Latest news with #049
The Star
26-05-2025
- Entertainment
- The Star
HK star Steven Cheung pleads for job opportunity as family struggles financially
Hong Kong singer Steven Cheung has struggled to land performance gigs since a 2019 scandal. Photo: Steven Cheung/Instagram Despite his efforts to provide for his family, Hong Kong singer Steven Cheung remains caught in a difficult struggle for financial stability. On Sunday (May 25), Cheung, 40, made a plea on his Instagram Story, writing: 'I'm in urgent need of a job opportunity, requiring HK$6,800 (RM3,648) today. Help me.' Not long after, his wife Au Yin Man, made a post of her own on Instagram, sharing: 'Just a little effort can bring about a change in life. Sometimes, it's not enough.' The couple has four sons aged between one and five. Earlier this month, Au, 33, revealed that their monthly rent amounts to HK$15,000 (RM8,049). She said then that the family had already fallen a month and a half behind on payments and risks eviction if the outstanding amount isn't cleared by the end of the month. Cheung, who was part of the Cantopop duo Boyz, has taken on various jobs to make ends meet in recent years. Among them include cable wiring, construction work, distributing fliers and condoms, as well as making food delivery orders. The singer has struggled to land performance gigs since a 2019 scandal, when he announced his marriage to Au while still dating Hong Kong actress April Leung.
Yahoo
15-05-2025
- Business
- Yahoo
Max Financial Services Ltd (BOM:500271) Q4 2025 Earnings Call Highlights: Strong Revenue Growth ...
Consolidated Revenue (excluding investment income): INR32,620 crores, a growth of 12% in FY25. Consolidated PAT: INR403 crores. Renewal Premiums: Grew by 14% to INR21,049 crores. Gross Premiums: Grew by 13% to INR33,223 crores. Value of New Business (VNB): INR2,107 crores for FY25, with a growth of 7%. New Business Margin (NBM): 24%. Embedded Value (EV): INR25,192 crores as of March 31, 2025. Annualized Total Return on EV: 29%. Annualized Operating Return on EV (ROEV): 19.1%. Policyholder OpEx to GWP: 13.6%. Total Cost to GWP: 23.1%. Profit Before Tax (PBT): INR448 crores, a growth of 20% for FY25. Solvency Ratio: 201%, up from 172% last March. Assets Under Management (AUM): Approximately INR1.7 lakh crores, a growth of 16%. Warning! GuruFocus has detected 5 Warning Sign with BOM:500271. Release Date: May 14, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Max Financial Services Ltd (BOM:500271) reported a consolidated revenue growth of 12% in FY25, reaching INR32,620 crores. The company added 44 new partners across retail and group channels in FY25, enhancing its distribution network. Max Financial Services Ltd (BOM:500271) achieved a 35% growth in its protection business and a 31% increase in individual new business sum assured. The company launched innovative products like Star ULIP and Smart Term Plan Plus, contributing to product diversification and growth. Max Financial Services Ltd (BOM:500271) maintained a high customer satisfaction ranking, with a six-point increase in Net Promoter Scores, indicating strong customer engagement. Margins for the full year were 24%, a decrease of 250 basis points compared to the previous year, primarily due to a higher proportion of ULIPs. The growth in the bank assurance channel slowed in the fourth quarter, with Axis Bank's growth at 7%, reflecting broader industry trends. The company faces challenges from regulatory changes, particularly concerning surrender value guidelines, which impacted margins. Despite strong growth in e-commerce, the company acknowledges that the base effect may limit similar growth rates in the future. The reverse merger process is delayed, pending regulatory clarity, which could impact strategic initiatives. Q: What is driving Max Financial's impressive growth in April, and how do you see growth and margins in FY26? A: Prashant Tripathy, CEO, noted that April's growth of 24% was across all lines of business and channels. The company aims to maintain a growth rate 300-400 basis points above the private industry average, which is expected to be 13-14%. For margins, they aim for a range of 24-25%, balancing growth and profitability. Q: What is the company's stance on regulatory changes, particularly regarding bank assurance? A: Prashant Tripathy stated that there has been no formal communication about changes in bank assurance regulations. The company has not heard any official indications of upcoming changes and suggests not giving much heed to unverified sound bites. Q: Why has there been a recent success in attaching Riders, and what are the timelines for the reverse merger? A: Prashant Tripathy explained that the success in attaching Riders is due to industry evolution and execution capabilities. Regarding the reverse merger, the company is waiting for legislative clarity expected in the monsoon session, hoping to proceed by August or September. Q: Can you explain the growth expectations for the protection business and the performance of the bank assurance channel? A: Prashant Tripathy highlighted the under-penetration of protection products, with only 34% ownership in top cities, driving a 25% CAGR expectation. For bank assurance, Amrit Singh, CFO, noted a 7% growth in Q4, with Axis Bank contributing 48% to total sales. The company is optimistic about future growth in this channel. Q: How is the e-commerce channel performing, and what is its sustainability? A: Sumit Madan, Chief Distribution Officer, emphasized the channel's strong performance, driven by data integration