“The final approval from the SC is expected by the end of the month and we will conclude the purchase with the name change to Affin Securities,” Affin-UOB Securities managing director Saiful Bahri Zainuddin told reporters on the sideline of the company’s regional forum in Kuala Lumpur yesterday.
The telecommunications company's sharp increase in sales was achieved on the back of a 36.6% rise in its mobile customer base to 2.21 million and higher interconnect revenue from its international segment.
Pre-tax profit improved to RM201.54mil from RM145.77mil a year earlier.
On a quarterly basis, pre-tax profit rose to RM81.43mil from RM31.46mil a year ago, and operating profit margins improved to 43.7% from 42.9%.
The fourth quarter's pre-tax profit was a 89.3% improvement over the third quarter's. Sales grew 12% to RM486.3mil, and the mobile customer base 7.4%.
Going forward, the company said it expected the penetration rate for the mobile sector to further increase this year and earnings to improve. – AFX
CAHB said the acquisition of AMI would create synergies with its existing businesses and allow it to broaden its earnings base and venture further into the general insurance industry.
AMI had a network of 21 branches, it added. – AFX-Asia
“The final approval from the SC is expected by the end of the month and we will conclude the purchase with the name change to Affin Securities,” Affin-UOB Securities managing director Saiful Bahri Zainuddin told reporters on the sideline of the company’s regional forum in Kuala Lumpur yesterday.