Reported Earnings • Apr 30
First quarter 2026 earnings released: EPS: RM0.25 (vs RM0.25 in 1Q 2025) First quarter 2026 results: EPS: RM0.25 (up from RM0.25 in 1Q 2025). Revenue: RM533.6m (up 46% from 1Q 2025). Net income: RM99.5m (up 1.6% from 1Q 2025). Profit margin: 19% (down from 27% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.4% p.a. on average during the next 3 years, compared to a 9.6% decline forecast for the Insurance industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 7% per year. Announcement • Feb 26
LPI Capital Bhd, Annual General Meeting, Apr 08, 2026 LPI Capital Bhd, Annual General Meeting, Apr 08, 2026, at 10:00 Singapore Standard Time. Buy Or Sell Opportunity • Feb 26
Now 21% undervalued Over the last 90 days, the stock has risen 5.4% to RM15.30. The fair value is estimated to be RM19.30, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 14%. For the next 3 years, revenue is forecast to grow by 16% per annum. Earnings are also forecast to grow by 10% per annum over the same time period. Reported Earnings • Feb 25
Full year 2025 earnings released: EPS: RM0.92 (vs RM0.95 in FY 2024) Full year 2025 results: EPS: RM0.92 (down from RM0.95 in FY 2024). Revenue: RM2.09b (up 11% from FY 2024). Net income: RM367.8m (down 2.5% from FY 2024). Profit margin: 18% (down from 20% in FY 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 8.7% decline forecast for the Insurance industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Jan 05
Now 20% undervalued Over the last 90 days, the stock has risen 1.3% to RM14.58. The fair value is estimated to be RM18.30, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has grown by 15%. Revenue is forecast to grow by 15% in 2 years. Earnings are forecast to grow by 22% in the next 2 years. Reported Earnings • Oct 29
Third quarter 2025 earnings released: EPS: RM0.29 (vs RM0.31 in 3Q 2024) Third quarter 2025 results: EPS: RM0.29 (down from RM0.31 in 3Q 2024). Revenue: RM389.5m (up 5.8% from 3Q 2024). Net income: RM114.8m (down 7.3% from 3Q 2024). Profit margin: 30% (down from 34% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.2% 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 but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 19
Second quarter 2025 earnings released: EPS: RM0.21 (vs RM0.20 in 2Q 2024) Second quarter 2025 results: EPS: RM0.21 (up from RM0.20 in 2Q 2024). Revenue: RM509.4m (up 61% from 2Q 2024). Net income: RM83.2m (up 6.6% from 2Q 2024). Profit margin: 16% (down from 25% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.9% 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 14% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 01
First quarter 2025 earnings released: EPS: RM0.25 (vs RM0.25 in 1Q 2024) First quarter 2025 results: EPS: RM0.25 (down from RM0.25 in 1Q 2024). Revenue: RM512.4m (up 38% from 1Q 2024). Net income: RM98.0m (down 3.3% from 1Q 2024). Profit margin: 19% (down from 27% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 6.8% decline forecast for the Insurance industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Mar 13
Now 20% undervalued Over the last 90 days, the stock has risen 1.6% to RM12.92. The fair value is estimated to be RM16.25, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.5% over the last 3 years. Earnings per share has grown by 7.5%. For the next 3 years, revenue is forecast to grow by 5.2% per annum. Earnings are also forecast to grow by 6.0% per annum over the same time period. Upcoming Dividend • Mar 06
Upcoming dividend of RM0.50 per share Eligible shareholders must have bought the stock before 13 March 2025. Payment date: 25 March 2025. Payout ratio is on the higher end at 85%, and the cash payout ratio is above 100%. Trailing yield: 5.8%. Within top quartile of Malaysian dividend payers (5.6%). Higher than average of industry peers (5.0%). Announcement • Feb 27
LPI Capital Bhd, Annual General Meeting, Apr 29, 2025 LPI Capital Bhd, Annual General Meeting, Apr 29, 2025, at 10:00 Singapore Standard Time. Declared Dividend • Feb 17
Final dividend increased to RM0.50 Dividend of RM0.50 is 25% higher than last year. Ex-date: 13th March 2025 Payment date: 25th March 2025 Dividend yield will be 5.8%, which is higher than the industry average of 4.5%. Sustainability & Growth Dividend is covered by earnings (85% earnings payout ratio) but not covered by cash flows (251% cash payout ratio). The dividend has increased by an average of 7.2% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 20% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 15
