Investor Relations
the group's Investor Relations activities continued to focus on effective engagement with the investment comunity through various comunication channels.
In 2012, the Group's Investor Relations Programme enhanced its mandate by strengthening communication with the investment community and financial markets. Specifically, the objective of our investor communications was to provide greater visibility on our domestic and regional business capabilities, and market outlook. One initiative arising from this was the introduction of the Maybank Investor Days which provided opportunities for investors to obtain more information on business sectors and engage with key leaders from respective sectors. In 2012, the Group conducted three investor days covering: Community Financial Services, Global Banking and Maybank Singapore.
Highlights
- Participated in roadshows and conferences and conducted Investor Days to enhance engagement with investors
- Updated the Group Investor Relations Policy for roll-out in 2013
- Maintained share register analysis to better understand our shareholders
- Attracted greater analyst coverage with higher proportion of positive recommendations and higher average target price
- Enhanced the investor relations section of the Group's new corporate website
Analyst Briefings
As in previous years, the Group's half year and full year results was presented by Senior Management at media and analyst briefings, with conference call facilities for overseas participants. First and third quarters results are usually conducted via conference calls with investors. The results announcements, presentations and other relevant documents were made available on the corporate website.
In addition to the results announcements, management conducted a conference call briefing with investors following the Group's private placement exercise in October 2012. The focus of the call was to highlight the Group's objective for the exercise and expected benefits from the capital raising.
| Key events | Date |
|---|---|
| Results Announcement | |
| Second Quarter FP2011 | 23 February 12 |
| First Quarter FY2012 | 25 May 12 |
| Second Quarter FY2012 | 16 August 12 |
| Third Quarter FY2012 | 9 November 12 |
| Other Events | |
| Annual General Meeting for FP2011 | 29 March 12 |
| Maybank Briefing on Private Placement Exercise | 9 October 12 |
| 2012 | 2011 | 2010 | |
|---|---|---|---|
| Results Announcement: Analyst briefings | 2 | 2 | 2 |
| Results Announcement: Teleconferences | 4 | 2 | 2 |
| Number of companies met (in-house meetings and roadshows) | 251 | 238 | 233 |
| Number of analysts/fund managers met (in-house meetings and roadshows) | 332 | 325 | 281 |
| Investor Day1 | 3 | - | - |
| Investor conferences & Non-deal roadshows | 5 | 6 | 5 |
1 New initiative for 2012
In-House Meetings
Growing interest from the investment community has led to more requests for meetings with Senior Management. The Group met 332 analysts and fund managers from 251 companies, up 2.2% and 5.5% respectively from the year before.
Roadshows, Conferences and Investor Days
To provide a better understanding of the Group's performance, development and future direction, we took part in local and international conferences and roadshows, including high profile events such as:
- UBS Malaysia Corporate Day in Hong Kong
- Invest Malaysia Kuala Lumpur 2012
- UBS Asean Investors' Conference in Singapore
- CLSA Investors' Forum 2012 in Hong Kong
At these events, Senior Management updated participants on the Group's performance, strategy and guidance for 2012. Maybank also conducted a non-deal roadshow in London and Edinburgh in November 2012, meeting with 27 fund management companies.
| Venue | Event | Date | Organiser |
|---|---|---|---|
| Kuala Lumpur | Investor Day: Community Financial Services | 8 March 2012 | Maybank IR |
| Hong Kong | Malaysia Corporate Day | 14-15 March 2012 | UBS |
| Kuala Lumpur | Invest Malaysia Kuala Lumpur 2012 | 29-30 May 2012 | Maybank Kim Eng |
| Kuala Lumpur | Investor Day: Global Wholesale Banking | 14 June 2012 | Maybank IR |
| Singapore | Investor Day: Singapore | 3 September 2012 | Maybank IR |
| Singapore | UBS Asean Conference | 3-4 September 2012 | UBS |
| Hong Kong | CLSA Investor's Forum 2012 | 10-12 September 2012 | CLSA |
| London/Edinburgh | Maybank Group Non-Deal Roadshow | 12-17 November 2012 | Maybank Kim Eng |
AGM/EGM
Our 52nd Annual General Meeting was held on 29 March 2012.
Website
The Maybank corporate website at www.maybank.com recorded increased hits and queries from both local and foreign visitors. One important initiative was the development of the new corporate website, which was launched in early 2013.
Share Register Analysis
We conducted four Share Register analysis in 2012, where we obtained breakdowns of shareholders by profile, amount of shareholding, investment style and geographical location. This enabled better understanding of the Group's shareholders and facilitated the planning of investor programmes.
Credit Rating
As part of our policy of providing both stakeholders and the public with an independent view of the Group, we continued to maintain credit ratings with five rating agencies: RAM Ratings, Malaysian Rating Corporation (MARC), Standard and Poor's (S&P), Fitch Ratings and Moody's Investors Services.
Analyst Coverage
As at December 2012, Maybank was covered by 30 research houses, with additional coverage by Daiwa Capital Markets, Morgan Stanley and Standard Chartered Bank. During the year, broader coverage by local and foreign sell-side equity research houses reflected greater interest in the Group.
| No. | Research House | No. | Research House |
|---|---|---|---|
| 1 | Affin Securities | 16 | HwangDBS Vickers |
| 2 | Alliance Research | 17 | JP Morgan |
| 3 | AmResearch Sdn Bhd | 18 | KAF Seagroatt & Campbell |
| 4 | BNP Paribas | 19 | Kenanga Investment Bank |
| 5 | BOA Merrill Lynch | 20 | Macquarie |
| 6 | CIMB | 21 | MIDF Research |
| 7 | Citigroup | 22 | Morgan Stanley |
| 8 | CLSA Asia Pacific | 23 | Nomura Securities |
| 9 | Credit Suisse | 24 | OSK Research |
| 10 | Daiwa Capital Markets | 25 | RHB Research Institute |
| 11 | Deutsche Bank | 26 | Standard and Poor's |
| 12 | ECM Libra Avenue | 27 | Standard Chartered |
| 13 | Goldman Sachs | 28 | TA Securities |
| 14 | Hong Leong Investment Bank | 29 | UBS Securities |
| 15 | HSBC | 30 | UOB Kay Hian |
Analyst Recommendations
We received 15 Buy calls compared to 14 last year and Maybank's average target price was raised from RM8.96 to RM9.62, an increase of 7.4%.