Company No. 731996 H MAA TAKAFUL BERHAD MAA TAKAFUL

Transcription

Company No.
731996
H
MAA TAKAFUL BERHAD
MAA TAKAFUL INVESTMENT - LINKED FUNDS
(MAA Takaful Shariah Balanced Fund, MAA Takaful Shariah Income Fund, MAA Takaful Shariah
Growth Fund, MAA Takaful Shariah Flexi Fund, MAA Takaful Takafulink Structured Invest Fund,
MAA Shariah Balanced Fund 2, MAA Shariah Income Fund 2, MAA Shariah Growth Fund 2,
MAA Shariah Flexi Fund 2)
FUND PERFORMANCE REPORT
31 DECEMBER 2013
Company No.
731996
H
PORTFOLIO STATEMENT
MAA TAKAFUL SHARIAH BALANCED FUND
Fund Fact Sheet - December 2013
Investment Objective
Top Five Equity Holdings
The fund objective is to reward the unit holders with a reasonable
rate of return on income and to realise capital growth. This is
achieved through investing in undervalued and high quality
equities of fundamentally sound companies listed on the Bursa
Malaysia and halal money market and fixed income securities.
Axiata Group
Maxis
Petronas Gas
Digi. Com
Tenaga Nasional
8.95%
4.72%
4.20%
3.69%
3.15%
Asset Allocation
Fund Data
As at 31 December 2013
Net Asset Value per unit
Net Asset Value of Fund
Cash and
Deposits
4.9%
Equities
69.0%
RM 0.511
RM 69,682,051
Fixed
Income
26.1%
Market Review
For the month, the FBM Shariah Index ("FBMS") gained 317
points or 2.5% to close at 13,051 points. Average daily value
traded on Bursa in December was a whopping 58% higher
month-on-month ("MOM") at RM3.21 billion, which includes a 4
billion (volume) off-market transaction for Maxis. In fixed income
market, the local sovereign yield curve bearish steepened in
December in fear of an early US Federal Reserve’s quantitative
easing ("QE") tapering. Bond yields sold off consequently with
benchmark Malaysian Government Securities ("MGS") yields for
3-, 5-, 10- and 20-year closing at 3.22%, 3.73%, 4.09% and
4.34% respectively. For the corporate bond market, December’s
trading volume fell 23% to RM6.57 billion from RM8.56 billion
reported in November as investors stayed cautious ahead of the
Federal Open Market Committee ("FOMC") decision on its QE
tapering and a usual quiet December month with majority of
investors away for the festive holidays.
Sector Allocation
0.6%
Construction
5.5%
4.1%
Consumer Products
41.1%
8.8%
Industrial Products
IPC
3.8%
0.6%
4.6%
Plantation
Properties
Trading Services
4.9%
Fixed Income
26.1%
Cash and Deposits
Cumulative Performance
Shariah Balanced Fund
MOM
3 months
6 months
YTD
1 year
2 years
3 years
Since Inception
4
Finance
% change
2.82%
5.36%
6.02%
10.37%
10.37%
17.20%
25.21%
42.08%
Company No.
731996 H
PORTFOLIO STATEMENT (CONTINUED)
MAA TAKAFUL SHARIAH BALANCED FUND (CONTINUED)
Fund Fact Sheet - December 2013 (Continued)
Investment Review and Outlook
Calendar Year Performance
We maintain our December 2014 target of 1,920 based on 15x
2015 earnings. We continue to remain highly invested with
preference for stocks which show sustainable growth prospects
but at reasonable valuations. We remain selectively
overweighted in Oil and Gas and Utilities. For fixed income
strategy, we expect volatility in the MGS market to continue with
yields likely to trade in a wider range. In line with the cautious
investor sentiment, we prefer to maintain neutral benchmark
duration with a certain portion into liquid bonds for trading
purposes.
Annual Return
Column2
10.37%
FY2013
FY2012
6.19%
FY2011
6.83%
FY2010
12.93%
FY2009
15.52%
Source: CIMB-Principal Islamic
Fund's performance is calculated based on NAV to
NAV, assuming bonus unit distributions, if any, were
reinvested. The value of units may go up as well as
down.
Performance: Shariah Balanced Fund
0.600
0.500
0.400
0.300
0.200
0.100
0.000
The MAA Takaful Shariah Fund is underwritten by MAA Takaful Berhad and is managed by “CIMB-Principal Islamic Asset
Management Sdn Bhd”. This report is prepared by the managers for information purposes only. It does not have regard to
other investment objectives, financial situation and any particular needs of any specific person who may receive it. Investors
should also consider the investment risks carefully. Past performance is not necessarily indicative of the future performance.
5
Company No.
731996
H
MAA TAKAFUL SHARIAH INCOME FUND
Top Five Fixed Income Holdings
MAA Takaful Shariah Income Fund is a bond fund which aims to
provide steady capital growth at a rate higher than average
deposit rates over medium to long-term period.
Tanjung Bin Power
6.91%
6.83%
6.73%
6.69%
6.67%
Gulf Investment Corp
Malakoff Power
United Growth
First Resources
Fund Data
Asset Allocation
RM 0.548
RM 31,530,470
Cash and
Deposits
18.4%
Fixed
Income
53.1%
Market Review
The local sovereign yield curve bearish steepened in December
in fear of an early US Federal Reserve’s quantitative easing
("QE") tapering. Bond yields sold off consequently with
benchmark MGS yields for 3-, 5-, 10- and 20-year closing at
3.22%, 3.73%, 4.09% and 4.34% respectively. For the corporate
bond market, December’s trading volume fell 23% to RM6.57
billion from RM8.56 billion reported in November as investors
stayed cautious ahead of the Federal Open Market Committee
("FOMC") decision on its QE tapering and a usual quiet
December month with majority of investors away for the festive
holidays. In equity market, the FBM Shariah Index ("FBMS")
gained 317 points or 2.5% to close at 13,051 points in
December. Average daily value traded on Bursa in December
was a whopping 58% higher month-on-month at RM3.21 billion,
which includes a 4 billion (volume) off-market transaction for
Maxis.
