Listed in 1967, Public Bank is the third largest banking group in Malaysia in terms of asset size and has over 10 million customers.
Public Bank has been a darling stock among many Malaysian investors for years. As founder Teh Hong Piow entered the meeting hall, he was given a standing ovation by shareholders. The entire annual general meeting was never short of compliments and applause from floor. Shareholders were even invited to give Teh another round of standing ovation in the midst of the meeting. Why the adulation?
Here are 10 things I learned from the 2019 Public Bank AGM.
1. Revenue increased 5.7% year-on-year to RM22.0 billion in 2018, while net profit increase 2.2% year-on-year to RM5.6 billion in 2018. The management attributed this improvement to steady growth and a stable performance. Dividend per share increased from 61 sen in 2017 to 69 sen in 2018, which
...