Full year 2024 earnings released: EPS: RM0.95 (vs RM0.79 in FY 2023) Full year 2024 results: EPS: RM0.95 (up from RM0.79 in FY 2023). Revenue: RM1.89b (up 47% from FY 2023). Net income: RM377.1m (up 20% from FY 2023). Profit margin: 20% (down from 24% in FY 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.3% p.a. on average during the next 2 years, compared to a 4.3% decline forecast for the Insurance industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Announcement • Jan 24
LPI Capital Bhd Appoints Ng Seng Khin as Chief Financial Officer LPI Capital Bhd announced the appointment of Mr. Ng Seng Khin as Chief Financial Officer. Date of change is 24 January 2025. Age is 52. Working experience and occupation: Mr. Ng Seng Khin has more than 27 years of experience in auditing, finance and accounting, in which more than 23 years in the insurance industry. He started his career in an audit firm in 1997 as an External Auditor and left in 2000. After leaving the audit firm, he joined Habib Jewels Sdn Bhd as Assistant Accountant until 2001. Mr. Ng stepped into the insurance industry by joining RHB Insurance Bhd in 2001 as Assistant Manager in Finance Department and left as Senior Finance Manager in 2011. After leaving RHB Insurance Bhd, he joined the Company's wholly-owned subsidiary, Lonpac Insurance Bhd (Lonpac) as Senior Manager in Accounts & Finance Department. He was appointed as Chief Finance Officer of Lonpac on 1 January 2019. Mr. Ng is a Chartered Accountant as a member of Malaysian Institute of Accountants (MIA). Qualifications: Professional Qualification in Chartered Accountant from Malaysian Institute of Accountants (MIA); Degree in Bachelor of Accounting from Universiti Utara Malaysia (Northern University of Malaysia). Announcement • Dec 05
Public Bank Berhad (KLSE:PBBANK) completed the acquisition of 44.15% stake in LPI Capital Bhd (KLSE:LPI) from Consolidated Teh Holdings Sdn Berhad and Estate of the Late Tan Sri Dato' Sri Dr. Teh Hong Piow. Public Bank Berhad (KLSE:PBBANK) signed a Conditional sale and purchase agreement to acquire 44.15% stake in LPI Capital Bhd (KLSE:LPI) from Consolidated Teh Holdings Sdn Berhad and Estate of the Late Tan Sri Dato' Sri Dr. Teh Hong Piow for approximately MYR 1.7 billion on October 10, 2024. As part of consideration, a total cash of MYR 1.72 billion or MYR 9.80 per Sale Share in relation to the Proposed Acquisition is paid towards 175,896,000 LPI Shares, representing 44.15% equity interest of LPI Capital Bhd. The Purchase Consideration was arrived at on a willing-buyer willing-seller basis. Upon completion, Public Bank Berhad intends to maintain the listing status of LPI on the Main Market of Bursa Securities.
The transaction is subject to approval by Bank Negara Malaysia and Ministry of Finance, Malaysia, which were obtained via Bank Negara Malaysia's letter dated 29 August 2024, approval of offer by acquirer shareholders and the approval/consent of relevant authorities and 3rd parties (including financiers) for the transfer of the Sale Shares by the Vendors to the Purchaser. The Board having considered all aspects of the Proposals, including the rationale and benefits, the salient terms of the SPA, the basis and justification of arriving at the Purchase Consideration, and the future prospects of the enlarged PBB Group, is of the opinion that the Proposals are in the best interest of our Group. Accordingly, the Board recommends that you vote in favour of the resolution pertaining to the Proposals to be tabled at the forthcoming EGM. In a related transaction, on the SPA becoming unconditional, PBB Group will be obliged to extend a conditional MGO to acquire the Offer Shares at the Offer Price of RM9.80 per Offer Share. The Proposed Mandatory General Offer will also be extended to PACs, as allowed under the Rules. The Proposed Acquisition and Proposed MGO will be funded via internally generated funds. The Audit Committee of Public Bank Berhad, after having considered all aspects of the Proposals, including but not limited to the rationale and benefits, the terms of the SPA as well as the evaluation of the Independent Adviser is in the best interest of our Group; fair, reasonable and on normal commercial terms; and detrimental to the interest of the Non-Interested Shareholders of PBB. The transaction is expected to complete this corporate exercise in the 1st quarter of 2025. As of December 2, 2024, Public Bank Berhad bought 175,896,000 existing LPI Shares, pursuant to the SPA.
