Posted by TrippleZ > 2020-04-21 16:20 | Report Abuse

MNRB = Malaysian National Reinsurance Berhad

Posted by RedEagle > 2020-04-22 07:15 | Report Abuse

"Harga minyak jatuh ke negatif!" "Habis lah!"

Rileks, harga minyak mentah sedunia memang jatuh teruk, tapi yang jatuh 306% jadi $-37.63 setong tu cuma harga bagi "West Texas Intermediate" (WTI) keluaran US.

Untuk minyak Brent (keluaran Shell UK), harga masih positif, dalam $25. Harga minyak "Tapis" keluaran Malaysia pun masih $28, jatuh 1.7% je.

Minyak mentah ni macam kurma juga. Lain tempat lain keluaran, walaupun semua dikenali sebagai kurma. Ajwa tu keluaran Madinah, Deglet Noor Algeria, Medjool dari Morocco. Kualiti pun lain-lain.

Minyak mentah pula, selain WTI dan Brent, ada juga ESPO (Rusia), Urals (Rusia), Maya (Mexico), Minas (Indonesia) dan macam-macam lagi. Keluaran Malaysia selain "Tapis" ada juga "Bintulu Condensate", "Miri" dan lain-lain. Kualiti berbeza-beza ikut kandungan sulfur ("sweet" atau "sour") dan graviti ("heavy" atau "light").

Minyak WTI ni "sweet" dan "light", ramai suka beli, sebab tu harganya dijadikan "benchmark" dan dilaporkan dalam berita setiap hari bersama-sama Brent. Tapi harga WTI tak mewakili semua minyak yang ada di pasaran.

Yang lebih penting, kita kena faham minyak mentah ni didagang pakai "futures" atau kontrak ke hadapan. Katakan kau nak stok minyak pada Mei 2020, kau kena order semasa April.

Minyak mentah ni pembeli dia adalah syarikat-syarikat pemprosesan minyak. Diorang tak beli on the spot tapi beli in advance pakai "futures" supaya boleh manage risiko perubahan harga.

Yang jadi negatif ni adalah kontrak untuk penghantaran Mei. WTI ni bersifat "physical delivery", kau order untuk Mei, minyak tu secara fizikal sampai kat kau selaku pemegang kontrak Mei.

Gila apa, time-time ni siapa nak pakai minyak. Stok minyak masih berlambak sebab hampir satu dunia masih dalam lockdown. Kereta tak leh jalan, kapal terbang tak leh terbang, nak buat masak pun tak boleh walaupun "sweet" konon.

Jadi, disebabkan kontrak untuk Mei 2020 akan expire pada esok waktu tempatan US (21 April 2020), orang just lepaskan kontrak tu tak kisah apa harga. Better rugi duit kontrak dari minyak tu hantar kat kilang kau. Sebab tu harga jatuh ke negatif.

Kalau Brent tak jadi macam tu sebab dia boleh "roll over", tak nak kontrak Mei boleh jual ganti dengan kontrak Jun. Sebab tu tak ada masalah yang sama.

Tapi harga kontrak WTI untuk Jun sebenarnya masih OK, masih di paras $20, dan akan naik selepas itu sebab minggu lepas negara OPEC (yang diketuai Saudi) dan bukan OPEC (seperti Rusia dan US) dah capai persetujuan potong bekalan sebanyak 9.7 juta tong sehari (10% daripada jumlah keluaran dunia) untuk bulan Mei dan Jun.

Harga minyak ditentukan oleh supply dan demand, kalau harga jatuh sebab demand jatuh, maka negara-negara pengeluar minyak volunteer untuk cut supply supaya naikkan harga balik.

Tapi apa pun, berita minyak negatif ni adalah good reminder bahawa "the era of oil is coming to an end".

Dan untuk tahun-tahun akan datang, "cheap oil" akan jadi "new normal".

Akan ada banyak syarikat-syarikat minyak kecil yang lingkup setahun dua ni dan dibeli oleh syarikat-syarikat besar.

Macam dulu pasaran minyak dikuasai oleh "Seven Sisters" (BP, Shell, SoCal, Gulf Oil, Texaco, Exxon, Mobil), selepas kejatuhan harga minyak 1980-an tinggal jadi Four Sisters saja: SoCal, Gulf Oil dan Texaco bergabung jadi Chevron (pemilik Caltex), Exxon dan Mobil bergabung jadi ExxonMobil (pemilik Esso).

