Gem of a takaful player

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.
 

Read more here