AMMB shares, structured warrants fall in morning trade

KUALA LUMPUR, March 3 — AMMB Holdings Bhd’s shares and structured warrants fell in the morning session today after a two-day suspension of trading on Bursa Malaysia following its global settlement proposal on Friday.

At 11.45am, AMMB Holdings shares were down 34 sen to RM2.82, while Ambank-C23 eased two sen to three sen, as investors weighed on the RM2.83 billion to be paid towards the full and final payment, which is also known as the global settlement, relating to its involvement in 1Malaysia Development Bhd issues.

The banking group also recently announced a lower net profit of RM263.83 million for the third quarter ended Dec 31, 2021, from the RM382.15 million recorded a year earlier, while revenue slipped 2.2 per cent year-on-year to RM2.09 billion.

For its nine-month financial performance, the group’s net profit dropped to RM866.32 million from RM1.09 billion, affected by additional macro provisions during the year while it continued to extend financial assistance to borrowers. — Bernama

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