Takaful Malaysia profit falls to RM21.2m
Topik: Takaful Malaysia, The Malaysian Reserve on Aug 31st, 2007 Comments Off
Source: The Malaysian Reserve, 30th August 2007
A combination of lower share income from General Takaful business and higher management expenses in fiscal year ended June 30 has held back Syarikat Takaful Malaysia Berhad (Takaful Malaysia) from posting a higher net profit for the period.
Despite a 12.8% jump in revenue to RM1.9 billion, it only managed to squeeze a RM21.2 million net profit, 36.5% lower than what it did in fiscal 2006 where the bottom line was RM33.6 million made from made from RM969.1 million sales.
In a filing to Bursa Malaysia yesterday, the Syariah-compliant insurance services provider said the company’s share of income from General Takaful business plunged by 44.07%, or RM38.01 million, from RM86.25 million in FY06 to RM48.24 million in the current year under review.
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