pushing down the price of MNRB has a motive from PNB either to PRIVATISE or to collect IT CHEAP but selling it to a lower price below RM1 is encouraging small holders to pick up 5k to 10k shares for longer term holdings defeating both the purposes after reporting 2 quarters of GOOD RESULTS, so feeling good n comfortable to collect at 93sen n 90sen if AVAILABLE.
MNRB will the next surging stock like MPHB capital and MMC. Seriously undervalued by the market . It’s matter of time . I suspect we don’t have to wait very long .
Based on FY2021 EPS at 10x PE, it may fetch $2.20 if 15x PE , it is $3.30. MPHB sold it's insurance to Generali at more than 3x book value. Globally, insurance company sales is transacted at 2-5 x book value . How much you think MNRB worth if PNB decide to divest part of it's holding? Bear in mind MPHB is in the highly competitive general insurance and yet fetch > 3x book value. MNRB is in the fast growing and profitable takaful segment and it's the only RE insurance operator in Malaysia. Just my view . Not a buy or sell call
Just keep this share for dividend and capital gains. A lot of my malay friends buying the hibah takaful to protect their family and Takaful Ikhlas, subsi of MNRB is quite active in this...
I believe it's still grossly undervalued but well it's your money, your call. Good luck to you and if u have other better stocks to look at, let me know. I believe our investing principles are quite alike
Posted by TheContrarian > Mar 7, 2021 12:44 PM | Report Abuse
I might sell half.
Posted by Moratorium > Mar 8, 2021 10:54 AM | Report Abuse
TheContrarian I might sell half
I believe it's still grossly undervalued but well it's your money, your call. Good luck to you and if u have other better stocks to look at, let me know. I believe our investing principles are quite alike
I really love this stock, I have bought, sold, bought, sold, bought, sold numerous of times in the past few years. The lowest price I paid was around 69 sen.
Takaful’s 2020 EPS $0.44 and dividend $0.12. MNRB’s 2020 expected EPS $0.25 and full year dividend may be 6-8 sen . Takaful share price is $5/- MNRB should worth $2.50 since EPS and dividend is about half of Takaful???? In term of NTA, MNRB is double of takaful. Just for invoking some thinking.
TheContrarian, OSK was my favorite until the merger of it's Properties companies (OSKP and PJD) that took place around 2015. During that exercise, the consideration price for all the 3 companies were unfairly marked low especially for OSKH and PJD so that OLH gained absolute control of the group at low price . OLH and parties in concert now hold more than 60% of OSK. Since then, OSK price on the slide until now despite high NTA and 5-6% dividend yield. I personally don't like the unscrupulous behavior of the controlling shareholders who will only find ways to screw the minority with no mercy. It just my encounter band opinion. Do you own indept study .
TheContrarian,. My humble opinion is better to stay with MNRB. There will be up and down in it's share price. We just have to be patient a bit longer to ride it out. I like the new leadership , the good prospect of the industry and the solid fundemental of the stock. It will be the next Takaful Bhd. Even if it is half way to Takaful, reward is already very handsome. Just my thinking.
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....
ooihk899
2,058 posts
Posted by ooihk899 > 2021-03-02 20:19 | Report Abuse
Good lo, I can slowly collect cheap lo. Hopefully next year dividend
4 or 5 sen lo.