PETALING JAYA: PT Bank Maybank Indonesia Tbk’s (Maybank Indonesia) profit after tax and minority interests (patami) for the financial year ended Dec 31, 2018 surged 21.6% to a new high of Rp2.2 trillion (RM640 million) on the back of higher net interest income (NII) and continued improvement in asset quality.
The bank’s profit before tax (PBT) jumped 20.5% to a record Rp3 trillion, its highest achievement to date, while NII grew 5.2% to Rp8.1 trillion in December 2018 compared with Rp7.7 trillion in the previous corresponding period, it said in a statement today.
Additionally, it said continuous implementation of disciplined pricing coupled with improved operational efficiencies enabled the bank to contain pressures on interest margin, resulting in improvement in net interest margin by 7 basis points (bps) to 5.2%.
The bank’s asset quality also improved significantly as reflected by lower non-performing loan (NPL) levels of 2.6% (gross) and 1.5% (net) as at Dec 31, 2018 compared with 2.8% (gross) and 1.7% (net) respectively in the previous year.
Following that, Maybank Indonesia was able to reduce its loan loss provisions by 38.6% to Rp1.3 trillion as of December 2018.
Its loans grew 6.3% to Rp133.3 trillion from Rp125.4 trillion in the previous year.
It also maintained a strong capital position with total capital reaching Rp26.1 trillion in FY18, while capital adequacy ratio (CAR) improved to 19% from 17.5%.
Maybank Indonesia president commissioner and Maybank group president and CEO Datuk Abdul Farid Alias said the bank’s outstanding results for FY18 testify to its commitment towards sustainable business growth, as well as its relentless pursuit in ensuring sound asset quality, improved operational efficiency and better overall productivity.
“Although the operating environment continues to remain challenging, we believe that we are poised for further growth in the coming year,” he added.
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PETALING JAYA: Berjaya Food Bhd’s second quarter net profit ended Oct 31 was 21.0% higher due to higher profit contributions from Starbucks Coffee operations in tandem with the higher revenue achieved.
In addition, the group had ceased consolidation of the losses from its Kenny Rogers Roasters (KRR) operations in Indonesia following its disposal in the previous financial year.
The group made a net profit of RM7 million for the quarter under review, compared with RM5.8 million for the corresponding quarter in the preceding year.
This was on 35.9% higher revenue of RM166.6 million, compared with RM160.8 million for the corresponding quarter in 2017 mainly due to the same-store-sales growth recorded by Starbucks as well as additional Starbucks cafes operating in Malaysia.
The board has recommended a second interim dividend of one sen per share in respect of the financial year ending April 30, 2019 to be payable on Jan 25, 2019. The entitlement date has been fixed on Jan 9, 2019. Total dividend declared for the financial period ended Oct 31 amounts to two sen per share.
The group is engaged in developing and operating the Starbucks Coffee brand in Malaysia and Brunei, developing and operating the KRR chain in Malaysia as well as Jollibean and two other brands in Singapore.
The key factors that affect the performance of all food and beverage businesses include mainly the festive seasons, tourism, eating out culture, raw material costs, among others.
The board believes that the renewed consumer confidence level, coupled with the group’s expansion plans, will fuel the group’s business growth and should augur well for the group’s operations going forward.
For the cumulative six month period ended Oct 31, the group posted a net profit of RM13.3 million, compared with RM11.2 million for the same period in 2017.
This was on 4.1% higher revenue of RM328 million, compared with RM315.2 million for the same period in 2017.
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