Board : MAIN-MKTSector: FINANCEStock Code: 1155

Malayan Banking Berhad (3813-K)

History and innovation of Maybank

• Incorporated in 31 May 1960• Begin operation on 12 September 1960• Begin first overseas branch in Brunei

Darussalam in 1960• 12 February 1962, Maybank listed on KLSE• Become first bank to introduce rural credit

scheme in 1974• First Malaysia to set up ATMs in Malaysia in

1981

• First Malaysia bank to open a branch in Shanghai, People’s Republic of China.

• First to launched Internet Banking kiosk in Malaysia called Maybank2u.com Internet Kiosk.

• Become first bank to achieve more than USD100 billion in total asset size and USD1 billion in profit after tax in 2010.

Maybank Structure

FINANCIAL ANALYSIS

Profitability Ratio

• Based on Annual Report 2012

Ratio Formula 2012 2011

Operating profit margin

EBIT 7,895/27,532=0.287@28.7%

3,571/12,892=0.277@27.7%

Sales

Net profit margin Net income available

5,745/27,532=0.209@20.9%

2,587/12,892=0.201@20.1%

Sales

Return on equity Net income available

16.0% 15.2%

Total equity

Market Ratio

• Based on Annual Report 2012

Ratio Formula 2012 2011

Earnings per share EBT 72.7 sen 34.5 sen

Ordinary share units

Price earnings ratio Market Price per Share

9.20/0.727=12.65 times

8.58/0.345=24.87 times

EPS

Maybank Share Performance

Financial Highlight

Financial Highlight for 1st Quarter 2013

• Unaudited financial statement

• Unaudited financial statement

Maybank Group Efficiency2012(RM million) 2011(RM million)

Operating revenue 27,532,461 12,892,202

Inventories - -

Receivables - -

Payables - -

Local competition

Maybank Competition

CIMB Bank

RHB bank

Public Bank

Competitors AnalysisStock Market Capitalisation EPS ROE

CIMB 62145.34 0.584 15.20

MAYBANK 90639.938 0.727 13.60

PBBANK 59972.103 1.105 21.56

RHBCAP 21549.957 0.689 13.13

• RM billion

Company Influence

• Opportunities• Strong Market in

ASEAN • Expansion Abroad

• Threats• Competition from

CIMB and PBBANK

• Weakness• Decreasing Net

Interest and Slow Loan Growth

• Same Markets Leadership

• Strengths• Largest Market

Capital• Most Valuable

Company in Bursa

Internal Internal

ExternalExternal

News and Issue

• Dato’ Sri Abdul Wahid Omar, the President & CEO of Maybank has been appointed as Minister in Prime Minister’s Department (press statement of Maybank on 15 May 2013)

• The unclear position for CEO replacing Dato’ Sri Abdul Wahid Omar. The announce will be in this month or earlier next month(NST,13 June 2013).

• Rank by Bloomberg as the world’s 13th strongest bank (AR,2012)

verdict

• The strongest of Maybank growth inside and outside Malaysia will ensure the price of share will go up.

• Maybank also show strength outside Malaysia as the profit for international operation is growing to 30.2% of group profit(AR,2012). The opening of new branch in Laos will also increase Maybank profitability.

• The announcement of new CEO might also increase the share price.

• We recommend to HOLD Maybank share as the price will expected to increase in the near future by 12%.