Price Target Changed • 8h
Price target increased by 7.1% to RM25.19 Up from RM23.52, the current price target is an average from 5 analysts. New target price is 20% above last closing price of RM21.04. Stock is up 10% over the past year. The company is forecast to post earnings per share of RM2.72 for next year compared to RM3.64 last year. Announcement • Jun 17
Allianz Malaysia Berhad Announces Appointment of Tan Sri Datuk Zainun Binti Ali as Independent and Non Executive Chairman of Audit Committee, Effective June 17, 2026 Allianz Malaysia Berhad announced that Tan Sri Datuk Zainun Binti Ali, aged 74, female, Malaysian, had been appointed as Chairman of Audit Committee, effective June 17, 2026. Tan Sri Datuk Zainun Binti Ali was designated as Independent and Non-Executive Director. The composition of the Audit Committee after the change comprised Tan Sri Datuk Zainun Binti Ali (Chairman), Peter Ho Kok Wai (Member), and Dr. Muhammed Bin Abdul Khalid (Member), all serving as Independent Non-Executive Directors. Reported Earnings • May 26
First quarter 2026 earnings released: EPS: RM1.23 (vs RM1.18 in 1Q 2025) First quarter 2026 results: EPS: RM1.23 (up from RM1.18 in 1Q 2025). Revenue: RM1.64b (up 6.5% from 1Q 2025). Net income: RM227.3m (up 6.7% from 1Q 2025). Profit margin: 14% (in line with 1Q 2025). Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 9.7% decline forecast for the Insurance industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 15% per year whereas the company’s share price has increased by 14% per year. Upcoming Dividend • May 18
Upcoming dividend of RM0.35 per share Eligible shareholders must have bought the stock before 25 May 2026. Payment date: 10 June 2026. Payout ratio is a comfortable 36% but the company is paying out more than the cash it is generating. Trailing yield: 7.1%. Within top quartile of Malaysian dividend payers (5.4%). Higher than average of industry peers (5.3%). Announcement • Apr 29
Allianz Malaysia Berhad, Annual General Meeting, Jun 16, 2026 Allianz Malaysia Berhad, Annual General Meeting, Jun 16, 2026, at 10:00 Singapore Standard Time. Location: main venue at grand ballroom, level 2, aloft kuala lumpur sentral, 5 jalan stesen sentral, kuala lumpur sentral, 50470 kuala lumpur, Malaysia Price Target Changed • Apr 28
Price target increased by 7.4% to RM23.52 Up from RM21.90, the current price target is an average from 5 analysts. New target price is 13% above last closing price of RM20.80. Stock is up 15% over the past year. The company is forecast to post earnings per share of RM2.76 for next year compared to RM3.64 last year. Price Target Changed • Mar 02
Price target increased by 7.9% to RM23.17 Up from RM21.47, the current price target is an average from 6 analysts. New target price is 5.7% above last closing price of RM21.92. Stock is up 19% over the past year. The company is forecast to post earnings per share of RM2.52 for next year compared to RM3.64 last year. New Risk • Mar 02
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.2% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 0.2% per year for the foreseeable future. High level of non-cash earnings (22% accrual ratio). Minor Risk Dividend is not well covered by cash flows (dividend per share is over 9x cash flows per share). Reported Earnings • Mar 02
Full year 2025 earnings released: EPS: RM3.64 (vs RM4.02 in FY 2024) Full year 2025 results: EPS: RM3.64. Revenue: RM6.66b (up 10% from FY 2024). Net income: RM958.8m (up 34% from FY 2024). Profit margin: 14% (up from 12% in FY 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.1% p.a. on average during the next 3 years, compared to a 6.7% decline forecast for the Insurance industry in Malaysia. Upcoming Dividend • Jan 27
Upcoming dividend of RM0.90 per share Eligible shareholders must have bought the stock before 03 February 2026. Payment date: 13 February 2026. Payout ratio is a comfortable 36% and this is well supported by cash flows. Trailing yield: 6.6%. Within top quartile of Malaysian dividend payers (5.4%). Higher than average of industry peers (5.2%). Upcoming Dividend • Jan 23
