【LPI 8621 交流专区】伦平

Mr.Business

倫平資本前景受看好

* 投資廣場
2007-10-22 21:58

基於第二季及第三季的表現一貫較弱，倫平資本首9個月的全年化淨利較預測中的9160萬令吉低8.9%實屬正常現象。然而，該公司的全年化營業額及總保費則取得19.9%及17%增長，較預測中的8.3%及5.9%來得出色。

受總保費及投資收入提高帶動，首9個月營業額上揚20%至4億4750萬令吉，但在新加坡業務貢獻走低影響下，稅前盈利賺幅由20.2%下滑至19.4%。

儘管新加坡業務令人失望，但對淨利的衝擊不顯著。該國的普險業務競爭力甚高，因此較低的定價能力將直接衝擊盈利賺幅。

該公司料繼續提供優秀價值及增長表現，特別是受到進軍柬埔寨市場的利好帶動。該公司是與大眾銀行（PBBANK,1295）聯合進軍該國普險業務，並設立柬埔寨大眾銀行倫平保險有限公司。

儘管目前評估柬埔寨業務的盈利貢獻尚早，但憑著母公司大眾銀行在該國的營運紀錄，分析員看好此聯營計劃的發展前景，並有望超越現有的新加坡業務表現。
星洲日報/投資廣場‧2007.10.22

http://biz.sinchew-i.com/node/5974

secondbrother

uncle ho，普通保险的保费虽受 bank negara 的控制，但保险公司仍然可以增收 loading。好象 mas 和 airasia 收 fuel sur－charge。

最近就有 kurnia 和 am assurance 向一些 classes 的保客收 loading。

shuhjiunho

原帖由 secondbrother 于 23-10-2007 04:23 PM 发表
uncle ho，普通保险的保费虽受 bank negara 的控制，但保险公司仍然可以增收 loading。好象 mas 和 airasia 收 fuel sur－charge。

最近就有 kurnia 和 am assurance 向一些 classes 的保客收 loading。

我个人觉得loading这“东东”最终还是会到Basic，Bargaining Power看是在客户还是公司方面。就如Mas和Airasia都收surcharge，那么客户就没有太多bargaining power而被逼tag along。

有没有想过如果Airasia收Surcharge，MAS不收Surcharge的局面会是如何？？？
Insurance Company也一样。。。
我觉得，Bottom line，还是Management最好的公司会占优势。。。
二哥不妨再说说你的看法。。。

Mr.Business

将来普险业将开放，我在想Buffet的GEICO的生意模式能不能在我国经营？对风险低的车主销售低保费的车险；不通过agent，用分行和internet来直接与客户联络。不知道能不能行得通？

Mr.Business

Salcon将进入普险业。

国家银行不是鼓励普险公司合并，增加实力。Salcon不是外国普险业者，也没有银行的背景，为何国家银行会同意她收购Oriental Assurance 呢？

Wednesday October 24, 2007
MYT 3:36:39 PM

Salcon goes into insurance

By YEOW POOI LING

PETALING JAYA: Salcon Bhd will be seeing insurance as a new earnings driver in year ending Dec 31, 2008, besides its core business of water-related activities.  

Independent non-executive director Ho Tet Shin said Oriental Assurance Bhd, which Salcon was buying, was likely to contribute about 30% of earnings next year while the remaining bulk was from the water business.  

He told reporters this on Wednesday after Salcon secured shareholders' approval in an EGM to buy 74% stake of Oriental and a subsequent mandatory general offer for the remaining shares in the general insurance company.  

The acquisition, which will be completed by February, will be Salcon's first foray into the insurance sector.  

Salcon is presently involved in turnkey design and construction, operation and maintenance of water and wastewater treatment plant and related facilities.  

Chairman Datuk Seri Goh Eng Toon said Oriental would provide a consistent recurring income to the group, as construction was a cyclical business.  

