External broker reports(aggregated public sources), Hong Leong Investment Bank Berhad

Hong Leong Investment Bank Berhad

External broker reports(aggregated public sources)

Hong Leong Investment Bank Berhad operates as an investment banking company. The Company provides debt and equity funding, private debt securities issuance, merger and acquisitions, initial public offerings, corporate restructuring, and stockbroking services. 

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Equity Bottom-Up

<ul><li>We remain positive on the group’s prospects, particularly due to the strong growth in capital financing, which recorded a PBT of RM26.1m in 1Q24, up 13.6% QoQ and 41.8% YoY.</li><li>Growth prospects for the segment remain strong anchored by Australia and civil servant segment.</li><li>The property segment expects RM1.75bn in launches for FY24, which is a record high in recent years. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

We remain positive on the group’s prospects, particularly due to the strong growth in capital financing, which recorded a PBT of RM26.1m in 1Q24, up 13.6% QoQ and 41.8% YoY.Growth prospects for the segment remain strong anchored by Australia and civil servant segment.The property segment expects RM1.75bn in launches for FY24, which is a record high in recent years. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

OSK Holdings - An Emerging Force in Private Credit Market

<ul><li>OSK reported 1Q24 core PATAMI of RM122.8m (+26.7% QoQ; +6.4% YoY). The results were within our expectation, making up 26.4% of our full-year forecast.</li><li>The group is on track to record another year of solid growth anchored by property development from better progress billings and project cost savings, capital financing from higher loan portfolio and better economies of scale and industries from growing cables and IBS demand.</li><li>Its associate RHB is also expected to deliver stable performance given improving capital market from realization of investment activities. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

OSK reported 1Q24 core PATAMI of RM122.8m (+26.7% QoQ; +6.4% YoY). The results were within our expectation, making up 26.4% of our full-year forecast.The group is on track to record another year of solid growth anchored by property development from better progress billings and project cost savings, capital financing from higher loan portfolio and better economies of scale and industries from growing cables and IBS demand.Its associate RHB is also expected to deliver stable performance given improving capital market from realization of investment activities. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

<ul><li>OSK’s FY23 results saw record-high revenue and strong earnings growth of +10.2% YoY, driven by robust performance in capital financing and industries.</li><li>Growth prospects remain promising for the group in FY24. For property development, the group is scaling up launches in Malaysia and actively looking for new landbanks.</li><li>Capital financing should see strong growth from its growing civil servant and Australia segments. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

OSK’s FY23 results saw record-high revenue and strong earnings growth of +10.2% YoY, driven by robust performance in capital financing and industries.Growth prospects remain promising for the group in FY24. For property development, the group is scaling up launches in Malaysia and actively looking for new landbanks.Capital financing should see strong growth from its growing civil servant and Australia segments. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

OSK Holdings - Setting Sail for a Stronger FY24

<ul><li>OSK reported 4Q23 RM97m (-21% QoQ; -20.1% YoY), which brought FY23’s sum to RM466.1m (+10.2% YoY).</li><li>The results were within our expectation, making up 96.9% of our full year forecast.</li><li>The group’s 4Q23 core earnings dipped both QoQ and YoY as a result of higher tax expenses during the quarter.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

OSK reported 4Q23 RM97m (-21% QoQ; -20.1% YoY), which brought FY23’s sum to RM466.1m (+10.2% YoY).The results were within our expectation, making up 96.9% of our full year forecast.The group’s 4Q23 core earnings dipped both QoQ and YoY as a result of higher tax expenses during the quarter.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

<ul><li>Our recent meeting with the management has bolstered optimism about the group's future prospects.</li><li>The recent -6.1% QoQ decline in 3Q23 core earnings was primarily due to a drop in profit share from RHB which overshadowed the robust growth and strength of OSK's business segments, notably from cables, IBS, and capital financing.</li><li>The bright prospects of capital financing and cables are reflected in the valuation and share price of OSK’s listed peers. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Our recent meeting with the management has bolstered optimism about the group's future prospects.The recent -6.1% QoQ decline in 3Q23 core earnings was primarily due to a drop in profit share from RHB which overshadowed the robust growth and strength of OSK's business segments, notably from cables, IBS, and capital financing.The bright prospects of capital financing and cables are reflected in the valuation and share price of OSK’s listed peers. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

OSK Holdings - Uncovering Underlying Business Strength

Malaysia

OSK Holdings Berhad is an investment holding company. Through its subsidiaries, the Company provides retail and institutional broking in equities, futures and fixed income, underwriting and placement of securities, corporate finance and advisory, commercial and wholesale banking, asset management, trustee services and issues derivatives and structured products.

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O.S.K. Holdings (OSK MK)

OSK Holdings - An Emerging Force in Private Credit Market

We remain positive on the group’s prospects, particularly due to the strong growth in capital financing, which recorded a PBT of RM26.1m in 1Q24,...

Hong Leong Investment Bank Berhad

OSK Holdings - Solid Start for FY24

OSK reported 1Q24 core PATAMI of RM122.8m (+26.7% QoQ; +6.4% YoY). The results were within our expectation, making up 26.4% of our full-year forecast.

Hong Leong Investment Bank Berhad

OSK Holdings - Setting Sail for a Stronger FY24

OSK’s FY23 results saw record-high revenue and strong earnings growth of +10.2% YoY, driven by robust performance in capital financing and industries.

Hong Leong Investment Bank Berhad

OSK Holdings - Record High Revenue

OSK reported 4Q23 RM97m (-21% QoQ; -20.1% YoY), which brought FY23’s sum to RM466.1m (+10.2% YoY). The results were within our expectation, making...

Hong Leong Investment Bank Berhad

OSK Holdings - Uncovering Underlying Business Strength

We maintain our BUY rating with a higher TP of RM2.04 (from RM1.77) based on 30% discount to our revised SOP-derived value of RM2.91.

Hong Leong Investment Bank Berhad

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