Latest news with #AmBankGroup
The Star
28-05-2025
- Business
- The Star
AmBank approves RM70mil financing for Sunview
AmBank Group SVP, commercial banking 1, business banking Edmund Tay (seated, left) and Sunview group executive director and group chief operating officer Chow Kian Hung (seated, right) together with (from left) AmBank Group head of commercial banking 1, business banking Yeow Swee Yun, AmBank Group managing director of business banking Christopher Yap and Sunview group executive director and group chief executive officer HP Ong. PETALING JAYA: AmBank Group, through AmBank Islamic Bhd, has approved banking facilities amounting to RM70mil for Fabulous Sunview Sdn Bhd (FSSB), a wholly owned subsidiary of Sunview Group Bhd . In a statement, the bank said the financing would partly fund the construction of a 29.99MWac ground-mounted photovoltaic solar power plant in Sungai Petani, Kuala Muda, Kedah. The project was awarded by Dayasinar Energy Sdn Bhd under the Corporate Green Power Programme. The project with a contract amounting to RM98.29mil will be executed by FSSB where it includes design, procurement, erection, connection, commissioning and testing as well as supply of equipment for the construction of a ground mounted photovoltaic solar generation facility. 'We are pleased to support FSSB and Sunview Group in this initiative. Looking ahead, we remain committed to strengthening our contribution to Malaysia's renewable energy ecosystem,' AmBank Group managing director, business banking Christopher Yap said.
The Star
28-05-2025
- Business
- The Star
Ambank approves RM70mil financing for Sunview's 29.99MW solar project
AmBank Group SVP, commercial banking 1, business banking Edmund Tay (seated, left) and Sunview group executive director and group chief operating officer Chow Kian Hung (seated, right) together with (from left) AmBank Group head of commercial banking 1, business banking Yeow Swee Yun, AmBank Group managing director of business banking Christopher Yap and Sunview group executive director and group chief executive officer HP Ong. KUALA LUMPUR: AmBank Group, through AmBank Islamic Bhd, has approved banking facilities amounting to RM70mil for Fabulous Sunview Sdn Bhd (FSSB), a wholly owned subsidiary of Sunview Group Bhd . In a statement, the bank said the financing would partly fund the construction of a 29.99MWac ground-mounted photovoltaic solar power plant in Sungai Petani, Kuala Muda, Kedah. The project was awarded by Dayasinar Energy Sdn Bhd under the Corporate Green Power Programme (CGPP). The project with a contract amounting to RM98.29mil will be executed by FSSB where it includes design, procurement, erection, connection, commissioning and testing as well as supply of equipment for the construction of a ground mounted photovoltaic (PV) solar generation facility. "We are pleased to support FSSB and Sunview Group in this initiative. Looking ahead, we remain committed to strengthening our contribution to Malaysia's renewable energy ecosystem by exploring potential financing opportunities in upcoming government programmes,' AmBank Group managing director, business banking Christopher Yap said. Meanwhile, Sunview group executive director and group chief executive officer HP Ong said: 'The financing facilities provided play an important role in supporting the rollout of our solar project under the CGPP scheme. With this support, we are able to continue contributing to Malaysia's energy transition and contribute to a greener and more sustainable future.'
New Straits Times
26-05-2025
- Business
- New Straits Times
AmBank posts 7.1pct higher net profit to RM2.0bil for FY25, paying 30.2 sen dividend
KUALA LUMPUR: AMMB Holdings Bhd (AmBank Group) closed its financial year ended March 31 2025 (FY25) with a 7.1 per cent net profit growth year-on-year to RM2.0 billion from RM1.87 billion previously. This was on the back of a higher net income of RM4.93 billion from RM4.65 billion in FY24, said AmBank Group in a statement today. The group posted a net profit of RM513.93 million in the final quarter, up from RM476.54 million a year ago. Its revenue during the fourth quarter (Q4) rose to RM1.28 billion from RM1.17 billion in Q4FY24, while earnings per share climbed to 15.55 sen from 14.41 sen previously. AmBank Group chief executive officer Jamie Ling said: "We are pleased to report a strong close to the first year of our WT29 strategy. "With our capital position solid, we increased our total cash dividend to RM1.0 billion. This reflects our confidence as we continue to build our businesses from a position of strength," he added. The group proposed a final dividend of 19.9 sen per share for the fourth quarter (Q4) of FY25. Together with the interim dividend of 10.3 sen per share declared in Q2, total dividends for FY25 amounted to 30.2 sen per share, up 34 per cent YoY with a dividend payout ratio of 50 per cent AmBank's net interest income grew 8.0 per cent YoY to RM3.57 billion, with a 15-basis point expansion in net interest margin to 1.94 per cent. Its non-interest income grew 1.3 per cent YoY to RM1.36 billion with continuing operations income up 5.3 per cent YoY. AmBank said a broad-based growth in fee income was achieved across business banking, retail wealth management, funds, stockbroking, private banking and equity capital markets and from insurance. This was partially offset by lower trading gains from group treasury and markets. The group's total gross loans, advances and financing grew 3.5 per cent YoY to RM138.9 billion (FY24: RM134.1 billion) mainly driven by business banking (up RM5.4 billion or 12.4 per cent YoY) and wholesale banking (up RM1.3 billion or 6.8 per cent YoY). This was partially offset by lower loans growth in retail banking (down RM1.4 billion or 2.1 per cent YoY). Its total customer deposits fell 0.6 per cent YoY to RM141.5 billion, while total expenses increased 7.1 per cent YoY to RM2.2 billion, with cost-to-income ratio of 44.6 per cent. The group's net impairment charges dropped to RM143.9 million (FY24: RM769.7 million), on the back of improved expected credit loss calculations for loans classified as Stage 3 (or ECL S3) flow rates and writeback of forward-looking provision. In the corresponding period in FY24, forward looking charges as well as a one-off credit impairment overlay and intangible assets impairment charges were recorded. That year, the group recorded a one-off charge of RM520.2 million (RM402.5 million, net of corporate tax) comprising additional credit impairment overlay of RM328.2 million, impairment of intangible assets of RM111.9 million and RM80.0 million for restructuring expenses. On its prospects, Ling said the geopolitical tensions have heightened following the US reciprocal tariffs. This has caused significant volatilities in the financial markets globally. While trade negotiations are ongoing between the US and other nations, it remains uncertain how quickly these negotiations can be concluded, he added. "Coupled with new conflicts emerging in South Asia, these combined uncertainties will inevitably impact business and consumer confidence, translating into potentially slower economic growth. "Against this economic backdrop, the group will continue to proactively manage our risk profiles and capitalise on the opportunities we see," Ling said.
