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NewsMAA Holdings back in the black in Q2
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MAA Holdings back in the black in Q2
by hlk Tue 23 Aug 2011, 19:51
MAA Holdings Bhd recorded a pre-tax profit of RM19.2 million for the second quarter ended June 30, 2011 compared to a pre-tax loss of RM6 million in the same period last year.
Revenue rose to RM602.86 million from RM544.85 million previously, MAA said in a statement today.
MAA said the higher pre-tax profit in the current period was mainly due to higher net gain from realisation of investments, improvement in net claim ratio, coupled with lower commission and management expenses.
On outlook, MAA said, it expected more competition in its operating environment in terms of product innovation and distribution methods and further regulatory changes in the insurance industry. -- Bernama
Revenue rose to RM602.86 million from RM544.85 million previously, MAA said in a statement today.
MAA said the higher pre-tax profit in the current period was mainly due to higher net gain from realisation of investments, improvement in net claim ratio, coupled with lower commission and management expenses.
On outlook, MAA said, it expected more competition in its operating environment in terms of product innovation and distribution methods and further regulatory changes in the insurance industry. -- Bernama
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