Posted by apple168 > 2021-11-20 07:48 | Report Abuse

EPF is near 99% right on her investment strategy! Guys, please watch out! EPF has been dumping Takaful like no tomorrow!

Posted by RainT > 2021-11-22 00:11 | Report Abuse

Read

Posted by Investeye > 2021-11-23 15:14 | Report Abuse

Will this benefit Takaful..
https://www.utusan.com.my/terkini/2021/11/kwsp-lancarkan-i-sayang-i-lindung/

Posted by davidkkw79 > 2021-11-23 18:01 | Report Abuse

Holland !
https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3211610

Posted by danielong1982 > 2021-11-23 18:35 | Report Abuse

i think still not too bad as MCO for months. my own insurance business also not moving as not going out as well.

Posted by newtrader1989 > 2021-11-23 19:13 | Report Abuse

Within expectations

Posted by okdoke > 2021-11-23 20:12 | Report Abuse

@danielong1982.....how was your insurance business for Oct till today.? Marked improvement? What do think of Stmb business for Oct till today? Thanks in advance

Posted by danielong1982 > 2021-11-23 20:39 | Report Abuse

business a bit slow during MCO, as i did not really go out and interact with customer. I'm with AIA so i can actually submit everything online with customer remote sign. However some customers still don't like the idea of remote sign. I believe insurance market will make a come back to pre-pandemic level.

Posted by apple168 > 2021-11-24 07:47 | Report Abuse

Very bad quarter result! EPF predicted correctly! No wonder EPF dumping massively!

Posted by observatory > 2021-11-24 15:40 | Report Abuse

Among the analyst reports I manage to get hold, only Affin and RHB mention MFRS17. They are also more conservative with their TPs.

Affin expects a contractual service margin impact of 30% (what does it mean to book value, profit etc?)

RHB expects 15% to 20% drop in FY23 earnings, and 25% to 30% drop in shareholder equity. As pointed out by @wsb_investor, many analysts use PB or even PE valuation. All else being equal, a 30% drop in equity should mean a 30% reduction in intrinsic value. Say previously the value is RM5, the new value should be RM3.5.

However as earning decline is more gradual, ROE = earning/ shareholder equity will increase by around 13% if apply RHB figures. So all else being equal, a higher PB value is warranted?

The biggest problem is they never explain how they derive their estimate. This is like a guessing game.

Posted by wsb_investor > 2021-11-24 16:44 | Report Abuse

No one will know the real impact unless you are the insiders in STMB. Not to mention the impact is up to management decision, they can set diff size of CSM where they deem fit (higher CSM = higher reduction in equity, in exchange for higher future profit). IFRS17 ultimately is just presentation, and will make insurance industry more comparable with other industry. STMB fundamental will not change, and will continue rely on MRTA. It is definitely way overpriced now due to recognition of large day1 profit, and its business will unavoidably fluctuate with MRTA sales, and indirectly home sales among bumis. With no more MOT next year, new home sales got limited prospect, and so is STMB profit.

Posted by wsb_investor > 2021-11-24 16:52 | Report Abuse

For Allianz and Maybank, even if close for new business immediately, no new policies sold, or no new loan/deposit, the existing business can still continue to generate reasonable profit (insurance margin/net interest margin) for up to 10+ years. This is not the case for STMB, where it has a very low recurring profit. Any analysts that try to compare STMB directly with Allianz or Banks are just too naïve.

Posted by CakapSohaiThings > 2021-11-24 17:01 | Report Abuse

Future tense: Reduction in book value by ~29%, reduction of PAT and dividend by ~16%, change in CEO

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).
15/11/2021 5:49 PM

Might be safer to enter after the implementation for the market to fully absorb the impact OR enter at a low price. IMO, current price is not low

Posted by stevenckheng > 2021-11-24 17:15 | Report Abuse

what is the difference between Takaful and MNRB ?

Posted by wsb_investor > 2021-11-24 17:26 | Report Abuse

Takaful owns life and general business (90% profit from life), MNRB owns reinsurance (mainly general) + Takaful Ikhlas (50/50 life/general).

Posted by Bao2lai > 2021-11-24 23:15 | Report Abuse

In any case, changes in accounting standards will not change the business nature and cash flow of a single contribution product. What I care more about is whether demand and profitability can continue to grow. If not, even if the accounting standards remain unchanged, it cannot be a reason for potential investors to buy stocks

Posted by wsb_investor > 2021-11-25 09:27 | Report Abuse

You still don't understand the issue. Takaful currently enjoying a unfairly high valuation due to current flawed accounting standard, which allows it to recognize big profit upfront. In Q1 2023, when analysts or normal investors look at the first IFRS17 financial statement, the valuation will be downgraded immediately.

Posted by davidkkw79 > 2021-11-25 09:34 | Report Abuse

yupe agree. According to current accounting way has exaggerated the profit of takaful, that's why malaysia insurance companies has been asked by international accounting standard organization to ammend it as soon as possible.

Posted by Bao2lai > 2021-11-25 11:41 | Report Abuse

potential impact of MFRS17 on the group’s earnings as it would have to amortise single premium policies over a longer period and lead to lower earnings which management had guided the impact to be roughly 15%.

From a share price valuation angle, the market should
accord the stock a higher P/B multiple from a higher ROE as there will be a day 1 downward adjustment to retained profit for accounting modification on legacy single premium policies.

As such, post MFRS17 ROE is anticipated to rise by 2-3ppts which will partially offset the earnings impact. There is also minimal risk to a cash call as its CAR ratio should remain well above 130% despite the one-off day 1 impact to retained earnings.

