MBSB dips 2.1% on slump in 1Q earnings

-A +A

KUALA LUMPUR (May 16): Malaysia Building Society Bhd (MBSB) shares dipped 2.1% at mid-morning today after it reported a 73.5% net profit fall in its first quarter ended March 31, 2019 (1QFY19).

At 10.54am, MBSB fell 2 sen to 93 sen with 2.25 million shares traded.

MBSB's 1QFY19 net profit declined to RM83.83 million from RM316.79 million a year ago, due to higher expected credit losses.

Revenue for 1QFY19 declined 3.8% to RM784.04 million from RM815.04 million a year ago.