and segment focus. The company leads in protection and is expanding in savings, though growth rates may moderate due to a larger base. Q: What is the impact of surrender value changes on margins, and how will it affect FY26? A: Amrit Singh stated that the impact of surrender value changes has been neutralized through product adjustments and is expected to have minimal effect on FY26 margins. Q: How is the company diversifying its bank assurance partnerships beyond Yes Bank? A: Sumit Madan noted successful diversification with new partnerships, achieving top counter shares in several banks, supported by strong distribution and training capabilities. Q: What is the dividend strategy, and how often does the persistency formula change? A: Prashant Tripathy confirmed that dividends are not planned until Axis Max Life is listed, as capital is needed for growth. Amrit Singh added that persistency formula changes are infrequent, with the last change in FY24. Q: Why has the ULIP case size declined, and what is the outlook for non-par savings policies? A: Amrit Singh attributed the ULIP decline to customer segment choices and channel focus. Prashant Tripathy expects an increase in non-par savings policies as the product mix evolves. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
Mint
08-05-2025
- Business
- Mint
Titan names Ajoy Chawla as next MD
New Delhi: Jewellery and watch retailer Titan Co. Ltd on Thursday announced a leadership change, naming Ajoy Chawla as its next managing director. Chawla, who currently heads Titan's jewellery division, will take over from C.K. Venkataraman, who is set to retire on 31 December 2025 upon reaching the Tata Group's superannuation age. Chawla's appointment is effective from 1 January 2026. Chawla's ascension marks a strategic shift as he takes the reins after a period of significant growth in the jewellery segment, where sales and profits have more than doubled under his leadership since October 2019. The decision also comes as Titan reported strong financials for FY25, with total income up 22% to ₹ 57,819 crore. In the March quarter, consolidated income grew 22% to Rs14,049 crore. Profit for the period grew 13% to ₹ 871 crore. A Titan veteran, Chawla joined the company in 1991 and has held key roles across the watches, accessories, and jewellery segments. Before leading the jewellery division, he served as chief strategy officer and spearheaded the launch of the fragrances business (SKINN) and the ethnic wear brand, Taneira. While the formal process for inducting Chawla onto the board and confirming his MD appointment is pending shareholder approval, the company said the decision regarding his successor in the jewellery division will be announced later. "On behalf of the entire Titan team, I welcome Ajoy to lead Titan in its next phase of innovation and growth. With his strong customer obsession, people orientation, partnering impulse and focus on creating value, Ajoy is well qualified to shepherd Titan towards even greater glory and scale," said Venkataraman. Founded in 1987 as Titan Watches Ltd, Titan is a joint venture between the Tata Group and the Tamil Nadu Industrial Development Corp. (TIDCO). Its portfolio includes jewellery (Tanishq), watches, eyewear, ethnic wear, and accessories. 'While FY25 was marked by multiple external events that had varying impacts on the businesses in general, Titan's businesses clocked yet another year of strong 22% revenue growth resulting in the company crossing the impressive milestone of ₹ 50,000 crore of revenues for the full year," Venkataraman said. "Our analogue watch business continued its strong growth trajectory by product innovation led premiumization whilst moving in sync with the rising aspirations of the Indian consumer. The eye care business has returned to the double-digit growth trajectory in Q3 and Q4 of FY25 and is poised for even better growth in FY26," he said. For the full year, the jewellery division's income rose 21% to ₹ 46,571 crore. Venkataraman added that all business segments are now focused on expanding market share in FY26.
Express Tribune
12-03-2025
- Automotive
- Express Tribune
Wagon R bookings permanently suspended by Pak Suzuki
Listen to article Pak Suzuki Motor Company has announced the permanent suspension of bookings for all variants of its Wagon R hatchback, effective March 11. This move comes after months of speculation following the suspension of bookings for the top variant of the model. In an official communication to its dealers, the company confirmed that the decision applies to all Wagon R variants and instructed sales teams to inform potential customers accordingly. The Wagon R was first introduced in Pakistan in 2014, offering three variants: the VX, priced at Rs899,000, the VXR at Rs1,049,000, and the VXL at Rs1,089,000. Over time, the base VX variant was discontinued, and the AGS variant, which featured an automated gear shift transmission and an airbag, was launched in 2020 at a price of Rs1,890,000. Prices for the Wagon R increased significantly over the years. The most recent pricing saw the VXR variant priced at Rs3,214,000, the VXL at Rs3,412,000, and the AGS model at Rs3,741,000. However, sales of the Wagon R have shown a notable decline. Between July 2024 and February 2025, Pak Suzuki sold just 1,608 units of the Wagon R, compared to 2,285 units during the same period the previous year. In comparison, Suzuki's other models showed stronger performance, with Suzuki Swift recording 5,295 units sold, Suzuki Cultus 1,887 units, and Suzuki Alto 28,194 units during the same period.
