Posted by maxsky > 2 months ago | Report Abuse

I agree QR is a good, price is low and good opportunity to buy. I just wonder if there is any underlying problems somewhere that is about to surface. GE15 is coming and this counter should perform too but it seems that it is going south now. It seems that this price is really undervalued now.

Posted by CakapSohaiThings > 2 months ago | Report Abuse

@maxsky FRS17. Read my previous comments...

2021-11-15 17:49
33% Cukai Makmur one off, no problem.

FRS17 reduces the book value by 28.5%. To me, that's a serious issue. It instantly raises P/B ratio, which is the primary valuation for insurance companies. Also, PAT and dividend will be reduced by 16%. This is also an issue.

Change in CEO might also be an issue (although there's a possibility that the next CEO will do an even greater job).

Posted by CakapSohaiThings > 2 months ago | Report Abuse

I had seen how CIMB (the market cap more than 10x of Takaful) was pressed to RM3, hence I know that pressing down Takaful is a piece of cake. Already mentioned dont fight the trend... This is a trend bolstered with the FRS17 impact in 2023, not a downward trend with no fundamental reason...

2021-10-13 13:09
LOL, give it up, even if it rebounds, will be extremely difficult to break above the extremely strong RM4.2 support-turned resistance. Just let it go down and buyback at the next support

2021-11-14 14:57
Beware of the possible dead cat rebound next week, there were a lot FB lives last Friday. They could be trapped at penthouse, waiting to dispose.

If you really want to buy, you can try your luck at 3.2, not when it is floating in the middle of resistance and support. Again, if they really want to press it down, press to the next support of RM2.1 is NOT IMPOSSIBLE. So please dont flame me if you try at RM3.2, but it falls to RM2.1 later.

Posted by newtrader1989 > 2 months ago | Report Abuse

Waiting at 1.50

Posted by shareprofit > 2 months ago | Report Abuse

insurance is a growth company, revenue and income will only grow year to year..and their risk is always mitigated by bigger reinsurance company upstreams

Posted by MaluNegaraKu > 2 months ago | Report Abuse

Taka-fool

Posted by newtrader1989 > 2 months ago | Report Abuse

Very overrated and overvalued

Posted by shareprofit > 2 months ago | Report Abuse

see end of today selling number at 3.40....shit bricks

Posted by DickyMe3 > 2 months ago | Report Abuse

"Posted by maxsky > 2 days ago | Report Abuse

I agree QR is a good, price is low and good opportunity to buy. I just wonder if there is any underlying problems somewhere that is about to surface. GE15 is coming and this counter should perform too but it seems that it is going south now. It seems that this price is really undervalued now."
=======================

This is another brainchild of the Alibaba and the forty or more thieves.
Another Guaranteed Losing Company (GLC).
These are piggy banks of the politicians.
Everything masked under a business entity.

Posted by treasure_seeker > 2 months ago | Report Abuse

Fear of this FRS17 implementation is over reacted by the market.. if PAT is only reduced by 16%, then for the EPS of 2021, which is about 49.4 sen, will be 41.5 sen after taking into account of this 16% reduction.. & PE at the current price will then only be 8.2.. so much undervalue for an insurance company with good profit growth..

but anyway, I like the over reaction.. this will make the stock a lot cheaper

Posted by newtrader1989 > 2 months ago | Report Abuse

Sell pressure until become 1.50

Posted by fortunefire > 2 months ago | Report Abuse

moving up slowly. nice

Posted by jonathan_k > 2 months ago | Report Abuse

moving up soon?

Posted by newtrader1989 > 1 month ago | Report Abuse

Cannot go too far

Posted by jonathan_k > 1 month ago | Report Abuse

Why so sad.

Posted by jonathan_k > 1 month ago | Report Abuse

You want it go where?

Posted by apple168 > 1 month ago | Report Abuse

So many helping EPF to cash out… haha…

Posted by newtrader1989 > 1 month ago | Report Abuse

Hahah so many being trapped by epf

Posted by jonathan_k > 1 month ago | Report Abuse

Okay la. Drop drop

Posted by apple168 > 1 month ago | Report Abuse

不要傻傻为KWSP/EPF卖票套现而买单！

Posted by apple168 > 1 month ago | Report Abuse

没有最低，只有更低！

Posted by pang72 > 1 month ago | Report Abuse

Apple168,
HV you short finished?

Posted by pang72 > 1 month ago | Report Abuse

Not so low..
Can drop more or not

Posted by meistsk3134 > 1 month ago | Report Abuse

takaful? 70% malay buying this insurance

Posted by Darren Law > 1 month ago | Report Abuse

Takaful is good stock,strong ROE

Posted by SHOB > 1 month ago | Report Abuse

waiting for the chance to collect tickets

Posted by DickyMe3 > 1 month ago | Report Abuse

"meistsk3134

takaful? 70% malay buying this insurance

1 day ago"

That must be a joke! Everything they want free, you think they will pay for insurance? They expect their employer to pay for it.

