MALAYSIA - BANKING - Maybank IB downgrades BIMB to 'sell'

www.btimes.com.my -Maybank IB Research has downgraded BIMB Holdings Bhd to "sell" from "buy"’ as it sees the recent run-up in the Islamic financial institution’s share price as excessive.

“Much as we continue to view Bank Islam’s and Syarikat Takaful Malaysia Bhd’s (BIMB’s units) prospects positively, the recent run-up in BIMB’s share price is cause to pause and take stock,” the research house said in a note on Monday. (source)



BIMB’s shares have climbed 58 percent year-to-date, while Syarikat Takaful jumped 233 percent.

Maybank IB maintained BIMB’s target price at RM3.00 per share. --- Reuters

Source: http://www.btimes.com.my/Current_News/BTIMES/articles/20120625093317/Article/index_html  - June 25, 2012