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Public Bank and Gamuda Land Signed MoU to Offer a Sustainable Financing Package for Residential and Non-Residential Properties
FOR IMMEDIATE RELEASE

16 August 2022

Public Bank and Gamuda Land Signed MoU to Offer a Sustainable Financing Package for Residential and Non-Residential Properties
 
Public Bank and Gamuda Land signed a Memorandum of Understanding (MoU) to collaborate on property financing for green and sustainable development projects.

With this MoU, Public Bank has created a Special Sustainable Financing Package to promote end-financing for green and sustainable development projects by Gamuda Land. These residential and commercial projects cover those that have received or projects that will seek sustainability recognition from Green Building Index (GBI), GreenRE and other accreditation bodies.

Public Bank’s Managing Director and Chief Executive Officer, Tan Sri Dato’ Sri Dr. Tay Ah Lek said this MoU symbolises an advancement in Public Bank’s green growth journey.

“Public Bank Group has committed to achieve carbon neutrality by the year 2030 and net-zero by 2050. The Group is also committed to mobilise RM40 billion in ESG-friendly financing by 2025, including the financing of green-certified buildings,” Tan Sri Tay said during the signing ceremony.

The MoU was signed with Gamuda Land’s Chief Executive Officer, Mr. Ngan Chee Meng, in the presence of senior officers of both parties on 16 August 2022 at Menara Public Bank, Kuala Lumpur.
 
The Public Bank Special Sustainable Financing Package to end-finance projects from Gamuda Land will feature favourable pricing, fast lane approval and a financing option for customers to purchase eco-friendly and energy efficient appliances, fixtures and fittings to further enhance the sustainability of their green properties.

"With a strong market share of 20.5% and 34.0% respectively in residential and non-residential properties financing in Malaysia as of March 2022, Public Bank is thus well positioned to play its role in collaboration with Gamuda Land to drive the sustainability agenda of the property sector,” added Tan Sri Tay.

Tan Sri Tay also complimented Gamuda Land for achieving the "5 Diamonds" recognition for its Gamuda Cove township in the "Low Carbon City 2030 challenge" awarded by the Ministry of Environment and Water.

In highlighting the sustainability commitment of Gamuda Land, Mr. Ngan Chee Meng in his speech said that the Gamuda Green Plan (GGP) is a comprehensive framework charting tangible targets driven on environment, social and governance (ESG) dimensions for the next five years and beyond. The plan commits the group with specific steps to reduce direct and indirect greenhouse gas emission intensity by 30% in 2025 and 45% by 2030.

“Moving forward, all of Gamuda Land’s development locally and internationally will be green building certified. As such, it is indeed timely for us to work together with like-minded partners like Public Bank, who believes in pushing the envelope with the green agenda,” said Mr. Ngan.

Mr. Ngan added that Gamuda Land's sustainable developments and Public Bank’s commitment to make green financing more accessible, can together create a greener and brighter tomorrow for future generations.
 
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From left to right: Dato’ Chang Kat Kiam, Tan Sri Dato’ Sri Dr. Tay Ah Lek, Mr. Ngan Chee Meng and Mr. Chu Wai Lune

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Public Bank and Public Islamic Bank To Increase Its Base Rate By 0.25%
FOR IMMEDIATE RELEASE

7 July 2022

Public Bank and Public Islamic Bank To Increase Its Base Rate By 0.25%

Public Bank will increase its Base Rate (BR) and Base Lending Rate (BLR)/ Base Financing Rate (BFR) by 0.25% effective 8 July 2022, in line with Bank Negara Malaysia’s Overnight Policy Rate (OPR) hike by 25 basis points from 2.00% to 2.25% on 6 July 2022. The Bank’s BR will increase to 2.77% from 2.52% and the BLR/BFR will increase to 5.97% from 5.72%.

At the same time, Public Bank’s fixed deposit rates will be correspondingly increased by 0.25% across all tenures, effective on the same date.

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YX Precious Metals Bhd Debuts on The ACE Market
FOR IMMEDIATE RELEASE
 
23 June 2022
 
YX Precious Metals Bhd Debuts on The ACE Market

Public Investment Bank Berhad (PIVB) is the Principal Adviser, Sponsor, Sole Underwriter and Sole Placement Agent to YX Precious Metals Bhd (“YXPM” or “Company”), a wholesaler and manufacturer specialising in gold jewellery. YXPM has officially debuted on the ACE Market of Bursa Malaysia Securities Berhad this morning under the stock name of ‘YXPM’ and stock code of ‘0250’.
 
