Takaful Malaysia listed as OSK top 5

Syarikat Takaful Malaysia Bhd (Takaful Malaysia), was listed among the top five companies in the 2012 edition of OSK Top Malaysia Small Cap Companies - 30 Jewels, launched today.

Takaful Malaysia has recently concluded its 2011 financial year on a high note with record profits exceeding the RM100 million mark for the first time.

In its report, OSK Research gave Takaful Malaysia a fair value of RM4.42 per share pegged at 10 times financial year 2013 price earnings multiple.

For the past 12 months, Takaful Malaysia's share price has been performing positively, and has rallied from RM1.40 and is now hovering at above RM3.00.

In another development, Takaful Malaysia has also embarked on the "We Should Talk" campaign which marked an aggressive effort by the company to engage and connect with its potential clients and investors.

The campaign is aimed at creating awareness for takaful or Islamic insurance and its value-added benefits with the profit-sharing concept, particularly on the company's 15 per cent No Caim Rebate offering for general takaful products.

With the launch of the campaign, Takaful Malaysia is poised to secure more new premiums in the medium-term, adding to its future earnings visibility, the company said in a statement today.

In terms of gross takaful contribution, Takaful Malaysia was ranked second in 2011 with a 21 per cent market share while the market share for General and Family takaful business stood at 26 per cent and 18 per cent, respectively.

According to OSK, Takaful Malaysia is forecast to see consistent earnings in view of the industry's positive macro outlook.

The large Muslim population in Malaysia and Indonesia as well as stable dividend payout and strong balance sheet were the contributing factors to Takaful Malaysia and put it in good stead. -- Bernama