leno has been quietly and publicly collecting many many lots at cheap cheap price yesterday ... let's hope leno and fansi will win another BIG JACKPOT again ! Quarterly report will be out sooOOOONNNN !! MNRB CANTEEEEEEEEEEEEEEEEEEEEEEEEEEEEKKK !!
Takaful IKHLAS, had on 11 August 2014, received a letter dated 8 August 2014 from the Ministry of Finance ("MOF"), granting an exemption of tax on the wakalah fee income of the shareholder's fund received from the family takaful fund for the years of assessment 2004 to 2014. With MOF’s above exemption, the total instalment payments made todate to the IRB which amounted to RM18,239,672 would be receivable from the IRB. The Company is currently pursuing the recovery of the instalment payments made from the IRB.
Losses are Due to:
The net profit for the period ended 31 December 2014 reduced by 33.2% from RM121.9 million to RM81.5 million as a result of several large losses reported during the period including the Peninsular Malaysia Flood losses.
Most trusted and long lasting Insurance Company in Malaysia, buy the insurance from MNRB and you don't have to worry even if anything bad is going to happen. You must spend money to buy insurance from MNRB when you have the money or when you are in good shape, when you are in bad shape, for MNRB to come and save you from any plight, you reap what you sow but you have to sow first. This company's value is very high so high so high that nothing money can buy. It gives you protection from any calamities. Call MNRB, they will come and collect your insurance premium right away. Expanding new markets into Hong Kong, Singapore, and where are good long term strategy. At least you are in good hands, they know what they are doing, you don't buy Insurance from MNRB or buy the shares, the only think I can tell you later on is I am sorry.
Are you joking ? Few weeks ago you sprayed me with machine gun after I wrote about MNRB. Can we have a bit of consistency ? All these flip flopping put you in the same league as fortunebullz !!!!
This company already realized that they have to do 2 things: (1) Change and (2) Find new opportunity. They have found themselves new managers that are good to start out with, but they still need to do the two things. How well the share price is going to perform depends on whether (1) they are willing to change or not? and what they identify that they want to change we still don't know yet and (2) new opportunity? not bear fruit or haven't start doing them yet! But they have the right people now! To improve, of course, you need to change something after a while but in the long term this is necessary all the time. You can not wear the same trousers from 20 years old to 50 years old. What is the thing they want to change? They haven't said this yet! Anyway, buying and selling insurance is a good thing for everyone, I am sure the company will be around the next 30 years. It may not be so cheap in the future if they manage to get something new to happen!
But earlier on you say they are stupid to park their money in bonds ? Isn't that a major problem for you ? How come u now not concerned about that anymore ?
It is still same half glass of water. But now u see it half full. Few weeks ago u saw it half empty, and staled !!!
This is a company that can do the right thing first, before, they try to do the right thing right. (1) They already have the kind of managers who can do the right thing. (2) They are going to new markets to find new opportunity. (3) They are increasing the types or kinds of insurance products they often to customers to fulfill more customer needs. They will introduce more new insurance products in the future. Give more selections to customers they can gain more customers in the existing areas they are operating in. (4) I hope we don't rush in to buy shares in this company, slowly we need to accumulate first, so please don't push up the share price too fast.
I am going to come back to this counter 3 years later. By then, I hope they are able to do something new to make their customers want to buy insurance from them instead of going to other insurance company. I hope they try to grow their business instead of relying too much on investment income. They are not Warren Buffett, the master of investing, they are better for shareholders if they try to grow their business in the long run by playing more active roles in the local community in more different ways instead of relying on investment income by investing in sto cks or what that are much harder to do to make money for sure. So far, I like the management, I think they can do well in the long run, you just have to give them the necessary time to do every single thing right, not easy task, take time! Making mistake is ok because mistake is for learning and adapt to changes in the future. Make mistakes by doing something new please.
I believe rights issue is a high possibility. The reinsurance subsidiary is doing well. But the holding company is actually quite highly geared. Recently, they are going big into takaful, which will require more capital. As the holding company is not in a position to inject capital into takaful subsidiaries, shareholders might be called upon to play that role
------
Posted by littleduck > Aug 1, 2015 12:19 PM | Report Abuse
Low PE with no dividend sound like china counters...later announce rights issue then doom days ahead!
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
AhSook AhKou
1,296 posts
Posted by AhSook AhKou > 2015-04-26 23:25 | Report Abuse
Time to get out n move on !! Clearly trading looks downtrend n last 2 qtrs down !!