Latest news with #BPMB
New Straits Times
a day ago
- Business
- New Straits Times
MARC reaffirms AAA rating on Ranhill Sabah Energy sukuk
KUALA LUMPUR: MARC Ratings has reaffirmed its AAAIS(bg) rating on Ranhill Sabah Energy II Sdn Bhd (RSEII) RM250 million Islamic Medium-Term Notes Programme, maintaining a stable outlook. In a statement, MARC said the rating reflects the unconditional and irrevocable guarantee provided by Bank Pembangunan Malaysia Bhd (BPMB), which is itself rated AAA/Stable by the agency. "This rating continues to reflect strong liquidity and stable cash flow coverage, with sukukholder interests well protected by BPMB's guarantee," MARC said. RSEII owns and operates the 190-megawatt combined-cycle gas turbine Rugading Power Station in Sabah under a 21-year power purchase agreement (PPA) with Sabah Electricity Sdn Bhd, a subsidiary of Tenaga Nasional Bhd. MARC noted that the plant delivered strong performance in 2024, keeping its unplanned outage rate below the 4.0 per cent limit set by the PPA, which resulted in a full capacity payment of RM69.1 million. The plant also met heat rate efficiency targets, enabling full cost pass-through to the offtaker. Total energy payments for the year amounted to RM131.9 million. Operating profit improved to RM23.5 million in 2024, up from RM18.4 million the year before, which had been impacted by major maintenance work. RSEII's cash balance stood at RM85.6 million as of end-March 2025, sufficient to cover the RM56.9 million due in principal and profit payments by June 17. Based on base case cash flow projections, RSEII's average and minimum finance service coverage ratios are forecasted at two times and 1.9 times through 2029, respectively.
Free Malaysia Today
28-05-2025
- Business
- Free Malaysia Today
4 banks fined nearly RM5mil over regulatory breaches
Bank Negara Malaysia said the fines were issued for breaches of financial regulations committed by the four financial institutions. KUALA LUMPUR : Bank Negara Malaysia (BNM) has imposed administrative monetary penalties totalling RM4.95 million on Bank Pembangunan Malaysia Bhd (BPMB), HSBC Bank Malaysia Bhd, HSBC Amanah Malaysia Bhd, and Maybank Islamic Bhd for breaches of financial regulations. The central bank said it imposed an administrative monetary penalty of RM493,500 on BPMB for non-compliance with provisions under the Development Financial Institutions Act 2002 as well as the Anti-Money Laundering, Countering Financing of Terrorism and Targeted Financial Sanctions for Financial Institutions (AML/CFT & TFS) Policy Document. In a statement, BNM said it also imposed an administrative monetary penalty of RM3.26 million on HSBC Bank and HSBC Amanah for non-compliances. The penalties were issued for non-compliance with the Financial Services Act 2013, Islamic Financial Services Act 2013 and requirements pertaining to the AML/CFT & TFS policy document. BNM also said it imposed a penalty of RM1.2 million on Maybank Islamic on March 3 for non-compliance with Section 155(3)(b) of the Islamic Financial Services Act 2013. The penalty was also issued for non-compliance with the Central Credit Reference Information System Policy Document, said the central bank.
BusinessToday
28-05-2025
- Business
- BusinessToday
Bank Negara Penalises BPMB RM493,500 For Non-Compliance
Bank Negara Malaysia had imposed an Administrative Monetary Penalty amounting to a total of RM493,500 on Bank Pembangunan Malaysia Berhad (BPMB) for not following non-compliance guidelines on customer due diligence (CDD) and sanctions screening requirements. BPMB was imposed RM229,500 under the Anti-Money Laundering, Countering Financing of Terrorism and Targeted Financial Sanctions for Financial Institutions Policy Document. In determining the imposition of the AMP, BNM considered the relevant aggravating and mitigating factors, including: BPMB's failure to take reasonable steps to ensure staff's sufficient understanding of the requirements; BPMB's remedial actions taken to rectify the gaps; and this is BPMB's first AML/CFT non-compliance. The on 7 April 2025, BNM imposed RM264,000 on BPMB for the same offence. o BPMB paid a total of RM493,500 for the AMP imposed by BNM on 5 March (RM229,500) and 16 April 2025 (RM264,000). Related
New Straits Times
28-05-2025
- Business
- New Straits Times
BNM imposes penalties on four financial institutions for regulatory breaches
KUALA LUMPUR: Bank Negara Malaysia (BNM) has imposed an administrative monetary penalty on four banks, namely Bank Pembangunan Malaysia Bhd (BPMB), HSBC Bank Malaysia Bhd, HSBC Amanah Malaysia Bhd and Maybank Islamic Bhd for various breaches of financial regulations. In a statement, the central bank said it has imposed an administrative monetary penalty amounting to RM493,500 on BPMB for non-compliance with provisions under the Development Financial Institutions Act 2002 as well as the Anti-Money Laundering, Countering Financing of Terrorism and Targeted Financial Sanctions for Financial Institutions (AML/CFT & TFS) Policy Document. It has also imposed an administrative monetary penalty of RM3.26 million on HSBC Bank Malaysia Bhd for non-compliances related to customer due diligence and sanctions screening requirements, as well as on HSBC Amanah Malaysia Bhd for non-compliances. The penalty was issued for non-compliance with the Financial Services Act 2013, the Islamic Financial Services Act 2013, and requirements pertaining to the Anti-Money Laundering, Countering Financing of Terrorism, Countering Proliferation Financing, and Targeted Financial Sanctions for Financial Institutions. BNM also highlighted that it had, on March 3, 2025, imposed a penalty of RM1.2 million on Maybank Islamic Bhd for non-compliance with section 155(3)(b) of the Islamic Financial Services Act 2013. The penalty was issued for non-compliance with the Islamic Financial Services Act 2013 and Central Credit Reference Information System Policy Document, said the central bank.
The Star
28-05-2025
- Business
- The Star
Bank Negara imposes penalties on four financial institutions for regulatory breaches
KUALA LUMPUR: Bank Negara Malaysia (BNM) has imposed an administrative monetary penalty on four banks, namely Bank Pembangunan Malaysia Bhd (BPMB), HSBC Bank Malaysia Bhd, HSBC Amanah Malaysia Bhd and Maybank Islamic Bhd for various breaches of financial regulations. In a statement, the central bank said it has imposed an administrative monetary penalty amounting to RM493,500 on BPMB for non-compliance with provisions under the Development Financial Institutions Act 2002 as well as the Anti-Money Laundering, Countering Financing of Terrorism and Targeted Financial Sanctions for Financial Institutions (AML/CFT & TFS) Policy Document. It has also imposed an administrative monetary penalty of RM3.26 million on HSBC Bank Malaysia Bhd for non-compliances related to customer due diligence and sanctions screening requirements, as well as on HSBC Amanah Malaysia Bhd for non-compliances. The penalty was issued for non-compliance with the Financial Services Act 2013, the Islamic Financial Services Act 2013, and requirements pertaining to the Anti-Money Laundering, Countering Financing of Terrorism, Countering Proliferation Financing, and Targeted Financial Sanctions for Financial Institutions. BNM also highlighted that it had, on March 3, 2025, imposed a penalty of RM1.2 million on Maybank Islamic Bhd for non-compliance with section 155(3)(b) of the Islamic Financial Services Act 2013. The penalty was issued for non-compliance with the Islamic Financial Services Act 2013 and Central Credit Reference Information System Policy Document, said the central bank. - Bernama
