Latest news with #MBSB
The Star
27-05-2025
- Business
- The Star
MBSB reports 1Q net profit up 8.1% to RM85mil
KUALA LUMPUR: MBSB Bhd has posted a higher net profit of RM84.67mil in the first quarter ended March 31 (1Q25), an 8.1% increase against 1Q24's RM78.34mil, supported by higher net funded income and lower impairment provisions. Revenue was 2.8% lower at RM868.02mil from RM893.45mil previously, the group said in a Bursa Malaysia filing yesterday. 'The lower revenue is mainly due to lower profit income for loans, financing and advances. The impairment allowance for the quarter was RM28.1mil, contributed by additional provisioning for retail portfolios,' the financial services company said. In a separate statement, MBSB said total gross financing remained consistent at RM42.6bil because the group had maintained a disciplined financing posture in line with prevailing market dynamics. Meanwhile, its current and savings account ratio improved to 9.26%, with a RM700mil increase in balances over the year, particularly from commercial and corporate clients. Group chief executive officer Rafe Haneef said its integration with MIDF has opened up new capabilities and created opportunities to reach a broader customer base. He said MBSB's priorities for the remainder of this year include enhancing small and medium enterprise propositions, expanding digital touchpoints, and improving customer experience. 'With transformation initiatives underway, the group remains focused on long-term sustainability and building a more agile, customer-focused organisation,' he added. — Bernama
The Star
26-05-2025
- Business
- The Star
MBSB 1Q net profit up 8.1% to RM84.67mil, new opportunities from MIDF integration
KUALA LUMPUR: MBSB Bhd has posted a higher net profit of RM84.67 million in the first quarter ended March 31, 2025 (1Q FY2025), an 8.1 per cent increase against 1Q FY2024's RM78.34 million, supported by higher net funded income and lower impairment provisions. Revenue was 2.8 per cent lower at RM868.02 million from RM893.45 million previously, the group said in a Bursa Malaysia filing today. "The lower revenue is mainly due to lower profit income for loans, financing and advances. The impairment allowance for the quarter was RM28.1 million, contributed by additional provisioning for retail portfolios,' it said. In a separate statement, MBSB said total gross financing remained consistent at RM42.6 billion because the group had maintained a disciplined financing posture in line with prevailing market dynamics. Meanwhile, its current and savings account ratio improved to 9.26 per cent, with a RM700 million increase in balances over the year, particularly from commercial and corporate clients. Group chief executive officer Rafe Haneef said the integration with MIDF has opened up new capabilities and created opportunities to reach a broader customer base. He said MBSB's priorities for the remainder of 2025 include enhancing small and medium enterprise propositions, expanding digital touchpoints, and improving customer experience. "With transformation initiatives underway, the group remains focused on long-term sustainability and building a more agile, customer-focused organisation,' he added. - Bernama
Daily Express
22-04-2025
- Daily Express
RM24.2 million fixed deposit fraud: Eight submit representation letters to AGC
Published on: Tuesday, April 22, 2025 Published on: Tue, Apr 22, 2025 By: Jo Ann Mool Text Size: The case was fixed for mention on Monday, for the parties to update the court on the status of the representations submitted by the accused. Kota Kinabalu: Eight of the 10 individuals, including two bank managers, charged with being members of an organised crime group linked to fraudulent withdrawal of RM24.2 million from fixed deposit accounts, have submitted letters of representation to the Attorney-General's Chambers (AGC) regarding the case. Deputy Public Prosecutor Datuk Nazran Mohd Sham informed High Court Judge Datuk Duncan Sikodol on Monday that the prosecution had received representations from eight accused persons, namely Josepin J. Langkan, Leong Hin Ping, Vireonis Jonok, Hasran Magin, Subramaniam Thangavelu, Sugumaran K. Ponniah, Mazlani Jenuary and Nasir Abdul Rasid. Nazran said that the eight had submitted representations for the charges to be reviewed. As for the other two remaining accused persons, Nazran said they are considering submitting representation letters as well. The two are Iren Chin Nyuk Thien and Christina @ Caroline Pianus Etip. The case was fixed for mention on Monday, for the parties to update the court on the status of the representations submitted by the accused. The 10 were separately charged with being members of an organised crime group involved in serious offences for the material benefit of the group led by Josepin J. Langkan between April 26, 2024 and July 10 the same year at the MBSB branch, here. They are contractor Josepin J. Langkan, 38; Subramaniam Thangavelu, 56, a teacher; Nasir Abdul Rasid, 60, a pensioner; Iren Chin Nyuk Thien, 38, and Christina @ Caroline Pianus Etip, 53, both branch bank managers; Sugumaran K. Ponniah, 56, a self-employed; Vireonis Jonok, 35, an unemployed; Leong Hin Ping, 62, a pensioner; Hasran Magin, 46, a fisherman; and Mazlani Jenuary, 53, an unemployed. The charges stated that Josepin allegedly committed the crime between April 26 and June 17, Subramaniam (between May 9 and July 4), Nasir (between April 26, and July 1), Chin (between April 26, and June 13), Christina (between May 9 and June 17), Sugumaran (between May 17 and July 3), Vireonis (between June 5 and June 26), Leong (between April 26 and July 10), Hasran (between April 26 and June 1) and Mazlani (between April 26 and July 4). The 10, on Nov 7, 2024, claimed trial to the charge under Section 130V(1) of the Penal Code, which carries a jail term of between five and 20 years, on conviction. Duncan fixed May 27 and June 5 for mention to update the court on the representations by the accused. The court also directed that the trial date previously set for May 13-15 be vacated. Josepin, Leong and Vireonis were represented by counsel Hairul V Othman and Luke Ressa Balang; Subramaniam was represented by counsel Datuk Ram Singh and Prem Elmer Ganasan; Sugumaran, Nasir and Mazlani were defended by counsel Dominic Chew and Ariel Dasan; Chin was represented by counsel Mohd Al Hafidz Mohd Lokman and Luqman Syazwan Zabidi; Christina was represented by counsel Arthur and Hasran was represented by counsel Azhier Farhan. All accused, except Chin and Vireonis, were ordered to be remanded further. Chin and Vireonis were released on extended court bail. * Follow us on Instagram and join our Telegram and/or WhatsApp channel(s) for the latest news you don't want to miss. * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
Borneo Post
21-04-2025
- Borneo Post
Prosecution receives representations from eight accused in RM24.2 million fraud case
KOTA KINABALU (April 21): The prosecution has received representations from eight of the ten individuals accused of fraudulently withdrawing RM24.2 million from fixed deposit accounts, the High Court was told today. Deputy public prosecutor Datuk Nazran Mohd Sham informed High Court judge Datuk Duncan Sikodol that the remaining two accused are still considering whether to submit similar representations. The eight who submitted representations are Josepin J. Langkan, Leong Hin Ping, Vireonis Jonok, Hasran Magin, Subramaniam Thangavelu, Sugumaran K. Ponniah, Mazlani Jenuary and Nasir Abdul Rasid. The other two — Iren Chin Nyuk Thien and Christina @ Caroline Pianus Etip — have yet to decide. All ten were charged under Section 130V(1) of the Penal Code for allegedly being part of an organised criminal group that committed serious offences for material gain between April 26 and July 10, 2024 at an MBSB branch here. They face five to 20 years in prison if convicted. The group includes a contractor, a teacher, two pensioners, two bank managers, a self-employed individual, two unemployed persons and a fisherman. Judge Duncan set May 27 and June 5 for further updates on the representations and vacated the trial dates originally scheduled for May 13 to 15.
