Latest news with #RM66
Herald Malaysia
13 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
3 days ago
- Business
- New Straits Times
UWC Q3 earnings up 98pct on semiconductor rebound, no dividend declared
KUALA LUMPUR: UWC Bhd's net profit for the third quarter ended April 30, 2025, nearly doubled to RM7.96 million from RM4.02 million a year earlier, driven by a strong recovery in the semiconductor market. Revenue for the quarter climbed 45 per cent to RM95.56 million from RM66 million, boosted by improved demand from the semiconductor segment, which remains the company's largest revenue contributor. In a filing with Bursa Malaysia today, the group said the rebound in semiconductor demand helped lift its pre-tax profit to RM9.76 million, up from RM6.53 million a year earlier. Earnings per share for the quarter rose to 72 sen from 36 sen previously. No dividend was declared for the quarter. As at April 30, UWC's cash and bank balances stood at RM26.57 million, down from RM80.99 million at end-July 2024, due to significant capital expenditure and a net operating cash outflow of RM13.33 million. Total liabilities increased to RM92.32 million from RM65.70 million, while borrowings amounted to RM9 million compared to zero previously, reflecting new banker acceptance and revolving credit facilities. Looking ahead, the company said future prospects are underpinned by continued project wins and capacity expansion in front-end semiconductor, electric vehicle and medical technology segments. "The group still maintains an optimistic outlook towards both its business and the industries in which it operates in for the coming years while currently observing signs of recovery," it said. UWC said it is actively undertaking new construction and production capacity expansion projects to cater to growing demand, particularly in artificial intelligence-related semiconductor manufacturing and next-generation life science technologies. "With a robust pipeline of new building projects and focus on capital expenditure, the group will be well positioned for substantial growth and long-term value creation of the front-end semiconductor business," it added. It also expects growth in the life science and medical technology segment to remain strong, supported by ongoing customer wins and increased demand for DNA analysers, virus extraction machines and precision mobility products.
Borneo Post
3 days ago
- Borneo Post
Civil servant, ex-state official nabbed over RM66,000 bribery in land application
KOTA KINABALU (June 17): The Malaysian Anti-Corruption Commission (MACC) Sabah has arrested a civil servant and a former state government department staff on suspicion of soliciting and accepting bribes amounting to RM66,000 as inducement to process land applications and conduct land lot surveys. According to sources, the two male suspects, aged in their 50s and 60s, were detained between 10am and 11am on Tuesday after giving their statements at the Sabah MACC office. 'The suspects are believed to have committed the offence around 2016, despite neither being authorised to process land applications nor owning the land lots involved in the survey,' said a source. Initial investigations revealed that the suspects allegedly received bribes amounting to RM54,000 and RM12,000 respectively from multiple individuals to facilitate the processing of land applications and the census of land lots under the state government's land scheme. When contacted, Sabah MACC director Datuk S. Karunanithy confirmed the arrests and said the case is being investigated under Section 17(a) of the Malaysian Anti-Corruption Commission Act 2009. He added that both suspects are expected to be charged soon.
Daily Express
3 days ago
- Daily Express
Sabah MACC nabs two in RM66,000 bribery case over land applications
Published on: Tuesday, June 17, 2025 Published on: Tue, Jun 17, 2025 Text Size: KOTA KINABALU: The Malaysian Anti-Corruption Commission (MACC) has arrested a serving civil servant and a retired state official in Sabah for allegedly soliciting and receiving about RM66,000 in bribes to process land applications and conduct lot surveys. Sources said the two male suspects, aged in their 50s and 60s, were detained between 10 and 11 am today while giving statements at the MACC Sabah office. Advertisement The alleged offences occurred around 2016, despite both individuals having no authority to process land matters or access to the relevant lots. Preliminary investigations revealed the duo received RM54,000 and RM12,000 respectively from multiple individuals in exchange for processing applications under the state land scheme. Sabah MACC director Datuk S. Karunanithy confirmed the arrests, adding that the case is being investigated under Section 17(a) of the MACC Act 2009. Both suspects will be charged soon. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
The Star
3 days ago
- The Star
MACC nabs duo for graft involving Sabah land applications
KOTA KINABALU: A civil servant and a retiree have been arrested in connection with RM66,000 in bribes to process land applications in 2016. The two men, in their 50s and 60s, were arrested on Tuesday (June 17) morning after giving statements at the Malaysian Anti-Corruption Commission (MACC) office here. According to a source, the suspects had no authority to process land applications, nor did they own land for census purposes, when the alleged crimes were committed. The civil servant and retiree were said to have received RM54,000 and RM12,000, respectively, from several individuals for applications under a state land scheme. Sabah MACC director Datuk S. Karunanithy confirmed the arrests and said that the cases are being investigated under the MACC Act 2009. 'Both suspects will be charged soon,' he said.
