Media Release

FOR IMMEDIATE RELEASE

7 October 2022
 

In the face of an increasingly volatile global economic landscape, we applaud the Government’s vision in setting out our nation’s near and medium-term course with a well-planned Budget 2023. It strikes the right balance between on-going prioritisation of the Rakyat’s well-being while guarding against potential challenges, and also sustaining Malaysia’s post-pandemic growth.

The Public Bank Group has played its role steadfastly in actively facilitating growth through the years. Our efforts will be intensified further as Malaysia continues to transition toward becoming a high-income nation. Budget 2023’s spirit of inclusiveness reflects the Government’s promise of leaving no one behind. The Government’s planned expenditure of a notably higher RM372.3 billion in 2023 with 37.2% allocated for programmes and projects under the social sector shows its resolve and commitment in reducing the income gap between the Rakyat and the development gap among the states. This will help ensure Malaysia progress successfully and sustainably as a nation.

Budget 2023 adequately addresses the current needs of the B40 and M40 groups through various cash assistance programs with widened eligibility criteria, tax incentives for home ownership and extension of employment-related initiatives, amongst others. Micro, Small and Medium-sized Enterprises (MSMEs) will also be supported through access to traditional and alternative financing options, tax incentives and extension of grants, amongst others. Issues like food security and preparedness for natural disasters were also addressed, in addition to infrastructure spending covering healthcare and education, and digital infrastructures to address development and digital gaps.

We read, on a daily basis, of the stark realities of an environment increasingly ravaged   by the negative and far-reaching effects of climate change. Much progress has been made, but more will still need to be done. We laud the Government’s renewed focus on sustainability-based initiatives in Budget 2023, with more emphasis given toward enhancing green investments for the development of low-carbon, resilient and healthy urban environments. To this end, the Government’s higher expenditure of RM95 billion for development in 2023 will see allocations channelled to programmes and projects with high socio-economic impacts in line with the United Nation’s Sustainable Development Goals (SDG). The Public Bank Group has already embarked on this journey and reaffirms its commitment in partnering the government and various stakeholders toward advancing these agendas.

We are fully supportive of Budget 2023 which is expansionary but necessary in current times to sustain the post-pandemic recovery of the nation. We are confident that the continued partnership of the public and private sectors will enhance the resilience of our economy and strengthen our recovery, while enhancing the well-being of the Rakyat.

Y.Bhg. Tan Sri Dato' Sri Dr. Teh Hong Piow
Founder, Chairman Emeritus, Director and Adviser of Public Bank

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FOR IMMEDIATE RELEASE

29 September 2022
 

The five key measures to combat scams announced by the Governor of Bank Negara Malaysia, Tan Sri Nor Shamsiah binti Mohd Yunos at the Financial Crime Exhibition 2022 held on 26 September 2022 will effectively raise the level of online banking security, Public Bank said in a statement today.
 
Public Bank’s Managing Director and Chief Executive Officer, Tan Sri Tay Ah Lek said Public Bank will continue to emphasise on banking security for customers to ensure that all customers can conduct their online banking transactions in a secure and safe environment.
 
Public Bank has taken further steps to address the rising trend of frauds and scams including providing 24 hours assistance to customers via its Case Management Unit. “The unit is staffed with specially trained and experienced staff to provide the necessary and timely assistance to affected customers. As time is of the essence, Public Bank’s staff will be available to assist you 24/7,” Tan Sri Tay said.
 
Upon receiving a fraud or scam report, access to the customer’s PBe Internet Banking and PB engage Mobile Banking will be terminated immediately. This will prevent further unauthorised transfers while the Bank expedite recovery of stolen funds.
 
To further empower customers, since March this year, customers can also self-deactivate their access to PBe Internet Banking and PB engage Mobile Banking under such circumstances via the PBe login page. Reactivation can only be done at the branch or by the staff at the Case Management Unit with the necessary verifications.
 
Staying vigilant is vital and Public Bank has also stepped up its efforts to protect customers’ accounts by introducing a series of counter measures in its fraud detection and prevention system based on the evolving modus operandi of frauds and scams. The system will flag out suspicious and abnormal transactions performed on customers’ account and they are constantly reviewed to determine the effectiveness. Customers transferring to any new beneficiary via PBe and PB engage will also be prompted with a warning message to alert customers to be extra cautious before proceeding with the transfer.
 