Speaking at the listing ceremony, the Independent Non-Executive Chairman of YXPM, Tan Sri Azlan Bin Mohd Zainol said, “As demonstrated from the public portion of our shares which was oversubscribed by 26.36 times, this strong interest from the members of the public will give us motivation to strive for better achievements in the coming years.”
 
The IPO exercise entails a Public Issue of 111.65 million new ordinary shares at an Issue Price of RM0.28 per share. Based on the Issue Price and the enlarged issued share capital of 372.15 million, YXPM has a market capitalisation of RM104.20 million.
 
With the listing, YXPM raised a total of RM31.26 million in proceeds. RM6.90 million or 22.07% of the total proceeds have been allocated to expand its hollow gold jewellery range and improve operational efficiency. RM20.86 million or 66.73% have been earmarked for working capital requirements to cater for future demand, while the remaining RM3.50 million or 11.20% will be used to defray listing expenses.
 
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Independent Non-Executive Chairman of YXPM Tan Sri Azlan bin Moh Zainol (third from left), Managing Director of YXPM Ms. Ng Sheau Chyn (third from right) and other Board of Directors of YXPM during its listing
 
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SFP Tech Holdings Berhad Successfully Debuts on The ACE Market of Bursa Malaysia Securities Berhad
FOR IMMEDIATE RELEASE
 
20 June 2022
 
SFP Tech Holdings Berhad Successfully Debuts on The ACE Market of Bursa Malaysia Securities Berhad
 
Public Investment Bank Berhad (PIVB) is the Principal Adviser, Sponsor, Sole Underwriter and Sole Placement Agent to SFP Tech Holdings Berhad (SFP Tech), a one-stop integrated engineering and automation solutions provider. SFP Tech was listed on the ACE Market of Bursa Malaysia Securities Berhad (Bursa Malaysia) and officially commenced trading under the stock short name of SFPTECH and stock code of 0251 at the opening of trading at 9.00 a.m. this morning.

Speaking after the listing ceremony, the Managing Director of SFP Tech, Mr. Keoh Beng Huat said, “As demonstrated from the public portion of our shares which was oversubscribed by 41.61 times, this is a strong testament from the public of our abilities and potential which we are greatly thankful for and we will continue to strive for better achievements and higher shareholders’ value in the coming years.”

Mr. Keoh further added, “SFP Tech’s listing today marks the beginning of a new chapter that awaits us as we bring SFP Tech to greater heights. We have developed a clear roadmap and hope to grow from strength to strength and create value for all our shareholders as we now embark on a more challenging growth trajectory aiming for better and higher returns to all our shareholders.”

The IPO exercise entails a public issue of 207.44 million new ordinary shares at an issue price of RM0.30 per share. Based on the issue price and the enlarged issued share capital of 800.00 million, SFP Tech has market capitalisation of RM240.00 million.

The IPO proceeds of approximately RM62.23 million will be predominantly utilised for its capital expenditure which includes the construction of Manufacturing Plant 3 in Penang Science Park and purchase of machineries. It will also be utilised for the setup of a design and development (D&D) centre.

Moving forward, SFP Tech plans to further expand both their engineering supporting services and automated equipment solutions into other industries such as the automotive and healthcare industry. The Group also intends to move into the semiconductor back-end inspection industry through the manufacturing of vision inspection equipment platforms embedded with camera imaging and electronics system.
 
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SFP Tech Holdings Berhad Managing Director, Mr. Keoh Beng Huat (six from left) with Mr. Lee Yo-Hunn, CEO of Public Investment Bank on his right, together with SFP Tech directors and management team after the listing ceremony on ACE Market of Bursa Malaysia
 
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Public Bank Group Posted Pre-Tax Profit of RM2.00 Billion for The First Quarter of 2022
FOR IMMEDIATE RELEASE
 
30 May 2022
 
Public Bank Group Posted Pre-Tax Profit of RM2.00 Billion for The First Quarter of 2022
 
Public Bank Group posted a pre-tax profit of RM2.00 billion for the first quarter ended 31 March 2022, recording 0.1% growth as compared with the corresponding period in 2021.

However, net profit attributable to shareholders declined by 8.6% to RM1.40 billion compared with RM1.53 billion in the corresponding period in 2021, primarily due to the imposition of the one-off prosperity tax introduced by the Government for 2022.

The domestic banking sector continued to face significant challenges stemming from the remaining effect of the COVID-19 pandemic. The downside pressure on the economy was compounded with global geopolitical tensions and conflicts.