Equities
28.5%
Sector Allocation
6.8%
18.4%
Financial Services
6.7%
Conglomerate
6.7%
Plantation
Power
Sovereign
Toll Roads
24.2%
28.5%
Equities
Cash and Deposits
3.7% 5.1%
Shariah Income Fund
MOM
3 months
6 months
YTD
1 year
2 years
3 years
Since Inception
6
% change
1.11%
2.24%
2.24%
3.79%
3.79%
9.60%
14.86%
28.20%
Company
731996
H
MAA TAKAFUL SHARIAH INCOME FUND (CONTINUED)
We expect volatility in the MGS market to continue with yields
likely to trade in a wider range. In line with the cautious investor
sentiment, we prefer to maintain neutral benchmark duration with
a certain portion into liquid bonds for trading purposes. For equity
strategy, we maintain our December 2014 target of 1,920 based
on 15x 2015 earnings. We continue to remain highly invested
with preference for stocks which show sustainable growth
prospects but at reasonable valuations. We remain selectively
overweighted in Oil & Gas and Utilities.
Column2
Annual Return
3.79%
FY2013
FY2012
5.60%
FY2011
4.80%
FY2010
4.00%
FY2009
4.60%
down.
Performance: Shariah Income Fund
0.600
0.550
0.500
0.450
0.400
7
Company No.
731996
H
MAA TAKAFUL SHARIAH GROWTH FUND
The fund objective is to provide capital appreciation. This is
Malaysia.
Tenaga Nasional
9.49%
7.00%
6.14%
6.07%
5.19%
Axiata
Maxis
Petronas Gas
Digi.com
Fund Data
Asset Allocation
RM 0.556
RM 102,603,272
Equities
93.0%
Cash and
Deposits
7.0%
Market Review
As expected, December was a strong month as the market
scaled new all-time highs on numerous occasions on the back of
window dressing activities and investors building positions
ahead of 2014. For the month, the FBM Shariah Index ("FBMS")
gained 317 points or 2.5% to close at 13,051 points. The broader
market underperformed as the FBM Emas gained 2.2% to
12,853.60 points. Small capitalization stock also underperformed
as the FBM Small Cap rose a mere 0.4% month-on-month
("mom") to 15,694.20 points, while the FBM ACE increased 1.5%
mom to 5,675.79 points. Average daily value traded on Bursa in
December was a whopping 58% higher mom at RM3.21 billion,
Maxis.
Sector Allocation
10.1%
1.0%
Construction
5.6%
Consumer Products
Finance
14.8%
Industrial Products
IPC
3.3%
2.3%
2.0%
Plantation
53.8%
Properties
Trading Services
7.0%
Cash and Deposits
Shariah Growth Fund
MOM
3 months
6 months
YTD
1 year
2 years
3 years
Since Inception
8
% change
4.91%
8.81%
10.10%
16.81%
16.81%
27.23%
34.43%
52.85%
Company
731996
H
MAA TAKAFUL SHARIAH GROWTH FUND (CONTINUED)
We expect global economic growth to be more synchronized in
2014. While the US economy is accelerating, growth in the
Eurozone is turning positive, even at the periphery. In Japan,
Abe’s “Third Arrow” is expected to sustain the recovery, while in
China, growth should stabilize on the new policy initiatives. The
long awaited earnings upgrade may finally happen some time
this year. We maintain our December 2014 target of 1,920 based
overweighted in Oil and Gas and Utilities.
Column2
Annual Return
16.81%
FY2013
FY2012
8.92%
FY2011
5.66%
FY2010
18.35%
FY2009
29.48%
down.
Performance: Shariah Growth Fund
0.600
14,000
0.500
12,000
10,000
0.400
8,000
0.300
6,000
0.200
4,000
0.100
2,000
0.000
0
Unit Price
FBM Shariah
9
Company No.
731996
H
MAA TAKAFUL SHARIAH FLEXI FUND
The fund aims to generate positive returns over medium to longterm period given the flexibility of the asset allocation of the fund.
Fund Data
Tenaga Nasional
9.29%
6.43%
5.98%
5.60%
4.90%
Axiata Group
Maxis
Petronas Gas
Sime Darby
Asset Allocation
RM 0.676
RM 25,179,207
Market Review
As expected, December was a strong month as the market
scaled new all-time high on numerous occasions on the back of
window dressing activities and investors building positions
ahead of 2014. For the month, the FBM Shariah Index ("FBMS")
gained 317 points or 2.5% to close at 13,051 points. The broader
market underperformed as the FBM Emas gained 2.2% to
12,853.60 points. Small caps also underperformed as the FBM
Small cap rose a mere 0.4% month-on-month ("mom") to
15,694.20 points, while the FBM ACE increased 1.5% mom to
5,675.79 points. Average daily value traded on Bursa in
December was a whopping 58% higher mom at RM3.21 billion,
Maxis.
Cash and
Deposits
7.9%
Equities
92.1%
Sector Allocation
7.8% 0.8%
Construction
4.9%
Consumer Products
Finance
12.0%
Industrial Products
IPC
5.3%
55.0%
0.8%
5.4%
Plantation
Properties
Trading Services
7.9%
Cash and Deposits
Shariah Flexi Fund
MOM
3 months
6 months
YTD
1 year
2 years
3 years
Since Inception
10
% change
3.84%
7.30%
7.99%
13.42%
13.42%
21.36%
29.25%
35.20%
Company
731996
H
MAA TAKAFUL SHARIAH FLEXI FUND (CONTINUED)
We expect global economic growth to be more synchronized in
2014. While the US economy is accelerating, growth in the
Eurozone is turning positive, even at the periphery. In Japan,
Abe’s “Third Arrow” is expected to sustain the recovery, while in
China, growth should stabilize on the new policy initiatives. The
long awaited earnings upgrade may finally happen some time
this year. We maintain our December 2014 target of 1,920 based
overweighted in Oil and Gas and Utilities.
Column2
Annual Return
13.42%
FY2013
FY2012
7.00%
6.50%
FY2011
FY2010 *
4.60%
*Since inception
down.