"The insurance industry is regulated and have limited players. Hence, marketing and capital management are very important. That's what we believe we have," he said.  

He added that the group had already identified a suitable candidate to head Oriental.  

The general insurer was a profitable entity up until last year when it had to make provisions for a special reconciliation exercise as well as adopting an accounting policy to recognise provisional reinstatement premium.

http://biz.thestar.com.my/news/s ... 41&sec=business

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Turning Point
Saturday 20 October 2007

Time for Salcon's shareholders to vote.

On Wednesday, the shareholders of water engineering specialist Salcon Bhd will vote on its proposed acquisition of a 74% equity interest in Oriental Capital Assurance Bhd and the subsequent proposed mandatory general offer (MGO) for the remaining shares in the general insurance company. Salcon will pay Maika Holdings Bhd almost RM130mil cash for the stake, while the MGO will cost up to RM84mil.

The EGM is a major turning point for Salcon. Its core business is the turnkey design and construction, operation and maintenance of water and wastewater treatment plants and related facilities. In recent years, it has successfully ventured abroad, particularly China, after the pipeline of local water projects had dried up. On the surface, the idea of Salcon diversifying into the insurance industry is somewhat quirky. However, the management maintains that it is a matter of seizing a business opening. Says chief operating officer How See Hock: "The opportunity came along for us to buy the stake. It will be difficult otherwise to get hold of an insurance licence,"

In its Oct 5 circular to shareholders, the company offers the rationale:"The investment in Oriental is in line with Salcon's objective to diversy its revenue base to include long-term and stable recurring incomes vis-a-vis  the relatively cyclical construction industry. "This will also enable the Salcon group to capitalise on its shareholder's expertise  and experience in the insurance industry." The last sentence refers to chairman Datuk Seri Goh Eng Toon, who was once chairman of Aviva Insurance Bhd, although he is better known as the former head of Ban Hin Lee Bank Bhd. Through Naga Muhibah Sdn Bhd, Goh has a 15.7% stake in Salcon and is its largest shareholder.

Says How:"Our shareholder has always been very keen on the insurance industry. He feels it can generate good profits." Previously the vice-chairman, Goh took over chairmanship of the Salcon board when Tan Sri Razali Ismail resigned last Thursday. He, however, remains a non-executive board member. The question remains: what can Salcon do with a loss-making insurer? The analysts do not apperar concerned and. Although they acknowledge that the businesses are unrelated, they believe that the price is fair and that the addition of Oriental will add value to Salcon.

Says a foreign investment house:"Bank Negara has approved the proposal, which is a vote of confidence in Salcon." The key factor is the presence of Datuk Tee Tiam Lee and Datuk Leong Kok Wah. They are designated as senior advisers at Salcon, but neither man sits on the Salcon Board. However, according to the company's annual report 2006, they make up the executive committee, along with Goh and How. Says the annual report:"Generally, the executive director and executive committee are responsible for making and implementing operational and corporate decisions."

Tee and Leong are also directors of MUI Continenal Insurance Bhd, according to the insurer's website. Observers say Tee will be a pivotal figure in Salcon's insurance business, should the deal go through. They also reckon that it is unlikely that Salcon will house Oriental for long. They expect another corporate exercise down the road for Salcon to spin off the insurance business.

Tee is a co-founder of the business that eventually became Kurnia Asia Bhd, but is no longer there. "He successfully helped to build up Kurnia's general insurance business before listing it and selling out, and is confident of replicating this success for Oriental," says the foreign house. That may be so, but there is a potential snag. It appears that there are those who oppose maika's disposal of the Oriental shares. On Sept 27, Salcon announced that the MIC-controlled investment holding company had been restrained from selling the stake, pending a court hearing. Salcon is not a party of the proceedings and since it has already got the green light from Bank Negara and Securities Commission, it is going ahead with the proposed acquisition and MGO.

