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BusinessToday
21-05-2025
- Business
- BusinessToday
Solid Start For Public Bank With Revenue Of RM7.3 Billion And Profit Of RM1.7 Billion
Public Bank Group announced its financial performance for the first quarter ended 31 March 2025, with pre-tax profit reaching RM2.31 billion, an 8.5% increase compared to the same period in 2024. The Group's net profit also saw growth, rising by 5.6% to RM1.75 billion. The Group's net interest and financing income increased by 3.5% to RM2.80 billion, supported by a stable net interest margin and growth in loans and deposits. Non-interest income showed a stronger increase, rising by 18.9% to RM772.1 million. Key financial indicators reported by Public Bank include: Total loans and deposits expanded at annualised growth rates of 5.6% and 3.5%, respectively. Net return on equity was 12.4%. Cost-to-income ratio stood at 35.0%. Gross impaired loans ratio was 0.5%. Loan-to-fund and equity ratio was 83.9%. Common Equity Tier 1 capital ratio was 14.0%, and the total capital ratio was 16.8%. On prospects, the banking group acknowledged concerns about potential disruptions to international trade due to reciprocal tariffs announced by the United States. While a 90-day pause has been implemented, uncertainties remain about the long-term impact on global growth. The bank noted that Malaysia, being an open economy and a key trade partner to the US, is susceptible to these trade tensions. However, it also pointed to supportive domestic measures such as wage hikes, ongoing infrastructure projects, a stable employment market, and a diversified economic structure, which are expected to mitigate some of the downside risks. Tan Sri Tay, in the statement, emphasised the Public Bank Group's commitment to maintaining long-term resilience and sustainable growth. The Group plans to focus on its core competencies, capitalize on emerging opportunities and support customers in adapting to the evolving economic landscape Related
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.
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Rakyat Post
09-05-2025
- Business
- Rakyat Post
[Watch] From RM2 Dreams To Billions: The Humble Rise Of Malaysia's Next Retail Titan
Subscribe to our FREE One man's vision of making everyday essentials affordable for all Malaysians is about to make him the nation's newest billionaire. Dato' Sri Lee Kar Whatt, the 52-year-old founder of Eco-Shop, is poised for a remarkable milestone as his company prepares for its From its modest beginnings in Jementah, Johor in 2003, Eco-Shop has grown into a retail phenomenon with 358 stores nationwide. The secret? A simple promise to keep prices accessible—most items cost just RM2.60 in Peninsula Malaysia and RM2.80 in East Malaysia. This commitment to affordability has resonated deeply with Malaysian families, turning shopping trips into opportunities for smart savings. Values Over Valuations: A Billionaire's Blueprint for Community Impact Lee's approach to business reflects a deeper understanding of community needs. Despite the company's impressive RM1 billion in annual sales, he has maintained focus on serving ordinary Malaysians. His recent Through the Eco-Shop's upcoming IPO, expected to value it at RM7 billion, isn't just about creating wealth—it's about expanding the company's ability to serve more communities and create positive change. (Video: New Billionaire, New Business Model: The Eco-Shop Difference As Lee prepares to join Malaysia's billionaire ranks with an estimated net worth of RM4.7 billion (US$1.09 billion as of May 2025), he would still fall short of entering the current top 10, where His net worth would place him somewhere between the However, his net worth is still less than half that of the current 10th-ranked position. In an era of rising living costs, Eco-Shop's mission to This approach differs from other retail players in the top 10, such as Beyond Wealth: A Legacy Built on Serving Millions The upcoming IPO isn't just a financial milestone—it's a testament to how serving community needs with integrity can build successful businesses and meaningful legacies. In a landscape where 30 of Malaysia's 50 wealthiest individuals have grown richer in the past year, Lee's rise stands out for its foundation in social impact rather than just wealth accumulation. As Malaysia welcomes its newest billionaire into a club that includes titans like His story adds a new dimension to Malaysia's billionaire narrative—one in which accessibility and affordability drive both business success and social progress. Mesti korang pun tertanya-tanyakan IPO Ecoshop ni patuh syariah ke tak. Meh Daus jawab — DausDK (@dausdkofficial) READ MORE : Share your thoughts with us via TRP's . Get more stories like this to your inbox by signing up for our newsletter.
Daily Express
07-05-2025
- Automotive
- Daily Express
Ron97, diesel prices down eight sen in peninsula
Published on: Wednesday, May 07, 2025 Published on: Wed, May 07, 2025 By: Bernama Text Size: For illustrative purposes only. KUALA LUMPUR: The retail prices of Ron97 petrol and diesel in Peninsular Malaysia have been reduced by eight sen, now set at RM3.10 and RM2.80 per litre, respectively, for May 8-14. Ministry of Finance (MOF) in a statement today said, the retail price of Ron95 petrol remains unchanged at RM2.05 per litre, while diesel prices in Sabah, Sarawak and Labuan also remain at RM2.15 per litre. The ministry explained that the prices were based on the weekly retail pricing of petroleum products, calculated using the Automatic Pricing Mechanism (APM) formula. 'The government continues to monitor market developments and adjust the Ron97 and diesel fuel's retail prices based on global oil market fluctuations, whilst supporting price stability,' the statement read. It added that the government would also take appropriate measures to safeguard the welfare and well-being of the people. * 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
