Affin Bank Berhad provides banking and financial services. The company, through its subsidiary, Affin Islamic Bank Berhad, offers a range of Islamic banking products and services in the areas of enterprise and consumer banking. It also provides deposits, including banking services, current accounts, fixed deposits, savings accounts, and time deposits, as well as credit card programs. In addition, the company offers loan products, such as home loans, overdrafts against FDR, small and medium industry loan schemes, new entrepreneur funds, guarantee schemes, and loan schemes. Further, it provides hire purchase, stock banking, unit trust, and remittance services, as well as trade finance products...
80, Jalan Raja Chulan
Kuala Lumpur, 50200
Founded in 2001
SMPC Corporation Bhd. SMPC Industries Sdn. Bhd. and Affin Bank Berhad Receive Writ of Summons
Jun 16 14
The board of directors of the SMPC CORPORATION BHD. announced that the company (‘1st defendant’), together with its wholly-owned subsidiary, SMPC Industries Sdn. Bhd. (‘SISB’ or ‘2nd defendant’), Mr. Ooi Chieng Sim (‘OCS’ or ‘3rd defendant’) and Affin Bank Berhad (‘Affin’ or ‘4th defendant’) (‘the defendants’) had been served with Writ of Summons by Machendran a/l Pitchai Chetty (‘the plaintiff’) at their registered office on 13 June 2014. The Writ of Summons arose from the Plaintiff's claims on the following: that the Plaintiff seeks a declaration that he be relieved of his Guarantee of MYR 18,000,000 date stamped 30 May 2014 in favour of the 4th defendant; in the alternative, the 1st and 2nd defendants be ordered to make good/or otherwise indemnify the Plaintiff to the full extent of the debts outstanding to the 4th defendant; unspecified sum of general damages to be ascertained from the date the Plaintiff relinquished his position as managing director of the 1st defendant in August 2013 until the Plaintiff is relieved of the guarantee; aggravated and general damages against the 1st, 2nd and 3rd defendants; general damages against the 4th defendant; interest on all damages at 5% from the date of Judgement until the date of realization; costs; and any other order the Honorable Court deems fit and appropriate. The company and SISB are in the midst of seeking legal advice on the steps to be taken for the said suit.
Affin Bank Berhad Reports Unaudited Group and Bank Earnings Results for the First Quarter Ended March 31, 2014
May 22 14
Affin Bank Berhad reported unaudited group and bank earnings results for the first quarter ended March 31, 2014. For the quarter, on group basis, net interest income was MYR 194,857,000 against MYR 196,496,000 a year ago. Net income was MYR 311,393,000 against MYR 317,265,000 a year ago. Profit before zakat and taxation was MYR 175,294,000 against MYR 185,085,000 a year ago. Profit before taxation was MYR 175,294,000 against MYR 185,085,000 a year ago. Net profit attributable to equity holders of the Bank was MYR 135,962,000 against MYR 136,003,000 a year ago. Earnings per basic and diluted share were 8.8 sen against 9.0 sen a year ago. Net cash used in operating activities was MYR 1,973,643,000 compared to net cash provided by operating activities of MYR 530,091,000 for the same period a year ago. Purchase of property, plant and equipment was MYR 2,148,000 compared to MYR 4,068,000 for the same period a year ago. Purchase of intangible assets was MYR 91,000 compared to MYR 850,000 a year ago.
For the quarter, on bank basis, net interest income was MYR 202,025,000 against MYR 203,616,000 a year ago. Net income was MYR 261,617,000 against MYR 269,334,000 a year ago. Profit before zakat and taxation was MYR 154,021,000 against MYR 162,457,000 a year ago. Profit before taxation was MYR 154,021,000 against MYR 162,457,000 a year ago. Net profit attributable to equity holders of the Bank was MYR 117,974,000 against MYR 118,831,000 a year ago. Earnings per basic and diluted share were 7.6 sen against 7.8 sen a year ago. Net cash used in operating activities was MYR 442,690,000 compared to net cash provided by operating activities of MYR 2,060,123,000 for the same period a year ago. Purchase of property, plant and equipment was MYR 2,084,000 compared to MYR 4,044,000 for the same period a year ago. Purchase of intangible assets was MYR 91,000 compared to MYR 850,000 a year ago.