RM463m net sur­plus for PIDM

The Sun (Malaysia) - - SUNBIZ -

PETALING JAYA: Per­badanan In­surans De­posit Malaysia (PIDM) has re­ported a to­tal in­come of RM575.4 mil­lion last year with an op­er­a­tional net sur­plus of RM463 mil­lion, in­creas­ing its to­tal funds and re­serves to RM3.6 bil­lion.

PIDM is a statu­tory body that pro­vides pro­tec­tion against the loss of de­posits and in­sur­ance or taka­ful ben­e­fits with its mem­ber in­sti­tu­tions in the event of a fail­ure.

PIDM said it will be car­ry­ing out res­o­lu­tion plan­ning pilot ex­er­cises for se­lected pilot banks.

“This fol­lows from the first phase of re­cov­ery and res­o­lu­tion plans, which in­volves the re­cov­ery plan­ning pilot ex­er­cise by Bank Ne­gara Malaysia for se­lected pilot banks that was launched in July 2017,” it said in a state­ment yes­ter­day.

PIDM said it will en­gage with mem­ber in­sti­tu­tions and fi­nan­cial safety net play­ers through­out the res­o­lu­tion plan­ning process, not­ing it has en­hanced its stake­holder en­gage­ment strat­egy for more ef­fec­tive col­lab­o­ra­tion among its key stake­hold­ers.

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