Tomollow sure ANG ANG.
Written by Joseph Chin
Tuesday, 25 August 2009 18:11
KUALA LUMPUR: MALAYAN BANKING BHD [] posted net profit of RM691.87 million for its financial year ended June 30, 2009 from RM2.93 billion a year ago.
Revenue was higher at RM17.58 billion compared with RM16.15 billion. Earnings per share were RM12 sen compared with 53.32 sen.
For the fourth quarter (4Q), its suffered a net loss of RM1.118 billion compared with a net profit of RM792.21 million a year ago. Revenue was RM4.86 billion compared with RM4.49 billion. Loss per share was 17.62 sen compared with EPS of 14.41 sen. It proposed a dividend of eight sen per share.
Maybank said in 4Q, the group had made an impairment charge of RM1.617 billion on goodwill arising from its 97.5%-owned PT Bank Internasional Indonesia Tbk (BII) banking business operations and an additional impairment loss of RM111 million for the investment in MCB Bank.
"As a result, the group registered a pre-tax loss of RM821.7 million for the current quarter," it said.
Commenting on the FY09 results, it said net interest income increased by RM492.7 million or 9.1% to RM5.92 billion.
The higher net interest income came mainly from growth in loans, advances and financing, and improved lending margins, due to its consolidation of BII.
The Group's loans, advances and financing registered an increase of RM21.17 billion or 12.9% from 30 June 2008.
Non interest income (including marked to market gain/loss on derivatives and securities held for trading) was higher by RM203.4 million or 6.4% compared to that of the previous corresponding financial year.
The higher non interest income was contributed by higher fee income and net premium written, which was higher by RM282.1 million and RM25.7 million respectively. However, this was offset by a lower foreign exchange profit of RM437.1 million compared to a profit of RM623.2 million in the corresponding financial year.
"Overheads increased by RM1.31 billion or 30.8% over that of the corresponding year as a result of consolidation of BII overhead costs. Personnel costs increased by RM607.6 million or 31.2% partly due to incorporation of BII's personnel costs and finalisation of salary revisions, including adjustments for previous quarters, for officers and clericals under the respective collective agreements concluded during the period," it said.
Group's operating profit for the year was mainly impacted by higher allowance for impairment of securities of RM197.5 million compared to a write-back of RM66.2 million in prior year, and a higher allowance for losses on loans due mainly to higher specific allowance made, lower recoveries and as a result of consolidation of the loan loss provision of BII for the first time in the current financial year.
"As a result, the Group's operating profit for the period decreased from RM4.57 billion to RM3.06 billion, or a reduction of 33.0%," it said.
Group's profit before tax was mainly impacted by impairment charge of RM1.62 billion on goodwill of the group arising from BII's banking business operations and impairment loss of RM353.1 million for the investment in MCB Bank.
However, this was partly offset by the write-back of allowance for non-refundable deposit of RM483.8 million arising from the reinstatement of approval by Bank Negara Malaysia, and the subsequent completion of the proposed acquisition of Sorak Financial Holdings Pte Ltd, the controlling shareholder of BII.
As a result of the above, the group's profit before tax profit for the financial year ended June 30, 2009 fell 59.0% or RM2.41 billion to RM1.67 billion compared to the previous financial year.
Net profit attributable to equity holders was lower by 76.4% or RM2.23 bllion to RM691.9 million compared to the previous financial year.
Tuesday, 25 August 2009 18:11
KUALA LUMPUR: MALAYAN BANKING BHD [] posted net profit of RM691.87 million for its financial year ended June 30, 2009 from RM2.93 billion a year ago.
Revenue was higher at RM17.58 billion compared with RM16.15 billion. Earnings per share were RM12 sen compared with 53.32 sen.
For the fourth quarter (4Q), its suffered a net loss of RM1.118 billion compared with a net profit of RM792.21 million a year ago. Revenue was RM4.86 billion compared with RM4.49 billion. Loss per share was 17.62 sen compared with EPS of 14.41 sen. It proposed a dividend of eight sen per share.
Maybank said in 4Q, the group had made an impairment charge of RM1.617 billion on goodwill arising from its 97.5%-owned PT Bank Internasional Indonesia Tbk (BII) banking business operations and an additional impairment loss of RM111 million for the investment in MCB Bank.
"As a result, the group registered a pre-tax loss of RM821.7 million for the current quarter," it said.
Commenting on the FY09 results, it said net interest income increased by RM492.7 million or 9.1% to RM5.92 billion.
The higher net interest income came mainly from growth in loans, advances and financing, and improved lending margins, due to its consolidation of BII.
The Group's loans, advances and financing registered an increase of RM21.17 billion or 12.9% from 30 June 2008.
Non interest income (including marked to market gain/loss on derivatives and securities held for trading) was higher by RM203.4 million or 6.4% compared to that of the previous corresponding financial year.
The higher non interest income was contributed by higher fee income and net premium written, which was higher by RM282.1 million and RM25.7 million respectively. However, this was offset by a lower foreign exchange profit of RM437.1 million compared to a profit of RM623.2 million in the corresponding financial year.
"Overheads increased by RM1.31 billion or 30.8% over that of the corresponding year as a result of consolidation of BII overhead costs. Personnel costs increased by RM607.6 million or 31.2% partly due to incorporation of BII's personnel costs and finalisation of salary revisions, including adjustments for previous quarters, for officers and clericals under the respective collective agreements concluded during the period," it said.
Group's operating profit for the year was mainly impacted by higher allowance for impairment of securities of RM197.5 million compared to a write-back of RM66.2 million in prior year, and a higher allowance for losses on loans due mainly to higher specific allowance made, lower recoveries and as a result of consolidation of the loan loss provision of BII for the first time in the current financial year.
"As a result, the Group's operating profit for the period decreased from RM4.57 billion to RM3.06 billion, or a reduction of 33.0%," it said.
Group's profit before tax was mainly impacted by impairment charge of RM1.62 billion on goodwill of the group arising from BII's banking business operations and impairment loss of RM353.1 million for the investment in MCB Bank.
However, this was partly offset by the write-back of allowance for non-refundable deposit of RM483.8 million arising from the reinstatement of approval by Bank Negara Malaysia, and the subsequent completion of the proposed acquisition of Sorak Financial Holdings Pte Ltd, the controlling shareholder of BII.
As a result of the above, the group's profit before tax profit for the financial year ended June 30, 2009 fell 59.0% or RM2.41 billion to RM1.67 billion compared to the previous financial year.
Net profit attributable to equity holders was lower by 76.4% or RM2.23 bllion to RM691.9 million compared to the previous financial year.