Dulu harga minyak mahal sebab minyak dulu scarce resources. US sampai nak berperang dengan Iraq untuk dapatkan stok minyak. Now korang bagi minyak free kat US pun belum tentu diorang nak. Lambakan minyak tu yang jadi harga negatif tu.

Sejak zaman Obama (2009-2017), US mula menghasilkan shale oil untuk ganti pergantungan kepada minyak petroleum, dan sekarang US adalah pengeluar minyak terbesar di dunia. Shale oil ni punya supply almost limitless, tak macam petroleum sekali gali habis. So basically harga minyak tak akan kembali ke zaman kegemilangannya lagi.

Sebab tu Saudi semua kena longgarkan cara hidup konservatif diorang untuk tarik pelaburan asing.

Brunei pun mula kena berfikir pasal "diversification" (pempelbagaian) ekonomi. "Oil is a curse". Kebergantungan kepada minyak bukan saja lambatkan negara jadi negara industri jadi negarta maju, malah ia akan menggugat kelangsungan hidup negara di zaman new normal.

Posted by uniteen > 2020-04-22 10:06 | Report Abuse

how come this share drop so much and can't rise again? even though owned by PNB, also fairing so badly.

Posted by StockHunter77 > 2020-04-23 11:13 | Report Abuse

Is this stock good for long term. May i know what will be the TP. Im in dilemma whether fo invest here or MMC Corp? Honeest advice pls

Posted by Erudite > 2020-04-26 22:07 | Report Abuse

Tis one better than mmc bisnes not affected by mco as much plus recurring revenue

Posted by john1 > 2020-04-30 22:10 | Report Abuse

Undervalue company

Posted by john1 > 2020-04-30 22:10 | Report Abuse

KUALA LUMPUR (April 30): Fitch Ratings has affirmed Malaysian Reinsurance Bhd’s (Malaysian Re) Insurer Financial Strength (IFS) rating of ‘A’ (strong), with a Stable Outlook.

MNRB Holdings Bhd, which owns Malaysian Re, said the ratings are based on Fitch's current assessment of the impact of Covid-19 including its economic impact, under a set of Fitch’s ratings assumptions.

In its note, Fitch had said the ratings reflect Malaysian Re’s ‘very strong’ capital buffer and consistent profitability.

“It also takes into account its 'Moderate' business profile and challenges in managing potential volatility in underwriting performance, especially from its overseas business,” the note said.

Fitch pointed to Malaysian Re’s regulatory risk-based capital (RBC) ratio, which was well above the regulatory minimum of 130% at end-2019.

“Fitch expects the pandemic-driven economic downturn to dampen the pro forma profitability ratio to below the median range for an 'a' rating category under our rating assumptions,” it added.

“Nonetheless, we believe that Malaysian Re's fundamental operating profile will remain intact and its operating performance will normalise, after the pandemic runs its course,” it said.

On Malaysian Re’s business profile, Fitch said it is ‘moderate’, compared with its reinsurance peers.

“It has an established substantive domestic business franchise, although this is balanced by its 'Least Favourable' operating scale and somewhat geographically diversified business, compared with global peers,” the ratings agency.

“The agency therefore scores Malaysian Re's business profile at 'bbb+' under its credit factor scoring guidelines.

“Fitch expects Malaysian Re's market franchise to be sustainable, underpinned by its strong branding and continued support from local cedants, as part of a regulated cession arrangement,” it added.

Posted by LiimInvest > 2020-05-01 07:08 | Report Abuse

Fitch affirms ‘A’ rating of Malaysian Reinsurance - http://www.theedgemarkets.com/article/fitch-affirms-rating-malaysian-reinsurance (Share from StockHunter)

Posted by LiimInvest > 2020-05-01 07:08 | Report Abuse

Accumulate more

Posted by NiagaUntOngSelalu > 2020-05-02 09:04 | Report Abuse

Agree.

Posted by john1 > 2020-05-05 12:41 | Report Abuse

Maybe more % dividend + any bonus shares will change the fate of hidden gems

Posted by sostupid > 2020-05-12 16:26 | Report Abuse

Nurturing talent at Malaysia's largest fund manager
PNB chief people and culture officer Norlida Abdul Azmi said in a multi-generational workforce such as PNB, the key to drive effectiveness is to capitalise on the strengths of each generation and ensure harmonious and effective ways of working.

