Latest news with #RM21mil
The Star
27-05-2025
- Sport
- The Star
‘Everest Man' on top of the world after breaking own record
A 55-year-old Nepali climber dubbed 'Everest Man' reached the peak of the world's highest mountain for a record 31st time, more than three decades after his first summit. 'Massive congratulations to the legendary Kami Rita Sherpa (pic) on his 31st successful ascent of Everest, the highest number of ascents by anyone in history,' expedition organiser Seven Summit Treks said. 'Kami Rita Sherpa needs no introduction. He is not just a national climbing hero, but a global symbol of Everest itself.' Sherpa first stood on the top of Mount Everest in 1994 when working for a commercial expedition. He has climbed Everest almost every year since, guiding clients. Sherpa, speaking a year ago after he had climbed the 8,849m peak for the 29th and 30th times, said that he was 'just working' and did not plan on setting records. 'I am glad for the record, but records are eventually broken,' he said in May 2024. 'I am more happy that my climbs help Nepal be recognised in the world.' Seven Summit Treks said he completed the climb yesterday as the leader of an Indian army team, adding that he 'not only reached the summit himself, but also led and guided the last remaining members of the team to the top'. Another Nepali climber, Tashi Gyalzen Sherpa, 29, returned to the capital Kathmandu the same day after he made a record-breaking four summits of Everest in just 15 days, completing the last on May 23, according to 8K Expeditions. 'I feel proud, it was a very difficult task but I made it a success,' Gyalzen Sherpa said after landing in Kathmandu, where his family and mountaineering fans welcomed him. 'Earlier, many pioneers have scaled the Everest many times, but not four times in one season.' The records come as the spring climbing season nears its end. More than 500 climbers and their guides have already reached the summit of Everest since the route opened, taking advantage of brief spells of good weather, according to Nepal's tourism department. The season has so far recorded the fewest number of deaths on Everest in recent years. Two climbers, a Filipino and an Indian, have died on its high camps. Nepal has issued more than 1,100 permits for mountaineers this season, including 458 for Everest, earning more than US$5mil (RM21mil) in royalties. Nepal is home to eight of the world's 10 highest peaks. — AFP
The Star
20-05-2025
- Business
- The Star
Affin Bank cautious yet confident amid volatility
Affin Bank president and group CEO Datuk Wan Razly Abdullah PETALING JAYA: Affin Bank Bhd recorded double-digit year-on-year (y-o-y) growth in pre-tax profits to RM178.2mil for its first quarter ended March 31, 2025 (1Q25). The 23.7% increase was attributed to higher net income of RM39.4mil and a stronger share of results from associates amounting to RM21mil. 'Our 1Q25 performance reflects continued execution of the Affin Axelerate 2028 Plan, with pre-tax profits rising 23.7% y-o-y. 'This was underpinned by higher net interest income, an improved funding mix, and stronger contributions from associates,' Affin Group president and group CEO Datuk Wan Razly Abdullah said in a statement. 'Amid a persistently tight monetary environment and ongoing global macroeconomic headwinds, we continued to exercise prudent cost and credit discipline. 'While we remain cautious on the near-term outlook due to external volatility, we remain confident in our ability to navigate the landscape, supported by healthy asset quality, a well-diversified balance sheet, and disciplined execution,' he added. The bank's gross loans and financing grew 7.1% y-o-y to RM72.9bil, compared to RM68bil as of Mar 31, 2024. Customer deposits rose by 5.2% to RM75.5bil, while current account and savings account (CASA) ratio improved significantly to 32.2% as of March 31, 2025, up from 24.9% a year ago. 'Our CASA ratio surpassed financial year 2025 (FY25) target of 31%, as a result of our continued efforts to lower the group's cost of funds. 'We expect the momentum in CASA growth to snowball into lower cost of funds and net interest margin expansion,' Wan Razly said. Net interest income gained 6.4% to RM206mil, compared to RM193.7mil in the preceding financial quarter. Non-interest income came in at RM140.1mil, a slight decrease of 1.7% or RM2.4mil from RM142.5mil in the previous corresponding period. The bank said it has a strong business pipeline, which includes financial advisory services and debt capital market deals. Wan Razly highlighted Affin's recent lead role in financing of Macrovalue's acquisition of Cold Storage Singapore, adding that many more landmark deals are expected on this front. 'Our recent collaboration with MUFG Bank (M) Bhd, the fifth-largest bank in Asia, underscores our commitment to providing tailored solutions, facilitating cross-border trade and investment, and expanding our expertise in key areas, including Islamic finance, green finance, and digital transformation,' he said. 'By leveraging our deep market knowledge and MUFG's global network, we are unlocking new opportunities for our customers and business partners, helping them scale in an increasingly interconnected global economy,' he added. Meanwhile, the bank said its first international credit rating of A3 from Moody's Ratings strengthens its credit profile and elevates the group's standing in the global capital markets. 'This positions us to secure more cost-efficient US dollar funding, diversify our investor base, and unlock strategic cross-border financing opportunities that support our long-term growth trajectory,' Wan Razly said.
