Latest news with #RafeHaneef
The Star
30-06-2025
- Business
- The Star
Trading ideas: Sunway, KPJ, IHH, FGV, Mulpha, SCIB, MBSB, Green Ocean, Destini, Jati Tinggi
KUALA LUMPUR: Here is a recap of the announcements that made headlines in Corporate Malaysia. Sunway Property, the property arm of Sunway Bhd , through its joint-venture subsidiary Sunway Rawang City Sdn Bhd, has entered into a sale and purchase agreement to acquire approximately 99.6 acres of freehold land in Kuang, Selangor, for RM65.1mn. KPJ Healthcare Bhd is reviewing its overseas operations, particularly in Dhaka, Bangladesh, as part of an ongoing portfolio reassessment to maximise shareholder value. IHH Healthcare Bhd has launched a SGD5.0mn research grant and innovation sandbox to drive clinical research and innovation across its global network. Kenanga Investment Bank Bhd , acting as the independent adviser, has recommended that shareholders of FGV Holdings Bhd accept the RM1.30-per-share offer from the Federal Land Development Authority. Mulpha International Bhd group will get AUD339.3mn from its 15.2% stake in Australian retirement operator Aveo Group, which it had to sell under a tag-along arrangement. Sarawak Consolidated Industries Bhd is undertaking a renounceable rights issue with free detachable warrants to raise up to RM53.5mn, alongside a proposed RM110.0mn capital reduction. MBSB Bhd group chief executive officer Rafe Haneef said the financial institution aims to grow its loan book to RM50.0bn by FY26, from approximately RM43.0bn in FY24. Green Ocean Corporation Bhd said it is unaware of any rumours, reports, or developments related to its business that could explain the unusual market activity. Destini Bhd has secured a RM71.0mn contract from the Transport Ministry to carry out Level 3 maintenance, repair and overhaul works for 9 electric train sets. Jati Tinggi Group Bhd has secured a RM54.2mn award from Worktime Engineering Sdn Bhd for work on a 132-kilovolt underground cable for the main intake substation in Taman Melawati, Kuala Lumpur. Powerwell Holdings Bhd has secured a purchase order worth RM8.3mn from PT Duta Listrik Graha Prima to supply low-voltage switchboards for a data centre project in Indonesia. Eduspec Holdings Bhd has accepted a letter of award from EG Industries Bhd to provide independent testing services for 5G optical modules and related components, valued at RM40.0mn. SumiSaujana Group Bhd has accepted a letter of award from Sarawak Shell Bhd to provide specialised chemicals and associated services for the Rosmari and Marjoram gas fields off Bintulu, Sarawak. Yong Tai Bhd is acquiring Sabah-based property developer Sumberjaya Builders Sdn Bhd for RM15.0mn, as it aims to tap into development opportunities in Lahad Datu and Tawau. Jentayu Sustainables Bhd plans to acquire a 51.0% stake in Jentayu Solar Sdn Bhd for RM5.9mn and raise up to RM48.8mn through a private placement of 119.4mn new shares to support its renewable energy project in Sabah. UEMS Pte Ltd, a Singapore-based wholly owned subsidiary of UEM Edgenta Bhd , is evaluating several acquisition targets of varying sizes in Singapore and Taiwan, as it looks to expand its integrated facilities management and healthcare support services businesses. Top Glove Corporation Bhd 's net profit dropped 31.4% YoY to RM34.8mn in 3QFY25, from RM50.7mn a year earlier, due to higher expenses. Gamuda Bhd 's net profit jumped 4.7% YoY to RM246.8mn in 3QFY25, from RM235.8mn a year earlier, driven by robust performance within its domestic construction division. United Malacca Bhd 's net profit jumped 57.4% YoY to RM23.7mn in 4QFY25, from RM15.1mn a year earlier, on the back of higher FFB production, stronger CPO prices and lower unit production costs in Indonesia. Kim Loong Resources Bhd 's net profit fell 15.3% YoY to RM41.9mn in 1QFY26, from RM49.5mn a year earlier, due to lower processing margins from milling operations. Eco World Development Group Bhd 's net profit surged 85.3% YoY to RM129.8mn in 2QFY25, from RM70.1mn a year earlier, thanks to the sale of 123 acres of industrial land at the QUANTUM Edge business park to Microsoft as well as full contributions from Paragon Pinnacle Sdn Bhd.
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.
