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KUALA LUMPUR: RHB Bank Berhad (“RHB” or “the Group”) posted a net profit of RM750 million for the first quarter ended 31 March 2025 (Q1 FY2025), marking a 2.7% year-on-year (Y-o-Y) increase from RM730.2 million. The performance was driven by higher net fund-based income and improved credit cost management, reflecting RHB’s disciplined risk approach and operational resilience. Total income stood at RM2 billion, reflecting a marginal 1.9% Y-o-Y decline, mainly due to softer non-fund based income from lower gains in forex, derivatives, trading and investment activities. Net fund-based income, however, rose 7.3% Y-o-Y to RM1.5 billion, supported by a 6.3% increase in gross loans and stable net interest margins (NIM). The Group reported an effective NIM of 1.91% for the quarter, compared to 1.83% a year earlier. Operating expenses grew modestly by 1.2% Y-o-Y to RM970.7 million, while the cost-to-income ratio (CIR) rose slightly to 47.4% from 45.9% in the prior year due to lower income. Expected Credit Losses (ECL) declined sharply by 50.8% to RM105.8 million, attributed to the absence of one-off ECL from international operations. “We sustained our earnings growth momentum in the first quarter, underpinned by solid fundamentals and early traction from our PROGRESS27 strategy,” said Dato’ Mohd Rashid Mohamad, Group Managing Director and CEO of RHB Banking Group. “Our cost optimisation efforts are delivering results, while we remain focused on asset quality and disciplined execution.” Robust Capital, Steady Loan Growth As of 31 March 2025, RHB’s total assets expanded to RM353 billion. Shareholders’ equity stood at RM32 billion, with a Common Equity Tier-1 (CET-1) ratio of 16.0% and Total Capital Ratio (TCR) of 18.5% at Group level. The Bank’s standalone CET-1 and TCR were 14.7% and 17.4%, respectively. Gross loans rose 2.4% on an annualised basis to RM239 billion, led by solid performances in Group Community Banking (+5.5%) and Commercial segments (+16.9%). Domestic loans grew 4.7% annually, outpacing the industry average of 4.3%. The Group’s gross impaired loans (GIL) ratio was stable at 1.50%, while domestic GIL remained below industry levels at 1.22%. Customer deposits totalled RM249 billion, with the CASA (current account savings account) ratio improving to 28.0% from 27.6% in FY2024. Liquidity Coverage Ratio (LCR) was healthy at 134.6%. Loan loss coverage including regulatory reserves strengthened to 115.7%. Segment Performance Overview Group Community Banking recorded a pre-tax profit of RM425.7 million (+14.7% Y-o-Y), supported by growth in mortgages (+7.3%), auto finance (+9.0%), and SME loans (+5.5%). Gross loans stood at RM152 billion, while deposits reached RM125 billion. Group Wholesale Banking posted RM548.2 million in pre-tax profit. Commercial segment loans rose 16.9% to RM54 billion, with deposits of RM86 billion. Group International Business saw pre-tax profit surge to RM87.3 million due to lower ECL. Deposits grew 4.6% annually to RM37 billion, with CASA rising 22.2%. Group Shariah Business reported RM242.5 million in pre-tax profit, with Islamic financing at RM93 billion (+8.7% annualised). Islamic loans made up 45.1% of total domestic financing, up from 44.6% in December 2024. Group Insurance contributed RM17.7 million in pre-tax profit for the quarter. Strategic Outlook RHB maintains a cautious outlook amid global macroeconomic uncertainties, interest rate movements, and trade tensions. The recent reduction in the Statutory Reserve Requirement (SRR) by Bank Negara Malaysia is expected to support funding flexibility in the coming quarters. “Our new three-year strategic roadmap, PROGRESS27, charts a clear path to strengthening service excellence, profitability and purpose-driven growth,” added Dato’ Rashid. “With targeted execution across customer journeys and sustainability efforts, we are well-positioned to unlock both near-term and long-term value for stakeholders.”

Rafizi Ramli has announced his resignation as Malaysia’s Minister of Economy, citing the loss of his mandate following a defeat in the recent Parti Keadilan Rakyat (PKR) internal elections. His resignation will take effect on 17 June 2025, with Rafizi set to go on annual leave until then. In a media statement issued Tuesday, Rafizi said his departure is in line with democratic practices, where party leaders who no longer hold internal support should make way for new leadership within the government. “I joined politics to promote a new political culture grounded in accountability and public mandate,” he said. “Losing the party’s confidence means I can no longer credibly deliver PKR’s policy agenda within the Cabinet.” Rafizi leaves office having completed his final task: the formulation of the 13th Malaysia Plan (RMK13), which he confirmed has been finalised and is ready for presentation in the upcoming parliamentary session. The plan, he said, places a strong focus on long-term structural reforms—particularly in the education sector. He urged the Cabinet to maintain the bold policy shifts outlined in RMK13, even in his absence, and commended the Ministry of Economy for its high calibre of public servants and policy execution. During his tenure, Rafizi championed structural reforms aimed at boosting national productivity, addressing income disparities, and positioning Malaysia for high-income status. His departure introduces a potential leadership gap at a critical point in the country’s economic reform trajectory. “The journey to restructure our economy for long-term strength and high-income status is far from over,” he noted. “Difficult decisions must continue to be made today for the benefit of future generations.” Rafizi also expressed his gratitude to public servants, industry stakeholders, the media, and the Malaysian public for their cooperation throughout his term in office. The Ministry of Economy’s leadership transition will be closely watched by investors and business leaders, particularly as the country prepares to implement RMK13 and navigate a complex global economic landscape.