Meanwhile, there are other things to keep the management busy. The restructuring of the Malaysian water industry is a source of optimism. Says How:"It's good for us. We should be able to participate in tender exercise for water and sewage projects and we feel we have a better chance this time around." Previously, Salcon was often at a disadvantage because the past tender exercises were often open to smaller players, and Salcon could not compete with them on pricing.

"We are specialists in water and wastewater treatment. We have the experience and the in-house technology to offer complete solutions. In non-revenue water, we are a pioneer and are among the best in the country," How adds. On the company's strategy for overseas venture, he says it looks at projects in big cities in growth countries such as China, Indonesia, India and Vietnam.

http://www.salcon.com.my/dev/eric/media_article_details.php?id=419

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SALCON acquires insurance business
Tuesday 28 August 2007

Subang Jaya, August 28, 2007 - Salcon Berhad, today entered into a conditional Share Sale Agreement with Maika Holdings Berhad (Maika)  to acquire 74.17% of the issued and paid-up share capital of Oriental Capital Assurance Berhad from Maika for a total cash consideration of RM129,805,536 or at RM1.75 per Share.

Dato' Seri Goh Eng Toon, Deputy Chairman of Salcon Berhad said, 'This investment is an opportunistic acquisition which will capitalize on the existing shareholders' expertise and experience in the insurance industry. The acquisition will also enable Salcon to enhance its earnings whilst providing the stability and sustainability of long-term recurring income and revenue stream.' Dato' Seri Goh was formerly the Chairman of Aviva Insurance Berhad.

Salcon's core business is in the turnkey design and construction, operation and maintenance of water and wastewater treatment plants and related facilities. Salcon continues to remain focused as a total solutions provider, positioning itself as a developer, investor, EPC contractor and O&M operator in the regional water and wastewater sectors.

The investment in Oriental is in line with Salcon's objective to diversify its revenue base to include long-term and stable recurring incomes vis-¨¤-vis the relatively cyclical construction industry.

The Proposed Acquisition will be funded by internally generated funds and bank borrowings. An Extraordinary General Meeting will be convened in the next 3 months and the Proposed Acquisition is expected to be completed during the fourth (4th) quarter of 2007.

Oriental, which incorporated in Malaysia on 27 December 1976, is engaged principally in the underwriting of all classes of general insurance business. Its major shareholder is Maika.   

http://www.salcon.com.my/dev/eric/media_details.php?id=401

[ 本帖最后由 Mr.Business 于 24-10-2007 04:30 PM 编辑 ]

Mr.Business

Salcon的Chairman，Datuk Seri Goh Eng Toon的一些背景。

16-06-2005: Goh family foray into water business via Salcon stake
By Toh Mei Ling

Veteran banker Datuk Seri Goh Eng Toon, whose family investment vehicle acquired a 17.2% stake in water services-based Salcon Bhd for about RM17 million to RM18 million, says the acquisition will be their first venture into the utilities sector.

Goh, the former chief executive officer and chairman of Ban Hin Lee Bank Bhd, said on June 16 that he had always been interested in utilities and described the purchase price for the stake, which is 33.30 million shares, as “reasonable”.

When asked if he was satisfied with the 17.2% stake, he said there were no plans yet to raise the stake.

Goh, who is now Salcon vice chairman, said he would not be actively involved in the daily operations of the company and that there would also not be any changes in the top management. However, Goh said Salcon "must find more jobs and contracts".

Goh said his broker had approached him to purchase the block of Salcon shares on several occasions more than two weeks ago when he was overseas, and added that he did not much time to undertake a due diligence.

“I have faith and trust in the management (of Salcon). There will be no change on management level,” said Goh said at a press conference in Subang Jaya. Also present was Salcon chief executive officer Datuk Lim Lee Teok.

“The company is in good hands with Dr Lim. However, I will be here (at Salcon) from time to time and if Datuk Lim needs my presence,” he said.

Lim said Goh, with his experience in the banking industry, would be a valuable to Salcon, particularly in financial and corporate aspects.

