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The Star
4 days ago
- Business
- The Star
RHB Bank maintains growth with 1Q net profit of RM750.03mil
RHB Banking Group's group managing director/ group chief executive officer Mohd Rashid Mohamad —YAP CHEE HONG/The Star KUALA LUMPUR: RHB Bank Bhd sustained earnings growth in the first quarter of 2025 (1QFY25) with cost optimisation efforts and a focus on asset quality yielding results. 'Our new 3-year strategic roadmap, PROGRESS27, sets a clear course toward becoming the best in service, enhancing profitability, and reinforcing our purpose-driven commitment. "With focused execution priorities, from simplifying customer journeys to advancing our sustainability ambitions, we are well-positioned to deliver near-term value while unlocking long-term value for all stakeholders,' said group managing director and CEO Datuk Mohd Rashid Mohamad in a statement. During the quarter under review, RHB recorded a net profit of RM750.03mil, up from RM730.17mil in the year-ago quarter. The group reported revenue of RM4.39bil, which was slightly lower than RM4.4bil in the comparative quarter, while earnings per share rose to 17.2 sen from 17.03 sen previously. According to the bank, net fund-based income increased 7.3% year-on-year (y-o-y)to RM1.5bil, on the back of higher gross loans. Net interest margin improved from 1.83% to 1.84% over the one-year period. "The group continued to proactively manage its funding costs through active liability management initiatives. Taking this into account, the effective NIM for the quarter was 1.91%," it said. Non-fund based income, however, fell 20.2% y-o-y to RM600mil, mainly owing to lower net gain on forex and derivatives, and net trading and investment income. On an annualised basis, the group's gross loans grew 2.4% to RM239bil, supported by growth in the group community banking and commercial segments, respectively. Customer deposits was RM249bil, with current account savings account (Casa) composition improving to 28% from 27.6% In December 2024.
The Star
23-05-2025
- Entertainment
- The Star
Australian meats get Japanese treatment
Fukuda's twists include Australian Lamb Onigiri with Lamb Miso (left) and juicy lamb dumpling with spicy 'shiso' dressing. — YAP CHEE HONG/ The Star Lovers of lamb and beef can take the opportunity to enjoy premium Australian meats with Japanese flair. Parkroyal Collection Kuala Lumpur is hosting Japanese guest chef Koji Fukuda for 'A Taste of Japan' showcase. Until May 26, Fukuda will serve creations with his signature twist during weekday buffet dinners at Thyme restaurant, with a special Fabulous Meat and Seafood Buffet today and tomorrow. The celebration wraps up in style with an exclusive five-course dinner with wine on May 26 at Pacific Lounge, Pan Pacific Serviced Suites Kuala Lumpur. This dining experience is held in collaboration with Meat & Livestock Australia (MLA) and Aussie Beef & Lamb. Fukuda, who is 'Lambassador' for Aussie lamb in partnership with MLA, brings his unique take on the meat by combining it with Japanese ingredients. The initiative is a global project that identifies influential food professionals who are passionate about cooking with Australian lamb. Inspired by his culinary journey in Victoria, Australia, Fukuda is on a mission to introduce more lamb into Japanese cuisine, a rarity in his home country. 'In Japan, lamb is not a typical ingredient. Even in supermarkets, it is hard to find. 'Over the past few years, it has been slowly gaining traction. 'In the north of Japan for example, a stir-fried dish featuring lamb shoulder is popular,' he said. At Parkroyal, expect creative bites like Australian Lamb Onigiri with Lamb Miso, Slim Beef Strip Tempura, Hokkaido-style Genghis Khan Yakisoba and juicy lamb dumplings with a spicy shiso dressing from Fukuda. The buffet dinner is priced at RM185nett per person, the meat-and-seafood buffet is RM238nett, and five-course wine dinner is RM368nett. For reservations, WhatsApp 010-229 7156 or email
The Star
18-05-2025
- Automotive
- The Star
‘Let us have access to e-vetting system'
Sharing his views: Wong speaking during the seminar in Kuala Lumpur. — YAP CHEE HONG/The Star KUALA LUMPUR: With accidents involving trucks continuing to make headlines in recent weeks, a logistics industry leader is urging the government to expand access to an e-vetting system that will allow employers to screen potential lorry drivers for criminal or drug-related offences. Malaysia Trucking Federation (MTF) president Datuk Ng Koong Sinn said that currently, only lorry drivers operating at ports are subject to e-vetting, leaving other sectors, such as companies transporting sand or stone, unable to properly vet their drivers before hiring them. 'They should consider expanding e-vetting for all lorry services and provide us access to the system so we can better screen for possible bad apples before hiring,' he said before an MTF seminar on current logistics industry challenges yesterday. He encouraged all MTF members and other industry players to consider conducting regular drug and urine tests on their drivers as a preventive measure. Meanwhile, Association of Logistics Entrepreneurs Malaysia president Puvaneaish Subramaniam highlighted the issue of substandard lorry spare parts in the market. She said the widespread availability of cheap, low-quality parts is compromising road safety, especially among smaller operators struggling to survive in a highly competitive, low-margin industry. 'These parts should not even be allowed into the country in the first place, which is why the government needs to crack down and regulate the market to protect competitiveness and overall road safety,' she said. Malaysian Institute of Road Safety Research chairman Prof Dr Wong Shaw Voon said industry players need to integrate road safety into their occupational health and safety business management systems. 'Adopting long-trusted safety management systems such as ISO 39001 or ISO 45001 would help embed road safety responsibility across their entire value chain. 'This would not only increase road transport safety awareness among the implementing company and its stakeholders but also allow for consistent measurement of the company's road safety performance,' Wong said in his speech at the seminar.