Public Investment Bank Berhad acted as financial advisor; AmInvestment Bank Berhad acted as independent financial advisor and fairness opinion provider. Tricor Investor & Issuing House Services Sdn Bhd acted as registrar for Public Bank Berhad.
Public Bank Berhad (KLSE:PBBANK) completed the acquisition of 44.15% stake in LPI Capital Bhd (KLSE:LPI) from Consolidated Teh Holdings Sdn Berhad and Estate of the Late Tan Sri Dato' Sri Dr. Teh Hong Piow on December 4, 2024. Following the completion of the Acquisition, Public Bank Berhad’s shareholdings in LPI has increased from nil to 175,896,000 LPI Shares, representing approximately 44.15% of the total issued shares of LPI. The Acquisition has been completed following the crediting of the Sale Shares into the Purchaser’s securities account. Reported Earnings • Oct 30
Third quarter 2024 earnings released: EPS: RM0.31 (vs RM0.25 in 3Q 2023) Third quarter 2024 results: EPS: RM0.31 (up from RM0.25 in 3Q 2023). Revenue: RM383.1m (up 10% from 3Q 2023). Net income: RM123.9m (up 27% from 3Q 2023). Profit margin: 32% (up from 28% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 5.9% decline forecast for the Insurance industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has fallen by 1% per year. Announcement • Oct 28
LPI Capital Bhd Announces Redesignation of Encik Mohamed Raslan Bin Abdul Rahman as Chairman of Audit Committee LPI Capital Bhd announced redesignation of Encik Mohamed Raslan Bin Abdul Rahman, age 61, from Independent Non Executive Member of Audit Committee to Chairman of Audit Committee, effective October 28, 2024. Composition of Audit Committee (Name and Directorate of members after change) (1) Encik Mohamed Raslan Bin Abdul Rahman (Chairman, Independent Non-Executive Director) (2) Mr. Lee Chin Guan (Member, Non-Independent Non-Executive Director)(3) Ms. Soo Chow Lai (Member, Independent Non-Executive Director)(4) Dato' Chia Lee Kee (Member, Independent Non-Executive Director). Announcement • Oct 08
LPI Capital Bhd Announces Redesignation of Lee Chin Guan from Independent and Non Executive Director to Non Independent and Non Executive Director LPI Capital Bhd announced redesignation of Mr. Lee Chin Guan, age 65, from Independent director to Non Independent director, effective October 8, 2024. Directorate: Non Independent and Non Executive. Qualifications include: Degree- Juris Doctor, Chicago-Kent College of Law, USA. Bachelor of Civil Law (Class II), University of Oxford, Christ Church College, England. Master of Law (Class I), University of Cambridge, Clare Hall, England. Bachelor of Science in Management Sciences (Second Upper with Honours), University of Manchester Institute of Science and Technology, England. Diploma in Law (Distinction), The City University, England. Bar Finals Professional Middle Temple, England. Mr. Lee has 25 years of experience in legal matters, with 13 years of experience in legal practice, principally in commercial and corporate matters. Mr. Lee Chin Guan re-designated from Independent Non-Executive Director to Non-Independent Non-Executive Director with effect from 8 October 2024 upon reaching the maximum 9 years tenure as Independent Non-Executive Director. Price Target Changed • Aug 23
Price target increased by 16% to RM15.60 Up from RM13.45, the current price target is an average from 4 analysts. New target price is 17% above last closing price of RM13.32. Stock is up 12% over the past year. The company is forecast to post earnings per share of RM0.96 for next year compared to RM0.79 last year. Reported Earnings • Aug 22
Second quarter 2024 earnings released: EPS: RM0.20 (vs RM0.16 in 2Q 2023) Second quarter 2024 results: EPS: RM0.20 (up from RM0.16 in 2Q 2023). Revenue: RM457.8m (down 45% from 2Q 2023). Net income: RM78.0m (up 22% from 2Q 2023). Profit margin: 17% (up from 7.7% in 2Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 24% p.a. on average during the next 3 years, compared to a 1.5% growth forecast for the Insurance industry in Asia. Over the last 3 years on average, earnings per share has fallen by 3% per year whereas the company’s share price has fallen by 1% per year. Announcement • Aug 21
