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STMKB net profit jumps to RM80.95 mln in Q2
Last update: 25/07/2019

KUALA LUMPUR, July 25 (Bernama) -- Syarikat Takaful Malaysia Keluarga Bhd's (STMKB) net profit in the second quarter (Q2) ended June 30, 2019 jumped to RM80.95 million compared with RM50.42 million in the same quarter a year ago.

Revenue was higher at RM672.98 million from RM542.43 million, mainly due to higher sales generated by family takaful business.

Year to date, its net profit was stronger at RM177.4 million from RM120.4 million, while revenue stood at RM1.59 billion from RM1.29 billion, previously.

In a filing with Bursa Malaysia today, STMKB said family takaful business recorded gross earned contributions of RM464.6 million in Q2 compared with RM350.2 million previously on higher sales from credit-related products.

The segment also net benefits and claims of RM179.4 million, an increase of 6.0 per cent compared with the corresponding quarter of preceding year due to higher surrender and death claims.

Meanwhile, the company's g​​​eneral takaful business generated gross earned contributions of RM166.2 million compared with RM160.3 million, mainly contributed from fire and motor classes.

Its net benefits and claims, however, decreased by 24 per cent to RM45 million due to a decrease in claims relating to fire and motor classes.

STMKB's Indonesian operations, meanwhile, saw revenue increased five per cent to RM69.9 million, while its gross earned contribution up one per cent to RM58.8 million.

As at June 30, its total assets improved by RM904.3 million to RM9.84 billion, supported by higher investments, retakaful assets and loans, as well as receivables, including takaful receivables.

The company’s cash flow stood healthy and strong at RM658 million during the period.





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100 Yen3.9164/9222
Source: Bank Negara Malaysia

Reduction in the overnight policy rate (OPR) by Bank Negara Malaysia would be good for consumer spending and investment;
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