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Kenanga Group Posts All-Time-High RM1 Billion Revenue and RM155.5 million Operating Profit in FY2024

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KEY HIGHLIGHTS
FY2024 VS FY2023

  • Revenue at RM1.0 billion, up by 22.3%

  • Operating Profit at RM155.5 million, up by 88.7%

  • Profit Before Tax (“PBT“) at RM117.2 million, up 33.1%

  • Net Profit at RM95.8 million, up by 31.6%

  • Net Income at RM799.6 million, up by 22.6%

  • Operating Expense at RM644.0 million, up by 13.0%

  • Return on Equity at 8.75%, up by 25.8%

  • Earnings Per Share at 13.18 sen, up by 31.3%

  • Net Equity Trading Investment Income at RM55.8 million, up by 30.8%

  • Overall Market Share at 9.6%, Retail Segment Market Share at 25.3%

  • Asset Under Administration (“AUA“) at RM23.5 billion, up by 8.5%

KUALA LUMPUR, MALAYSIA – Media OutReach Newswire – 26 February 2025 – Kenanga Investment Bank Berhad (“Kenanga Group” or “The Group“), Malaysia’s leading independent investment bank, today delivered one of its strongest financial results to date for the financial year ended 31 December 2024 (“FY2024“). The Group posted an all-time high revenue of RM1.0 billion, up 22.3% year-on-year, while operating profit surged 88.7% to RM155.5 million, also its highest yet. PBT rose 33.1% to RM117.2 million, while net profit climbed 31.6% to RM95.8 million.

Datuk Chay Wai Leong, Group Managing Director, Kenanga Investment Bank Berhad
Kenanga Group’s strong results were driven by a significant revaluation gain on strategic investments through its Private Equity arm, alongside higher trading and investment income, net brokerage income, and management and performance fees. Increased contributions from associates further bolstered its bottom line, partially offset by credit loss expenses.

Reflecting this performance, the Board of Directors has declared an interim single-tier dividend of 8.00 sen per ordinary share for FY2024.
“2024 was another landmark year for Kenanga Group, delivering one of our strongest financial performances to date, despite market headwinds. This milestone underscores the resilience of our diversified business model and our disciplined approach in capitalising on growth opportunities across all our key business segments,” said Datuk Chay Wai Leong, Group Managing Director, Kenanga Investment Bank Berhad.
Kenanga Group’s Stockbroking division recorded RM363.6 million in revenue, a 17.9% increase from the previous year. PBT eased to RM15.4 million from RM16.1 million in FY2023, reflecting the impact of credit loss expense incurred during the year as opposed to a writeback in the previous year. Amid heightened market volatility and an evolving competitive landscape, the division successfully maintained its retail market share of 25.3%. The structured warrants business remained a key contributor, reinforcing the Group’s position as Malaysia’s leading issuer, with the highest market share in warrants trading volume.

Its Asset and Wealth Management division posted revenue of RM303.9 million, an increase of 14.9% year-on-year. The revenue was primarily driven from its institutional and retail segments. Despite higher overhead cost, which led to a PBT of RM47.0 million relative to RM58.7 million in 2023, the division’s AUA saw strong growth, closing at RM23.5 billion, an increase of RM1.8 billion year-on-year.

The Group’s Investment Banking division registered a jump in both revenue and PBT for FY2024, with a 10.0% increase in revenue to RM246.4 million, and an 8.4% increase in PBT to RM6.2 million. This was driven by higher investment income from treasury and fee income, buoyed by a vibrant bond market and capital market.

Kenanga Group’s Listed Derivatives business continued its growth streak, delivering yet another year of record performance. Revenue climbed 15.3% to RM27.6 million, while PBT surged 24.1% to RM7.8 million, its highest in over a decade. This sustained upward trajectory was fueled by higher trading commissions and interest income, supported by a surge in trading activity across the listed derivatives market.
“As we enter 2025, our focus remains on growing our core businesses while accelerating digital transformation. By strengthening recurring income streams, optimising cost efficiencies, and expanding product offerings, we are positioning Kenanga Group for sustainable, long-term growth,” added Datuk Chay.
“With a legacy that spans over five decades, we continue to leverage our vast experience from navigating market cycles, and create synergies across our ecosystem to drive innovation, expand market reach, and create greater value for our stakeholders,” concluded Datuk Chay.

Beyond financial performance, Kenanga Group remains committed to responsible and sustainable growth. In 2024, this commitment was reaffirmed with the Group’s continued inclusion on the FTSE4Good Bursa Malaysia Index, ranking among the Top 8% of Malaysian public-listed companies.

