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New Straits Times
3 days ago
- Business
- New Straits Times
RHB Bank's 1Q profit rises to RM750.03mil
KUALA LUMPUR: RHB Bank Bhd posted a higher net profit of RM750.03 million for the first quarter ended March 31, 2025 (1Q 2025) compared with RM730.17 million in the same period last year. The year-on-year (y-o-y) improvement was mainly due to higher net funding income and lower allowances for credit losses, offset by lower non-fund-based income, higher tax expense, higher operating expenses and higher share of loss in associates. Revenue, however, slid to RM4.39 billion from RM4.40 billion in 1Q 2024. In a filing with Bursa Malaysia today, RHB Bank said net fund-based income increased by 7.3 per cent to RM1.48 billion y-o-y on the back of gross loans and financing growth of 6.3 per cent. It added that the group's gross loans and financing grew by 6.3 per cent y-o-y to RM239.2 billion, mainly supported by growth in mortgage, corporate, commercial and auto finance. RHB Banking Group's group managing director and group chief executive officer, Datuk Mohd Rashid Mohamad, said the company sustained its earnings growth momentum in the first quarter, underpinned by solid fundamentals and early traction from the group's three-year PROGRESS27 strategic roadmap. "Our cost optimisation efforts are beginning to deliver results, enabling us to contain expenses while driving growth in key segments. "At the same time, our continued focus on asset quality has led to a reduction in credit cost. We remained disciplined in execution, strengthening our core capabilities, driving operational excellence, and unlocking new growth opportunities," he said. On outlook, the group maintained a cautious stance amidst evolving macroeconomic conditions shaped by interest rate movements and global trade dynamics. "The recent reduction in the statutory reserve requirement by Bank Negara Malaysia is expected to provide funding flexibility in the quarters ahead. "With focused execution priorities, from simplifying customer journeys to advancing our sustainability ambitions, we are well-positioned to deliver near-term value while unlocking long-term value for all stakeholders," he added.
Yahoo
24-05-2025
- Business
- Yahoo
Public Bank Berhad Earnings Missed Analyst Estimates: Here's What Analysts Are Forecasting Now
Last week, you might have seen that Public Bank Berhad (KLSE:PBBANK) released its first-quarter result to the market. The early response was not positive, with shares down 2.2% to RM4.40 in the past week. Revenues of RM3.6b were in line with forecasts, although statutory earnings per share (EPS) came in below expectations at RM0.09, missing estimates by 5.3%. The analysts typically update their forecasts at each earnings report, and we can judge from their estimates whether their view of the company has changed or if there are any new concerns to be aware of. We've gathered the most recent statutory forecasts to see whether the analysts have changed their earnings models, following these results. This technology could replace computers: discover the 20 stocks are working to make quantum computing a reality. After the latest results, the 17 analysts covering Public Bank Berhad are now predicting revenues of RM14.7b in 2025. If met, this would reflect a satisfactory 3.0% improvement in revenue compared to the last 12 months. Statutory per-share earnings are expected to be RM0.38, roughly flat on the last 12 months. In the lead-up to this report, the analysts had been modelling revenues of RM14.9b and earnings per share (EPS) of RM0.39 in 2025. So it's pretty clear that, although the analysts have updated their estimates, there's been no major change in expectations for the business following the latest results. Check out our latest analysis for Public Bank Berhad The analysts reconfirmed their price target of RM5.06, showing that the business is executing well and in line with expectations. Fixating on a single price target can be unwise though, since the consensus target is effectively the average of analyst price targets. As a result, some investors like to look at the