Highlights
KLSE: TAKAFUL (6139)       SYARIKAT TAKAFUL MALAYSIA BHD MAIN : Finance
Last Price Today's Change   Day's Range   Trading Volume
6.20   -0.01 (0.16%)  6.18 - 6.24  244,300
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Overview

Market Cap: 5,126 Million
NOSH: 827 Million
Avg Volume (4 weeks):835,620
4 Weeks Range:5.93 - 6.72
4 Weeks Price Volatility (%):
34.18%
52 Weeks Range:3.68 - 7.18
52 Weeks Price Volatility (%):
72.00%
Average Price Target: 6.98
Price Target Upside/Downside: +0.78

Financial Highlight

Latest Quarter | Ann. Date 30-Sep-2019 [#3]  |  24-Oct-2019
Next QR | Est. Ann. Date: 31-Dec-2019  |  24-Jan-2020
T4Q P/E | EY: 13.48  |  7.42%
T4Q DY | Payout %: 0.02%  |  0.32%
T4Q NAPS | P/NAPS: 1.58  |  3.92
T4Q NP Margin | ROE: 12.43%  |  29.11%

Headlines

Date Subject
31-Oct-2019 Syarikat Takaful Malaysia - Beating expectations
25-Oct-2019 Syarikat Takaful - SteadyEarnings Growth With Fundamentals Intact
25-Oct-2019 Sykt Takaful Msia - Robust 3Q19 Driven by Family Unit
25-Oct-2019 PublicInvest Research Headlines - 25 Oct 2019
25-Oct-2019 Syarikat Takaful M’sia Keluarga - 9MFY19 As Expected
25-Oct-2019 Mplus Market Pulse - 25 Oct 2019
22-Oct-2019 下跌股:大马回教保险RM5.77支撑
09-Oct-2019 Syarikat Takaful Malaysia - Not all smooth sailing
03-Oct-2019 Stocks on Radar - Syarikat Takaful Keluarga (6139)
02-Oct-2019 4Q19 Investment Strategy - Turning a Gentle Corner
02-Oct-2019 Syarikat Takaful Malaysia - Not All Smooth Sailing
01-Oct-2019 Syarikat Takaful M’sia Keluarga - Strong Balance Sheet
01-Oct-2019 Syarikat Takaful M’sia Keluarga - Buy the Book
16-Sep-2019 Syarikat Takaful Malaysia - In a Bittersweet Spot
10-Sep-2019 Syarikat Takaful Malaysia - In a Bittersweet Spot
05-Sep-2019 热门股:大马回教保险上挑RM5.95
13-Aug-2019 Trading Stocks - Syarikat Takaful Malaysia Keluarga
13-Aug-2019 上升股:大马回教保险阻力RM6.38
09-Aug-2019 Daily Technical Highlights – (TAKAFUL,WPRTS)
06-Aug-2019 Stocks on Radar - Syarikat Takaful Malaysia Keluarga (6139)

Business Background

Syarikat Takaful Malaysia Bhd is a takaful insurance provider in Malaysia and Indonesia. Like insurance, takaful protects participants from loss, but unlike traditional insurance, it adheres to a business model that conforms to Islamic religious law. The company’s business includes participants who pool their money into a Participant Risk Fund, which then has funds available to disburse when a participant is facing a loss. For managing the takaful fund, the company receives a service fee on participant contributions. Syarikat Takaful Malaysia primarily manages family and general takaful businesses, which include medical, motor, and home takaful. The vast majority of the company’s revenue comes from customers in Malaysia.
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  10 people like this.
 
Up_down It is not possible to achieve 100% correct in our decisions. What important is that when we know we are wrong and willing to initiate a change without care much of our ego. We have to follow trend to earn money in share market rather than fighting with the facts in real life.
25/10/2019 11:50 AM
Up_down Many IB claimed that QR growth and profits might be normalised starting 3rd Qtr. The facts is that they were wrong in making such projection based on their prejudice assumptions.
25/10/2019 12:01 PM
GSCIM If you realised that the IB that mentioned is because they have issue warrant on takaful and the exercise price is very low. That why they need to press down the price. Besides, if you read CIMB and maybank report, they actually saying the growth will be low before second qtr.
25/10/2019 12:30 PM
GSCIM I expected now profit taking until another round shoot up
25/10/2019 12:31 PM
Up_down It may take a bit of time for IB to admit that their projection underestimate the growth of Takaful. They have to arrange meetings and discussions to find out the reasons behind whereas we, retailers, are able to respond swiftly without a need to go through a lengthy process.
25/10/2019 12:53 PM
newbie911 Keep dropping...sell !!!
25/10/2019 3:20 PM
Isaac Lua Jun Wai Lol everytime out qr good keep on drop wtf this counter
25/10/2019 3:25 PM
newbie2y newbie911, @_@, record profit, sell ??
25/10/2019 3:31 PM
newbie911 Ya...took profit...
Rebuy around 6.
25/10/2019 3:37 PM
Beast lol really fake rebound.zz
25/10/2019 3:44 PM
GSCIM Lol as I said ytd. You can see unusual volume these week. Insider ady done parking
25/10/2019 3:53 PM
GSCIM Profit taking few days then only can further up
25/10/2019 3:53 PM
GSCIM Here is Malaysia not US
25/10/2019 3:54 PM
Beast nvm , i still want add please drop below 6
25/10/2019 4:19 PM
GSCIM Lol @beast u need hope something happen in US.
25/10/2019 4:46 PM
kaleemtheman Yesterday, Syarikat Takaful said that for the third quarter ended Sept 30, 2019 (3QFY19), net profit rose to RM112.34 million from RM83.96 million a year earlier. Cumulative nine-month net profit was higher at RM289.73 million versus RM204.35 million a year earlier.

