13 How We Are Governed Financial Statements Shareholders’ Information Additional Information Online Platforms: We offer clients and investors access to a range of digital platforms from online trading portals to portfolio management tools, as well as, mobile applications to make trading and investing easier. www.kenanga.com.my/online-platforms “This magnitude of synergy is possible only through the exceptional level of teamwork, communication and unity of purpose, that continue to characterise the true Kenanga spirit.” The Malaysian economy also faced these same external pressures, with Gross Domestic Product (“GDP”) contracting by 4.5% in the 3Q 2021 after expanding 16.1% in 2Q 2021 due to the implementation of strict lockdown measures in July as part of the National Recovery Plan. Overall, however, the Malaysian economy rebounded by 3.1% over the course of the year, following the sharp contraction in 2020. In its ongoing effort to support economic recovery, Bank Negara Malaysia maintained the Statutory Reserve Ratio at 2.0%, as well as the Overnight Policy Rate (“OPR”) of 1.75% - levels it instituted at the beginning of the pandemic. Notwithstanding these volatile conditions, Kenanga Investment Bank delivered a new all-time high performance since being an investment bank. Profit Before Tax (“PBT”) surged to RM148.2 million, while Profit After Tax (“PAT”) increased to RM118.8 million, exceeding all expectations. This historic result—coming on the back of a record high PBT of RM134.7 million and PAT of RM102.3 million in 2020—was fuelled by outstanding performance in equity broking, asset and wealth management, as well as, gains from recognising some of our private equity investments. For the year ended 31 December 2021, Earnings Per Share stood at 16.3 sen, up 12% while, annualised Return on Equity stood at 11.6%, up 7.7%. While the global market turmoil of 2020 gave us first-hand evidence of the benefits of digitalisation, 2021 showed us how a business model built on diversity of revenue streams could not merely survive but thrive in a situation of prolonged volatility and uncertainty. In this respect, I am honoured to report that the Group was recognised by The Edge Billion Ringgit Club for its excellent performance and was awarded the coveted accolade of ‘Highest Returns to Shareholders Over Three Years’. I take this opportunity to commend every member of Kenanga Group whose grit and determination to succeed have contributed directly to the outstanding financial results, that once again make us proud to be a part of this family.
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