Singapore shares close 1% lower

7 Jul 2020 - The Business Times
SINGAPORE shares closed lower on Tuesday, snapping a five-day winning streak with the key Straits Times Index losing 28.19 points or 1.05 per cent to finish at 2,661.42. Most other regional bourses also took a breather from the recent strong rally, although there was no stopping China; the Shanghai Composite ...
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Engage client actively to avoid NPL bubble

9 Apr 2020 - The Edge Markets
SINGAPORE (Apr 9): The moratorium on loans announced by the government last week for households and SMEs will help protect the banking system and ensure liquidity while shielding the economy from current shocks. However, industry observers point out that this could only serve to delay a debt and impaired ...
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A testing time for banks

21 Feb 2020 - The Edge Markets
(Feb 21): The shares of more than 60% of local banks are currently trading below book value, a plight last seen in 1997 and 2008. Have a premium account? Sign in to continue reading. Unlimited access to all stories from $4.99/month The latest reporting and analysis from business and investments to news ...
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AmBank Research sees possible cut in banks' SRR

29 May 2019 - The Star Online
KUALA LUMPUR: AmBank Research sees a possible cut in the statutory reserve requirement (SRR) for banks due to the current economic challenges and headwinds. It said on Wednesday the last time Bank Negara reduced the SRR was in the January 2016 monetary policy committee (MPC) meeting, cutting it by 50bps ...
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AmBank FY19 net profit rises to RM1.5b

28 May 2019 - The Star Online
KUALA LUMPUR: AmBank Group's net profit for the financial year ended March 31, 2019 rose by 32.9% to RM1.505bil from RM1.132bil in FY18, driven by its strong transformation strategy, net recovery and lower expenses. The banking group announced on Tuesday its revenue increased by 6.3% to RM9.12bil from ...
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Seacera unit gets letter of demand to repay RM19m

21 May 2019 - The Star Online
KUALA LUMPUR: Seacera Group Bhd 's unit has received a letter of demand from AmBank Islamic Bhd seeking payment of RM19.2mil. The tile maker said on Tuesday the demand of payment included the future profit of total amount outstanding and due payable under the murabahah tawarruq term financing-I and ...
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Higher loan growth can offset impact of rate cut

15 May 2019 - The Star Online
KUALA LUMPUR: Banks in Malaysia will benefit from the recent cut in the overnight policy rate (OPR) if the move results in a higher loan growth, according to AmBank Group chief executive officer Datuk Sulaiman Mohd Tahir (pic). However, he told StarBiz that the banks’ bottom line could potentially take ...
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AmBank bags a ‘double’ at CGC SME awards

22 Apr 2019 - The Star Online
KUALA LUMPUR: AmBank (M) Bhd bagged the Top Financial Institution (FI) Partner Award for Commercial category and Top FI Award for the Bumiputera category at the recent CGC SME Awards 2018. Chief executive officer Datuk Sulaiman Mohd Tahir said: “We are truly humbled to receive these awards from Credit ...
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Ambank partners CGC to provide RM30mil for start-ups

18 Apr 2019 - The Star Online
KUALA LUMPUR: AmBank (M) Berhad (“AmBank”) and Credit Guarantee Corporation Malaysia Berhad (“CGC”) have entered a new strategic partnership to fulfil the financing needs of Small and Medium Enterprises (SMEs). AmBank and CGC today launched SME Biz Start Up-i which is aimed at assisting start-ups who ...
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AmBank Research sees gradual Norway fund pullout from MGS

11 Apr 2019 - The Star Online
KUALA LUMPUR: AmBank Research sees Norway's sovereign wealth fund pullout from Malaysia's government bonds under its streamlining exercise to be gradual and the outflow will not cause a major impact. Norway’s Government Pension Fund Global (GPFG) holds US$1.96bil (RM8.0bil) or 5.3% of Malaysia's government ...
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