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Public Bank and Public Islamic Bank To Increase Its Loan / Financing Reference Rates By 0.25%
FOR IMMEDIATE RELEASE

9 September 2022
 
Public Bank and Public Islamic Bank To Increase Its Loan / Financing Reference Rates By 0.25%
 
Public Bank will increase its Standardised Base Rate (SBR), Base Rate (BR) and Base Lending Rate (BLR) / Base Financing Rate (BFR) by 0.25% effective 12 September 2022, in line with Bank Negara Malaysia’s Overnight Policy Rate (OPR) hike by 25 basis points from 2.25% to 2.50% on 8 September 2022. The Bank’s SBR will be 2.50% in tandem with the OPR while the BR will increase to 3.02% from 2.77% and the BLR/BFR will increase to 6.22% from 5.97%.
 
At the same time, Public Bank’s fixed deposit rates will also be adjusted upwards, effective on the same date.
 
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Public Bank and Sunway Property Signed MoU to Promote End-Financing for Green Development Projects
FOR IMMEDIATE RELEASE
 
5 September 2022

Public Bank and Sunway Property Signed MoU to Promote End-Financing for Green Development Projects
 
Public Bank Berhad (Public Bank) and Sunway Integrated Properties Sdn Bhd (Sunway Property) signed a Memorandum of Understanding (MoU) to collaborate on property financing for green and sustainable development projects.
 
Public Bank’s Managing Director and Chief Executive Officer, Tan Sri Dato’ Sri Dr. Tay Ah Lek said with this MoU, customers who purchase green-certified properties for both residential and non-residential properties developed by Sunway Property will get to enjoy Public Bank’s Special Sustainable Financing Package.
 
“Through this special package, customers will get to enjoy preferential pricing, fast lane approval and a financing option for customers who wish to purchase eco-friendly and energy efficient appliances, fixtures and fittings to further enhance the sustainability elements of their properties,” said Tan Sri Tay during the signing ceremony.
 
The MoU was signed with Sunway Property’s Managing Director, Ms. Sarena Cheah, in the presence of senior officers of both parties on 5 September 2022 at Menara Public Bank, Kuala Lumpur.

Tan Sri Tay said that this MoU is a momentous occasion aligned with Public Bank's sustainability mission to pursue Climate Action and contribute towards global climate solutions. "In line with Public Bank's commitment to be carbon neutral by the year 2030 and net-zero by 2050, the Bank will be mobilising RM40 billion in ESG-friendly financing by 2025, including making green building financing more accessible to customers", Tan Sri Tay added.
 
As the leading property financier in the country with a strong market share of 20.5% and 33.8% respectively in residential and non-residential properties financing as of June 2022, Tan Sri Tay said: “Public Bank is certainly well positioned to encourage green property ownership in the country.”
 
Expressing her support and enthusiasm of the MoU, Ms. Sarena Cheah in her speech said that the signing marks a milestone in both companies’ journey together towards a carbon-neutral Malaysia.
 
“We are confident that with this collaboration, we can synergise our strengths and deliver value to the larger community as well as drive the 2030 Agenda forward. We look forward to working with Public Bank to do well by doing good,” she concluded.
 
Sunway Property, in alignment with the Sunway Group, has set five ESG goals with 19 targets to fully support Malaysia’s transition to a low-carbon, climate-resilient economy by 2030, with sights set on net zero by 2050.
 
The first of these goals is to drive the transformation of Sunway Property’s developments into low-carbon, sustainable cities and aims to reduce emissions, achieve a set of resource efficiency targets, divert waste into landfills and certify industrial and construction sites amongst others, by 2030.
 
About Public Bank Berhad
 
Public Bank is the third largest banking group in Malaysia with total asset size of RM462.74 billion as at the end of 2021 and is the second largest company listed on Bursa Malaysia with total market capitalization of RM80.75 billion.
 
Public Bank has expanded its banking business in Malaysia and across the region, including Hong Kong, China, Cambodia, Vietnam, Laos and Sri Lanka. Today, the Public Bank Group has a wide network of 293 domestic branches and 150 overseas branches, with a combined staff force of over 19,000 people.
 
The Group has expanded the banking business to include a comprehensive suite of financial products and services, which comprises of personal banking, commercial banking, Islamic banking, investment banking, share broking, trustee services, nominee services, sale and management of unit trust funds as well as bancassurance and general insurance products.
 
Public Bank’s vision shapes its resilient business model of growth strategy within the retail banking space, which also steers Public Bank’s success story through the years, thus, giving rise to its outstanding performance among premier banks in Malaysia.
 
