KUALA LUMPUR (Oct 24): RHB Research has upgraded its rating on Malaysia Building Society Bhd to a Buy, following its positive outlook on the company’s revived momentum of its corporate loans book, as well as controlled expenses ratios.

In a note Thursday, RHB Research said both factors should mitigate the reduced potential of its retail portfolio and personal financing business, which are priced in, as the stock price has trimmed by 10% from the last three months.

“Our new fair value at RM3.40 implies ex-rights fair value at RM3.10,”it said.