They have some solid investments that were done years years years ago, what good things have they done in the last five years, now they are bragging about past achievements that are not their own credits and pruning pretty cccccc's!

Posted by kl_guy > 2020-05-17 11:39 | Report Abuse

what is estimate eps for next quarter result? anyone got any idea?

Posted by Ravindran Raja Rathanam > 2020-05-17 12:38 | Report Abuse

Is this counter cheap enough to buy?

Posted by SDNBHD > 2020-05-18 14:07 | Report Abuse

just buy and keep. this is a gem. if u can hold im sure it will become RM2 in one day

Posted by ethan > 2020-05-18 16:42 | Report Abuse

buy buy buy !!

Posted by Ravindran Raja Rathanam > 2020-05-18 17:41 | Report Abuse

But i can see that MNRB has a huge debt. I think this is holding MNRB frm moving further

Posted by bhullar_1972 > 2020-05-20 12:14 | Report Abuse

This counter is abnormally undervalued. It should benefit from MCO...less cars on the road = less insurance claims....hmmm maybe there is some bad news coming up? else insiders would have snapped up this share at 68sen which is trading around 30% discount from its rights issue of 90sen. Lets see its quarterly result at the end of this month..

Posted by EngineeringProfit > 2020-05-20 12:14 | Report Abuse

Time to collect again

Posted by Invest_888 > 2020-05-21 12:19 | Report Abuse

Bought this stock due to strong FITCH rating "A". Moreover, Malaysia takaful still grows steadily. Hope can hit 90 cent.

Posted by sostupid > 2020-05-22 09:41 | Report Abuse

trading below price offered for rights share of 90 cent. how can this happen? Only for pnb?

Posted by SDNBHD > 2020-05-22 11:35 | Report Abuse

this stock need alot of patience. if one cant wait then dont invest this counter. Long term with huge upsides.

Posted by Activetrader > 2020-05-22 13:35 | Report Abuse

Value_invest got this news also no use sighhh... u see the price back to 695/700 damn slow to move up then drop very quick.... fed up

Posted by Activetrader > 2020-05-28 19:32 | Report Abuse

Report will only out tmr, mnrb always like to announce in last day

Posted by alibiii > 2020-06-02 09:38 | Report Abuse

why no report out one?

Posted by SDNBHD > 2020-06-02 09:59 | Report Abuse

extended i guess but they never make bursa announcement for the extension like other companies.

Posted by urfather > 2020-06-02 10:06 | Report Abuse

https://www.bursamalaysia.com/about_bursa/media_centre/bursa-malaysia-announces-additional-relief-measures-to-alleviate-the-impact-of-covid-19-on-capital-market-players

Posted by LiimInvest > 2020-06-03 22:53 | Report Abuse

Bank and insurance counter up up

Posted by SureHuat > 2020-06-04 19:22 | Report Abuse

A super undervalue share, please go up....... fly fast

Posted by LiimInvest > 2020-06-04 23:45 | Report Abuse

If QR good, will fly

Posted by himbaan > 2020-06-06 16:10 | Report Abuse

went is next the QR announcement?

Posted by Jeffreyteck > 2020-06-11 15:31 | Report Abuse

Est may book loss due to huge portfolio revaluation as of Mar during plummeted time.

Posted by stockraider > 2020-06-13 14:00 | Report Abuse

Another sohai talk by Philip loh...!!

The bets is for bet on 1 year and 2 year performance in respect of QL v Insas v MNRB mah....!!

Whoever losses buy bah kut teh lunch....mah....!!

But year 1 result already out.1st is insas 2nd is MNRB and last was QL.

Now year 2 QL appear is leading loh...!!

Question

1. Does Philip honor the year 1 result ??

2. How did 100 kids from st barnabas come into the picture of the bet leh ??

Of course if Philip is prepare to honor, he foot the bills taking into account QL was last in the 1st year....then by all means, if he like bring the 100 kids along loh...!!

Posted by Philip ( buy what you understand) > Jun 13, 2020 1:22 PM | Report Abuse

I think I have enough of your nonsense. I will be arranging for 100 kids from St. Barnabas Home to enjoy bak kut teh at the end of the year. The total expenditure will be RM5,000. The results will be revealed in our 2 year bet on QL versus Insas.

So, if at the end of the period, you do not attend the bak kut teh lunch, I fully expect you to donate 5K to the charity home of St. Barnabas in Klang.

