AMMB
THE final results are due in May. Kim Eng Ong Asia Securities expects the banking group's profits to fall below market expectation, citing higher loan-loss provisions and provisions for diminution in value of quoted investments. OSK Investment Re- search said the higher specific provisions would improve AMMB’s non-performing loans (NPL) coverage ratio to 60%, in line with the industry average of 65%. Both analysts recommend a buy for AMMB, citing attractive valuation. Based on Multex Glo- bal Estimates, the consensus forecast is RM301.8mil net profit for the financial year ended March 2003.
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