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$MAYBANK(1155.MY$ just brought at 9.9 hope it a good bargain🫣
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$SPSETIA(8664.MY$ Sold ..wasting time to keep this stock .bye
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$MAYBANK(1155.MY$
The contribution of Islamic banks increased, and Bank of Malaysia's net profit rose 10% to earn 2.5 billion
The increase in Islamic banking business and other operating revenue contributed to a 9.85% year-on-year increase in MAYBANK (MAYBANK)'s net profit for the first quarter of fiscal year 2024 to RM2,48,472,000.
Revenue for the quarter ending March 1 was recorded at RM18.346.63 million, an annual increase of 20.81%.
Bank of Malaysia's net interest income for the first quarter fell slightly to RM3.154 billion from RM3,228 billion in the same period last fiscal year, mainly due to increased financing costs in the local market, and net interest earnings (NIM) fell 19 basis points year over year.
Due to strong growth in loans from Malaysia, Singapore and Indonesia in major markets, total loans increased 11% in the first quarter; total deposits expanded 8.9%.
In addition, the bank's insurance/Islamic insurance business had net revenue of RM182 million, compared with a net loss of RM8 million in the previous period.
The revenue of Islamic banks increased to RM2,090 billion, compared to RM1,791 billion in the previous period.
Financial asset appreciation
Meanwhile, other operating income increased to RM2,868 billion, an increase of 66.8% compared to the previous RM1,719 billion, mainly due to an increase in the value of some financial assets.
These include higher unrealized returns brought about by the fair value measurement (FVTPL) revaluation of financial liabilities and financial investments, as well as increases in investment income and fee income.
This silver...
The contribution of Islamic banks increased, and Bank of Malaysia's net profit rose 10% to earn 2.5 billion
The increase in Islamic banking business and other operating revenue contributed to a 9.85% year-on-year increase in MAYBANK (MAYBANK)'s net profit for the first quarter of fiscal year 2024 to RM2,48,472,000.
Revenue for the quarter ending March 1 was recorded at RM18.346.63 million, an annual increase of 20.81%.
Bank of Malaysia's net interest income for the first quarter fell slightly to RM3.154 billion from RM3,228 billion in the same period last fiscal year, mainly due to increased financing costs in the local market, and net interest earnings (NIM) fell 19 basis points year over year.
Due to strong growth in loans from Malaysia, Singapore and Indonesia in major markets, total loans increased 11% in the first quarter; total deposits expanded 8.9%.
In addition, the bank's insurance/Islamic insurance business had net revenue of RM182 million, compared with a net loss of RM8 million in the previous period.
The revenue of Islamic banks increased to RM2,090 billion, compared to RM1,791 billion in the previous period.
Financial asset appreciation
Meanwhile, other operating income increased to RM2,868 billion, an increase of 66.8% compared to the previous RM1,719 billion, mainly due to an increase in the value of some financial assets.
These include higher unrealized returns brought about by the fair value measurement (FVTPL) revaluation of financial liabilities and financial investments, as well as increases in investment income and fee income.
This silver...
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Yang Zhongli Shuangxiong's stock price plummeted? Let's see what the market says about whether they should pick up the knife or not.
In which, $YTLPOWR(6742.MY$Yang Zhongli Electric's profit performance declined quarterly. Most investment banks believe that its stock price trend will also slow down, and they have downgraded the stock rating to “hold on” or “follow the market.”
Galaxy Securities analysts pointed out that due to a quarterly decline of 18% in the profit contribution of the Singaporean subsidiary Power Seraya in the 3rd quarter of fiscal year 2024 (up to the end of March) and the expansion of telecom business losses, Yang Zhongli Electric's net profit for the 3rd quarter also began to fall from its peak, falling 16% from quarter to quarter.
“Power Seraya's net profit performance began to return to normal in the 3rd quarter. At the same time, the telecom business faced the impact of the decline in project revenue and increased losses, which was enough to offset the narrowing of Wessex Water's losses and the contribution of the affiliate company to more profits.”
The analyst also said that Power Seraya's electricity retail revenue declined quarterly due to renewed power supply contracts, which offset higher electricity sales brought about by hot weather in the 3rd quarter.
As for the outlook, the analyst did not change Yang Zhongli Electric's future profit expectations. He still predicts that Power Seraya's profit will continue to fall back to normal levels, but the recovery in Wessex Water's performance, combined with contributions from the data center business beginning in the second half of fiscal year 2025, is expected to mitigate the impact of the decline in Singapore's power generation profits.
...
In which, $YTLPOWR(6742.MY$Yang Zhongli Electric's profit performance declined quarterly. Most investment banks believe that its stock price trend will also slow down, and they have downgraded the stock rating to “hold on” or “follow the market.”
Galaxy Securities analysts pointed out that due to a quarterly decline of 18% in the profit contribution of the Singaporean subsidiary Power Seraya in the 3rd quarter of fiscal year 2024 (up to the end of March) and the expansion of telecom business losses, Yang Zhongli Electric's net profit for the 3rd quarter also began to fall from its peak, falling 16% from quarter to quarter.
“Power Seraya's net profit performance began to return to normal in the 3rd quarter. At the same time, the telecom business faced the impact of the decline in project revenue and increased losses, which was enough to offset the narrowing of Wessex Water's losses and the contribution of the affiliate company to more profits.”
The analyst also said that Power Seraya's electricity retail revenue declined quarterly due to renewed power supply contracts, which offset higher electricity sales brought about by hot weather in the 3rd quarter.
As for the outlook, the analyst did not change Yang Zhongli Electric's future profit expectations. He still predicts that Power Seraya's profit will continue to fall back to normal levels, but the recovery in Wessex Water's performance, combined with contributions from the data center business beginning in the second half of fiscal year 2025, is expected to mitigate the impact of the decline in Singapore's power generation profits.
...
Translated
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$MAYBANK(1155.MY$ see you at RM9.70
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