AmBank launches “Amazing 30” promotional offers

KUALA LUMPUR, Sept 21 (Bernama) — AmBank Group has launched the “Amazing 30” promotion with over 30 retailers, F&B outlets and 13 online partners offering AmBank credit and debit card customers with up to RM30 in cashback, RM30 OFF or 30% OFF.
 
Aaron Loo, Managing Director, Retail Banking, AmBank says, “This campaign was launched as part of our ongoing refresh of AmBank’s client value proposition. We wanted to ensure that our customers continue to be rewarded for their loyalty and depth of relationship with AmBank.

“We will continue to work with our partners to bring in more value for our customers and look forward to their continued support.”
 
During the campaign period, AmBank Card Holders can either earn RM30 cashback, or get RM30 off or enjoy 30% off at many popular merchant outlets.

Attractive savings are up for grabs for online shoppers as well during the weekend on prominent e-commerce platforms such as ZALORA, Lazada and Shopee.

Daily deals are also available for a variety of dining outlets including Madam Kwan’s Restaurant, McDonald’s, Starbucks Coffee and many more. Customers can also get RM30 cashback on their groceries spending at Jaya Grocer, Village Grocer and many more.
 
For a full list of offers under AmBank Amazing 30 campaign, head on to ambank.com.my/amazing30 and start saving!
 
For customers who have yet to hold an AmBank Credit Card, apply for one now at ambank.com.my/AGR and enjoy 20% cashback when you apply and spend with your new card on top of these Amazing 30 deals.


AmBank launches first term loan linked to a point-of-sale terminal

KUALA LUMPUR, Aug 24 (Bernama) — AmBank has launched PayG, Malaysia’s first term loan where its size is linked to the volume of business processed through a merchant POS terminal.

This will enable clients to access working capital that is aligned to the size of their business and offers greater flexibility and control.

It is also part of a growing suite of solutions for SME clients under AmBank’s SME in a Box programme that not only provides financial services but is well-positioned to help SME’s transition into the digital economy through its various strategic partnerships with telcos, e-commerce ventures and loyalty programmes.
 
“I am excited with the launch of PayG as we continue to enhance our digital solutions for SMEs. With PayG, we are able to offer our customers with quick access to working capital using data obtained through the POS terminal.

“Over time we will continue to enhance this offering and aim to make it even easier and quicker to access.” said Aaron Loo, Managing Director, Retail Banking, AmBank.
 
“We are constantly improving and enhancing our product and services offerings digitally for our customers. With Pay As You Grow, we have created the easiest financing option for merchants looking for quick and fuss-free working capital.

“The end to end process is easy, starting from applying for the loan, to receiving the funds and even all the way to repayment. Pay As You Grow repayment is auto-deducted in micro-amounts from the merchant’s daily billing,” said Datuk Iswaraan Suppiah, Group Chief Operations Officer, AmBank Group.
 
PayG is unique in a way that it allows AmBank to offer its merchant partners term loans using the transaction data obtained through the POS terminal.

As merchant business volumes grow, the size of the loan offered will grow with it.
 
AmBank is currently a leader in providing Merchant Business Solutions and currently serves over 40,000 merchants through its extensive network of branches and relationship managers.

The launch of PayG further strengthens AmBank’s position as a market leader in both – merchant and digital space. 

For further information on PayG, kindly visit ambank.com.my/payg


Refreshed AmBank app enhances the user experience

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KUALA LUMPUR, Aug 19 (Bernama) — AmBank Group is pleased to announce its award-winning mobile app – AmOnline has been refreshed with a much-improved design and user experience.

The new AmOnline app will be available on iOs, Android and Huawei by August 2020.
 
Aaron Loo, Managing Director, Retail Banking, AmBank (M) Bhd said “We are constantly enhancing our mobile banking app to suit the diverse needs of our customers.

These updates come at the right time as clients migrate to digital interaction as we adapt to the new normal of physical distancing.”

He added that the bank saw an accelerated growth of 61% in the usage of online banking so far this year, versus the same period in 2019. The trend is expected to continue as we introduce more features on the AmOnline app.

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“We are delighted to launch improvements that extend more freedom for our customers to address their banking needs at their personal time and space.

“It is important for the group to keep introducing advanced features to remain relevant and competitive in the market,” said Datuk Iswaraan Suppiah, Group Chief Operations Officer, AmBank Group.
 
“All the features that won AmOnline awards as the best mobile banking app in Malaysia are now more intuitive and presented in an engaging design that gives customers more tools to understand and better manage their finances at their fingertips.

