capitalising on the asean marketplace...2013/06/13 · san miguel corporation completed april 2012...

0

Capitalising on the ASEAN marketplace

Invest Malaysia 2013Shangri-La Hotel, Kuala Lumpur

13 June 2013

www.maybank.com

1 1

Our Vision is “To Be A Regional Financial Services Leader”

Achieving the Maybank Vision…

On-track earnings performance for 1Q FY13, despite

challenging market conditions

Continued progress on ASEAN regionalisation, with PBT

contribution at 22.8% for 1Q FY2013

Strong momentum created to achieve 2015 strategic

objectives

Stronger economic growth anticipated in second half of 2013

1

2

3

4

2

Invest Malaysia 2013

Overview of Recent Performance

Maybank & ASEAN

Our Strategic Thrusts

Outlook & Guidance for 2013

3

We delivered an eight fold increase in profit from 2009 to 2012

* FY2009: Lower net profit due to impairment of investment in BII and MCB

# RM2.67 billion: FY2009 PATAMI before impairment of investment in BII and MCB

^ 6 months Financial Period ended 31 Dec 2011 due change in financial year end.

2.67 #

RM 6 billion

Rights Issue

Launched

House of

Maybank

Acquired

Kim Eng

Summary of Analysts' Recommendations

Target Price RM10.53

Coverage 27 analysts

Recommendations 19 Buy, 6 Hold, 2 Sell

Analysts'

Consensus:Net Profit (RM mil.)

FY2013 6,139

FY2012 PATAMI of RM5.74

billion was 5.6% ahead of

consensus

RM 3.66 billion

Equity Private

Placement

0.69

3.824.45

2.58

5.75

1.51

3.1%

14.5%15.2% 16.2% 16.0%

14.20%

0%

2%

4%

6%

8%

10%

12%

14%

16%

18%

0

1

2

3

4

5

6

7

FY2009 * FY2010 FY2011 6 monthsFP2011 ^

FY2012 1Q FY2013

RO

E

PATAM

I (R

M b

illion)

Net Profit (LHS) ROE (%) (RHS)

4

And recorded improved performance for 1Q FY2013

RM million 1Q 2013 1Q 2012 % YoY 4Q 2012 % QoQ

PATAMI 1,506.2 1,346.9 11.8% 1,459.6 3.2%

PBT 2,126.7 1,894.6 12.3% 1,949.3 9.1%

Net Income 4,469.9 4,209.3 6.2% 4,409.1 1.4%

Net Fund Based Income 2,886.6 2,586.9 11.6% 2,784.3 3.7%

Net Fee Based Income 1,583.3 1,622.4 (2.4)% 1,624.8 (2.6)%

Gross Loans* 321,979 287,097 12.1% 317,345 1.5%

Domestic** 202,415 182,883 10.7% 199,752 1.3%

International 119,564 104,214 14.8% 117,593 1.7%

Gross Deposits 355,440 320,235 11.0% 347,156 2.4%

Domestic 230,439 211,673 8.9% 227,268 1.4%

International 125,001 108,562 15.1% 119,888 4.3%

* Including Islamic loans sold to Cagamas and excludes unwinding of interest

** Takes into account others portion - Dec 12: (0.1) vs Dec 11: 0.1

Note: P&L figures for 1Q FY2012 are restated figures post-MFRS10 application

5 5

Our high dividend payout and rising share price provide good return to shareholders

Maybank provides amongst the highest dividend yields of Asian banks

* 9:20 Rights Issue at RM2.74 in March 2009

EPS, DPS and Share Price

12.0

53.9

61.4

34.5

72.7

17.9

8.0

55.0 60.0

36.0

65.0

-

5.90

7.56

8.94 8.58

9.20 9.35

0.00

1.00

2.00

3.00

4.00

5.00

6.00

7.00

8.00

9.00

10.00

0

20

40

60

80

100

120

FY2009 * FY2010 FY2011 6 monthsFP2011 ^

FY2012 1Q FY2013

Share

Pri

ce (

RM

)

EPS a

nd D

PS (

sen)

