Maxis 2nd quarter earning up by 14%

Filed Under (Business News) by Webmaster on 06-08-2013

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Maxis Bhd’s earnings rose 13.8% to RM528mil in the second quarter ended June 30, 2013 from the RM464mil a year ago based in higher data and wholesale revenues which offset a slight decline in mobile services revenue.

 

The company had on Tuesday rewarded shareholders with a tax-exempt dividend of eight sen a share which will go ex on Sept 4.

 

Maxis said its revenue rose at a smaller pace of 3.5% to RM2.294bil from RM2.216bil a year ago. Earnings were seven sen compared with 6.2 sen.

 

Maxis said for Q2 ended June 30, 2013 the mobile services revenue decreased RM33mil or 2% quarter-on-quarter largely due to lower voice and SMS revenue and outright device sales, which was compensated by increasing data and wholesale revenues. This resulted in average revenue per user (ARPUs) which were relatively stable across the board.

 

“Earnings before interest, tax, depreciation and amortisation (EBITDA) for mobile services grew by RM39mil or 4%, driving EBITDA margin to 52.7%, an improvement of 2.6% points from last quarter.

 

“The higher EBITDA was achieved through prudent cost management, relating to sales and marketing expenses, other operating costs and lower device related expenses,” it said.

 

Maxis said enterprise fixed services revenue reported lower revenue and EBITDA of RM5mil and RM4mil respectively driven by lower volume of business.

 

“International gateway services revenue increased marginally by RM3mil or 5% quarter-on-quarter due primarily to higher hubbing volume. EBITDA was RM1mil higher this quarter,” it said.

 

For the first half (H1 ended June 30, 2013), its earnings were RM1.003bil compared with RM1.036bil in the previous corresponding period. Its revenue rose 3.9% to RM4.621bil from RM4.445bil.

 

Maxis said year-on-year, mobile services revenue increased 2% or RM101mil. This growth was largely driven by non-voice revenue, recording an increase of 7.5% or RM145 million which was principally from higher mobile internet usage and higher device sales.

 

For the period under review, non-voice contribution was at 47.7% of mobile revenue, up 2.4% points over the same period last year.

 

“Blended ARPU for the quarter declined by RM3. Although there were incremental increases in data usage by both Prepaid and Postpaid customers, these increases were not able to fully compensate for lower voice and SMS usage. The RM4 decline in Wireless Broadband ARPU was a result of the uptake of lower priced subscription plans by our customers.

 

“EBITDA for mobile services increased RM17mil or 1%, on the back of higher revenues, However, EBITDA margin declined 0.8% point to end the period at 51.4%. This was caused by higher direct costs, mostly which were traffic and device related,” it said.

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BIMB Holdings Bhd proposed to acquire remaining 49% of Bank Islam

Filed Under (Business News) by Webmaster on 01-08-2013

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BIMB announce to Bursa the following:

PROPOSED ACQUISITIONS BY BHB OF THE REMAINING 49% ISSUED AND PAID-UP SHARE CAPITAL OF BANK ISLAM MALAYSIA BERHAD (“BANK ISLAM”) COMPRISING THE FOLLOWING:-

(A) 690,196,000 ORDINARY SHARES OF RM1.00 EACH IN BANK ISLAM (“BANK ISLAM SHARES”) HELD BY DUBAI FINANCIAL GROUP LLC (“DFG”), REPRESENTING APPROXIMATELY 30.47% OF THE ISSUED AND PAID-UP SHARE CAPITAL OF BANK ISLAM (“DFG BLOCK”), FOR A CASH CONSIDERATION OF UNITED STATES DOLLAR (“USD”) 550,000,000 (“PROPOSED ACQUISITION OF DFG BLOCK”); AND

(B) 419,894,000 BANK ISLAM SHARES HELD BY LEMBAGA TABUNG HAJI (“LTH”), REPRESENTING APPROXIMATELY 18.53% OF THE ISSUED AND PAID-UP SHARE CAPITAL OF BANK ISLAM (“LTH BLOCK”), FOR A CASH CONSIDERATION OF THE RINGGIT MALAYSIA (“RM”) EQUIVALENT OF USD334,603,069 (“PROPOSED ACQUISITION OF LTH BLOCK”);

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Malaysian Building Society Bhd income up 76%

Filed Under (Business News) by Webmaster on 31-07-2013

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mbsb

 

Malaysian Building Society Bhd’s (MBSB) earnings rose 76.3% to RM165.15mil in the second quarter ended June 30, 2013 from RM93.65mil a year ago, mainly due to the increase in net income from Islamic banking operations.

 

It said on Wednesday the strong results also saw the group’s net return on equity improve to 38.0% as at June 30, 2013 from 37.6% as at March 31, 2013 respectively.

 

MBSB’s revenue increased by 38.2% to RM614.29mil from RM444.47mil a year ago. Earnings per share were 9.78 sen from 7.70 sen.

 

For the six months period ended June 30, MBSB group achieved a pre-tax profit of RM484.7mil, up 107.9% or RM251.6mil from RM233.1mil in the previous corresponding period.

 

Its earnings rose 91.4% to RM331.29mil from RM173.07mil. Revenue rose to RM1.176bil from RM823.35mil.

 

“On a quarterly basis, the group’s pre-tax profit is recorded at RM247.6mil which is an increase of 4.4% and 101.9% from the first quarter 2013 and second quarter 2012 respectively. The improved financial results were mainly due to the increase in net income from Islamic banking operations,” it said.

 

MBSB president and CEO Datuk Ahmad Zaini Othman said: “The improved financial results were contributed by retail business. Nevertheless, our corporate business lending activities have also shown marked improvements with disbursements for the first six months of this year increased by 42.1% as compared to the same period in 2012″.

 

“We continue to improve on collections and recovery for both retail and corporate loans and have recently revised our strategies to target specific groups of assets.”

 

The group’s net NPL ratio stood at 3.2% as at 30 June 2013 from 4.5% as at Dec 31, 2012.

 

As at June 30, 2013, net loan, advances and financing stood at RM29.2bil, an increase of 20.2% as compared to RM24.3bil as at Dec 31, 2012.

 

On deposits from customers, Zaini said the deposits were RM26.6bil as at June 30, 2013 expanding by 23.8% from end-2012 of RM21.5bil.

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