of a company's prospects, not price volatility