Latest news with #BankNegara
The Star
3 days ago
- Politics
- The Star
Asean News Headlines at 10pm on Friday (May 30, 2025)
Malaysia: * I've planned my next steps but will reveal them later, says Rafizi * Malaysia elected president of UN-Habitat Assembly for 2025-2029 term * Celebration of Kaamatan, Gawai festivals reflect country's diverse culture and heritage, says PM Anwar * I'm not the kind of PM who orders arrests like a dictator, Anwar says of Sabah mining scandal claims * Home Minister's WhatsApp account hacked using foreign VPN, say cops * Malaysia fully backs Tokyo Statement 2025 ahead of unveiling * Bank Negara: Malaysia's headline inflation unchanged at 1.4% in April * MBI scam: Tan Sri among three more arrested, RM500mil in luxury assets frozen * Religious school teacher in Jasin claims trial for sexually assaulting male student * Public varsity admission offers for SPM holders to be announced on June 16 * Mature democracy cannot exist without free, fair and fearless journalism, says Ramanan * Ex-Goldman banker Leissner gets two years in 1MDB fraud case * PM not seeking immunity, says Anwar's political secretary * Ex-Goldman banker Leissner apologises to Malaysians after being sentenced to two years in prison in 1MDB case * 'No regrets': Man United winger Amad explains obscene gesture to Malaysian fans during friendly match in Bukit Jalil * Malaysia Airlines debuts special Manchester United livery during 2025 Asia post-season tour * 'Where is the monkey?': Peka demands accountability and answers over Shah Alam animal abuse case * Hannah Yeoh wins defamation suit, Kamarul Zaman ordered to pay RM400,000 in damages US Secretary of Defense Pete Hegseth (left) shakes hands with Philippines' Secretary of National Defense Gilberto Teodoro (R) before a bilateral meeting on the sidelines of the Shangri-La Dialogue Summit in Singapore on Friday, May 30, 2025. -- Photo by MOHD RASFAN / AFP Singapore: * Singapore and France to expand defence ties, cooperate on nuclear energy in upgraded relationship * Malaysian PM Anwar to deliver special address at Shangri-La Dialogue in Singapore * Macron will kick off Singapore security conference with Hegseth in attendance * Israel may be in breach of international law by restricting aid to Gaza, says Singapore PM Wong * Almost 50 countries to attend 22nd Shangri-La Dialogue in Singapore * Singapore arrests 44 for suspected prostitution, gambling activities in Geylang * 'Johor too long known as just Singapore's neighbour'- More effort needed to make state a primary tourism destination * Stocks slip, dollar sags as Trump tariffs remain after latest courtroom twist / Stocks drop on tariff whiplash, futures decline * Badminton: World No. 1 pair Sze Fei-Izzuddin bow out in quarter-finals of Singapore Open / Badminton: Pearly Tan-Thinaah run out of steam again in second straight loss to Chinese pair Indonesia: * Macron urges Asia and Europe to unite to resist 'spheres of coercion' * Indonesia calls in Singapore oil traders over Pertamina probe * Rock collapse at Indonesia quarry kills at least five with dozens trapped, Kompas TV reports * Indonesian Manpower Ministry bans age restrictions in job postings * Indonesia-France: Macron decorates Prabowo, affirms culture links * Oil set for second weekly decline as market eyes another OPEC+ output hike ERIN, WISCONSIN: Patty Tavatanakit of Thailand chips onto the fifth green during the first round of the US Women's Open presented by Ally 2025 at Erin Hills Golf Course in Erin, Wisconsin. -- Photo:/AFP Thailand: * Ex-Thai DPM: Myanmar must end conflict or face humanitarian crisis * Malaysia-Thailand collaboration in agriculture set for major expansion * Thai poultry industry poised for growth on Brazil bird flu, lower feed costs * Chinese lidar maker Hesai zeroes in on South-East Asia for first overseas plant * South-East Asian trafficked cyber victims freed but far from home * Thailand to issue statement to resolve clash point in Chong Bok area Philippines: * Woman who crawled out of drain in the Philippines found, as a nation grapples with homelessness * Marcos admin wants seven bills enacted before new Congress starts * US sanctions Philippines digital infrastructure provider linked to virtual currency scams * Filipino actor Alden Richards reveals battle with depression in 2024 * Ex-Filipino congressman accused of murders to be deported A woman prepares flowers at a local street market, in Hanoi, Vietnam. -- REUTERS/Chalinee Thirasupa Vietnam: * Malaysian PM Anwar highlights Vietnam's key role in Asean * Work on US$1 bil Trump Tower in Vietnam could start next year, source says * Proposal to give State Bank in Vietnam special lending authority * Vietnam stresses coordination in marine economy * Hanoi pulls The Economist printed issue with top leader on cover Myanmar: * Myanmar earthquake kills 3,739, injures 5,104 as of May 28 * Bangladesh recalls ambassador from Myanmar * Myanmar Football -- Maung Maung's fame mounts after