Latest news with #Khairussaleh
The Star
01-07-2025
- Business
- The Star
Maybank continues prioritising employee welfare
Maybank president and group CEO Datuk Khairussaleh Ramli PETALING JAYA: All employees of Malayan Banking Bhd (Maybank) are earning above RM3,100 a month, according to the largest banking group of Malaysia. Maybank said its employees' salaries are above the living-wage threshold, as benchmarked against the Employees Provident Fund's (EPF) Belanjawanku Guide. In a statement, the bank said it remains fully aligned with the Ekonomi Madani framework, especially the 'Raise the Floor' pillar, and will continue working alongside government-linked investment companies and the relevant stakeholders under the GEAR-uP programme to drive shared prosperity and a future-ready Malaysian workforce. Datuk Khairussaleh Ramli said the commitment is aligned to its purpose of being a values-based platform, powered by a workforce that humanises financial services and underscores long-standing commitment to fair, inclusive and sustainable pay practices. 'At Maybank, we believe that the welfare and wellbeing of employees, including fair and decent pay is not only a moral imperative, but also a business enabler. Ensuring that all our employees earn a competitive and sustainable wage is fundamental to building a resilient and future-ready workforce. It reflects our deep commitment to shared prosperity and the value of the Ekonomi Madani framework,' the Maybank president and group chief executive added. Maybank has implemented a comprehensive suite of structural and targeted initiatives to ease its lower-income employees' daily burdens and enhance financial security. These include festival aid, interest-free loans and access to a staff welfare fund for urgent medical or disaster-related needs. The bank also provides strong support for working families through an allowance for childcare and maternity care. In addition, employees' children enjoy annual back-to-school support and financial aid for those pursuing tertiary studies. To promote flexibility and personalisation, employees are also given options to optimise their benefits, such as converting Employees Provident Fund contributions for medical coverage or repurposing dental and optical allocations for digital-related expenses. Additionally, Khairussaleh said Maybank remains steadfast in creating a safe, enabling and inclusive workplace for all its employees, while providing a comprehensive and competitive suite of benefits designed to support the holistic wellbeing of its employees. For career development, the bank has put in place structured reskilling and upskilling programmes to empower its employees with relevant capabilities which include access to curated digital learning platforms, industry-recognised certifications and skills pathways aligned with internal mobility and career advancement. 'These initiatives contribute directly to the nation's objectives towards workforce resilience, social mobility, and the development of high-quality jobs,' Khairussaleh explained.
The Star
30-06-2025
- Business
- The Star
Maybank remains committed to 'fair, inclusive and sustainable' pay practices
Maybank president and group CEO Datuk Khairussaleh Ramli KUALA LUMPUR: Malayan Banking Bhd (Maybank) said all its employees in Malaysia are earning above the Living Wage threshold of RM3,100 a month, as benchmarked against the Employees Provident Fund's (EPF) Belanjawanku Guide. In a statement, the bank said it remains fully aligned with the Ekonomi Madani framework, especially the 'Raise the Floor' pillar, and will continue working alongside government-linked investment companies and the relevant stakeholders under the GEAR-uP programme to drive shared prosperity and a future-ready Malaysian workforce. Datuk Khairussaleh Ramli, president and group CEO of Maybank said that this commitment is aligned to Maybank's purpose of being a values based platform, powered by a bionic workforce that humanises financial services and underscores long-standing commitment to fair, inclusive and sustainable pay practices. 'At Maybank, we believe that employees welfare and wellbeing, including fair and decent pay is not only a moral imperative, but also a business enabler. Ensuring that all our employees earn a competitive and sustainable wage is fundamental to building a resilient and future-ready workforce. It reflects our deep commitment to shared prosperity and the value of the Ekonomi Madani framework," he added. Additionally, he said Maybank remains steadfast to creating a safe, enabling and inclusive workplace for all its employees, while providing a comprehensive and competitive suite of benefits designed to support the holistic wellbeing of its employees. For career development, the bank has put in place structured reskilling and upskilling programmes to empower its employees with relevant capabilities which include access to curated digital learning platforms, industry-recognised certifications and skills pathways aligned with internal mobility and career advancement. "These initiatives contribute directly to the nation's objectives towards workforce resilience, social mobility, and the development of high-quality jobs," said Khairussaleh.