Posted by newtrader1989 > 2021-11-25 12:02 | Report Abuse

Fresh 52 week low on the way

Posted by fortunefire > 2021-11-25 17:20 | Report Abuse

broken 3.6 and on the way to 3.3 in a month time.

Posted by danielong1982 > 2021-11-25 20:00 | Report Abuse

time to top up. :)

Posted by stevenckheng > 2021-11-25 23:24 | Report Abuse

so in the market we see many insurer and bank offering takaful insurance, those are reinsurance from 'SYARIKAT TAKAFUL MALAYSIA BHD'?

Posted by Zackmeiser > 2021-11-26 15:38 | Report Abuse

Well if u plan to keep the counter for 10years and in 10years time more people will use insurance. Probably not a bad investment at this price. Not fancy growth like semiconductors but a safe one.

Posted by DickyMe > 2021-11-28 00:32 |

Post removed.Why?

Posted by fortunefire > 2021-11-29 10:43 | Report Abuse

it's so happening now. TP 3.50 isn't a dream.

Posted by CakapSohaiThings > 2021-11-29 11:24 | Report Abuse

Next support 3.2

Posted by pirate99 > 2021-11-29 12:05 | Report Abuse

Ok wait 3.00

Posted by Kadir > 2021-12-01 11:33 | Report Abuse

Charge fwd to 4

Posted by newtrader1989 > 2021-12-07 09:34 | Report Abuse

Tp 5.0

Posted by scn12345678 > 2021-12-07 16:17 | Report Abuse

Kwsp buy back takaful day by day, 4 not a dream

Posted by DickyMe > 2021-12-15 13:42 | Report Abuse

UMNO BN PN gomen pun tak boleh kawal bursa jatuh?

Posted by shareprofit > 2021-12-15 14:20 | Report Abuse

good surprise divident

Posted by DickyMe > 2021-12-15 14:24 | Report Abuse

Dividend payout is to cover up.

After Dividend payment expect it to dip below RM 3.

Posted by Kadir > 2021-12-16 11:27 | Report Abuse

DickyMe...waah cn drop below , can buy la

Posted by newtrader1989 > 2021-12-16 11:50 | Report Abuse

Announce dividend drop more hahaahahaha

Posted by DickyMe > 2021-12-16 18:05 | Report Abuse

"Kadir DickyMe...waah cn drop below , can buy la
16/12/2021 11:27 AM"
=================================

If below IPO boleh beli lah, tapi tengok siapa dok dalam BOD dan pilot company.
Kalau pencuri, jaga-jaga lah.

Posted by remomama94 > 2021-12-19 15:14 | Report Abuse

https://paultan.org/2021/09/27/flash-floods-hit-shah-alam-car-owners-without-special-perils-insurance-coverage-face-hefty-bills/?fbclid=IwAR05KQBVrNIn8oTbBbKk9zVyu_XrpOzAge9R2CcgcO0Zvf04rSB9xW5pKsM

Posted by NatsukoMishima > 2021-12-20 10:27 | Report Abuse

Buy below rm 3 batch by batch , their management got big problem ??

Posted by Titanium > 2021-12-20 13:14 | Report Abuse

I think there will be many floats claim and damage claims. Despite many don't buy flood insurance but there will be still a handful of ppl have flood insurance. It will affect this Q results.

Posted by Jack888 > 2021-12-21 10:05 | Report Abuse

Go...go...go RM4.00

Posted by KingKong_Doll > 2021-12-22 13:56 | Report Abuse

A friend of mine drove the Aruz. Masuk air. Send workshop and they ask him to prepare 20K-25K if no flood insurance. Another friend drive branded continental car. Pomen says if submerge over car seats, no need for repair. Waste money. It is as good as getting a new car coz after fixed, sure here and then hv problems due to many electronic boards. Meaning,
1. There will be insurance claims but not sure what the % and if there is compensation, it will be huge.
2. There a'dy ppl start suggesting if a situation like this, after a few months go whack the car and claim total loss (It is illegal ok.....but you can't deny there are parties that resort to this.) More insurance claims.
3. There will be more new cars on the road because owner change car due to flood? This 1 gd for insurance business.
4. More 2nd hand cars....this 1 just simply mumbling only.........

My point? See 1 & 2 loh....

Posted by wsb_investor > 2021-12-22 14:57 | Report Abuse

1. Not that many people purchase flood add-on
2. There is reinsurance/retakaful arrangement to cover scenario like this

Posted by KingKong_Doll > 2021-12-22 16:00 | Report Abuse

Not that many ppl buy which is true but those who bought, last time maybe few claims because it happen due to ppl go out and drive into flood area. Now the flood come to your area. Also, last time might be claim not so severe and mayb certain part of the car. Now mostly the entire car. Anyway, it will be one off la. hopefully next yr will be a better year.

Posted by Jack888 > 2021-12-23 15:31 | Report Abuse

3.68 double top ??

Posted by newtrader1989 > 2021-12-24 10:17 | Report Abuse

Triple top. Forget it this lousy counter

Posted by apple168 > 2021-12-28 08:34 | Report Abuse

Covid-19, Delta variant, now omicron variant + flood claims + accident claims + thief claims … Takaful must standby plenty of cash for those claims…

Posted by Junichiro > 2021-12-28 09:33 | Report Abuse

How many people buy flood insurance ??

Posted by gordonn > 2021-12-28 11:39 | Report Abuse

Today dividend date also so less people buy ?

Posted by DickyMe > 2021-12-29 00:07 | Report Abuse

"
Junichiro How many people buy flood insurance ??
28/12/2021 9:33 AM"

=====================================

Wrong question!

Flood insurance comes under general insurance and the premium is not much for a hefty claim.

How much fund do they have to furnish claims?

Are they ready?