Tan Sri Dato’ Sri Dr. Teh Hong Piow, the Founder, Chairman Emeritus, Director and Adviser of Public Bank said, “Overall, the operating environment still remains highly challenging. However, the Public Bank Group’s sound fundamentals, coupled with its strategic vigilance and agility, continued to enable the Group to sustain financial resilience.”

Tan Sri Teh added, “In the first quarter of 2022, the Public Bank Group continued to sustain a resilient net return-on-equity of 11.8% and efficient cost-to-income ratio of 33.2%.”
 
Steady Expansion in Loans and Deposits Businesses
 
As at the end of March 2022, the Public Bank Group’s total loans recorded an annualised growth of 5.3% to RM362.7 billion. Domestic loans grew stronger at an annualised rate of 5.9% to RM339.6 billion. This was mainly contributed by its retail sector, in particular financing for residential properties and hire purchase financing. Total loans approved rose by 14.0% in the first quarter of 2022, as compared with the corresponding period in 2021. As at the end of March 2022, the Group sustained its leading position in the residential properties, commercial properties and hire purchase financing with market share of 20.5%, 34.0% and 30.4% respectively.

In terms of funding, the Group’s total customer deposits recorded an annualised growth of 4.6% to RM384.8 billion. Domestic deposits grew at a same pace with annualised rate of 4.6% to RM356.7 billion.

Tan Sri Teh said, “The Public Bank Group’s financing growth remained well supported by its healthy funding structure, as reflected in its gross loan to fund and equity ratio of 80.7% as at the end of March 2022.”

Continued Support from Non-Interest Income
 
For the first quarter of 2022, the Public Bank Group’s non-interest income was lower by 10.9%, as compared with the previous corresponding quarter. This was mainly due to the decline in the Group’s income from its unit trust and stockbroking businesses as well as lower investment income arising from the unfavourable market condition during the quarter. However, the other banking related fee income remained stable.
 
Tan Sri Teh highlighted, “The Public Bank Group’s unit trust business, undertaken by its wholly-owned subsidiary, Public Mutual remains the main contributor to the Group’s non-interest income. Public Mutual recorded a pre-tax profit of RM202.0 million in the first quarter of 2022, contributing 10.1% to the Group’s profit. As at the end of March 2022, Public Mutual continued to capture a large retail market share of 35.4%, with a total of 177 unit trust funds and total assets under management of RM99.8 billion.”

Efficient Cost Management

For the first quarter of 2022, the Group recorded an increase of 1.5% in overhead expenses.
 
Tan Sri Teh said, “In pursuit of cost optimisation strategy, the Public Bank Group continues to adopt a prudent approach in managing its operating overhead. In the first quarter of 2022, the Group’s cost-to-income ratio remained at an efficient level of 33.2%, as compared with the domestic banking industry’s average of 48.1%.”
 
Resilient Asset Quality
 
As at the end of March 2022, the Public Bank Group’s gross impaired loans ratio remained low at 0.3%, well below the industry’s gross impaired loans ratio of 1.5%.
 
Tan Sri Teh added, “Despite its resilient credit profile, the Public Bank Group remained extra vigilant and continued to take a prudent approach in setting aside loan loss reserves. With the prudent preemptive provision being set aside since the start of the pandemic, the loan loss coverage of the Group is the most prudent amongst its peers. As at the end of March 2022, the Group’s loan loss coverage ratio stood at 382.5%, significantly higher as compared with the banking industry’s loan loss coverage ratio of 115.7%. Meanwhile, the Group’s loan loss coverage ratio inclusive of regulatory reserves was higher at 402.7%.”

Assistance for Customers Affected by the Pandemic
 
Since the onset of the COVID-19 pandemic in 2020, the Public Bank Group remained committed to assist individuals and businesses who faced repayment constraint by offering various flexible relief assistance packages. In addition, the Group also continued to provide various financing support to SMEs, including the various SME financing schemes initiated by the Government and Bank Negara Malaysia.

Tan Sri Teh added, “The Group has assisted about 24% of its borrowers with total loans amounting to more than RM80.0 billion under various Repayment Assistance Programmes. With the expiry of some of the loans under the PEMULIH repayment assistance scheme, the Group is still proactively providing further assistance to customers who continue to face financial constraints. As at the end of April 2022, about RM20.1 billion domestic loans were still under the Repayment Assistance Programmes, accounting for 6% of the Group’s total domestic loans.”

