Moody's Investors Service has upgraded Bank of Ayudhya Public Company Limited's (BAY) long-term foreign-currency deposit rating to A3 from Baa1 and affirmed the bank's short-term foreign-currency deposit rating at P-2. Moody's has also upgraded BAY's Baseline Credit Assessment (BCA) to baa2 from baa...
Ngern Tid Lor (NTL), a financial service provider based in Thailand, raised around US$1bn in its Thailand IPO in May 2021. NTL provides hire purchase loans for motorcycles and cars, along with new and used trucks. It also provides insurance brokerage services through its branches for non-life and life insurance. It offers motor insurance, compulsory motor insurance, personal accident insurance, cancer insurance, and loan insurance. In this note, we will talk about the lock-up dynamics and upda...
BANK OF AYUDHYA (TH), a company active in the Money Center Banks industry, is favoured by a more supportive environment. The independent financial analyst theScreener has confirmed the fundamental rating of the title, which shows 3 out of 4 stars, as well as its unchanged, moderately risky market behaviour. The title leverages a more favourable environment and raises its general evaluation to Slightly Positive. As of the analysis date March 29, 2022, the closing price was THB 34.25 and its poten...
Rating Action: Moody's affirms Bank of Ayudhya's ratings; outlook remains stable. Global Credit Research- 18 Jan 2022. Singapore, January 18, 2022-- Moody's Investors Service has today affirmed the Baa1 foreign currency long-term bank deposit rating of Bank of Ayudhya.
Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Bank of Ayudhya. Global Credit Research- 12 Aug 2021. Singapore, August 12, 2021-- Moody's Investors Service has completed a periodic review of the ratings of Bank of Ayudhya and other ratings that are associated with the same analytical unit.
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
New COVID-19 infection cases are on the rise in Malaysia, Thailand and, to a smaller extent, Singapore. There are short-term headwinds as ASEAN countries tighten safe distancing measures to break the chain of local COVID-19 transmission. Singapore and Thai banks have reported strong 1Q21 results. Maintain OVERWEIGHT on Singapore and Malaysian banks. Our top BUYs are OCBC (Target: S$15.05), CIMB (Target: RM5.10), BBL (Target: Bt149) and BMRI (Target: Rp7,700).
Ngern Tid Lor (NTL), a financial service provider based in Thailand, aims to raise around US$1bn via selling a mix of primary and secondary shares in its Thailand IPO. Prior to listing, it was jointly owned by Bank of Ayudhya and CVC Capital Partners. As per Oliver Wyman’s estimates, NTL had a 16% market share in the vehicle lending market in Thailand, as of 2019. NTL provides hire purchase loans for motorcycles and cars, along with new and used trucks. It also provides insurance brokerage ser...
Ngern Tid Lor (NTL), a financial service provider based in Thailand, aims to raise around US$1bn via selling a mix of primary and secondary shares in its Thailand IPO. Prior to listing, it was jointly owned by Bank of Ayudhya and CVC Capital Partners. As per Oliver Wyman’s estimates, NTL had a 16% market share in the vehicle lending market in Thailand, as of 2019. NTL provides hire purchase loans for motorcycles and cars, along with new and used trucks. It also provides insurance brokerage ser...
Ngern Tid Lor (NTL), a financial service provider based in Thailand, aims to raise around US$750m via selling a mix of primary and secondary shares in its Thailand IPO. Prior to listing, it was jointly owned by Bank of Ayudhya and CVC Capital Partners. As per Oliver Wyman’s estimates, NTL had a 16% market share in the vehicle lending market in Thailand, as of 2019. NTL provides hire purchase loans for motorcycles and cars, along with new and used trucks. It also provides insurance brokerage se...
UOBKH ASEAN Banks Index gained 3.4% in February, led by Thailand and Singapore. We see twin positives of smooth progress in COVID-19 vaccination and higher government bond yields. We expect ASEAN banks to deliver lower credit costs and higher dividends in 2021. Maintain OVERWEIGHT. Our top BUYs are OCBC (Target: S$14.68), CIMB (Target: RM5.10), BBL (Target: Bt149) and BMRI (Target: Rp8,100).
UOBKH ASEAN Banks Index gained a moderate 1.9% mom in January, led by Thailand and Singapore banks. The resurgence of COVID-19 infections in Malaysia and Indonesia has created uncertainties. Nevertheless, COVID-19 vaccinations and recovery in domestic consumption are underway across the region. We expect ASEAN banks to be on track to deliver lower credit costs and higher dividends in 2021. Maintain OVERWEIGHT. Our top BUYs for ASEAN banks are OCBC, RHBBANK, BBL and BMRI.
GREATER CHINA Sector Consumer: Bi-weekly (16 Jan - 3 Feb) update. Results Ping An Healthcare and Technology Company (1833 HK/BUY/HK$111.40/Target: HK$140.00): 2020 revenue up 35.5% yoy; online medical services lead the growth. INDONESIA Update Ciputra Development (CTRA IJ/BUY/Rp950/Target: Rp1,200): Expect EPS to grow by 12.8% yoy in 2021, driven by affordable housing. MALAYSIA Update My EG Services (MYEG MK/BUY/RM1.85/Target: RM2.65): Expect MYEG to deliver another record earnings quarter, ba...
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