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Syarikat Takaful 1Q net profit rises 9% y-o-y
by Cals Tue 27 May 2014, 03:05
| Syarikat Takaful 1Q net profit rises 9% y-o-y |
| Business & Markets 2014 |
| Written by Ahmad Naqib Idris Adzman Shah of theedgemalaysia.com |
| Monday, 26 May 2014 17:45 KUALA LUMPUR (May 26): Syarikat Takaful Malaysia Bhd’s net profit rose 9% to RM35.1 million for its first quarter ended March 31, 2014, from RM32.2 million in the previous year’s same quarter. However, revenue for the quarter fell 17% to RM432.0 million from RM519.5 million in the year before. According to the company’s statement to the exchange, the lower revenue was attributed to a decline in sales by Family Takaful business, while the improvement in profit was due to “better investment results”. Going forward, the company said it will continue to establish a strong foothold in the local insurance and takaful arena, as it continues to be the market leader in the Group Family Takaful business. “The successful implementation of core initiatives in operational excellence, technology driven capabilities, product innovation and performance oriented culture will enable the company to be ahead of its competitors, increase its overall market shares and continuously improving on shareholder’s value,” the company said. |
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