Latest news with #119
Business Standard
a day ago
- Business
- Business Standard
Axis Max Life Declares Rs2,135 Cr. Participating Bonus for FY25; Reaffirms Commitment to Long-Term Value Creation
VMPL New Delhi [India], June 9: Axis Max Life Insurance Ltd. formerly known as Max Life Insurance Company Ltd ("Axis Max Life"/ "Company"), has announced a Participating (PAR) bonus of Rs2,135 Crore for eligible policyholders for FY24-25. This marks the Company's 23rd consecutive annual bonus and takes the cumulative bonus declared over the past 23 years to Rs15,847 Crore*. The declared bonus will enhance the corpus of more than 21 lakh eligible PAR policyholders, beginning July 2025. Axis Max Life continues to drive long-term value through a disciplined investment strategy and prudent fund management--reflected in the PAR Fund** growing from Rs67,722 Cr. in FY24 to Rs74,119 Cr. in FY25, a CAGR of ~19% over the past decade. Prashant Tripathy, CEO and Managing Director, Axis Max Life, said, "This year's bonus declaration reflects our steady commitment to delivering sustained value for policyholders through prudent and disciplined fund management. In a volatile macro environment, our PAR Fund has continued to demonstrate resilience driven by strong asset quality and consistent performance. With enhanced bonus options and built-in liquidity, we're enabling customers to navigate their evolving financial priorities with confidence and flexibility." Axis Max Life operates one of the largest PAR Fund among Indian private life insurers and remains one of the few companies offering customers the flexibility to choose from multiple bonus options--Cash Bonus, Accumulated Bonus, Paid-Up Additions (PUA), and Premium Offset--along with liquidity through partial withdrawals of bonuses without affecting the Basic Sum Assured. The Axis Max Life PAR Fund has delivered consistent debt returns in the 7.4%-8.4% range over the last five years, backed by the steady performance of its debt assets. Axis Max Life continues to strengthen its PAR product portfolio through innovative offerings like the Smart Wealth Income Plan, Smart Wealth Advantage Growth Par Plan, Whole Life Super, Monthly Income Advantage Plan, and Savings Advantage Plan combining liquidity, protection, and retirement benefits--expanding its reach across customer segments seeking both growth and stability. About Axis Max Life Insurance Limited ( Axis Max Life Insurance Limited, formerly known as Max Life Insurance Company Ltd., is a Joint Venture between Max Financial Services Limited ("MFSL") and Axis Bank Limited. Axis Max Life Insurance offers comprehensive protection and long-term savings life insurance solutions through its multi-channel distribution, including agency and third-party distribution partners. It has built its operations over two decades through a need-based sales process, a customer-centric approach to engagement and service delivery and trained human capital. As per annual audited financials for FY2024-25, Axis Max Life has achieved a gross written premium of INR 33,223 Cr.
