Latest news with #RM2.49
Barnama
3 days ago
- Business
- Barnama
MISC Shares Down On Weaker 1Q FY2025 Results
BUSINESS KUALA LUMPUR, May 29 (Bernama) -- MISC Bhd's shares fell in early trade after its net profit for the first quarter ended March 31, 2025 (1Q FY2025) dropped year-on-year on the back of lower revenue for the quarter. At 9.44 am, MISC slipped two sen to RM7.51, with 48,900 shares transacted. In a filing with Bursa Malaysia yesterday, MISC's net profit eased to RM705.70 million in 1Q from RM759.90 million a year earlier, while revenue declined to RM2.82 billion against RM3.64 billion. The lower revenue was primarily weighed down by lower revenue from the marine and heavy engineering segment by 54.0 per cent, it said. Despite the weaker performance, Hong Leong Investment Bank Bhd (HLIB) and CIMB Securities Sdn Bhd maintained their buy calls on a positive earnings outlook. HLIB said despite a dismal outlook in MISC's gas segment, it still expects group earnings growth in FY2025 to be driven by the petroleum division and offshore business. 'Our FY2025/2026 profit forecasts are adjusted slightly by -0.3 per cent/-3.7 per cent. We also introduce FY207 earnings forecast at RM2.49 billion,' it said in a note today. CIMB Securities said it expects earnings to normalise in the following quarters, in the absence of the one-time gain from floating production storage and offloading (FPSO) vessel Bunga Kertas. 'A dividend per share of eight sen was declared, in line with our forecast.
Daily Express
5 days ago
- Business
- Daily Express
Maybank profit at RM2.49 billion driven by corporate banking
Published on: Tuesday, May 27, 2025 Published on: Tue, May 27, 2025 By: Bernama Text Size: Maybank will also seek to maintain sound liquidity, robust asset quality, and strong capital levels to support disciplined asset growth. Kuala Lumpur: Malayan Banking Bhd (Maybank) net profit has risen to RM2.59 billion in the first quarter ended on March 31, 2025 (1Q FY2025) from RM2.49 billion a year ago, driven by the group's corporate banking and global markets segment. Revenue for the quarter under review fell to RM16.87 billion versus RM18.35 billion previously, it said in a Bursa Malaysia filing on Monday. The group's net interest income and Islamic banking income for the quarter under review increased by RM42.2 million or 0.8 per cent to RM5,286.6 million versus a year ago. Its group insurance/takaful service rose by RM289.3 million to RM471.4 million compared to 1Q FY2024. Maybank said the group's other operating income was RM2.09 billion, a decrease of RM768.5 million, or 26.8 per cent, from RM2.87 billion previoulsy due to unrealised loss on revaluation of financial investments at fair value through profit or loss (FVTPL) of RM765.6 million versus unrealised gain of RM761.1 million a year ago. 'The losses were also driven by unrealised loss on revaluation of financial liabilities at FVTPL of RM374.6 million from RM995.5 million previously, and lower investment income of RM161.3 million. Advertisement 'The decreases were mitigated by unrealised gain on revaluation of derivatives of RM816.0 million from RM1.14 billion previously, and higher foreign exchange gain of RM498.9 million. On prospects, the group will continue to double down on penetration of its extensive customer base through focus on segments, cross-selling endeavours and leveraging ecosystem partnerships regionally. 'We will also focus on super growth areas of wealth management, mid-market cap, non-retail and bancassurance segments whilst tapping into global market flows,' it said. Maybank will also seek to maintain sound liquidity, robust asset quality, and strong capital levels to support disciplined asset growth. 'The volatility and uncertainty surrounding potential trade disruptions, however, may have an impact on the growth and performance of the group, as a result of slower economic growth, a 'wait-and-see' stance in investments and capital raising activities, and from financial markets' volatility,' it added. No interim dividend was recommended for 1Q FY2025. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * 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
Malaysian Reserve
6 days ago
- Business
- Malaysian Reserve
Maybank 1Q net profit up 4% to RM2.6b despite softer operating income
MALAYAN Banking Bhd (Maybank) saw a 4% increase in net profit to RM2.59 billion for the first quarter ended March 31, 2025 (1Q25), up from RM2.49 billion in the same quarter a year ago, bolstered by stronger insurance and takaful operations, steady loan growth and improved asset quality. The upbeat result came despite operating income and unrealised investment losses amid continued financial market volatility. Revenue for the quarter declined to RM16.87 billion from RM18.35 billion a year earlier, the group said in a filing with Bursa Malaysia today. The banking group said net interest income and Islamic banking income grew marginally by 0.8% to RM5.29 billion in 1Q25 from RM5.24 billion previously. Its insurance and takaful business delivered a standout performance, surging 159% to RM471.4 million compared to RM182.1 million a year earlier. However, Maybank's other operating income declined 26.8% year-on-year to RM2.1 billion, mainly due to unrealised mark-to-market losses on financial instruments at fair value through profit or loss (FVTPL), totaling RM1.14 billion, versus gains of RM1.76 billion in the corresponding quarter of FY24. This was partially cushioned by higher foreign exchange gains and derivative revaluation gains. Group overhead expenses rose 2.3% to