The Star
27-05-2025
- Business
- The Star
‘Commendable earnings growth' drives 1Q25 results
PETALING JAYA: Malaysia's largest banking group began its new financial year with a decline in interest income, amid cautious business sentiment and moderated credit demand. However, thanks to a bigger decline in interest expense driven by lower deposits, Malayan Banking Bhd (Maybank) managed to report a stronger net interest income on a year-on-year basis for the first quarter ended March 31, 2025 (1Q25). Maybank president and group chief executive officer Datuk Khairussaleh Ramli described the lender's 1Q25 results as reflecting 'commendable earnings growth', underpinned by stable net interest margins, better asset quality and disciplined cost management. Nonetheless, Khairussaleh flagged that the global economic outlook remains uncertain. That said, he expects continued growth in the markets where the group operates. In a filing yesterday, Maybank reported a 6.5% y-o-y drop in interest income for 1Q25. After adjusting for expenses, net interest income rose 2.2% y-o-y to RM3.22bil. The net interest margin remained stable at 2.04%, supported by a 2.3% increase in net fund-based income to RM4.95bil. This was on the back of a 3.2% y-o-y loan growth across all home markets and key business segments. However, annualised loan growth was comparatively lower at 2.2%, reflecting the current operating environment, which continues to be impacted by cautious business sentiment and moderated credit demand. Non-interest income (NOII), which contributed 35.8% of total income, stood at RM2.76bil, supported by improved wealth management performance. Overall, Maybank's net profit for 1Q25 rose 4% y-o-y to RM2.59bil. Looking ahead, Khairussaleh said Maybank continues to strengthen its position across Asean, capitalising on intra-Asean and Asean + opportunities, particularly in trade, investment and cross-border connectivity. 'Our focus on completing M25+ (corporate strategy) remains steadfast, as we continue to drive meaningful progress on our strategic thrusts – strengthening our core, accelerating digital transformation and embedding sustainability in everything we do. 'We are particularly encouraged by the growing impact of our values-based solutions, which continue to create tangible benefits for our customers, while delivering positive social impact and environmental outcomes across the markets we serve,' he added. On loan performance, Maybank reported y-o-y increases across all its home markets: Malaysia (8%), Singapore (5.9%) and Indonesia (0.8%). On an annualised basis, loan growth was led by Malaysia at 6%, followed by Singapore at 3.3%. Meanwhile, the Indonesian market slid by 17.2%, mainly in the Global Banking division, due to the portfolio rebalancing initiative. The group's deposit grew by 5.1% y-o-y with Singapore seeing a 17.9% jump, while Malaysia recorded a modest 4.4% increase. On an annualised basis, deposits in Malaysia expanded by 3.4%, while Singapore and Indonesia contracted by 0.2% and 24.8%, respectively. The deposit reduction in Indonesia aligns with the portfolio rebalancing and releasing of high-cost deposits. In 1Q25, Maybank posted a net loss of RM670.1mil on its foreign-exchange translation, compared with a net gain of RM207.5mil in 1Q24. Overhead costs were also higher in 1Q25, rising by 2.3% y-o-y to RM3.7bil, driven by higher personnel expenses, marketing costs and software maintenance expenses. On a segmental basis, Maybank's Group Community Financial Services registered a 5.5% y-o-y increase in pre-tax profit for 1Q25 to RM1.48bil, supported by a 1.9% y-o-y growth in net operating income to RM4.5bil. Maybank attributed this to steady growth in both NOII and net fund-based income, which rose 6.5% and 0.4%, respectively. Meanwhile, the Group Global Banking (GGB) division recorded a 9.8% y-o-y increase in pre-tax profit for 1Q25 to RM1.76bil, driven by higher income and lower net impairment losses. Corporate loans grew across GGB's core markets, led by Malaysia with a 6.3% increase, while Singapore was up by 0.4%. On the funding side, customer deposits increased by 1.4% y-o-y, supported by a solid 4.8% growth in current account savings account, with Singapore delivering a substantial 64.5% increase. > TURN TO PAGE 2 The group's Islamic Banking business also posted a strong growth, with pre-tax profit rising 38.8% y-o-y to RM1.14bil in 1Q25, underpinned by a stable 1.3% increase in total income to RM2.13bil. Additionally, Etiqa Insurance & Takaful's underwriting income surged nearly threefold y-o-y to RM354.3mil, driven by contingency