Overseas Operations
 
The Public Bank Group’s overseas operations contributed 7.5% to the Group’s profit, whereby Public Financial Holdings Limited Group (“PFHL”) and Cambodian Public Bank (“Campu Bank”) continued to be the main contributors.

Tan Sri Teh added, “In addition to the PFHL and Campu Bank, Public Bank Vietnam (“PBVN”) remained another key focus of the Group in growing its overseas operations.  In the first quarter of 2022, PBVN achieved a profit growth of 23.9%, as compared with the corresponding period last year.  In view of the good growth potential in Vietnam, the Group will continue to expand its branch network in Vietnam to a total of 32 branches by the end of 2022, subject to regulatory approval.”
 
Healthy Capital and Liquidity Position
 
As at the end of March 2022, the Group’s common equity Tier 1 capital ratio, Tier 1 capital ratio and total capital ratio stood at a healthy level of 14.3%, 14.4% and 17.4% respectively, while liquidity coverage ratio remained healthy at 126.2%.
 
Group’s Prospects
 
Malaysia’s proactive actions to contain COVID-19 is set to further stimulate the economy with the reopening of more social and economic sectors as well as international borders. Nevertheless, challenges surrounding the outlook remain due to external and domestic factors, such as the resurgence of COVID-19 variants and geopolitical tensions.

Tan Sri Teh commented, “With the economic recovery expected to gain further traction going forward, it will further stimulate sentiments on the ground, providing a more supportive environment for businesses.”

Tan Sri Teh concluded, “After two years into the COVID-19 pandemic, the Public Bank Group’s resilience to challenges has been further strengthened.  Coupled with its sound fundamentals built over the years, the Public Bank Group will remain in good stead to capitalise growth opportunities in the post-pandemic economy going forward. The Group will remain steadfast in pursuing its organic business strategy, improving cost efficiency and maintaining superior asset quality to support sustainable growth.”
 
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Y.Bhg. Tan Sri Dato' Sri Dr. Teh Hong Piow
Founder, Chairman Emeritus, Director and Adviser of Public Bank
 
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YX Precious Metals Bhd En Route to the ACE Market of Bursa Malaysia Securities Berhad
FOR IMMEDIATE RELEASE
 
30 May 2022
 
YX Precious Metals Bhd En Route to the ACE Market of Bursa Malaysia Securities Berhad
 
Public Investment Bank Berhad (PIVB) is the Principal Adviser, Sponsor, Sole Underwriter and Sole Placement Agent to YX Precious Metals Bhd (YXPM), a wholesaler and manufacturer specialising in gold jewellery. On 30 May 2022, YXPM launched its Prospectus pursuant to its Initial Public Offering (IPO) exercise in conjunction with its listing on the ACE Market of Bursa Malaysia Securities Berhad (Bursa Securities). YXPM is currently a 100% owned subsidiary of Tomei Consolidated Berhad, a company listed on the Main Market of Bursa Securities.
 
The Prospectus was launched by the Independent Non-Executive Chairman of YXPM, Tan Sri Azlan Bin Mohd Zainol, Managing Director of YXPM, Ms. Ng Sheau Chyn and Mr. Lee Yo-Hunn, Chief Executive Officer of PIVB together with YXPM’s Board of Directors at the One World Hotel, Petaling Jaya.
 
YXPM aims to raise RM31.26 million from this IPO to fund its expansion plans. The IPO comprises a public issue of 111.65 million new shares, representing 30% of YXPM’s enlarged issued share capital, at an issue price of RM0.28 per share.
 
22.07% of this RM31.26 million or RM6.90 million, has been earmarked for purchase of new machinery and equipment as well as upgrading of operational facilities, while 66.73% or RM20.86 million is allocated towards working capital requirements. The remaining 11.20% or RM3.50 million is to defray listing expenses.
 
Commenting on the launch of the IPO prospectus, Ms. Ng Sheau Chyn, the Managing Director of YXPM said, “This IPO exercise will allow us to take advantage of the surge in demand for gold jewellery over the past few years as we will be expanding our product portfolio to introduce a new range of hollow gold jewellery to the market. This is timely for us as global preference for gold jewellery has been shifting towards the more affordable and trendy hollow gold jewellery, particularly amongst the younger consumers.”
 
Ms. Ng further added, “Not only that, but we will also be implementing more automation within our manufacturing processes to enhance operational efficiency and reduce the reliance on manual labour for certain processes.
 