Upcoming dividend of RM0.90 per share Eligible shareholders must have bought the stock before 30 January 2026. Payment date: 13 February 2026. Payout ratio is a comfortable 36% and this is well supported by cash flows. Trailing yield: 6.7%. Within top quartile of Malaysian dividend payers (5.5%). Higher than average of industry peers (5.2%). Announcement • Nov 28
Allianz Malaysia Berhad Reports Unaudited Consolidated Statement Property, Plant and Equipment Written Off for the Third Quarter Ended September 30, 2025 Allianz Malaysia Berhad reported unaudited consolidated statement property, plant and equipment written off for the third quarter ended September 30, 2025. For the quarter, the company reported property, plant and equipment written off of MYR 66,000 as compared to MYR 222,000 a year ago. Reported Earnings • Nov 26
Third quarter 2025 earnings released: EPS: RM0.68 (vs RM1.03 in 3Q 2024) Third quarter 2025 results: EPS: RM0.68. Revenue: RM1.72b (up 5.9% from 3Q 2024). Net income: RM234.2m (up 28% from 3Q 2024). Profit margin: 14% (up from 11% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 6.1% decline forecast for the Insurance industry in Malaysia. Reported Earnings • Aug 26
Second quarter 2025 earnings released: EPS: RM0.50 (vs RM0.64 in 2Q 2024) Second quarter 2025 results: EPS: RM0.50 (down from RM0.64 in 2Q 2024). Revenue: RM1.67b (up 13% from 2Q 2024). Net income: RM89.3m (down 21% from 2Q 2024). Profit margin: 5.4% (down from 7.7% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.8% p.a. on average during the next 3 years, compared to a 6.9% decline forecast for the Insurance industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Announcement • Jun 25
Allianz Malaysia Berhad Approves Final Dividend for the Financial Year Ended 31 December 2024 Allianz Malaysia Berhad at its AGM held on June 25, 2025, approved the payment of a final dividend of 63.0 sen per ordinary share under single-tier system in respect of the financial year ended 31 December 2024. Upcoming Dividend • Jun 24
Upcoming dividend of RM0.63 per share Eligible shareholders must have bought the stock before 01 July 2025. Payment date: 16 July 2025. Payout ratio is a comfortable 15% and this is well supported by cash flows. Trailing yield: 4.7%. Lower than top quartile of Malaysian dividend payers (5.6%). In line with average of industry peers (4.9%). Reported Earnings • May 24
First quarter 2025 earnings released: EPS: RM1.18 (vs RM1.07 in 1Q 2024) First quarter 2025 results: EPS: RM1.18 (up from RM1.07 in 1Q 2024). Revenue: RM1.54b (up 13% from 1Q 2024). Net income: RM211.7m (up 12% from 1Q 2024). Profit margin: 14% (in line with 1Q 2024). Revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 6.7% decline forecast for the Insurance industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 18% per year whereas the company’s share price has increased by 14% per year. Announcement • May 03
Allianz Malaysia Berhad Proposes Final Dividend for the Financial Year Ended 31 December 2024, Payable on 16 July 2025 Allianz Malaysia Berhad proposed the final dividend of 63.0 sen per ordinary share under single-tier system for the financial year ended 31 December 2024 is subject to the shareholders' approval at the Company's 51st Annual General Meeting scheduled to be held on 25 June 2025. The above Company's securities will be traded and quoted "Ex - Dividend” as from: 01 July 2025. The last date of lodgment: 02 July 2025. 3) Date Payable: 16 July 2025. Announcement • Apr 29
Allianz Malaysia Berhad, Annual General Meeting, Jun 25, 2025 Allianz Malaysia Berhad, Annual General Meeting, Jun 25, 2025, at 10:00 Singapore Standard Time. Location: main venue at grand ballroom, level 2, aloft kuala lumpur sentral, 5 jalan stesen sentral, kuala lumpur sentral, 50470 kuala lumpur, Malaysia Price Target Changed • Apr 17