In addition, Public Bank has deployed a more secure authentication method via mobile app security token known as PB SecureSign (PBSS) on the PB engage Mobile Banking since August 2020 that can counter one of the fraud tactics by scammers using the Android Package Kit (APK).
 
The PBSS can only bind to one mobile device with a stringent activation process where customers who have registered PBSS on their PB engage are required to activate it via Branch, ATM or by contacting PBe Customer Support.
 
Public Bank will also enable transaction approval via PB SecureSign app (PBSS) for PBe Internet Banking by October 2022. Similar to PB engage, customers with PBSS activated can approve transactions in a more secure authentication method. This will replace the PBe Authentication Code (PAC) via SMS which will eventually be phased out.
 
Since 2017, Public Bank has maintained a record of about 100,000 reported mule accounts of the industry. Based on this mule database, for the first half of 2022, approximately 500,000 of our customers’ accounts were prevented and saved from the attempted fraudulent transfers of close to RM900 million to these mule accounts.
 
Public Bank is fully committed to work steadfastly with all parties to combat this security threat and has also embarked on intensive education efforts to keep customers updated of the latest trend and evolving modus operandi of frauds and scams happening.
 
These education efforts also include raising customer awareness on the importance of being vigilant at all times by NOT clicking on UNKNOWN links, safeguarding their privacy and banking information, being careful with suspicious apps before installing them to ensure that their devices remain secure at all times and other precautions needed to safeguard customers from frauds and scams.
 
Customers can visit Public Bank’s Online Security microsite at  https://www.pbebank.com/onlinesecurity/index.html and by staying informed, will help to keep scams and frauds at bay. Meanwhile, in the event a fraud took place or if customers noticed any irregularities in their bank accounts, they can contact the Case Management Hotline at 03-2177 3555 to seek assistance.

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 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.
 

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 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.

 

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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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.

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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FOR IMMEDIATE RELEASE

20 June 2022
 

FOR IMMEDIATE RELEASE

30 May 2022
 

Public Bank Group Posted Pre-Tax Profit of RM2.00 Billion for The First Quarter of 2022

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.

FOR IMMEDIATE RELEASE

30 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.

Mr. Keoh Beng Huat, Managing Director of SFP Tech (4^th from left) and Mr. Lee Yo-Hunn, CEO of PIVB (3^rd 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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FOR IMMEDIATE RELEASE

23 May 2022
 

Public Bank’s 56th Annual General Meeting Held On 23 May 2022
 
In conjunction with Public Bank’s 56^th 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.”

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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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:

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.

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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21 April 2022
 

SFP Tech Holdings Berhad Inks Underwriting Agreement with Public Investment Bank Berhad For Its IPO Exercise
 

SFP Tech Holdings Berhad, a one-stop integrated engineering and automation solutions provider is en route for a listing on the ACE Market of Bursa Malaysia Securities Berhad, has today penned an Underwriting Agreement with Public Investment Bank Berhad for its Initial Public Offering (IPO) exercise.
 
The IPO exercise entails a public issue of approximately 207.44 million new ordinary shares, where there will be 40.00 million shares available for application by the Malaysian public, 24.00 million shares available for application by the eligible directors and employees of the Company and its subsidiaries and other persons who have contributed to the success of the Group, while 100.00 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, Malaysia and the remaining 43.44 million shares will be made available by way of private placement to selected investors.
 
Pursuant to the Underwriting Agreement, PIVB will underwrite a total of 64.00 million shares made available for the Malaysian public, the Group’s eligible directors and employees, and other persons who have contributed to the success of the Group.
 
PIVB, besides being the Sole Underwriter of SFP Tech’s IPO, is also the Principal Adviser, Sponsor, Sole Underwriter and Sole Placement Agent for this exercise.
 
Commenting after the signing ceremony, Group Managing Director of SFP Tech, Keoh Beng Huat said, “We are delighted that SFP Tech has reached yet another corporate milestone and we are very blessed to be at this point of our corporate growth. We are grateful to have the support of PIVB as our sole underwriter for our IPO, which signals a strong sense of confidence towards SFP Tech. We believe this listing exercise would enable SFP Tech to strengthen our public profile and amplify market awareness of our businesses especially on the provision of integrated engineering and automation solutions.”

