UMW Holdings’ Net Profit Soared To RM128.1 Million In 3Q18

 |  Monday, 03 December 2018 10:09  |  Published in CORPORATE

UMW Holdings Bhd’s Group profit before taxation (PBT) jumped more than tenfold while revenue increased by 23.5%, arising from improved contributions from all three of its core businesses.

The Automotive segment successfully capitalised on positive consumer sentiment during the Goods and Services Tax (GST)-free period; while the decision to focus on more urbanised sectors in the Equipment segment led to higher sales with increased demand in the construction sector.

KIP REIT Inks S&P Agreement with Kinta City Sdn Bhd

 |  Monday, 03 December 2018 10:06  |  Published in CORPORATE

The RM208mil acquisition of Aeon Mall Kinta City in Ipoh by Main Market listed KIP Real Estate Investment Trust will boost the fund’s asset under management (“AUM”) to a whopping RM834.9mil and yield in the coming years.

With an AUM size of RM614.93mil as at September 30, 2018, this is KIP REIT’s first asset purchased since its listing in February 2017 and the largest in terms of net lettable area and market value.

CIMB Group announces record PBT of RM5.69 billion for 9M18

 |  Thursday, 29 November 2018 17:16  |  Published in CORPORATE

CIMB Group Holdings Berhad (“CIMB Group” or the “Group”) reported a net profit of RM4.47 billion for the first 9 months of 2018 (“9M18”) bolstered by a gain from the sale of 20% of CIMB-Principal Asset Management (“CPAM”) and 10% of CIMB-Principal Islamic Asset Management (“CPIAM”) amounting to RM928 million. This raised the Group’s 9M18 Return On average Equity (“ROE”) to 11.6%, and reduced its Cost-to-Income Ratio (“CIR”) to 48.0%.

On a Business-As-Usual (“BAU”) basis, Profit Before Tax (“PBT”) was RM4.76 billion for 9M18 representing a 4.0% year-on-year (“Y-o-Y”) growth. Lower Y-o-Y operating expenses of 6.4% and loan loss provisions of 30.7% contributed to the Group’s increase in 9M18 BAU net profit by 3.6% Y-o-Y to RM3.54 billion.

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