Price target decreased by 11% to RM21.24 Down from RM23.78, the current price target is an average from 4 analysts. New target price is 22% above last closing price of RM17.38. Stock is down 17% over the past year. The company is forecast to post earnings per share of RM2.27 for next year compared to RM4.01 last year. Reported Earnings • Mar 01
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: EPS: RM4.02 (up from RM2.97 in FY 2023). Revenue: RM6.06b (up 15% from FY 2023). Net income: RM770.7m (up 46% from FY 2023). Profit margin: 13% (up from 10% in FY 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 6.7%. Earnings per share (EPS) also surpassed analyst estimates by 2.7%. Revenue is forecast to stay flat during the next 2 years compared to a 3.0% decline forecast for the Insurance industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 17% per year whereas the company’s share price has increased by 14% per year. Announcement • Feb 28
Allianz Malaysia Berhad Announces the Appointment of Rosniza Binti Mohamed Ramli as Joint Secretary, Effective March 1, 2025 Allianz Malaysia Berhad announced the appointment of ROSNIZA BINTI MOHAMED RAMLI as Joint Secretary, effective March 1, 2025. Ms. Rosniza Binti Mohamed Ramli joined the Company Secretarial Department of Allianz Malaysia Berhad in February 2013. With over 21 years of experience in corporate secretarial practice, she has worked in both management firms and in-house secretarial roles. Announcement • Dec 17
Allianz Malaysia Berhad Announces Risk Management Committee Changes Allianz Malaysia Berhad announced the Following the Board's approval on the revised composition of Risk Management Committee ("RMC"), Mr. Peter Ho Kok Wai will relinquish his position as a Member of RMC on 31 December 2024 and Madam Foo Chee It will be appointed as a Member of RMC with effect from 1 January 2025. Age is 65. Composition of Risk Committee(Name and Directorate of members after change):- Lim Tuang Ooi (Chairman), Independent Non-Executive Director of Allianz General Insurance Company (Malaysia) Berhad ("AGIC"), wholly-owned subsidiary of Allianz Malaysia Berhad ("AMB"). Wee Lay Hua (Member), Independent Non-Executive Director of AGIC. Lim Fen Nee (Member), Independent Non-Executive Director of Allianz Life Insurance Malaysia Berhad ("ALIM"), wholly-owned subsidiary of AMB. Foo Chee It (Member), Independent Non-Executive Director of ALIM. Designation is Member of Risk Committee. Major Estimate Revision • Nov 29
Consensus EPS estimates fall by 17%, revenue upgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast increased from RM5.09b to RM5.30b. EPS estimate fell from RM2.63 to RM2.17 per share. Net income forecast to grow 45% next year vs 10% growth forecast for Insurance industry in Malaysia. Consensus price target broadly unchanged at RM24.19. Share price was steady at RM20.30 over the past week. Reported Earnings • Nov 23
Third quarter 2024 earnings released: EPS: RM1.03 (vs RM1.11 in 3Q 2023) Third quarter 2024 results: EPS: RM1.03 (down from RM1.11 in 3Q 2023). Revenue: RM1.63b (up 16% from 3Q 2023). Net income: RM183.2m (down 7.4% from 3Q 2023). Profit margin: 11% (down from 14% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 1.7% p.a. on average during the next 3 years, compared to a 5.7% decline forecast for the Insurance industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 15% per year whereas the company’s share price has increased by 17% per year. Reported Earnings • Aug 24
Second quarter 2024 earnings released: EPS: RM0.64 (vs RM0.58 in 2Q 2023) Second quarter 2024 results: EPS: RM0.64 (up from RM0.58 in 2Q 2023). Revenue: RM1.48b (up 18% from 2Q 2023). Net income: RM167.0m (up 62% from 2Q 2023). Profit margin: 11% (up from 8.2% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 1.6% growth forecast for the Insurance industry in Asia. Over the last 3 years on average, earnings per share has increased by 15% per year whereas the company’s share price has increased by 16% per year. Board Change • Aug 01
