Friday, July 27th, 2018

 

May’s Brexit blueprint shot down by Brussels

LONDON, July 27 — British Prime Minister Theresa May faces being hobbled by the EU’s rejection of key planks of her departure plan, stoking fears of a hard Brexit as calls grow for a second referendum. No sooner had May secured support for her…


US stocks edge up on strong GDP, lacklustre earnings

NEW YORK, July 27 — Wall Street stocks edged higher early today following a blowout report on second-quarter US economic growth that was partly offset by disappointing earnings from ExxonMobil, Twitter and others. About 25 minutes into trading,…


Fox shareholders approve Walt Disney’s US$71b deal

NEW YORK, July 27 — Twenty-First Century Fox Inc said today its shareholders voted to approve Walt Disney Co’s US$71 billion purchase of its film and television assets. Results were announced at a special shareholders’ meeting held in New…


Intel shares tumble as new chip technology seen pushed out later

SAN FRANCISCO, July 27 — Intel Corp, the world’s second-biggest semiconductor maker, fell as much as 8.4 per cent today after executives said a key new chip technology wouldn’t be out until late next year, prompting concerns the company could…


Twitter slumps 15.5pc on fears of lower user base

WASHINGTON, July 27 — Twitter shares took a pounding today as a warning of a shrinking user base overshadowed news of a best-ever quarterly profit. Shares in Twitter tumbled 15.5 per cent to US$36.26 in opening trade. Twitter said it posted a…


US economy grows at 4.1pc in second quarter, highest since 2014

WASHINGTON, July 27 — The US economy roared to life in the second quarter, posting the fastest annual growth rate in almost four years and the strongest among industrialised nations, according to government data released today. Gross Domestic…


Fearing hard Brexit, UK drugmakers stockpile to protect lives

LONDON, July 27 — Britain’s drugs industry said today it is stockpiling every medicine it makes to guard against a chaotic Brexit, but urged the EU to do more to protect patient lives on both sides of the Channel. The action by the Association…


Consumers, soybeans fuel US second-quarter growth

WASHINGTON, July 27 — The US economy grew at its fastest pace in nearly four years in the second quarter as consumers boosted spending and farmers rushed shipments of soybeans to China to beat retaliatory trade tariffs before they took effect in…


Maybank Indonesia posts lower earnings in first half of 2018

PETALING JAYA: Malayan Banking Bhd's (Maybank) Indonesian unit PT Bank Maybank Indonesia Tbk's net profit fell 6.6% to Rp932.7 billion (RM264 million) for the first six months ended June 30, 2018 compared with Rp998.5 billion in the previous corresponding period, due primarily to lower fee-based income and a slight compression in net interest margin (NIM).

The bank recorded a loans growth of 6% to Rp127.1 trillion as at June 30, 2018 from Rp119.9 trillion in the previous year. Its sharia business saw solid growth of 42.2% to Rp23 trillion, making up 18.1% of its total loans.

Asset quality improved significantly as reflected by lower gross and net non-performing loans (NPL) of 2.8% and 1.6%, respectively, as at June 30, 2018, compared with 3.6% and 2.4% in the previous year.

Net interest income registered a 2.5% growth to Rp3.9 trillion in June 2018 compared with Rp3.8 trillion in the previous corresponding period, but NIM was marginally lower at 5.1% in June 2018 from 5.3% a year ago. On a quarterly basis, NIM improved 28 basis points from 4.8% in the first quarter of 2018.

The capital adequacy ratio improved to 18.8% as of June 30, 2018 from 16.9% in the previous corresponding period with total capital reaching Rp24.7 trillion.

Maybank Indonesia president director Taswin Zakaria said the bank continue to focus on growing its assets selectively while maintaining the discipline in loan pricing to ensure sound asset quality going forward.

“Global banking continues to be the leading contributor to our asset growth; while our community financial services has now resumed an upward growth momentum as the bank sees opportunities in the retail and small medium enterprise segments. We expect to see further growth in this segment as we have recently embarked on our recalibrated retail business model.”


Twitter projects users to decline, profit short of estimates

SAN FRANCISCO, July 27 — Twitter Inc said monthly users dropped by 1 million in the second quarter, and predicted that number will decline further as the company continues to fight against spam, fake accounts and malicious rhetoric on its social…