Financials
Quarterly Report For The Financial Period Ended 31 December 2011
Financials Archive
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Condensed Consolidated Statement Of Comprehensive Income
Condensed Consolidated Statement Of Financial Position
Review Of The Performance Of The Company And Its Subsidiaries
The Group recorded a net profit of RM48.554 million for the year, a significant improvement from the RM15.012 million recorded last year. This is mainly due to the stronger underwriting performance which was offset by the impact of the weaker investment environment especially in the third quarter period. Gross premium income rose by 4.8% year-on-year, driven by non-motor segment which posted a growth rate of 20.2%.
As at 31st December 2011, the net asset value of the Group improved to RM402.102 million (31st December 2010: RM327.797 million). The increase was mainly due to the surplus on revaluation of properties amounting to RM30.746 million as well as RM48.554 million net profits recorded during the period.
Prospects For The Next Financial Year
On 19th December 2011, the Company announced that it has submitted an application to Bank Negara Malaysia ("BNM") for the possible disposal of 100% equity in KIMB to AmG Insurance Berhad ("AmG"). Should the proposed disposal materialize, the Company is open to new investment opportunities.
