PETALING JAYA: Malayan Banking Bhd (Maybank) reported a 3.3% decline in net profit to RM1.81 billion for the first quarter (Q1) ended March 31, 2019 against RM1.87 billion in the previous corresponding period, as the group took a conservative stance in setting aside additional provisioning for clients impacted by the challenging operating environment. Its allowances for impairment losses on loans, advances, financing and other debts increased RM94.7 million or 18.6% to RM604 million. Revenue for the quarter under review, however, rose 12.7% to RM12.98 billion from RM11.52 billion, underpinned by a 1.6% rise in fund based income to RM4.31 billion, partly offset by a marginal dip in net fee based income to RM1.55 billion owing mainly to lower commission, service charges and fees as well as mark-to-market losses in financial liabilities. The group’s net interest income and Islamic banking income grew 1.9% to RM4.45 billion in Q1. Maybank’s overall loans grew 4.8%, while gross … [Read more...] about Maybank’s Q1 net profit dips 3.3% on higher loan provisions
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Multi-billionaire Elon Musk's real net worth, like his personality, is volatile and mercurial.Probably the best known billionaire in the world (and undoubtedly the most covered by the news and social media), Musk and his exact wealth are a matter of speculation because he lives such an un-billionaire type existence.For one, Musk has no guaranteed multimillion dollar annual salary plus stock options and perks from Tesla Inc. Musk has a $56,000 monthly salary from Tesla but hasn't drawn this salary even once. Seems Musk relies on his salaries and perks from his other businesses such as SpaceX, The Boring Company, OpenAI and Neuralink to get by.But here's what we know about Musk's wealth. Forbes estimates his "real time net worth" as of May 15 at $19.5 billion. That's good for Number 40 on Forbes' billionaires list. CNBC places Musk's net worth at about $23.6 billion (no mention of a time frame).And here's why it's tough placing an exact number on Musk's wealth.In January, Tesla announced … [Read more...] about Elon Musk net worth: How much is Tesla, SpaceX CEO worth?
PTT Group includes PTT, PTT Exploration and Production, Thai Oil, PTT Global Chemical, IRPC and Global Power Synergy. An analyst of KTB Securities (Thailand) said that the brokerage house has slashed its forecast of PTT by 12 per cent to about Bt120 billion. This year’s fair price is also cut from Bt57 to Bt52, given the petrochemical business’s expected under-performance. … [Read more...] about Fall In PTT’s Q1 net
MANILA -- SM Investments Corp said Thursday it posted net income of P10.7 billion in the quarter ending March, up 26 percent from the same period last year. SM's banking units accounted for 42 percent of the group's consolidated net income, followed by property with 40 percent and retail with 18 percent. BDO Unibank, the country's largest lender, posted net income of P9.8 billion, up 66 percent. China Bank's net income reached P1.9 billion, 24 percent higher than the same period last year. SM Prime Holdings Inc, which operates the group's property units, booked net income of P8.8 billion during the first quarter, up 16 percent. The net income of retail units, which include SM Markets, WalterMart, Alfamart convenience stores, and other specialty stores, rose 5 percent to P2.7 billion. The total assets grew 12 percent to P1.1 trillion at the end of March. … [Read more...] about News SM Investments net income up 26 percent in Q1
By Russ Buettner The New York Times Susanne Craig Tues., May 7, 2019 By the time his master-of-the-universe memoir Trump: The Art of the Deal hit bookstores in 1987, Donald Trump was already in deep financial distress, losing tens of millions of dollars on troubled business deals, according to previously unrevealed figures from his federal income tax returns. Trump was propelled to the presidency, in part, by a self-spun narrative of business success and of setbacks triumphantly overcome. He has attributed his first run of reversals and bankruptcies to the recession that took hold in 1990. But 10 years of tax information obtained by the New York Times paints a different, and far bleaker, picture of his deal-making abilities and financial condition. The data — printouts from Trump’s official Internal Revenue Service (IRS) tax transcripts, with the figures from his federal tax form, the 1040, for the years 1985 to 1994 — represents the fullest and … [Read more...] about Trump tax figures show over $1 billion (U.S.) in business losses