Keoh further added, “The proceeds to be raised from the IPO exercise would be mainly utilised for our Group’s business expansion which includes the construction of our third manufacturing plant in Penang Science Park, and the purchase of new machinery and equipment. These plans form part of our strategies to grow our Group in the provision of integrated engineering and automation solutions to our customers.”
 
Also at the ceremony, Chief Executive Officer of PIVB, Lee Yo-Hunn 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 like SFP Tech Holdings Berhad to the ACE Market of Bursa Securities. With the Company’s growth strategies in place, we are confident that this IPO will strengthen SFP Tech’s financial position as it embarks on its next phase of their business expansion plans.”
 
Barring any unforeseen circumstances, the Company is expected to launch its Prospectus by the end of May 2022.

SFP Tech Holdings Berhad Managing Director Mr. Keoh Beng Huat (left) and Public Investment Bank Berhad Chief Executive Officer Mr. Lee Yo-Hunn (right)

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18 April 2022
 

Public Bank Recognised for its Contribution in e-Payments

Public Bank Berhad’s commitment towards the nation’s e-payment ecosystem is recognised once again with the two awards - The Best MyDebit Bank and Best MyDebit (Acquirer – Bank) awarded during the Malaysian e-Payments Excellence Awards (MEEA) 2022.
 
MEEA is organised annually by Payments Network Malaysia Sdn Bhd (PayNet) to recognise outstanding achievements of banks, businesses and government agencies that have contributed significantly towards excellence, innovation and growth of e-payments in Malaysia.
 
Having won multiple e-payment awards throughout the years consistently, Public Bank is recognised for its efforts and taking The Best MyDebit Bank in Malaysia award for instance, was awarded to Public Bank for the sixth consecutive year.
 
PayNet, which is the nation’s network and shared central infrastructure provider for Malaysia’s financial markets, in its congratulatory letter said: “Public Bank’s commitment and holistic efforts to drive usage, acceptance, reliability, customer engagement and experience have made a significant impact in propelling e-Payments in Malaysia to greater heights.”
 
Ensuring customers’ banking needs are met through the use of e-payment systems is part of Public Bank’s digitalisation initiatives focusing on customers’ convenience while ensuring security of its products and services.

Public Bank’s commitment to service excellence is seen with the uninterrupted service throughout the various movement restrictions due to the COVID-19 pandemic and this commitment continues with the gradual economic recovery, elevating customer experience further in the new normal.

As the first bank in Malaysia to accept cross border QR payments from Thailand and Indonesia, Public Bank remained at the forefront of e-payments services with this timely offering as it also helped to curb the spread of COVID-19 by reducing physical contact between buyers and traders.
 
This service continue to remain relevant with the opening of international borders where travellers from Thailand and Indonesia can opt to make payments to participating PBe QR merchants using their respective home country’s bank accounts.
 
This is further supported with Public Bank’s latest secured online payment solution – DuitNow Online Banking/Wallets launched early this year to further support the growing needs of a cashless economy.
 
DuitNow Online Banking/Wallets supports merchants in facilitating real-time payment acceptance via both online banking and eWallets and is a step forward by creating a more seamless payment experience involving various gateways, something that customers will appreciate.
 
Public Bank will continue to provide full support to boost the country’s migration to electronic payments by launching more e-Payment initiatives while continuously enhancing its digital banking platform.
 
In addition, Public Bank recognises the need for businesses to transform and digitalise their business operations in order to thrive in the new normal and supporting businesses in their digitalisation journey, Public Bank offers its corporate customers with the PB enterprise Digital SME Assist Program.
 
Through this exclusive collaboration with various digital partners with expertise in the fields of accounting, human resource management, telecommunications and others, Public Bank’s corporate customers can enjoy exclusive privileges ranging from discounts and rewards on various digital business solutions. Corporate customers will also be able to stay up to date with the latest development of the industry with a series of webinars.
 
Hence with a holistic approach to support its customers, Public Bank continues to offer services that would assist its corporate customers to accelerate their growth by enhancing their digital capabilities in tandem with their business expansion.
 