range of estimates to see if there are any diverging opinions on the company's valuation. The most optimistic Public Bank Berhad analyst has a price target of RM5.77 per share, while the most pessimistic values it at RM4.40. Even so, with a relatively close grouping of estimates, it looks like the analysts are quite confident in their valuations, suggesting Public Bank Berhad is an easy business to forecast or the the analysts are all using similar assumptions. Taking a look at the bigger picture now, one of the ways we can understand these forecasts is to see how they compare to both past performance and industry growth estimates. We would highlight that Public Bank Berhad's revenue growth is expected to slow, with the forecast 4.1% annualised growth rate until the end of 2025 being well below the historical 6.8% p.a. growth over the last five years. By way of comparison, the other companies in this industry with analyst coverage are forecast to grow their revenue at 6.1% per year. Factoring in the forecast slowdown in growth, it seems obvious that Public Bank Berhad is also expected to grow slower than other industry participants. The most obvious conclusion is that there's been no major change in the business' prospects in recent times, with the analysts holding their earnings forecasts steady, in line with previous estimates. Fortunately, the analysts also reconfirmed their revenue estimates, suggesting that it's tracking in line with expectations. Although our data does suggest that Public Bank Berhad's revenue is expected to perform worse than the wider industry. There was no real change to the consensus price target, suggesting that the intrinsic value of the business has not undergone any major changes with the latest estimates. With that in mind, we wouldn't be too quick to come to a conclusion on Public Bank Berhad. Long-term earnings power is much more important than next year's profits. We have forecasts for Public Bank Berhad going out to 2027, and you can see them free on our platform here. We don't want to rain on the parade too much, but we did also find 1 warning sign for Public Bank Berhad that you need to be mindful of. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio
New Straits Times
23-05-2025
- Business
- New Straits Times
Bursa Malaysia snaps 6-day losing streak, CI up on bargain hunting
KUALA LUMPUR: The FTSE Bursa Malaysia KLCI (FBM KLCI) snapped a six-day losing streak to close the week higher as bargain-hunting emerged due to improved risk sentiment. At 5 pm, the FBM KLCI rose 8.36 points, or 0.55 per cent, to 1,535.38 from Thursday's close of 1,527.02. The benchmark index, which opened 4.91 points higher at 1,531.93, fluctuated between 1,531.76 and 1,536.75 throughout the day. In the broader market, gainers beat losers 468 to 447, while 506 counters were unchanged, 998 untraded, and 41 suspended. Turnover fell slightly to 2.72 billion units worth RM2.17 billion compared with Thursday's 2.78 billion units worth RM2.15 billion. UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said the FBM KLCI reversed six days of losses, staging a broad-based recovery that began in the morning session and was sustained throughout the day. He added that improved risk sentiment, coupled with a pullback in US Treasury yields, spurred bargain-hunting across selected large-cap stocks. "Notably, the easing in bond yields after a strong spike provided relief to rate-sensitive sectors, particularly local banking stocks, which led gains on the day. As a result, we observed a meaningful rebound in both the financial sector index and key banking counters, contributing positively to the overall index performance," he told Bernama. Among heavyweights, Maybank rose 6.0 sen to RM9.88, Public Bank jumped 10 sen to RM4.40, CIMB went up 9.0 sen to RM6.94, IHH Healthcare gained 2.0 sen to RM6.90, Tenaga Nasional was flat at RM14, and YTL Power shed 21 sen to RM3.39. For active stocks, Main Market debutant Eco-Shop advanced 7.0 sen to RM1.20, MYEG and Tanco both increased 2.5 sen to 92 sen and 97.5 sen, respectively, Aizo was flat at 8.5 sen, and Barakah Offshore declined 2.5 sen to half-a-sen.
