null Gem of a takaful player
Gem of a takaful player
30 Mar 2022 | Wednesday Source: The Star
Syarikat Takaful Malaysia Bhd (STMB) offers investors a good opportunity, especially for a long-term play in the takaful industry.
Hong Leong Investment Bank (HLIB) Research has reiterated its “buy” call on the stock with a target price of RM4.40 per share.
This is based on its 1.8 times financial year 2022 (FY22) price-to-book ratio with assumptions of 17% return on equity (ROE), 10.08% cost on equity and 3% long-term growth, the research house said in its latest report.
STMB, one of the leaders in the Islamic insurance industry, has strong ROE output, according to the research house.