PETALING JAYA, 25 June 2020 – WCT Holdings Berhad (“WCT” or “the Group), a leading engineering and construction as well as property company, announced today that it has delivered a profit after taxation of RM17 million for its first financial quarter ended 31 March 2020 as compared to RM39 million in the preceding year’s corresponding quarter. After taking into consideration the allocation to non-controlling interests and perpetual sukuk holders, the Group registered loss attributable to equity holders of RM0.017 million as compared to profit attributable to equity holders of RM40 million recorded in the financial quarter ended 31 March 2019. 

The Group’s revenue for the quarter was lower at RM363 million as compared to RM515 million in the preceding financial year’s corresponding quarter. The Group’s Engineering and Construction Division was the primary contributor to the Group’s performance as the Division accounted for 67% of the consolidated revenue, backed by its outstanding order book comprising a mix of civil and infrastructure works as well as building construction jobs. 

Kuala Lumpur, 25 June 2020 – Alliance Bank Malaysia Berhad (“Alliance Bank” or the “Bank”) today reported a pre-provision operating profit of 4.1% year-on-year (“YOY”) to RM882.3 million. Its revenue grew 4.1% YOY to RM1.69 billion, driven by improvement in non-interest income. The Bank recorded a net interest margin of 2.40%. It continues to be one of the fastest growing banks in the SME segment, registering loans growth of 8% YOY. 

The Bank’s total net interest income (including the Islamic Banking segment) was at RM1.32 billion. Excluding the impact of the three Overnight Policy Rate (“OPR”) cuts in FY2020, net interest income grew by 4.0% YOY.

Kuala Lumpur, 25 June 2020 – MyTukar, the fastest growing used car trading platform has teamed up with Malaysia’s leading Supply Chain Financing and P2P platform, CapBay to offer a seamless integrated one-click financing programme for used car dealers – the MyTukar Dynamic Dealership Programme. This innovative dealership financial services programme aims to provide a hassle-free financing experience for all their authorised dealerships in Malaysia, with a total financing of up to RM300 million. CapBay’s strong technological expertise in executing end to end digitization and automation of financing processes enables the online car bidding platform to effectively drive its Dealer Management System. This in turn allows MyTukar to support used car dealers with a comprehensive financial ecosystem.

"We are pleased to introduce MyTukar Dynamic Dealership Programme, our new dealership financial services to support our 1,900 nationwide authorised dealers with a convenient and integrated purchasing experience. We believe that this programme will further strengthen our dealership ecosystem while supporting our authorised dealers' used car business through this challenging time," said Fong Hon Sum, CEO of MyTukar.com Malaysia. 

25 June 2020, KUALA LUMPUR: Malaysia’s fastest-growing direct to consumer premium lifestyle brand Oxwhite is turning two! For the premium lifestyle brand, turning two means more than merely staying afloat with its business enhancement, expansion and extension plans.

The premium lifestyle brand broke Malaysian equity crowdfunding records in December last year by securing an investment of USD$1.188 million (RM5.019 million) from 485 investors. With the right business strategy in place and prudent financial management, the brand is set to reach its goal of achieving double-digit growth by end of this year, said Oxwhite Founder CK Chang adding that Oxwhite, will be celebrating its second year anniversary on 30 June 2020.