“The change of shareholders gives me a lot more confidence that things will look better. This will help us as we hope to continue in our professionalism in this sector,” he added.

The other substantial shareholders in Salcon are the Employees Provident Fund Board (6%) and Lembaga Tabung Angkatan Tentera (4.38%).

Lim said Salcon’s overseas projects in China, Thailand, Vietnam, India and Sri Lanka contributed 90% of its total revenue compared with 10% from local projects.

“Ideally, we want to maintain a 70:30 (ratio in revenue contribution), but this year’s profit from overseas are coming in very strongly. We also have very good recurring income from associate companies in Thailand and Vietnam,” he added.

http://www.theedgedaily.com/cms/ ... a-1fbc3550-ae758a60

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Dato' Seri Goh Eng Toon
Vice Chairman, Non-Independent Non Executive Director
Malaysian



Dato' Seri Goh Eng Toon, aged 73, was appointed to the Board of Salcon and the Vice Chairman of the Company on 15 June 2005. He holds a Cambridge General Certificate of Education and is a Fellow of the Institute of Bankers Malaysia (FIBM).

Dato' Seri Goh started his banking career with Midland Bank in the United Kingdom in the early fifties and Malayan Banking Bhd from 1960 to 1973. In 1973, he was appointed the Chief Executive Officer of Ban Hin Lee Bank Berhad, Director in 1978, Acting Chairman in 1986 and became its Chairman from 1990 until the merger of Ban Hin Lee Bank Berhad and Southern Bank Berhad in July 2000.

Dato' Seri Goh presently serves on the Boards of Aviva Insurance Berhad, Pulau PInang Clinic Berhad (Gleneagles Medical Centre, Penang) and Heng Lee & Co Sdn Bhd and its Group of companies. He was the Director of Southern Bank Group : Southern Finance Berhad, SBB Mutual Berhad (formerly known as BHLB Pacific Trust Management Bhd), BHL Venture Berhad and BHLB Trustee Berhad.

http://www.salcon.com.my/dev/eri ... ors_datoserigoh.php

江湖

原帖由 Mr.Business 于 24-10-2007 04:05 PM 发表
将来普险业将开放，我在想Buffet的GEICO的生意模式能不能在我国经营？对风险低的车主销售低保费的车险；不通过agent，用分行和internet来直接与客户联络。不知道能不能行得通？

有可能， 我的mni车险就是通过MNIonline renew的。。。直接charge 进我的信用卡，
再寄保单给我。。。。是没有agent 的。。。

Mr.Business

江湖兄，
你认为Affin和Aviva能不能成功买下MAA保险公司的49%股份？

我认为不是那么容易。如果Affin和Aviva成功买下MAA保险公司的49%股份，那他们就分别控制了两间保险公司（Affin的保险公司和MAA保险公司)，利益会有冲突，如果是合并那又不一样。。。

江湖

原帖由 Mr.Business 于 24-10-2007 04:37 PM 发表
江湖兄，
你认为Affin和Aviva能不能成功买下MAA保险公司的49%股份？

我认为不是那么容易。如果Affin和Aviva成功买下MAA保险公司的49%股份，那他们就分别控制了两间保险公司（Affin的保险公司和MAA保险公司) ...

我看会合并吧，我看过一段报道说到如果ａｆｆｉｎ　成功买入ＭＡＡ　就会成为第三大的车险公司。

没有合并应该不能叫第三大吧。。

Mr.Business

AMMB也来插一脚？哈。。。Allianz Insurance Management Asia Pacific Pte. Ltd.， AXA Asia Pacific Holdings Limited and AFFIN Holdings， Kurnia Asia Berhad和AMMB都有自己的保险业务，不大可能与Malaysian Assurance Alliance Berhad合并，所以我猜Nippon Life Insurance Company会获胜，猜猜而已。。。


