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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.

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