Mr. Lee Yo-Hunn, the Chief Executive Officer of PIVB said, “Throughout the many months of working alongside YXPM, I can see that it is evident that the Group led by its Managing Director, Ms. Ng Sheau Chyn, is scaling greater heights as she charts the future growth of YXPM. Having been with the Group for approximately 30 years, Ms. Ng has established a strong foundation for the Group under her stewardship, as she has played an instrumental role in growing the Group’s business to what it is today.”
 
“Presently, with a distinguished and highly capable Board of Directors led by Tan Sri Azlan Zainol as Chairman, we are confident that YXPM will grow from strength to strength and deliver a strong set of results to all its stakeholders,” added Mr. Lee.
 
Pursuant to the launch of YXPM’s prospectus, applications for the Public Issue are open from today and will close on 9 June 2022 at 5.00 p.m. YXPM is scheduled to be listed on the ACE Market of Bursa Securities on 23 June 2022.
 
Upon its listing on the ACE Market, YXPM will have a market capitalisation of RM104.20 million based on the issue price of RM0.28 per share and its enlarged issued share capital of 372.15 million shares.
 
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Ms. Ng Sheau Chyn, Managing Director of YXPM (3rd from left) and Mr. Lee Yo-Hunn, CEO of PIVB (3rd from right) together with Board Members of YXPM (from left to right) Ms. Aw Ee Leng, Ms. Wong Phait Lee, Tan Sri Azlan Bin Mohd Zainol, Datuk Ng Yih Pyng and Mr. Tang Yow Sai
 
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SFP Tech Holdings Berhad En Route to the Ace Market of Bursa Malaysia Securities Berhad
FOR IMMEDIATE RELEASE
 
27 May 2022

SFP Tech Holdings Berhad En Route to the Ace Market of Bursa Malaysia Securities Berhad
 
Public Investment Bank Berhad (PIVB) is the Principal Adviser, Sponsor, Sole Underwriter and Sole Placement Agent to SFP Tech Holdings Berhad (SFP Tech), a one-stop integrated engineering and automation solutions provider. SFP had on 26 May 2022, launched its Prospectus pursuant to its Initial Public Offering (IPO) exercise in conjunction with its listing on the ACE Market of Bursa Malaysia Securities Berhad (Bursa Securities).
 
The Prospectus was launched at the Pavilion Hotel Kuala Lumpur by the Managing Director of SFP Tech, Mr. Keoh Beng Huat and Mr. Lee Yo-Hunn, Chief Executive Officer of PIVB together with SFP Tech’s Board of Directors.
 
In conjunction with its listing on the ACE Market of Bursa Securities, the IPO entails a public issue of approximately 207.44 million new ordinary shares at an issue price of RM0.30 per share which will allow SFP Tech to raise proceeds of approximately RM62.23 million. The Public share comprises 40 million shares that will be made available for application by the Malaysian Public, 24 million shares will be available for application by the eligible directors, employees and persons who have contributed to the success of SFP Tech and its subsidiaries; while 100 million shares will be made available for application by way of private placement to Bumiputera investors approved by the Ministry of International Trade and Industry (MITI), Malaysia and the remaining 43.44 million shares will be made available by way of private placement to selected investors.
 
Based on the issue price of RM0.30 per share and the enlarged issued share capital of SFP Tech of 800,000,000 ordinary shares, upon listing on the ACE Market of Bursa Securities, the Company will have a market capitalisation of RM240 million.
 
Speaking at the launch, the Managing Director of SFP Tech, Mr. Keoh Beng Huat said, “We believe that this listing exercise will further enhance our corporate profile as we continue to seek for more opportunities to drive our future growth.”
 
Keoh further added, “We would continue to capitalise on our strengths to generate sustainable revenue from our existing businesses. Our strong fundamentals will put us in a solid position, and we are confident that we can deliver commendable performance in the coming years.”
 
Also speaking at the launch, Mr. Lee Yo-Hunn, Chief Executive Officer of PIVB said, “We are proud to bring such an established and esteemed company to the capital markets in Malaysia. We believe that the Group will continue to scale greater heights and create more value for all its stakeholders.”
 
Application for the public issue is open from 26 May 2022 and will close on 2 June 2022 while the Group is due to list on the ACE Market of Bursa Securities on 20 June 2022.
 