To find out more, customers are welcomed to visit any of Public Bank’s branches, log on to the website at www.pbebank.com or call the toll free phone at 1-800-22-9999 during normal working hours. Terms and conditions apply.

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18 March 2022
 

Public Bank and Carsome Sign MoU for Car Financing Collaboration
 
Public Bank and Carsome officially signed a Memorandum of Understanding (MoU) for greater business collaborations on 18 March 2022 at Menara Public Bank, Kuala Lumpur.
 
The agreement was inked by Public Bank’s Managing Director/Chief Executive Officer, Tan Sri Dato’ Sri Tay Ah Lek and Carsome’s Co-Founder and Group Chief Executive Officer, Eric Cheng Kee Choon.
 
With this MoU, the Bank will be able to provide stock-financing and end-financing arrangement for the vehicles to its member Car Dealers and individual purchasers who have won the bids through Carsome online platform, as well as to extend wholesome financial products/services to Carsome’s customers.
 
According to Tan Sri Tay Ah Lek, Public Bank through this collaboration aims to offer comprehensive financial services solution namely PB Current Account, PB Enterprise, Cash Management and Credit Card Merchant Service with preferential terms to Carsome and its member Car Dealers.
 
Tan Sri Tay Ah Lek said, “This synergistic collaboration is in line with Bank Negara Malaysia’s initiatives to accelerate the digitalisation of financial services, which include supporting the overall development of a dynamic fintech ecosystem in Malaysia. This collaboration will enable Public Bank to interface with Carsome’s online platform to provide a more efficient and seamless vehicle financing delivery system, thus further reducing processing time as well as minimising physical documentation for the financing of successful bidding of vehicles. Through this collaboration, Public Bank is confident to further improve our market share in the vehicle financing segment”.
 
“Being a leading financier in the automobile industry, Public Bank’s strong infrastructure will bring mutual benefits to this new relationship with Carsome. And Carsome will be able to leverage on our wide network of branches and HP Centres which are strongly supported by the trust in our PB Brand to extend market acceptance of its platform,” added Tan Sri Tay.
 
Public Bank is committed to support Malaysia’s transformation to digitalisation and will continue to initiate new or improve existing efforts in the future.
 
Eric Cheng, Carsome Co-founder & Group CEO said, “We are thrilled to be working with Public Bank, an established banking institution in Malaysia to offer financing solutions to our customers and dealer-partners. Our vision has always been to create an end-to-end integrated online used vehicle ecosystem; our partnership with Public Bank brings us one step closer to that, as we are able to give more financing options to our customers and dealer-partners when they transact with us.”

Carsome is Southeast Asia’s largest car e-commerce platform with operations across Malaysia, Indonesia, Thailand and Singapore. The company provides end-to-end solutions to consumers and car dealers, from car inspection to ownership transfer to financing, promising a service that is trusted, convenient and efficient.

Tan Sri Dato’ Sri Tay Ah Lek (second from the right) exchanging the MoU with Eric Cheng (second from the left) witnessed by Dato' Chang Kat Kiam (right) and Aaron Kee (left)

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15 March 2022
 

Planning for Your Children’s Future Starts with Public Bank
 

FOR IMMEDIATE RELEASE

7 March 2022
 

Public Bank Remains Proactive in Supporting the Nation’s Post Pandemic Recovery
 
Amid the ongoing significant disruptions brought about by the COVID-19 pandemic, Public Bank has continued to prioritise supportive measures to help its customers and the community to navigate the prevailing challenges.
 
“Public Bank has been proactive in providing support to its customers since the beginning of the pandemic and will continue to provide repayment assistance to those affected by the pandemic while supporting the nation’s economic recovery,” said Public Bank Managing Director and Chief Executive Officer, Tan Sri Tay Ah Lek.
 
In this highly challenging operating environment, Public Bank’s financial resilience and solid foundation built over the years have enabled the Bank to continue serving the nation.
 
Ongoing Assistance for Customers Affected by the Pandemic and Floods
 
As at the end of 2021, about 438,000 customers with total loans of about RM83 billion have received COVID-19 repayment assistance to manage their debt burden. Public Bank has consistently reached out to its customers to ensure that those in need of financial assistance receive the necessary help. The Bank has also set up various engagement channels, such as digital platforms and special repayment assistance helpdesk lines to provide more efficient assistance to affected customers and to keep them promptly updated with the various repayment assistance available.  
 
