Syarikat Takaful Malaysia (STMB) net profit for 1Q15 ended 31 March 2015, jumped 31.8 percent to RM46.2 million due to the growth from Fire and Motor class of business.
Revenue jumped 30.2 percent to RM652.5 million, driven by higher sales generated by both Family Takaful and General Takaful business as well as higher net investment income.
STMB continues its value proposition of rewarding its customers with 15 percent cash back for General Takaful products.
Significance: STMB will establish a strong footing in the local insurance and takaful arena as the preferred choice for insurance.
Tiong Nam Earnings Up 20.2 Percent
Tiong Nam Logistics Holdings posted a net profit of RM37 million for its 4Q14 ended 31 March, a 20.2 percent jump from RM30.8 million from 4Q13.
Earnings were mainly boosted by sales of its property development project in Nusajaya, Johor.
With the company’s revenue surging 53 percent to RM189.1 million, Tiong Nam stated that the property development segment was expected to contribute positively to the group in FY16.
Significance: The group is expected to deliver another year of favourable profit and has recommended a single-tier dividend of four sen per share for FY15, which is subject to shareholders’ approval. In FY14, the group declared a dividend of 2.5 sen.
Uzma Associate Bags Petronas Jobs Worth RM166m
Uzma‘s 40 percent owned Sazma Aviation secured two contracts worth RM166.5 million from Petroliam Nasional (Petronas) unit to provide aviation services.
The first contract is to provide helicopter services for the national oil company’s well drilling operations on the east coast of Sabah while the second contract is to provide aviation services for Petronas Sabah Operations.
The tie-up reflected the cooperation by both Sabah Air Aviation and Uzma in developing the aviation services sector for Sabah’s oil and gas industry.
Significance: Uzma stated the key determinant factor for viability of offshore operations of which aviation services is part of, oil price. Uzma hopes to continue to play an increasing role in the development of services for the Sabah region.
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