Takaful Malaysia Q1 pre-tax profit up 33pc

Syarikat Takaful Malaysia Bhd has recorded a 33.5 per cent rise in its profit before taxation and zakat (PATZ) of RM37.512
million for the first quarter ended March 31, 2012 compared with RM28.096 million in the same period last year.

Its
operating revenue increased by 38.8 per cent to RM429.045 million from
RM308.982 million the same period last year, it said in a statement
today.

The significant improvement in profit was attributed
mainly to the higher surplus transfer from its Family Takaful fund and
higher wakalah fee incomes.

Takaful Malaysia said the surplus
transfer from the respective funds came about following a change in
reserving methodology made in accordance with Bank Negara Malaysia's
guidelines effective from financial year beginning on and after 1 July
2011.

The total impact of the change in reserving methodology
is approximately RM4.7 million additional profits to the shareholders'
fund, it added.

It said Family Takaful recorded gross earned
contributions of RM248.5 million, against RM123.5 million for the same
period last year whereas General Takaful generated lower gross earned
contributions of RM96.8 million compared to RM97.7 million in the
previous corresponding quarter.

Datuk Mohamed Hassan Kamil,
Group Managing Director of Takaful Malaysia said its return on equity
continued to improve and stood at 6.6 per cent compared to 5.6 per cent
for the same period last year.

Earnings per share meanwhile rose to 19.02 sen as compared to 13.75 sen previously.

Total assets size went up by about 3.4 per cent to RM6.1 billion from RM5.9 billion as at the financial year ended Dec 31, 2011.

Takaful
Malaysia said its prospect for the current financial year remained
encouraging despite growing competition from other takaful players.

Among
plans for this year include the introduction of new products, expanded
distribution capabilities especially through telemarketing, internet
sales and new recruitment initiatives, new IT portal initiatives to
improve customer service standards as well as future partnership
tie-ups with new Islamic financial institutions. -- Bernama

anytime R1 4.15 achieveable

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super mom up 30 sen as we speak break R1 4.15 = 4.25

takaful hit high of 4.43 closing 4.40 ... +45sen [You must be registered and logged in to see this image.]

123% 4.671 TP

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another 17 sen to target

looks like takaful wants to buy something

Sykt Takaful mulls M&A for market growth
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[i]Syarikat Takaful may go for M&As to secure bigger market share[/i]
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TP 123 % reached , test again S1 now 4.67 or race to R1 4.99 aka RM5

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tis morn gone up 4.95 but succumbed 2 PT close 4.88

tks 4 putting up d chart ... + 1 = 237

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Takaful Malaysia close to sealing UK property investment deal
by hlk Yesterday at 17:47

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KUALA LUMPUR: Syarikat Takaful Malaysia Bhd
is close to concluding an overseas investment deal specifically in the
UK property market which would mark its foray into overseas property
investments.
Its group managing director, Datuk Mohamed Hasan Md Kamil
said on Thursday the "depreciation of the British pound and a devalued
market are a few of the factors that make investment in London
attractive".
He said this was one of the key factors and reasons of Takaful Malaysia's property investment in the UK.
Takaful
Malaysia is also moving ahead to set up a unit in the Labuan
International Offshore Financial Centre (IOFC) where the special
purpose vehicle would hold its overseas property investment.
Mohamed
Hasan said most companies or organisations would consider Jersey or
Guernsey offshore centres to set up the SPV company, but Takaful
Malaysia believed Labuan IOFC offered better advantages over the others.
"Besides
supporting the government's effort in promoting a local IOFC, Labuan
IOFC also provides a business friendly regulatory structure and a
preferential tax regime. These major factors will facilitate the
overseas investments of companies incorporated in Labuan," he said.

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Takaful Malaysia to open four more myCare Centres
by hlk on Mon 11 Jun 2012, 09:25

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SHAH ALAM: Syarikat Takaful Malaysia Bhd will open four more Takaful myCare Centres in Putrajaya, Malacca, Sungai Petani and Temerloh this year.

General Manager (retail agency) Mohd Suhaimi Ahmad said each centre would cost an average RM500,000.

The centres in Putrajaya and Malacca would be opened in July while the other two by year-end, he told Bernama.

“Presently, we have 14 centres nationwide including in Sabah and Sarawak offering Takaful Malaysia products and services to customers,” he said.

He said the centres would enable Takaful Malaysia to enhance its service quality.

It was launched in May 2010 as part of the company’s RM1mil rebranding exercise. — Bernama

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M&A Securities Research keeps Buy on Takaful, FV RM5.44
by hlk Today at 10:01

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KUALA LUMPUR: M&A Securities Research is maintaining its Buy call on Syarikat Takaful Malaysia with a fair value of RM5.44.
It
said on Thursday, its FV of RM5.44 was based on its earnings per share
for FY2012 of 61 sen multiplied by its peers average price-to-earnings
FY12 multiple of 8.91 times and discounted by 30%.
It was commenting on the news report that Takaful Malaysia Bhd
is close to concluding an overseas investment deal specifically in the
UK property market which would mark its foray into overseas property
investments.
The depreciation of the British pound and a
devalued market is a few of the factors that make investment in London
attractive. This was one of the key factors and reasons of Takaful
Malaysia's property investment in the UK.
Takaful Malaysia is
also moving ahead to set up a unit in the Labuan International Offshore
Financial Centre (IOFC) where the special purpose vehicle would hold
its overseas property investment.