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. Public Bank has remained committed to provide relief to help the affected customers to weather their financial difficulties. Since 2016, the Bank has approved flood moratorium of about RM2.5 billion for close to 13,000 customers. The Bank is fully committed to continue providing relief to its customers whenever the need arises.
 
Providing Support to the Backbone of the Economy

Small and medium sized enterprises (SMEs), which is known to be the backbone of the economy, continue to receive undivided attention from Public Bank.

Public Bank is one of the major financiers supporting SME growth. As at the end of 2021, the Bank’s domestic SME financing portfolio stood at RM67.9 billion with a market share of about 21%.

Public Bank’s support for the SMEs remains unwavering during the COVID-19 pandemic where about RM3.4 billion of financing has been approved under special schemes initiated by the Government and Bank Negara Malaysia (BNM), benefiting more than 17,000 SMEs during this unprecedented period.

“Every single ringgit of financing that goes to SMEs will have a high multiplier effect, from the purchase of raw materials to paying employees’ salaries and eventually contributing taxes to the Government. Public Bank, as one of the main SME financiers in the country, will continue to provide financing access to SMEs in support of the nation’s economic recovery,” Tan Sri Tay said.

Promoting Greater Financial Inclusion For Households

As the largest financier of residential property in the country, Public Bank has over the years been consistently supporting home ownership, particularly affordable housing for the mass market.
 
Since 2016, Public Bank has approved more than RM35 billion for the financing of residential property costing below RM450,000.
 
The Bank’s effort in supporting affordable housing remained unfaltering during the pandemic, with more than RM7.7 billion loans approved for 27,000 customers in 2021 to support them to own a home. During the year, about 57% of the Bank’s newly approved housing loans was for the purchase of property costing RM100,000 to RM500,000.
 
Holistic Approach in Contributing to the Nation’s Economic Recovery
 
As a responsible corporate citizen, Public Bank has been consistently contributing taxes as well as providing consistent dividend payout to its retail investors and institutional investors such as the Employees Provident Fund.
 
Throughout the years, these have created value for its stakeholders through income generation with various spillover and multiplier effects, stimulating the economy and supporting employment in the process.
 
Going forward, Public Bank is fully committed to further strengthen its role as a financial intermediary contributing to the nation’s development.
 
“Public Bank is fully supportive of BNM’s Financial Sector Blueprint 2022-2026. Guided by the three broad themes under the Blueprint, “Finance For All”, “Finance For Transformation” and “Finance For Sustainability”, Public Bank aims to further propel its strength in banking to support the nation’s economic transformation and strengthen financial well-being for households and businesses, while accelerating the transition to a greener economy,” Tan Sri Tay said.

 

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28 February 2022
 

Public Bank First Bank to Launch DuitNow Online Banking/Wallets
 
Public Bank Berhad launched a new secured online payment solution – DuitNow Online Banking/Wallets in January this year to further support the growing needs of a cashless economy.
 
DuitNow Online Banking/Wallets supports e-commerce and m-commerce merchants in facilitating real-time payment acceptance via online banking and eWallets through simple redirection. This is a step forward and enhances existing payment gateways whereby customers can experience a more seamless cart to checkout journey all in one place.
 
Public Bank Managing Director and Chief Executive Officer, Tan Sri Tay Ah Lek said Public Bank had always put customers and the society first in everything it does.
 
“Providing the latest service in line with customers’ demand for convenience and security, Public Bank also prioritises Environmental, Social, and Governance (ESG) efforts by providing greater financial inclusion for the unbanked in addition to enabling online merchants to easily accept payments in real-time through this new, cost-effective, and secure online payment solution,” Tan Sri Tay said.
 
With real-time debiting via payer’s Online/Mobile Banking account or eWallet and direct crediting into merchant’s account maintained by the banks, it is designed to meet the needs of and benefit both small and large businesses.
 