Earnings per share Dividend per share Closing Share Price

6



Maybank & ASEAN



7

Maybank is one of the top banking groups in ASEAN

PATAMI (USD mil): 4 quarters to 31 Mar 2013

28

38

41

55

66

70

107

120

135

183

38

43

44

57

75

86

118

136

152

201

Bank Central Asia

Bank Rakyat Indonesia

Bank Mandiri

Siam Commercial Bank

Public Bank

CIMB

Maybank

OCBC

UOB

DBS

Deposits

Loans

No. 4 No. 4

No. 2

No. 5

46

54

66

81

93

118

170

215

249

301

Bank Central Asia


Bank Mandiri


Public Bank

CIMB

Maybank

UOB

OCBC

DBS

1275

1292

1401

1544

1780

1969

2049

2298

3256

3311

Public Bank

Bank Central Asia


CIMB

Bank Mandiri

Maybank


UOB

DBS

OCBC

Market Capitalisation (USD bil): 12 Jun 2013

Loans and Deposits (USD bil): 31 Mar 2013Total Assets (USD bil): 31 Mar 2013

18.2

19.0

19.1

19.9

20.8

23.5

25.1

27.6

29.0

31.0


Public Bank


CIMB

Bank Mandiri

Bank Central Asia

UOB

OCBC

Maybank

DBS

8 8

We have presence in all 10 ASEAN countries

Worldwide Presence ASEAN Presence

9

We have a leading presence across ASEAN

BANK

MARKET

CAP

31 Mar 13

(USD bil)

TOTAL

ASSETS

31 Mar 13

(USD bil)

MA

LAY

SIA

SIN

GA

PO

RE

IND

ON

ESIA

TH

AIL

AN

D

PH

ILIP

PIN

ES

BR

UN

EI

VIE

TN

AM

CA

MBO

DIA

LA

OS

MYA

NM

AR

1 DBS 31.5 301

2 OCBC 29.5 249

3 MAYBANK 25.7 166

4 UOB 25.9 215

5 BCA 28.9 46

6 MANDIRI 24.0 66

7 CIMB 18.4 110

8 SCB 20.6 81

9 PUBLIC 18.4 93

10 BANGKOK 14.5 83

Investment Banking Affiliate/Representative OfficeUniversal Banking Retail & Commercial Banking

10

20.2% 19.1%20.6%

22.2%

3.1%

5.2%3.2%

8.0%

23.3%24.2% 23.8%

30.2%

FY 2010 FY 2011 CY 2011 FY 2012

Our ASEAN home markets are delivering higher profit contribution to the Group

PBT Contribution by Market

Others

Total International

(ASEAN + Others)

ASEAN

ex-Malaysia

11

• Continue to maintain our strong brand and leadership position in

the domestic market.

• Expected to continue with ETP investment momentum

• Largest network domestically and emerging regional leader with

presence in 10 ASEAN countries.

• Maintain our position as the 4th „local‟ bank in Singapore

• Continue to be an important hub for trade finance and M&A

activity

• Optimise business synergies within the Group with overall client

coverage focus.

• Leverage on technology to strengthen offerings and deepen

customer penetration.

• Indonesia expected to build on strong domestic economy &

maintain growth projections

• We will provide distinctive „privileged‟ and relationship-based

services.

• Empower the community through superior services and

convenience for SMEs.

• Tailor financial services to the needs of mid-corporates and

commercials.

Malaysia

Singapore

Indonesia

We are strengthening our position in all three home markets…

Maybank is now strategically positioned across ASEAN, and well placed to

further grow international operations towards a 40% PBT contribution

12

…while focusing on building our regional footprint

• Capture opportunities in trade financing and corporate banking

business within the region.

• Leverage on regional network to capture the cross border

transactional banking market.

• Facilitate economic growth in Indochina and capture

opportunities arising from the region‟s development.

• Expand brokerage services in Vietnam to capture

increased activity on the country‟s stock exchange.

• Focused on doubling our distribution

channel to 100 branches by 2014.

