F&N Q3 profit dips 25.8pc to RM69.4m Tune Protect names Khor chief actuary

Fraser & Neave Holdings Bhd’s (F&N) net profit for the third quarter ended June 30 dropped 25.8 per cent to RM69.4 million from RM93.6 million in the same period a year ago due to weak consumer sentiment and higher input costs. Revenue eased 6.1 per cent to RM1.04 billion from RM1.11 billion a year ago, said the company in a filing to Bursa Malaysia yesterday. For the first nine months, F&N’s net profit was lower by 9.5 per cent to RM303.7 million, from RM335.8 million previously.

Tune Protect Group Bhd has appointed Khor Kee Eng as its chief actuary and Khoo Ai Lin as chief executive officer of the company’s 83.3 per centowned Tune Insurance Malaysia Bhd. Khor, who is a fellow of the Institute of Actuaries, joined the company as the chief actuary on August 1 to lead the company’s actuarial function. Khoo was also appointed as the CEO of Tune Insurance Malaysia on August 2.