his goal seals dream victory * Global crises disrupt effort to get millions to quit smoking, report says Balinese women perform a traditional dance at Art Center Denpasar on Indonesia's resort island of Bali on Friday, May 30, 2025. -- Photo by SONNY TUMBELAKA / AFP Cambodia: * Shattering glass sandbags: Meet the first Cambodian women UN commander in Lebanon * Cambodian American chefs are finding success and raising their culture's profile. On their terms * Cambodia will retain military presence at scene of armed clash * Japanese held in Cambodia scam raids - govt going hard on fraud centres Laos: * 'They must be protected': Lao PM pledges to safeguard children's rights * Illegal surrogacy in Laos punishable by up to 19 years in jail, govt warns as cases reported * Laos strengthens efforts to attract Chinese tourists Brunei: * Brunei's international exhibition fare returns to attract foreign visitors * Tourism drive promotes scenic charm, serenity of Brunei France's President Emmanuel Macron gives the keynote address at the Shangri-La Dialogue Summit in Singapore on Friday, May 30, 2025. -- Photo by Ludovic MARIN / AFP AseanPlus: * Badminton: Aaron-Wooi Yik edge past Wei Chong-Kai Wun to reach Singapore Open semis * Malaysia's international reserves assets at US$118.70bil as of end-April * Cops raid drug lab in Brickfields making narcotic vapes, nab two Taiwanese chemists * Oil tankers going dark off Malaysia as Iran trade draws scrutiny * Political parties from China and neighbouring nations pledge closer cooperation * YouTube's top star 'Baby Shark' creator Pinkfong applies for IPO in South Korea * HK stars Eric Tsang, Chin Ka-lok & more to hold concert in Genting Highlands on July 19 * Nearly one in four ballots already cast as early voting in South Korea breaks turnout records * War of the words: Why top US diplomat Rubio is lost in China's translations * China plans to arm Tiangong space station with self-defence bots: scientist * China's Tianwen-2 lifts off on mission to bring asteroid samples back to Earth * Chinese paraglider reaches near-record heights, over 8,500m, by accident * China's new tech for quieter subs could revolutionise underwater stealth: study * US to pause student visa interviews ahead of new social media vetting: reports * Rolls-Royce to operate new aero engine facility in Beijing * China establishes global mediation body in Hong Kong * Korean eatery boss wows diners, balances table full of dishes on head while serving * US to start 'aggressively' revoking visas for Chinese students, Rubio says * South Korea goes o the polls - Early voting starts for election triggered by martial law * Second group of Hong Kong democrats freed after four years in jail * 'Solo Leveling' emerges as biggest winner at anime awards in Tokyo * Japan to create digital archive of manga, anime and games * Can Hong Kong's Cathay compete against rivals dishing out hefty bonuses? * Jackie Chan's 42YO son makes rare public appearance at wedding in South Korea * Trump aims to exceed first term weapons sales to Taiwan, officials say * New president, new hopes for calm at South Korean village near DMZ * Firefighters put out Hong Kong warehouse blaze that raged for over 20 hours * TVB actor Ruco Chan unfazed by 'seven-year itch' with wife Phoebe Sin * Nagasaki bomb survivor claws at traces of history * Can Hong Kong's Cathay compete against rivals dishing out hefty bonuses? * Indian Navy will lead New Delhi's response to any future Pakistani aggression, minister says * Death penalty for saying 'oppa'?: North Korea strengthens law to curb 'anti-socialist culture' in the South * Japan'sfavourite ex-princess, Mako Komuro, has given birth to her first Child, says Imperial Household Agency * North Korea enabled Russian attacks on Ukraine civilian infrastructure, says UN monitoring group * Taco trade? US leader challenges claim that 'Trump always chickens out' in talks * Cricket - Kohli closer to maiden IPL title as Bengaluru storm into final * Motor racing - Hamilton says talk of friction with engineer "all noise"
The Star
3 days ago
- Business
- The Star
AICB reaffirms role in shaping future-ready bankers
AICB chairman Tan Sri Azman Hashim. KUALA LUMPUR: The Asian Institute of Chartered Bankers (AICB) has reaffirmed the growing importance of nurturing future-ready and ethical banking and finance professionals, amid rising challenges in cybersecurity, data privacy, sustainable finance, and the accelerating pace of digital transformation and financial technology. In a statement, AICB said it had recently held its Eighth Chartered Banker Conferment Ceremony, honouring banking professionals who exemplify the highest standards of professional excellence and lifelong learning in an increasingly complex financial environment. Bank Negara governor Datuk Seri Abdul Rasheed Ghaffour, who delivered the special address at the event, said Malaysia has made significant investments in developing talent for its financial sector. 