Performance: Shariah Flexi Fund
0.800
0.700
0.600
0.500
0.400
0.300
0.200
0.100
0.000
Management Sdn Bhd”. This report is prepared by the managers for information purposes only. It does not have regard to other
investment objectives, financial situation and any particular needs of any specific person who may receive it. Investors should also
consider the investment risks carefully. Past performance is not necessarily indicative of the future performance.
11
Company No.
731996
H
MAA TAKAFULINK STRUCTURED INVEST FUND
The GEMS Asia Murabaha strategy tracks an investment in local currency murabaha deposits equally across 5
member countries. The Index strategy is based in the concept of investing in hypothetical short term 1 month
commodity murabaha deposits in 5 Emerging Markets in Asia (Indian Rupee, Indonesian Rupiah, Thai Baht, South
Korean Won, and Philippines Peso).
Fund Data
NIL
NIL
Market Review
Short term interest rates have been fairly stable thus far in 2013, with Bank Negara Malaysia (“BNM”) maintaining the
benchmark overnight policy rate (“OPR”) at 3.00% for the whole year. BNM has highlighted that inflation has been on
the rise but driven by domestic cost factors and do not foresee the rise to be a real concern in the near term.
The Fund matured on 30 December 2013.
Performance: Structured Invest Fund
Since inception (strike date) to option expiry 21 February 2012, GEMS Murabahah Strategy was up by 27.60%*. The
Fund took a defensive stance and was fully invested in Islamic Negotiable Instrument Deposit (iNID).
*Note: Please note that this is purely the index performance and not the value of the option payoff, which will be
calculated as per the Termsheet on maturity date.
MAA Takafulink Structured Invest Fund is underwritten by MAA Takaful Berhad and is managed by Barclays Capital. This report is
prepared by the fund manager for information purposes only. It does not have regard to other investment objectives, financial
situation and any particular needs of any specific person who may receive it. Investors should also consider the investment risks
carefully. Past performance is not necessarily indicative of the future performance.
12
Company
731996
H
MAA SHARIAH BALANCED FUND 2
rate of return on income and to realize capital growth. This is
Axiata Group
Telekom Malaysia
Faber Group
Globetronics Technology
4.30%
4.16%
3.79%
3.75%
3.20%
Tenaga Nasional
Asset Allocation
Fund Data
Cash and
Deposits
20.0%
RM 0.531
RM 3,232,600
Equities
67.6%
Market Review
In December, the FBM Shariah advanced 317 points or 2.49%
month-on-month ("mom") to end at 13,051 points while regional
markets ended the year 2013 relatively mixed. In the December
Federal Open Market Committee ("FOMC") meeting, the US
Federal Reserve (US Fed) announced the start of its Quantitative
Easing ("QE") tapering, worth USD10 billion starting in January
2014. In the local fixed income market scenes, the 3-, 5-, 7-, 10-,
and 20-year MGS closed at 3.34% (November: 3.15%), 3.66%
(3.60%), 3.979 (4.03%), 4.13% (4.06%), and 4.64% (4.45%)
respectively. Similarly, the yields of Government Investment
Issues ("GII") moved in tandem with the MGS. The yields for 3,5
and 7 years GII increased by 6 to 9 basis points to 3.44%, 3.96%
and 4.13% respectively. The 10 years GII was closed unchanged
at 4.41% while the 20 years GII increased by 36 basis points to
close at 4.98%.
Fixed
Income
12.5%
Sector Allocation
1.9%
2.7%
3.8%
8.8%
35.4%
10.4%
2.3%
2.3%
12.5%
20.0%
Construction
Consumer
Industrial Products
Properties
Plantation
IPC
Technology
Trading Services
Fixed Income
Cash and Deposits
Shariah Balanced Fund
MOM
3 months
6 months
YTD
Since Inception*
* 16 April 2013
% change
0.57%
2.51%
4.53%
6.20%
6.20%
down.
13
Company
731996
H
MAA SHARIAH BALANCED FUND 2 (CONTINUED)
We maintain positive view on equity market and expect the local bourse to navigate 2014 through multi-speed global
recovery. On sector basis, we continue to favour oil and gas, healthcare, consumer and telco while selectively bullish
bias on infrastructure related construction stocks. For fixed income strategy, we expect the MGS yield curve to bear
flatten in second half of the year 2014 as market starts pricing in an overnight policy rate ("OPR") hike to counter
inflationary pressures and that would coincide with better growth prospects as global demand recovers. As we do not
shun risk from higher interest rate going forward, we remain cautious to avoid longer duration while we focus on recent
issuances.
Performance: Shariah Balanced Fund 2
0.535
0.530
0.525
0.520
0.515
0.510
0.505
0.500
0.495
0.490
0.485
0.480
The MAA Shariah Fund Series 2 is underwritten by MAA Takaful Berhad and is managed by “RHB Islamic International Asset
Management Berhad”. This report is prepared by the managers for information purposes only. It does not have regard to other
14
Company No.
731996
H
MAA SHARIAH INCOME FUND 2
Top Five Fixed Income Holdings
This is a sukuk fund which aims to provide steady capital growth
at a rate higher than average deposit rates over medium to longterm period.
Alpha Circle
Kimanis
Tanjung Bin Energy
Weststar
Fund Data
Kapar Energy Ventures
8.11%
6.71%
6.64%
6.22%
6.16%
Asset Allocation
RM 0.504
RM 24,283,968
Cash and
Deposits
28.7%
Market Review
In the December Federal Open Market Committee ("FOMC")
meeting, the US Federal Reserve ("US Fed") announced the
start of its Quantitative Easing ("QE") tapering, worth USD10
billion starting in January 2014. In the local fixed income market
scenes, the 3-, 5-, 7-, 10-, and 20-year MGS closed at 3.34%
(November: 3.15%), 3.66% (3.60%), 3.979 (4.03%), 4.13%
(4.06%), and 4.64% (4.45%) respectively. Similarly, the yields of
Government Investment Issues ("GII") moved in tandem with the
MGS. The yields for 3,5 and 7 years GII increased by 6 to 9
basis points to 3.44%, 3.96% and 4.13% respectively. The 10
years GII was closed unchanged at 4.41% while the 20 years GII
increased by 36 basis points to close at 4.98%. In equity market,
the FBM Shariah advanced 317 points or 2.49% month-on-month
("mom") to end at 13,051 points in December 2013 while
regional markets ended the year 2013 relatively mixed.
