Latest news with #HLB
Yahoo
4 days ago
- Business
- Yahoo
Why You're Drinking Florida Oranges But Eating California's
You may not have realized it, but in the past few years, there has been a sea change in the American orange industry as the tides shifted between the two biggest producers of Florida and California. While both states have historic citrus industries dating back to the 19th century, for most of the last century the Florida orange was king. From the 1940s until the mid 2010s Florida was the nation's largest citrus producer, and a huge part of that business was oranges. But while Florida grew the most oranges, you wouldn't usually find whole oranges from the Sunshine state in your local grocery store, even if you were in Florida. And recent challenges to growing oranges in the state have swung the balance in the industry back toward California. The reason Florida was producing so many oranges was the juice industry. Even at the height of production, 90% of the state's oranges were used for juice and processing instead of being sold fresh. There are a few reasons for this: Because of the wet climate, the oranges grown in Florida are extra juicy, making them a natural choice for processing. However, unlike the navel oranges mostly grown in California, they aren't seedless and are harder to peel by hand. California's Mediterranean climate is also considered ideal for citrus, and it produces very sweet, flavorful oranges. So the natural strengths of each state's oranges led to different uses. But that is not the only thing that has affected orange production recently. Read more: 29 Popular Bottled Water Brands, Ranked Worst To Best Florida's Orange Juice Crop Has Been Devastated By Disease And Hurricanes While Florida's oranges were already more suited to juice production, any chance you would have of seeing them for sale in a store has gone out the window with recent drop-offs in production. By 2025, Florida's orange production had fallen a whopping 95% from its highest peak, according to the USDA. Some of this is due to the major hurricanes that have hit Florida's citrus production regions and destroyed trees, but an even bigger issue is citrus greening. This is a disease, also called Huanglongbing or HLB, which is spread by an Asian insect that infects citrus trees, including oranges. The insect spreads a bacteria that feeds on the tree, causing the signature green color and causing smaller more sour fruit to be produced before eventually killing the tree. The disease first hit Florida in 2005 and has gone on to devastate citrus production in the state, with production dropping by 75% even before other recent disasters. California now produces almost twice as many oranges as Florida. In fact you may not even be drinking Florida oranges anymore. Despite still being mainly used for juice, Florida oranges now make up less than half the juice in most American store-bought orange juice. Instead, the gap has been filled by imported oranges from places like Mexico or Brazil. California citrus production has so far been mostly spared the ravages of greening, but the threat is there. For now, at least, your popular snacking oranges are safe. Read the original article on Tasting Table. Solve the daily Crossword
Malaysian Reserve
7 days ago
- Business
- Malaysian Reserve
Hong Leong Bank Launches Next-Generation Branches Designed for Enhanced Customer Experience and Interpersonal Connection
The Bank's innovative restructuring of its branch network has also led to winning the Best Branch Transformation Initiative in Asia Pacific award by The Asian Banker KUALA LUMPUR, Malaysia, July 16, 2025 /PRNewswire/ — As part of Hong Leong Bank's ('HLB' or 'the Bank') bankwide transformation plan, the Bank has unveiled the latest chapter in its ambitious branch transformation initiative with the unveiling of its next-generation branches. These include reimagined flagship branches in Old Klang Road, Cheras, and Kota Damansara, alongside a renewed branch in Cheng, Melaka. This comprehensive branch transformation builds on the success of the iconic Light Street branch in Penang launched exactly one year ago and the innovative Meet @ HLB concept introduced in Eco Majestic, Semenyih early this year. In a resounding testament to its innovative branch banking approach, HLB has also been awarded the Best Branch Transformation Initiative in Asia Pacific 2025 award by The Asian Banker. This prestigious recognition underscores the Bank's leadership in redefining the physical banking experience and its unwavering commitment to customer-centricity. Kevin Lam, Group Managing Director and CEO of HLB, commented on the Bank's strategic imperative to transcend branch banking model, as HLB works towards becoming the Best Run Bank in Malaysia. 