Hashtag: #Kenanga

The issuer is solely responsible for the content of this announcement.

About Kenanga Investment Bank Berhad (197301002193 (15678-H))

Established for over 50 years, Kenanga Investment Bank Berhad (“The Group“) is a leading financial group in Malaysia, offering a wide range of services, including equity broking, investment banking, treasury, Islamic banking, listed derivatives, investment management, wealth management, structured lending, and trade financing. The Group’s digital innovations include the launch of KDi GO, a wealth-centric app, along with game-changing products such as Rakuten Trade, Malaysia’s first fully digital stockbroking platform, and Kenanga Digital Investing, an A.I. robo-advisor.
Kenanga has garnered multiple awards, including top honours at the Bursa Excellence Awards 2023 and The Edge Malaysia Centurion Club 2023. The Group also secured the Top 20 Overall Excellence and the Niche Cap Excellence Award at the National Corporate Governance and Sustainability Awards 2024. As one of the highest- scoring constituents of the FTSE4Good Bursa Malaysia Index and a Participant of the United Nations Global Compact, Kenanga continues to drive collaboration, innovation, and sustainability in the financial industry.

For more information, please visit

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GAC AION Unveils the Aion V: Redefining Electric Mobility with Advanced Technology and Design

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SINGAPORE – Media OutReach Newswire – 28 February 2025 – GAC AION, the electric vehicle division of VINCAR Group, is pleased to announce the launch of the Aion V electric SUV. This new model introduces advanced features and a sustainable design, setting new benchmarks in the electric vehicle market.

Exterior View of Aion V

Product Highlights

The AION V offers a WLTP range of 485km per charge, making it the longest-range option in Category A. It features 3C fast charging technology, allowing up to 300 km of range to be recharged in 15 minutes, the fastest charging EV in its category. Designed for comfort, it includes a spacious interior with 180-degree lie-flat front seats and massage seats, a first in its category.

Design and Luxury

The Aion V electric SUV features a T-Rex Cyber Design with geometric shapes and full LED headlights, available in eight colour options. The interior is designed for comfort and convenience, incorporating soft-touch materials, premium leather seating, and front seats with memory, massage, heating, and ventilation functions. Additional features include a smart multi-function refrigerator, a panoramic glass roof, and a 9-speaker premium sound system with noise-reducing cabin materials to enhance the driving experience.

Innovative Technology

Equipped with the Snapdragon 8155P processor and AEP 3.0 platform, the Aion V smart car is designed for efficient performance and responsive operation. It includes L2 intelligent driver assistance and intelligent navigation with charging station search capabilities for enhanced safety and convenience. Future models are set to be upgraded to L2+, incorporating automatic parking and highway drive assist. The vehicle also supports voice control, CarPlay, and Android Auto for seamless connectivity.

Safety and Performance

The Aion V electric SUV is built with a high-strength body, utilising 72% lightweight materials and Magazine Battery 2.0 technology, designed to meet EURO NCAP’s 5-star safety standards. The battery has undergone extensive testing, demonstrating stability under various conditions. Safety features include a centre airbag, extended airbag curtain, blind-spot monitoring, and a 360-degree camera system, providing enhanced driver awareness and occupant protection.

Sustainable Impact

Aligned with sustainable transportation goals, the Aion V electric SUV operates under a zero-emissions design, reducing pollution and improving energy efficiency. Its 18-in-1 Integrated Power Unit achieves 17.2 kWh/100 km energy consumption, while Silicon Carbide Technology optimises power usage and extends driving range. The Lithium Iron Phosphate (LFP) battery enhances safety, sustainability, and longevity, supporting the brand’s commitment to energy-efficient electric mobility.

“Our new Aion V model epitomises GAC AION’s commitment to pushing the boundaries of what electric vehicles can offer. We are not just selling cars; we’re paving the way for a cleaner, more sustainable future where electric mobility is accessible to everyone,” shared Ernest Tan, Deputy CEO, VINCAR Group.

Market Availability

The Aion V electric SUV will be available for purchase on 26 February 2025, exclusively through the authorised dealer GAC AION and VINCAR Group. It is priced at $174,988, with a launch discount of $6,000, bringing the effective price to $168,988. The price is valid until March 5, 2025, at 12 PM, and includes a COE rebate of $87,000 under the Non-Guaranteed 8 Bids scheme.

For more details or to book a test drive, visit the Aion V website.
Hashtag: #GACAION



The issuer is solely responsible for the content of this announcement.