Equities
5.1%
Fixed
Income
66.2%
Sector Allocation
0.8%
0.8%
28.7%
13.4%
6.9%
5.1%
6.9%
10.1%
6.9%
5.2%
15.2%
Construction & Engineering
Petroleum & Gas
Roads
Equities
Highways & Interchanges
Plantation & Agriculture
Trading & Services
Cash and Deposits
Infrastructure & Utilities
Power Plants
Utilities
Shariah Income Fund 2
MOM
3 months
6 months
YTD
Since Inception *
* 16 April 2013
% change
0.60%
0.40%
0.60%
0.80%
0.80%
down.
15
Company
731996
H
MAA SHARIAH INCOME FUND 2 (CONTINUED)
We expect the MGS yield curve to bear flatten in second half of the year 2014 as market starts pricing in an overnight
policy rate ("OPR") hike to counter inflationary pressures and that would coincide with better growth prospects as
global demand recovers. As we do not shun risk from higher interest rate going forward, we remain cautious to avoid
longer duration while we focus on recent issuances. For equity market, we maintain positive view on equity market and
expect the local bourse to navigate 2014 through multi-speed global recovery. On sector basis, we continue to favour
oil and gas, healthcare, consumer and telco while selectively bullish bias on infrastructure related construction stocks.
Performance: Shariah Income Fund 2
0.505
0.504
0.503
0.502
0.501
0.500
0.499
0.498
0.497
0.496
0.495
16
Company No.
731996
H
MAA SHARIAH GROWTH FUND 2
The fund objective is to provide capital appreciation to the unit
holders. This is achieved through investing in undervalued and
high quality equities of fundamentally sound companies listed on
the Bursa Malaysia and halal money market securities.
Tenaga Nasional
Sime Darby
Telekom Malaysia
Pestech International
Dialog Group
Fund Data
Asset Allocation
3.22%
2.89%
2.73%
2.28%
2.26%
Equities
84.4%
RM 0.526
RM 11,422,761
Market Review
month-on-month ("mom") to end at 13,051 points. The Federal
Open Market Committee ("FOMC") announced reduction of
monthly asset purchase by USD10 billion, to USD75billion in
January 2014. Market reaction to this announcement was
somewhat muted, as “tapering talk” has been a common
conversation since late May 2013. Regional markets ended the
year 2013 relatively mixed with SET Index leading the lost of
6.7% due to political impasse while Nikkei 225 advanced 56.7%
on investors’ optimism of Abenomics and corporate earnings
upgrade.
Cash and
Deposits
15.6%
Sector Allocation
10.0%
15.6%
1.2%
8.7%
0.2%
3.9%
4.5%
8.0%
1.1%
46.9%
Construction
Consumer
Industrial Products
IPC
Plantation
Properties
Technology
Trading Services
Warrant
Cash and Deposits
Shariah Growth Fund 2
MOM
3 months
6 months
YTD
Since Inception*
* 16 April 2013
% change
0.77%
2.33%
2.73%
5.20%
5.20%
down.
17
Company
731996
H
MAA SHARIAH GROWTH FUND 2 (CONTINUED)
recovery. We foresee the U.S to lead the global economy recovery with more signs of positive macro front – improving
jobs data, GDP growth and ISM manufacturing Index. Malaysia economy is expected to grow at 5.0% to 5.5% in 2014
despite higher inflation target of 3% to 3.5% due to fuel subsidy cut. On sector basis, we continue to favour oil and
gas, healthcare, consumer and telco while selectively bullish bias on infrastructure related construction stocks. We
envisage the Malaysian government to roll out targeted infrastructure projects such as West Coast Expressway
("WCE"), High-speed Rail ("HSR") and Mass Rapid Transit ("MRT") Circle Line to spearhead the economy and
continue its reform agenda including subsidy rationalization which augur well for the economy.
Performance: Shariah Growth Fund 2
0.528
0.526
0.524
0.522
0.520
0.518
0.516
0.514
0.512
0.510
0.508
0.506
0.504
0.502
0.500
0.498
0.496
13,500
13,000
12,500
12,000
11,500
11,000
10,500
Unit Price
FBM Shariah
18
Company No.
731996
H
MAA SHARIAH FLEXI FUND 2
rate of return on income and to realize capital growth. This is
Tenaga Nasional
Telekom Malaysia
Sime Darby
Dialog
Pestech
Fund Data
Asset Allocation
3.53%
3.00%
2.82%
2.49%
2.47%
Equities
89.4%
RM 0.525
RM 20,528,450
Market Review
month-on-month ("mom") to end at 13,051 points. The Federal
Open Market Committee ("FOMC") announced reduction of
monthly asset purchase by USD10 billion, to USD75 billion in
January 2014. Market reaction to this announcement was
somewhat muted, as “tapering talk” has been a common
conversation since late May 2013. Regional markets ended the
year 2013 relatively mixed with SET Index leading the lost of
6.7% due to political impasse while Nikkei 225 advanced 56.7%
on investors’ optimism of Abenomics and corporate earnings
upgrade.
Cash and
Deposits
10.6%
Sector Allocation
0.3%
10.6%
1.4%
10.5%
9.5%
4.4%
4.0%
49.5%
8.9%
0.9%
Consumer
IPC
Warrant
Construction
Properties
Cash and Deposits
Industrial Products
Technology
Plantation
Trading Services
Shariah Flexi Fund 2
MOM
3 months
6 months
YTD
Since Inception*
* 16 April 2013
% change
0.77%
2.14%
3.14%
5.00%
5.00%
down.