LPI Capital Bhd Announces First Interim Single Tier Dividend for the Year Ended December 31, 2024, Payable on 13 September 2024 LPI Capital Bhd announced First Interim Single Tier dividend of 30.0 sen per ordinary share for the year ended December 31, 2024. The dividend will be payable on 13 September 2024. Ex-date is 4 September 2024. Announcement • Jun 29
LPI Capital Bhd Announces Retirement of Chan Kwai Hoe as Member of Audit Committee LPI Capital Bhd announced the retirement of Miss Chan Kwai Hoe, age 68 years, as Member of Audit Committee. Date of change is 30 June 2024. Directorate is Independent and Non Executive. Composition of Audit Committee (Name and Directorate of members after change): Mr. Lee Chin Guan (Chairman, Independent Non-Executive Director), Ms. Soo Chow Lai (Member, Independent Non-Executive Director), Dato' Chia Lee Kee (Member, Independent Non-Executive Director), and Encik Mohamed Raslan Bin Abdul Rahman (Member, Independent Non-Executive Director). Announcement • Jun 28
LPI Capital Bhd Announces the Retirement of Miss Chan Kwai Hoe as Independent and Non Executive Director, Effective 30 June 2024 LPI Capital Bhd announced the retirement of Miss Chan Kwai Hoe as Independent and Non Executive Director. Date of change is 30 June 2024. Age is 68. Reported Earnings • Apr 30
First quarter 2024 earnings released: EPS: RM0.25 (vs RM0.18 in 1Q 2023) First quarter 2024 results: EPS: RM0.25 (up from RM0.18 in 1Q 2023). Revenue: RM466.8m (up 350% from 1Q 2023). Net income: RM101.3m (up 37% from 1Q 2023). Profit margin: 22% (down from 71% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 2.6% growth forecast for the Insurance industry in Malaysia. 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 4% per year. Upcoming Dividend • Mar 04
Upcoming dividend of RM0.40 per share Eligible shareholders must have bought the stock before 11 March 2024. Payment date: 20 March 2024. Payout ratio is on the higher end at 84% but the company is not cash flow positive. Trailing yield: 5.2%. Within top quartile of Malaysian dividend payers (4.8%). Higher than average of industry peers (4.6%). Announcement • Mar 01
LPI Capital Bhd Announces the Re-Designation of Tee Choon Yeow as Non-Independent and Non Executive from Independent Director LPI Capital Bhd announced the re-designation of Mr. Tee Choon Yeow, age 71, male, as Non-Independent and Non Executive from Independent Director. Qualifications: Bachelors Degree in Commerce from University of Canterbury, New Zealand. Professional Qualification: Chartered Accountant from Institute of Chartered Accountants, New Zealand. Professional Qualification: Chartered Accountant from Malaysian Institute of Accountants. Professional Qualification: Fellow of the CPA from CPA Australia. Mr. Tee joined the Company as an Accountant in 1980. He was the Chief Executive Officer/Executive Director of the Company until he retired in 2013 and thereafter served as a Non-Independent Non-Executive Director of the Company. Mr. Tee was re-designated as Independent Non-Executive Director with effect from 1 March 2015 and appointed as Co-Chairman of the Company on 8 July 2015. Mr. Tee was re-designated as Independent Non-Executive Chairman of the Company with effect from 19 January 2023. Mr. Tee Choon Yeow re-designated from Independent Non-Executive Chairman to Non-Independent Non-Executive Chairman with effect from 1 March 2024 upon reaching the maximum 9 years tenure as Independent Non-Executive Director. Reported Earnings • Feb 27
Full year 2023 earnings released: EPS: RM0.79 (vs RM0.69 in FY 2022) Full year 2023 results: EPS: RM0.79 (up from RM0.69 in FY 2022). Revenue: RM1.93b (up 61% from FY 2022). Net income: RM313.7m (up 13% from FY 2022). Profit margin: 16% (down from 23% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.5% 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 fallen by 6% per year whereas the company’s share price has fallen by 2% per year. Announcement • Feb 07
