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Herald Malaysia
12 hours ago
- Business
- Herald Malaysia
Vatican Bank reports RM159 million profit in 2024
The Vatican Bank, officially known as the Institute for the Works of Religion (IOR), reported a net profit of €32.8 million (RM158,952 million) for 2024, a seven per cent increase from the previous year. Jun 20, 2025 The Vatican Bank. (CNA/Andrea Gagliarducci VATICAN: The Vatican Bank, officially known as the Institute for the Works of Religion (IOR), reported a net profit of €32.8 million (RM158,952 million) for 2024, a seven per cent increase from the previous year. The growth was driven by higher interest, commission, and brokerage income, along with tighter cost control. The total volume of client assets rose to €5.7 billion (RM27 billion), and net assets increased to €731.9 million (RM3.5 billion). The IOR's strong performance also led to a dividend of €13.8 million (RM66 million) being allocated to the Holy Father, reaffirming its mission to support the Church's religious and charitable works. All investments were conducted in line with Catholic social teaching, with 100 per cent of asset management lines posting gains and 79 per cent outperforming their benchmarks. The bank's Tier 1 capital ratio — a key indicator of financial stability — reached 69.43 per cent, a 16.1 per cent rise from 2023, due to reduced risk exposure and stronger equity. This places the IOR among the most well-capitalised financial institutions globally in terms of liquidity and solvency. Improvements in technology and staffing in 2024 further enhanced the IOR's operations and customer service. As the only financial institution authorised to operate within Vatican City, its audited financials confirmed compliance with international accounting standards and another year of stable, sustained growth. --CNA
New Straits Times
14 hours ago
- Business
- New Straits Times
Chow: Let cops investigate, Penang not linked to MBI investment scam
GEORGE TOWN: The Penang government will leave it to the police to probe the investment scam by the now-defunct MBI International Group, that preyed mainly on Chinese nationals Home Minister Datuk Seri Saifuddin Nasution Ismail confirmed that enforcement efforts were talked about by Prime Minister Datuk Seri Anwar Ibrahim and Chinese President Xi Jinping during Xi's visit in April. Investigators are currently pursuing leads that monies raised by MBI allegedly helped finance purchases of state government land for large development projects, ventures that have been key to Penang's robust economic growth over the last decade. Chief Minister Chow Kon Yeow said it was the responsibility of the police to investigate and charge. "Let the police investigate, and if there is a case, then prosecute. "On the state government's part, we will continue with our development projects and plans," he told the New Straits Times. Previously, Chow said the state government would leave it to Bukit Aman to investigate the money trail of the now-defunct MBI pyramid scheme. He said that his administration had nothing to do with the matter. Chow added that they had not been called in to assist in the investigation. Several Tan Sris and a Datuk Seri had been arrested to assist investigations into the matter since April. More than RM3.5 billion worth of assets — including a hotel, durian farms, luxury vehicles, watches, and bank accounts — had been seized and frozen. The MBI Group International was founded by Tedy Teow, a businessman dubbed "Jho Low 2."
The Sun
3 days ago
- Business
- The Sun
DOSM to introduce National Agricultural Production Index
KEPALA BATAS: The Department of Statistics Malaysia (DOSM) will soon introduce a National Agricultural Production Index to strengthen food security by addressing critical data gaps in the agriculture sector. Chief Statistician Datuk Seri Dr Mohd Uzir Mahidin said the index, to be pushed quarterly, will offer a more comprehensive view of agricultural output, supporting evidence-based policymaking in a sector central to both livelihoods and economic stability. The index is being developed in collaboration with several government agencies and will mirror existing statistical frameworks used for the manufacturing, electricity and services sectors. 'This data will help identify which areas are experiencing increases in agricultural output and the information can be shared across agencies for planning and policy-making purposes,' he added. He was speaking to reporters after launching the 2024 Penang Interim Agriculture Census Report, officiated by State Agrotechnology, Food Security and Cooperative Development Committee chairman Fahmi Zainol here today. Until now, national agricultural statistics have focused primarily on palm oil and padi production, which he described as 'not comprehensive.' The new index, he said, will offer more structured and detailed coverage of the broader agricultural sector. Preliminary findings from the 2024 Agriculture Census indicate that the sector recorded sales of RM161 billion in 2023, employing 1.7 million people. These figures underscore the industry's potential if backed by strategic policies and innovation. In Penang alone, agricultural sales reached RM3.5 billion, despite the state's small size. Individual farmers accounted for 93.1 per cent of agricultural holdings, with organisations making up the remaining 6.9 per cent. The census also highlighted the active role played by senior citizens, with more than half of Malaysians aged 60 and above still engaged in agriculture. Mohd Uzir noted that the presence of older farmers in the field remains strong, while youth involvement presents further opportunities to enhance sector productivity.
