Hong Leong Capital posts RM40.8mil net profit amid market volatility
KUALA LUMPUR: Hong Leong Capital Bhd reported a net profit of RM40.8 million for the first nine months of financial year 2025 (9M FY25) due to lower equity investment returns.
The net profit for the quarter ended March 31, 2025 declined 33 per cent from RM61.2 million a year ago.
In a filing with Bursa Malaysia, Hong Leong Capital said the investment banking and stockbroking segment recorded lower pre-tax profit of RM12 million, down 11 per cent from RM13.9 million last year.
This is due to lower profit contribution from stockbroking division.
The investment holding and others segment slipped into the red to RM1.96 million from a pre-tax profit of RM11 million, dragged by revaluation loss of financial assets at FVTPL
Conversely, fund management and unit trust management segment posted higher pre-tax profit of RM4.9 million, higher than RM1.98 million last year due to lower overhead expenses.
Hong Leong Capital chairman Tan Kong Khoon said the performance was affected by market volatility stemming from heightened geopolitical tensions and evolving global trade dynamics.
He said the external headwinds had a direct impact on the stock market, as seen in the 5.0 per cent decline of the FBM KLCI since the start of the financial year in July 2024 that adversely affected its equity investment returns.
"Hong Leong Capital will remain focused on executing our strategic priorities and delivering long-term value creation for all our stakeholders.
"A key initiative in this direction will be bolstering the sales outreach of Hong Leong Capital suite of products by leveraging on the integrated distribution network of the financial group.
"This includes the upcoming foreign-denominated funds from our asset management division," he added.
Tan said the company is enhancing the stockbroking application to create a more integrated experience for users to improve customer experience and serve as a key feature in client acquisition.
These initiatives, he said, will continue to be underpinned by strict capital liquidity, and cost discipline.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
13 hours ago
- The Star
Sparkling potential in gemmology
As industries evolve and the demand for ethically-conscious, scientifically-skilled professionals increase, gemmology is fast gaining traction, said Gemological Institute Malaysia sales and marketing manager Tan Zhi Peng. He said for students with a passion for precious gems and a curiosity for how the natural world intersects with design and business, Malaysia's gem and jewellery industry presents growing and meaningful opportunities. 'Gemmology is the scientific study of gemstones, encompassing their formation, properties, identification and classification. 'In an era where authenticity and ethical sourcing are important, gemmology ensures the integrity of the jewellery industry,' Tan explained, adding that it enables professionals to verify the origin, quality and authenticity of gemstones, thereby building consumer trust and upholding industry standards. Professionals entering the field, he stressed, must be well-versed in international certification standards, such as those from the Gemological Institute of America (GIA), or hold a diploma in gemmology. Awareness of global ethical sourcing practices is also essential. 'There is a growing consumer demand for transparency and ethical sourcing. 'Consumers are increasingly seeking certified gemstones that are conflict-free and sourced responsibly, with considerations for environmental sustainability and fair labour practices. 'Understanding the properties and value of gemstones enables professionals to make informed decisions in design aesthetics, pricing strategies, and marketing,' he said. He also pointed out that Malaysia's gem and jewellery industry saw jewellery exports reach RM7.7bil in 2023 – up from RM7.39bil in 2022. According to projections, he said the Malaysian jewellery market, valued at approximately US$10.11bil (RM47.58bil) in 2022, is expected to grow to US$12.45bil (RM58.52bil) by 2029, reflecting a compound annual growth rate of 3.0%. 'Export-wise, Malaysia has established itself as a significant player, particularly in the gold jewellery segment, with key export destinations including Singapore, the United Arab Emirates and Hong Kong. 'The industry's growth and the increasing emphasis on ethical practices have expanded the demand for skilled professionals in these areas,' he added. He highlighted Tomei Consolidated Berhad as an example of a prominent Malaysian company offering a variety of career opportunities for gemmology graduates. 'Gemmology graduates have diverse career opportunities, including roles such as gemstone appraisers, jewellery designers, quality control specialists, auction house consultants and retail managers. 'At our institution, gemmology education provides a solid foundation in the scientific aspects of gemstones, which is invaluable for careers in jewellery design, appraisal, and merchandising,' he said, adding that specialised roles like gemstone appraisal and auction house consultancy are also becoming increasingly sought-after. 'These professionals play a critical role in the market for high-value and investment-grade jewellery. 'Their expertise ensures accurate valuation for insurance, resale and investment, making them indispensable in a growing industry,' he said.
