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

New Straits Times - - Business -

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.

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