About GAC AION

GAC AION is dedicated to advancing electric mobility, prioritising accessibility, transparency, and reliability. The company’s mission is to make electric vehicle ownership achievable for all, underpinned by a steadfast commitment to innovation and quality.

About VINCAR Group
VINCAR Group is a leading multi-brand car dealer and importer in Singapore, focused on innovation and customer experience. They offer in-house financing, leasing, insurance, and after-sales services, prioritising a customer-centric approach. Committed to value and quality, VINCAR Group provides competitive pricing and a diverse vehicle selection, ensuring reliability through their rigorous vetting process.

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Tineco Unveils Two Revolutionary Floor Washers with Super New Arrival Promotion Starting from February 28th

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  • Tineco launches two new floor washers: Floor One S9 Artist and Floor One Switch S7 Stretch
  • Promotion available from February 28th to March 28th, 2025, with attractive gift-with-purchase and more!
  • These innovative floor washers combine cutting-edge technology, energy efficiency, and sleek design for a superior cleaning experience

SINGAPORE – Media OutReach Newswire – 28 February 2025 – In response to the common challenges faced by homeowners—such as stubborn odours, tangled hair, and the inconvenience of using multiple cleaning tools—Tineco has unveiled its latest innovations: the Floor One S9 Artist and Floor One Switch S7 Stretch. These next-generation floor washers offer exceptional flexibility, powerful deep-cleaning performance, and an enhanced user experience, designed to meet the needs of today’s modern households.

FLOOR ONE S9 ARTIST: ADVANCED 360° CLEANING WITH HYPER STRETCH TECH AND SELF-CLEANING INNOVATION

The Floor One S9 Artist offers an advanced solution for modern homes. Featuring the 360° SmoothDrive Technology, it reduces handholding effort by 50%* through flexible left-right movement and a 90° Swivel Design, which adjusts the speed of the left and right wheels in real-time. In addition, the transmission of signals to the AI chip enables intelligent matching, ensuring smooth forward pushing, backward pulling, and effortless steering.

Additionally, the Floor One S9 Artist incorporates Hyper Stretch Technology, featuring a slim 12.85 cm flat height, which allows easy access under furniture to effectively remove hidden dust and ensure no corner is left untouched.

With exceptional cleaning performance, the Floor One S9 Artist features a Dual-Block Anti-Tangle Design that efficiently handles both pet and human hair without tangling. The MHCBS (Maintain Hygiene Clean Brush System) continuously rinses the brush with fresh water, while a squeegee presses against the roller brush to scrape off dirt and immediately sucks the dirty water into the wastewater tank. Additionally, the Flashdry Self-Cleaning System enhances cleaning efficiency by using 85°C hot air to heat fresh water, dissolving stains from the pipe to the brush roller for a deeper, more thorough self-cleaning result.

Upgrades were also made to enhance user experience, such as the Backtrack Water Erasure function that eliminates water streaks, and the Repositioned Clean Water Tank that enhances cleaning efficiency with reduced weight for effortless operation. The optional Electrolyzed Water feature delivers a superior cleaning experience, making the Floor One S9 Artist a versatile and user-friendly floor care solution.

FLOOR ONE SWITCH S7 STRETCH: THE 5-IN-1 CLEANING REVOLUTION FOR EFFORTLESS FLOOR CARE

Tineco Floor One Switch S7 Stretch

The Floor One Switch S7 Stretch is a 5-in-1 cleaning tool, combining floor washing, vacuuming, crevice cleaning, soft surface care, and high-reach dusting into one compact device. Designed to replace traditional vacuums, it effortlessly handles wet and dry messes, including oily stains and hard-to-clean debris.

The Floor One Switch S7 Stretch revolutionizes floor cleaning with its advanced washing capabilities. With 22KPa of suction power, it effortlessly lifts dirt, debris, and hair, ensuring a deep and thorough clean every time. Like the Floor One S9 Artist, it features the MHCBS, which rinses the brush with fresh water 450 times per minute to guarantee spotless floors. The 180° lay-flat design and HyperStretch Technology allow it to clean under furniture and reach tight spaces as low as 13cm. Its Dual-Block Anti-Tangle Design prevents hair tangles, while dual-sided edge cleaning ensures no corner is left untouched. The FlashDry Self-Cleaning System utilizes fresh water heated to 85°C, combined with hot air, to dissolve stains and dry the brush in just 5 minutes, keeping it fresh and odour-free.

The Floor One Switch S7 Stretch also excels as a powerful vacuum cleaner. With its 5-stage filtration system which captures 99.97% of dust and debris as small as 0.3μm. Meanwhile, the ZeroTangle Brush effortlessly picks up hair without wrapping, and an LED headlight illuminates hard-to-reach areas, making cleaning under furniture effortless. The vacuum mode offers up to 70 minutes of runtime, powered by upgraded pouch cells that triple battery lifespan.

