I found main hole covers near my house area are badly bent. It is really dangerous for any vehicles passing through the road. Furthermore during heavy raining, you can’t really see the dented main holes.
The postponed Maybank 61st AGM was conducted on 6th May 2021. This is my second time join Maybank AGM online.
Maybank was supposed to conduct their 61st AGM on 15th April but due to technical glitch they had to postpone the AGM to 6th May.
The AGM starts at 10AM and ends by 330PM
Maybank Online AGM is conducted via Boardroom.
Key Highlights FY2020 Performance
Net Operating Income increases 0.6% YOY
Overhead reduces by -2.7% YOY
Pre provision profit is RM13.52B (increase by 2.6%)
Provision for Credit losses increase more than 100% to RM5.07B
Covid 19 pandemic forced border closures.
Result in weak global and domestic demand
Low interest rate environment
Asset qualities weakness
52 sen dividend payout for Y2020
Maybank dividend yield is higher than other banks in Malaysia and regional banks.
Highest dividend payout for the past 10 years at 91.2% payout
Capital level is still healthy even after dividend payout
Customers – provide financial relief
Employees – enabled WFH and other safety measures
Investors – reclassification of dividend for faster payout
Regulators – establish framework and guidelines for lending
Communities – Maybank contributed over RM20M to mercy
Moving Forward FY2020 – Digital Solutions
M25 – 13% – 15% ROE and more than 100 sen earning per share
Digital journey – SME online application, EzQ to make appointment to any Maybank branch and develop online platform for small businesses.
Corporate Social Responsibilities
Contributed RM20M to Mercy
Raised RM3M to assist vulnerable communities and to support Covid-19 initiative
Questions from Shareholders
Most questions are regarding Covid-19 impact to Maybank performance & its dividend policy.
Maybank CEO explained that it is hard for Maybank to gauge the impact but the dividend policy remains around 60% of net profit.
For all attendees of Maybank AGM will receive RM50 to their MAE for the postponed AGM and another RM50 who attended the AGM on 15th April. So who attended both AGMs will receive RM100.
According to Maybank, they don’t plan to reduce their branches like other global banks.
Maybank uses its huge database on analysis for credit risks and loan offering.
Another question whether Maybank plans to introduce its own bitcoins in which Maybank replies no.
A shareholder asks why Maybank appoints Tan Sri Zam as its chairman who doesn’t have any financial background. According to Maybank they need someone with technology background at board level to help Maybank in their digital journey.
Good insight on Maybank performance on the meeting and Maybank plans to do more digital solutions moving forward to mitigate Covid-19 impact.
Another good thing receive door gift of RM50 which this is my second time receiving RM50 for attending Maybank AGM.
I have a housing loan with Maybank. So I want to know how to reduce the principal. So I called Maybank call centre and according to the call centre, I need to deal directly with Maybank branch where I applied my housing loan.
If you don’t know the branch phone number you can get it from Maybank call centre.
When I call to Maybank branch where I applied my loan, the person in charge informed me the steps.
1) Transfer Extra Payment Directly to Maybank Housing Loan
The extra payment is parked at advance payment but the outstanding loan is still be reduced
2) Outstanding Loan will be Automatically Reduced
3) If Advance Payment is More than the monthly payment, Standing Instruction (SI) is automatically stop for next payment cycle (If you pay from SI)
4) If you want Advance Payment to be transferred directly to Loan Principal
Go to any Maybank branch to give instruction to transfer the advance payment.
It requires customer thumb print to do this thats why have to go to the branch.