MATRKE income hits P324 M in 2012

MANILA, Philippines - Publicly-listed Maybank ATR Kim Eng Financial Corp. (MATRKE) has recorded a consolidated net income of P324.5 million for the year 2012, a slight increase from the P323.9 million posted in 2011. 

The non-bank financial institution is a joint venture between the Maybank Group of Malaysia and the Maybank Kim Eng group of companies.

MATRKE reported total consolidated revenues of P2.8 billion while consolidated assets amounted to P6.5 billion.

MATRKE president Manuel Tordesillas said that the company continued to perform consistently well in 2012.

“We look to capitalize on favorable economic conditions in the Philippines this year through our stronger capabilities and reach,” Tordesillas added. 

MATRKE is composed of Maybank ATR Kim Eng Capital Partners Inc., Maybank ATR Kim Eng Securities, AsianLife and General Assurance Corp. (ALGA), from ATR Kim Eng Asset Management, and ATRKE Land Inc. 

Maybank ATR Kim Eng Capital Partners Inc. reported a nine-percent increase in advisory and underwriting fees to P95 million last year, largely due to underwriting fees from an IPO and a secondary offer. 

Commissions increased by six percent to P633 million in 2012 with Maybank ATR Kim Eng Securities continuing to rank among the top brokers in a strong but competitive equities market.  

Meanwhile, ALGA recorded net insurance premiums of P1.4 billion in 2012, despite of the sale of AsianLife Financial Assurance Corp. (ALFA) in May 2012. Premiums came from ALGA’s full year operations as well as the first five months of ALFA prior to its sale. 

The past year also saw a significant 57-percent increase in management, administration and distribution fees from ATR Kim Eng Asset Management to P46 million from the previous years P29 million.

The total assets under management (AUMs) increased by 93 percent to P3 billion as investment into funds increased with the rise in asset prices. 

Gross real estate revenues from the sale of ATRKE Land-owned units at the TRIbeca Private Residences project in Sucat amounted to P71 million in 2012 as construction of the fifth tower in the complex is ongoing. 

“Synergies between Maybanks strong commercial banking franchise in the region and our successful capital markets and insurance operations in the Philippines have benefited the group, and we will continue to harness these opportunities moving forward,” Tordesillas said. 

The Maybank Group is Malaysias regional financial services leader with an international network of over 2,200 offices in 18 countries namely Malaysia, Singapore, Indonesia, Philippines, Brunei Darussalam, Vietnam, Cambodia, Thailand, Papua New Guinea, Hong Kong SAR, People’s Republic of China, Bahrain, Uzbekistan, Pakistan, India, Saudi Arabia, Great Britain and the United States of America. 

The group offers an extensive range of products and services, which includes commercial banking, investment banking, Islamic banking, stock broking, insurance and takaful and asset management. It has over 45,000 employees serving more than 22 million customers worldwide. 

The Maybank Kim Eng group of companies comprises securities and investment banking businesses stretching around the globe with offices in Malaysia, Singapore, Hong Kong, Thailand, Indonesia, Philippines, India, Vietnam, Saudi Arabia, Great Britain and the US.