Analysts: BII buy still expensive

PETALING JAYA: Analysts say Malayan Banking Bhd’s (Maybank) revised acquisition price of PT Bank Internasional Indonesia Tbk (BII) is still expensive despite a rebate of RM758.9mil.

An analyst with HwangDBS Vickers Research said although the rebate reduced Maybank’s purchase price to 433 rupiah (15.7 sen) per BII share from 510 rupiah (18.5 sen) earlier, the new deal was still more than four times BII’s book value compared with 4.7 times before.