Today, RHB Investment Bank Bhd wrote in a note that Syarikat Takaful's 3QFY19 net earnings met RHB's forecast but topped street estimates.
25/10/2019 6:01 PM
Abba84 Both RHB n Affin reiterated their growth- growing- confidence fr the nxt qurter wth higher Buy targt rting of $8 ,$8.40 fr.STMB.
It is a watershed achievmnt as results getting stronger n better.it wud of great importnc fr STMB not loose sight to continue ther best cmmtmnts to deliver promp efficient servcs of highest quality t its cstomers.
26/10/2019 1:43 AM
Anti_banker PH think bank huge profit is good? GE15 must try Pas as next govn.
26/10/2019 8:12 AM
Anti_banker Abba84 you work in RHB or Affin is it? How you know?

Posted by Abba84 > Oct 26, 2019 1:43 AM | Report Abuse
Both RHB n Affin reiterated their growth- growing- confidence fr the nxt qurter wth higher Buy targt rting of $8 ,$8.40 fr.STMB.
It is a watershed achievmnt as results getting stronger n better.it wud of great importnc fr STMB not loose sight to continue ther best cmmtmnts to deliver promp efficient servcs of highest quality t its cstomers.
26/10/2019 8:14 AM
Primeinvestor Bonus issue by next month haha
26/10/2019 10:06 PM
Jeffreyteck Analysts views divided... no big deal after all is just a guessing game... good luck.
27/10/2019 4:14 PM
newbie911 Earning per q over 100mil....is more than even big company like hartalega and topglove. Yet price still keep dropping, any idea?
30/10/2019 10:48 PM
Beast Maybe ppl prefer tech stock. All money flow to tech industry.didnt you notice all tech stock come out poor result but price keep up
31/10/2019 10:04 AM
GSCIM As I mention early, insider selling will take few weeks. So be patience, support will be around 6.2.
31/10/2019 11:28 AM
Up_down Hard to cari makan if we follow IBs analysis. The information below may provide some clues about the quantum of net contributions earned next few quarters.

Net contribution earned for Family Fund
Dec 19 - ???
Sep 19 - 570m
Jun 19 - 433m
Mar 19 - 472m
Dec 18 - 466m
Sep 18 - 408m
Jun 18 - 335m
Mar 18 - 308m
Dec 17 - 303m
Sep 17 - 289m
Jun 17 - 301m

Net contribution earned for General Fund
Dec 19 - ???
Sep 19 - 170m
Jun 19 - 103m
Mar 19 - 129m
Dec 18 - 93m
Sep 18 - 112m
Jun 18 - 103m
Mar 18 - 115m
Dec 17 - 68m
Sep 17 - 85m
Jun 17 - 77m
31/10/2019 2:32 PM
Up_down PAT
Dec 19 - ???
Sep 19 - 113m
Jun 19 - 80m
Mar 19 - 96m