Daily Express
a day ago
- Daily Express
Petronas layoffs driven by global challenges, not Petros issue: Fadillah
Published on: Saturday, June 07, 2025 Published on: Sat, Jun 07, 2025 By: Bernama Text Size: For illustrative purposes only. KUCHING: Petroliam Nasional Bhd's (Petronas) move to trim its workforce stems from global challenges and is not connected to the national oil firm's issues with Petroleum Sarawak Bhd (Petros). Deputy Prime Minister Datuk Seri Fadillah Yusof said the restructuring process is necessary amid the decline in crude oil prices. Advertisement He also plans to meet with Petronas to get more details on the restructuring process. 'That is why Petronas has to relook its entire operation. I'm planning a meeting with them to get a briefing on the matter and to ensure that the number of layoffs can be reduced, if not avoided,' he told reporters attending the Aidiladha sacrificial event at Taman Hussein Mosque here today. On June 5, Petronas president and chief executive officer Tan Sri Tengku Muhammad Taufik Tengku Aziz reportedly said the national oil firm is cutting 10 per cent of its workforce to cope with challenging operating conditions, particularly due to falling crude prices. Tengku Muhammad Taufik said the number of staff involved in the downsizing process currently stands at around 5,000, and those affected will be notified in stages next year. Advertisement On May 21, the federal and state governments reached an understanding on matters involving Petronas and Petros. According to the joint declaration, Petronas will continue its functions, activities, responsibilities and obligations entrusted to the company in Malaysia, under the Petroleum Development Act 1974 (PDA 1974) and its regulations. Any agreements and arrangements between Petronas and its subsidiaries with third parties for the purpose of liquefied natural gas (LNG) sales from upstream operations through to LNG exports to foreign parties remain unaffected. A media statement by the Prime Minister's Office following the joint declaration said all relevant federal and state laws relating to gas distribution in Sarawak are to co-exist and be respected by all parties. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
New Straits Times
a day ago
- New Straits Times
Petronas layoffs driven by global challenges, not Petros issue
KUCHING: Petroliam Nasional Bhd's (Petronas) move to trim its workforce stems from global challenges and is not connected to the national oil firm's issues with Petroleum Sarawak Bhd (Petros). Deputy Prime Minister Datuk Seri Fadillah Yusof said the restructuring process is necessary amid the decline in crude oil prices. He also plans to meet with Petronas to get more details on the restructuring process. "That is why Petronas has to relook its entire operation. I'm planning a meeting with them to get a briefing on the matter and to ensure that the number of layoffs can be reduced, if not avoided," he told reporters attending the Aidiladha sacrificial event at Taman Hussein Mosque here today. On June 5, Petronas president and chief executive officer Tan Sri Tengku Muhammad Taufik Tengku Aziz said the national oil firm is cutting 10 per cent of its workforce to cope with challenging operating conditions, particularly due to falling crude prices. Tengku Muhammad Taufik said the number of staff involved in the downsizing process currently stands at around 5,000, and those affected will be notified in stages next year. On May 21, the federal and state governments reached an understanding on matters involving Petronas and Petros. According to the joint declaration, Petronas will continue its functions, activities, responsibilities and obligations entrusted to the company in Malaysia, under the Petroleum Development Act 1974 (PDA 1974) and its regulations. Any agreements and arrangements between Petronas and its subsidiaries with third parties for the purpose of liquefied natural gas (LNG) sales from upstream operations through to LNG exports to foreign parties remain unaffected. A media statement by the Prime Minister's Office following the joint declaration said all relevant federal and state laws relating to gas distribution in Sarawak are to co-exist and be respected by all parties.
