Work 10 days also don't make money. Better don't work. I have little idea what MNRB's biz is but according to a mate who has been im the insurance line for > 30 years, MNRB is re-insurer. In layman's language, MNRB no need to work. All the insurance co. must work to sell policies and once they get biz, must GIVE a portion of the biz to MNRB and must pay MNRB whether the insurance co collect theirs or not. Meaning that (1) no need to do anything sales automatically comes to their doorstep and (2) no need do anything money goes into MNRB bank automatically. All they need to do is make sure that they don't sailang the bank balance in casino. Of course like all other insurance co. they would need to fork out their portion in the event of insurance claims. Why other insurance co can make money even though they have cost of sales and MNRB make losses even though they have no cost is beyond our simple imaginations. That's why I say, better they don't work that 10 days, then probably MNRB would make profit
The company has been losing money for three consecutive quarters. It has to make a lot of money, 50 to 60 sen per share like it used to before it can pay good dividend. I have the confidence that it can turn around this quarter.
Write a comment.Time to collect MNRB, it is a highly undervalued stock. Target = RM 4.80
Its net worth is > RM 6 per share (before BI ex). Its conservative target price = RM 4.80, which is abt 0.8 times of its net worth. Comparisons with other stocks' share price vs book value: BIMB = 1.6 times LPI = 3 times HLBank = 1.26 times Maybank = 1.3 times PBbank = 2.3 times TopGlove = 3.3 times TM = 3.4 times Tenaga = 1.6 times Axiata = 2.1 times
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....
Junichiro
2,063 posts
Posted by Junichiro > 2016-04-27 12:52 | Report Abuse
Ha Ha, I see yr point there.