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Independent & Non Executive Director Fa'izah binti Mohamed Amin was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Price Target Changed • May 25
Price target increased by 17% to RM23.86 Up from RM20.46, the current price target is an average from 5 analysts. New target price is approximately in line with last closing price of RM22.92. Stock is up 65% over the past year. The company is forecast to post earnings per share of RM2.70 for next year compared to RM2.97 last year. Announcement • May 25
Allianz Malaysia Berhad Reports Write Offs of Property, Plant and Equipment for the Three Months Ended March 31, 2024 Allianz Malaysia Berhad reported write offs of property, plant and equipment for the three months ended March 31, 2024. For the quarter, the company reported Property, plant and equipment written off of MYR 236,000 against MYR 205,000 reported a year ago. Reported Earnings • May 24
First quarter 2024 earnings released: EPS: RM1.07 (vs RM0.97 in 1Q 2023) First quarter 2024 results: EPS: RM1.07 (up from RM0.97 in 1Q 2023). Revenue: RM1.37b (up 17% from 1Q 2023). Net income: RM189.8m (up 9.9% from 1Q 2023). Profit margin: 14% (in line with 1Q 2023). Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 2.6% decline forecast for the Insurance industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 20% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • May 21
Upcoming dividend of RM0.27 per share Eligible shareholders must have bought the stock before 28 May 2024. Payment date: 12 June 2024. Payout ratio is a comfortable 34% but the company is not cash flow positive. Trailing yield: 4.4%. Within top quartile of Malaysian dividend payers (4.3%). In line with average of industry peers (4.1%). Announcement • May 01
Allianz Malaysia Berhad, Annual General Meeting, Jun 20, 2024 Allianz Malaysia Berhad, Annual General Meeting, Jun 20, 2024, at 11:00 Singapore Standard Time. Location: Ballroom A, Level 2, Aloft Kuala Lumpur Sentral, 5 Jalan Stesen Sentral, Kuala Lumpur Sentral Kuala Lumpur Malaysia Agenda: To consider and approve the Audited Financial Statements for the financial year ended 31 December 2023; to consider and approve the payment of the following fees to the Non-Executive Directors; to consider and approve the election of Directors; to consider and approve the re-appointment of the PricewaterhouseCoopers PLT as Auditors of the Company; to consider and approve the Mandate for Recurrent Related Party Transactions; and to consider and approve any other matters. Major Estimate Revision • Mar 05
Consensus EPS estimates increase by 15%, revenue downgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast fell from RM5.67b to RM5.46b. EPS estimate rose from RM2.77 to RM3.20. Net income forecast to grow 44% next year vs 26% growth forecast for Insurance industry in Malaysia. Consensus price target up from RM18.54 to RM19.02. Share price was steady at RM18.90 over the past week. Reported Earnings • Feb 27
Full year 2023 earnings released: EPS: RM2.97 (vs RM1.69 in FY 2022) Full year 2023 results: EPS: RM2.97 (up from RM1.69 in FY 2022). Revenue: RM5.25b (down 14% from FY 2022). Net income: RM730.9m (up 143% from FY 2022). Profit margin: 14% (up from 4.9% in FY 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 5.9% p.a. on average during the next 3 years, compared to a 3.7% decline forecast for the Insurance industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 12% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Jan 16
Upcoming dividend of RM0.69 per share at 5.0% yield Eligible shareholders must have bought the stock before 23 January 2024. Payment date: 08 February 2024. Payout ratio is a comfortable 49% and this is well supported by cash flows. Trailing yield: 5.0%. Within top quartile of Malaysian dividend payers (4.9%). Higher than average of industry peers (4.4%). Announcement • Jan 11