'Over the years, we have built a comprehensive ecosystem of talent affiliates offering training, certification, and forward-looking guidance on the skills needed by the financial industry. 'I also wish to highlight the important role of financial institutions in complementing these efforts through their respective learning and development academies,' he said. While acknowledging that the financial services sector benefits from a strong talent development ecosystem, he stressed the need for more collective action to future-proof the workforce. AICB chairman Tan Sri Azman Hashim said he was deeply honoured by the recognition received at the event. 'Banking transcends numbers – it is about trust, stewardship and purpose. I hope this inspires more professionals to embrace continuous learning and lead with integrity in shaping the future of finance,' he said. AICB chief executive Edward Ling said in today's environment, professionalism and upskilling in banking are no longer optional but essential. 'At AICB, we are committed to expanding our growing community of over 800 chartered bankers in the next two years, empowering the industry with future-ready capabilities. 'Through our robust education programmes, Future Skills Framework, and thought leadership in areas such as digital innovation and sustainable finance, we aim to equip members with the critical skills and professional foundations needed to navigate and innovate the future of banking and finance,' he said. 'Attended by over 480 guests, including members of the AICB Council and C-suite executives, the Eighth Chartered Banker Conferment Ceremony reaffirmed AICB's role in building a resilient, ethical, and future-ready banking workforce for Malaysia and the region,' AICB said. AICB added that as banking continues to evolve, it remains committed to professionalising and upskilling the workforce through its education offerings. — Bernama
The Star
5 days ago
- Business
- The Star
RHB sustains growth
PETALING JAYA: RHB Bank Bhd (RHB) is keeping a cautious stance amid evolving macroeconomic conditions, shaped by interest rate movements and global trade dynamics, although it expects the recent reduction in the statutory reserve requirement by Bank Negara to provide funding flexibility in the quarters ahead. In addition, the lender is projecting for the banking sector to maintain its strong capital and liquidity positions. RHB's group managing director and group chief executive Datuk Mohd Rashid Mohamad said the bank's new three-year strategic roadmap, named PROGRESS27, has set a clear course for the lender toward becoming the best in service, enhancing profitability and reinforcing its purpose-driven commitment. 'With focused execution priorities, from simplifying customer journeys to advancing our sustainability ambitions, we are well-positioned to deliver near-term value while unlocking long-term value for all stakeholders,' added Mohd Rashid. Releasing its results for the first quarter ended March 31 (1Q25) yesterday, RHB saw net profit inch up by 2.7% year-on-year (y-o-y) to RM750mil, despite a marginal dip in revenue to RM4.39bil. The 1Q25 performance translates to an earnings per share of 17.2 sen. The group attributed the growth in net profit primarily to higher net funding income and improved credit cost management, which was offset by lower non-fund based income, higher tax expense, higher operating expenses and higher share of loss in associates. At the same time, it reported that total income stood at RM2bil, a marginal dip of 1.9% y-o-y mainly from contraction in non-fund based income due to lower net gain on foreign exchange (forex) and derivatives, as well as net trading and investment income. RHB said it has maintained operational stability, supported by prudent cost management, continued strength in capital and liquidity positions, reflected by the containment of cost growth at 1.2%, while cost-to-income ratio stood at 47.4% from 45.9% a year ago, reflecting the marginal contraction in income. Commenting on the results, Mohd Rashid remarked that the sustaining of the bank's earnings growth momentum in 1Q25 was underpinned by solid fundamentals and early traction from its PROGRESS27 strategy. 'Our cost optimisation efforts are beginning to deliver results, enabling us to contain expenses while driving growth in key segments. 