The board of directors of MAAH wishes to announce that Bank Negara Malaysia (“BNM”) had via its letter dated 21 September 2007 stated that it has no objection in principle for MAAH to commence preliminary negotiations with the following four (4) short-listed potential partners to explore the possibility of any one or more of the potential partners acquiring a stake in its wholly-owned subsidiary, Malaysian Assurance Alliance Berhad (“Proposal”):-

(i) Allianz Insurance Management Asia Pacific Pte. Ltd.
(ii) AXA Asia Pacific Holdings Limited and AFFIN Holdings Berhad
(iii) Kurnia Asia Berhad
(iv) Nippon Life Insurance Company

For the purposes herein, the arrangement on the names of the potential partners is not in any order of priority.

The parties will be required to obtain the prior approval of the Ministry of Finance, based on the recommendation of BNM, pursuant to the Insurance Act, 1996 before entering into any agreement to effect the Proposal. Further details on the abovesaid matter will be announced in due course.

This announcement is dated 21 September 2007.

http://announcements.bursamalays ... 35B96A?OpenDocument

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Reference is made to the announcement made on 21 September 2007 in respect to the approval granted by Bank Negara Malaysia (“BNM”) to commence preliminary negotiations with the four (4) short-listed potential partners acquiring a stake in Malaysian Assurance Alliance Berhad (“MAA”).

BNM had via its letter dated 24 October 2007 stated that it has no objection in principle for MAAH to commence preliminary discussions with another potential partner namely AmAssurance Berhad, a subsidiary of AMMB Holdings Berhad for the disposal of equity interest in MAA.

The parties will be required to obtain the prior approval of the Ministry of Finance, based on the recommendation of BNM, pursuant to the Insurance Act, 1996 before entering into any agreement to effect the above.



This announcement is dated 24 October 2007.

http://announcements.bursamalays ... 376DB2?OpenDocument

无花

salcon的吴永盾是万兴利银行的老板,是金融界的.

Mr.Business

Salcon说Oriental Assurance Bhd能为公司每年带来30％的收入。。。我觉得这讲法太乐观了。


Thursday October 25, 2007

Insurance new driver for Salcon
It will contribute 30% of earnings next year

By YEOW POOI LING

PETALING JAYA: Salcon Bhd sees insurance as a new earnings driver in year ending Dec 31, 2008 besides its core business of water-related activities.  

Independent non-executive director Ho Tet Shin said Oriental Assurance Bhd, which Salcon was buying, was likely to contribute about 30% of earnings next year with the water business providing the rest.  

He told reporters yesterday after Salcon secured shareholders’ approval in an EGM to buy 74% stake of Oriental Assurance and a subsequent mandatory general offer for the remaining shares in the general insurance company.  

The acquisition, which should be completed by February, will be Salcon’s first foray into the insurance sector.  

Salcon is presently involved in turnkey design and construction, operation and maintenance of water and wastewater treatment plant and related facilities.  

Chairman Datuk Seri Goh Eng Toon said Oriental Assurance would provide a consistent recurring income to the group, as construction was a cyclical business.  


From left: Salcon Bhd CEO How See Hock,executive director Jaggit Singh a/l Tara Singh, chairman Datuk Seri GohEng Toon and independent non-executive Ho Tet Shin after the companyEGM on Wednesday.

“The insurance industry is regulated and has limited players. Hence, marketing and capital management are very important. That’s what we believe we have,” he said, adding that the group had already identified a suitable candidate to head the insurance unit.  

The insurer was a profitable entity up until last year when it had to make provisions for a special reconciliation exercise as well as adopting an accounting policy to recognise provisional reinstatement premium.  

Meanwhile, chief operating officer How See Hock said Salcon had some RM650mil worth of unbilled sales for its construction order book.  

It was also in advanced stage of securing three water projects in Indonesia, he said.

“We hope to seal something by year-end,” How said. Additionally, Salcon has also tendered for projects worth about RM7.5bil both locally and overseas.  

