Maybank (RM7.97; Buy; Price Target: RM9.90; MAY MK) Expect positive surprises

• Malaysian operations may surprise, especially non-interest
income
• BII’s earnings disappointed in 2Q10, but loan growth was
exceptionally strong at 17% q-o-q
• Raised TP to RM9.90 (from RM9.10); Maybank remains
our high conviction stock pick