surplus release for the Family Takaful portfolio and better claims experience in the General/General Takaful portfolio. Maybank's Indonesian arm posted a robust 290.9% y-o-y increase in pre-tax profit to 506 billion rupiah in 1Q25, driven mainly by a significant rise in NOII and improved provisions. The group's Singaporean arm registered a 20.1% y-o-y rise in net fund-based income to S$193.1mil, benefiting from lower funding costs and write-backs in term loans effective interest rate adjustment. However, NOII dipped slightly by 1.6% to S$143.5mil due to lower Treasury income. Overall, Maybank reported asset quality remained healthy in 1Q25, with pre-provisioning operating profit rising 1.3% y-o-y to RM3.97bil. Annualised return on equity improved to 11.3% from 11.1% in 2024. Net impairment provisions also improved 21.7% to RM426.4mil on lower loan provisions by 17.9% to RM0.38bil. As a result, the net credit charge-off rate eased to 23 basis points (bps) from 2 8bps in the previous quarter. The gross impaired loans ratio improved by 5 bps to 1.27% in 1Q25 compared with 1Q24, while loan loss coverage remained strong at 122.9%. Maybank also maintained robust capital and liquidity positions in 1Q25 with a Common Equity Tier 1 capital ratio of 14.88% and total capital ratio of 17.96%. The group's liquidity coverage ratio remained stable at 135.7%, well above the regulatory requirement of 100%.
Business Times
19-05-2025
- Business
- Business Times
Two SGX listcos eye investments in Johor-Singapore Special Economic Zone: Maybank
[SINGAPORE] Singapore-listed companies Thomson Medical Group and Centurion Corporation have expressed interest to invest in the Johor-Singapore Special Economic Zone (JS-SEZ), said Maybank on Monday (May 19). The two listcos are among the Malaysian bank's three Singapore-headquartered clients that submitted letters of intent (LOIs) to the Iskandar Regional Development Authority at the JS-SEZ Partners' Dialogue: Advancing Facilitation event hosted by Malaysia's Ministry of Economy. A third company – Alpine Renewables and Edible Oils, a supplier of feedstock to biofuel producers in Europe, China, South Korea and the US – has also expressed interest in setting up facilities in JS-SEZ. The LOIs express a combined investment interest of up to RM2.35 billion (S$709.5 million) over the next three to 10 years. They 'signal confidence in the JS-SEZ's strategic value', said Khairussaleh Ramli, president and group chief executive officer of Maybank. 'These intended investments contribute to the development of the 11 JS-SEZ economic sectors, particularly in the green economy, manufacturing, logistics and healthcare, and align with the Madani Economy's aspirations of creating new growth engines, and adding high value jobs,' said Maybank. In addition to facilitating the submission of the LOIs from its Singapore clients, the bank also inked an LOI with the Malaysian Economic Ministry, outlining interests in joint efforts to promote the JS-SEZ. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up The bank has also launched initiatives to position the JS-SEZ as a regional hub, including upskilling micro, small and medium enterprises in areas of supply chain and halal facilitation, Khairussaleh said. It supports clients in strategic sectors of data centres, infrastructure and semiconductors and facilitated the approval of the first single family office in Malaysia and in the Forest City Special Financial Zone, he added. Centurion, a global owner and manager of worker and student accommodation, has expressed interest to invest RM300 million to RM500 million over the next five years to double its bed capacity in the JS-SEZ. Healthcare player Thomson Medical specified 'strong interest' to invest up to RM1.5 billion over the next ten years to develop Thomson Hospital Iskandariah on a 1.5 hectare site in Stulang, Iskandar. This hospital, which will be a multi-speciality tertiary care facility, aims to create some 1,500 jobs across clinical, research, specialist physician roles and support services such as healthcare technology, said Maybank. It will feature medical centres spanning disciplines such as oncology, orthopaedics, obstetrics and gynaecology, fertility and general surgery and will incorporate artificial intelligence-assisted tools. As for Alpine Renewables and Edible Oils, it plans to invest around RM350 million over the next three years to develop renewable energy feedstock pretreatment and renewable biodiesel refinery facilities in the Tanjong Langsat Industrial Port, in anticipation of rising demand for sustainable biofuels.
