Latest news with #CIMBGroup
The Sun
a day ago
- Business
- The Sun
U Mobile appoints CIMB as coordinator, lead arranger of up to RM4b financing for 5G rollout
PETALING JAYA: U Mobile has appointed CIMB as the company's loan coordinator and mandated lead arranger to facilitate and arrange financing of up to RM4 billion to support the nationwide deployment of its cutting-edge 5G network infrastructure. As part of the arrangement, CIMB intends to participate in the financing of at least RM1.5 billion with the balance to be syndicated among other financial institutions. The appointment was formalised at a signing ceremony in Kuala Lumpur on Friday. The financing will fund U Mobile's capital expenditure (capex) to accelerate the rollout of its Next Gen 5G network, which aims to achieve 80% coverage of populated areas by July 2026. The agreement was signed by U Mobile CEO Wong Heang Tuck and CIMB Group CEO of wholesale banking Chu Kok Wei, witnessed by U Mobile chief financial officer Sandy Tsang and CIMB head of corporate and public sector coverage Denise Wong. 'U Mobile is pleased to deepen our partnership with CIMB through this significant arrangement. CIMB shares our commitment to driving Malaysia's digital economy forward through connectivity and innovation,' Heang Tuck said in a statement. 'Partnering with a strong financial institution like CIMB demonstrates our ability in executing our capex programme efficiently. Their confidence in our financial discipline and growth trajectory reinforces our ability to deliver an enterprise-grade 5G network that is fast, scalable, and impactful for both businesses and consumers,' he added. Chu said, 'CIMB is pleased to partner with U Mobile on this strategic initiative to accelerate 5G coverage across Malaysia. This next-generation network will be a key catalyst not only in boosting social connectivity and economic inclusion across Malaysia, but positions Malaysia as a key enabler of Asean's digital economy. 'As a key financial institution in Malaysia and the region, we are grateful for the opportunity to continue leveraging our financial expertise, entrenched experience and strong business networks to spur U Mobile's growth in its national ambitions and Malaysia's broader digital transformation.' This milestone underscores U Mobile's continued momentum as the nation's newest 5G network provider, spurring digital connectivity and innovation, solidifying Malaysia's digital ambitions.
Yahoo
a day ago
- Business
- Yahoo
CIMB Group Holdings Berhad First Quarter 2025 Earnings: Revenues Disappoint
Revenue: RM5.21b (flat on 1Q 2024). Net income: RM1.97b (up 1.9% from 1Q 2024). Profit margin: 38% (in line with 1Q 2024). EPS: RM0.18 (up from RM0.18 in 1Q 2024). We've found 21 US stocks that are forecast to pay a dividend yield of over 6% next year. See the full list for free. All figures shown in the chart above are for the trailing 12 month (TTM) period Revenue missed analyst estimates by 3.1%. Earnings per share (EPS) was mostly in line with analyst estimates. Looking ahead, revenue is forecast to grow 7.0% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Banks industry in Malaysia. Performance of the Malaysian Banks industry. The company's share price is broadly unchanged from a week ago. We should say that we've discovered 1 warning sign for CIMB Group Holdings Berhad that you should be aware of before investing here. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Free Malaysia Today
2 days ago
- Business
- Free Malaysia Today
Move on, focus on replacing Tengku Zafrul in govt, Umno told
Former minister Nazri Aziz says investment, trade and industry minister Tengku Zafrul Aziz's exit from Umno should not be seen as a crisis. PETALING JAYA : Former Umno minister Nazri Aziz has urged the party to stop fretting over Tengku Zafrul Aziz's departure and instead focus on naming a replacement for him in the Cabinet. Nazri said Tengku Zafrul, who has announced his exit from Umno and also intention to join PKR, had done nothing wrong and was simply exercising his freedom of association. 'Why do you (Umno) want to stop people who don't want to be with us? Just let it be and move on,' he told FMT. 'And I don't think it's even impactful. So, I would advise Umno members not to worry about this and just focus on getting someone to take over the Cabinet position following Tengku Zafrul's departure from the party.' Nazri said Tengku Zafrul's departure was also expected, especially since he had stepped down as Selangor Umno treasurer in April last year. 'Actually, it's good for Umno now because he's going to finish his senatorship anyway, and then I'm sure the (Cabinet) vacancy will be given back to Umno,' he added. Tengku Zafrul is currently the investment, trade and industry minister in Prime Minister Anwar Ibrahim's Cabinet. Despite being an Umno member since 1997, the former CIMB Group CEO was widely seen as a technocrat when named as finance minister in Muhyiddin Yassin's Cabinet in March 2020, a role he retained in the subsequent Ismail Sabri Yaakob administration. Tengku Zafrul has been a senator since 2020, when he was first appointed, in order to take on his Cabinet positions. The senatorship has a maximum tenure of two terms, each lasting three years. Since the announcement of his exit, Umno Youth and Wanita Umno have urged Tengku Zafrul to relinquish his Cabinet position. Umno Supreme Council member Puad Zakarshi, on the other hand, questioned whether Tengku Zafrul can be held liable for RM100 million in damages for allegedly breaching his pledge as a Barisan Nasional candidate during the last general election (GE15). Separately, Umno deputy president Mohamad Hasan urged Umno members and supporters not to be disturbed by the departure of any individual. 'This party was not built in a day or two, nor does it stand on the shoulders of a single person. Umno is a responsibility far greater than that,' he said in a Facebook post expressing respect for Tengku Zafrul's decision and gratitude for his contributions. 'We have far more important work, to unite, to improve, and to restore the people's trust in us.'
