Latest news with #RafeHaneef
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
