MNRB has also been growing their family takaful and general takaful aggressively over their past few years. The general Takaful biz is under the brand of Takaful Ikhlas and it has been growing leap and bound. For the family takaful, they has successful tied up with CIMB, it means for every Islamic loan you successful applied, they are the preferred supplier of your MRTA and Fire insurance for your property. Those are sticky products with a good margin and predictable income. For comparison, you may look at how Syarikat Takaful Malaysia performed after their tie up with RHB over the years.

Just want to add something on article shared above, I noticed the article was written in 2018. MNRB since then has been consistently making profit with the latest 4 quarters making 22 sen per share in total. Dividend of 3 sen has been paid in the last financial year ( although it was lower than expected, but considering it was a Pandemic year and they have to get approval from BNM for dividend payout , it is acceptable of them being prudence compare to other financial entities scrapping dividend all together ) As for their investment book , most of them investment are in Malaysia government bonds and very safe guaranteed bonds, so I do not see any concern on issue of asset quality arise. It also means net book value of RM 3.28 is as real as you can get.

FY2017 MYR 84.242mio

Shahril FY2018 remuneration MYR 71.92mio ; FY2019 MYR 12.83mio ; FY2020 RM 9.957mio. They are all being disclosed in Annual Reports

To put this quarter result in perspective, the total profit since listing in 2006 up to 2020 Q3 is RM 71.6mio. And this quarter losses is RM 174.5mio. What a spectacular value destruction with a snap of Thano fingers.

The loss is -14.25 sen per share. The NTA now drops from 37.66 sen per share a year ago to, laughably, only 10.59 sen now.