Images available in the media kit here.

AVAILABILITY & LAUNCH PROMOTIONS

Device Availability Launch Promotions

T&Cs apply, while stocks last

Floor One S9 Artist Available now on Shopee, Lazada, TikTok Shop and Mass Retailers Free Tineco iCarpet Spot Cleaner (worth S$379) + 6 bottles of cleaning solution
Floor One Switch S7 Stretch Available now on Shopee, Lazada, TikTok Shop and Mass Retailers Free Tineco iCarpet Spot Cleaner (worth S$379) + 6 bottles of cleaning solution


TINECO ROADSHOW AT PAVILION DAMANSARA HEIGHTS, KUALA LUMPUR

Happening on March 5th, Tineco will celebrate the launch of these two floor washers with a roadshow at Pavilion Damansara Heights (Centre Court), where visitors can try out the superior cleaning experience for themselves, score special deals and win prizes.

-END-

Hashtag: #Tineco

The issuer is solely responsible for the content of this announcement.

About Tineco

Founded in 1998, Tineco is a high-tech company and a wholly-owned subsidiary of ECOVACS Group (SHA: 603486). Dedicated to innovation, Tineco has consistently delivered smart home cleaning solutions that redefine convenience and efficiency. With the launch of the Floor One S9 Artist and Floor One Switch S7 Stretch, Tineco continues to lead the way in creating products that make everyday life easier and more enjoyable.

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Ne Zha 2 Dominates Hong Kong Box Office for Four Straight Days, Crowned 2025’s Top Film

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SHANGHAI, CHINA – Media OutReach Newswire – 27 February 2025 – Chinese animated blockbuster Ne Zha 2 has taken Hong Kong by storm, topping the city’s box office charts for four consecutive days since its release. As of now, its cumulative earnings in Hong Kong have surpassed $2.07 million, securing its position as 2025’s highest-grossing film in the region.

The premiere of the Chinese animated blockbuster “Ne Zha 2” was held in Hong Kong on February 18.

The sequel to the 2019 hit “Ne Zha” premiered in Hong Kong on February 18 and hit the theaters on February 22, drawing enthusiastic crowds and critical acclaim. The film reimagines the mythical tale of Ne Zha—a divine warrior from Chinese folklore—with modern storytelling and cutting-edge animation, captivating audiences across the Chinese mainland since its Lunar New Year debut.

The Hong Kong premiere at Causeway Bay drew a star-studded crowd, including representatives from its Hong Kong and Macau distribution teams, local cultural figures, and residents. Industry professionals praised the film’s technical brilliance and narrative depth, with many cinemas, such as Kowloon Tong’s Festival Grand Cinema, scheduling near hourly screenings to meet demand.

The billboards in Hong Kong cinemas promoting the release of "Ne Zha 2" on February 22.)
The billboards in Hong Kong cinemas promoting the release of “Ne Zha 2” on February 22.)

Two Hong Kong moviegoers shared their excitement after attending early screenings. One resident remarked, “I don’t usually watch adult-oriented animated films, but this one is definitely worth watching. Chinese animation can now rival, or even surpass, foreign productions.” Another added, “Chinese animation keeps improving. Compared to films six years ago, the artwork is more beautiful, the visuals more vibrant, and the storytelling completely unexpected.”

LO Shuk-pui, Director of the Hong Kong SAR Government’s Culture, Sports, and Tourism Bureau, highlighted the film’s collaborative effort, stating, “The script is exceptionally well-written, with sharp dialogue and rich character development. I heard 138 companies worked on this project over five years—the dedication and technical excellence are evident.”

WONG Bak-ming, Chairman of Hong Kong’s Oriental Film Company, emphasized its cultural significance, noting that Ne Zha series has successfully brought traditional Chinese stories to the global stage. It proves Chinese animation can achieve world-class results, and they’re proud to contribute to this milestone.

Globally, Ne Zha 2 has grossed over $1.698 billion as of February 18, surpassing “Inside Out 2” to become the highest-grossing animated film in history and entering the top eight of the all-time global box office chart. Due to its sustained popularity, the film’s screening period in Chinese mainland has been extended to March 30.

From its mythological roots to its record-breaking success, Ne Zha 2 continues to redefine the possibilities of Chinese animation, bridging cultural heritage with global appeal.

Hashtag: #ShanghaiEye

The issuer is solely responsible for the content of this announcement.

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