Maybank achieves Bursa milestone

KUALA LUMPUR, 7 June 2017: 

Maybank’s latest achievement in becoming Malaysia’s first listed company to breach the RM100 billion market capitalisation mark, has got the “thumbs-up” from former president and chief executive officer Tan Sri Abdul Wahid Omar.

“Congratulations to the board, management and all Maybankers! At RM100.5 billion, Maybank is not only the most valuable company listed on Bursa Malaysia, but Maybank Islamic (three times larger than Bank Islam) is also the fifth largest Islamic bank in the world,” he said in an online message today.

Abdul Wahid, who is now chairman of Maybank’s largest investor – Permodalan Nasional Bhd (PNB) – said many people did not realise the achievement is a milestone in the country’s capital market history.

“Let us all continue to support Maybank to grow to the next milestone of RM200 billion based on fundamentals. After all, half of Maybank’s shares belong to PNB and its 13 million Malaysian unit holders.”

Maybank, already the country’s largest bank by assets and the largest public listed company on Bursa Malaysia, surpassed the RM100 billion market capitalisation after the listing of 243.6 million shares issued following the recent Dividend Reinvestment Plan.

With total shares of 10.52 billion post the Dividend Reinvestment Plan, the bank needs to be traded at RM9.50 to hit the RM100 billion mark.

Despite easing three sen, the bank’s shares closed today at RM9.55, putting its market capitalisation at RM100.5 billion.

The counter, which stood as the top weighted component heavyweight in the benchmark FTSE Bursa Malaysia KLCI, hovered between RM9.60 and RM9.50 throughout the trading session today.

A reflection of investors confidence in the Malaysian economy and given Maybank’s fundamentals, the bank’s market capitalisation has more than doubled in the last 10 years from RM46.7 billion in Dec 2007 to RM100 billion today.

Leave a Reply