The Star
16-05-2025
- Business
- The Star
Acme to dispose of Penang land for RM22mil
PETALING JAYA: ACME Holdings Bhd is selling its property in Perai, Penang to Nation Robo Sdn Bhd for RM22mil cash. In a filing with Bursa Malaysia, Acme noted the leasehold industrial land and development thereon original cost of investment was RM9.2mil. It added the net book value of the property as at March 31, 2024 of RM3.75mil while the market value as appraised by Henry Butcher Malaysia (Seberang Perai) Sdn Bhd was RM21mil as of valuation date of July 23, 2024. The deal will allow Acme to book disposal gains of RM14.14mil. The sale is expected to be completed by the second half of 2025. Acme intends to use RM12mil of the sale proceeds to repay bank borrowing while another RM5.9mil will be utilised to repay trade creditors and for working capital requirements. - Bernama
The Star
14-05-2025
- The Star
Bank officers remanded five days in money laundering, bribery case
PETALING JAYA: The three bank officers caught for alleged money laundering and corruption have been remanded for five days. The three suspects were remanded at the Putrajaya Sessions Court on Wednesday (May 14). According to sources, the three were believed to have used, possessed and laundered funds from bribe payments received from three companies in 2024. "Based on early investigations, one of the three was a department head who had received bribes of over RM170,000 from three companies that had applied for five loans worth RM21mil. "The money was payment for processing and approving the loans," the source said. Four bank accounts, totalling RM268,000 have also been frozen. Several items including a laptop were also seized. Malaysian Anti-Corruption Commission (MACC) money laundering prevention division director Norhaizam Muhammad confirmed the remand. The case is being investigated under Section 41(1)(b) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001.
The Star
14-05-2025
- The Star
MACC nabs three bank officers over money laundering, graft involving over RM21mil
KUALA LUMPUR: The Malaysian Anti-Corruption Commission (MACC) arrested three bank officers from two banking institutions in Kuala Lumpur over suspected involvement in money laundering and corruption regarding loan applications valued at over RM21mil. An MACC source said that a business manger, a department head and a branch manager were suspected of owning, amending, transferring and using money from bribes received from three companies in 2024. Preliminary investigations revealed that the department head asked and received bribes of over RM170,000 from the three companies that made five loan applications totalling over RM21mil. "The bribe was for processing and approving the loans made by the companies," they said, adding that the suspects were arrested at about 4pm to 5pm at the MACC headquarters in Putrajaya when they showed up to provide their statements. The MACC also froze four accounts owned by the individual with over RM268,000 and seized three telecommunication devices and a laptop. Meanwhile, MACC money laundering prevention division director Norhaizam Muhammad confirmed the arrests when contacted, adding that the case was being investigated under Section 41(1)(b) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001. The suspects will be taken to the Putrajaya Magistrate's Court for remand application on Wednesday (May 14) morning, he said. — Bernama