LPI Capital Bhd Announces Cessation of Tee Choon Yeow as Independent and Non Executive Member of Audit Committee LPI Capital Bhd announced that Mr. Tee Choon Yeow (Age 71 and Gender Male) ceased to be Independent and Non Executive Member of Audit Committee with effect from 7 February 2024. Composition of Audit Committee (Name and Directorate of members after change): Mr. Lee Chin Guan (Chairman, Independent Non-Executive Director); Ms. Chan Kwai Hoe (Member, Independent Non-Executive Director); Ms. Soo Chow Lai (Member, Independent Non-Executive Director); Dato' Chia Lee Kee (Member, Independent Non-Executive Director); Encik Mohamed Raslan Bin Abdul Rahman (Member, Independent Non-Executive Director). Board Change • Feb 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 4 highly experienced directors. Independent Non-Executive Director Lee Chia was the last director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Announcement • Dec 29
LPI Capital Bhd Announces Retirement of QUAH POH KEAT as Non Independent and Non Executive Director, Effective from January 01, 2024 LPI Capital Bhd Announced the Retirement of Mr. QUAH POH KEAT, age 71 as Non Independent and Non Executive Director. Date of change is on January 01, 2024. New Risk • Oct 25
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 26% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (26% accrual ratio). Minor Risks Dividend is not well covered by cash flows (148% cash payout ratio). Profit margins are more than 30% lower than last year (15% net profit margin). Reported Earnings • Oct 25
Third quarter 2023 earnings released: EPS: RM0.24 (vs RM0.19 in 3Q 2022) Third quarter 2023 results: EPS: RM0.24 (up from RM0.19 in 3Q 2022). Revenue: RM496.6m (up 60% from 3Q 2022). Net income: RM97.4m (up 30% from 3Q 2022). Profit margin: 20% (down from 24% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to decline by 1.4% p.a. on average during the next 3 years, while revenues in the Insurance industry in Malaysia are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Sep 04
Upcoming dividend of RM0.26 per share at 5.1% yield Eligible shareholders must have bought the stock before 11 September 2023. Payment date: 20 September 2023. Payout ratio and cash payout ratio are on the higher end at 82% and 77% respectively. Trailing yield: 5.1%. Lower than top quartile of Malaysian dividend payers (5.2%). In line with average of industry peers (4.8%). Announcement • Aug 27
LPI Capital Bhd Announces First Interim Single Tier Dividend for the Year Ended December 31, 2023, Payable on 20 September 2023 LPI Capital Bhd announced First Interim Single Tier dividend of 26.0 sen per ordinary share for the year ended December 31, 2023. The dividend will be payable on 20 September 2023. Ex-date is 11 September 2023. Reported Earnings • Aug 26
Second quarter 2023 earnings released: EPS: RM0.16 (vs RM0.13 in 2Q 2022) Second quarter 2023 results: EPS: RM0.16 (up from RM0.13 in 2Q 2022). Revenue: RM92.5m (up 18% from 2Q 2022). Net income: RM63.9m (up 20% from 2Q 2022). Profit margin: 69% (in line with 2Q 2022). Revenue is forecast to grow 11% p.a. on average 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 7% per year whereas the company’s share price has fallen by 5% per year. Reported Earnings • Apr 21
First quarter 2023 earnings released: EPS: RM0.18 (vs RM0.15 in 1Q 2022) First quarter 2023 results: EPS: RM0.18 (up from RM0.15 in 1Q 2022). Revenue: RM103.7m (down 63% from 1Q 2022). Net income: RM73.8m (up 20% from 1Q 2022). Profit margin: 71% (up from 22% in 1Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 7.9% p.a. on average during the next 3 years, while revenues in the Insurance industry in Malaysia are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 6% per year whereas the company’s share price has fallen by 2% per year. Upcoming Dividend • Feb 14
Upcoming dividend of RM0.35 per share at 4.6% yield Eligible shareholders must have bought the stock before 21 February 2023. Payment date: 02 March 2023. Payout ratio is on the higher end at 86%, however this is supported by cash flows. Trailing yield: 4.6%. Lower than top quartile of Malaysian dividend payers (5.0%). In line with average of industry peers (4.7%). Announcement • Feb 08
LPI Capital Bhd Announces Second Interim Single Tier Dividend for the Financial Year Ended 31 December 2022, Payable on 02 March 2023 LPI Capital Bhd announced Second Interim Single Tier Dividend of 35.0 sen per ordinary share for the financial year ended 31 December 2022. The dividend will payable on 02 March 2023 with entitlement date of 22 February 2023 and ex-date is 21 February 2023. Reported Earnings • Feb 08
