Millat Tractors (MTL) has reported a consolidated 4QFY21 NPAT of PKR1.8bn (EPS: PKR31.38), down 6% qoq, while up a sharp c.80% yoy from a NPAT of PKR1.0bn (EPS: PKR17.26) SPLY. This takes FY21 payout to PKR100/sh, with 32.5% bonus share issue. Revenu...

Until last month global FX volatility was in the doldrums, so much so that the JP Morgan G7 Currency Volatility Index (a reliable gauge for foreign exchange volatility on a global scale and major developed and emerging market economies, respectively)...

Bloomberg today reported that BNI plans to issue perpetual bonds (AT1) next week worth US$600m. It will be the first Indonesian bank to issue AT1. We estimate a negative impact of 1.5-3% to earnings via higher interest expense, ceteris paribus. We r....

The government is currently preparing regulations on UHC programme class simplification (from three classes currently), with a target to test that by 2022. There will only be two UHC classes –subsidised and non-subsidised. Patients will be able to u....