19
Company
731996
H
MAA SHARIAH FLEXI FUND 2 (CONTINUED)
recovery. We foresee the U.S to lead the global economy recovery with more signs of positive macro front – improving
jobs data, GDP growth and ISM manufacturing Index. Malaysia economy is expected to grow at 5.0% to 5.5% in 2014
despite higher inflation target of 3% to 3.5% due to fuel subsidy cut. On sector basis, we continue to favour oil and
gas, healthcare, consumer and telco while selectively bullish bias on infrastructure related construction stocks. We
envisage the Malaysian government to rollout targeted infrastructure projects such as West Coast Expressway
"(WCE)", High-speed Rail "(HSR)" and Mass Rapid Transit "(MRT)" Circle Line to spearhead the economy and
continue its reform agenda including subsidy rationalization which augur well for the economy.
Performance: Shariah Flexi Fund 2
0.530
0.525
0.520
0.515
0.510
0.505
0.500
0.495
0.490
0.485
20
Company No.
731996
H
MAA TAKAFUL BERHAD
MAA TAKAFUL INVESTMENT-LINKED FUNDS
(MAA Takaful Shariah Balanced Fund, MAA Takaful Shariah Income Fund, MAA Takaful Shariah Growth Fund,
MAA Takaful Shariah Flexi Fund, MAA Takaful Takafulink Structured Invest Fund, MAA Shariah Balanced Fund 2,
MAA Shariah Income Fund 2, MAA Shariah Growth Fund 2, MAA Shariah Flexi Fund 2)
FUND OBJECTIVE AND FUND PERFORMANCE
AS AT 31 DECEMBER 2013
Name of Funds
Fund's investment objectives
Asset allocation
Net investment returns
Description of charges levied
Changes of objective, restriction
and limitation during the year
Details of distribution:
NAV per unit-before distribution
NAV per unit-after distribution
Future prospects and proposed
strategies
MAA Takaful Shariah Balanced
Fund
To generate a balanced mix of
income returns, as well as capital
growth over medium to long-term.
MAA Takaful Shariah Income Fund
Equities and Derivatives
69.0%
Fixed Income Securities
26.1%
Cash and Deposits
4.9%
Year End 2009
371,043
Year End 2010
783,717
Year End 2011
1,227,536
Year End 2012
1,831,542
Year End 2013
2,459,786
Wakalah Tharawat fee of 1.3% p.a
NA
To provide steady capital growth at
rates higher than average fixeddeposit rates over medium to longterm period.
28.5%
53.1%
Cash and Deposits
18.4%
Year End 2009
272,512
Year End 2010
727,007
Year End 2011
1,019,009
Year End 2012
1,374,261
Year End 2013
1,600,150
Wakalah Tharawat fee of 1% p.a
NA
NA
NA
The fund manager maintains the
December 2014 target of 1,920
based on 15x 2015 earnings, and
continues to remain highly invested
with preference for stocks which
show sustainable growth prospects
but at reasonable valuations. The
Fund remains selectively
overweighted in Oil and Gas and
Utilities. For fixed income strategy,
volatility in the MGS market is
excpected to continue with yields
likely to trade in a wider range. In line
with the cautious investor sentiment,
the fund manager prefers to
maintain neutral benchmark
duration with a certain portion into
liquid bonds for trading purposes.
NA
NA
Volatility in the MGS market is
expected to continue with yields
likely to trade in a wider range. In line
with the cautious investor sentiment,
the fund manager prefers to
maintain neutral benchmark
duration with a certain portion into
liquid bonds for trading purposes.
For equity strategy, the fund
manager maintains the December
2014 target of 1,920 based on 15x
2015 earnings, and continues to
remain highly invested with
preference for stocks which show
sustainable growth prospects but at
reasonable valuations. The Fund
remains selectively overweighted in
Oil and Gas and Utilities.
21
Company No.
731996
H
MAA TAKAFUL BERHAD
FUND OBJECTIVE AND FUND PERFORMANCE (CONTINUED)
Name of Funds
Performance of relevant
benchmark indices
MAA Takaful Shariah Balanced
Fund
Absolute target return 7% p.a
Year End 2009
Year End 2010
Year End 2011
Year End 2012
Year End 2013
Name of Funds
7.00%
7.00%
7.00%
7.00%
7.00%
MAA Takaful Shariah Growth Fund
Year End 2009
Year End 2010
Year End 2011
Year End 2012
Year End 2013
MAA Takaful Shariah Flexi Fund
To provide capital growth over
medium to long-term
Asset allocation
Cash and Deposits
Year End 2009
Year End 2010
Year End 2011
Year End 2012
93.0%
0.0%
7.0%
337,637
980,979
1,532,316
2,449,230
Year End 2013
3,061,986 Year End 2013
NAV per unit - before distribution
NAV per unit - after distribution
5.00%
5.00%
5.00%
5.00%
5.00%
To generate positive returns over
medium to long-term period given
the flexibility of the asset allocation of
the fund
92.1%
0.0%
Cash and Deposits
7.9%
Year End 2009
NA
Year End 2010
24,448
Year End 2011
379,598
Year End 2012
599,056
915,108
NA
NA
NA
NA
NA
NA
22
Company No.
731996
H
MAA TAKAFUL BERHAD
Name of Funds
strategies
benchmark indices
MAA Takaful Shariah Flexi Fund
Global economic growth is expected
to be more synchronized in 2014.
While the US economy is
accelerating, growth in the Eurozone
is turning positive, even at the
periphery. In Japan, Abe’s “Third
Arrow” is expected to sustain the
recovery, while in China, growth
should stabilize on the new policy
initiatives. The long awaited
earnings upgrade may finally
happen some time this year. The
fund manager maintains the
Utilities.
Global economic growth is expected
to be more synchronized in 2014.
While the US economy is
accelerating, growth in the Eurozone
is turning positive, even at the
periphery. In Japan, Abe’s “Third
Arrow” is expected to sustain the
recovery, while in China, growth
should stabilize on the new policy
initiatives. The long awaited
earnings upgrade may finally
happen some time this year. The
fund manager maintains the
Utilities.
