Latest news with #RM2.2bil
The Star
23-05-2025
- Business
- The Star
FBM KLCI snaps six-day losing streak to close higher
KUALA LUMPUR: The FBM KLCI snapped a six-session losing streak on Friday, closing higher despite broadly weaker regional markets. The 30-stock index increased by 8.26 points, or 0.55%, to close at 1,535.38. However, it recorded a cumulative decline of 2.32% for the full week. There were 468 gainers, 447 losers and 506 counters traded unchanged on the Bursa Malaysia. Turnover stood at 2.72 billion shares valued at RM2.2bil. Malaysian Pacific Industries rose 42 sen to RM18.42, PETRONAS Gas gained 32 sen to RM18, Sunway Construction added 26 sen to RM5.41 and Kuala Lumpur Kepong climbed 22 sen to RM19.84. Among the day's biggest decliners were Dutch Lady , down 80 sen to RM29.30, Heineken, 36 sen lower at RM27.94, YTL Power, down 21 sen to RM3.39, and LPI Capital, 20 sen lower at RM14.80. Main Market newcomer Eco-Shop Marketing, the most actively traded counter on Bursa Malaysia, closed up 6.19% or seven sen at RM1.20, with 209.16 million shares changing hands. Meanwhile, stock market data showed that foreign funds offloaded RM208 mil worth of equities on Thursday. Local institutions and retailers were net buyers at RM133 mil and RM75 mil, respectively. On the forex market, the ringgit rose 0.86% against the US dollar to 4.2367. It also gained 0.46% against the euro to 4.8043, climbed 0.22% against the pound sterling to 5.7145, and strengthened 0.48% against the Singapore dollar to 3.2927. Among the key regional markets: Japan's Nikkei 225 closed up 0.47% to 37,160.47; Hong Kong's Hang Seng Index rose 0.12% to 23,573.45; China's CSI 300 Index fell 0.81% to 3,882.27; Taiwan's Taiex declined 0.09% to 21,652.24; South Korea's Kospi closed down 0.06% to 2,592.09 and; Singapore's Straits Times Index fell 0.06% to 3,882.42 points.
The Star
16-05-2025
- Business
- The Star
Gamuda acquires 336 acres for extension of Gamuda Cove township
KUALA LUMPUR: Gamuda Bhd via its wholly-owned subsidiary Gamuda Land (T12) Sdn Bhd has proposed to acquire three parcels of land measuring about 336 acres for development as an extension of its Gamuda Cove township. In a statement, the group said it had entered into three separate sales and purchase agreements with Gagasan Ilmu Sdn Bhd for the acquisition of three parcels of leasehold land in Tanjong Duabelas in Kuala Langat, Selangor, for RM248.7mil. The lands, which are leasehold and intended for mixed development, are currently being used for agricultural activities with existing facilities. Gamuda intends to pay for the acquisition with cash funded from internally generated funds. It said the proposed acquisition is expected to be completed by the second quarter of 2026. The proposed development project has a gross development value of RM2.2bil and a duration of 11 years.
The Star
06-05-2025
- Business
- The Star
UOB Malaysia FY24 showing improves
UOB Malaysia registered steady growth across all income streams. PETALING JAYA: UOB Malaysia has posted a 15.9% year-on-year increase in pre-tax profit to an all-time high of RM2.2bil on the back of 2.3% growth in net operating income to RM4.7bil for the financial year ended 2024 (FY24). It registered steady growth across all income streams, including net interest income, Islamic banking, net foreign exchange gains and fees and commissions. It also reported a decrease in total expenses by RM22mil due to disciplined cost management and a significant 52.1% decline in total allowances for expected credit losses to RM159mil on improved asset quality and lower provisions for both impaired and non-impaired assets. 'This achievement reflects the strength of our diversified business model, supported by prudent risk management, disciplined cost control and solid performance across our core businesses,' said UOB Malaysia chief executive officer Ng Wei Wei in a statement. Ng reported the bank's wholesale banking business delivered double-digit growth in both sustainable financing and trade loans. In 2024, UOB Malaysia's gross loans, advances and financing grew 2.1% to RM109.5bil.
The Star
06-05-2025
- Business
- The Star
UOB Malaysia posts record RM2.2bil pre-tax profit in FY24
KUALA LUMPUR: UOB Malaysia posted a 15.9% year-on-year (y-o-y) increase in pre-tax profit to an all-time high of RM2.2bil on the back of 2.3% growth in net operating income to RM4.7bil for the financial year ended 2024. According to the bank, it registered steady growth across all income streams, including net interest income, Islamic banking, net foreign exchange gains and fees and commissions. It also reported a decrease in total expenses to RM22mil due to disciplined cost management, and a significant 52.1% decline in total allowances for expected credit losses to RM159mil on improved asset quality and lower provisions for both impaired and non-impaired assets. "This achievement reflects the strength of our diversified business model, supported by prudent risk management, disciplined cost control and solid performance across our core businesses," said UOB Malaysia CEO Ng Wei Wei in a statement. Ng reported the bank's wholesale banking businessed delivered double-digit growth in both sustainable financing and trade loans. She added that global market income also grew strongly while the expanded retail franchise saw strong momentum in the credit card and wealth management business following the integration of Citigroup's consumer banking business. In 2024, UOB Malaysia's gross loans, advances and financing grew 2.1% to RM109.5bil, supported by steady growth across both its wholesale and retail segments. It also registered a higher current account-savings account (Casa) ratio of more than 44%.
