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Kuala Lumpur-based MBF Cards Sdn Bhd expects to see a 10% growth in profits from 76 million ringgits (US$21.6 million or 17 million euros) last year, according to the Business Times newspaper. The company issues MasterCard and Visa-branded credit and charge cards. The company's pre-tax profit of 39.8 million ringgits in the first six months of 2008 accounts for more than half of last year's profits, the newspaper reports. To increase profits, the company says it will continue to launch a series of card promotions to improve card use and attract new numbers. "We are encouraging existing members to use their cards," a spokesperson told the newspaper. "What is important in the credit card industry is to have active card members." The company did not respond to requests for comment by CardLine Global. As of the end of 2007, MBF Cards had issued more than 500,000 credit cards in Malaysia, and cooperates with 32,000 merchants.
