Kuala Lumpur, 25 September 2013- The shareholders of MNRB Holdings Berhad (MNRB) today approved the payment of a first and final gross dividend of 32% for the financial year ended 31 March 2013 (FY2013) on the back of revenue of RM2.1 billion and consolidated group profit after tax of RM112.67 million. This total dividend payout for the year which represents a net payout ratio of approximately 45.3% amounts to RM51.14 million net (FY2012: RM27.2 million net).

Encik Sharkawi Alis, Chairman of MNRB said, "FY2013's dividend payout underscores the Group's strong financial performance amidst a challenging operating environment and regulatory constraints. At 32%, this dividend rate is the highest we have paid out to shareholders to date ever since the Risk-Based Capital Framework (RBC) regime was implemented in FY2009. The net payout ratio of 45.3% is well within the Group's dividend policy of paying out between 40% to 75% of net profits to shareholders. Based on the above dividend rate and coupled with a commendable performance of our share price, our year-on-year total shareholder return (TSR) for FY2013 is approximately 24%."

"The capital preservation strategy that was put in place at the start of the RBC regime is now bearing fruit. As we leverage on our healthy financial standing, astute business strategies and strong partnerships, we are confident of continuing to make our mark in the markets we operate in."

The MNRB Group's total revenue of RM2.1 billion garnered in FY2013, represents a 9.8% (RM186.5 million) increase in comparison to the RM1.9 billion recorded previously. The higher revenue is attributable to the increase in gross premiums and contributions by all three key subsidiaries, namely Malaysian Reinsurance Berhad (Malaysian Re), Takaful Ikhlas Sdn Bhd and MNRB Retakaful Berhad.

In the year under review, the Group's profit after tax increased by 26.1% (RM23.3 million) to RM112.7 million from RM89.4 million previously, while Group earnings per share increased by 11 sen to 52.9 sen from 41.9 sen previously. This stronger performance was mainly the result of improvements in the underwriting results as well as from the investment profits on disposal of quoted shares of Malaysian Re. Commenting on the Group's prospects, Encik Sharkawi said, "The Board of Directors remains cautiously optimistic of the Group's prospects for FY2014 and will continue to focus our efforts on ensuring our subsidiaries are adequately capitalised to meet all regulatory requirements while supporting business growth."

MNRB Holdings Berhad is an investment holding company. Amongst its wholly owned subsidiaries are Malaysian Reinsurance Berhad (Malaysian Re), Takaful Ikhlas Sdn. Bhd. (Takaful IKHLAS), MNRB Retakaful Berhad (MRT) and Malaysian Re (Dubai) Ltd. (MRDL). MNRB is listed on the Main Market of the Bursa Malaysia Securities Berhad.

For more information, please log on to www.mnrb.com.my

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