Posted by observatory > 1 month ago | Report Abuse

A few points mentioned in recent Affin and AM Bank reports on MFRS 17 implementation
1. Adoption in 1 Jan 2023. Management to give high level disclosure in middle of this year
2. Expected 2023 net profit to dip 15% to 20%
3. Management guided it will take 6 years for profit to normalize to pre-MFRS 17 (I don't understand this point. If profit drops by 20% and it takes 6 years to recover, does it mean profit only grow at 3% p.a.? It seems too pessimistic. Maybe I've misunderstood.)
4. Present value of future profits, known as CSM (Contractual Service Margin), will be carved out from retained earnings on Day-1 adoption. CSM is expected to be 30%-40% (Affin report)/ 30%-45% (AM report) of retained earnings
5. According to Am Bank forecast, book value per share will grow to RM2.5 in FY22, but drop to RM1.7 in FY23.
6. My own take is since book value is expected to drop more than net profit, ROE should be higher, and therefore a higher price to book ratio should be applied. But I'm not sure about the relative magnitudes.
7. The analysts also highlight that change to MFRS17 is an accounting re-representation. There is no underlying business change.
8. Management believes they can sustain the dividend payment of 12 sen per year despite lower profit.

Posted by Bao2lai > 1 month ago | Report Abuse

MFRS (15+2.0) really made existing shareholders dizzy. I really hope there is an accountant here. Anyone who understands accounting, please help, and don't hesitate to share here. Management revealed that implementing the new accounting next year will affect 15% to 20% of the company's earnings. This means that without accounting for this MFRS (15+2.0), 15%~20% of the company's earnings would not "disappear" or "earn less".
A more controversial question is why the management said that it would take 6 years to "get back" the 15-20% of the "less earned"? My understanding is that this may be the management's assumption that it will take about 6 years. Each policy is different, and the duration of the premium is also different, it may be 5 years, 10 years, 15 years. How can the new accountant have only 6 years since it already needs to be separated and accounted for?
.Assuming that it really only takes 6 years for this new accounting to be recorded, I believe that everyone has seen a potential growth space, that is, the company's profit will grow by 3.33% every year. In other words, the 20% lost in 2023 and then every future year 2024, 2025 will naturally increase by 3.33% until 6 years. .

Posted by newtrader1989 > 4 weeks ago | Report Abuse

Run before too late. This company soon bancrupt

Posted by davidkkw79 > 4 weeks ago | Report Abuse

What ?! Expected 2023 net profit to dip 15% to 20% ??

Posted by Bao2lai > 4 weeks ago | Report Abuse

Assumption :

a) FY2023, Takaful's profit is 100mil

b) This 100mil cannot be directly recorded and the management expects that this 100mil must be deducted by 20% of the profit, that is 100mil x 20% = 20mil must be separated & recorded in an average of 6 years. That is to add back 3.333mil per year until FY2029.

c) (This is the most critical assumption that is related to the final conclusion) ~ TAKAFUL will make the same amount of revenue every year in the future, without growing it and consistently earn 100mil every year. If there is a little more demand or sales, then the management will not want it. Yes, everyone please don't ask why, they just don't want the company to grow, and the premiums are guaranteed not to be expensive, even in the age of high inflation.

d) FY2023, the original profit of 100mil is 100mil - 20% = 80mil after the implementation of MFRS(15+2.0)
FY2023=80mil
FY2024=83.333mil
FY2025=86.666mil
FY2026=90mil
FY2027=93.333mil
FY2028=96.666mil
FY2029=100mil

Conclusion:
Even the most incompetent management will say "Look, implement this new accounting standard of what (15+2.0) or (19-2.0), the 20% we lose in the first year is inevitable, But please look at the next years, we are also capable of making the company from FY2023 to FY2029 to increase the annual profit growth of 4.166%, 4.0%, 3.846%, 3.7%, 3.57%, 3.44%, so we require Increase the management salary, we hope the general meeting of shareholders can pass.

Posted by jokurprg > 3 weeks ago | Report Abuse

Takaful still strong, hard to bankrupt

Posted by jokurprg > 3 weeks ago | Report Abuse

lmao, back by too many big shark..

Posted by yong1985cm > 2 weeks ago | Report Abuse

any1 here realised that the market share of Family Takaful biz ady dropped to 20%?

Posted by DickyMe > 1 week ago | Report Abuse

RM 2.67 coming soon!

Posted by davidkkw79 > 1 week ago | Report Abuse

@yong1985cm is it true that Family Takaful biz dropped 20% ? Where u got this info ??

Posted by yong1985cm > 1 week ago | Report Abuse

not biz drop 20%. i saying market share that takaful owned.

Posted by davidkkw79 > 1 week ago | Report Abuse

You are right ! Its business start to reflect it its market share dropped significantly !!
https://www.bursamalaysia.com/market_information/announcements/company...

Posted by newtrader1989 > 1 week ago | Report Abuse

Omg so much profit run for your life haha

Posted by yong1985cm > 1 week ago | Report Abuse

syarikat takaful malaysia (STM) used to be the market leader in family takaful market in malaysia since many years ago as mentioned in the yearly AR. but now it position is lost and become 2nd largest.

Posted by treasure_seeker > 1 week ago | Report Abuse

those who wants to run, please run fast.. let me collect the treasures cheap..

Posted by DickyMe > 1 week ago | Report Abuse

RM 2.67 coming soon!

Posted by newtrader1989 > 1 week ago | Report Abuse

Very overvalued and over rated counter. Fair value only 1.50

Posted by newtrader1989 > 1 week ago | Report Abuse

Since the new ceo join, price only drop. Dunno what joker they hired

Posted by abcd11111 > 1 week ago | Report Abuse

Buy high sell low newtrader1989 is false prophet

Posted by DickyMe > 6 days ago | Report Abuse

RM 2.67 coming soon!

Posted by DickyMe > 16 hours ago | Report Abuse

Dividend tahi ayam, itu pun setahun sekali!