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Business

Maybank ATR Kim Eng clears P324 million in 2011

- Ted P. Torres -

MANILA, Philippines - Publicly-listed financial services group Maybank ATR Kim Eng Financial Corp. (Maybank ATR KE Financial) posted a consolidated net income of P323.9 million in 2011, up six percent from P305.1 million a year ago.

Total consolidated revenues amounted to P2.9 billion, up eight percent from 2010. Consolidated assets reached P6.9 billion in 2011, a 19-percent increase from the P5.8 billion level in 2010.

Maybank ATR KE Financial president Manuel N. Tordesillas said that 2011 saw significant changes that “made the company stronger in capability and reach.”

“With the entry of Maybank, we have continued to see improved performance across the capital markets, insurance and real estate businesses,” Tordesillas added.

Subsidiary Maybank ATR Kim Eng Capital’s advisory and underwriting fees increased 28 percent to P88 million last year. It was named Best Equity House in the Philippines by The Asset Magazine in its Triple A Asian Awards 2011.

Maybank ATR Kim Eng Securities on the other hand, increased its commissions by eight percent to P587 million in 2011, contributing to the P598 million consolidated commissions for the year. It ranked number one among trading participants at the Philippine Stock Exchange (PSE) last year with a value turnover of P265 billion and a market share of 9.32 percent. The firm was also named Best Broker by FinanceAsia in its 2011 Country Awards for Achievement.

AsianLife & General Assurance Corp. (ALGA) and AsianLife Financial Assurance Corp. (ALFA), the company’s insurance subsidiaries, accounted for consolidated insurance premiums of P1.5 billion in 2011, a 10-percent increase from the previous year.

ATR KimEng Asset Management Inc. is overseeing assets worth P1.6 billion, or a six percent increase from the previous year’s level.

Gross real estate revenues from the sale of ATRKE Land-owned units at the TRIbeca Private Residences project in Sucat rose five percent to P105 billion in 2011 as Towers 3 and 4 of the project were completed.

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ASSET MAGAZINE

ASSET MANAGEMENT INC

BEST BROKER

BEST EQUITY HOUSE

BILLION

COUNTRY AWARDS

FINANCIAL ASSURANCE CORP

GENERAL ASSURANCE CORP

KIM ENG CAPITAL

MAYBANK

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