EPF chief executive officer Datuk Shahril Ridza Ridzuan said that the non-bank financial provider is working with Bank Negara Malaysia to revamp to bring it up to bank standards and is looking at a solution towards entering into the mainstream market.
KUALA LUMPUR: Malaysia Building Society Bhd
(MBSB) says it did not meet the annualised group net return on equity (ROE) due to lower operating profit.
MBSB said on Friday the annualised net ROE was 7.6% for the nine months ended Sept 30, 2015 compared with the target 2015 headline key performance indicators of 12.5%.
“However, the annualised group net ROE did not meet the target set mainly due to lower operating profit as a result of higher impairment losses on loans, advances and financing,” it said.
MBSB said its annualised group revenue growth for Q3 met the targeted headline KPI mainly due to higher income from investments and higher financing income from corporate segments.
It said the target headline KPIs for 2015 were set and agreed by the board of directors and management as part of the broader KPI framework that the company has in place.
This was prescribed under the government linked company (GLC) transformation programme and was disclosed on a voluntary basis.
MBSB also said these headline KPIs were targets or aspirations set by the company for the respective years as a transparent performance practice.
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