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New Straits Times
28-05-2025
- Business
- New Straits Times
HLB logs RM946.7mil net profit, RM1.55bil revenue in Q3
KUALA LUMPUR: Hong Leong Bank Bhd's (HLB) posted a net profit of RM946.7 million in the third quarter ended March 31, 2025 (3Q25), down from RM1.04 billion a year ago. The 9.4 per cent profit fall was mainly due to higher operating expenses of RM23.7 million, lower share of profit from associated company of RM60.0 million and dilution loss from associated company of RM407.6 million. HLB's revenue for the quarter, however, rose to RM1.55 billion from RM1.44 billion previously, the bank's filing to Bursa Malaysia showed. Its earnings per share fell to 46.18 sen compared to 50.97 sen in 3Q24. No dividend was declared for the quarter. For the first nine months of FY25 (9MFY25), HLB's net profit rose to RM3.18 billion from RM3.16 billion a year ago, while revenue for the period climbed to RM4.78 billion from RM4.29 billion. The bank's net interest income for 9MFY25 was recorded at RM3.66 billion, marking a 5.8 per cent year-on-year (YoY) increase. This was underpinned by strong loan and financing growth as well as effective funding cost management. Accordingly, its net interest margin (NIM) was up five basis points (bps) YoY to 1.90 per cent. Its non-interest income for 9MFY25 maintained the notable improvement of 34.1 per cent YoY to RM1.12 billion, driven by encouraging performance in the wealth management business and GM franchise sales alongside the higher treasury and foreign exchange gain. The bank's expenses for 9MFY25 remained at RM1.85 billion, while the cost-to-income ratio was maintained at 38.8 per cent. Meanwhile, the bank's gross loans, advances and financing grew 7.2 per cent YoY to RM201.2 billion. This was driven by expansion in our key segments of mortgage, auto loans, SME and commercial banking as well as key overseas markets. Domestic loans/financing increased 7.1 per cent YoY, ahead of the industry growth rate of 5.3 per cent. The bank remains prudent in its funding and liquidity positions to strengthen resilience and stability, with loans to deposits ratio of 87.9 per cent as at March 31, 2025. Customer deposits for 9MFY25 rose 5.9 per cent YoY to RM225.0 billion with current account savings account expanding 5.0 per cent YoY to RM68.3 billion. HLB maintained a low gross impaired loans ratio of 0.57 per cent, reflecting stable asset quality. As of March 31, 2025, its capital position remained sound, with CET1, Tier 1, and total capital ratios at 12.8 per cent, 13.7 per cent, and 15.7 per cent, respectively. HLB group managing director and chief executive officer Kevin Lam said the bank is confident that the Malaysian economy will remain resilient amid the ongoing external headwinds. "At HLB, we focus on the execution of the 3-5 Year Transformative Plan to deliver sustainable results to our stakeholders. "With that, we are pleased to announce that our business performance thus far has been commendable underpinned by solid loans/financing growth, strong non-interest income contribution and healthy asset quality," he said in a separate statement. Lam said the bank acknowledges the presence of global uncertainties, particularly those stemming from evolving tariffs policies and negotiations, as well as policy responses from major central banks that could potentially influence the final growth outcome, even as resilient domestic demand is expected to provide a buffer against external headwinds. He added that by leveraging strengths in technology and artificial intelligence (AI), HLB will create innovative banking solutions that resonate with its customer across all touchpoints, solidifying its brand promise of "Built Around You".
