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Daily Express
3 days ago
- Business
- Daily Express
RAM affirms Sabah Development Bank Berhad's AA1 Rating
Published on: Wednesday, June 04, 2025 Published on: Wed, Jun 04, 2025 Text Size: RAM is the leading and largest credit rating agency in Southeast Asia, and publishes credit ratings to give independent, forward-looking opinion about an issuer's ability to repay its financial obligations. - Bernama pic Kota Kinabalu: RAM Rating Services Berhad (RAM) has on 4 June 2025 affirmed AA1/Stable/P1 ratings of Sabah Development Bank Berhad (SDB)'s debt instruments. The AA1 rating indicates high safety for payment of financial obligations by SDB and the 'Stable' outlook reflects RAM's expectations that the long-term rating will be unchanged over the intermediate term. SDB's Commercial Papers are also affirmed at P1, the highest short-term rating assigned by RAM which reflects high safety for payment of short-term financial obligations. RAM is the leading and largest credit rating agency in Southeast Asia, and publishes credit ratings to give independent, forward-looking opinion about an issuer's ability to repay its financial obligations. In RAM's report, it stated that 'The affirmation of SDB's ratings reflects our expectations of continued financial support from the Sabah state government (the State). Given the State's strong track record of support and SDB's strategic role in advancing Sabah's development objectives, we assessed the Bank to have an 'almost certain' likelihood of receiving state support, in accordance with our Rating Approach for Government-Linked Entities ('GLE') (October 2024).' In RAM's assessment, which evaluates both the importance of the GLE and the strength of its relationship with the Government, 'almost certain' represents the highest category of potential outcomes. SDB has made significant strides in its 3-Year Transformation Journey, which it embarked on in the second half of 2023 under a new Board and Management. The Bank's aggressive restructuring efforts, backed by strong support from the State Government, have resulted in a substantial reduction of its bond repayment obligations from RM5 billion in July 2023 to RM3 billion as of today. As a result of the kitchen-sinking exercise initiated in the second half of 2023, the Bank's total capital ratio fell to 7.9% by year-end. However, with strong support from the State Government, it has since improved, reaching 19.6% by the end of 2024. Since the setup of an independent professional recovery team in September 2023, notable progress has been made in addressing the Non-Performing Loans (NPLs). From January 2024 to April 2025, the Bank's Board approved RM965 million in settlement proposals, in addition to the RM2 billion in pledged securities placed under receivership. In line with the mandate from State Government, SDB is now focused on financing development projects in Sabah predominantly in the infrastructure, power and water sectors. The State has positioned SDB as the lead lender for local content in major investments in Sabah, reinforcing the Bank's strategic role in State's economic development. Between January 2024 and April 2025, SDB approved RM1.708 billion loan applications aligned with its developmental mandate. During the same period, the Bank dropped RM9.389 billion in loan applications that either fell outside its mandate or did not meet its enhanced credit standards. * 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
CNET
14-05-2025
- Business
- CNET
Today Only: Save Up to $115 Off Our Favorite Smart Lock With Keyless Entry and More
The smart home is no longer a thing of the future, and many of us are living in one right now. From bulbs to plugs, there are now more things connected to our phones and the internet than ever before. These days, you can even ditch the humble key in favor of something much more modern. We consider the Yale Assure Lock 2 to be the best smart lock available right now, so the chance to save up to $115 off yours shouldn't be ignored. There are multiple options on offer, but you'll need to choose quickly. This Best Buy deal ends tonight, so time is running out. Prices start at $205, which also happens to be the deal with the biggest discount, too. Looking for something different? Best Buy is also offering a discount on the Approach apartment lock, slashing the price to just $190. The Yale Assure Lock 2 is black with a simple, straightforward design that should complement most door colors and styles. It's app-compatible, allowing you to unlock your door with just a few taps on your phone. In other instances, you can provide visitors with a numeric code that can be used on the lock's touchscreen. You can also configure the lock to let you in with a quick fingerprint scan. It has Wi-Fi and Bluetooth connectivity, allowing you to connect via Bluetooth as a default in case there's a Wi-Fi interruption. When using Wi-Fi or Bluetooth, you can get real-time alerts about any activity. As a fail-safe, there's also old-fashioned physical key entry. Hey, did you know? CNET Deals texts are free, easy and save you money. Keep in mind that the Assure Lock 2 requires you to use batteries that aren't rechargeable. Yale suggests keeping extras on hand. Created to be hassle-free, the Assure 2 has auto-lock, so you won't have to worry about dealing with your phone every time you leave the premises. Why this deal matters The Yale Assure Lock 2 is our top pick, thanks to its sleek design and versatility, integrating with all of the major smart home platforms and offering multiple ways to unlock your front door. At this price it's hard to ignore.
Time of India
09-05-2025
- Business
- Time of India
Tezu airport gets upgraded ATC system
Itanagar: The Airdrome Control Unit (ACU) and Approach (APP) Combined Unit at Tezu airport in Lohit district was inaugurated by deputy commissioner KN Damo on move is a leap for aviation infrastructure in the state and marks a milestone in enhancing air traffic safety and operational capability. According to a District Information and Public Relations Office report, officials from the Airport Authority of India made presentations highlighting the significance of the new units. They said with the installation of the unit, Tezu airport's Air Traffic Control (ATC) system has been upgraded. It is now at par with larger airports in the country, enhancing its capacity to manage flights safely and efficiently.
BBC News
11-03-2025
- Health
- BBC News
Gravesham people living with MS prepare for charity skydive
Three people from Kent who are living with multiple sclerosis (MS) are planning a sponsored skydive to raise funds for research into the Ann Laver, Paul Cherrison and Kate Whoriskey, from Gravesham, will each jump out of a plane attached to an instructor, from Headcorn Aerodrome, on 1 June, to raise funds for the MS friends met at a water aerobics class in Gravesend, which they said helped them to manage their Laver said: "We've all been going to this class for so long that we had to take the leap together!" MS is a condition that affects the brain and spinal cord. It cannot currently be cured, but treatment can often help manage Laver, from Ebbsfleet, said her health deteriorated after she lost the sight in her right eye whilst pregnant. Falls at work, continued loss of balance and intense fatigue followed before she was diagnosed 15 years moved to California to research her condition and wrote a book called "MS You Don't Own Me: One Woman's Approach to Overcoming Multiple Sclerosis Naturally".Now back in Kent, she said she attended 40 gym classes every month and had cut saturated fats from her diet."It's best to stay active, and not eating meat and dairy means I feel a lot better as it keeps the inflammation down in my body," she added. Kate Whoriskey, from Gravesend, developed symptoms after a major car crash on the M25, after which followed a year or so of "deep" said: "It's such a loss of all the people around you and the activities, but I had to find a way of living the way I do now. "Coming here to the leisure centre and being in this lovely group of friends is a huge part of my life." Paul Cherrison, also from Gravesend, described a gradual had been travelling the world, working on tug boats."I was still playing hockey, still playing cricket," he said, but he then found it "really difficult" to do activities like going on holiday with his family. "I found I couldn't walk," he believes gym and hydrotherapy sessions have helped to slow the condition's advancement, allowing him to still enjoy a game of golf. He has also started a five year drug trial to manage his condition."This is for people in the future. My children and grandchildren."Trials like this are funded in part by charity work from the Multiple Sclerosis Society."Research such as this a key reason for the trio taking part in June's charity skydive."When I was a teenager I remember being in the pub talking to my friend about doing a skydive but I never got around to it," Mr Cherrison said."Now I'm doing one and it's a big tick off the bucket list!"