RM3.74 billion, largely on increased personnel, marketing and establishment costs. On the positive side, loan-related impairment allowances dropped 17.9% to RM384.2 million, while impairment on financial investments fell sharply by 68.8% to RM22.1 million, reflecting improved credit quality across the portfolio. Across business segments, Maybank's Community Financial Services (CFS) division recorded a 5.5% rise in profit before tax and zakat (PBTZ) to RM1.48 billion, supported by lower impairment losses and higher operating income. Corporate Banking and Global Markets PBTZ jumped 13.7% to RM1.68 billion, while Group Asset Management returned to the black with a marginal profit of RM124,500. However, Investment Banking PBTZ declined 37.7% to RM74.7 million due to higher overheads and weaker trading income. On outlook, Maybank cautioned that economic growth across its key Asean markets is expected to moderate in 2025 due to global trade uncertainties, particularly the potential imposition of reciprocal tariffs between major economies. In a separate statement, its president & group CEO, Datuk Khairussaleh Ramli said the global economic outlook remains uncertain. 'Nevertheless, we expect continued growth in the markets that we operate. Key to us is to support our clients especially those in need during this challenging period. At the same time, we continue to strengthen our position across Asean, capitalising on intra-Asean and Asean+ opportunities, particularly in trade, investment and cross-border connectivity.' Despite the macroeconomic headwinds, the group said it remains committed to delivering its final-year targets under the M25+ strategic plan, with a strong focus on customer centricity, digital transformation and growth in high-potential segments such as wealth management, mid-cap corporates and bancassurance. Maybank added that it will maintain a prudent stance on liquidity, capital and asset quality, while closely monitoring trade-related risks that may impact lending activity and capital market flows. — TMR
New Straits Times
6 days ago
- Business
- New Straits Times
Maybank net profit at RM2.6bil, driven by corporate banking
KUALA LUMPUR: Malayan Banking Bhd (Maybank) net profit has risen to RM2.59 billion in the first quarter ended on March 31, 2025 (1Q FY2025) from RM2.49 billion a year ago, driven by the group's corporate banking and global markets segment. Revenue for the quarter under review fell to RM16.87 billion versus RM18.35 billion previously, it said in a Bursa Malaysia filing today. The group's net interest income and Islamic banking income for the quarter under review increased by RM42.2 million or 0.8 per cent to RM5,286.6 million versus a year ago. Its group insurance/takaful service rose by RM289.3 million to RM471.4 million compared to 1Q FY2024. Maybank said the group's other operating income was RM2.09 billion, a decrease of RM768.5 million, or 26.8 per cent, from RM2.87 billion previously due to unrealised loss on revaluation of financial investments at fair value through profit or loss (FVTPL) of RM765.6 million versus unrealised gain of RM761.1 million a year ago. "The losses were also driven by unrealised loss on revaluation of financial liabilities at FVTPL of RM374.6 million from RM995.5 million previously, and lower investment income of RM161.3 million. "The decreases were mitigated by unrealised gain on revaluation of derivatives of RM816.0 million from RM1.14 billion previously, and higher foreign exchange gain of RM498.9 million. On prospects, the group will continue to double down on penetration of its extensive customer base through focus on segments, cross-selling endeavours and leveraging ecosystem partnerships regionally. "We will also focus on super growth areas of wealth management, mid-market cap, non-retail and bancassurance segments whilst tapping into global market flows," it said. Maybank will also seek to maintain sound liquidity, robust asset quality, and strong capital levels to support disciplined asset growth. "The volatility and uncertainty surrounding potential trade disruptions, however, may have an impact on the growth and performance of the group, as a result of slower economic growth, a 'wait-and-see' stance in investments and capital raising activities, and from financial markets' volatility," it added. No interim dividend was recommended for 1Q FY2025. In a separate statement, Maybank president and group chief executive officer Datuk Khairussaleh Ramli said the bank has continued to deliver commendable earnings growth for 1Q FY2025 underpinned by stable net interest margins, better asset quality and disciplined cost management, despite ongoing global macroeconomic headwinds. He said the group remains resilient, supported by a focused business strategy and disciplined execution in efforts to meet the evolving customer needs. "The global economic outlook remains uncertain. Nevertheless, we expect continued growth in the markets that we operate. Key to us is to support our clients, especially those in need, during this challenging period. "At the same time, we continue to strengthen our position across ASEAN, capitalising on intra-ASEAN and ASEAN+ opportunities, particularly in trade, investment and cross-border connectivity," he said. Khairussaleh said Maybank's focus on completing its corporate strategy known as M25+ remains steadfast, as it continues to drive meaningful progress on its strategic thrusts — strengthening the bank's core, accelerating digital transformation and embedding sustainability. "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.
