The Bursa Malaysia Finance Sector currently comprises many types of financial companies which include not just banks, but also insurance companies, stock broking companies and other finanial related companies.
To make the analysis purer, we have just created a table which shows the Malaysian banking stocks by themselves. You can view it here:
http://sharesmyway.com/blog/sector-summary-table/
As you can see, our banks have a total market value of around RM195 billion, equating to around 20 times current earnings which are not that cheap. But the analysis is distorted by heavyweights MAYBANK and CIMB which are on higher earnings. Also bank earnings are on a trajectory currently and the broader sector PE should be around 12-13x forward PE.
Tags: bursa malaysia banks