The 3 psychological price level is defended. Price volume movement looking healthy against the moving averages, poised for a bigger scale rebound to the MA200 level ~3.4 post budget clarity on insurance policy premium. But please note that on a technical level, this is just a rebound. Following a rebound we still want to expect healthy resumption of downtrend and see strong support before confirming a reversal

目前股价在 RM3.2 左右，已经从高点明显回落，估值处于便宜水平，风险相对有限。公司业务属于保险业，现金流稳定，而且派息一向稳定，在当前价位的股息率明显高于定存。更重要的是，Takaful 拥有 EPF、KWAP 等大型机构股东，显示出长期信心，不容易出现倒闭风险。同时，公司与 RHB 签下 20 年独家 bancassurance 协议，锁定长期收益来源；未来也积极拓展人寿、医疗、财产等新产品，加上马来西亚伊斯兰保险的渗透率仍然很低，成长空间巨大。综合来看，Takaful 具备低估值、稳定派息、成长潜力和机构支持四大优势，现价布局属于进可攻、退可守的选择。