• Expand our service offering.• Lookout for suitable

inorganic options to

expand footprint

Hong Kong and Greater China

Indochina

PhilippinesThailand

13



Maybank & ASEAN



14

We have made significant progress towards achieving our strategic objectives

1

2

3

4

5

Undisputed No. 1 Retail Financial Services provider in Malaysia

Rising market share with further opportunities for growth

Leveraging on dominant presence to deepen wallet share

Leading ASEAN wholesale bank eventually expanding further to Middle East, China & India

Global Banking with Maybank Kim Eng secured notable deals across the region

Maybank Kim Eng ranked in the Top 2 in Capital Market deals in 2012 andnow a major regional investment banking player

Global leader in Islamic Finance

Maybank Islamic surpasses RM1.0 bil PBT mark and

is among the top 3 underwriters in the Global Islamic Bond market

Potential for growth in our home markets

Undisputed Insurance & Takaful Leader in Malaysia and Emerging Regional Player

No.1 ranking in life & family and general & general takaful market share

Expanding bancassurance model outside Malaysia

Truly regional organisation, with ~40% of pre-tax profit derived from international

operations

International PBT contribution increased to 30% in FY2012 from 24% CY2011

with a total PBT of RM7.89 billion

15

Rising market share with further opportunities for growth

Undisputed No. 1 Retail Financial Services provider in Malaysia by 20151

17.3%

20.2%

Dec 09 Dec 12

13.4% 13.4%

Dec 09 Dec 12

15.7%

17.0%

Dec 09 Dec 12

Auto Finance

Total Mortgage*

Credit Cards #

Mark

et

Share

Industry

Position

No. 2

No. 2

Total Consumer/Household

15.7%17.0%

Dec 09 Dec 12

* Refers to Housing & Shophouse Loans

# The above market share for Cards refers to Receivables. In terms of Cardbase,

Billings and Merchant Sales, Maybank is ranked No. 1.

The industry figure above includes commercial banks and Non-Financial Institutions

No. 2

Industry

PositionNo. 2

Largest network in

Malaysia with 3,208

touch points

„Best Retail Bank in

Malaysia‟ by Asian

Banker

16

Leading ASEAN wholesale bank eventually expanding further

to Middle East, China & India

Global Banking with Maybank Kim Eng secured notable deals across the region

Astro Malaysia Holdings Berhad

Completed October 2012

RM 15.6 billion

IPO

Sapura Kencana

Completed May 2012

RM 11.2 billion

Merger & Listing

Felda Global Ventures Holdings

Bhd

Completed June 2012

RM 10.4 billion

IPO

DanaInfra Nasional Bhd

Completed July 2012

RM 8.0 billion

Sukuk

DRB-Hicom Bhd

Completed June 2012

RM 3.02 billion

Term Loan/IB

Malaysia Airports Holdings

Berhad

Completed March 2012

RM 616 million

Private Placement

Gas Malaysia

Completed June 2012

RM 734.45 million

IPO

Tanjung Bin Energy


RM 6.6 billion

Project Financing

San Miguel Corporation

Completed April 2012

RM 1.8 billion

Term Loan Facility

South Luzon Tollway

Corporation


PHP 28.5 billion

Term Loan Facility

Marina Bay Sands Pte Ltd

Completed June 2012

SGD 5.1 billion

Term Loan & RCF

MS Commercial Pte Ltd/ Ophir-

Rochor Comm Pte Ltd


SGD 5.0 billion

Term Loan

Khazanah Nasional


SGD 750 million

Term Loan

Genting Hong Kong Limited

Completed August 2012

USD 600 millionTerm Loan & Revolving Credit

Facility

Malaysia Philippines

Hong KongSingapore

2

17

Ranked in the Top 2 in Capital Market deals in 2012

Maybank Investment Bank (Malaysia): Industry Position & Market Share

Source: 1 Bloomberg 2 Bursa Malaysia

FY 2012 CY 2011

Industry

Rank by

Value

Market

Share

Total

Value

(RM bil)