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Mr. Keoh Beng Huat, Managing Director of SFP Tech (4th from left) and Mr. Lee Yo-Hunn, CEO of PIVB (3rd from right) together with Board Members of SFP Tech (from left to right) Ms. Chan Foong Ping, Dr. Chang Chee Jia, CEO of SFP Tech, Dato’ Hamzah bin Mohd Salleh, Dato’ Cheok Lay Leng and Ms. Yeoh Su Hui

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Public Bank’s 56th Annual General Meeting Held On 23 May 2022
FOR IMMEDIATE RELEASE
 
23 May 2022
 
Public Bank’s 56th Annual General Meeting Held On 23 May 2022
 
In conjunction with Public Bank’s 56th Annual General Meeting held on 23 May 2022, the Founder, Chairman Emeritus, Director and Adviser of Public Bank, Tan Sri Dato’ Sri Dr. Teh Hong Piow is pleased to present a review of the Public Bank Group’s performance in 2021 and the Group’s strategic direction.
 
Performance Review
 
Tan Sri Teh said, “Despite various challenges faced in 2021 due to the COVID-19 pandemic, the Public Bank Group remained resilient and recorded pre-tax profit and net profit attributable to shareholders of RM7.37 billion and RM5.66 billion respectively in 2021, compared with RM6.29 billion and RM4.87 billion in 2020. The higher profit was mainly due to the low base effect in 2020 as well as positive loans and deposits growth achieved in 2021. Earnings per share increased from 25.1 sen in 2020 to 29.1 sen in 2021.”
 
Tan Sri Teh added, “In 2021, the Public Bank Group continued to outperform its banking peers. The Group is the most cost-efficient bank in Malaysia with the lowest cost to income ratio of 31.6%, as compared to the industry’s average cost to income ratio of 48.1%. In terms of asset quality, the Group remains the best amongst all Malaysian banks, with gross impaired loans ratio of 0.3%, compared to the industry’s average gross impaired loans ratio of 1.4%. The Group continued to sustain double digit net return on equity of 12.4%, which was well above the domestic banking peers’ average net return on equity of 8.9%.”
 
Tan Sri Teh further added, “Despite the challenging economic condition in 2021, the Public Bank Group was able to maintain a stable dividend payout. A second interim dividend of 7.7 sen per share was paid on 22 March 2022. Together with the first interim dividend of 7.5 sen paid in September 2021, shareholders would have received a total dividend of 15.2 sen for 2021, an increase from 13 sen for 2020.”

Total dividends paid amounted to RM2.95 billion or 52.2% payout of the Group’s net profit in 2021.
 
Proactive Assistance to Customers Affected by COVID-19 and Flood
 
The Public Bank Group remained committed to assist customers facing financial constraints amid the COVID-19 pandemic. Since the beginning of the pandemic, the Group has proactively engaged affected borrowers. 
 
Tan Sri Teh said, To date, the Public Bank Group has assisted about 24% of its borrowers with total loans of more than RM80.0 billion through various Repayment Assistance Programmes, benefitting 438,000 individuals and businesses.”
 
The Public Bank Group had also been actively promoting special financing schemes initiated by the Government and BNM to assist the SMEs in overcoming the COVID-19 challenges. Overall, the Group approved about RM3.4 billion for over 17,700 SME businesses under these special financing schemes.
 
Repayment assistance is not limited to only customers affected by the pandemic but also for customers who experience unfortunate events, such as floods. Recently, severe floods in several states in the country has affected many livelihoods. For customers who were affected by the floods, Public Bank has swiftly extended assistance to help them weather through their financial difficulties. To date, the Group has approved flood moratorium amounting to about RM1.8 billion.
 
Tan Sri Teh said, “Despite the expiry of some of the loans under the PEMULIH repayment assistance scheme, the Public Bank Group will continue to proactively provide further repayment assistance. The Group will also continue to provide financing support to SMEs.”
 
Healthy Loans and Customer Deposits
 
The Public Bank Group continued to focus on financing of residential properties and passenger vehicles as well as lending to SMEs for the purchase(s) of commercial properties and working capital financing.
 
Tan Sri Teh highlighted that, “The Group’s total gross loans and financing grew by 3.6% to RM358.0 billion in 2021, with domestic loans growing by 3.4%. The Group continued to sustain its leading position in the domestic retail financing with market shares of 20% and 34% in residential property and commercial property financing respectively, as well as 30% market share in hire purchase financing. The Group is also a leading SME financier with 22% market share in domestic SME financing.”
 
Tan Sri Teh added, “In terms of funding, the Group’s total customer deposits increased by 4.0% to RM380.4 billion in 2021, with domestic deposits growing by 4.5%. In particular, the Group’s low cost current and savings deposits recorded a strong growth of 11.7% during the year.”
 