KUALA LUMPUR: Nurjesmi Mohd Nashir, CEO of Affin Hwang Investment Bank Bhd, is set to take the helm of RHB Bank Bhd’s wholesale banking division, according to industry sources. He is expected to be named Managing Director of Group Wholesale Banking at RHB. The move follows the departure of Datuk Fad’l Mohamed, who left RHB earlier this year to assume the role of CEO at Bursa Malaysia. Nurjesmi, who took the top role at Affin Hwang in June 2023, brings with him extensive experience in corporate and investment banking. His prior roles include Executive Director and Head of Global Corporate Banking at JP Morgan Chase Bank Bhd, and nearly 20 years at Citibank Bhd. Shares in RHB closed three sen lower at RM6.85 on Tuesday, with a market valuation of RM29.86 billion. Affin Bank’s shares ended one sen lower at RM2.70, valuing it at RM6.84 billion.–THE EDGE

KUALA LUMPUR: CARE Latex Sdn Bhd (“CARE Latex”), Malaysia’s leading  condom brand, has announced a strategic partnership with Kossan Holdings (M) Sdn Bhd  (“Kossan Holdings”), the investment arm of one of the world’s largest manufacturers of gloves and rubber product.. This partnership positions Kossan Holdings as CARE Latex’s third-largest investor,  strengthening the brand’s strategic foundation and supporting its long-term growth ambitions in the global  sexual wellness market. CARE Latex’s impressive growth trajectory — highlighted by a 1,399% increase in revenue and a 1,615%  surge in unit sales from 2018 to 2024 — underscores strong consumer trust and positions the brand as  a regional frontrunner and emerging global player.  This strategic partnership with Kossan Holdings marks a pivotal milestone in CARE Latex’s pre-IPO  journey. It enhances CARE Latex’s ecosystem by accelerating product innovation, improving inventory  management, expanding research and development (“R&D”) capabilities, and broadening market reach  through new distribution channels.  Beyond market expansion, the collaboration also aligns with CARE Latex’s commitment to public health,  particularly in addressing the urgent issue of HIV prevention among Southeast Asian youth. According to  UNAIDS 2023, one in four new HIV cases in the region involves individuals aged 15 to 24, with 93% linked to unprotected sex. In Malaysia, the Ministry of Health’s Global AIDS Monitoring Report 2024 indicates that 32% of new HIV infections occur in this age group, and yet condom usage remains below  40%.  CARE Latex is building greater operational capacity and expanding access to trusted protection products  by harnessing advanced manufacturing and supply chain strengths — deepening its commitment to  preventing sexually transmitted diseases and promoting sex education.  “Welcoming Kossan Holdings as a strategic investor enhances our capacity to scale production, drive  innovation, and deliver our mission. Together,  we are building a globally respected Malaysian brand that stands for quality, innovation, and social  responsibility,”  said Bonn Lam Chee Fong, Founder of CARE Latex. Reflecting on CARE Latex’s origins, Bonn added, “Our journey started with a simple yet powerful insight  — if the world’s leading condom brands source their latex from Malaysia, why not build a world-class  brand here at home? With Malaysia ranking as the sixth-largest producer of natural latex, we are  leveraging local strengths to accelerate the R&D pipeline, to launch innovations like Malaysia’s first  Microbial Barrier condom, designed with antimicrobial and antioxidant properties for enhanced  protection.”  Lim Seow Chair, representative of Kossan Holdings, commented: “We are proud to support CARE Latex, a brand that shares our values of integrity, innovation, and sustainable impact. CARE Latex’s focus on sexual wellness, coupled with its inclusive, innovative and science-led approach, aligns  perfectly with our purpose-driven investment philosophy.”  CARE Latex is the only Malaysian condom brand with a retail presence in both Singapore and South  Korea, distributed through major convenience store chains such as Olive Young, and GS25, which has  over 17,300 outlets.  Future expansion markets include Singapore, Vietnam, Hong Kong, Macau, New Zealand, and the United  States. The company’s growth strategy remains anchored in broadening retail reach, advancing product  innovation, and exploring acquisitions of local brands. Multiple new product lines are in development to  support this continued growth, including clinical and personal lubricants, pregnancy and HIV test kits,  pleasure devices, and wellness supplements. 

