AFG (2488) : Maybank KE Research maintains Buy on Alliance
KUALA LUMPUR: Maybank KE Research has maintained its Buy on Alliance Financial Group (AFG) with a target price of RM5.50.
In a note on Monday, the research house said it is still early and does not anticipate a change in AFG’s business direction nor its focus on consumer and SME financing.
"We however look forward to further augmentation of the business with a new leader at the helm," it said in a note on Monday.
Maybank said AFG has finally appointed a CEO, Joel Kornreich, who has over 23 years of experience in the financial services industry.
"There has been much uncertainty surrounding AFG’s leadership since the resignation of its previous CEO, Mr Sng Seow Wah, back in Jun 2014.
"With Konreich’s appointment, this clears one major uncertainty and it is positive is that he comes with an extensive consumer banking background, which would likely fit in well with AFG's overall strategy and profile," it said.
http://www.thestar.com.my
KUALA LUMPUR: Maybank KE Research has maintained its Buy on Alliance Financial Group (AFG) with a target price of RM5.50.
In a note on Monday, the research house said it is still early and does not anticipate a change in AFG’s business direction nor its focus on consumer and SME financing.
"We however look forward to further augmentation of the business with a new leader at the helm," it said in a note on Monday.
Maybank said AFG has finally appointed a CEO, Joel Kornreich, who has over 23 years of experience in the financial services industry.
"There has been much uncertainty surrounding AFG’s leadership since the resignation of its previous CEO, Mr Sng Seow Wah, back in Jun 2014.
"With Konreich’s appointment, this clears one major uncertainty and it is positive is that he comes with an extensive consumer banking background, which would likely fit in well with AFG's overall strategy and profile," it said.
http://www.thestar.com.my