Allianz Malaysia Berhad Announces Single Tier Interim Dividend for the Financial Year Ended 31 December 2023, Payable on 08 February 2024 Allianz Malaysia Berhad announced single tier interim dividend of 69.0 sen per ordinary share for the financial year ended 31 December 2023. The dividend will be Payable on 08 February 2024. The last date of lodgment of 24 January 2024. The securities will be traded and quoted "Ex - Dividend” as from 23 January 2024. Major Estimate Revision • Nov 30
Consensus EPS estimates fall by 20%, revenue upgraded The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast increased from RM5.24b to RM5.42b. EPS estimate fell from RM2.52 to RM2.01 per share. Net income forecast to grow 93% next year vs 3.0% growth forecast for Insurance industry in Malaysia. Consensus price target up from RM17.48 to RM18.54. Share price was steady at RM18.08 over the past week. New Risk • Nov 25
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 5.6% Last year net profit margin: 8.9% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (5.6% net profit margin). Reported Earnings • Nov 24
Third quarter 2023 earnings released: EPS: RM1.11 (vs RM0.61 in 3Q 2022) Third quarter 2023 results: EPS: RM1.11 (up from RM0.61 in 3Q 2022). Revenue: RM1.40b (down 8.7% from 3Q 2022). Net income: RM197.9m (up 82% from 3Q 2022). Profit margin: 14% (up from 7.1% in 3Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to stay flat during the next 3 years compared to a 1.6% decline forecast for the Insurance industry in Malaysia. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Major Estimate Revision • Oct 29
Consensus EPS estimates increase by 12%, revenue downgraded The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast fell from RM5.30b to RM5.24b. EPS estimate rose from RM2.26 to RM2.52. Net income forecast to grow 117% next year vs 4.5% growth forecast for Insurance industry in Malaysia. Consensus price target broadly unchanged at RM17.48. Share price was steady at RM15.86 over the past week. Major Estimate Revision • Aug 30
Consensus EPS estimates increase by 14% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate increased from RM1.99 to RM2.26. Revenue forecast unchanged at RM5.30b. Net income forecast to grow 108% next year vs 16% growth forecast for Insurance industry in Malaysia. Consensus price target up from RM16.01 to RM17.38. Share price was steady at RM16.40 over the past week. New Risk • Aug 24
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 4.6% Last year net profit margin: 7.9% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (4.6% net profit margin). Reported Earnings • Aug 24
Second quarter 2023 earnings released: EPS: RM0.58 (vs RM0.36 in 2Q 2022) Second quarter 2023 results: EPS: RM0.58 (up from RM0.36 in 2Q 2022). Revenue: RM1.37b (up 19% from 2Q 2022). Net income: RM166.7m (up 159% from 2Q 2022). Profit margin: 12% (up from 5.6% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to stay flat during the next 3 years compared to a 1.3% decline forecast for the Insurance industry in Malaysia. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Upcoming Dividend • Jun 07
Upcoming dividend of RM0.32 per share at 5.8% yield Eligible shareholders must have bought the stock before 14 June 2023. Payment date: 28 June 2023. Payout ratio is a comfortable 47% and this is well supported by cash flows. Trailing yield: 5.8%. Within top quartile of Malaysian dividend payers (5.4%). Higher than average of industry peers (5.2%). Announcement • Jun 01
Allianz Malaysia Berhad Announces First Single Tier Interim Dividend for the Financial Year Ending December 31, 2023, Payable on 28 June 2023 Allianz Malaysia Berhad announced first single tier interim dividend of 31.5 sen per ordinary share for the financial year ending December 31, 2023. Ex-date is 14 June 2023. Entitlement date is 15 June 2023. Payment date is 28 June 2023. Reported Earnings • May 30