QL - 0.69 (today 9.17)
Insas - 0.69 (today 0.63)

How is your margin of safety now after 2 long year? For SSLEE it will be more than 3 years of him holding unto INSAS with his corporate raider concepts.

Posted by Jeffreyteck > 2020-06-29 12:25 | Report Abuse

Will follow mbsb. QR should be very bad from its investment portfolio. TP 60.

Posted by solaris80 > 2020-06-29 19:24 | Report Abuse

Much much better than expected!!

Posted by amtheng > 2020-06-29 21:27 | Report Abuse

Undervalued price as compared to nta >3.00

Posted by solaris80 > 2020-06-29 22:06 | Report Abuse

Tp 2

Posted by LiimInvest > 2020-06-30 08:29 | Report Abuse

MNRB records 27% higher earnings for FY20 - http://www.theedgemarkets.com/article/mnrb-records-27-higher-earnings-fy20 (Share from StockHunter)

Posted by LiimInvest > 2020-06-30 08:31 | Report Abuse

KUALA LUMPUR (June 29): MNRB Holdings Bhd reported a 27.1% jump in net profit to RM132.66 million for the financial year ended March 31, 2020 (FY20) due to improved business performance.

Revenue grew to RM2.56 billion from RM2.40 billion in the previous year.

President and group chief executive officer Mohd Din Merican said its improved results were attributable to the robust performances of its operating subsidiaries, namely Malaysian Reinsurance Bhd (Malaysian Re), Takaful Ikhlas Family Bhd (Takaful IKHLAS Family) and Takaful Ikhlas General Bhd (Takaful IKHLAS General).

“FY20 saw Malaysian Re posting its highest net profit in five years. This was achieved despite operating in a challenging business environment in which Malaysian Re was affected by a series of large domestic fire losses and lower investment income,” he said in a statement today.

On the investment side, MNRB’s group net investment income increased 3.8% to RM360.7 million in FY20 from RM347.5 million previously, while its total assets stood at RM9.2 billion compared to RM8.7 billion in the previous financial year.

“The group’s investment income improved throughout the financial year, mainly due to the fair value gains in corporate and government bonds/sukuk.

“However, in the final quarter of the financial year, the group’s investment income was adversely affected by the volatility in the financial markets,” he said.

As for its subsidiary performance, Takaful IKHLAS recorded higher net investment income of RM261.4 million against FY19’s RM250.6 million.

Malaysian Re on the other hand, recorded lower net investment income of RM99.8 million in FY20 against the RM113.2 million previously due to a significant deterioration in the market value of equities.

“As we continue to operate our business under uncertain circumstances, we remain cautiously optimistic about establishing long-term growth for the group as a whole,” said Mohd Din.

MNRB is one of strategic companies under the portfolio of Malaysia's sovereign wealth fund Permodalan Nasional Bhd.

Posted by bhullar_1972 > 2020-06-30 09:40 | Report Abuse

hopefully will announce some dividend in Aug.

Posted by bhullar_1972 > 2020-06-30 15:30 | Report Abuse

at least another 4 sen dividend if payout at 40%....hope announce soon.

Posted by solaris80 > 2020-06-30 20:39 | Report Abuse

Positive operation cash flow has increased to 80 mil, cash on hand is 118 mil. Next dividend payout should be more than last 2.5cents.

Posted by solaris80 > 2020-06-30 20:52 | Report Abuse

Mnrb dividend policy is 40% to 75%, FY 20 EPS is 17 cents. As such, the dividend payout is ranging from 6.8cent to 12.75 cents. Based on current share price of RM0.725, the yield is 9.35 % to 17.35%. Unbelievable!

Posted by smartag > 2020-07-02 20:50 | Report Abuse

Will back to RM1 soon

Posted by EngineeringProfit > 2020-07-02 21:18 | Report Abuse

huat ar

Posted by solaris80 > 2020-07-03 09:44 | Report Abuse

Power!

Posted by smartag > 2020-07-03 09:55 | Report Abuse

Don't miss out, TP 1.20.

Posted by smartag > 2020-07-03 10:06 | Report Abuse

Fund manager started to buy this stock. Safe.

Posted by smartag > 2020-07-03 10:07 | Report Abuse

Last chance to buy below 0.80.

Posted by EngineeringProfit > 2020-07-03 10:52 | Report Abuse

HUUUUUUUUUUUUUUAAAAAAAAAAAAAAAAAT AAAAAAAAAAAARRRRRRRRRRR

lai....................lai..........................lai