KUALA LUMPUR: Hong Leong Bank Berhad (HLB) has formed a strategic alliance with Swiss private bank Lombard Odier to enhance its HLB Private Bank and Regional Wealth Management proposition. The move marks a significant step in HLB’s transformation strategy to become Malaysia’s best-run bank, with a strong focus on innovation, sustainability, and legacy-building wealth solutions. The partnership was formalised at HLB’s headquarters in Kuala Lumpur between Kevin Lam, HLB’s Group Managing Director and CEO, and Vincent Magnenat, Asia Group Regional Head and Global Head of Strategic Alliances at Lombard Odier. It was witnessed by key senior executives from both organisations. “This is a transformative era for wealth management,” said Kevin Lam. “Our ambition to be the best-run bank is intertwined with empowering clients to build wealth that transcends generations. With Lombard Odier, we are charting a course for enduring wealth—combining world-class expertise with our commitment to responsibility and innovation.” A Synergy of Global Vision and Local Expertise The alliance brings together Lombard Odier’s global investment strategies and HLB’s deep understanding of the regional market. Clients will benefit from a sophisticated, personalised experience, including: Investment insights from Lombard Odier’s Chief Investment Office Comprehensive wealth architecture Bespoke advisory services focused on succession planning, sustainable investments, and generational wealth transfer Strengthening Capabilities from Within Alongside the alliance, HLB is also: Expanding its wealth management team with top-tier talent Launching a Wealth Academy to upskill relationship managers Integrating AI tools to enhance client engagement and insights Advancing digital capabilities and client service delivery “Asia-Pacific’s wealth is growing rapidly, especially among high-net-worth individuals (HNWIs),” said Jeffrey Yap, Managing Director & Regional Head of Wealth Management at HLB. “This alliance enables us to deliver tailored solutions that meet the evolving complexities of wealth today—and secure legacies for the future.” Extending Through Hong Leong Asset Management The partnership also enhances Hong Leong Asset Management Bhd (HLAM)’s product offerings, leveraging Lombard Odier’s role as a target fund manager to bring exclusive investment strategies to Malaysian investors. “We believe in working with the right partners who share our DNA,” said Vincent Magnenat of Lombard Odier. “In HLB, we see a shared commitment to innovation, sustainability, and legacy wealth planning. We are delighted to welcome them into our ecosystem of strategic alliances.”

KUALA LUMPUR: Radium Development Berhad, a homegrown property developer known for its affordably priced homes across the Klang Valley, has officially ventured into the healthcare sector with the launch of its first medical facility, Radium Hospital @ Ayer Keroh. Currently known as A Famosa Specialist Hospital, the facility will be repositioned under the newly established Radium Healthcare Sdn Bhd, marking a significant milestone in the group’s diversification strategy. Strategically situated adjacent to the Melaka International Trade Centre (MITC) and within close proximity to the PLUS Highway, the tertiary-level hospital is designed to cater to the evolving healthcare needs of Tier 2 towns. It will serve a broad patient base ranging from middle- to high-income groups, insurance holders, corporate clients, and medical tourists. “As a brand built on the belief of ‘Building Good’, our venture into healthcare is a natural extension of our mission to serve Malaysians from all walks of life,” said Datuk Gary Gan, Group Managing Director of Radium. “Just as we’ve provided quality housing solutions, we’re now committed to offering the same reliability, compassion, and excellence in healthcare.” Set to commence operations in the first half of 2028, Radium Hospital @ Ayer Keroh will be the centrepiece of Radium Centricity, a proposed 7.11-acre integrated development focused on health, wellness, and well-being. The wider masterplan will eventually include residential and commercial components, supporting the hospital with lifestyle and healthcare-related services. The hospital will house Centres of Excellence in traumatised care, cardiology, infertility treatment, and neonatology—areas identified as critical to Melaka’s healthcare landscape. “Our vision is to create a healthcare system that is inclusive, ethical, and adaptable,” said Dr Arun Kumar, CEO of Radium Healthcare. “This hospital represents the first step in building a network of community-focused facilities that meet the highest clinical standards while remaining affordable to the public.” Radium Healthcare’s business model emphasises long-term sustainability through a combination of internal funding, strategic borrowings, asset-light structures, and operational efficiency. The group is also investing in technological upgrades and rigorous safety protocols, while pursuing MSQH accreditation to ensure clinical excellence. Partnerships will be a core component of Radium Healthcare’s approach. The company is working closely with local corporates and NGOs, and has formed a strategic collaboration with M Life Healthcare Sdn Bhd, helmed by Dr Arun Kumar. “With Dr Arun’s leadership and our shared vision, we’re confident that Radium Healthcare will emerge as a strong private hospital group in Malaysia,” added Gan. With more healthcare developments in the pipeline, Radium’s latest move aligns with national goals to enhance healthcare accessibility and improve the quality of life for Malaysians. For more information, visit: www.radiumhealthcare.com