Bursa Malaysia Stock Watch
MNRB...Where FBM KLCI Is Back To 900
kltrader
Publish date: Sun, 07 Mar 2010, 07:54 PM
kltrader
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MNRB was left out altogether in the past year rally. Its share price was going nowhere and had severely underperformed the benchmark.
My pick was premised on:-
"
From earnings perspective, the Company has been able to mantain its profitability over the last 5 years with decent dividends payout.
While its topline registered growth, its bottomline was impaired by claims provision and aditional reserve provided under the mandatory adoption of Risk Based Capital Framework (PRAD).
Source: Equitiestracker.com
My pick was premised on:-
1 MNRB, being a key player in the reinsurance and takaful as well as re-takaful market, is likely to remain profitable due to its fair share of business (20% of business) from local general insurance companies.
2. Technically, the stock has languished around the current level for sometime with solid base-building action.
3. Seasonally, the 4Q ending March of each financial year delivers good earnings and may well be the catalyst for uptick when FBM KLCI continues to trend higher from here. Besides, sweetener in dividend can also be expected.
In view of its underperformance and that I'm able to "Turn Back the Clock" by "buying at FBM KLCI=900", I've made following purchases under my portfolios.
Reflexivity: Bought 4,000 shares
Golden Nest: Bought 6,000 shares
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