Its job scope for the contract involves supplying concrete cement and metal for the upgrading of the Train Cargo Terminal at Padang Besar, Perlis, Dolphin said in a filing with Bursa Malaysia.
KUALA LUMPUR: Co-opbank Pertama Malaysia Bhd (CBP) is introducing five new products this year that will help drive its growth in terms of profit after zakat for the 2019 financial year.
Chairman Kamari Zaman Juhari said the five products, which are expected to reduce the cooperative bank's operating cost in the future, would be launched in stages beginning the first quarter until the fourth quarter of this year.
"We will launch a few products which have been approved including i-factoring, i-contract, banking agent services, revolving credit and mobile banking,” he told the media during a working visit by the Cooperative Commission of Malaysia executive chairman Datuk Nordin Salleh to CBP here, today.
For mobile banking services, Kamari Zaman said it would be introduced in April at several focused destinations that had been identified, namely Bandar Tun Razak, Bangi and Ulu Selangor for the Klang Valley and Pontian, Kluang and Kota Tinggi for Johor.
The banking agent services, he said, were expected to be introduced in the fourth quarter of this year.
"CBP's performance in 2018 was very encouraging. Unaudited profit before zakat amounted to RM52.32 million compared with RM39.73 million in 2017,” he said.
In 2018, CBP had increased its total assets to RM3.61 billion compared with RM3.16 billion in 2017, and out of the total, some 72 per cent constituted financing given out by the bank while the remaining 28 per cent comprised deposits placed with other financial institutions.
Besides that, Kamari Zaman said the confidence shown by investors on CBP's business performance as well as the products and services offered, had spurred the increase in the cooperative bank's membership.
There was an increase of almost 6,000 new individual members and more than 80 cooperative members last year, he added.
By achieving good performance continuously every year, he said CBP would be able to pay out high dividend to attract the public to become its members.
Meanwhile, Nordin said up to Sept 30, 2018, the financial services sector contributed a revenue of RM24.85 billion. He said Bank Kerjasama Rakyat Malaysia Bhd (Bank Rakyat) and CBP, both of which are cooperative banks, were the major contributors to the cooperative financial services revenue totalling RM16.83 billion or 85 per cent.
For 2019, he said the target revenue for the financial services sector was set at RM38 billion. - Bernama
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