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Overview
Financial Highlight
HeadlinesBusiness Background Syarikat Takaful Malaysia Bhd is a takaful insurance provider in Malaysia and Indonesia. Like insurance, takaful protects participants from loss, but unlike traditional insurance, it adheres to a business model that conforms to Islamic religious law. The company’s business includes participants who pool their money into a Participant Risk Fund, which then has funds available to disburse when a participant is facing a loss. For managing the takaful fund, the company receives a service fee on participant contributions. Syarikat Takaful Malaysia primarily manages family and general takaful businesses, which include medical, motor, and home takaful. The vast majority of the company’s revenue comes from customers in Malaysia.
  UnicornP Can Takaful maintain the 36% increase in revenue to the 4th quarter? Hmmm... 30/11/2018 21:34  yiniugongxiong TAKAFUL 6139 QUARTERLY REPORT 30 SEPT 2018 https://yiniugongxiong.blogspot.com/2018/10/takaful-6139-quarterly-report-30-sept.html 07/12/2018 19:07  Oliver Ooi last friday,looks like some1 purpose selling huge amount of shares and caused the price drop tremendously like around 9 sen at 4pm something. A fishy action by big shark out there 22/12/2018 17:10 signalmw 纽约22日综合电）美国股市21日再度重挫，本周道琼工业指数跌幅将近7%，是2008年以来表现最糟糕的一周，且在投资人担忧美中贸易战及美国政府可能关门下，科技股为主的那斯达克指数进入熊市。 22/12/2018 18:25 yiniugongxiong TAKAFUL 6139 INFORMATION OVERVIEW 1 http://yiniugongxiong.blogspot.com/2019/01/takaful-6139-information-overview-1.html 18/01/2019 18:37 faruqie https://cdn1.i3investor.com/my/files/st88k/6139_TAKAFUL/qr/2018-12-31/6139_TAKAFUL_QR_2018-12-31_STMKB%20Notes%20Q4%202018_484380213.pdf 24/01/2019 17:54 yiniugongxiong TAKAFUL 6139 QUARTERLY REPORT 31 DEC 2018 https://yiniugongxiong.blogspot.com/2019/01/takaful-6139-quarterly-report-31-dec.html 24/01/2019 19:22 sleang i think the stock deserves a re-rating once the major holders reduced their holdings... 10/02/2019 15:11 moven00 Amacam Orang di Takaful...dah sedia nak Terus terbang??! Teruskan, teruskan. Member di Bimb Dan BIMB-Wa support from behind... 11/02/2019 19:58 demusangking So, still tight tight hold lo.. like genting ahmoi!!! So many 60yo amois.. only 10 bucks pershot... hahahahaha 13/02/2019 10:46 PureBULL . All growth stocks r highly cyclical. All these r : QL, HARTA, TOPGLOV, DIALOG, PCHEM, PBBANK, HLBANK, NESTLE, F&N, CARLSBG, PANAMY, AJI, PADINI n etc ... They all have their own respective biz yrs to grow. This yr 2019 is TAKAFUL's turn to grow to the new.blue.sky. RISK: 1 fun manager is still selling at every stage upwards. When it finishes the selling act, TAKAFUL shall claim its glorious days once again ... That's consult ELLIOT Wave for TP guidance: 1st major = 408 x 2 - 250 = 566 3rd major = to n always > 1st major 3rd major = 408 x 2 - 120 = 696 Then there is over shoot with Fibonacci % a. 408 + 288 x 1.382 = 806 b. x 1.5 c. x 1.618 u choose what u want, a, b or c, OK 13/02/2019 10:42 13/02/2019 12:24  Icon8888 Fair value RM6.5 ? Latest Q earning RM90 mil Annualised RM360 mil PER of 15 times Targeted market cap RM5.4 bil Number of shares 830 mil Fair value = 5400 / 830 = RM6.5 ? 