FBM Shariah Index (since 2010)
9% on 3 year rolling basis
Year End 2009
Year End 2010
Year End 2011
Year End 2012
Year End 2013
9.00%
18.20%
2.41%
11.85%
13.29%
23
Year End 2009
Year End 2010
Year End 2011
Year End 2012
Year End 2013
NA
2.25%
9.00%
9.00%
9.00%
Company No.
731996
H
MAA TAKAFUL BERHAD
Name of Funds
MAA Takafulink Structured Invest
Fund*
The GEMS Asia Murabaha strategy
tracks an investment in local
currency murabaha deposits equally
across 5 member countries. The
Index strategy is based on the
concept of investing in hypothetical
short term 1 month commodity
murabaha deposits in 5 Emerging
Markets in Asia (Indian Rupee,
Indonesian Rupiah , Thai Baht,
South Korean Won, Philippines
Peso).
Asset allocation
0%
0%
Cash and Deposits
100%
Year End 2009
83,498
Year End 2010
17,914
Year End 2011
27,254
Year End 2012
88,229
Year End 2013
NIL
strategies
benchmark indices
NA
NA
NA
The Fund is taking a defensive
stance and remains fully invested in
Islamic Negotiable Instrument
Deposit (iNID).
Target return better than FD
Year End
Year End
Year End
Year End
Year End
2009
2010
2011
2012
2013
NA
NA
NA
NA
NA
* This Fund matured on 30 December 2013.
24
Company No.
731996
H
MAA TAKAFUL BERHAD
Name of Funds
MAA Shariah Balanced Fund 2
To generate a balanced mix of
income returns, as well as capital
growth over medium to long-term.
MAA Shariah Income Fund 2
To provide steady capital growth at
rates higher than average fixeddeposit rates over medium to longterm period.
Asset allocation
67.6%
12.5%
Cash and Deposits
20.0%
Year End 2013
85,137
5.1%
66.2%
Cash and Deposits
28.7%
Year End 2013
359,938
Wakalah Tharawat fee of 1% p.a
NA
NA
NA
NA
The fund manager maintains
positive view on equity market and
expects the local bourse to navigate
2014 through multi-speed global
recovery. On sector basis, the fund
manager continues to favour oil and
gas, healthcare, consumer and telco
while selectively bullish bias on infra
related construction stocks. For fixed
income strategy, the MGS yield curve
is expected to bear flatten in second
half of the year 2014 as market
starts pricing in an OPR hike to
counter inflationary pressures and
that would coincide with better
growth prospects as global demand
recovers. The fund manager
remains cautious to avoid longer
duration while focusing on recent
issuances.
NA
NA
The MGS yield curve is expected to
bear flatten in second half of the year
2014 as market starts pricing in an
OPR hike to counter inflationary
pressures and that would coincide
with better growth prospects as
global demand recovers. The fund
manager remains cautious to avoid
longer duration while focusing on
recent issuances. For equity market,
the fund manager maintains positive
view on equity market and expects
the local bourse to navigate 2014
through multi-speed global recovery.
On sector basis, the fund manager
continues to favour oil and gas,
healthcare, consumer and telco
related construction stocks.
Absolute target return 7.5% p.a
Absolute target return 5.5% p.a
strategies
benchmark indices
Year End 2013
5.32% Year End 2013
25
3.90%
Company No.
731996
H
MAA TAKAFUL BERHAD
Name of Funds
MAA Shariah Growth Fund 2
MAA Shariah Flexi Fund 2
To provide capital growth over
medium to long-term.
To generate positive returns over
medium to long-term period given
the flexibility of the asset allocation of
the fund.
Asset allocation
84.4%
0.0%
Cash and Deposits
15.6%
Year End 2013
147,587
89.4%
0.0%
Cash and Deposits
10.6%
Year End 2013
275,132
NA
NA
NA
NA
recovery. Malaysia economy is
expected to grow at 5.0% to 5.5% in
2014 despite higher inflation target
of 3% to 3.5% due to fuel subsidy
cut. On sector basis, the fund
related construction stocks. The
Malaysian government is envisaged
to rollout targeted infra projects such
as West Coast Expressway ("WCE"),
High-speed Rail ("HSR") and Mass
Rapid Transit ("MRT") Circle Line to
spearhead the economy and
continue its reform agenda including
subsidy rationalization which augur
well for the economy.
NA
NA
recovery. Malaysia economy is
expected to grow at 5.0% to 5.5% in
2014 despite higher inflation target
of 3% to 3.5% due to fuel subsidy
cut. On sector basis, the fund
related construction stocks. The
Malaysian government is envisaged
to rollout targeted infra projects such
as West Coast Expressway ("WCE"),
High-speed Rail ("HSR") and Mass
Rapid Transit ("MRT") Circle Line to
spearhead the economy and
continue its reform agenda including
subsidy rationalization which augur
well for the economy.
FBM Shariah Index
strategies
benchmark indices
Year End 2013
12.57% Year End 2013
26
6.39%
Company No.
