Latest news with #RM4.7bil
The Star
23-05-2025
- Politics
- The Star
Seoul denies talks with US on potential troop pullout
THE defence ministry said there have been no talks with Washington on pulling US troops from the South, after a Wall Street Journal report claimed Washington was considering a partial withdrawal. Citing US defence officials, the Wall Street Journal report yesterday said Washington is considering whether to move around 4,500 troops out of South Korea and deploy them to other locations, including Guam. Washington, South Korea's long-time key security ally, stations around 28,500 troops in the South to help protect it against the nuclear-armed North Korea. But US President Donald Trump said last year – before winning the election – that if he returned to the White House, Seoul would pay billions more annually to host American troops. When asked about the Wall Street Journal report, Seoul's defence ministry said: 'There has been no discussion whatsoever between South Korea and the United States regarding the withdrawal of the United States Forces Korea'. The allies last year signed a new five-year agreement on sharing the cost of stationing US troops in South Korea, with Seoul agreeing to raise its contribution by 8.3% to 1.52 trillion won (RM4.7bil) for 2026. 'US Forces Korea have served as a key component of the South Korea-US alliance, maintaining a strong combined defence posture with our military to deter North Korean aggression and provocations,' Seoul's defence ministry said, adding that this contributed to 'peace and stability on the Korean Peninsula and in the region'. 'We will continue close cooperation with the United States to further strengthen this role going forward.' — AFP
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%.