Superior Asset Quality
 
Tan Sri Teh said, “The Public Bank Group’s gross impaired loans ratio of 0.3% as at the end of 2021, was well below the banking industry’s gross impaired loans ratio of 1.4%.”
 
The Group’s loan loss coverage ratio stood at 360.7%, significantly higher than the banking industry’s loan loss coverage ratio of 129.0%. With the inclusion of regulatory reserves, the Group’s loan loss coverage would be higher at 383.2%.

Continued Contribution from Non-Interest Income
 
Non-interest income was lower by 7.3% owing to the reduction in investment income amid unfavourable market condition in 2021. However, the unit trust business as well as fee and commission income expanded by 18.1% and 13.2% respectively in 2021, complementing the Public Bank Group’s profitability.
 
Tan Sri Teh said, “Public Mutual, a wholly-owned unit trust management company of the Public Bank Group, remained a major contributor to the Group’s non-interest income. In 2021, Public Mutual recorded a commendable profit growth of 22.8% and captured a market share of 34.6% in the retail private unit trust industry. As at the end of 2021, Public Mutual’s total assets under management stood at RM104.6 billion, with 177 funds under its management.”
 
Healthy Capital and Liquidity Position
 
The Public Bank Group’s Common Equity Tier 1 capital ratio and total capital ratio had further strengthened to 14.5% and 17.7% respectively as at the end of 2021, as compared with 14.0% and 17.1% a year ago. The Group’s Liquidity Coverage Ratio also stood at a healthy level of 127%, above the minimum regulatory requirement of 100%.
 
Tan Sri Teh said,The Public Bank Group will continue to be proactive in its capital and liquidity management in ensuring a healthy capital and liquidity position to support its long term growth as it pursues its strategic business objectives.”
 
Superior Returns to Shareholders
 
The Public Bank Group continues to deliver consistent and superior returns to its shareholders.
 
Tan Sri Teh highlighted, “An investor who bought 1,000 shares of Public Bank that was listed in 1967, and assuming that all rights issued were subscribed, he would now have 744,690 Public Bank shares worth RM3.4 million. Together with total gross dividend of RM1.7 million received and appreciation in share value, this would translate into an impressive compounded annual rate of return of 18.5% for each of the 54 years since 1967.”
 
Environmental, Social, and Governance (“ESG”)
 
The Public Bank Group is proactive in its role in ESG management. To further mitigate climate related risk, the Group has conscientiously been working on embedding climate-related considerations in its business strategies and risk management.
 
Tan Sri Teh said, “The Group is committed to the nation’s sustainability journey towards a climate-resilient economy. To this end, the Group has set new commitments to drive its sustainability goals. The Group targets to achieve RM40 billion ESG-friendly financing by 2025, of which RM25 billion financing is for purchases of energy efficient vehicles and RM15 billion financing is for affordable homes.”
 
Digital Initiatives
 
The Public Bank Group’s digital strategies are clearly mapped out in its multi-year digital roadmap which will pave the way forward for the Group to move ahead of the curve and remain competitive in the market.
 
Tan Sri Teh said, “In the area of digitalisation, the Group will continue to make significant investments in technology to drive innovation and maintain a competitive edge. To stay ahead, the Group has accelerated its digital initiatives and implemented its multi-year digital roadmap in light of fast moving digital and technology trends.”
 
The Public Bank Group has also collaborated with various solution providers to help its SME customers expand their businesses by enhancing their digital capabilities through various digital business solutions.
 
Over the years, the Public Bank Group has been constantly enhancing its digital platforms to provide enhanced features and better customer experience while catering to the increasing demand for online and mobile banking services. In 2021, the Group’s active subscribers to PBe and PB engage have increased by a commendable 10.6% and 27.1% respectively whilst the number of internet and mobile banking transactions grew by an impressive 27.4% and 89.6% respectively. Total transactions of PB enterprise, Public Bank’s corporate online banking, rose by an impressive 88.8% whilst new companies registered on PB enterprise increased by 53.7%.

Outlook
 
Since the pandemic started over the last two years, the Public Bank Group’s resilience to challenges has further strengthened. The Group is poised to deliver long term business value, supportive of the broader economic recovery in 2022.
 
On the Public Bank Group’s strategic direction and outlook, Tan Sri Teh commented, “Malaysia’s transition to the COVID-19 endemic phase is set to further stimulate key economic activities. This is supportive of the banking sector growth. Whilst the Public Bank Group is cautiously optimistic of the economic outlook, the Group remains mindful of the various domestic and external uncertainties which could affect the economy. The Group will continue to be vigilant and agile, balancing growth and risks amid the changing business environment to ensure long term sustainability.”
 