731996
H
MAA TAKAFUL BERHAD
MAA Takaful Shariah Balanced Fund
Composition of Fund to Industry Sector:
Construction
Consumer
Corporate Action
Finance
Industrial
Industrial Products
IPC (Infrastructure Project Company)
Plantation
Properties
REIT
Technology
Trading Services
Fixed Income
Cash and Deposits
Category of Investment:
Malaysian Government Securities
Quoted Equity Securities
Quoted Corporate Debts
Unquoted Investment-Linked
Unquoted Bonds
Fixed and Call Deposits
Total NAV
Total Units
NAV per unit
Highest NAV per unit during the year
Lowest NAV per unit during the year
% of Annual Returns:
- Capital Growth
- Income Distribution
Average Annual Returns:
- one year period
- three year period
- five year period
The performance of relevant benchmark
indices
Year 2009
3.50%
3.13%
0.40%
5.23%
1.94%
13.43%
1.96%
16.90%
22.19%
31.33%
46.49%
22.19%
31.32%
18,513,944
40,278,547
0.460
0.512
0.391
Year 2010
4.96%
3.05%
9.75%
2.25%
13.41%
4.08%
1.20%
15.94%
20.94%
24.42%
Year 2011
3.15%
3.11%
1.38%
5.07%
2.58%
17.04%
1.23%
19.80%
26.97%
19.67%
Year 2012
2.19%
1.04%
2.86%
5.05%
8.97%
12.40%
0.44%
0.56%
18.06%
27.07%
21.36%
Year 2013
4.56%
0.62%
3.79%
8.77%
4.10%
5.45%
0.57%
41.09%
26.12%
4.93%
54.63%
53.37%
51.57%
68.95%
20.94%
26.97%
27.07%
26.12%
24.43%
19.66%
21.36%
4.93%
30,197,628 46,126,935 60,267,910 69,682,051
65,493,150 105,795,722 130,168,272 136,364,092
0.461
0.436
0.463
0.511
0.462
0.436
0.463
0.511
0.403
0.398
0.433
0.454
15.52%
9.80%
12.93%
10.60%
6.83%
-
6.19%
-
10.37%
-
15.52%
-
12.93%
3.85%
-
6.83%
11.70%
-
6.19%
8.61%
4.91%
10.37%
7.78%
10.31%
7.00%
7.00%
7.00%
7.00%
7.00%
27
Company No.
731996
H
MAA TAKAFUL BERHAD
Construction
Consumer
Finance
Industrial
Industrial Products
Plantation
Properties
Trading Services
Cash and deposits
Unquoted Bonds
Total NAV
Total Units
NAV per unit
- Capital Growth
- one year period
- three year period
- five year period
indices
Year 2009
Year 2010
Year 2011
Year 2012
Year 2013
1.24%
88.61%
10.15%
0.67%
74.34%
24.99%
1.35%
1.17%
1.59%
2.77%
3.33%
81.53%
8.26%
0.83%
0.45%
1.48%
2.18%
3.98%
5.30%
0.20%
7.27%
69.24%
9.07%
1.79%
0.23%
1.62%
1.84%
1.70%
2.29%
0.23%
18.81%
53.09%
18.40%
1.24%
88.62%
10.15%
13,372,490
25,561,864
0.523
0.523
0.500
0.67%
74.34%
24.99%
21,015,752
40,463,688
0.519
0.520
0.500
10.20%
81.53%
8.27%
21,330,080
40,706,260
0.524
0.524
0.500
21.69%
69.24%
9.07%
37,316,412
70,675,023
0.528
0.528
0.500
28.51%
53.09%
18.40%
31,530,470
57,537,354
0.548
0.548
0.525
4.60%
4.60%
4.00%
4.00%
4.80%
4.80%
5.60%
-
3.79%
-
4.60%
-
4.00%
3.46%
-
4.80%
4.47%
-
5.60%
4.80%
4.15%
3.79%
4.73%
4.56%
5.00%
5.00%
5.00%
5.00%
5.00%
28
Company No.
731996
H
MAA TAKAFUL BERHAD
Construction
Consumer
Corporate Action
Finance
Industrial
Industrial Products
Plantation
Properties
Technology
Trading Services
TSR and Warrants
Cash and deposits
Unquoted Bonds
Total NAV
Total Units
NAV per unit
- Capital Growth
- one year period
- three year period
- five year period
indices
Year 2009
5.65%
5.08%
0.66%
10.54%
3.16%
21.67%
3.37%
28.01%
21.86%
78.13%
21.87%
20,338,833
45,643,948
0.446
0.516
0.336
Year 2010
9.42%
5.08%
14.23%
4.18%
24.30%
6.80%
1.45%
29.84%
4.70%
Year 2011
5.73%
5.13%
2.23%
8.48%
3.48%
23.62%
2.15%
30.42%
18.76%
Year 2012
5.32%
5.34%
2.08%
9.34%
15.30%
14.08%
2.30%
33.31%
12.93%
Year 2013
1.97%
2.31%
3.35%
14.82%
5.65%
10.08%
0.97%
53.82%
7.03%
95.30%
81.25%
87.07%
92.97%
4.70%
18.75%
12.93%
7.03%
40,627,343 64,706,760 82,264,657 102,603,272
84,926,503 148,070,389 172,824,910 184,538,259
0.478
0.437
0.476
0.556
0.482
0.438
0.476
0.556
0.396
0.390
0.430
0.456
29.48%
8.10%
18.35%
13.20%
5.66%
-
8.92%
-
16.81%
-
29.48%
-
18.35%
3.82%
-
5.66%
17.42%
-
8.92%
10.85%
5.19%
16.81%
10.37%
15.55%
9.00%
18.20%
2.41%
11.85%
13.29%
29
Company No.
731996
H
MAA TAKAFUL BERHAD
MAA Takaful Shariah Flexi Fund *
Year 2010
Construction
7.03%
Consumer
3.89%
Finance
Industrial
15.14%
Industrial Products
Plantation
20.35%
Properties
6.07%
REIT (Real Estate Investment Trust)
Technology
1.43%
Trading Services
16.73%
Cash and deposits
29.36%
70.64%
Unquoted Bonds
29.36%
Total NAV
6,845,290
Total Units
13,080,526
NAV per unit
0.523
0.525
0.499
- Capital Growth
4.60%
- one year period
4.60%
- three year period
- five year period
2.25%
indices
* This Fund was launched on 1 October 2010.
30
Year 2011
Year 2012
Year 2013
5.35%
6.48%
2.17%
3.68%
2.76%
24.72%
2.17%
28.72%
23.95%
2.97%
1.46%
3.83%
6.48%
12.97%
16.05%
0.60%
0.72%
25.51%
29.41%
5.43%
0.78%
5.31%
11.95%
4.94%
7.79%
0.83%
55.04%
7.93%
76.04%
23.96%
17,532,197
31,476,117
0.557
0.557
0.504
70.59%
29.41%
22,455,268
37,676,624
0.596
0.596
0.552
92.07%
7.93%
25,179,207
37,247,348
0.676
0.678
0.578
6.50%
-
7.00%
-
13.42%
-
6.50%
-
7.00%
6.03%
-
13.42%
8.93%
-
9.00%
9.00%
9.00%
Company No.
