9M FY2023 Financial Performance
Higher Cost on Personnel, IT and Revenue-Related Expenses
CIR and Costs
Key Drivers
RM billion
46.8%
45.1%
48.8%
47.9%
44.9%
(3.6)%
2.7%
10.6% YoY
3Q'23 vs 2Q'23
3Q'23 vs 3Q'22*
9.77
3.42
8.83
3.21
3.30
2.10
0.73
0.65
0.73
1.87
0.39
0.14
0.20
0.14
0.39
1.61
0.55
1.46
0.52
0.55
1.83
2.00
1.88
5.11
5.67
3Q FY2022 *
2Q FY2023
3Q FY2023
Personnel Costs
Marketing Expenses
9M FY2023
9M FY2022*
Establishment Costs
Administration & General Expenses
3Q FY2023
3Q FY2023
9M FY2023
% change
(QoQ)
(YoY)
(YoY)
Personnel
(6.2)%
2.8%
10.9%
Establishment
(1.3)%
4.7%
10.0%
Marketing
4.4%
(31.2)%
(0.8)%
Administration
0.3%
11.6%
12.6%
& General
.
.
•
9M FY2023 cost increase of 10.6% YoY mainly driven by:
。 +10.9% increase in personnel costs, which includes provisions for
collective agreements (CAS)
。 +10.0% increase in establishment costs mainly from higher ROU
asset depreciation and higher IT cost including software
maintenance
。 +12.6% increase in administration and general expenses from
credit card related fees on higher billings and merchant volume as
well as other general expenses
。 Offset by a reduction of (-0.8)% in marketing expenses
M25+ related spend is RM162.6 million as at 9M FY2023, of which 34%
is capex spend
QoQ, cost declined by 3.6% driven by lower personnel (-6.2%) and
establishment costs (-1.3%), offsetting the slight increase in
marketing (+4.4%) and administration and general costs (+0.3%)
*Restated 3Q FY2022 and 9M FY2022 comparative information as MFRS 17 has replaced MFRS 4 Insurance Contracts for annual periods on or after 1 January 2023
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