Latest news with #843
Barnama
26-05-2025
- Business
- Barnama
CPO Futures End Slightly Higher On Firmer Crude Oil Prices
Palm oil trader David Ng said CPO prices are recovering from previous losses, driven by better-than-expected export figures that have boosted market sentiment. KUALA LUMPUR, May 26 (Bernama) -- The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed marginally higher on Monday, supported by stronger crude oil prices. 'We see support at RM3,800 per tonne and resistance at RM3,950 per tonne,' he told Bernama. According to independent inspection company AmSpec Agri Malaysia, exports of Malaysian palm oil products for May 1-25 rose 7.3 per cent to 991,702 tonnes from 923,893 tonnes shipped during April 1-25. At the close, the spot month June 2025 contract rose by RM11 to RM3,835 per tonne, July 2025 increased by RM7 to RM3,843 per tonne, and August 2025 went up RM6 to RM3,833 per tonne.
GMA Network
22-05-2025
- GMA Network
PDEA: 8 informants received cash rewards worth P11.6M
Eight civilian informants received a total of P11,633,843 in cash rewards under the monetary incentive program Operation: Private Eye (OPE), the Philippine Drug Enforcement Agency (PDEA) said Thursday. In a statement, PDEA said four informants received P2 million each. One of the informants helped in the seizure of 49,705.20 grams of shabu worth P340 million and the arrest of two suspects during a buy-bust operation in Barangay Putatan, Muntinlupa City, on March 14. Another informant contributed to the confiscation of 39,859.60 grams of shabu worth P272 million and the arrest of a drug personality after a buy-bust operation in Binangonan, Rizal, on March 19. 'In a literal sense, vigilance pays off. Reliable information in exchange for monetary consideration,' PDEA director general Undersecretary Isagani Nerez said. 'Imagine, if more members of the community are vigilant and proactive in combating the drug trade, a vast network of eyes and ears remains at PDEA's disposal. It is definitely a huge boost for us considering our limited manpower,' he added. PDEA said the OPE reward committee, which approves the monetary rewards for the informants, is composed of the agency's key officers as well as members from the business, academe, and religious sectors. — VBL, GMA Integrated News
Business Standard
20-05-2025
- Business
- Business Standard
Satin Creditcare Posts a Healthy Profit After Tax (Pat) Of Rs217 Crore for Q4 Of FY25
VMPL Mumbai (Maharashtra) [India], May 20: Satin Creditcare Network Ltd. (SCNL), a leading NBFC-MFI committed to rural financial inclusion, has reported a strong financial performance for Q4 of FY 2025. Despite ongoing challenges in the microfinance sector, the company's resilience and strategic prudence have enabled it to maintain stability and growth. On a standalone basis, SCNL recorded an Assets Under Management (AUM) of Rs11,316 crore, reflecting a 6.8% year-on-year growth. The company continued its streak of profitability for the 15th consecutive quarter, posting a Profit After Tax (PAT) of Rs217 crore and a Pre-Provision Operating Profit (PPOP) of Rs736 crore. Return metrics remained robust, with Return on Assets (RoA) at 2.07% and Return on Equity (RoE) at 7.86%, backed by a healthy net worth of Rs2,843 crore. Despite prevailing headwinds, SCNL demonstrated significant improvement in asset quality. The company successfully lowered its PAR 1 by 192 basis points to 4.9% and maintained Gross Non-Performing Assets (GNPA) at 3.70%. Collection efficiency for the 0 days past due portfolio remained exceptional, standing at ~99.8% in March 2025, while credit costs were effectively managed at 4.6%, staying within the guided range. On a consolidated basis, SCNL reported an AUM of Rs12,784 crore and a PAT of Rs186 crore, with a Net Interest Margin (NIM) of 12.61%, underscoring its disciplined pricing and efficient capital deployment. Mr. H P Singh, CMDexpressed happiness at the company's performance, "Our FY25 results underscore the strength of our business model and our unwavering commitment to financial inclusion. Despite challenges in the sector, our prudent risk management, diversified funding base, and customer-centric approach have enabled us to navigate volatility while maintaining stability and growth. As we move forward, we remain focused on innovation, sustainability, and expanding financial access to underserved communities." SCNL made significant strides in strategic initiatives during the year, including the successful closure of a USD 100 million syndicated social loan via External Commercial Borrowing (ECB) and further diversification of its lender base. Additionally, the company received a prestigious "SQS2" Sustainability Quality Score from Moody's Ratings for its Social Financing Framework. The company's subsidiaries also posted strong growth. Satin Housing Finance Ltd. achieved a 22% YoY AUM increase to Rs920 crore, while Satin Finserv Ltd. scaled its MSME book to Rs516 crore, marking an impressive 58% jump. With a steadfast commitment to governance, technology-driven operations, and a diversified product portfolio, Satin Creditcare continues to solidify its position as one of India's most stable and future-ready financial inclusion leaders. About Satin Creditcare Network Limited: Satin Creditcare Network Limited (SCNL or Satin) is aleading microfinance institution (MFI) in the country with presence in 29 states & union territories and over 90,000 villages. The Company's mission is to be a leading micro financial institution by providing a comprehensive range of products and services for the financially under-served community. The Company aims to lead in gender empowerment by leveraging on technology and innovation that forge sustainable strategic partnerships. The Company also offers a bouquet of financial products in the Non-MFI segment, comprising of loans to MSMEs and affordable housing loans. In April 2017, SCNL incorporated a wholly-owned housing finance subsidiary Satin Housing Finance Limited (SHFL) for providing loans in the affordable and micro-housing segment. In January 2019, SCNL received separate NBFC license to commence MSME business through Satin Finserv Limited (SFL). In August 2024, SCNL incorporated a subsidiary for software services, Satin Technologies Limited (STL) dedicated to developing innovative, world-class technology solutions by leveraging cutting-edge technologies. As on 31st March 2025, Satin group had 1,568 branches and a headcount of 16,705 across 29 states and union territories, serving 33.6 lakh clients.