Yahoo
21-02-2025
- Business
- Yahoo
MN Holdings Announces Strongest-Ever Profit After Tax of RM12.7 Million in Q2 FY2025
KUALA LUMPUR, MALAYSIA / / February 20, 2025 / MN Holdings Berhad ("MN Holdings" or the "Group"), a leading infrastructure utilities construction and engineering solutions specialist in Malaysia, is pleased to announce the financial results for the second quarter ended 31 December 2024 ("Q2 FY2025") with a record Profit After Tax ("PAT") of RM12.7 million; a significant jump of 217% as compared to the same period last year. For Q2 FY2025, MN Holdings recorded a 68% increase in revenue to RM125.5 million, compared with RM74.9 million in Q2 FY2024. The underground utilities engineering segment saw revenue surge by 128% to RM60.0 million from RM26.3 million in Q2 FY2024. Meanwhile, the substation engineering segment contributed RM65.0 million, representing 52% of total revenue, marking a strong 34% growth from RM48.6 million in the corresponding quarter last year. Profit before tax ("PBT") for the quarter surged by 204% to RM17.3 million, compared to RM5.7 million a year ago, driven by enhanced project execution and higher revenue recognition. PAT jumped tripled to RM12.7 million, from RM4.0 million in the same period last year. The higher profitability was boosted by improved margins from higher value projects, despite slightly higher administrative expenses and impairment provisions. Compared to the preceding quarter ("Q1 FY2025"), MN Holding's Q2 FY2025 revenue grew by 22% from RM103.1 million to RM125.5 million. This growth was mainly attributed to the substation engineering segment, which registered a 32% increase, from RM49.1 million in Q1 FY2025 to RM65.0 million in Q2 FY2025, supported by accelerated project execution. In tandem with revenue growth, PBT improved by 75% to RM17.3 million, compared to RM9.9 million in Q1 FY2025, while PAT rose by 81% from RM7.0 million to RM12.7 million. Excluding one-off adjustments, adjusted PBT stood at RM18.8 million, reflecting a 46% increase quarter-on-quarter. The strong profitability was driven by better project margins and operational efficiency in handling large-scale infrastructure works. For the first half of the financial year ("1H FY2025"), the Group's cumulative revenue reached RM228.6 million, marking a 76% increase from RM130.1 million in the same period last year. The underground utilities engineering segment revenue expanded by 123% to RM114.5 million from RM51.4 million while the substation engineering segment generated RM114.1 million, a 45% growth from RM78.7 million in 1H FY2024. PBT for 1H FY2025 rose by 142% to RM27.2 million, from RM11.2 million in 1H FY2024, supported by higher gross profit, despite increased administrative expenses and impairment losses on financial assets. Correspondingly, PAT surged by 140% to RM19.7 million, from RM8.2 million in 1H FY2024. The Group's profitability continued to improve, driven by stronger revenue growth and disciplined cost management. As at 20 February 2025, MN Holdings' order book stood at RM665.3 million, providing strong earnings visibility for the next two to three financial years. The Group remains well-positioned to capitalise on Malaysia's ongoing infrastructure development and energy transition, particularly in renewable energy, data centres, and water utilities. Dato' Clement Toh, Managing Director of MN Holdings said, "The growth momentum from our underground utilities and substation engineering projects reflects our execution capabilities and the strength of our order book. With increasing investments in infrastructure and power distribution, we remain optimistic about our ability to drive long-term and sustainable earnings growth." He added, "Malaysia's data centre market is expanding rapidly, with major global players investing in large-scale facilities, driving demand for power distribution infrastructure. Meanwhile, government initiatives such as LSS5+ Petra for solar energy and the RM10 billion AIR 2040 programme for water infrastructure upgrades present significant opportunities for us. Leveraging our expertise, we are well-positioned to support these developments and capitalise on the industry's growing demand." MN Holdings remains focused on strengthening its foothold in key infrastructure sectors, ensuring continued revenue growth and profitability in the coming quarters. About MN Holdings Berhad ("MN Holdings") Established in 2007, MN Holdings Berhad ("MN Holdings" or the "Group") is a leading solutions provider in infrastructure utilities construction, specialising in underground utilities and power infrastructure in Malaysia. Expanding into substation engineering in 2012, the Group offers construction, integration, and maintenance services for electrical power systems. The Group also partners with global manufacturers to distribute power control systems and substation components, reinforcing its commitment to delivering comprehensive engineering solutions with the expertise, workforce, and machinery to support critical infrastructure projects. For more information, visit Issued By: Swan Consultancy Sdn. Bhd. on behalf of MN Holdings Berhad For more information, please contact: Jazzmin WanEmail: Xinyi ChingEmail: SOURCE: MN Holdings Berhad View the original press release on ACCESS Newswire Sign in to access your portfolio