The Star
27-05-2025
- Business
- The Star
MBSB reports 1Q net profit up 8.1% to RM85mil
KUALA LUMPUR: MBSB Bhd has posted a higher net profit of RM84.67mil in the first quarter ended March 31 (1Q25), an 8.1% increase against 1Q24's RM78.34mil, supported by higher net funded income and lower impairment provisions. Revenue was 2.8% lower at RM868.02mil from RM893.45mil previously, the group said in a Bursa Malaysia filing yesterday. 'The lower revenue is mainly due to lower profit income for loans, financing and advances. The impairment allowance for the quarter was RM28.1mil, contributed by additional provisioning for retail portfolios,' the financial services company said. In a separate statement, MBSB said total gross financing remained consistent at RM42.6bil because the group had maintained a disciplined financing posture in line with prevailing market dynamics. Meanwhile, its current and savings account ratio improved to 9.26%, with a RM700mil increase in balances over the year, particularly from commercial and corporate clients. Group chief executive officer Rafe Haneef said its integration with MIDF has opened up new capabilities and created opportunities to reach a broader customer base. He said MBSB's priorities for the remainder of this year include enhancing small and medium enterprise propositions, expanding digital touchpoints, and improving customer experience. 'With transformation initiatives underway, the group remains focused on long-term sustainability and building a more agile, customer-focused organisation,' he added. — Bernama
The Star
26-05-2025
- Business
- The Star
MBSB 1Q net profit up 8.1% to RM84.67mil, new opportunities from MIDF integration
KUALA LUMPUR: MBSB Bhd has posted a higher net profit of RM84.67 million in the first quarter ended March 31, 2025 (1Q FY2025), an 8.1 per cent increase against 1Q FY2024's RM78.34 million, supported by higher net funded income and lower impairment provisions. Revenue was 2.8 per cent lower at RM868.02 million from RM893.45 million previously, the group said in a Bursa Malaysia filing today. "The lower revenue is mainly due to lower profit income for loans, financing and advances. The impairment allowance for the quarter was RM28.1 million, contributed by additional provisioning for retail portfolios,' it said. In a separate statement, MBSB said total gross financing remained consistent at RM42.6 billion because the group had maintained a disciplined financing posture in line with prevailing market dynamics. Meanwhile, its current and savings account ratio improved to 9.26 per cent, with a RM700 million increase in balances over the year, particularly from commercial and corporate clients. Group chief executive officer Rafe Haneef said the integration with MIDF has opened up new capabilities and created opportunities to reach a broader customer base. He said MBSB's priorities for the remainder of 2025 include enhancing small and medium enterprise propositions, expanding digital touchpoints, and improving customer experience. "With transformation initiatives underway, the group remains focused on long-term sustainability and building a more agile, customer-focused organisation,' he added. - Bernama
The Star
20-05-2025
- Business
- The Star
MBSB allocates RM1bil financing to support Malaysia's aerospace sector's growth
KUALA LUMPUR: MBSB Bhd has announced a RM1 billion financing facility to accelerate the growth of Malaysia's aerospace sector. The facility will support the national vision outlined in the Malaysia Aerospace Industry Blueprint 2030 (MAIB 2030), which aims to position the country as a leading aerospace hub in Asia, the group said in a statement today. It said the funding, which is made available through MBSB Bank Bhd and MIDF's development finance facility, is tailored for original equipment manufacturer (OEM) suppliers, as well as Tier 1 and Tier 2 manufacturers. The facility also targets maintenance, repair, and operations (MRO) providers and aerospace companies investing in expansion, automation, engineering, research and development, and talent development, said the bank. Group chief executive officer (CEO) Rafe Haneef said aerospace is not only a high-tech (technology) sector but also a high-impact one. "As Malaysia cements its role in the global supply chain and supplies to major OEMs, the returns to our economy are tangible, from skilled job creation to export value. "Our RM1 billion facility is designed to scale that impact by backing players with the ambition to lead in manufacturing, design and innovation. We are here to fund the future of aerospace, which is precisely where Malaysia can lead,' he said. Meanwhile, National Aerospace Industry Corporation Malaysia (Naico) CEO Shamsul Kamar Abu Samah said Malaysia's aerospace industry reached RM25.1 billion in revenue in 2024, driven by strong growth in MRO and manufacturing. He added that MBSB's RM1 billion facility is a timely boost to this momentum, directly supporting Naico Malaysia's mandate under MAIB 2030 and aligning with the Ministry of Investment, Trade and Industry's New Industrial Master Plan 2030. - Bernama