Deals /

Issues

Industry

Rank by

Value

Market

Share

Movement

of ranking

M&A1 1 36.49% 46.6 30 2 34.6% +1

Equity & Rights

Offerings1 2 19.7% 6.2 11 2 15.9% 0

Debt Markets –

Malaysia Domestic

Bonds1

2 25.6% 30.2 170 2 27.1% 0

Debt Markets –

Malaysia Ringgit

Islamic Bonds1

2 27.7% 26.5 159 2 22.2% 0

Equity Brokerage2 2 7.1% 57.6 - 5 6.5% +3

18

Maybank Kim Eng now a major regional investment banking player

1,207 1,331

CY 2011 FY 2012

Revenue of RM1,331million with

Malaysia contributing 41%

Maybank Kim Eng: Total Income rose 10.3%

RM

million

Malaysia545.5, 41%

Singapore271.3, 20%

Thailand275.1, 21%

Philippines113.7, 9%

Indonesia33.2, 2%

Hong Kong 49.5, 4%

Others42.9, 3%

RM1,331

10.3%

RM1,331

millionCountry

Rank

2012Market Share

Trading Value

(RM million)

Thailand 1 11.9% 162,301

Malaysia 3 7.1% 57,607

Indonesia 6 4.8% 35,503

Philippines 4 7.3% 18,992

Singapore* 5 7.0% 107,024

Vietnam** 4 5.2% 2,441

*Rank is estimated based on market share

**Consolidated based on both Vietnam stock exchanges

Leading Equity Brokerage in ASEAN

19

We continue to hold the No.1 ranking in life & family and general & general takaful market share

Undisputed Insurance & Takaful Leader in Malaysia

and Emerging Regional Player3

Source: LIAM / ISM Statistics

Notes:

• Market ranking in the bracket.

• 2012 data is for 12 months ended September 2012

• ETB: Etiqa Takaful Berhad

• EIB: Etiqa Insurance Berhad

7.5% (3) 8.4% (2) 8.9% (3) 9.3% (3)

10.1% (1) 11.6% (1) 12.7% (1) 13.5% (1)

37.7% (1)41.6% (1)

45.5% (1)49.4% (1)

2009 2010 2011 2012

General & General Takaful

ETB EIB & ETB EIB

10.4% (4) 12.4% (4)8.9% (4)

12.0% (4)

18.2% (1)20.7% (1)

16.4% (1)18.7% (1)

45.3% (1)48.0% (1)

38.6% (1) 35.6% (1)

2009 2010 2011 2012

Life & Family Takful

10.1% (1)

11.6% (1)

12.7% (1)

13.4% (1)

18.2% (1)

20.7% (1) 16.4%

(1)

18.7% (1)

28.3%

32.3%

29.1%

32.1%

2009 2010 2011 2012

Insurance & Takaful

Life & Family + Gen &Gen Takaful

Life & Family

Gen & Gen Takaful

Mark

et

Share

and Indust

ry r

ank

Total asset grew 9.4%

YoY to RM 27.5 billion

in FY2012

Total Combined

Premium grew 14.7% in

FY2012

Etiqa awarded „The

Most Outstanding

Takaful Company‟ by

KLIFF

20

63.3%

31.0%

5.6%International:37%

CY2011

RM16.60b RM7.89b

Revenue Profit Before TaxFY2012

International:36%

International:34%

International:24%

International:30%

RM14.82b RM6.88b

Gross loans*

RM317.3b

RM282.8b

International:37%

(Jan 11 – Dec 11)

(Jan 12 – Dec12)

* Including Islamic loans sold to Cagamas and excludes unwinding of interest

Truly regional organisation, with ~40% of pre-tax profit derived from

international operations by 2015

International PBT contribution increased to 30% in FY2012 from 24% CY2011with a total PBT of RM7.89 billion

4

63.4%

30.8%

5.8%

Malaysia ASEAN Others

64.2%

31.5%

4.3%

66.3%

30.6%

3.0%

69.8%

22.2%

8.0%

76.2%

20.6%

3.2%

21

24.8% 26.1%28.5%

30.6%

Dec 09 Dec 10 Dec 11 Dec 12

462

698

953

1,190

Dec 09 Dec 10 Dec 11 Dec 12

Maybank Islamic surpasses RM1.0 bil PBT mark and

is among the top 3 underwriters in the Global Islamic Bond market

Maybank Islamic: PBT surpasses RM1 billionMaybank Islamic: Rising contribution to

Maybank‟s Domestic Financing

Global leader in Islamic Finance

No.3 in the Global Islamic Bond Market League Table

5

Underwriter Rank Issues

HSBC 1 19.6% 33.86 84

CIMB 2 16.0% 27.56 192

Maybank 3 15.2% 26.55 159

Standard Chartered 4 5.1% 8.78 19

AmInvestment Bank 5 9.8% 14.41 92

Amount

(RM mil.)