New Straits Times
08-05-2025
- Business
- New Straits Times
RHB Research cuts CelcomDigi forecast on delayed integration, rising opex
KUALA LUMPUR: CelcomDigi Bhd's network integration timeline is now expected to be pushed to the second half of 2025 (2H25), delayed from its initial target of mid-2025, following changes in Digital Nasional Bhd's (DNB) operating model. The revised model is expected to affect the remaining 25 per cent of sites pending integration. "CelcomDigi believes the mobile network operators (MNOs) or shareholders to come to a landing soon with DNB that would result in a revised wholesale framework. "This is as 5G traffic would be shared with U Mobile as the second 5G infrastructure provider," said RHB Investment Bank Bhd (RHB Research) in a note. While no discussion has taken place with the latter, the firm said CelcomDigi acknowledged that a fresh wholesale agreement inked going forward would be commercially-driven. "We understand the existing wholesale structure allows MNOs to terminate their respective agreements within 30 days of an alternative 5G network becoming available or before Jan 2028 with prior notice given. "This suggests the earliest an MNO could do so would be in 2H26, based on U Mobile's reported rollout timeline," it said. The firm expects stronger commercial execution and realisation of merger synergies from the completion of CelcomDigi's network integration. Meanwhile, it said the bulk of CelcomDigi's capital expenditure for financial year 2025 (FY25) of between RM1.8 billion and RM2 billion will be for IT system upgrades which would translate to higher operating expenditure (opex) in the short-to-medium term. "The higher opex and accelerated depreciation charges for network assets are baked into CelcomDigi's pre-tax earnings guidance for FY25 of a low-to mid-single digit growth which also factors in higher 5G wholesale charges," said the firm. RHB Research adjusted its earnings forecasts for CelcomDigi down by 6.9 per cent and 8.8 per cent for FY25 and FY26 respectively, and an increase of 0.3 per cent in FY27, mainly to reflect higher IT integration cost. The firm maintained a 'Buy' call on the stock with a target price of RM4.40.
The Sun
24-04-2025
- Business
- The Sun
Malaysia remains 9th largest global exporter of high-tech products in 2023
CYBERJAYA: Malaysia successfully maintained its position as the ninth-largest exporter of high-technology goods out of 143 countries worldwide in 2023, the highest recognition it has achieved in the past decade. Datuk Seri Hasnol Zam Zam Ahmad, secretary-general of the Ministry of Science, Technology and Innovation (MOSTI), said that Malaysia's high-tech exports increased by US$2 billion (US$1 = RM4.40) to reach US$127 billion in 2023. He said high-tech exports comprised 58.69 per cent of total manufacturing exports in 2023, up from 52.48 per cent recorded in 2022. He also noted that the country recorded its highest trade surplus in a decade, totalling US$51.5 billion. 'Measuring the value of Malaysia's high-tech exports is not an easy task. First and foremost, the definition of 'high technology' must comply with international standards, including those set by the Organisation for Economic Co-operation and Development (OECD) and the World Bank. 'For a long time, the Malaysia Industry-Government Group for High Technology (MIGHT) has been responsible for calculating and tracking Malaysia's high-tech export performance and will continue to carry out this important role moving forward,' he said during the launch of the Malaysia High Technology Performance Report 2023 here today. The report's launch briefing was also attended by MIGHT co-chair (industry) Tan Sri Ahmad Tajuddin Ali, co-chair (government) Tan Sri Zakri Abdul Hamid, and president and chief executive officer Rushdi Abdul Rahim. Hasnol Zam Zam emphasised MOSTI's commitment to expanding and strengthening the national innovation ecosystem to ensure sustained competitiveness across all development sectors, especially in high technology. In addition to MIGHT, he mentioned that several international institutions also use high-tech export indicators as a key measure to assess a country's competitiveness and innovation capacity. Meanwhile, Rushdi noted that although the telecommunications electronics product group remained the largest contributor with US$36 billion, accounting for 80.58 per cent of total high-tech goods exports across nine subgroups, there remains significant growth potential in other categories such as scientific equipment, office machinery, electrical machinery, and aerospace surplus. However, he highlighted that these categories must be supported by a robust innovation ecosystem and effective market penetration strategies. 'Beyond directly contributing to the nation's aspiration to become a high-income, technology-based economy, this dynamic innovation ecosystem also strengthens Malaysia's position in achieving technological sovereignty, ensuring the country is not only capable of utilising but also mastering and controlling these strategic technologies,' he added.