14/02/2019 04:30 qqq3 I prefer your choices to those of Otb and Kc who are more into unpredictable companies subject to manipulation. 14/02/2019 04:42 Icon8888 Don't give me too much credit In bull market everybody looked like genius mah 14/02/2019 04:44 qqq3 and of course stock broker hot stock now is MBM and Serba.....no one can be accused of PnD in these stocks...... 14/02/2019 04:53 qqq3 I think a lot of PnD people attracted to OG stocks..... that would be followers....not leaders..... 14/02/2019 04:58 Marco Go Syarikat Takaful Malaysia Berhad是一家回教保险公司，也是马来西亚第二大回教保险运营商。Takaful这支股市黑马从2012年上半年爆发后就一直持续上升至2015下半年才开始歇息。虽然股价自2015年至今都持续持平，可是公司的业绩却从未因此停止，仍然保持着双位数的增长，令人不得不刮目相看。Takaful的强劲走势，和大马本地回教保险市场和亮丽展望固然有关系。MIDF研究也指出两大利好可协助该领域持续增长。两大利好分别是，一，大马伊斯兰金融产品与服务不断增长, 二，国内穆斯林市场仍有不少开发潜力。以目前价格3.76来计算，小篇依然认为Takaful仍然遭市场低估，其增长潜能无可限量。 Takaful自2010年至2017的净利表现。从下表可以发现Takaful从2010年57M的净利已经达到如今的206M，成长幅度高达261%！ 2010 2011 2012 2013 2014 2015 2016 2017 Net Profit(M) 57 78 101 138 140 155 176 206 除此之外，Takaful每个季度的表现也同样一直维持着双位数的增长。从下表你能发现Takaful已经持续三年维持季度的盈利上升，并且盈利与净利都在2018 Q1突破历史新高，而股价却仍然相当疲弱。 Revenue 2015 2016 2017 2018 Q1 562M +12.6% 633M +4% 659M +13.2% 746M Q2 433M +6.6% 462M +6.6% 485M +11.7% 542M Q3 389M +9.5% 426M +11.7% 476M Q4 403M +21.5% 490M +5.5% 517M Net Profit 2015 2016 2017 2018 Q1 46M 0% 46M +21.7% 56M +25% 70M Q2 38M +18% 45M +0% 45M +11% 50M Q3 34M +29.4% 44M +9% 48M Q4 36M +8.3% 39M +43% 56M 尤其是2018年Q2 由于马来西亚股市下跌造成Takaful拥有足足58Million的Fair value losses（参照下表）。试想想如果Takaful在Q2如果没有fair value losses，其净利即将达到108Million的历史新高！下一季让我们拭目以待！ 独立的竞争优势及未来成长引擎 虽然Takaful近几年盈利与净利都持续增加，但截至2018年三月大马人寿和伊斯兰保险认购率仅为56.2%，仍低于2020年的75%目标，代表着大马仍然拥有着许多潜在客群并将提振核心净幅，此外Takaful推出的数码平台”Click for Cover“将强化数码市场表现，有助于窃取更多潜在客服群。再加上与朝圣基金及回教银行的相辅相成，有助于Takaful的进一步扩张。此外随着穆斯林人口的持续增加，与穆斯林对保险的重视程度愈加提升，只要管理妥当，Takaful必定能维持双位数的增长。 除此，Takaful的Roe在过去五年都持续维持在20%以上，达到许多投资专家建议的15%以上，并且EPS也随着净利年年增加。在公司维持增长的当儿，以Rm3.7计算，股息现在却达到4%之高，足足高过我们放在银行里的定期存款。 健康及稳健的资产负债报表 自2013年起，由于盈利的持续增长，Takaful的shareholder fund（所有者权益）与retained earnings(盈余公积)都在持续不断的增加。截至2017年，我们可以发现到Takaful的盈余公积足足达到609M，而2018年Q2更增加至749M足以应付公司经营风险或提高现有的派息政策. 为什么股价自2015年起就一直持平？ Takaful截至2017年的总股数为823，145，670。从Takaful的财务报表我们可以发现BIMB一直是Takaful的控制性大股东，截至2017年底持有59.72%的股份，而EPF则持有10.86%。若扣除30大股东，真正在市场上流通的股票只有仅仅的8.4%，即69，144，236. 这样的情况造成Takaful的成交量非常之少，且投资机构，大型基金，庄家与散户都对他提不起兴致，常常都被少量的股数压低价钱。但是我们不要忘了价格与盈利始终会回到一条线上，只要公司持续增长，股价最终也会随着水涨船高。别忘了2012年Takaful的股价之所以爆发就是因为公司长久被市场忽略，而直到被发现时，股价却已一飞冲天。然而如今自2015年起，Takaful的股价就一直持平至今，显然有重蹈覆辙之势。只要假以时日，必定又是另一波好球。 结语 Takaful强大的基本面让人不得不对他跨目相看，可是单一大股东造成的低流通量却是Takaful不能忽视的缺点。此外，大环境的种种影响也对短期的走势起了落井下石的作用。投资股票除了要选好的公司，还要买得便宜，而买得便宜还要等到对的时机。以目前50-150的移动平均线来分析，短期内股价显然没什么看头，不过中长期的话Takaful还是一个值得长期投资的公司。当然这不是买卖建议，因为股票之所以有买卖，只因为各持不同的观点。最后祝各位投资愉快。 16/02/2019 23:56  |
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