Malay Mail
2 days ago
- Business
- Malay Mail
PKR: Tengku Zafrul hasn't applied to join yet despite Umno exit announcement, must go through proper vetting
KUALA LUMPUR, May 31 – PKR today said that it has yet to receive an official membership application from Datuk Seri Zafrul Abdul Aziz, despite his recent announcement that he is leaving Umno to join the party, Its secretary-general Fuziah Salleh said all membership applications must be submitted online and would undergo the party's standard vetting process before being deliberated by the central leadership council. 'The application will then be processed and presented at the party's central leadership council meeting,' she said in a press statement here. 'It will be thoroughly considered before a decision is made, taking into account various perspectives, including the views of our allies in the Unity government and grassroots.' Fuziah also mentioned that she had been informed of Tengku Zafrul's upcoming Haj pilgrimage and wished him a safe journey. Yesterday, Tengku Zafrul said he has resigned from Umno and announced plans to apply for membership in political ally PKR. The investment, trade and industry minister is also vacating his seat on the Umno Supreme Council as well as his position as its Kota Raja division chief. Lsat night, Umno secretary-general Datuk Asyraf Wajdi Dusuki also said the party had yet to officially receive the letter of resignation from Tengku Zafrul. Tengku Zafrul previously said that he had joined Umno back in 1997. He served as CIMB Group chief executive for six years before resigning from his post after being appointed senator and the country's finance minister in 2020. He had contested the Kuala Selangor parliamentary seat in the 15th general election but was defeated by Parti Amanah Negara's Datuk Seri Dzulkefly Ahmad.
Yahoo
2 days ago
- Business
- Yahoo
‘He came uninvited': Umno Youth chief mocks Tengku Zafrul's exit, urges him to quit Cabinet too
KUALA LUMPUR, May 31 — Umno Youth chief Dr Akmal Saleh has yesterday urged Datuk Seri Tengku Zafrul Aziz to also resign from his Cabinet post if he wishes to jump ship to PKR. In a Facebook post, Dr Akmal sarcastically applauded Tengku Zafrul's move and said the departure is much welcomed by Umno members. 'He should have resigned as a minister as well,' he wrote, referring to an attached link to the news of Tengku Zafrul's announcement. 'And to PKR, may you accept Tengku Zafrul's application to join PKR, which would then serve as proof of the 'loyal' friendship between Umno and PKR.' Yesterday, Tengku Zafrul said he has resigned from Umno and announced plans to apply for membership in political ally PKR. The investment, trade and industry minister is also vacating his seat on the Umno Supreme Council as well as his position as its Kota Raja division chief. Dr Akmal claimed that Umno members have been overjoyed by the news of Tengku Zafrul's announcement. 'He came uninvited, and his departure is not mourned. Umno is a party for all of us,' he wrote. Tengku Zafrul previously said that he had joined Umno back in 1997. He served as CIMB Group chief executive for six years before resigning from his post after being appointed senator and the country's finance minister in 2020. He had contested the Kuala Selangor parliamentary seat in the 15th general election but was defeated by Parti Amanah Negara's Datuk Seri Dzulkefly Ahmad.
