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Friday, January 24, 2014

MBSB cautiously optimistic on 2014


Financial service provider Malaysia Building Society Bhd (MBSB) expects 2014 to be its most challenging year ever, mainly due to Bank Negara Malaysia's strict guidelines on loan financing and regulatory compliance.

"2014 will be most challenging due to the stricter guidelines on loan financing and regulatory compliance," said MBSB president and chief executive officer Datuk Ahmad Zaini Othman during Bursa Malaysia's "Spotlight on Malaysia 2014" forum yesterday.

"It will definitely challenge our ability to meet our customers' and stakeholders' expectations, thereby calling for further innovation on our part."

Contribution from retail loans is expected to fall to 60 per cent from 75 per cent last year.

The company aims to increase its corporate loan growth by as much as 20 per cent this year.

MBSB had earlier said it wanted to raise corporate loans' revenue contribution to 40 per cent this year, up from 25 per cent last year.

Ahmad Zaini was among the speakers at the event, who included Kossan Rubber Industries' general manager Edward Yip, Karex Bhd's chief executive officer Goh Miah Kit and UMW Oil and Gas' president Rohaizad Darus.

As part of its innovation plan, MBSB will also launch an oil palm plantation financing programme by April.

It is already in talks with potential clients in Sabah and Sarawak.

"We have set up a team to offer the new service to potential clients," Ahmad Zaini said.

The firm will also focus on its healthcare and infrastructure programmes and will set up 13 more branches by year-end.

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