First quarter 2023 earnings released: EPS: RM0.97 (vs RM0.57 in 1Q 2022) First quarter 2023 results: EPS: RM0.97 (up from RM0.57 in 1Q 2022). Revenue: RM1.43b (down 3.8% from 1Q 2022). Net income: RM172.7m (up 70% from 1Q 2022). Profit margin: 12% (up from 6.8% in 1Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 2.4% p.a. on average during the next 3 years, compared to a 1.8% decline forecast for the Insurance industry in Malaysia. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Reported Earnings • Feb 24
Full year 2022 earnings released: EPS: RM1.69 (vs RM1.98 in FY 2021) Full year 2022 results: EPS: RM1.69. Revenue: RM6.17b (up 8.7% from FY 2021). Net income: RM472.8m (up 35% from FY 2021). Profit margin: 7.7% (up from 6.2% in FY 2021). The increase in margin was driven by higher revenue. Revenue is forecast to stay flat during the next 3 years compared to a 5.1% growth forecast for the Insurance industry in Asia. Upcoming Dividend • Jan 18
Upcoming dividend of RM0.69 per share Eligible shareholders must have bought the stock before 25 January 2023. Payment date: 17 February 2023. Trailing yield: 1.1%. Lower than top quartile of Malaysian dividend payers (5.0%). Lower than average of industry peers (4.0%). Major Estimate Revision • Nov 30
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate fell from RM1.28 to RM1.12. Revenue forecast unchanged from RM5.59b at last update. Net income forecast to grow 56% next year vs 29% growth forecast for Insurance industry in Malaysia. Consensus price target broadly unchanged at RM15.75. Share price rose 3.0% to RM13.70 over the past week. Reported Earnings • Nov 24
Third quarter 2022 earnings released: EPS: RM0.61 (vs RM0.65 in 3Q 2021) Third quarter 2022 results: EPS: RM0.61 (down from RM0.65 in 3Q 2021). Revenue: RM1.57b (up 4.6% from 3Q 2021). Net income: RM108.6m (down 5.7% from 3Q 2021). Profit margin: 6.9% (down from 7.7% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Insurance industry in Asia. Over the last 3 years on average, earnings per share has fallen by 5% per year whereas the company’s share price has fallen by 3% per year. Board Change • Nov 16
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Non-Executive Director Muhammed Bin Abdul Khalid was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 26
Second quarter 2022 earnings released: EPS: RM0.36 (vs RM0.82 in 2Q 2021) Second quarter 2022 results: EPS: RM0.36 (down from RM0.82 in 2Q 2021). Revenue: RM1.18b (down 22% from 2Q 2021). Net income: RM64.3m (down 56% from 2Q 2021). Profit margin: 5.5% (down from 9.6% in 2Q 2021). The decrease in margin was driven by lower revenue. Over the next year, revenue is forecast to grow 1.1% compared to a 38% decline forecast for the Insurance industry in Malaysia. Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has fallen by 4% per year. Upcoming Dividend • Jul 11
Upcoming dividend of RM0.16 per share Eligible shareholders must have bought the stock before 18 July 2022. Payment date: 05 August 2022. Payout ratio is a comfortable 29% and the cash payout ratio is 79%. Trailing yield: 4.9%. Lower than top quartile of Malaysian dividend payers (5.0%). In line with average of industry peers (5.1%). Reported Earnings • May 22
First quarter 2022 earnings: Revenues exceed analyst expectations First quarter 2022 results: Net income: RM101.3m (up 60% from 1Q 2021). Revenue exceeded analyst estimates by 2.5%. Board Change • Apr 27
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Independent Non-Executive Director Susie Wee was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Board Change • Apr 02
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Non Independent & Non Executive Director Anusha Thavarajah was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Major Estimate Revision • Mar 01
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast increased from RM5.41b to RM5.59b. EPS estimate fell from RM1.45 to RM1.26 per share. Net income forecast to grow 35% next year vs 4.0% growth forecast for Insurance industry in Malaysia. Consensus price target broadly unchanged at RM16.39. Share price was steady at RM12.68 over the past week. Reported Earnings • Feb 23