Arabian Business
02-05-2025
- Business
- Arabian Business
Dubai leads Middle East private jet demand, says X-1 Jets CEO
A Monaco-based private aviation company is seeing Dubai emerge as the strongest market for private jet services in the Middle East, according to its CEO. 'The most demand is from Dubai, and after I think the second market is Saudi Arabia,' said Benjamin Lehmann, CEO of X-1 Jets, in an interview with Arabian Business. 'After that are smaller markets – Qatar, Oman, and Kuwait. But still, this is a niche market, but with good customers flying on a regular basis.' the influx of high-net-worth individuals moving to Dubai in recent years. Recent reports suggest that the United Arab Emirates continues to lead globally in attracting high-net-worth individuals, with Dubai being at the forefront of this trend. According to Henley & Partners' latest report, the UAE welcomed around 6,700 new millionaires last year, marking the third consecutive year it has topped global rankings for net millionaire inflows. Dubai accounted for a significant portion of these wealthy migrants and is now home to a total of 81,000 millionaires. 'The market is growing in the Middle East, [but] it's a little bit softer in Europe,' Lehmann noted. 'But in general, the [Middle East] market is growing and it's increasing on a regular basis.' To capitalise on this growth, X-1 Jets has unveiled its JetCard programme specifically designed for Gulf travellers visiting Europe this summer. The programme allows GCC residents to purchase blocks of flight hours for seamless travel between European destinations. The Summer 2025 JetCard programme offers packages ranging from 6.25 to 25 flight hours on light jets accommodating up to 8 passengers. The service is available for use between May and September, with no blackout dates or routing restrictions within Europe. 'We are based in Monaco, serving a lot of the European market. Since a few years, we are developing the US market and Middle East market,' said Lehmann, who is currently based in Qatar after previously living in Dubai in 2014 and 2015. The company already serves clients across the Gulf region, including Dubai, Qatar, Saudi Arabia, Kuwait, and Oman, with plans for further regional expansion. How the JetCard program works The programme operates on a simple premise. Clients pre-purchase flight hours that can be used throughout Europe without additional positioning fees that typically drive up private aviation costs. A 12.5-hour package costs approximately $70,200 (AED257,843), with travellers paying only for the time they spend in the air. For example, a one-hour flight from Geneva to Ibiza would cost around $5,687-$6,824 (AED20,888-AED25,064). 'They call us and say, 'I want to do Geneva to Palma,' and they will pay always the same price – just the flight time deducted from their JetCard,' Lehmann explained. 'There is no positioning. The problem in business aviation is positioning – the aircraft is never where you want to go.' The JetCard includes door-to-door service with limousine transfers, and clients can arrive just 10 minutes before their scheduled departure time. Bringing Middle East service standards to European skies A key selling point of the programme is the company's focus on replicating the high service standards Gulf travellers are accustomed to receiving at home. 'We want Middle East customers to feel in Europe as if they were in the Middle East,' Lehmann said. 'In Europe, it's not like Middle East – people in Europe are carrying less, they are more like robots.' Lehmann elaborated that European service providers often lack the attentiveness and customer care that is standard in the Gulf region. 'We want people to feel that someone is taking care of them, that they feel comfortable, they can travel in confidence, peace of mind.' This approach includes handling all operational issues behind the scenes, such as mechanical problems or weather delays, without troubling the client. 'We just tell them, 'Your aircraft is ready, go for it,' and we take care of all the problems we can have in terms of operation.' Commercial first class vs. flying private While prices for private flights within Europe remain relatively stable under the JetCard programme, costs for flying private directly from Dubai to Europe can vary significantly depending on aircraft availability, timing, and passenger numbers. Flying private directly from Dubai to Europe can cost between $45,469-$113,671 (AED167,006-AED417,511). Lehmann noted that many Middle Eastern travellers prefer a hybrid approach to luxury travel. 'Most customers here take first class on Qatar Airways or Emirates for the long-haul flight to Europe,' Lehmann said. 'Then when they put a foot in Europe, we take care of them.' This approach offers significant time savings for short European routes. 'When you travel in Europe, from Paris to Nice or London to Geneva, that takes a lot of time with commercial flights. You have to go early to the airport, go through all the process, and you are losing a lot of time for very short flights.' For Middle Eastern travellers planning summer vacations in Mykonos, Ibiza, Monaco, or other European hotspots, the programme promises to deliver the same high service standards they've come to expect at home. 'We want to be efficient and provide the highest level of service, but at a fair price,' Lehmann concluded. 'X-1 Jets is here to become a leader in private aviation and to make the people happy at a fair price.'