“Apart from the fresh new look, we have made the app faster,” added Datuk Iswaraan.
 
The new AmOnline boasts a refreshing new design, more intuitive banking journey, with enhanced security features for an overall better experience.

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The AmOnline app now has the entire 360° capabilities from allowing customers to open a new account, invest, borrow money, consolidate debt, get a credit card, purchase insurance in an entirely touchless, paperless experience.

Customers can conveniently block a lost card, enable overseas spend on their debit cards, and even seek a temporary credit limit increase on their credit card to tide over an urgency.

The much-appreciated feature that allows customers to search their past payment transactions has been improved too, allowing a past payment transaction to be repeated with a simple swipe.


Ambank group signs financing facilities with Lagenda Properties

KUALA LUMPUR, Aug 14 (Bernama) — AmBank Group has inked loan facilities and end financing deal with Lagenda Properties Berhad, formerly known as D.B.E. Gurney Resources Berhad.

The official exchange of documents ceremony was held today at Sheraton Hotel in Petaling Jaya. Representing AmBank Group was Mr. Christopher Yap, Managing Director, Business Banking while Lagenda Properties Berhad was represented by its Managing Director, Dato’ Jimmy Doh Jee Ming.

The exchange of documents ceremony was witnessed by Chairman of AmBank (M) Berhad, Mr. Voon Seng Chuan, Non-Independent Non-Executive Chairman of Lagenda Properties, Dato’ Marcus Doh Tee Leong and Group Chief Executive Officer of AmBank Group, Dato’ Sulaiman Mohd Tahir.

“We are impressed by Lagenda Properties Berhad’s commitment to affordable housing and are happy to support them in line with AmBank Group’s efforts to continually provide optimised financing facilities that best suit the needs of our valued clients.

“We are keen to be part of their growth story and we look forward to many more opportunities for AmBank Group and Lagenda Properties Berhad to partner.”

Dato’ Sulaiman Mohd Tahir, Group Chief Executive Officer, AmBank Group

The group hope the bank’s confidence in their affordable township development reflects their capabilities and expertise in undertaking such large township projects.

Today’s official exchange of financing facilities documents will enable us to help meet the high demand for affordable homes.

“Many Malaysians are looking for such homes, while at the same time helping the government to resolve a nationwide affordable housing issue in Malaysia.

“Furthermore, our unique business model allows us to sell up to 30% below the nearest comparable houses (pricing less than RM200,000) while maintaining a double-digit (profit after tax) margin for the Lagenda Properties group.

“We will continue to create more townships that are affordable and to grow Lagenda Properties. Concurrently, we will continue to explore complimenting business opportunities to further augment our market presence throughout Malaysia,” said Dato’ Jimmy Doh Jee Ming, Managing Director, Lagenda Properties Berhad..

Lagenda Properties Berhad has its name changed recently from D.B.E. Gurney Resources Berhad, with an unchanged stock code.

The group completed the acquisition of three companies namely, Blossom Eastland Sdn Bhd, Rantau Urusan (M) Sdn Bhd and Yik Wang Trading Sdn Bhd on August 12.

The affordable housing development arm has scaled up significantly with a remaining aggregate gross development value of approximately RM2.1 billion.

It also has unbilled sales of RM532 million together with a sizeable land bank of around 1,200 acres to be developed.

Lagenda Properties now has two major affordable housing township projects known as Bandar Baru Setia Awan Perdana and Lagenda Teluk Intan.

Since 2012, AmBank Business Banking division has approved a total of RM480 million loan facility, including the recent facility amounting RM150 million.

AmBank Business Banking division aims to maintain its position as Lagenda’s primary financing partner in Lagenda’s next growth phase.

“In addition, we are looking to expand our facilities to Lagenda’s business partners including their contractors and suppliers with our working capital and contract financing facilities,” says a media release.

Meanwhile, AmBank Retail Banking is looking to approve up to RM300 million worth of end financing for the group’s various ongoing and future project.

This includes the building of the first three phases of new township – Lagenda Teluk Intan with an estimated 6,390 units of affordable homes.

AmInvestment Bank Berhad is the Principal Adviser to Lagenda Properties for their recent acquisition of real estate assets worth RM823 million.

AmInvestment is also the sole Placement Agent for Lagenda Properties’ upcoming placement exercise.

AmBank Group will remain steadfast and continue to support Lagenda Properties, specifically on affordable house schemes in order to play our role as a responsible and caring Financial Institution.