In August, Salcon made four announcements on the completion of feasibility studies for various water and wastewater projects in China, Indonesia and Vietnam.  

So far, it has invested about RM50mil in China. How said India was the next attractive market that the company was eyeing.

http://biz.thestar.com.my/news/story.asp?file=/2007/10/25/business/19268012&sec=business

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更新: October 25, 2007 03:10
實康：不加入併購潮
踏足保險業壯大

報導：梁麗儀（八打靈再也24日訊）實康（SALCON，8567，主板貿易）信心滿滿，新收購的東方資本保險業務（Oriental Capital Assurance），未來2至3年可獨立運作，成為大型保險業者，暫不介入保險業併購潮。

該公司總營運長侯詩富告訴《中國報》，政府嘗試統一保險領域業者，主要是結合多家大小型保險公司，以壯大市場。

該公司今日召開特別股東大會，是征求小股東同意，收購東方資本保險。

實康主席拿督斯里吳永盾在記者會指出，已獲股東同意，並只待接管上述保險公司。

明年首季完成
實康的核心業務為水務及廢水處理。

詢及為何轉向保險業時，他坦言：“我們有保險業專才可注入東方資本保險，而且保險業務將可為股東提供獲利。”

侯詩富指出，這項收購將在明年首季完成。

該公司預計，明年水務業務獲利將達70%，余下30%貢獻來自保險業務。

“展望3年內，保險及核心業務獲利比重可各達50%。目前我們沒有其他領域收購目標。”

該公司于本月初獲准以1億2980萬5536令吉，收購東方資本保險76%股權，並以每股1.75令吉，強制性全面收購（MGO）其他未持有股權。

另一方面，侯詩富說，公司明年將專注印尼或印度市場，且都是投資水務相關業務。

“公司目前競標多項計劃，且總值75億令吉牽涉本地與海外競標計劃仍進行中。”

他補充，未進賬的建築訂單約有6億令吉，目前在中國總投資為5000萬令吉。

http://www.chinapress.com.my/content_new.asp?dt=2007-10-25&sec=business&art=1025bs24.txt

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Salcon: 30pc of profit to come from insurer in 2008
By Jeeva Arulampalam

October 25 2007

SALCON Bhd expects its latest insurance acquisition to start contributing 30 per cent to the company's profit for the fiscal year ending 2008.

The remaining profit will come from its core business - designing and constructing water and waste water treatment plants and related facilities.

For the financial year ended December 2006, Salcon's net profit was RM5 million on the back of RM121 million revenue.



"We are waiting for the day to take over the company (Oriental CapitalAssurance Bhd) and run it profitably," Salcon Bhd chairman Datuk Seri Goh Eng Toon told reporters after the company's extraordinary general meeting, where shareholders approved the proposed acquisition of Oriental.

Salcon will acquire 74.17 per cent of Oriental for RM130 million from Maika Holdings Bhd and the remaining shares it does not own through a mandatory general offer.

Goh said Salcon's rationale for acquiring the general insurer was to diversify into something more consistent and permanent. He said the insurance business will provide stability and sustainability of long-term recurring income and revenue stream.

Director Datuk Seri Megat Najmuddin Khassaid Salcon also had the in-house expertise, making reference to Goh who was previously chairman of Aviva Insurance Bhd, which has since merged into MSIG Insurance Bhd.

"We are in the process of building the team to run this new acquisition of ours," said Megat Najmuddin.

Goh said Salcon has a local candidate in mind to spearhead Oriental but will only make the announcement after receiving Bank Negara Malaysia approval.

He said the total acquisition will cost RM180 million and is expected to be completed by end-February 2008.

On Salcon's water business, chief operating officer How See Hock said the company will continue to look for investments in the water sector.

Salcon's current order book stood at RM650 million, while total worth of local and overseas projects it has tendered for was RM7.5 billion.