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: EPS: RM1.98 (down from RM2.28 in FY 2020). Revenue: RM5.72b (flat on FY 2020). Net income: RM478.5m (up 19% from FY 2020). Profit margin: 8.4% (up from 7.1% in FY 2020). Revenue exceeded analyst estimates by 2.5%. Earnings per share (EPS) missed analyst estimates by 2.5%. Over the next year, revenue is expected to shrink by 4.4% compared to a 20% decline forecast for the insurance industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Upcoming Dividend • Jan 20
Upcoming dividend of RM0.63 per share Eligible shareholders must have bought the stock before 27 January 2022. Payment date: 18 February 2022. Payout ratio is a comfortable 32% and this is well supported by cash flows. Trailing yield: 4.8%. Within top quartile of Malaysian dividend payers (4.5%). In line with average of industry peers (4.7%). Reported Earnings • Nov 25
Third quarter 2021 earnings: EPS and revenues exceed analyst expectations Third quarter 2021 results: EPS: RM0.65 (down from RM0.73 in 3Q 2020). Revenue: RM1.51b (down 6.1% from 3Q 2020). Net income: RM115.2m (down 11% from 3Q 2020). Profit margin: 7.6% (down from 8.0% in 3Q 2020). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 5.6%. Earnings per share (EPS) also surpassed analyst estimates by 9.6%. Earnings per share (EPS) surpassed analyst estimates by 9.6%. Over the next year, revenue is expected to shrink by 6.3% compared to a 22% decline forecast for the industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 1% per year. Reported Earnings • Aug 26
Second quarter 2021 earnings released: EPS RM0.82 (vs RM0.95 in 2Q 2020) The company reported a poor second quarter result with weaker earnings and revenues, although profit margins were flat. Second quarter 2021 results: Revenue: RM1.52b (down 9.7% from 2Q 2020). Net income: RM145.4m (down 13% from 2Q 2020). Profit margin: 9.5% (in line with 2Q 2020). Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Reported Earnings • May 21
First quarter 2021 earnings released: EPS RM0.36 (vs RM0.45 in 1Q 2020) The company reported a mediocre first quarter result with weaker earnings and profit margins, although revenues improved. First quarter 2021 results: Revenue: RM1.16b (up 36% from 1Q 2020). Net income: RM63.3m (down 20% from 1Q 2020). Profit margin: 5.4% (down from 9.3% in 1Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Reported Earnings • Feb 27
Full year 2020 earnings released: EPS RM2.28 (vs RM2.04 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: RM5.68b (up 2.0% from FY 2019). Net income: RM402.5m (up 12% from FY 2019). Profit margin: 7.1% (up from 6.5% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jan 18
Upcoming Dividend of RM0.58 Per Share Will be paid on the 18th of February to those who are registered shareholders by the 25th of January. The trailing yield of 4.0% is below the top quartile of Malaysian dividend payers (4.3%), but it is higher than industry peers (3.1%). Is New 90 Day High Low • Dec 12
New 90-day high: RM14.50 The company is up 6.0% from its price of RM13.68 on 11 September 2020. The Malaysian market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Insurance industry, which is up 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is RM27.40 per share. Reported Earnings • Nov 27
Third quarter 2020 earnings released: EPS RM0.73 The company reported a soft third quarter result with weaker earnings and profit margins, although revenues were improved. Third quarter 2020 results: Revenue: RM1.61b (up 16% from 3Q 2019). Net income: RM129.1m (down 9.6% from 3Q 2019). Profit margin: 8.0% (down from 10% in 3Q 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Is New 90 Day High Low • Nov 17
New 90-day high: RM14.10 The company is up 7.0% from its price of RM13.12 on 19 August 2020. The Malaysian market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Insurance industry, which is up 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is RM22.72 per share.