MBSB – closed at RM 1.05 and we still issue buy call

Our view of it fair value around RM 1.60 to 1.80.  Stabilise it’s profit but stop adjusting it’s NPL from 6 months to 3 months is a key issue.  Our investment target for MBSB is not for trading game. Rather it’s aim to be the largest Islamic banking arm in this region.  The potential is huge and one of the rare germ stone in the market.