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New Straits Times
6 days ago
- Business
- New Straits Times
MARKET PULSE AM JUNE 5, 2025 [WATCH]
KUALA LUMPUR: News on the latest moves on the stock and crypto markets. Bursa Malaysia's 30-stock index opened higher despite weaker-than-expected economic data revealing the impact of President Donald Trump's trade policies. Given the mixed performance on Wall Street, the local bourse is expected to trade on a choppy note. Nonetheless, bargain-hunting activities are projected to prevail, with the index expected to trend within the 1,505 to 1,515 range today. In the cryptocurrency market, Bitcoin saw a downfall, trading at RM447,019. Ethereum also followed the negative trend, falling to RM11,119, while Solana traded at RM654. That's it for Market Pulse. kulNOHZDXXA
Daily Express
28-04-2025
- Daily Express
Perak cops bust illegal lottery ring in Ipoh, seize RM110,000 in cash and arrest four suspects
Published on: Monday, April 28, 2025 Published on: Mon, Apr 28, 2025 By: Bernama Text Size: Perak police chief Datuk Noor Hisam Nordin said a team from the Anti-Vice, Gambling, and Secret Societies Division (D7) of the state police headquarters' (IPK) Criminal Investigation Department (CID) apprehended all the suspects, aged between 40 and 70, who are believed to be members of a syndicate. — Bernama pic IPOH: Police arrested four individuals, including a woman, in three separate raids around Ipoh yesterday on suspicion of involvement in unlicensed public lottery activities. Perak police chief Datuk Noor Hisam Nordin said a team from the Anti-Vice, Gambling, and Secret Societies Division (D7) of the state police headquarters' (IPK) Criminal Investigation Department (CID) apprehended all the suspects, aged between 40 and 70, who are believed to be members of a syndicate. 'Police also seized various items, including computers, mobile phones, 10 lottery slips, and cash totalling RM110,119,' he said in a press conference at the Perak IPK here today. Noor Hisam said the syndicate is believed to have been active since 2020 around Ipoh district. Investigations found that all the suspects were masterminded by gambling agents who were directly involved with the organisers. 'The modus operandi of the agents in this syndicate is to carry out unlicensed public lottery sales activities via mobile platforms to avoid detection by the authorities. These agents also use their homes to count the proceeds of these unlicensed public lotteries,' he said, adding that the case was being investigated under Section 4(a)(a) of the Common Gaming Houses Act 1953. Meanwhile, he said that police also arrested 119 individuals in 87 raids carried out during Op Mega Cantas Khas in the state last week for violent crimes, property crimes, and other offences. Perak police chief Datuk Noor Hisam Nordin said a team from the Anti-Vice, Gambling, and Secret Societies Division (D7) of the state police headquarters' (IPK) Criminal Investigation Department (CID) apprehended all the suspects, aged between 40 and 70, who are believed to be members of a syndicate. 'Police also seized various items, including computers, mobile phones, 10 lottery slips, and cash totalling RM110,119,' he said in a press conference at the Perak IPK here today. Noor Hisam said the syndicate is believed to have been active since 2020 around Ipoh district. Investigations found that all the suspects were masterminded by gambling agents who were directly involved with the organisers. 'The modus operandi of the agents in this syndicate is to carry out unlicensed public lottery sales activities via mobile platforms to avoid detection by the authorities. These agents also use their homes to count the proceeds of these unlicensed public lotteries,' he said, adding that the case was being investigated under Section 4(a)(a) of the Common Gaming Houses Act 1953. Meanwhile, he said that police also arrested 119 individuals in 87 raids carried out during Op Mega Cantas Khas in the state last week for violent crimes, property crimes, and other offences. * Follow us on Instagram and join our Telegram and/or WhatsApp channel(s) for the latest news you don't want to miss. * 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
28-04-2025
- New Straits Times
Perak police dismantle 'Mushroom' lottery syndicate, arrest 4
IPOH: A syndicate involved in the illegal sale of public lottery tickets in the city has been dismantled following the arrest of four individuals — including a woman — in three separate raids yesterday. Perak police chief Datuk Noor Hisam Nordin said those arrested during the raids on three houses, which served as "counting centres" for the proceeds of the illegal lottery, were aged between 50 and 70. He said that investigations showed all three premises were managed by gambling agents directly linked to the syndicate, known as the "Mushroom" syndicate, believed to have been active since 2020. "It is believed the agents used these houses as counting centres for the lottery proceeds, with collections from the three locations estimated to total RM5 million monthly," he said at a press conference at the Perak police headquarters today. Noor Hisam said that each agent was allocated a monthly credit limit — or betting pool — of RM4 million by the syndicate to manage bets for that month. "If there was a winner, the syndicate would pay out from the RM4 million pool. If there were no winners, the amount would roll over to the following month. "Police have also identified several sub-agents, agents, and syndicate organisers still operating in Ipoh. We will continue to take firm action to completely dismantle this network," he said. The raids, carried out simultaneously by officers from the D7 Division of the Perak Criminal Investigation Department (CID) and the CID units from district police headquarters, followed public tip-offs and intelligence gathering. Several items were seized during the raids, including two desktop computers, five mobile phones, four credit cards, four debit cards, four notebooks, 10 slips of illegal lottery tickets, and RM110,119 in cash. "We are still tracking additional areas targeted by the syndicate, as we believe they have extended their operations to other residential zones. "We suspect a 'big boss' or financier is orchestrating these activities, supported by mobile sub-agents. "Unlike the past, when records were written by hand, operations are now conducted via applications, making it more challenging for us to secure evidence," he added. The case is being investigated under Section 4A(a) of the Common Gaming Houses Act 1953, which carries a maximum fine of RM200,000 or up to five years' imprisonment upon conviction. In a separate matter, Noor Hisam said Perak CID had arrested 119 individuals in 87 raids under Op Mega Cantas Khas between 21 and 26 April 2025. The special operation, involving the D4, D7, D9 divisions, and district-level CID teams, targeted a range of criminal activities including 13 cases of violent crime, 24 cases of property crime, and 50 non-index offences. "In total, we screened and documented 1,180 individuals — including men and women, both locals and foreigners," he said.
