Latest news with #RM516
New Straits Times
2 days ago
- Business
- New Straits Times
AmBank's Q1 earnings up 3.0pct to RM516mil, revenue rises 9.5pct to RM1.29bil
KUALA LUMPUR: AMMB Holdings Bhd (AmBank Group) posted a three per cent earnings increase in the first quarter driven by strong income growth. The bank's net profit in the quarter ended June 30, 2025 rose to RM516 million from RM500 million in the same period last year. AmBank's group revenue climbed 9.5 per cent to RM1.29 billion from RM1.18 billion last year. AmBank group chief executive officer Jamie Ling said it delivered a solid set of results, with income growth underpinned by an improvement in net interest margin (NIM). "Capital position strengthened further and liquidity remains ample. Overall, a satisfactory first quarter performance, delivered in more volatile market conditions," he said in a statement. Ling added that the overnight policy ratereduction will have some impact on NIM in the near term. "As our economy adjusts to the 19 per cent tariff imposed on most Malaysian exports to the US, we are confident that economic growth will remain resilient," he added. AmBank's net income grew 9.5 per cent to RM1.29 billion, driven by higher net interest income (NII) on the back of strong NIM expansion and higher non-interest income (NoII). Its NII grew 7.4 per cent to RM924.7 million, lifted by a 12-basis point (bps) expansion in NIM to 2.01 per cent. Meanwhile, NoII grew 15.2 per cent to RM366 million, driven by higher trading gains in group treasury and markets (GTM) as well as higher fees earned in business banking and wholesale banking. Annualised return on equity (ROE) at 10 per cent while return on assets (ROA) improved to 1.05 per cent However, investment banking and wealth management segments faced challenges amid cautious investor sentiment, resulting in lower fee income. Its net impairment charges were higher at RM72.4 million, mainly attributable to higher Stage 3 provisions and lower writeback of forward-looking provision. AmBank's loans, advances and financing fell a marginal 0.5 per cent year-to-date to RM138.2 billion Its gross impaired loans (GIL) ratio was higher at 1.71 per cent, with loan loss coverage (LLC) ratio of 100.1 per cent, including regulatory reserves. So far this year, the group's customer deposits fell 2.5 per cent to RM138 billion and time deposits grew 0.6 per cent to RM91.1 billion. Its current account and savings account (CASA) balances fell 8.1 per cent to RM46.9 billion, giving a CASA mix of 34.0 per cent. "Liquidity is healthy and ample as liquidity coverage ratio (LCR) for all entities were above 160 per cent," it said. The bank's common equity tier 1 capital ratio stood at 14.90 per cent, with total capital ratio at 17.68 per cent.
Barnama
16-06-2025
- Barnama
Sepang Police Raid Five Premises Suspected Of Conducting Illegal Bitcoin Mining Activities
SEPANG, June 16 (Bernama) -- Police raided five premises suspected of conducting illegal Bitcoin mining activities during a special operation on the cryptocurrency mining machines here last Friday. Sepang district police chief ACP Norhizam Bahaman said five separate teams conducted the raids simultaneously, between 10 am and 7 pm, on three premises in Bandar Baru Salak Tinggi and two in Putra Perdana. He said the investigation was initiated by him a few months ago in addition to complaints from the public. The special operation also involved a special team from the Tenaga Nasional Bhd (TNB) headquarters in Bangsar, Kuala Lumpur. Preliminary investigations found that each premises could generate profits of around RM15,000 to RM20,000 per month through illegal bitcoin mining. "We were informed that a syndicate had stolen electricity supply to carry out the Bitcoin mining activities, with losses to TNB amounting to RM86,089 a month,' he said in a press conference here today. He said the total losses incurred by TNB in the Sepang area from January to this month are estimated to be around RM516,534. Norhizam said that as a result of the raids, 143 Bitcoin mining machines and items used for that activity, worth more than RM171,600, were seized. The police have arrested four local men, aged between 20 and 40 years old, who acted as guards of the premises, on one of the premises in Putra Perdana.
New Straits Times
02-05-2025
- Business
- New Straits Times
Eco World International jumps 21pct after move to scrap tie-up with EcoWorld Malaysia
KUALA LUMPUR: Shares of Eco World International Bhd surged as much as 20.9 per cent in early trade today after the company announced it was ending a long-standing collaboration with Eco World Development Group Bhd (EcoWorld Malaysia). At 10.30am, the stock jumped 4.5 sen to 26 sen with nearly 10 million shares traded. This brought its market capitalisation to RM516 million. While the counter is down 3.7 per cent year-to-date, it has rallied 30 per cent over the past week. EcoWorld Malaysia also edged up, gaining one sen or 0.53 per cent to RM1.89. On Wednesday, Eco World International proposed to terminate a 2016 agreement with EcoWorld Malaysia that restricted both companies from operating in each other's markets. Under the agreement, Eco World International was barred from undertaking property development in Malaysia, while EcoWorld Malaysia was limited to domestic projects unless carried out through the former. The decision follows mounting challenges in Eco World International's key overseas markets, namely the United Kingdom and Australia. The move would also see Eco World International change its name to EWI Capital Bhd.
