Latest news with #AxiataGroupBhd
The Star
7 days ago
- Business
- The Star
Axiata's 1Q net profit leaps to RM159.84mil
KUALA LUMPUR: Now in the second year of its 5*5 strategy, Axiata Group Bhd realised robust bottomline growth in the first quarter of 2025, underpinned by lower depreciation and amortisation, forex gains, lower net finance costs and a higher share of results from CelcomDigi. In the quarter under review, the telco group reported a net profit of RM159.84mil, more than double the net profit of RM60.03mil in the year-ago quarter, bringing its earnings per share to 1.7 sen from 0.7 sen previously. This was despite an 11.3% lower revenue of RM5.09bil, down from RM5.74bil in 1QFY24, due to forex translation, notably from the depreciation of the Indonesian rupiah and Bangladeshi taka. According to the group, there was substantial progress in 1QFY25 towards its strategic long-term and medium-term portfolio ambitions, driven by a sharper portfolio mindset. "The group's operational start to the new financial year clearly demonstrates our commitment to creating value from our portfolio of businesses. This quarter's performance highlights Axiata's ability to adapt, integrate and grow in a dynamic regional landscape, even amidst macroeconomic volatility," said chairman Tan Sri Shahril Ridza Ridzuan. Group CEO and managing director Vivek Sood said the group has taken steps to reposition towards its long and medium-term portfolio objectives. "We are confident that our strategic framework, focused on strengthening connectivity and convergence businesses while streamlining our portfolio for value creation and monetisation, will enable us to capitalise on significant market opportunities."
Malaysiakini
7 days ago
- Business
- Malaysiakini
Axiata's 1Q net profit more than doubles to RM159m
Axiata Group Bhd's net profit jumped to RM159.8 million in the first quarter ended March 31, 2025 (1Q 2025) from RM60.03 million in the same period last year. The increase was driven by foreign exchange gains, lower depreciation and amortisation, and higher contributions from CelcomDigi. In a filing with Bursa Malaysia, Axiata reported that...
The Star
07-05-2025
- Business
- The Star
Boost Bank achieves close to RM150mil in SME loans
Boost Bank CEO Fozia Amanulla. PETALING JAYA: Boost Bank, the fintech arm of Axiata Group Bhd and RHB Banking Group, has disbursed close to RM150mil in financing to small and medium enterprises (SMEs) since its launch last June. The country's first homegrown digital bank said in a statement that the achievement reaffirmed its strong support for driving financial inclusion and empowering underserved small businesses. 'With typical loan sizes around RM300,000, this momentum is driven by Boost Bank's core financing solutions, term loan and revolving credit facilities, which are designed to meet the diverse needs of SMEs with minimal documentation requirements, fast loan processing, and flexible repayment options. 'Hundreds of SMEs have benefited from these solutions, including businesses from the wholesale sector, manufacturing, retail, construction, food and beverage, and more to meet day-to-day needs, manage cash flows, and expand with fewer hurdles and more flexibility,' the bank said. Boost Bank chief executive officer Fozia Amanulla noted that SMEs were at the heart of Malaysia's economy. 'They create jobs, spark innovation, and keep our communities vibrant.' Trading ideas: Capital A, FGV, Malakoff, LFE, Hektar REIT, Favelle Favco, Life Water, Ivory, Masteel, Ygl, Jetson, Hartalega, Heineken, UOA REIT, Dufu
