On its outlook, MNRB expects that the newly imposed 8% service tax on financial services could marginally erode its profitability in the family takaful segment, particularly through higher distribution and investment management costs.

“The general takaful segment is largely not impacted by this development as the contributions are already subject to service tax,” it said.

Key Financial Results

Revenue: RM2.76b (up 8.0% from FY 2024).

Net income: RM394.2m (down 9.1% from FY 2024).

Profit margin: 14% (down from 17% in FY 2024). The decrease in margin was driven by higher expenses.

EPS: RM0.50 (down from RM0.55 in FY 2024).