The Group’s strong balance sheet and solid asset quality will provide adequate buffer for the Group to weather against potential risks while it seizes opportunities that lie ahead.
 
Tan Sri Teh added, “The Group will continue to strive for business growth in its core business segments, maintaining prudent credit policies and further improving cost efficiency. Coupled with sound fundamentals, cost discipline culture and superior asset quality, the Group stands ready to pursue all business opportunities and continue generating value for its stakeholders.”
 
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Y.Bhg. Tan Sri Dato' Sri Dr. Teh Hong Piow
Founder, Chairman Emeritus, Director and Adviser of Public Bank

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Public Bank and Public Islamic Bank to Increase Its Base Rate by 0.25%
FOR IMMEDIATE RELEASE

12 May 2022

Public Bank and Public Islamic Bank to Increase Its Base Rate by 0.25%

Public Bank will increase its Base Rate (BR) and Base Lending Rate (BLR) / Base Financing Rate (BFR) by 0.25% effective 13 May 2022, in line with Bank Negara Malaysia’s Overnight Policy Rate (OPR) hike by 25 basis points from 1.75% to 2.00% on 11 May 2022. By this, the BR will be at 2.52% from 2.27% and the BLR/BFR will be at 5.72% from 5.47%.

At the same time, Public Bank’s fixed deposit rates will be correspondingly increased by 0.25% across all tenures, effective on the same date.
 
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YX Precious Metals Bhd Inks Underwriting Agreement with Public Investment Bank Berhad For Its IPO Exercise
FOR IMMEDIATE RELEASE
 
21 April 2022

YX Precious Metals Bhd Inks Underwriting Agreement with Public Investment Bank Berhad For Its IPO Exercise
 
YX Precious Metals Bhd (“YXPM” or “Company”), a wholesaler and manufacturer specialising in gold jewellery, has today penned an Underwriting Agreement with Public Investment Bank Berhad (“PIVB”) in conjunction with its upcoming initial public offering (“IPO”) on the ACE Market of Bursa Malaysia Securities Berhad (“Bursa Securities”). PIVB is the Principal Adviser, Sponsor, Sole Underwriter and Sole Placement Agent for this IPO exercise. YXPM is currently a 100% owned subsidiary of Tomei Consolidated Berhad (“Tomei”), a company listed on the Main Market of Bursa Securities.

The IPO exercise entails the public issue of 111.65 million new ordinary shares in YXPM, of which PIVB has agreed to underwrite 48.38 million shares. The 111.65 million new shares will be allotted and allocated as follows:
  • 18.61 million shares will be made available for application by the Malaysian public via balloting;
  • 11.16 million shares will be made available for application by eligible directors and employees of YXPM, directors and employees of Tomei and its subsidiaries, and any other persons who have contributed to the success of YXPM and its subsidiaries (“Group”);
  • 18.61 million shares will be made available for application by all entitled shareholders of Tomei;
  • 16.75 million shares will be made available by way of private placement to selected investors; and
  • 46.52 million shares will be made available by way of private placement to selected Bumiputera investors approved by the Ministry of International Trade and Industry, Malaysia. 
Commenting on the signing of the underwriting agreement, the Managing Director of YXPM, Ms. Ng Sheau Chyn said, “The signing of the agreement comes at an opportune time as the Group is ready to leverage on the increased demand for gold jewellery products. By transitioning into a listed entity, we hope to maintain our growth trajectory to take us to the next expansion phase. We plan to utilise the proceeds raised from the IPO exercise to purchase new machinery and equipment as well as upgrade our existing operational facilities to enhance our operational efficiency.”
 
Mr. Lee Yo-Hunn, the Chief Executive Officer of PIVB, said, “We are pleased to be given the opportunity to play a key role as the Principal Adviser, Sponsor, Sole Underwriter and Sole Placement Agent in bringing a reputable company such as YXPM to the ACE Market of Bursa Securities. We are confident that this IPO will allow the Group to grow from strength to strength and we look forward to working closely with them as they transit to the next chapter of their business expansion plans.”
 
The Company is slated to list on the ACE Market of Bursa Securities by the end of June 2022.

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YX Precious Metals Bhd Managing Director Ms. Ng Sheau Chyn (left) and Public Investment Bank Berhad Chief Executive Officer Mr Lee Yo-Hunn (right)

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