Latest news with #RM43.7
Malaysian Reserve
26-06-2025
- Business
- Malaysian Reserve
MBSB targets RM50b financing balance by 2026
by NURUL NAJMIN ABU BAKAR MBSB Bank Bhd is aiming to reach RM50 billion in total financing balance by 2026, underpinned by steady demand and portfolio realignment. MBSB Group CEO Rafe Haneef said the target aligns with the group's newly announced strategic plan, supported by ongoing restructuring of its loan book and introduction of new products. 'As at December 2024, our net loan book stood at around RM43 billion, after adjustments and write-offs from the RM43.7 billion recorded last year,' he said at the MBSB 55th AGM media conference. Rafe said the group remains optimistic about hitting its 2026 target, driven by enhanced offerings in both the commercial and consumer segments. He added MBSB has made notable progress in its three-year FLIGHT26 transformation plan, with 30 of 38 key programmes and 24 of 27 post-merger initiatives with Malaysian Industrial Development Finance Bhd (MIDF) successfully rolled out. 'The progress reflects strong operational integration, system upgrades and improved service efficiency,' he said. He added that FY2024 marked the first full year of MIDF's integration, contributing to a 31% revenue growth, led by a 27% rise in funded income and a 318% surge in non-funded income, excluding one-off gains from the 2023 acquisition. For FY2024, MBSB reported RM43 billion in total financing, while its current and savings account (CASA) ratio rose to 11.1%, crossing the double-digit threshold for the first time. Its cost-to-income ratio improved to 54.9%, with return on equity recorded at 4.2%. The bank also advanced its digital agenda with the upgraded MJourney platform and rollout of new solutions such as unit trust investment via iFAST, Vehicle Financing-i, WorksForMe salary solution, digital gold PrimeGold-i, and MShield takaful protection. In the commercial and SME segments, new offerings include the Retailer Dashboard, BAYO Pay platform, RM1 billion aerospace financing, and M-Property real estate financing. As part of its sustainability drive, MBSB has mobilised RM4.73 billion in green and transition financing, achieving 47% of its 2026 goal. It also recorded a 12% reduction in carbon emissions and contributed over 6,000 volunteer hours to community initiatives.
New Straits Times
25-04-2025
- Entertainment
- New Straits Times
#SHOWBIZ: Jessica Alba, Cash Warren list RM83 million estate amidst divorce
KUALA LUMPUR: American actress Jessica Alba and Cash Warren are not just closing the chapter on their marriage, but their US$19 million (RM83.2 million) Beverly Hills home. New York Daily News reported yesterday that The Honest Company co-founder, 43, and producer, 46, listed the 9,000-square-foot (836 square-metre), 7-bed, 8.5-bathroom estate for $18,995,000 (RM83.2 million). Alba and Warren purchased the property for US$10 milion (RM43.7 million) in 2017 and oversaw an 18-month remodel. The property currently boasts a gym, theatre, cabana, pool, hot tub and outdoor BBQ. Alba announced in January that she and Warren – who married in 2008 and share three children – were splitting up and would be "moving forward with love and kindness and respect for each other and will forever be family." The news came not long after Alba stepped down as The Honest Company's Chief Creative Officer in April 2024.
