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RHB Research maintains Buy on Syarikat Takaful M’sia, raises fair value to RM15

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RHB Research maintains Buy on Syarikat Takaful M’sia, raises fair value to RM15 Empty RHB Research maintains Buy on Syarikat Takaful M’sia, raises fair value to RM15

Post by Cals Tue 29 Apr 2014, 22:04

RHB Research maintains Buy on Syarikat Takaful M’sia, raises fair value to RM15
Business & Markets 2014
Written by theedgemalaysia.com   
Tuesday, 29 April 2014 08:05

KUALA LUMPUR (April 29): RHB Research has maintained its Buy rating on Syarikat Takaful Malaysia Bhd (STMB) at RM12.40 with a higher fair value (FV) of RM15 (from RM13.10) and said it still sees value in STMB, which it described as a proxy to the takaful industry.
In a note Tuesday, the research house said leveraging on its unique proposition, STMB should continue capturing market share as competitors face possible consolidation and capital constraints.
“Its 15% growth target is intact while 1Q14 weakness on softer creditwakalah growth could be mitigated by better response to its MRTT and GT products.
“Maintain Buy with a higher RM15 FV,” it said.
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