Dec 18 - 90m
Sep 18 - 83m
Jun 18 - 50m
Mar 18 - 70m

Dec 17 - 56m
Sep 17 - 48m
Jun 17 - 44m
Mar 17 - 57m


Revenue
Dec 19 - ???
Sep 19 - 753m
Jun 19 - 673m
Mar 19 - 918m

Dec 18 - 702m
Sep 18 - 649m
Jun 18 - 542m
Mar 18 - 746m

Dec 17 - 518m
Sep 17 - 472m
Jun 17 - 485m
Mar 17 - 660m
31/10/2019 2:54 PM
Beast Guys what is this ? i dun understand
STMB is seen to be more negatively affected by the adoption of MFRS17 since single premium products make up a large 90%+ of its family takaful business
31/10/2019 7:07 PM
GSCIM @Beast MFRS17 is a new reporting standard which will effective as at 1/1/2021. The revenue and profit recognise will be change due to different accounting standard. Actually just more toward on changes on paper and nothing impact on practical. But you will see lesser revenue and profit
31/10/2019 7:16 PM
GSCIM But is funny that IB mentioned about it. Cause all insurance company have high population on single premium products. This is what insurance company aim for. Get the cash one off instead of monthly payment
31/10/2019 7:18 PM
GSCIM Single premium do not have risk of lapse and higher persistency.
31/10/2019 7:18 PM
Beast is that means single premium will divide into 12 months to recognise the profit?
31/10/2019 7:28 PM
GSCIM @beast Yes. To be exact is divided by lifespan of policy
01/11/2019 7:52 PM
Beast @gscim is this will influence much in profit and revenue? As the other quarter single contribution also divide to other quarter so the earning should be not influence much
01/11/2019 10:18 PM
GSCIM @Beast I not sure too. I did ask some Accountant friend. But they not really can answer that unless they work related insurance. MFRS17 only specific for insurance industry. From what I study is - all revenue and actuarial reserve will be divided by lifespan of policy. Therefore, you will see the sharp fall of revenue and profit. But they will also restructure last quarter report for reference.
02/11/2019 6:38 PM
Up_down unfavourable upcoming MFRS17 accounting change” as claimed by HL Invest. Is it really the new MFRS 17 impact to insurance company profit and loss? It seems like very very serious issues to insurance company...profit plunging??? Lolz

Here’s the summary explanation:

The presentation of the income statement also changes minorly, but the change is important. Written premiums are not important anymore it is now about services provided. So earned premiums are replaces by service income and service expenses. As the name implies the income and expenses connected to the services which the insurer has provided in the period. Also for the income statement will the specification change largely:

Specification whether the service income and expenses are connected to a service which was delivered in the past, current period or even future period
Just like the balance sheet do we also have to divide the changes of the insurance liability into Fair Value Approach, the Modified Retrospective Approach or the Full retrospective approach / regular contracts.
02/11/2019 9:29 PM
Up_down There’s an illustrative example published by IFRS.org in comparison between IFRS 4 and IFRS 17. ....The final profit and loss shows a slightly improvement whereas Revenue plunging due to different basis in recognizing revenue.

https://www.ifrs.org/-/media/project/insurance-contracts/ifrs-standard/ifrs-17-effects-analysis.pdf/
Page 83
02/11/2019 9:43 PM
newbie911 Looks like big fund is disposing, bad news coming?
05/11/2019 10:42 PM
Up_down Based on HL Invest research report title " In a Bittersweet Spot " on 16 Sep 2019, it mentioned that 'As for its family bancatakaful business, credit-related products growth should taper and normalize from 3Q19 on wards, given contribution from Bank Rakyat on a full-year basis has come to a tail end, coupled with a high base effect ". However, It did not happen. Takaful remains on track of achieving double digits growth.

Family Fund Revenue growth QoQ
30 Sep 19 - 24%
30 Jun 19 - 34%
31 Mar 19 - 32%
31 Dec 18 - 50%
30 Sep 18 - 45%

30 Jun 18 - 8%
30 Mar 18 - 6%
31 Dec 17 - 0%
30 Sep 17 - 5%
30 Jun 17 - 3%
05/11/2019 10:42 PM
Up_down Takaful CC, CD and CF are expiring end of this month.
05/11/2019 10:45 PM
probability just bought some this week...hope it goes up slow and steady..
05/11/2019 10:49 PM
Up_down CE issued by CIMB is expiring end of Jan 2020. Think they will press down the share price again after the QR announcement.
05/11/2019 10:56 PM
Up_down Probability. Yeah. Better move up slowly. IBs love to issue call warrants to take advantage of volatility of share price movements.
05/11/2019 11:15 PM
probability yeah...i really hope they can capture more market share in indonesia... 264 million will one day be just as good as malaysians...

they have to.
05/11/2019 11:21 PM
myone99 CEO is selling..
06/11/2019 9:04 PM
GSCIM Lol they selling since March. They got back the share from ESOS with super low price. I wonder who keep collecting the share from directors?
07/11/2019 8:51 AM
GSCIM I think takaful need wait until that two warrant expired
07/11/2019 9:58 AM
Abba84 Mother dropped so warrnts not moving..typical fr takaful ..buyers kept selling wondrr wen it wil move up..
07/11/2019 10:13 AM
GSCIM Is because warrant expired soon. Bank will press down the price. But that two warrants are far in the money. They just try to minimise their loss
07/11/2019 11:30 AM
GSCIM After 23/11 only back here observe
07/11/2019 11:31 AM
Dakewlest If jatuh below RM6 then beli semula...
08/11/2019 11:46 AM


 

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