Also, there is this civil servant pay rise of about 20-40% coming into effect this Dec 2024. There are about 1.7 million civil servants in Malaysia. This will definitely benefits Takaful!
for sure it will be good. because insurance premiums are rising, investment return will reflect higher yield bond, good car sales, civil servant salary increments, takaful newly launched KAOTIM and etc... all pointing to good coming quarterss
TAKAFUL’s 1QFY24 results met expectations. With sustained demand for its products, we believe the stock could be further highlighted for its relatively lower exposure to detariffication spurred competition. Maintain our forecast but raise our TP by 13% to RM4.35 as we roll over our valuation base year and upgrade it to OP (from MP). We feature TAKAFUL as one of our Shariah Top Picks.
Takaful is backed by Bank Islam, every year revenue and net profit go up steadily, steady growth, steady dividend and is operating in a country where the muslim population increases every year. And takaful licenses are limited in Malaysia, so it's protected so to speak.
Where do you find a steady/growth business like this lying around at PE 9? It will go up for sure. Their investment return will increase in the coming quarters too, at higher yield which they invested 1-2 years ago that is now maturing.
This year is Takaful 40th year anniversary since inception. Based on their financial strength, it is reasonable to expect something big end of this year!
people dont like steady, people like penny stock that could give them illusion of making high profit in the shortest period, but people always forget about the risk that could wipe them out.
Bank Negara Malaysia (BNM) has required insurance and takaful operators (ITOs) to begin providing a co-payment option for their medical and health insurance and takaful (MHIT) products by September this year.
During 2Q2024, CIMB said the services sector — which accounts for more than half of Malaysia’s economic output — is poised for a "stellar rebound", exceeding the advance estimate of 5.6% year-on-year growth.
The volume index of services, a proxy for private sector services, rose 6.7% year-on-year in 2Q2024, led by the insurance sector that recorded its first expansion in nine quarters, the research house noted while also flagging improvement in consumer-facing industries.
MNRB 2024 annual report excerpt which was released on 31/7/2024.
Overall, Malaysia’s insurance and takaful industry is poised for sustained premium growth, driven by economic recovery, increased penetration, and growing demand for digital services. While challenges persist, the industry’s long-term prospects remain positive.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Tsukasa
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Posted by Tsukasa > 2024-05-11 16:52 | Report Abuse
Also, there is this civil servant pay rise of about 20-40% coming into effect this Dec 2024. There are about 1.7 million civil servants in Malaysia. This will definitely benefits Takaful!