Source From (Business Times): http://www.btimes.com.my/Current_News/BTIMES/articles/20120514174209/Article/index_html
Published: Monday May 14
MIDF Research Sdn Bhd has maintained its "neutral" call on the Malaysia Building Society Bhd (MBSB) due to the limited
upside potential from the current share price.
"We
make no adjustment to our forecast as earnings are within
expectations," it said. MBSB's net profit was higher year-on-year but
dropped on a quarterly basis.
"The increase in yearly basis is
due to higher income from Islamic banking operations as a result of
personal loans expansion," it said in a research note.
MIDF said
MBSB's non-interest income for the first quarter financial year 2012
was lower by 6.7 per cent quarter-on-quarter to RM28 million due to
lower fee income as a result of promotional transfer packages for
personal loans disbursed in the quarter under review. -- Bernama
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