Business Times
19-05-2025
- Business
- Business Times
Two SGX listcos eye investments in JS-SEZ: Maybank
[SINGAPORE] Singapore-listed companies Thomson Medical Group and Centurion Corporation have expressed interest to invest in the Johor-Singapore Special Economic Zone (JS-SEZ), said Maybank on Monday (May 19). The two listcos are among the Malaysian bank's three Singapore-headquartered clients that submitted letters of intent (LOIs) to the Iskandar Regional Development Authority (IRDA) at the JS-SEZ Partners' Dialogue: Advancing Facilitation event hosted by the Malaysian Ministry of Economy on Monday. A third company, Alpine Renewables and Edible Oils, a supplier of feedstock to biofuel producers in Europe, China, South Korea and the US, has also expressed interest in establishing a presence in JS-SEZ. The LOIs express a combined investment interest of up to RM2.35 billion (S$709.5 million) over the next three to 10 years. At the event, Maybank facilitated the submission of the LOIs from its Singapore clients and inked an LOI with the ministry, outlining interests in joint efforts to promote the JS-SEZ. The LOIs 'signal confidence in the JS-SEZ's strategic value', said Khairussaleh Ramli, president and group chief executive officer of Maybank. 'These intended investments contribute to the development of the 11 JS-SEZ economic sectors, particularly in the green economy, manufacturing, logistics and healthcare, and align with the Madani Economy's aspirations of creating new growth engines, and adding high value jobs,' said Maybank. Maybank's LOI covers four key areas of financing support, promotion and global visibility by leveraging its extensive network, collaboration on events and stakeholder engagement and research and thought leadership. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up The bank has also launched initiatives to position the JS-SEZ as a regional hub, including upskilling micro, small and medium enterprises in areas of supply chain and halal facilitation, Khairussaleh said. It supports clients in strategic sectors of data centres, infrastructure and semiconductors and facilitated the approval of the first single family office in Malaysia and in the Forest City Special Financial Zone, he added. Up to RM2.35 billion of intended investments Centurion, a global owner and manager of worker and student accommodation, has expressed interest to invest RM300 million to RM500 million over the next five years to double its bed capacity in the JS-SEZ. Healthcare player Thomson Medical specified 'strong interest' to invest up to RM1.5 billion over the next ten years to develop Thomson Hospital Iskandariah on a 1.5 hectare site in Stulang, Iskandar, Malaysia. The envisaged hospital, a multi-speciality tertiary care facility, aims to create some 1,500 jobs across clinical, research, specialist physician roles and support services such as healthcare technology, said Maybank. It will feature medical centres spanning disciplines such as oncology, orthopaedics, obstetrics and gynaecology, fertility and general surgery and will incorporate artificial intelligence-assisted tools. The third company to indicate its interest, Alpine Renewables and Edible Oils, plans to invest around RM350 million over the next three years to develop renewable energy feedstock pretreatment and renewable biodiesel refinery facilities in the Tanjong Langsat Industrial Port, in anticipation of rising demand for sustainable biofuels.
