Latest news with #RM1.65
New Straits Times
21-05-2025
- Business
- New Straits Times
Public Bank posts strong Q1 results with 5.6pct rise in profit to RM1.75bil
KUALA LUMPUR: Public Bank Bhd's net profit rose 5.6 per cent to RM1.75 billion in the first quarter (Q1) ended March 31, 2025, from RM1.65 billion a year ago. In a statement, the group said its revenue rose 9.9 per cent to RM7.31 billion in the quarter from RM6.65 billion last year supported by healthy loans and customer deposits growth. "Supported by a stable net interest margin as well as healthy loan and deposit growth, the group's net interest and financing income improved by 3.5 per cent to RM2.80 billion. "Non-interest income increased by 18.9 per cent to RM772.1 million compared with the corresponding period last year," it said. Meanwhile, Public Bank said the group continued to maintain sound asset quality, as reflected in its low gross impaired loans ratio of 0.5 per cent as at end-March 2025. Loan loss coverage, standing at 159.9 per cent, continued to provide an ample buffer against potential credit losses, it said. Public Bank managing director and chief executive officer Tan Seri Tay Ah Lek said despite prevailing challenges in the operating environment, the group's latest financial performance reflects the resilience and strength of its fundamentals. "Prudent cost management yielded an efficient cost income ratio of 35.0 per cent, coupled with continued top-line growth, and return on equity stood at 12.4 per cent," Tay said. The Public Bank Group recorded total loans of RM430.1 billion as at March 2025, which marked a 5.6 per cent annualised loan growth for the first quarter of 2025. Domestically, the group's loan portfolios grew by 6.3 per cent to RM403.9 billion on an annualised basis. On its asset quality, Public Bank continued to demonstrate asset quality resilience, with a healthy gross impaired loans ratio of 0.5, as at end-March 2025. The Public Bank Group's capital position remained healthy and stable. The group's common equity tier 1, tier 1, and total capital ratios stood at 14.0 per cent, 14.1 per cent, and 16.8 per cent, respectively, as at the end of March 2025. On prospect, Tay said as the Public Bank Group continues to navigate an evolving global and domestic landscape, the group remains steadfast in fostering long-term resilience and sustainable growth. "We will continue to build on our core competencies, seize emerging opportunities, and support our customers to adapt to the fast-changing landscape. "By staying agile and forward-looking, we strive to continually deliver sustainable value to all of our stakeholders," he added.
Malaysiakini
07-05-2025
- Malaysiakini
MACC nabs company director over RM1.65mln false claim for project
A construction company director with a 'Datuk' title has been arrested by the MACC for allegedly submitting documents containing false details involving RM1.65 million in connection with the RM162 million Civil Servants Housing project in Perak. According to a source, the man in his 60s was arrested at about 5.15pm yesterday when he turned up to give his statement at the MACC headquarters...
The Sun
07-05-2025
- The Sun
Company director held over RM1.65m false claim for PPAM project
PUTRAJAYA: A construction company director with a Datuk title has been arrested by the Malaysian Anti-Corruption Commission (MACC) for allegedly submitting documents containing false details involving RM1.65 million in connection with the RM162 million Civil Servants Housing (PPAM) project in Perak. According to a source, the man in his 60s was arrested at about 5.15 pm yesterday when he turned up to give his statement at the MACC headquarters here. 'The suspect is believed to have committed the offence in March 2025 by submitting documents with false details to the bank to withdraw about RM1.6 million from a RM69 million financing facility for the project,' said the source. The man has been remanded for five days until May 11 after Magistrate Siti Roslizawati Mohd Zanin allowed the MACC's application at the Putrajaya Magistrate's Court today. MACC Investigation Division senior director Datuk Zainul Darus, when contacted, confirmed the arrest and said the case was being investigated under Section 18 of the MACC Act 2009.
New Straits Times
07-05-2025
- New Straits Times
Developer's director held over RM1.6mil false claim in Perak housing project
KUALA LUMPUR: A developer company director, who holds the title 'Datuk', has been arrested by the Malaysian Anti-Corruption Commission (MACC) on suspicion of submitting false documents involving RM1.65 million linked to the RM162 million Civil Servants Housing Project in Perak. Sources said the suspect, in his 60s, was detained at about 5.15pm yesterday after presenting himself at the MACC headquarters in Putrajaya to have his statement recorded. "The alleged offence occurred in March, when the suspect is believed to have submitted falsified documents to a bank to facilitate the withdrawal of RM1.65 million. "The sum was part of a RM69 million financing facility extended for the project," the source said. MACC Investigation Division senior director Datuk Zainul Darus confirmed the arrest, adding that the case is being investigated under Section 18 of the MACC Act 2009, which pertains to the submission of false claims or documents. This morning, magistrate Siti Roslizawati Mohd Zanin granted a five-day remand order against the suspect, effective until May 11, following an application by MACC at the Putrajaya magistrate's court.
