CIMB Group Holdings Berhad reported a record net profit of RM3.29 billion in the first half of 2018 (1H18).
It is bolstered by a gain from the sale of 20% of CIMB-Principal Asset Management (CPAM) and 10% of CIMB-Principal Islamic Asset Management (CPIAM) amounting to RM928 million and this raised the Group’s 1H18 Return On average Equity (ROE) to 11.5%, and reduced its Cost-to-Income Ratio (CIR) to 46.1%.
Tune Protect Group Berhad posted its Gross Written Premiums (GWP) of RM122.1 million with Operating Revenue (OR) of RM141.3 million and Profit After Tax (PAT) of RM13.4 million for the second quarter of 2018.
The Revenue increased to RM141.26 million while the PAT for 1H2018 recorded an 18 per cent increase year-on-year to RM31.7 million which was attributed to increased underwriting profits by 42 per cent year-on-year, from lower net claims and reduced management expenses.
UMW Holdings Bhd’s core business segments of Automotive, Equipment and Manufacturing & Engineering (M&E) recorded higher revenue in the second quarter of 2018 mainly due to increased consumer demand arising from the Goods and Services Tax (GST) – free period in Malaysia.
Consequently, the Automotive and Equipment segments registered higher profit before taxation (PBT) of 43.9% and 17.4%, respectively. UMW’s new aerospace business has started to generate revenue, contributing to 15.9% revenue growth for the M&E segment. As a result, the segment registered a substantially lower loss before taxation than in the previous corresponding quarter. The loss is expected as the aerospace business is still in its gestation period.