AMBANK PRIORITISES CUSTOMER INTEREST

 KUALA LUMPUR, Aug 11 (Bernama) — AmBank will be offering repayment assistance and moratorium extension to not only individuals but also SMEs, upon the expiry of the six-month loan moratorium on Sept 30, 2020.
 
Dato’ Sulaiman Mohd Tahir, Group Chief Executive Officer, AmBank Group, said, “AmBank is now accepting requests for loan restructuring and rescheduling from customers. As per our previous announcement in June and our practice for the past few years now, we are committed to helping our customers in their times of need. We are further encouraged by the recent announcement by the Prime Minister on a targeted extension for the moratorium on bank loans.”
 
“To this end, we are prioritising the needs of our customers in this difficult time and will be offering repayment assistance and moratorium extension to help our customers meet their payment obligations. Our targeted programme will benefit customers who lost their jobs this year and have yet to find employment as well as employees with reduced wages. Our assistance will further extend to SMEs as we understand that many businesses are highly affected by the aftermath of the COVID-19 pandemic.”
 
“We encourage our customers to reach out to our customer service team or relationship managers to discuss further on this,” concluded Dato’ Sulaiman.
 
For further information or assistance, customers may call:
 

For individual customers – 03-2178 8888
For SME customers – 03-2178 3188
or email us at customercare@ambankgroup.com or visit https://www.ambank.com.my/eng/repayment-assistance or visit a nearest branch.


Recovery Plan: Biggest winner automobile sector and car buyers

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The short-term National Economic Recovery Plan (June–December 2020) (Penjana), launched by PM Tan Sri Muhyiddin Yassin on 5 June 2020, will help restart the economy after a soft patch against a backdrop of the movement control order (MCO), followed by the conditional MCO, over the last three months to contain the Covid-19 pandemic.

This third stimulus instalment in response to the pandemic with a total spending of RM35bil shall continue to save lives and livelihoods (especially in helping the low-income and disadvantaged groups to tide through these challenging times), restore and revitalise businesses, and aid the economy in adapting to the new normal (work from home, social distancing and digitalisation, including e-commerce and remote learning), steering it back to the growth path.

The biggest winners of the plan are the automobile sector and car buyers with a 100% and 50% sales tax (SST) exemption on CKD locally assembled and CBU fully imported car models respectively from 15 June 2020 until 31 December 2020.

“Based on our channel checks, the 100% SST exemptions will result in a reduction of 7–8% of CKD car prices, while the 50% SST exemptions will reduce CBU car prices by 3–4%,” says AmBank Research.

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AmBank Group Reports Net Profit of RM659.7 million for H1FY18


AmBank Group second-quarter net profit slipped 6% year-on-year (y-o-y) on higher interest expense
and other operating expenses, said the bank today in a media release.

Datuk Sulaiman Mohd Tahir (Dato’ Sulaiman), AmBank Group Chief Executive Officer said the group's 
modest 2.3% year-on-year (Y-o-Y) improvement in total income of RM1,949.1 million for the half year 
ended 30 September 2017 was encouraging.

"Our topline growth momentum was sustained in Transaction Banking, Business & SME
Banking and Retail Banking whilst markets based revenue was affected by the volatility in the market.

“The Group recorded an encouraging 9.9% growth YoY in NII supported by interest income from customer
lending and fixed income securities. Interest income from customer lending continued to benefit from the
robust growth in our targeted segments namely mortgages and the small and medium-sized enterprises
(SME) segments. Interest income from securities grew mainly from trading securities and investment in
unrated corporate bonds and sukuk,” he said.

Datuk Sulaiman said the bank's loans and financing base grew 2.2% year-to-date (YTD) since 31 March 
2017 to RM93.0 billion underpinned by an increase of RM2,187.7 million (+10.0% YTD) in mortgage 
loans and RM1.1 billion (+7.6% YTD) in SME loans.

"As a result of our targeted card usage programmes, our cards receivables contributed RM80.7 million 
to our loans base, marking an encouraging YTD growth of 4.8%.  As a testament to the effectiveness of 
our cards strategy and our strong drive to provide excellent value to our cardholders.

"We have been recognised by the industry at the regional level for our BonusLink Visa Card programme. 
We were honoured as the “Best Co-Branded Credit Card” and “Best Travel Reward Credit Card” at the 
CMO Asia Smart Card and e-Payment Awards 2017 in Singapore recently. The Awards were in recognition 
of customer service as well as excellence and innovation in the Asian card and
payments industry.”