Peter Schiesser, the Group Chief Executive Officer of PayNet said, “Payments made using internet/mobile banking have witnessed a dramatic upsurge in the last 2 years. With this in mind, DuitNow Online Banking/Wallets was designed to elevate the user experience through a more seamless checkout process with the option of application-to-application payment redirection which significantly reduces payment friction and cart abandonment.”
 
DuitNow Online Banking/Wallets is operated by PayNet (Payments Network Malaysia Sdn. Bhd.), the national payments network and shared central infrastructure for Malaysia’s financial market. This new service will extend PayNet’s DuitNow ecosystem to include other digital wallets while maintaining compatibility with participating financial institutions.
 
Businesses can find out more about DuitNow Online Banking/Wallets service by approaching the nearest Public Bank Berhad branch for any assistance or email to cms@publicbank.com.my.

 

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25 February 2022
 

Public Bank Group Posted Pre-Tax Profit of RM2.00 Billion for The First Quarter of 2022

FOR IMMEDIATE RELEASE

16 February 2022
 

Enjoy QR Cross Border Payment convenience between Malaysia with both Indonesia and Thailand via Public Bank’s DuitNow QR
 
Businesses and consumers can now make instant payments using DuitNow QR Cross Border Payment between Malaysia with both Indonesia and Thailand using Public Bank’s PBe QR Service.

This would allow Public Bank customers travelling abroad to transact conveniently with merchants in Indonesia and Thailand using Public Bank’s mobile banking application, PB engage, while customers from Indonesia and Thailand can comfortably use their home countries’ banking accounts to pay merchants in Malaysia.

“With the Malaysian Government looking to open its international borders by March, the convenience of using Cross Border Payment and DuitNow QR linkage with both Indonesia and Thailand will further encourage economic activities with these nations,” said Public Bank’s Managing Director and Chief Executive Officer, Tan Sri Tay Ah Lek.

This initiative marks a new milestone since Public Bank’s launching of the nation’s first DuitNow QR Cross Border Payment Acceptance in June 2021 to facilitate international QR Payment from Thailand and subsequently from Indonesia.

Developed in collaboration with Payment Network Malaysia Sdn. Bhd. (PayNet), Tan Sri Tay said that the Cross Border QR Payment linkage will also further Public Bank’s efforts to provide greater financial inclusion as part of Public Bank’s Environmental, Social and Governance (ESG) efforts.

“Businesses of all sizes, including Micro, Small and Medium Enterprises (MSMEs) can now accept payments efficiently and securely with cashless payments that are cost effective. This will lower the barrier of doing business for MSMEs as ASEAN borders gradually reopen. Meanwhile, for retail customers, apart from having a more convenient and safer option to make payment, they will also enjoy better foreign exchange rates. Hence, customers will get better value from their spending, contributing to a win-win solution for all,” Tan Sri Tay said.

Accelerating the usage further, Public Bank has been waiving the transaction fees for both retail customers and its PBe QR Merchants – including cross border QR Payments to and from Indonesia and Thailand until 31 December 2022.

About PBe QR
Launched in 2019, PBe QR service is a merchant acceptance facility enabling businesses to accept cashless payments in a safe and secured manner by accepting DuitNow QR Payments from any local banks and e-Wallet operators. DuitNow QR is a universal QR code provided by PayNet, a wholly-owned subsidiary of Bank Negara Malaysia.

PBe QR supports payment acceptance from any savings accounts, current accounts, e-wallets, and credit cards at a minimum to zero cost for merchants. The service has now been extended to accept DuitNow QR Cross Border Payment for payments to and from Indonesia and Thailand.

Merchants can easily register for PBe QR at Public Bank’s official website for instant approval without the hassle to submit documents and to start accepting QR payments immediately. PBe QR merchants will enjoy the benefits of accepting a cashless payment in a safe and secured manner that is settled instantly into their Public Bank account.

Mr. Peter Schiesser, Group CEO of PayNet and Tan Sri Dato’ Sri Tay Ah Lek, Managing Director & CEO of Public Bank Berhad during the Public Bank’s soft launch of the Malaysia’s National QR Standard: DuitNow QR on 17 July 2019. Public Bank was the first bank to adopt the standard.

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4 January 2022
 

Public Bank Offers Exquisite Limited Edition Gifts “PB Golden Fortune Wishing you a Prosperous New Year”