'At the same time, our continued focus on asset quality has led to a reduction in credit cost. We remained disciplined in execution, strengthening our core capabilities, driving operational excellence, and unlocking new growth opportunities.' Net fund based income increased by 7.3% to RM1.49bil y-o-y on the back of gross loans and financing growth of 6.3%, while non-fund based income declined by 20.2% to RM561mil from a year ago, driven by lower net trading and investment income, lower net gain on forex and derivatives as well as lower income from its insurance business, partly offset by higher fee income. Net allowance for credit losses was lower at RM105.8mil, primarily due to lower credit losses on loans and financing. Meanwhile, total assets of the group increased by 0.7% from December 2024 to RM352.5bil as at March 31, 2025, with net assets per share at RM7.39, and shareholders' equity at RM32.2bil. Concurrently, the group's gross loans and financing grew by 6.3% y-o-y to RM239.2bil, mainly supported by growth in mortgage, corporate, commercial and automotive finance. RHB's gross impaired loans (GIL) increased marginally to RM3.6bil, with a GIL ratio of 1.50%, from 1.47%, or RM3.5bil in December 2024. The group reported a domestic GIL ratio of 1.22%, which is lower than the banking industry's GIL ratio of 1.42%. Loan loss coverage ratio for the group, including regulatory reserves, improved to 115.7%, while it stands at 76.9% if regulatory reserves are excluded. Customer deposits increased by 2.3% to RM248.5bil, primarily due to growth in money market time deposits by 31.3%, offset by a decrease in current accounts and saving accounts (Casa) by 1.1% and fixed deposits by 0.9%. Casa composition stood at 28.0% as at March 31, 2025, and liquidity coverage ratio remained sound at 134.6%. Compared to the previous quarter ended December 2024, RHB saw net profit decrease by 10.1% from RM834.5mil, which it attributed mainly to lower non-fund based income and higher allowances for credit losses. These were partly offset by lower operating expenses, higher net funding income, lower impairment on other non-financial assets and lower share of loss in associates during 1Q25. RHB did not declare any dividends for the quarter.
The Star
6 days ago
- Business
- The Star
Elderly company director loses RM1.4mil to online trading scam
IPOH: A 75-year-old company director here lost about RM1.4mil after falling victim to an online trading scam. Perak police chief Comm Datuk Noor Hisam Nordin said the man had on April 15 received a call from an unknown woman offering him to be a business partner who buys products from foreign companies. "Having supposedly checked the status of the company, which he found to be operating since 1989, he agreed to take part. "He was asked to download a mobile app SHV Shop that sells luxurious branded items," Comm Noor Hisam said in a statement on Tuesday (May 27). "If someone wants to buy a product, the man would need to pay for it up front and he would get 30% in commission," he said, adding that his first transaction of about RM22,122 was made through a cash deposit machine to a bank account of said company. "Having received the return, he trusted the company and conducted online and over-the-counter transactions of about RM1.4mil into six different bank accounts. "After the transactions, he stopped receiving any returns and he realised he has been cheated," he added. Comm Noor Hisam said the man lodged a report on Sunday (May 25), with the case to be investigated under Section 420 of the Penal Code for cheating. "The police would like to remind the people to be careful of investment schemes that promise overly-high returns. "Also check trustworthy sources like SemakMule, Bank Negara and Securities Commission to get more information before investing in any schemes," he added.
Yahoo
26-05-2025
- Business
- Yahoo
Selangor top cop: Businessman loses RM5.3m after joining fake investment scheme on social media
KUALA LUMPUR, May 25 — A 67-year-old businessman has lost RM5.3 million after falling victim to a fraudulent investment scheme advertised through the Google app. Selangor police chief Datuk Hussein Omar Khan said the scam involved a fake platform called Primus Pacific Partners, The Star reported. 'The victim clicked on the advertisement and was redirected to WhatsApp, where contact was established via phone call with a woman who introduced herself as 'Ms Ng', claiming to be an investment coach,' he said in a statement today. 'The victim was given an explanation about the investment and was added to a WhatsApp group,' he said. Hussein said the man followed the investment scheme for about a week before 'Ms Ng' instructed him to register on a website named The businessman initially received a return of RM24,308.48, which boosted his confidence in the platform. He later made 13 fund transfers totalling RM5.3 million to three different bank accounts. Hussein said the victim was promised returns based on market rates, but when he tried to withdraw his investment profits, he was told to pay various tax charges. Police have opened an investigation under Section 420 of the Penal Code for cheating, which carries a maximum penalty of 10 years' jail, whipping, and a fine upon conviction. Police also advised the public to be cautious of investment offers on social media, especially those offering high returns or involving platforms not recognised by Bank Negara Malaysia or the Securities Commission Malaysia. Those who encounter suspicious or fraudulent activity can contact the National Scam Response Centre at 997.