The Sun
3 days ago
- Business
- The Sun
DOSM to introduce National Agricultural Production Index in food security push
KEPALA BATAS: The Department of Statistics Malaysia (DOSM) will soon introduce a National Agricultural Production Index to strengthen food security by addressing critical data gaps in the agriculture sector. Chief Statistician Datuk Seri Dr Mohd Uzir Mahidin said the index, to be pushed quarterly, will offer a more comprehensive view of agricultural output, supporting evidence-based policymaking in a sector central to both livelihoods and economic stability. The index is being developed in collaboration with several government agencies and will mirror existing statistical frameworks used for the manufacturing, electricity and services sectors. 'This data will help identify which areas are experiencing increases in agricultural output and the information can be shared across agencies for planning and policy-making purposes,' he added. He was speaking to reporters after launching the 2024 Penang Interim Agriculture Census Report, officiated by State Agrotechnology, Food Security and Cooperative Development Committee chairman Fahmi Zainol here today. Until now, national agricultural statistics have focused primarily on palm oil and padi production, which he described as 'not comprehensive.' The new index, he said, will offer more structured and detailed coverage of the broader agricultural sector. Preliminary findings from the 2024 Agriculture Census indicate that the sector recorded sales of RM161 billion in 2023, employing 1.7 million people. These figures underscore the industry's potential if backed by strategic policies and innovation. In Penang alone, agricultural sales reached RM3.5 billion, despite the state's small size. Individual farmers accounted for 93.1 per cent of agricultural holdings, with organisations making up the remaining 6.9 per cent. The census also highlighted the active role played by senior citizens, with more than half of Malaysians aged 60 and above still engaged in agriculture. Mohd Uzir noted that the presence of older farmers in the field remains strong, while youth involvement presents further opportunities to enhance sector productivity.
Barnama
3 days ago
- Business
- Barnama
DOSM To Introduce National Agricultural Production Index In Food Security Push
KEPALA BATAS, June 17 (Bernama) -- The Department of Statistics Malaysia (DOSM) will soon introduce a National Agricultural Production Index to strengthen food security by addressing critical data gaps in the agriculture sector. Chief Statistician Datuk Seri Dr Mohd Uzir Mahidin said the index, to be pushed quarterly, will offer a more comprehensive view of agricultural output, supporting evidence-based policymaking in a sector central to both livelihoods and economic stability. The index is being developed in collaboration with several government agencies and will mirror existing statistical frameworks used for the manufacturing, electricity and services sectors. 'This data will help identify which areas are experiencing increases in agricultural output and the information can be shared across agencies for planning and policy-making purposes,' he added. He was speaking to reporters after launching the 2024 Penang Interim Agriculture Census Report, officiated by State Agrotechnology, Food Security and Cooperative Development Committee chairman Fahmi Zainol here today. Until now, national agricultural statistics have focused primarily on palm oil and padi production, which he described as 'not comprehensive.' The new index, he said, will offer more structured and detailed coverage of the broader agricultural sector. Preliminary findings from the 2024 Agriculture Census indicate that the sector recorded sales of RM161 billion in 2023, employing 1.7 million people. These figures underscore the industry's potential if backed by strategic policies and innovation. In Penang alone, agricultural sales reached RM3.5 billion, despite the state's small size. Individual farmers accounted for 93.1 per cent of agricultural holdings, with organisations making up the remaining 6.9 per cent. The census also highlighted the active role played by senior citizens, with more than half of Malaysians aged 60 and above still engaged in agriculture. Mohd Uzir noted that the presence of older farmers in the field remains strong, while youth involvement presents further opportunities to enhance sector productivity. -- BERNAMA BERNAMA provides up-to-date authentic and comprehensive news and information which are disseminated via BERNAMA Wires; BERNAMA TV on Astro 502, unifi TV 631 and MYTV 121 channels and BERNAMA Radio on FM93.9 (Klang Valley), FM107.5 (Johor Bahru), FM107.9 (Kota Kinabalu) and FM100.9 (Kuching) frequencies. Follow us on social media : Facebook : @bernamaofficial , @bernamatv , @bernamaradio Twitter : @ , @BernamaTV , @bernamaradio Instagram : @bernamaofficial , @bernamatvofficial , @bernamaradioofficial TikTok : @bernamaofficial
