Posted by CakapSohaiThings > 2021-10-13 23:40 | Report Abuse

Dont fight the trend lol. If the operators could press CIMB (which has a much larger market cap and was already extremely undervalued) until below RM3. Pressing Takaful (which has a lower market cap and is currently fairly valued) to the next support is peanuts. Just buyback when there is a turn around in price action.

Posted by Kadir > 2021-10-14 11:37 | Report Abuse

Rebound

Posted by nisah395 > 2021-10-14 14:11 | Report Abuse

the price looks attractive

Posted by vcpmaster123 > 2021-10-15 11:03 | Report Abuse

Feels like there's show soon... Rsi oversold and price stable at 3.99 area... However, need to wait bimb, epf and tabung haji etc exchange their shares portion 1st...it seems like they try to exchange as much as possible at 3.99 price..

Posted by vcpmaster123 > 2021-10-15 11:05 | Report Abuse

Another indicator of bottoming is the volume is thinning...but then need epf to push it back up... Retailer lose confidence in the stock already..

Posted by nisah395 > 2021-10-21 15:59 | Report Abuse

3.99 broken

Posted by Sohai Trader > 2021-10-22 17:12 | Report Abuse

portfolio rebalancing done...? volume decreasing

Posted by Investeye > 2021-10-25 16:35 | Report Abuse

Take opportunity to buy at RM3.96

Posted by nakata > 2021-10-25 20:29 | Report Abuse

any chance to go lower? EPF keep selling ..

Posted by Investeye > 2021-10-26 10:48 | Report Abuse

Without EPF keep selling, I think we don't have chance to collect at low.

Posted by Investeye > 2021-10-28 10:59 | Report Abuse

The price will only up after big players of BIMB (received free Takaful units from BIMB corporate restructuring)rebalanced their portfolio .

Posted by Investeye > 2021-10-28 11:00 | Report Abuse

This scenario is exactly same with IGBCR

Posted by vcpmaster123 > 2021-10-29 17:46 | Report Abuse

Actually I losing patience. .. Dont feel like the rebalancing is ending anytime soon..

Posted by grandwarden > 2021-10-31 18:20 | Report Abuse

Why takaful PE lower than its peers?

Posted by fortunefire > 2021-11-01 10:22 | Report Abuse

bought some at 3.92 this morning. Hope it will drop further. Next tp is 3.85

Posted by CakapSohaiThings > 2021-11-01 16:58 | Report Abuse

New 52-week low. Every week, breaks new record, stop fighting the trend. Operators want to push lower, nothing is going to stop them

Posted by fortunefire > 2021-11-01 18:09 | Report Abuse

Hope can drop further. tp 3.7 mari mari

Posted by fortunefire > 2021-11-03 14:53 | Report Abuse

those who bough above 4.0 better sell now before it drops further

Posted by TianChoi1 > 2021-11-03 19:16 | Report Abuse

U want other to sell so that u can buy lower?? Ha ha ha
We are not that poor as u think. We can keep and keep

Posted by TianChoi1 > 2021-11-03 19:17 | Report Abuse

We are here for long long haul ones……

Posted by DickyMe > 2021-11-03 19:34 |

Post removed.Why?

Posted by DickyMe > 2021-11-03 21:36 | Report Abuse

No need to hard sell!

This is indirectly a GLC.

Posted by Careonng > 2021-11-04 02:41 | Report Abuse

Rm100k

Posted by TianChoi1 > 2021-11-04 10:47 | Report Abuse

Value_invest. Tks for sharing. Will definitely invest more in this counter.

Posted by Investeye > 2021-11-05 10:32 | Report Abuse

Take opportunity to have another shot at RM3.71, just hope the selling pressure from BIMB shareholders will over soon.

Posted by DickyMe > 2021-11-05 10:32 | Report Abuse

Investing in insurance section is not wrong but choosing the insurance company needs prudence.

Posted by Investeye > 2021-11-05 10:42 | Report Abuse

Expect to have very strong support at RM3.50 , will fire another shot if price near to that level.

Posted by pirate99 > 2021-11-05 14:25 | Report Abuse

non stop price being pressed down.. what happened ?

Posted by nisah395 > 2021-11-05 14:46 | Report Abuse

towards RM3?