Full year 2022 earnings released: EPS: RM0.69 (vs RM0.86 in FY 2021) Full year 2022 results: EPS: RM0.69 (down from RM0.86 in FY 2021). Revenue: RM1.21b (down 1.7% from FY 2021). Net income: RM276.6m (down 20% from FY 2021). Profit margin: 23% (down from 28% in FY 2021). The decrease in margin was primarily driven by higher expenses. Combined ratio: 71.2% (up from 62.5% in FY 2021). Revenue is forecast to grow 17% p.a. on average during the next 2 years, while revenues in the Insurance industry in Malaysia are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 5% per year and the company’s share price has also fallen by 5% per year. Announcement • Jan 20
LPI Capital Bhd Announces Re-Designation of Tee Choon Yeow from Co-Chairman to Chairman, Independent and Non Executive LPI Capital Bhd announced re-designation of Mr. Tee Choon Yeow from Co-Chairman to Chairman Directorate Independent and Non Executive, at Age 70. Date of change 19 Jan. 2023. Price Target Changed • Jan 14
Price target decreased to RM12.85 Down from RM14.45, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of RM12.70. Stock is down 12% over the past year. The company is forecast to post earnings per share of RM0.65 for next year compared to RM0.87 last year. Announcement • Dec 13
Lpi Capital Bhd Announces the Demise of Tan Sri Dato' Sri Dr. Teh Hong Piow, Non Independent and Non Executive Chairman On 12 December 2022, LPI Capital Bhd announced the demise of TAN SRI DATO' SRI DR. TEH HONG PIOW, aged 92, Non Independent and Non Executive Chairman. Reported Earnings • Oct 18
Third quarter 2022 earnings released: EPS: RM0.19 (vs RM0.27 in 3Q 2021) Third quarter 2022 results: EPS: RM0.19 (down from RM0.27 in 3Q 2021). Revenue: RM311.4m (flat on 3Q 2021). Net income: RM74.7m (down 29% from 3Q 2021). Profit margin: 24% (down from 34% in 3Q 2021). Revenue is forecast to grow 8.3% 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 2% per year whereas the company’s share price has fallen by 7% per year. Major Estimate Revision • Aug 09
Consensus EPS estimates fall by 14% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from RM1.65b to RM1.62b. EPS estimate also fell from RM0.80 per share to RM0.69 per share. Net income forecast to shrink 0.7% next year vs 13% growth forecast for Insurance industry in Malaysia . Consensus price target down from RM16.09 to RM14.88. Share price was steady at RM13.30 over the past week. Upcoming Dividend • Aug 09
Upcoming dividend of RM0.25 per share Eligible shareholders must have bought the stock before 16 August 2022. Payment date: 25 August 2022. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 5.3%. Within top quartile of Malaysian dividend payers (4.9%). Higher than average of industry peers (4.6%). Price Target Changed • Aug 03
Price target decreased to RM14.88 Down from RM16.36, the current price target is an average from 4 analysts. New target price is 11% above last closing price of RM13.38. Stock is down 2.6% over the past year. The company is forecast to post earnings per share of RM0.74 for next year compared to RM0.87 last year. Reported Earnings • Aug 03
Second quarter 2022 earnings released: EPS: RM0.14 (vs RM0.21 in 2Q 2021) Second quarter 2022 results: EPS: RM0.14 (down from RM0.21 in 2Q 2021). Revenue: RM295.6m (down 1.5% from 2Q 2021). Net income: RM56.8m (down 32% from 2Q 2021). Profit margin: 19% (down from 28% in 2Q 2021). The decrease in margin was primarily driven by higher expenses. Over the next year, revenue is forecast to grow 41% compared to a 12% decline forecast for the 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 fallen by 5% per year, which means it is significantly lagging earnings. Announcement • Aug 02
LPI Capital Bhd Announces First Interim Single Tier Dividend for the Year Ended December 31, 2022, Payable on August 25, 2022 LPI Capital Bhd announced First Interim Single Tier dividend of MYR 0.2500 per share for the year ended December 31, 2022. The dividend will be payable on August 25, 2022. Ex-date is August 16, 2022. Reported Earnings • Mar 10
