KUALA LUMPUR: The Minority Shareholder Watchdog Group (MSWG) will query MALAYAN BANKING BHD [] (Maybank) over the reasons for the increase in impaired loans for working capital and other financial portfolios.
The questions would be raised at the banking group's annual general meeting at the Sime Darby Convention Centre on Thursday, Sept 29.
According to Maybank's recent annual report, under the impaired loans, advances and financing purposes by economic purpose at group level, the total amount for the banking group was RM8.756 billion compared with RM6.186 billion a year ago.
MSWG said loans under working capital increased from RM2.8 billion (2010) to RM5.60 billion (2011) while under others, the amount increased'' substantially from RM239.8 million to RM491.4 million.
MSWG also said in terms of exposure by geographical distribution, thw impaired loans for Labuan Offshore had increased from RM79.9 million in 2010 to RM351.1 million in 2011.
'Likewise, impaired loans reported for Indonesia, Singapore, Bahrain and the Philippines have also recorded substantial increases compared to 2010,' it said.
The annual report showed that at the group level, in geographical exposure, the group's impaired loans for Labuan offshore operations increased 339.4% to RM351.1 million from RM79.9 million a year ago.
Impaired loans for Indonesia, Singapore, Bahrain and the Philippines have also increased compared to previous years.
MSWG said it would raise question on the reasons for the drastic increase in the amount of impaired loans for the working capital and other financing portfolio and weer there any concentrations by type of industry or customer segments.
Another question would be the reasons for the substantial increase in the impaired loans for the overseas operations including Labuan Offshore operations. it added.
The questions would be raised at the banking group's annual general meeting at the Sime Darby Convention Centre on Thursday, Sept 29.
According to Maybank's recent annual report, under the impaired loans, advances and financing purposes by economic purpose at group level, the total amount for the banking group was RM8.756 billion compared with RM6.186 billion a year ago.
MSWG said loans under working capital increased from RM2.8 billion (2010) to RM5.60 billion (2011) while under others, the amount increased'' substantially from RM239.8 million to RM491.4 million.
MSWG also said in terms of exposure by geographical distribution, thw impaired loans for Labuan Offshore had increased from RM79.9 million in 2010 to RM351.1 million in 2011.
'Likewise, impaired loans reported for Indonesia, Singapore, Bahrain and the Philippines have also recorded substantial increases compared to 2010,' it said.
The annual report showed that at the group level, in geographical exposure, the group's impaired loans for Labuan offshore operations increased 339.4% to RM351.1 million from RM79.9 million a year ago.
Impaired loans for Indonesia, Singapore, Bahrain and the Philippines have also increased compared to previous years.
MSWG said it would raise question on the reasons for the drastic increase in the amount of impaired loans for the working capital and other financing portfolio and weer there any concentrations by type of industry or customer segments.
Another question would be the reasons for the substantial increase in the impaired loans for the overseas operations including Labuan Offshore operations. it added.
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