"A few projects in negotiations are in advance stages in Indonesia and we hope to seal it very soon. By year-end we should get something,"said How.

http://www.btimes.com.my/Current_News/BT/Thursday/Nation/salcin.xml/Article/

[ 本帖最后由 Mr.Business 于 25-10-2007 11:27 AM 编辑 ]

无花

Source：Standard and Poor's
Date  ：10-10-2007
Recommendation ：BUY
12Months Target Price: 13.00

Results Review & Earnings Outlook
• LPI’s 3Q07 results were within our expectations, with 9M net profit of
MYR62.6 mln accounting for 74% of our full-year forecast.
• Gross premium growth has been strong, coming in at 16% YoY for the
first nine months. Momentum has been sustained primarily by the
motor segment whereby premiums have surged 35% YoY this year,
while growth in fire premiums has been decent at about 15% YoY thus
far.
• Despite the strong growth in premiums, pre-tax contribution from its
general insurance business was flat YoY. While LPI’s claims ratio
remains below industry average, there has been a rise in claims this
year. Its overall claims ratio for 9M07 was about 55% versus about
50% for 9M06.
• Providing support to overall earnings, therefore, has been the rise in
investment income. We maintain our forecasts for 2007 and 2008.

[ 本帖最后由 无花 于 25-10-2007 09:26 PM 编辑 ]

无花

Source：Standard and Poor's
Date  ：10-10-2007

Recommendation & Investment Risks
• We maintain our Buy recommendation, but raise our 12-month target
price to MYR13.00 (MYR12.00 previously).
• We have based our target price on a target dividend yield of 6% (6.5%
previously), bringing our valuation metric in line with that of other
insurance companies within our coverage.
• We view LPI’s equity participation in a general insurance company in
Cambodia to be long-term positive. To recap, CampuBank Lonpac
Insurance Plc (CLI) commenced operations in Phnom Penh on Aug.
30, with a paid-up share capital of US$7 mln. Its shareholders are
Public Bank (PBK MK, MYR10.20, Strong Buy) with a 55% stake (4%
direct and 51% indirect through wholly-owned Cambodian Public Bank
(Campu Bank)) and LPI with a 45% stake.
• Risks to our recommendation and target price include: (i) a sudden
slowdown in the Malaysian economy that affects the volume of general
insurance premiums written; (ii) weaker-than-anticipated investment
income; and (iii) an unexpected rise in the claims ratio

Mr.Business

普险业的新闻。

Insurers to discuss 'winning ideas' in KL

October 26 2007

THE 23rd Pacific Insurance Conference (PIC) will be held in Kuala Lumpur from October 29, aimed at developing effective strategies to elevate the insurance industry to greater heights.

MCIS Zurich Insurance Bhd, one of Malaysia's leading insurance providers, is one of the major sponsors of the three-day PIC, with the theme "New Solutions for Traditional Challenges: Winning Ideas from Industry Leaders".

The PIC is ranked as one of the world's three largest insurance conferences and provides an opportunity for local and foreign insurers to exchange information, also gives the international community a platform to have an insight into issues concerning economic growth and social progress.

The conference not only focuses on life insurance, retirement savings and wealth management, but also goes beyond traditional boundaries to cover important issues and current developments in financial services in the Asia-Pacific region through harmonisation of standards and related conformance activities.

"Progress, steady and on-going growth is important for the industry. Thus the coming together of senior executives in the field of insurance from the world-over at this conference, to give in-sights and new winning ideas to spur the industry is very encouraging and welcoming. These ideas will benefit insurance professionals, especially those within our own industry in Malaysia," MCIS Zurich chief executive Adnan Zain said in a statement.

MCIS Zurich is a composite conventional insurance provider with approximately 400,000 policyholders to date, 5,000 agency personnel and 29 branches nationwide, shareholders' fund exceeding RM220 million and total assets amounting to RM2.7 billion.