Public Bank Group is also a constituent of the FTSE4Good Index Series – FTSE4Good Bursa Malaysia Index, FTSE4Good ASEAN 5 and FTSE4Good Emerging Index, as assessed by global index provider FTSE Russell which measures the performance of companies demonstrating strong Environmental, Social, and Governance (ESG) practices.
 
About Sunway Property
 
Sunway Property is the property division of Sunway Group, Malaysia’s leading conglomerate with diversified interests that is listed on Bursa Malaysia and a constituent of the FTSE4Good Index Series. As a Master Community Developer, Sunway Property fulfils UNSDG 11 which is to make cities and human settlements inclusive, safe, resilient and sustainable. Sunway Property builds, owns, and operates integrated townships and developments of more than 5,000 acres across Malaysia, providing healthy, safe and well-connected ecosystems for communities to live, learn, work, play within. To date, it has an enviable portfolio with successful and internationally acclaimed properties in Malaysia and abroad, including China, Cambodia, Vietnam, and Singapore. For more information, visit www.sunwayproperty.com.
 
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From left, Dato’ Chang Kat Kiam, Deputy Chief Executive Officer, Public Bank, Tan Sri Dato’ Sri Dr. Tay Ah Lek, Managing Director and Chief Executive Officer, Public Bank, Ms. Sarena Cheah, Managing Director, Sunway Property and Mr. Chong Sau Min, Senior Executive Director, Sunway Property during the MoU signing ceremony.
 
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Public Bank Group Posted Pre-Tax Profit Of RM4.02 Billion For The First Half of 2022 and Declared 8.0 Sen First Interim Dividend
FOR IMMEDIATE RELEASE
 
29 August 2022
 
Public Bank Group Posted Pre-Tax Profit Of RM4.02 Billion For The First Half of 2022 and Declared 8.0 Sen First Interim Dividend
 
For the first half of 2022, the Public Bank Group registered a pre-tax profit of RM4.02 billion, growing by 6.0% compared with the corresponding period in 2021. The profit growth was driven mainly by higher net interest income as well as lower loan impairment allowances. Net interest income grew 3.4% to RM4.32 billion, underpinned by healthy loan and deposit growth, as well as improved net interest margin.
 
Net profit attributable to shareholders was lower at RM2.82 billion for the first half year ended June 2022, compared with RM2.91 billion in the corresponding period in 2021 due to the impact of the one-off prosperity tax.
 
Tan Sri Dato’ Sri Dr. Teh Hong Piow, the Founder, Chairman Emeritus, Director and Adviser of Public Bank said, “The transition to endemicity alongside the pick up in business activities and consumer sentiment have resulted in an improved business environment, further supporting the Group’s core banking business on loans and deposits.”
 
Tan Sri Teh added, “The Public Bank Group continues to manage its balance sheet and asset quality conscientiously to ensure adequate safeguards amid the ongoing economic challenges. For the first half of 2022, gross impaired loans ratio remained low at 0.3% despite the expiry of repayment assistance programmes under the PEMULIH scheme. The Group’s strong fundamentals and prudent management enabled the Group to continue sustain a resilient net return-on-equity of 12.0% and efficient cost-to-income ratio of 33.5%, which are well within the Group’s target for 2022.”
 
With that, Tan Sri Teh is pleased to announce that, “The Board of Directors is declaring a first interim dividend of 8.0 sen per share, which will result in a total dividend payout of RM1.55 billion, representing 55.2% of the Group’s net profit for the half year ended 30 June 2022. The first interim dividend will be paid on 23 September 2022 based on the dividend entitlement date of 14 September 2022.”
 
Loans and Deposits Businesses
 
During the first half of 2022, the Public Bank Group’s total loans recorded an annualised growth of 5.6% to RM368.0 billion, as compared with RM358.0 billion as at end-December 2021. Domestic loans grew at an annualised rate of 5.4% to RM343.6 billion, in line with the industry’s annualised growth rate of 5.4%. This was mainly attributed to the healthy growth of the Group’s key lending segments for residential properties and hire purchase financing.
 
“Despite the significant economic headwinds and intense competition in the market, the Group continued to sustain its domestic leading position in the residential properties, hire purchase financing and SME financing with market share of 20.5%, 30.5% and 20.5%  respectively,” Tan Sri Teh commented.
 
In terms of funding, the Group’s total customer deposits recorded an annualised growth of 4.1% to RM388.3 billion during the same period. Domestic deposits grew at an annualised rate of 3.6% to RM358.9 billion, as compared with the annualised industry growth of 4.0%. This was mainly attributed to the steady inflow of deposits, with the current and saving deposits growing by an annualised rate of 9.3%, and fixed deposits growing by an annualised rate of 6.0%.
 