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: RM0.86 (up from RM0.84 in FY 2020). Revenue: RM1.23b (flat on FY 2020). Net income: RM344.7m (up 2.4% from FY 2020). Profit margin: 28% (in line with FY 2020). Combined ratio: 62.5% (down from 66.6% in FY 2020). Revenue missed analyst estimates by 2.2%. Earnings per share (EPS) also missed analyst estimates by 2.4%. Over the next year, revenue is forecast to grow 35% 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 4% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Upcoming Dividend • Feb 14
Upcoming dividend of RM0.45 per share Eligible shareholders must have bought the stock before 21 February 2022. Payment date: 02 March 2022. Payout ratio is on the higher end at 86%, and the cash payout ratio is above 100%. Trailing yield: 5.0%. Within top quartile of Malaysian dividend payers (4.3%). In line with average of industry peers (4.6%). Reported Earnings • Feb 08
Full year 2021 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2021 results: EPS: RM0.86 (up from RM0.84 in FY 2020). Revenue: RM1.23b (up 1.0% from FY 2020). Net income: RM344.7m (up 2.4% from FY 2020). Profit margin: 28% (in line with FY 2020). Revenue missed analyst estimates by 1.8%. Earnings per share (EPS) exceeded analyst estimates by 2.0%. Over the next year, revenue is forecast to grow 35% 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 4% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Announcement • Feb 07
LPI Capital Bhd Announces Second Interim Dividend for 2022, Payable on March 2, 2022 LPI Capital Bhd announced second interim dividend for 2022. For the period, the company reports Second Interim Single Tier Dividend of 45.0 sen per ordinary share. Ex-Date is February 21, 2022. Payment Date is Mar 2, 2022. Reported Earnings • Oct 15
Third quarter 2021 earnings released: EPS RM0.27 (vs RM0.22 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: RM314.1m (up 4.0% from 3Q 2020). Net income: RM105.4m (up 22% from 3Q 2020). Profit margin: 34% (up from 28% in 3Q 2020). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Upcoming Dividend • Aug 13
Upcoming dividend of RM0.29 per share Eligible shareholders must have bought the stock before 20 August 2021. Payment date: 01 September 2021. Trailing yield: 5.2%. Within top quartile of Malaysian dividend payers (4.2%). Higher than average of industry peers (3.7%). Reported Earnings • Aug 06
Second quarter 2021 earnings released: EPS RM0.21 (vs RM0.19 in 2Q 2020) The company reported a decent second quarter result with improved earnings and profit margins, although revenues were weaker. Second quarter 2021 results: Revenue: RM300.9m (down 2.1% from 2Q 2020). Net income: RM83.9m (up 8.4% from 2Q 2020). Profit margin: 28% (up from 25% in 2Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Reported Earnings • Apr 16
First quarter 2021 earnings released: EPS RM0.21 (vs RM0.20 in 1Q 2020) The company reported a solid first quarter result with improved earnings and revenues, although profit margins were flat. First quarter 2021 results: Revenue: RM326.7m (up 5.2% from 1Q 2020). Net income: RM82.3m (up 5.6% from 1Q 2020). Profit margin: 25% (in line with 1Q 2020). Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 05
Full year 2020 earnings released: EPS RM0.84 (vs RM0.81 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were flat. Full year 2020 results: Revenue: RM1.22b (flat on FY 2019). Net income: RM336.7m (up 4.5% from FY 2019). Profit margin: 28% (up from 26% in FY 2019). Combined ratio: 66.6% (down from 69.8% in FY 2019). Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Analyst Estimate Surprise Post Earnings • Mar 05
Earnings beat expectations, revenue disappoints Revenue missed analyst estimates by 1.8%. Earnings per share (EPS) exceeded analyst estimates by 2.0%. Over the next year, revenue is forecast to grow 37% compared to a 17% decline forecast for the Insurance industry in Malaysia. Announcement • Mar 04
LPI Capital Bhd, Annual General Meeting, Mar 31, 2021 LPI Capital Bhd, Annual General Meeting, Mar 31, 2021, at 11:00 Singapore Standard Time. Location: 29th Floor, Menara Public Bank, 146 Jalan Ampang Kuala Lumpur Malaysia Agenda: To lay before the meeting the audited financial statements for the financial year ended 31 December 2020 and the reports of the directors and auditors thereon; to consider re-election of directors; to approve the payment of directors' fees; to approve the payment of directors' benefit on allowances for directors; to approve the directors' benefit on insurance coverage for non-executive directors from 60th AGM to 61st AGM of the company; and to re-appoint Messrs. KPMG PLT as auditors of the company for the financial year ending 31 December 2021 and to authorise the directors to fix the auditors' remuneration. Upcoming Dividend • Feb 11
