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KUALA LUMPUR: Public Bank’s commitment to excellence saw it clinching a 15-year consecutive recognition as the “Best Bank in Malaysia” by Alpha Southeast Asia.
The recognition was accorded at the 15th Annual Financial Institution (FI) Awards recently, where it also won the “Best Retail Bank in Malaysia” award for the third year with the past two awards won in 2020 and in 2018 when they introduced the award.
Alpha Southeast Asia, was established in January 2007 and is the first and only institutional investment magazine based in Hong Kong focused on Southeast Asia (Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam).
Public Bank said unlike most mainstream financial magazines, the winners of the annual FI awards are not n
Read More »Perak Transit issues RM100mil Islamic notes under expansion plan
KUALA LUMPUR: Perak Transit Bhd issued a second tranche of RM100mil Islamic medium term notes (IMTN), of which UOB Malaysia and AmBank Group were the subscribers.
In a statement on Tuesday, it said the unrated Islamic securities were the second tranche under its RM500mil 15-year Sukuk Murabahah programme, the company’s first Shariah-compliant debt capital raising exercise launched in 2019.
The proceeds from the issuance will be used to finance its working capital requirement and capital expenditure for the development of the company’s new transportation terminal in Bidor, Perak.
Perak Transit said it embarked on developing new transportation hubs to expand its transportation network across major towns and cities within the state.
Under i
Read More »Banks to play critical role through lens of ‘3Rs’
This was in line with the key thrusts of Budget 2022, which will remain expansionary and conceptualised as a recovery budget.
"2022 will be a critical year for Malaysia, a rare window to jumpstart not just an economic recovery, but a recovery of industries, livelihoods and jobs, especially those hit hardest by the pandemic," he said during his keynote address at the Malaysian Banking and Finance Summit 2021.
"As the health of the financial sector is tied to the wider economy, it is crucial that the banking i
Read More »RHB contributes ICU ventilators to two Covid-19 hospitals
KUALA LUMPUR: RHB Banking Group, which has contributed over RM4mil towards the fight against Covid-19, has contributed Intensive Care Unit (ICU) ventilators to two hospitals in Selangor.
“The group has, as at to-date, contributed more than RM4mil towards the fight against Covid-19, working with governmental authorities and NGOs as well as providing humanitarian aid to families and individuals who have been impacted by the prolonged pandemic and Movement Control Order,” RHB said in a statement.
RHB group chief communications officer and RHB RHB Foundation CEO Norazzah Sulaiman said the bank’s contribution of ICU ventilators to Hospital Selayang and Hospital Ampang was part of its Covid-19 pandemic response to support the country’s continuous fight against Covid-19.
“It is our hope that the ventilators will help bolster the
Read More »Moody’s: Islamic banks’ retail finance focus helps weather pandemic
KUALA LUMPUR: Islamic banks in Gulf Cooperation Council (GCC) countries and South and Southeast Asia’s focus on low-risk retail finance, which will help protect their asset quality.
Moody's Investors Service said on Monday this was amid an uneven economic recovery across these regions.
Badis Shubailat, an analyst at Moody's, said regulatory forbearance has masked the deterioration in the banks' loan books, and high provisioning costs will continue to weigh on profitability, “but their capital and liquidity buffers should comfortably absorb unexpected losses".
“Consolidation within fragmented Islamic banking markets presents opportunities."
The report showed return on assets will remain on average below pre-pandemic levels this year bec
Read More »AmBank Islamic wins three at Global Banking & Finance Awards 2021
KUALA LUMPUR: AmBank Islamic Bhd recently garnered three awards at the Global Banking & Finance Awards 2021.
In a statement on Monday, it said this was the second consecutive year that AmBank Islamic has been named as the Best Islamic Corporate Bank Malaysia and the Best Islamic SME Bank Malaysia.
It said the chief executive officer (CEO) of AmBank Islamic, Eqhwan Mokhzanee, was awarded Islamic Banking CEO of the Year Malaysia for the third consecutive year.
AmBank Islamic chairman, Datuk Seri Abdul Hamidy Abdul Hafiz said: “We are truly honoured to be conferred with these prestigious awards which reflect our commitment towards customers, especially as we face the Covid-19 pandemic.
“We are also indeed heartened for the continuous re
Read More »CIMB Islamic Bank’s rider entrepreneur scheme empowers B40
KUALA LUMPUR: CIMB Islamic Bank Bhd’s commitment to empower the asnaf and B40 communities saw it recently organising a motorcycle handover ceremony for the first batch of 33 participants of the CIMB Islamic Rider Entrepreneur Programme.
“Supporting Bank Negara Malaysia’s iTEKAD umbrella of initiatives aimed at contributing to the economic empowerment of the asnaf and B40 communities, the programme was run in collaboration with Yayasan Belia Malaysia (YBM), Taylor’s Community and online food delivery service provider foodpanda,” it said in a statement on Monday.
At a virtual ceremony, the CEO of CIMB Islamic Ahmad Shahriman Mohd Shariff, was joined by YBM chairman Datuk Dr Suhaimi Ibrahim; the head, corporate communications and corporate social re
Read More »Cagamas clinches prestigious Islamic Issuer of the Year award
KUALA LUMPUR: Cagamas Bhd has reaffirmed its leadership position in its contribution towards the development and promotion of Islamic Finance when it clinched several awards recently at The Asset Triple A Islamic Finance Awards 2021 virtual ceremony.
The National Mortgage Corporation of Malaysia said on Monday it was honoured with the prestigious Islamic Issuer of the Year - Quasi-Sovereign (Issuer/Adviser) award.
It was also adjudged the Best Asean Sustainability SRI Sukuk - Quasi-Sovereign (Best in Sustainable Finance) and the Best Asean Sustainability SRI Sukuk - Quasi-Sovereign (Best Deals by Country) awards for its RM100mil Sustainability SRI Commodity Murabaha sukuk.
The awards were given in recognition of Cagamas’ strong performance during
Read More »Too early to predict | The Star
WHILE banking stocks have so far acted negatively to the Finance Ministry’s (MoF) instruction to get banks working on exempting interest payments for moratorium borrowers, observers say it is too early to predict the exact impact on banks.
“We await the announced outcome and allow banks to distil the impact and/or provide some pushback,” CLSA banking analyst Peter Kong tells clients in a report.
Hong Leong Investment Bank (HLIB) analyst Chan Jit Hoong says he is making no change to his earnings forecasts for banks at the moment “till we gather more updates from banks.”
It is understood that the banks themselves are awaiting more instructions from Bank Negara on the matter.
On Tuesday, the MoF said in a statement that it had instructed banking institutions to quickly work on exemption of interest rate payments for r
Read More »Bank Muamalat wins best deals by country award
Bank Muamalat was recognised for its role as the joint lead manager for the Malaysia’s landmark Sukuk deal issued by the largest local development financial institution, which clinched the award under the “Best Bank Sukuk” category.
Bank Muamalat president and chief executive officer, Khairul Kamarudin said the award reflects the continued trust and confidence of Bank Muamalat’s clients for its significant role in managing the fundraising exercise on their behalf.
“We appreciate all our clients’ trust and confidence in us to deliver despite these unprecedented times. The recognit
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