Priceworth International Bhd’s posted a higher net profit by 196 per cent for financial year ended June 30, 2018 (FY18) to RM13.84 million from RM4.70 million a year ago.
The timber and forestry group said in a Bursa Malaysia filling, the surge in earnings was mainly due to higher other income and the improvement in revenue.
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.