If you are interested in making fast money, this counter may not be for you. However if you are in for a longer period, this counter could be rewarding based on the current price (RM1.13) and fundamentals. I think the current price is cheap and the movement is guided more by fundamentals (Maybank has also lifted the TP to RM1.40 recently). MNRB will be paying out a dividend of RM0.0445 at the end of this month. If we assume the dividend is based on the FY2023 earnings of RM0.153, the payout ratio is approximately 0.29 (that is 0.0445/0.153). The first quarter earning of FY2024 is out at RM0.089. If we assume the average quarterly earning is RM0.065, the annual earning will be RM0.065x4=RM0.26. If the payout ratio of 0.29 is maintained for FY2024, there is the potential dividend of RM0.0754 (that is 0.29xRM0.26). Please bear in mind that the NTA for Q1FY2024 is already RM3.42 which means there is the potential of granting a bonus in the future. The future investment income for MNRB should be good based on the compositions of her investment (high percentage of fixed deposits and extended loans to outside) amid the higher interests environment. I hope I am right as there are always uncertainties (inside and outside) especially in this line of business.
MNRB has declared a dividend payout policy of between 40% to 75%, but has not followed this policy for some years. Even if it pays out 40%, the share price can be 50% higher.
uw loss. made profit only from forex USD hedging based on annual report. i have ran off with 20k profit rather than waiting for div with war looks unsettled the USD?
Heard YouTuber siput buy call on MNBR, so the followers rushing in to buy this lousy company! Actually the syndicates already bought at lower price and disposing to the chasers! Don’t remember that fear of missing out is the top investment killer!
Some corporate exercise is ripe for this laggard which is majority own by PNB. It shall fetch many times higher than its capitalization amount should PNB decides to monetise it.
This MNRB is a fine choice loh! General Raider fully support it loh! It score very well in earnings, asset backing, dividend and most importantly margin of safety mah!
Posted by Johnzhang > 24 seconds ago | Report Abuse
Some corporate exercise is ripe for this laggard which is majority own by PNB. It shall fetch many times higher than its capitalization amount should PNB decides to monetise it.
It cannot be STMB buy the whole of MNRB bcos...........as most of MNRB business are non halal such as conventional insurance loh! If STMB buy MNRB it will be only the halal islamic portion of the business part loh!
On the otherhand MNRB can buy the whole of STMB but the point is MNRB mktcap Rm 1002m v STMB Rm 3065m.
Conclusion the takeover or merger will likely be the islamic or halal portion of MNRB business by stmb loh!
I have quick and dirty formula to estimate the intrinsic value using the ROE and Book Value Intrinsic value = (ROE/Cost of capital) X Book Value. Its historical ROE is about 5% so that the term ROE/Cost of capital is about 50%. So are you surprised that the market price is about less than the Book Value? The company must improve it returns
Surely any Co that can improve its ROE will be positive for its share price loh!
In MNRB case, its ROE is below 5% pa...........indicating underperformance on the use of shareholders fund loh!
But if u buy MNRB at Rm 1.28 v its Nta above Rm 3.00...........U buying at huge discount....at below PE 8x.............this means your actual earnings return is above 12.5%pa.
Thus the above illustrate low roe handicaps can be adjusted or compensated by getting the stock at huge discount below intrinsic value....base on huge margin of safety investment tech loh!
The 3rd quarter results is good. The total earnings for 3 quarters has reached 25 sen per share. I am optimistic that total earnings for the whole financial year will be more than 32 sen per share. I will consider picking up some tomorrow.
MNRB Holdings Bhd’s net profit for its third quarter ended Dec 31, 2023 surged 47.36% to RM84.61 million or 10.8 sen per share, from RM57.42 million or 7.33 sen per share a year ago, driven by higher revenue from its insurance and takaful segment. Quarterly revenue rose 22.05% to RM980.87 million from RM803.69 million a year ago, mainly contributed by higher investment income and favourable fair value movement of investments. No dividend was declared for the quarter. — MNRB Holdings posts 47% jump in 3Q net profit on higher insurance and takaful revenue
MNRB Third quarter 2024 earnings released: Third quarter 2024 results: EPS: RM0.11 (up from RM0.091 in 3Q 2023). Revenue: RM761.3m (down 15% from 3Q 2023). Net income: RM84.6m (up 19% from 3Q 2023). Profit margin: 11% (up from 8.0% in 3Q 2023). The increase in margin was driven by lower expenses. Revenue is expected to fall by 68% p.a. on average during the next 3 years compared to a 1.8% decline forecast for the Insurance industry in Malaysia.
Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 21% per year, which means it is tracking significantly ahead of earnings growth.
Looking Ahead: Optimism and Strategy Looking forward, Zaharudin expressed confidence in the group's future. He cited the robust foundation of MNRB's business diversification and the successful implementation of its strategic plan as key factors that will ensure a successful closure of the financial year. The group also plans to continue its strategic approach to asset allocation and sustainability commitments, aiming to further consolidate the momentum gathered.
the last comments before uptrend was from stockraider , the other here are new shareholder I guess, I have been holding since last qtr report at RM1.2..the below link annocement will soon push it above RM2.5 for sure
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Posted by wallstreetrookieNEW > 2023-09-01 09:34 | Report Abuse
Bought in