KIB to monitor market uncertainties

PETALING JAYA: Kenanga Investment Bank Bhd (KIB) will continue to be vigilant in monitoring market uncertainties and to be cautiously optimistic.

For the first quarter ended March 31, 2024 (1Q24), KIB’s net profit rose to RM22.83mil from RM10.25mil in the previous corresponding period, while revenue improved to RM204.21mil from RM179.79mil previously.

Basic earnings per share stood at 3.15 sen versus 1.42 sen a year earlier.

In a statement, KIB said its 1Q24 performance was primarily driven by higher trading and investment income, management fee income and a significant contribution in share of profit from Saudi-Arabia based associate company, Al Wasatah Al Maliah, which recorded an exceptional first quarter.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Next In Business News

Waz Lian founder Tan Sri Ta Kin Yan passes away at 72
Oil posts weekly gain on solid 2024 demand outlook
Prabowo aims to raise Indonesia debt-to-GDP ratio toward 50%
Laundry Care ventures into linen rental business
Oriental Kopi files for Bursa IPO
BHIC wins RM1bil govt job
MI Technovation prepares for chip recovery
Local furniture export outlook hinges on US housing market
Luxury labels slash prices to attract wary shoppers
Delay in rate cuts but bonds rally

Others Also Read