Malay Mail
28-04-2025
- Malay Mail
Perak cops bust illegal lottery ring in Ipoh, seize RM110,000 in cash and arrest four suspects
IPOH, April 28 — Police arrested four individuals, including a woman, in three separate raids around Ipoh yesterday on suspicion of involvement in unlicensed public lottery activities. POLICE-GAMBLING/ BM (WITH PIX) Four including woman held for unlicensed lottery activities IPOH, April 28 — Police arrested four individuals, including a woman, in three separate raids around Ipoh yesterday on suspicion of involvement in unlicensed public lottery activities. Perak police chief Datuk Noor Hisam Nordin said a team from the Anti-Vice, Gambling, and Secret Societies Division (D7) of the state police headquarters' (IPK) Criminal Investigation Department (CID) apprehended all the suspects, aged between 40 and 70, who are believed to be members of a syndicate. 'Police also seized various items, including computers, mobile phones, 10 lottery slips, and cash totalling RM110,119,' he said in a press conference at the Perak IPK here today. Noor Hisam said the syndicate is believed to have been active since 2020 around Ipoh district. Investigations found that all the suspects were masterminded by gambling agents who were directly involved with the organisers. 'The modus operandi of the agents in this syndicate is to carry out unlicensed public lottery sales activities via mobile platforms to avoid detection by the authorities. These agents also use their homes to count the proceeds of these unlicensed public lotteries,' he said, adding that the case was being investigated under Section 4(a)(a) of the Common Gaming Houses Act 1953. Meanwhile, he said that police also arrested 119 individuals in 87 raids carried out during Op Mega Cantas Khas in the state last week for violent crimes, property crimes, and other offences. — Bernama Perak police chief Datuk Noor Hisam Nordin said a team from the Anti-Vice, Gambling, and Secret Societies Division (D7) of the state police headquarters' (IPK) Criminal Investigation Department (CID) apprehended all the suspects, aged between 40 and 70, who are believed to be members of a syndicate. 'Police also seized various items, including computers, mobile phones, 10 lottery slips, and cash totalling RM110,119,' he said in a press conference at the Perak IPK here today. Noor Hisam said the syndicate is believed to have been active since 2020 around Ipoh district. Investigations found that all the suspects were masterminded by gambling agents who were directly involved with the organisers. 'The modus operandi of the agents in this syndicate is to carry out unlicensed public lottery sales activities via mobile platforms to avoid detection by the authorities. These agents also use their homes to count the proceeds of these unlicensed public lotteries,' he said, adding that the case was being investigated under Section 4(a)(a) of the Common Gaming Houses Act 1953. Meanwhile, he said that police also arrested 119 individuals in 87 raids carried out during Op Mega Cantas Khas in the state last week for violent crimes, property crimes, and other offences. — Bernama
