Latest news with #RM4.93
The Star
3 days ago
- Business
- The Star
FBM KLCI slips in as consolidation continues ahead of tariffs deadline, OPR decision
KUALA LUMPUR: Moving in a sideways trajectory, the domestic stock market is due for some profit-taking after the previous week's gains, especially as the negotiation period between the US and its trading partners reaches its deadline this week. Bursa Malaysia's benchmark FBM KLCI dropped 5.45 points to 1,544.74 at Monday's open, retracing some of the gains made from foreign inflows into the local market. According to TA Securities, the short-term technical momentum and trend indicators on the FBM KLCI are beginning to flatten, which suggests the index could remain in a consolidation phase this week. "Investor sentiment is likely to stay cautious due to ongoing uncertainty surrounding potential trade negotiations with the US, especially as the July 9 deadline for President Trump's reciprocal tariff pause looms," it said in its market commentary. However, the medium-term signals continue to reflect a bullish undertone, which indicates further upside potential for the FBM KLCI. It added that a resurgence in buying momentum will be essential to catalyse a decisive move towards higher levels. "Immediate resistance remains at 1,564 with the next upside hurdles coming from the recent high of 1,586, followed by 1,610 ahead. Immediate index support is kept at 1,490, with stronger supports found at 1,465 followed by 1,444." Meanwhile, Apex Securities noted the unceratainty surrounding global trade and monetary policy, with major domestic developments to direct the week's trading direction. "Investors are advised to closely monitor the upcoming BNM Monetary Policy Decision on Wednesday, as well as the Industrial Production Index (IPI) data to be released on Friday for further indications of market direction," it said in its outlook. Among the laggards, Gamuda dropped 17 sen to RM4.93, YTL Power fell 22 sen to RM3.90 and Sunway shed nine sen to RM4.81. Top actives were NexG up one sen to 41 sen, NationGate sliding 15 sen to RM1.63 and TWL unchanged at 2.5 sen.
New Straits Times
26-05-2025
- Business
- New Straits Times
AmBank posts 7.1pct higher net profit to RM2.0bil for FY25, paying 30.2 sen dividend
KUALA LUMPUR: AMMB Holdings Bhd (AmBank Group) closed its financial year ended March 31 2025 (FY25) with a 7.1 per cent net profit growth year-on-year to RM2.0 billion from RM1.87 billion previously. This was on the back of a higher net income of RM4.93 billion from RM4.65 billion in FY24, said AmBank Group in a statement today. The group posted a net profit of RM513.93 million in the final quarter, up from RM476.54 million a year ago. Its revenue during the fourth quarter (Q4) rose to RM1.28 billion from RM1.17 billion in Q4FY24, while earnings per share climbed to 15.55 sen from 14.41 sen previously. AmBank Group chief executive officer Jamie Ling said: "We are pleased to report a strong close to the first year of our WT29 strategy. "With our capital position solid, we increased our total cash dividend to RM1.0 billion. This reflects our confidence as we continue to build our businesses from a position of strength," he added. The group proposed a final dividend of 19.9 sen per share for the fourth quarter (Q4) of FY25. Together with the interim dividend of 10.3 sen per share declared in Q2, total dividends for FY25 amounted to 30.2 sen per share, up 34 per cent YoY with a dividend payout ratio of 50 per cent AmBank's net interest income grew 8.0 per cent YoY to RM3.57 billion, with a 15-basis point expansion in net interest margin to 1.94 per cent. Its non-interest income grew 1.3 per cent YoY to RM1.36 billion with continuing operations income up 5.3 per cent YoY. AmBank said a broad-based growth in fee income was achieved across business banking, retail wealth management, funds, stockbroking, private banking and equity capital markets and from insurance. This was partially offset by lower trading gains from group treasury and markets. The group's total gross loans, advances and financing grew 3.5 per cent YoY to RM138.9 billion (FY24: RM134.1 billion) mainly driven by business banking (up RM5.4 billion or 12.4 per cent YoY) and wholesale banking (up RM1.3 billion or 6.8 per cent YoY). This was partially offset by lower loans growth in retail banking (down RM1.4 billion or 2.1 per cent YoY). Its total customer deposits fell 0.6 per cent YoY to RM141.5 billion, while total expenses increased 7.1 per cent YoY to RM2.2 billion, with cost-to-income ratio of 44.6 per cent. The group's net impairment charges dropped to RM143.9 million (FY24: RM769.7 million), on the back of improved expected credit loss calculations for loans classified as Stage 3 (or ECL S3) flow rates and writeback of forward-looking provision. In the corresponding period in FY24, forward looking charges as well as a one-off credit impairment overlay and intangible assets impairment charges were recorded. That year, the group recorded a one-off charge of RM520.2 million (RM402.5 million, net of corporate tax) comprising additional credit impairment overlay of RM328.2 million, impairment of intangible assets of RM111.9 million and RM80.0 million for restructuring expenses. On its prospects, Ling said the geopolitical tensions have heightened following the US reciprocal tariffs. This has caused significant volatilities in the financial markets globally. While trade negotiations are ongoing between the US and other nations, it remains uncertain how quickly these negotiations can be concluded, he added. "Coupled with new conflicts emerging in South Asia, these combined uncertainties will inevitably impact business and consumer confidence, translating into potentially slower economic growth. "Against this economic backdrop, the group will continue to proactively manage our risk profiles and capitalise on the opportunities we see," Ling said.