Posted by nisah395 > 2021-11-05 14:48 | Report Abuse

wooow, AmInvest TP RM4.70

Investment Highlights
We maintain our BUY call on Syarikat Takaful Malaysia Keluarga (STMK) but lower our fair value from RM6.20/share to RM4.70/share. Our valuation is now based on FY23 P/BV of 2.4x supported by ROE of 23.5%. We have reduced our FY23 earnings by 15.8% to factor in the impacts of FRS 17.
We normally base our FV on FY22 numbers before rolling over valuation to FY23 after the end of 1QCY22. However, to be conservative, we have accelerated our valuation on STMK to be based on FY23 estimates which have incorporated the impacts of FRS 17.
With the recent share price weakness, we see value emerging on the stock. Nevertheless, potential upside is seen narrower than before after taking into account the potential impacts of FRS 17.
Based on our channel checks, FRS 17 which will replace FRS 4 is likely to be implemented on 1st Jan 2023. At this juncture, regulatory authority has yet to issue the finalized guidelines. Changes may still occur between now and the implementation date of the new accounting standard.
The adoption of FRS 17 requires retrospective adjustment. Looking ahead, there will be a day 1 adjustment, impacting the opening balance of STMK’s shareholders’ funds in FY23. Unearned profits will be reversed out from its retained earnings. It will then be recognized under insurance contract liabilities in balance sheet.
We see FRS 17 to be largely impacting STMK’s family takaful business. In 1H21, credit related contributions (MRTT including LPPSA MRTT and personal financing) made up a significant 75.2% of the total gross contributions for the group’s family takaful business. In view of the strong focus on bancatakaful products with single premiums collected upfront covering long term liabilities, FRS 17 will impact STMK’s recognition of revenue moving forward.
From FY23 onwards, contributions will only be recognised by STMK when it is earned. This will prolong the recognition of revenue from the contributions collected. It will change from the current way of fully recognising contributions in P&L to a recognition on earned basis. As a result of this, unearned profit or contractual service margin (CSM) will gradually be amortised over the liability period of the insurance contract and recognised as insurance revenue in the P&L. This will coincide with the insurance services provided.
For FRS 17, we expect both our earlier estimated FY23 shareholders’ funds and BVPS to be impacted by 28.5%. Meanwhile, FY23 profit after tax (PAT) and dividend per share is projected to be affected by -15.8% and -15.6% respectively. In regards to ROE, the impact is anticipated to be minimal as the denominator will be lower. This is due to the day 1 adjustment to the opening balance of shareholders’ funds in FY23 (see Exhibit 1).
As of end 1H21, STMK retained its no.1 ranked position in family takaful business among 11 takaful operators with a commanding market share of 24.0%. Meanwhile, on a combined basis of 25 life operators in total (conventional: 14 and takaful: 11), it ranked 3rd with market share of 9.0%.
In contrast for general takaful business, the group was ranked 2nd among 4 takaful operators with a market share of 23.0%. From a combined perspective of 25 general insurance operators (conventional: 21 and takaful: 4), STMK sits in the 11th spot with market share of 3.7%.
Sales from online portal grew 19.0% YoY to RM48.3mil in 1H21 contributed largely by motor products followed by general non-motor and family takaful products.
The group has recently rolled out a new usage-based motor takaful cover (Pay as you drive). This product is seen to be profitable as the policyholders tend to be lower mileage drivers with potentially low claims. Nevertheless, this product is seen to be intensely competed in the market with competitors offering similar coverage.
STMK introduced its revamped ‘click for cover’ app with new look and features in Mar 2021. ‘Tele bantuan’ app was also launched at the same time to assist motor policy holders for tow truck assistance, panel workshops and windscreen services.
To expand its digital reach, the group has been involved in social media engagements with campaigns done through Facebook, Instagram, Google Ads, Google Display Network and Youtube.
STMK is also collaborating with LLPSA to cross sell new online accidental protection plans leveraging on the latter’s customer base.

As at End of Sept 21, Foreign Shareholdings of STMK Stood at 8.21%.

Our net profit estimates are based core or normalized earnings. The estimated impact to STMK’s FY22 reported earnings from the one-off imposition of “Cukai Makmur” (additional 9% tax to 33%) applied on profits in excess of RM100mil is a circa 8.4%.
Source: AmInvest Research - 5 Nov 2021

Posted by pirate99 > 2021-11-05 14:52 | Report Abuse

Truly need good catalyst and foreign fund buying, which unlikely to happen in coming week considering election coming for Srwk & Malacca ?

Posted by ctquay600305 > 2021-11-05 14:54 | Report Abuse

better run

Posted by TianChoi1 > 2021-11-05 15:00 | Report Abuse

Opportunity for us to buy at such at good price!!! Huat

Posted by toto > 2021-11-05 17:25 | Report Abuse

Heard that the truth of the big drop will be revealed somewhere in tis month.

Posted by pirate99 > 2021-11-05 17:28 | Report Abuse

OK lah I also wait.. itchy hands ady..

Posted by newtrader1989 > 2021-11-05 17:46 | Report Abuse

Abdul Karim of Serba Kon group of companies is the new ceo of Takaful?

Posted by nisah395 > 2021-11-06 07:59 | Report Abuse

really ?


newtrader1989 > Abdul Karim of Serba Kon group of companies is the new ceo of Takaful?
05/11/2021 5:46 PM

Posted by DickyMe > 2021-11-06 16:12 |

Post removed.Why?

Posted by Colgate > 2021-11-07 07:33 | Report Abuse

OFF SHORE AGENTS GIVE UP , not negotiate

Posted by Colgate > 2021-11-07 07:34 | Report Abuse

reason on CURRENT PRICE NOT ATTRACTION

Posted by Colgate > 2021-11-07 07:34 | Report Abuse

OBSERVE , operator is not itchy hand

Posted by Colgate > 2021-11-07 07:35 | Report Abuse

HITTING THROUGH CLOUD LEVEL < TARGET TO OUT PLANET

Posted by Colgate > 2021-11-07 07:35 | Report Abuse

MY FAVORITE FORTUNE TELLER ADVISOR MASTER PAWN TEACHER

Posted by Colgate > 2021-11-07 07:36 | Report Abuse

I also observe this few day pretty , getting smaller

Posted by Colgate > 2021-11-07 07:36 | Report Abuse

laugh died my stomach

Posted by Colgate > 2021-11-07 07:37 | Report Abuse

One day player is still active , you money TRAP

Posted by Colgate > 2021-11-07 07:38 | Report Abuse

Prepared your trolley , any moment

Posted by Colgate > 2021-11-07 07:38 | Report Abuse

MY OFF SHORE GROUP COMRADE , got inform me , THEY STILL got big party interesting

Posted by Colgate > 2021-11-07 07:39 | Report Abuse

I believe on current , present , all royalty holder

Posted by Colgate > 2021-11-07 07:39 | Report Abuse

the advantage is THEY ARE MAJORITY , MONOPOLY THE CHIPS in this counter