The Star
12-05-2025
- Business
- The Star
LAT'S ART LIGHTS UP LEGACY
(From left) AmBank Group chief executive officer Jamie Ling, chairman Tan Sri Md Nor Yusof, Lat and Azman sharing a light moment in front of the newly refreshed Bangunan AmBank Group facade. IN conjunction with its 50th Anniversary celebration, AmBank Group has revealed a refreshed building facade at its corporate headquarters, Bangunan AmBank Group, now displaying a vibrant LED illustration of the bank's mascot – the camel. It now features Datuk Lat's (whose full name is Mohammad Nor Khalid) largest illustration. This striking visual tribute marks the continuation of a historical collaboration between AmBank and Lat, whose whimsical camel illustrations have been synonymous with the bank's identity over the decades. AmBank Group chairman emeritus and honorary adviser Tan Sri Azman Hashim said, 'Seeing Lat's revamped camel light up on the glass facade of our headquarters brings back so many cherished memories. 'The building has borne witness to the bank's growth over the years, defined by its perseverance, innovation and dedication to excellence. 'As we celebrate our golden jubilee, I'm filled with gratitude for the bank's incredible transformation into one of Malaysia's leading financial institutions.' The newly refreshed facade of Bangunan AmBank Group now features a vibrant LED display of the bank's camel mascot. The newly refreshed facade of Bangunan AmBank Group now features a vibrant LED display of the bank's camel mascot. The newly refreshed facade of Bangunan AmBank Group now features a vibrant LED display of the bank's camel mascot. Bangunan AmBank Group is located at Jalan Raja Chulan and stands tall at 26 storeys high. The trapezoidal-shaped tower was officially launched by former prime minister Tun Dr Mahathir Mohamad in 1987. With an elegance of its own, the tower sits at the bustling junction connecting Jalan Raja Chulan and Jalan P. Ramlee, affording an uninterrupted vista of its glass facade. Historically, Lat was commissioned to produce illustrations for AmBank's product advertisements from 1984 to 1991. The artworks pay homage to the various personalities of the group and events occurring during the time the bank was known as Arab-Malaysian in a light-hearted manner. Retold with AmBank's 50th Anniversary theme 'Malaysia Kita' in mind, brand new collaborative illustrations have been produced, encapsulating the values of unity, togetherness and diversity. These will be published in the coming weeks for Malaysians to enjoy and cherish. Stay tuned as AmBank continues its 50th Anniversary festivities, bringing initiatives that embrace the true spirit of 'Malaysia Kita'.
Daily Express
03-05-2025
- Business
- Daily Express
RM408.2 million for Sabah BESS project
Published on: Saturday, May 03, 2025 Published on: Sat, May 03, 2025 By: Bernama Text Size: The BESS project, valued at RM644.6 million, was awarded by Sabah Electricity Sdn Bhd (SESB) in September 2024 and is located in Lahad Datu, Sabah. Kuala Lumpur: AmBank Group has approved a financing facility totalling RM408.2 million to MSR Green Energy Sdn Bhd (MSRGE) to partially fund its working capital requirements for a landmark 100 megawatt (MW)/400 megawatt-hour (MWh) battery energy storage system (BESS) project. In a joint statement, both parties said the BESS project, valued at RM644.6 million, was awarded by Sabah Electricity Sdn Bhd (SESB) in September 2024 and is located in Lahad Datu, Sabah. 'Upon completion, the facility will be one of the largest battery storage systems in Southeast Asia and the first energy storage facility in Sabah, with a final installed capacity of 517 MWh. 'It is designed to enhance grid stability, increase reserve margins during peak demand periods, and enable the further expansion of power plants in the region,' they said. AmBank Group managing director of business banking Christopher Yap said the financing marks a significant step in supporting Malaysia's transition towards a more resilient and sustainable energy landscape. 'By supporting this advanced energy storage infrastructure, we reaffirm our commitment to sustainable financing and the development of renewable energy,' he added. Meanwhile, MSRGE director Ong Kah Hui said that with AmBank's invaluable financing support, the large-scale battery energy storage project represents a pivotal step towards realising a shared vision of a greener future. 'This initiative not only addresses Sabah's power supply and grid stability needs, but also lays a robust foundation for the integration of future renewable energy plants into the region's infrastructure,' he said. * 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