The Star
03-05-2025
- Automotive
- The Star
‘Empty land next to Jinjang MRT should be turned into carpark'
Yee says a new carpark built on the land beside the Jinjang MRT station will be able to cater to dozens of cars. — YAP CHEE HONG/The Star A CARPARK should be built on land alongside the Jinjang MRT station, community activist Yee Poh Ping suggested. He said the existing park-and-ride facilities next to the station in Kepong, Kuala Lumpur, was inadequate to meet the demand. Kuala Lumpur City Hall (DBKL), Mass Rapid Transit Corporation (MRT Corp) and the Land Public Transport Agency (APAD) should provide a solution to the parking woes, he said. 'The three parking lots at the station fill up early in the morning as people park there to take the MRT to work. 'This forces a lot of commuters to park at the pick-up and drop-off points, even at the parking spots reserved for people with disabilities,' he said during a press conference at the area. He said while the government promoted the usage of public transport, it needed to ensure enough park-and-ride facilities for users' convenience. Previously, Yee had also raised his concerns about hoarding structures and canvas being stacked up on that land over the Chinese New Year holidays. A letter by APAD sent to Yee last March 11 stated that the agency did not object to MRT Corp's decision to rent the government land (Lot 55080), located in a railway protection zone, to a private company. Every development project that falls under a railway protection zone requires APAD's approval, as prescribed in the Railways (Railway Protection Zone) Regulations 1998. A temporary showroom for used cars, two office cabins and a toilet would be built on the land, according to another letter by APAD sent to the private company last Jan 27. Yee questioned the decision, saying that a new carpark would be able to solve the parking issue there as well as the surrounding residential areas, as motorists have taken to parking there before going to the station. 'Using the land for commercial purposes would also create a series of environmental issues, especially if the structure doesn't have good sanitary facilities and drainage system. He said MRT Corp and APAD should have considered the factors before approving the used car showroom project. Yee also urged DBKL to carefully evaluate all development permit applications for government land. When contacted, APAD said it had issued a no-objection letter to MRT Corp's decision to rent the land to the private company after it found that the proposed development would not jeopardise the safety of the existing train structure and operations. 'However, any construction on the land would require DBKL's approval,' it added. On the park-and-ride facilities, APAD said there were 239 parking lots at the Jinjang MRT station. 'There are also 212 parking lots at the Metro Prima MRT station, which is about 1km away from the Jinjang MRT station, that can be used by MRT users. 'APAD constantly reminds MRT Corp to monitor the usage level of existing parking lots and provides recommendations for new and suitable locations to be turned into parking bays based on local needs,' it said. MRT Corp and DBKL had not responded to queries at press time.
The Star
03-05-2025
- The Star
Stop-work order issued for Puchong building site
DBKL has issued a notice against the landowner who carried out illegal work that caused mud to wash onto the main road. — YAP CHEE HONG/The Star the landowner responsible for the muddy mess along Jalan Puchong's 6th mile has been ordered to carry out mitigation work, following enforcement by Kuala Lumpur City Hall (DBKL). After StarMetro's April 22 report titled 'Stakeholders decry Jalan Puchong's muddy mess', DBKL enforcement officers inspected the site. In a statement to StarMetro, the local authority confirmed that the landowner was at fault. 'We found the residents' complaints to be justified. 'The dirt and mud originated from a nearby construction site, which caused runoff onto the public road, forming pools of muddy water,' it said. During the visit, the Federal Territories Solid Waste Management and Public Cleansing Corporation (SWCorp) supervised the cleaning of the affected location in the presence of the officers. DBKL said further checks revealed the landowner had not obtained planning permission or approval to carry out earthworks on the site, identified as Lot 9614. 'A notice of offence under Section 47(2)(b) of the Street, Drainage and Building Act 1974 was issued to the landowner. 'We have seized the site and ordered an immediate stop-work for all activities until the necessary approvals are obtained.' A directive was also issued for the landowner to implement a mitigation plan to prevent any recurrence. DBKL said it would continue monitoring the area to ensure compliance with regulations and to safeguard urban environmental standards. StarMetro had reported on the muddy conditions along Jalan Puchong's 6th mile, caused by runoff from a nearby vacant lot that showed signs of unauthorised excavation. The runoff from the land under DBKL's jurisdiction, made the roadside slippery whenever it rained, splashing vehicles, posing a risk to motorcyclists and forcing pedestrians to walk on the road. On dry days, residents said the mud dried into fine dust that coated homes, laundry and shopfronts.