The company is a product of a merger between MCIS Insurance Bhd and Zurich Insurance (M) Bhd in July 2002.

This year's PIC is attended by approximately 330 delegates from 27 countries.

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General insurance agents seek 5pc rise in commission

October 26 2007

THE Malaysian Association of General Insurance Agents (Perwakim) has asked the government to increase members’ commission rate by five per cent as it has remained stagnant for the last 15 years.

Perwakim deputy president Athi Rao said the revision is necessary as the rate had been lowered from 40 per cent to 25 per cent and down to the current 10 per cent 15 years ago.

“Operational costs have risen, such as in rentals, staff wages and Internet charges, but despite this we are only seeking a five per cent increase,” he said after Deputy Minister in the Prime Minister’s Department Datuk M. Kayveas opened Perwakim’s annual general meeting.

Rao said that because of the low commission rate, there is less interest among the younger generation to venture into the general insurance business.

“Imagine that for a RM50,OOO policy, the commission is only RM5,000, from which the agent has to pay 50 per cent for administrative costs and only RM2,500 is the net income,” he contended.

According to Rao, Universiti Teknologi Malaysia (UTM) is helping Perwakim conduct a study on the matter which, when completed in mid-December, will be submitted to Prime Minister Datuk Seri Abdullah Ahmad Badawi. — Bernama

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Mr.Business

今天LPI随着大市而上升40sen， 成为Top 10 gainer之一, 并以漂亮的RM11.90结束这个星期的交易。。。

LPI

(8621)  17:30:00

Last Done	11.900
Change	0.400
Day High	11.900
Day Low	11.500
Best Buy	11.700
Best Sell	11.900
Volume(Lot)	449

[ 本帖最后由 Mr.Business 于 26-10-2007 05:35 PM 编辑 ]

scsiang82

恭喜恭喜，可是我还没买。。

无花

不知道生意大人你有几张????

Mr.Business

不多，不多。。。

原帖由 Mr.Business 于 17-10-2007 03:30 PM 发表
17/10/2007，我以市价RM11.50买入200股的LPI，开始我的小小实验。
LPI将在2008年的第一个星期内宣布2007财政年的业绩并宣布分发股息，我期待有每股80cent的股息 (回报率7％)。

Mr.Business

保險业者的新闻。

MCIS Zurich plans rebranding exercise
By Rupinder Singh

October 29 2007

MCIS Zurich Insurance Bhd plans to undertake a re-branding exercise soon that will coincide with the start of its three-year business plan.

"MCIS Zurich will see new corporate initiatives to help reach our plans for the three-year business plan until 2010," said its chief executive officer Adnan Zain.

He said the three-year corporate business plan will focus on, among others, enhancing customer service.

The composite insurer recently carried out some reorganisation and realignment of its branches aimed at providing a higher level of customer service.

"We are looking at a rebranding initiative that is set to take place soon. The importance of branding to the company, stakeholders, personnel and agency personnel as well as to customers is to ensure brand promise delivery," he said.

As a composite insurer, MCIS Zurich serves both the life and general insurance markets with life insurance comprising 70 per cent of its business portfolio.

For the financial year ended February 2007, its life business raked in RM216.3 million gross written premium, while the general side collected RM113.2 million.

For life insurance, MCIS Zurich is focused on endowment and whole life markets but has been experiencing strong growth in its investment-linked portfolio in the past two years.

In the general side, fire and motor policies form the bulk of its business portfolio including marine insurance making up a substantial portion in past years.

MCIS Zurich also does international business, which forms more than a third of the general insurance business portfolio, produced by subsidiaries and affiliates of the Zurich Financial Services Group.

The company, a product of a merger between MCIS Insurance Bhd and Zurich Insurance (M) Bhd in July 2002, has a paid-up capital of RM100.3 million and total assets amounting to RM2.7 billion.

MCIS Zurich currently has 29 branches, 3,000 agency personnel and 350,000 policyholders.

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