KUALA LUMPUR: Hwang-DBS (M) Bhd’s net profit fell 34% to RM14.19 million for 1QFY12 ended Oct 31 from RM21.5 million a year earlier, due to reduction in stockbroking income, and lower mark-to-market gain on securities held for trading.
In a filing with Bursa Malaysia, Hwang-DBS also attributed its lower net interest income to narrowing of interest margin and net loss incurred on derivatives. However, it noted that the losses were cushioned by net foreign exchange gain and an insurance receipt by a subsidiary.
Its net interest income was RM21.07 million, 16.4% lower than RM25.21 million a year earlier. Hwang-DBS’ revenue fell 13.43% to RM83.43 million from RM96.37 million a year ago. It posted basic earnings per share of 5.56 sen versus 8.42 sen.
“The operating revenue for the period under review is impacted by the lower stockbroking brokerage income in line with lower value traded by the investment banking subsidiary and decrease in interest income derived from loan portfolios,” it said. These were, however, mitigated by higher management fees and gains from securities trading.
Hwang-DBS gained eight sen to close at RM2.33 with 11,000 shares traded.
This article appeared in The Edge Financial Daily, December 9, 2011.
In a filing with Bursa Malaysia, Hwang-DBS also attributed its lower net interest income to narrowing of interest margin and net loss incurred on derivatives. However, it noted that the losses were cushioned by net foreign exchange gain and an insurance receipt by a subsidiary.
Its net interest income was RM21.07 million, 16.4% lower than RM25.21 million a year earlier. Hwang-DBS’ revenue fell 13.43% to RM83.43 million from RM96.37 million a year ago. It posted basic earnings per share of 5.56 sen versus 8.42 sen.
“The operating revenue for the period under review is impacted by the lower stockbroking brokerage income in line with lower value traded by the investment banking subsidiary and decrease in interest income derived from loan portfolios,” it said. These were, however, mitigated by higher management fees and gains from securities trading.
Hwang-DBS gained eight sen to close at RM2.33 with 11,000 shares traded.
This article appeared in The Edge Financial Daily, December 9, 2011.