Upcoming Dividend of RM0.44 Per Share Will be paid on the 1st of March to those who are registered shareholders by the 18th of February. The trailing yield of 5.2% is in the top quartile of Malaysian dividend payers (4.3%), and it is higher than industry peers (3.3%). Is New 90 Day High Low • Feb 08
New 90-day high: RM13.96 The company is up 8.0% from its price of RM12.90 on 10 November 2020. The Malaysian market is up 5.0% over the last 90 days, indicating the company outperformed over that time. However, its price trend is similar to the Insurance industry, which is also up 8.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is RM11.40 per share. Reported Earnings • Feb 05
Full year 2020 earnings released: EPS RM0.84 (vs RM0.81 in FY 2019) The company reported a solid full year result with improved earnings and profit margins, although revenues were flat. Full year 2020 results: Revenue: RM1.23b (flat on FY 2019). Net income: RM336.7m (up 4.5% from FY 2019). Profit margin: 27% (up from 26% in FY 2019). Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Analyst Estimate Surprise Post Earnings • Feb 05
Earnings beat expectations, revenue disappoints Revenue missed analyst estimates by 1.8%. Earnings per share (EPS) exceeded analyst estimates by 2.0%. Over the next year, revenue is forecast to grow 33% compared to a 18% decline forecast for the Insurance industry in Malaysia. Announcement • Jan 20
LPI Capital Bhd Appoints Chia Lee Kee as Independent and Non Executive Independent Director LPI Capital Bhd announced the appointment of DATO' CHIA LEE KEE as Independent and Non Executive Independent Director. Date of change is 18 January 2021. Dato' Chia had served Public Bank Berhad for more than 42 years, involving 12 years in credit and credit control functions, and 30 years in various Management and Senior Management positions in Public Bank Berhad. Dato' Chia had served as the Company Secretary of Public Bank Berhad for 24 years. She had also served as the Company Secretary of several Malaysian and overseas subsidiaries of Public Bank Berhad. She was a member of the Board of several subsidiaries of Public Bank Berhad. Dato' Chia had participated in various corporate exercises of Public Bank Berhad such as the listing of its subsidiary on the Main Board of Bursa Malaysia Securities Berhad, and its merger with several financial institutions. Dato' Chia is experienced in the corporate governance requirements of Bank Negara Malaysia, Bursa Malaysia Securities Berhad and other relevant authorities, including corporate governance, standards and practices laid down by the regulatory authorities. Announcement • Jan 19
LPI Capital Bhd Appoints Chia Lee Kee as Independent and Non Executive Member of Audit Committee LPI Capital Bhd announced the appointment of DATO' CHIA LEE KEE as Independent and Non Executive Member of Audit Committee. Date of change is 18 January 2021. Is New 90 Day High Low • Dec 12
New 90-day high: RM13.80 The company is up 6.0% from its price of RM13.00 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 RM10.75 per share. Is New 90 Day High Low • Nov 03
New 90-day low: RM12.76 The company is down 2.0% from its price of RM13.00 on 05 August 2020. The Malaysian market is down 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Insurance industry, which is down 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is RM9.49 per share. Reported Earnings • Oct 16
Third quarter earnings released Over the last 12 months the company has reported total profits of RM328.1m, up 2.6% from the prior year. Total revenue was RM1.23b over the last 12 months, up 1.2% from the prior year. Is New 90 Day High Low • Oct 07
New 90-day low: RM12.80 The company is down 7.0% from its price of RM13.78 on 09 July 2020. The Malaysian market is down 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Insurance industry, which is down 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is RM10.11 per share.