'As a Digital Bank Plus Much More, we're reimagining our physical branches as a 'one-stop centre'. Here, you can address all your financial needs, from setting up your children's first savings account to comprehensive legacy planning and supporting your business growth with SME loans and green financing. We're also collaborating with other Hong Leong Financial Group companies to offer an extended range of products and services, including comprehensive insurance services and advisory centers, ensuring all your banking needs can be met under one roof. This creates a truly hybrid banking model, where our physical presence amplifies our digital capabilities by serving as centers for complex financial advisory, in-person portfolio management, and relationship building.' To achieve this excellence in efficiency and customer experience, HLB's reimagined branches are meticulously designed to foster an inviting, warm, and friendly atmosphere, where comfortable interiors encourage meaningful conversations about customers' financial futures. 'This is where human connection truly matters most,' Lam added. 'Crucial interactions, such as wealth advisory, insurance planning, and in-depth discussions about business growth, require a high degree of trust, empathy, and tailored advice. These new spaces are crafted to facilitate those private, conducive environments, because trust cannot be transacted; it must be built through genuine human interaction.' Each branch within HLB's comprehensive network is tailored to its local demographic, ensuring customers receive the most seamless, relevant, and accessible banking experience possible. The reimagined flagship branches now include a dedicated Priority Banking Center, which offers a private and inviting environment for customers. Similarly, for the Bank's business and corporate clients, these branches serve as vital community hubs, facilitating essential in-person discussions for business owners seeking financing, navigating uncertainties, or bespoke advisory services, reinforcing the invaluable human connection and dedicated partnership that empowers their growth. The four branches launched by HLB are just the first in a series of renewed branches that will be rolled out in the near future, as the Bank looks to further enhance its branch banking network and provide a seamless banking experience for its customers. For more information on the diversified services provided at HLB's branches, please visit About Hong Leong Bank Berhad Please visit
The Star
14-07-2025
- Business
- The Star
Banks poised for stable margins in second quarter
PETALING JAYA: Net interest margins (NIM) of local banks are likely to remain stable in the second quarter of 2025 (2Q25), with a slight increase expected, as they benefit from improved liquidity following Bank Negara's recent reduction of the statutory reserve requirement (SRR) from 2% to 1% effective May 16. Building on this, analysts estimate that the SRR cut has released about RM19bil in liquidity into the banking system. CGSI Research said banks could have benefitted from additional interest income earned from the funds released, potentially lifting banks' net interest income (NII) growth. 'With this, banks' NIM could be stable quarter-on-quarter (q-o-q) in 2Q25 with an upward bias. As a preview of 2Q25 financial results, we expect core net profit of banks under our coverage to come in at between RM9.2bil and RM9.3bil, slightly below the RM9.37bil recorded in 1Q25,' CGSI Research said in a report. The research firm said it was not overly concerned about the potential q-o-q upturn in loan loss provisioning (LLP) in 2Q25, as the credit charge-off rate is likely to remain low at about 15 basis points, which is below the pre-Covid-19 level of 25 basis points. As for loans, growth is expected to come in at 5% year-on-year (y-o-y) by end-June 2025, slightly lower than the 5.2% recorded at end-March. According to CGSI Research, loan growth in the banking sector showed a V-shaped pattern, easing to 5.1% y-o-y at end-April 2025 before recovering to 5.3% by end-May. This was driven by fluctuations in business loan growth, which slowed from 4.8% y-o-y in March to 4.6% in April, then picked up to 5% in May. In contrast, household loan growth remained steady at around 5.9% throughout the three months. Meanwhile, the research firm expects the gross impaired loan ratio to be around 1.45% at end-June 2025, roughly in line with 1.42% at end-March. Going back to 1Q25, CGSI Research said three banks, namely, Hong Leong Bank Bhd (HLB), Affin Bank Bhd and Alliance Bank Malaysia Bhd , had recorded double-digit y-o-y core net profit growth, which was primarily driven by lower LLP. Noteworthy too was that Malayan Banking Bhd delivered a record-high core net profit of RM2.59bil in 1Q25, thanks to a 17.9% drop in LLP. HLB's core net profit of RM1.35bil in 1Q25 was also an all-time high, but this was lifted by a RM399mil write-back in management overlay, said the research firm. Ongoing write-backs of management overlays by banks are the potential re-rating catalyst for the sector. This, along with expectations of higher dividend payout ratios by most banks, supports CGSI Research's 'overweight' rating on bank stocks.
