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For the three-month period ended Sept 30, Genting reported a loss of RM344.5mil compared with a loss of RM130.7mil in the same quarter last year. Revenue was up at RM3.5bil versus RM3.3bil made a year ago. Its latest quarterly results showed that revenue contribution from its leisure and hospitality business in Malaysia tumbled 99% to just RM16mil from RM1.18bil, but its United States and Bahamas operations generated RM1.09bil in revenue compared with RM70mil a year ago. Maybank posts net profit of RM1.68bil in Q3
Malayan Banking Bhd (Maybank) posted a net profit of RM1.68bil in the third quarter ended Sept 30, 2021, a 13.71% decline from RM1.95bil in the previous corresponding quarter due to a reduction in fee-based income and higher impairment losses. Net operating income in Q3 however was 1.2% higher year-on-year (y-o-y) to RM6.15bil due to higher net fund-based income of 14.3% to RM4.72bil. For the nine months period ended Sept 30, 2021, the group recorded a net profit of RM6.04bil, marking a 22.16% improvement over the same period in 2020 while revenue slid 10.53% y-o-y to RM34.7bil. AEON registers RM18.6mil net loss in 3Q
Aeon Co (M) Bhd posted a net loss of RM18.7mil in the third quarter ended Sept 30 (3Q21) after four consecutive profitable quarters throughout the pandemic. Its revenue for the quarter stood at RM750.56mil, down 24.1% from RM989.62mil a year ago. In the first nine months, AEON's net profit jumped 51.6% to RM35.75mil against RM23.59mil, while revenue climbed to RM410.8mil compared to RM372.46mil previously. Bintai Kinden receives shareholders approval to acquire Johnson Medical
Bintai Kinden Corp Bhd has received the nod from shareholders at its extraordinary general meeting to acquire 100% equity interest in Johnson Medical International Sdn Bhd for RM50mil. It said in a statement the acquisition will be satisfied via a combination of RM26mil cash and the issuance of about 58.5 million new ordinary shares in Bintai Kinden at 41 sen each. The corporate exercise would allow Bintai Group to expand its existing customer base and widen its mechanical and electrical (M&E) engineering service offerings to include the healthcare services industry in Malaysia.
EPF to roll out new products to improve wellbeing of Malaysians
The Employees Provident Fund (EPF) is set to launch two facilities, i-Sayang and i-Lindung, next year as part of its effort to improve the wellbeing of Malaysians amid the Covid-19 pandemic. Ahmad Badri Mohd Zahir said the i-Sayang facility would be launched in the first quarter of next year, which would allow for the voluntary transfer of 2% EPF contributions from the husband's account to the wife's. Another launch by the country's largest retirement fund next year would be the i-Lindung facility, which would allow withdrawal from Account 2 to purchase life and critical illness insurance through the EPF platform.