SELL maintained. RHB Cap's 1Q12 results were within our
expectations and consensus, while the pricing and acquisition terms for
OSK too were not far from our estimates. Our forecasts are maintained,
as is our SELL call. Our TP of MYR7.20 tags on a FY12 P/BV of 1.3x on a
prospective FY12 ROE of 14%.
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Source: Maybank Research - 29 May 2012
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