The Star
20-06-2025
- Business
- The Star
Hong Leong Bank issues RM400mil Tier 2 subordinated notes
KUALA LUMPUR: Hong Leong Bank Bhd (HLB) has issued RM400 million in nominal value of Tier 2 subordinated notes under its multi-currency Tier 2 subordinated notes programme (HLB T2 Programme). In a filing with Bursa Malaysia today, the bank said the issuance comprises two tranches: Tranche 6 Series 1, amounting to RM75 million and Tranche 6 Series 2 totalling RM325 million. "Tranche 6 Series 1, with a tenure of 10 years, has a coupon rate of 3.78 per cent per annum, and is non-callable for five years, while Tranche 6 Series 2 has a tenure of 12 years, a coupon rate of 3.85 per cent per annum, and is non-callable for seven years. "Both tranches pay coupons every six months, with Tranche 6 Series 1 callable from June 20, 2030, and Tranche 6 Series 2 from June 21, 2032, on any subsequent coupon payment date," it said. HLB added that the proceeds from the subordinated notes will be utilised, without limitation, for its working capital, general banking, and other corporate purposes, and the refinancing of any existing borrowings incurred, subordinated debt issued by the bank and/or any existing subordinated notes issued under the HLB T2 Programme. RAM Rating Services Bhd has assigned an AA1 rating for the subordinated notes programme. - Bernama
Malaysian Reserve
13-06-2025
- Automotive
- Malaysian Reserve
HLB and DCAP Digital Collaborate to Boost SME Lending and Financial Inclusion with Cutting-Edge AI
KUALA LUMPUR, Malaysia, June 13, 2025 /PRNewswire/ — Aligned with its continuous efforts to support the SME ecosystem and offer tailored financial solutions to empower business development, Hong Leong Bank ('HLB' or the 'Bank') has signed a Memorandum of Understanding ('MoU') with DCAP Digital Sdn Bhd ('DCAP Digital'), enhancing its SME lending solutions infrastructure and driving financial inclusion for underbanked communities in Malaysia. Founded in 2020, DCAP Digital specializes in providing transparent and fair credit solutions through its full-stack Lending-as-a-Service ('LaaS') platform, offering an ecosystem for capital deployment into high-quality, pre-vetted borrowers alongside innovative digital tools that ensure efficiency, transparency, and compliance to regulatory requirements. Through this collaboration, HLB aims to leverage DCAP Digital's expertise in LaaS solutions, and especially its proprietary AI-driven credit scoring engine designed for more accurate and inclusive credit assessments, combining them with the Bank's robust financial solutions and extensive reach within the consumer financing and mobility (motorcycles and EVs) sectors to provide tailor-made lending solutions that are catered towards the customers' unique business and financing need. In May 2025 alone, over 61,000 motorcycles were newly registered in Malaysia, underscoring the dynamic nature and consistent demand within this market, yet one of the significant challenges in motorcycle financing, particularly for underbanked segments, often lies in efficiently establishing robust credit profiles and streamlining the Know-Your-Customer (KYC) processes. 'This represents a big step forward for HLB in terms of enhancing our lending services, as we continuously look to streamline our financing processes to better serve our dynamic pool of business customers', commented Woon Siew Hoong, HLB's Head of SME Banking. 'Aligned with our brand promise of being Built Around You, we are committed to maintaining a comprehensive suite of banking solutions that are designed to suit our customers' diverse needs, while ensuring the solutions are deployed in an efficient and seamless manner. Our partnership with DCAP Digital is a major milestone in this journey, where we combine AI integration, digital innovation, extensive market penetration, and tailored financing solutions to provide a truly enhanced customer experience.' With this partnership with DCAP Digital, HLB will primarily look to support its growing pool of motorcycle dealer customers, assisting them with seamless loan application processing and accelerated access into the Bank's Dealer Hire Purchase Program. HLB will also leverage on DCAP Digital's ecosystem to provide dealers with other relevant financing solutions, including cash management solutions, bank acceptance, and trade line services. Sonia Ng, Co-Founder & CEO of DCAP Digital added, 'We are thrilled to partner with HLB to further our mission of promoting financial inclusion through AI-powered credit solutions. This collaboration merges HLB's financial strength with our technology-driven approach, promoting seamless experiences, smart SME transformation and sustainable growth across the motorcycle ecosystem.' The collaboration will also involve joint promotional activities, such as workshops, seminars, and marketing campaigns to amplify visibility within the motorcycle industry, and training sessions for dealers on application best practices. For more information, please visit