Tan Sri Teh said, “The Public Bank Group’s liquidity and funding structure remained healthy with gross loan to fund and equity ratio of 81.0% as at 30 June 2022.”
 
 Non-Interest Income
 
For the first half of 2022, the Public Bank Group’s non-interest income was lower by 15.4% as compared with the previous corresponding period in 2021 due to the subdued market condition which affected the Group’s unit trust management and stockbroking businesses, as well as investment income. However, the Group’s unit trust business, undertaken by its wholly-owned subsidiary, Public Mutual remains the main contributor to the Group’s non-interest income.
 
Tan Sri Teh highlighted, “In the first half of 2022, Public Mutual recorded a pre-tax profit of RM392.2 million, contributing 9.7% to the Group’s profit. Despite the subdued market sentiment, Public Mutual continued to capture a large retail market share of 35.2%, with a total of 177 unit trust funds and total assets under management of RM92.1 billion.”
 
Cost Management
 
On the back of the resumption of more business activities, overhead expenses increased by 4.4% in the first half of 2022. The Group’s prudent cost management continued to sustain its cost-to-income ratio at an efficient level of 33.5%, significantly lower than the domestic banking industry’s cost-to-income ratio of 44.3%.
 
Tan Sri Teh highlighted, “Whilst the Public Bank Group continues to emphasise on effective cost management, the Group will continue to invest in digital transformation and staff development for long term productivity and cost efficiency.”
 
Asset Quality
 
As at the end of June 2022, the Public Bank Group’s gross impaired loans ratio remained low at 0.3%, well below the domestic banking industry’s average impaired loan ratio of 1.7%.
 
Tan Sri Teh further added, “Despite the resilient asset quality, the Group continued to maintain a prudent level of loan impairment allowance. As at the end of June 2022, the Group’s loan loss coverage ratio stood at 388.8%, significantly higher as compared with the banking industry’s loan loss coverage ratio of 108.5%. Including regulatory reserves, the Group’s loan loss coverage ratio was higher at 407.2%.”
 
Repayment Assistance Programme
 
Upon the expiry of PEMULIH repayment assistance programmes, about RM20.8 billion of the Public Bank Group’s domestic loans were still under the Group’s in-house repayment assistance as at the end of July 2022, accounting for 6% of the Group’s total domestic loans.
 
Tan Sri Teh said, “With the expiry of repayment assistance programmes under the PEMULIH scheme, the Group observed a stable repayment trend among its customers. Nevertheless, the Group is mindful of the ongoing challenges in the economy and will continue to provide assistance to customers who continue to face repayment difficulty.”
 
Overseas Operations
 
For the first half year ended June 2022, the Public Bank Group’s overseas operations contributed 6.5% to the Group’s profit. Public Financial Holdings Limited Group and Cambodian Public Bank (“Campu Bank”) continued to be the main contributors.
 
Tan Sri Teh said, “The Group’s Indochina operations grew at a faster pace, with Campu Bank and Public Bank Vietnam’s profit growing by 7.1% and 14.3% respectively as compared with the corresponding period last year. Moving forward, the Group will continue to step up its efforts to grow its Indochina business, riding on the good long term growth prospects and high potential of these emerging economies.”
 
Capital and Liquidity Position
 
As at the end of June 2022, the Group’s common equity Tier 1 capital ratio, Tier 1 capital ratio and total capital ratio stood at a healthy level of 14.1%, 14.2% and 17.2% respectively, while liquidity coverage ratio remained healthy at 113.7%.
 
Tan Sri Teh reiterated, “Challenges facing the banking industry are intensifying. The Public Bank Group will remain focused on sustaining a healthy capital and liquidity position for its business to continue thriving even in times of challenges.”
 
Group’s Prospects
 
The Malaysian economy remains on a recovery path, supported by improving domestic demand and sustained export growth. The transition to endemic phase with almost fully relaxed COVID-19 restrictions have further strengthened the recovery.
 
However, significant headwinds remain, stemming from global geopolitical conflicts, resurgence of COVID-19 cases, rising inflationary pressure and global supply chain disruptions.
 
Tan Sri Teh commented, “As the headwinds remain visible, the Public Bank Group will continue to embrace the challenges with focus on prudent cost and risk management. The Group’s strong balance sheet, resilient asset quality and good corporate governance practices would continue to provide support in strengthening the Group’s business with greater cost efficiency and operational productivity.” 
 
“Against this backdrop, the Public Bank Group will continue to remain cautiously optimistic in striving its business growth and ensure its stakeholders’ interests are safeguarded at all times,” Tan Sri Teh concluded.
 
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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 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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