Market

Share

RM

million

22



Maybank & ASEAN



23

Opportunities and challenges

• New emerging markets in ASEAN e.g. Indochina and Myanmar

• Expansion & growth in Thailand

• Regionalisation of Islamic banking

• Development of regional financial solutions

• The Asean Economic Community and growth in Intra-Asean trade.

Opportunities

• Potential asset quality pressure arising from changing macroeconomic environment

• Competitive landscape to put further pressure on loan pricing & funding costs

• New regulatory requirements impacting competitiveness & operating landscape

Challenges & Risks

24

We have strong capital base to fund growth and comply with Basel III

Note:

- CET1, Tier 1 and Total capital ratio are computed in accordance with Capital Adequacy Framework (Capital Components) issued by BNM on 28 November 2012.

- Based on 85% reinvestment rate under the DRP, assuming without transitional arrangements, the CET1 Ratio would be at 9.17% (Group) and 7.65% (Bank)

respectively. However, if based on capital rules of Monetary Authority of Singapore, the CET1 Ratio would be higher by 0.92% (Group) and 0.77% (Bank).

9.51% 10.10% 10.20%

11.41% 12.00% 12.11%

14.17%14.76% 14.86%

31 Mar 13 31 Mar 13 31 Mar 13

Total Capital Ratio Tier 1 Capital Ratio CET 1 Capital Ratio

Full

electable

portion paid

in cash

Assuming 85%

reinvestment

rate

Full

electable

portion

reinvested

Capital Adequacy remained strong with DRP and following RM3.66 billion equity

placement in October 2012

Strong capital ratios under Basel III and to fund growth

25

Based on strong fundamentals, we are ranked the 13th Strongest Bank in the World

The ranking by Bloomberg is based on 2012 Tier 1 Capital ratio, funding ratio, asset quality

and operating efficiencies of all banks with total assets exceeding USD100 billion.

26

Maintaining our targets despite challenging market conditions in 1Q FY13

* Loans growth in local currencies

14.2%

Malaysia: 12.0%

Singapore*: 11.0%

Indonesia*: 22.0%

Return on Equity: 15.0%

Group Loans Growth: 12.0% 5.8%

-1.2%

9.5%

5.3%

6.9%

Group Deposits Growth: 12.0%

Actual 1Q FY2013

27

Mohamed Rafique Merican

Group Chief Financial Officer

Contact: (6)03-2074 7878

Email: [email protected]

MALAYAN BANKING BERHAD

14th Floor, Menara Maybank

100, Jalan Tun Perak

50050 Kuala Lumpur, Malaysia

Tel : (6)03-2070 8833

www.maybank.com

Narita Naziree

Head, Group Business Planning & Investor Relations

Contact: (6)03-2074 8017

Email: [email protected]

Disclaimer. This presentation has been prepared by Malayan Banking Berhad (the “Company”) for information purposes only and does not purport to contain all the

information that may be required to evaluate the Company or its financial position. No representation or warranty, express or implied, is given by or on behalf of the

Company as to the accuracy or completeness of the information or opinions contained in this presentation.

The presentation does not constitute or form part of an offer, solicitation or invitation of any offer, to buy or subscribe for any securities, nor should it or any part of

it form the basis of, or be relied in any connection with, any contract, investment decision or commitment whatsoever.

The Company does not accept any liability whatsoever for any loss howsoever arising from any use of this presentation or their contents or otherwise arising in

connection therewith.

Investor Relations Contact

Humanising Financial Services Across Asia

capitalising on the asean marketplace...2013/06/13 · san miguel corporation completed april 2012...

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