731996
H
MAA TAKAFUL BERHAD
MAA Takafulink Structured Invest Fund * Year 2009
Option
5.04%
Cash and deposits
94.96%
5.04%
94.96%
Total NAV
40,340,497
Total Units
83,502,267
NAV per unit
0.483
0.488
0.478
- Capital Growth
-3.40%
- one year period
-3.40%
- three year period
- five year period
indices
* This Fund matured on 30 December 2013.
31
Year 2010
Year 2011
Year 2012
Year 2013
4.01%
95.99%
2.59%
97.41%
100.00%
100.00%
4.01%
95.99%
41,311,330
82,864,260
0.499
0.503
0.482
2.59%
97.41%
41,861,794
82,730,818
0.506
0.508
0.497
100.00%
44,177,868
82,421,395
0.536
0.536
0.506
100.00%
0.550
0.536
3.31%
-
1.40%
-
5.93%
-
-
3.31%
-
1.40%
-
5.93%
3.53%
-
-
-
-
-
-
Company No.
731996
H
MAA TAKAFUL BERHAD
MAA Shariah Balanced Fund 2
Construction
Consumer
Industrial Products
Plantation
Properties
Technology
Trading Services
Fixed Income
Cash and Deposits
Unquoted Bonds
Total NAV
Total Units
NAV per unit
- Capital Growth
- one year period
- three year period
- five year period
indices
Year 2013
2.30%
2.28%
10.43%
1.89%
2.74%
8.75%
3.75%
35.43%
12.48%
19.95%
67.57%
12.48%
19.95%
3,232,600
6,087,759
0.531
0.533
0.498
6.20%
6.20%
5.32%
32
Company No.
731996
H
MAA TAKAFUL BERHAD
MAA Shariah Income Fund 2
Construction
Properties
Trading Services
TSR and Warrants
Cash and deposits
Unquoted Bonds
Total NAV
Total Units
NAV per unit
- Capital Growth
- one year period
- three year period
- five year period
indices
Year 2013
1.45%
1.81%
1.79%
0.08%
66.21%
28.66%
5.13%
66.21%
28.66%
24,283,968
48,182,476
0.504
0.504
0.498
0.80%
0.80%
3.90%
33
Company No.
731996
H
MAA TAKAFUL BERHAD
MAA Shariah Growth Fund 2
Construction
Consumer
Industrial Products
Plantation
Properties
Technology
Trading Services
TSR and Warrants
Cash and deposits
Unquoted Bonds
Total NAV
Total Units
NAV per unit
- Capital Growth
- one year period
- three year period
- five year period
indices
Year 2013
10.03%
1.23%
8.70%
3.86%
4.46%
7.97%
1.07%
46.86%
0.23%
15.59%
84.41%
15.59%
11,422,761
21,716,276
0.526
0.533
0.490
5.20%
5.20%
12.57%
34
Company No.
731996 H
MAA TAKAFUL BERHAD
MAA Shariah Flexi Fund 2
Construction
Consumer
Industrial Products
Plantation
Properties
Technology
Trading Services
TSR and Warrants
Cash and deposits
Unquoted Bonds
Total NAV
Total Units
NAV per unit
- Capital Growth
- one year period
- three year period
- five year period
indices
Year 2013
10.47%
1.39%
9.53%
4.02%
4.36%
8.91%
0.89%
49.53%
0.27%
10.63%
89.37%
10.63%
20,528,450
39,101,810
0.525
0.531
0.490
5.00%
5.00%
6.39%
35
Company No.
731996
H
MAA TAKAFUL BERHAD
(MAA Takaful Shariah Balanced Fund, MAA Takaful Shariah Income Fund, MAA Takaful Shariah Growth Fund, MAA Takaful
Shariah Flexi Fund, MAA Takaful Takafulink Structured Invest Fund, MAA Shariah Balanced Fund 2, MAA Shariah Income
Fund 2, MAA Shariah Growth Fund 2, MAA Shariah Flexi Fund 2)
STATEMENTS OF ASSETS AND LIABILITIES AS AT 31 DECEMBER 2013
Note
INVESTMENTS
Quoted investments
Unquoted investments
Fixed and call deposits
OTHER ASSETS
Amount due from
Manager
Receivables
Cash and bank balances
TOTAL ASSETS
LIABILITIES
Payables
Current tax liabilities
Deferred tax liabilities
Amount due to Manager
TOTAL LIABILITIES
NET ASSET VALUE
OF FUND
3
4
Balanced
Fund
RM
Income
Fund
RM
Growth
Fund
RM
Flexi
Fund
RM
Structured
Invest
Fund
RM
49,283,229
18,453,350
3,294,000
71,030,579
8,493,390
15,711,150
5,798,000
30,002,540
98,582,996
5,979,000
104,561,996
24,822,782
2,364,000
27,186,782
-
522,751
499,892
1,022,643
72,053,222
1,907,323
154,109
20,032
2,081,464
32,084,004
1,291,676
519,974
1,811,650
106,373,646
97,040
359,189
456,229
27,643,011
982,399
17,241
999,640
999,640
629,034
243,826
335,693
1,162,618
2,371,171
431,671
85,280
36,583
553,534
385,154
411,017
1,111,162
1,863,041
3,770,374
733,490
89,950
176,619
1,463,745
2,463,804
826,427
173,213
999,640
69,682,051
31,530,470
102,603,272
25,179,207
-
53,800,150
26,108,018
71,598,936
19,486,845
-
15,881,901
69,682,051
5,422,452
31,530,470
31,004,336
102,603,272
5,692,362
25,179,207
-
136,364,092
57,537,354
184,538,259
37,247,348
-
0.511
0.548
0.556
0.676
-
REPRESENTED BY:
Unitholders' capital
Undistributed surplus
carried forward
PARTICIPANTS' FUND
Number of units in
circulation
Net asset value per
unit
The accompanying notes form an integral part of the financial information.
36
Company No.
731996
H
MAA TAKAFUL BERHAD
STATEMENTS OF ASSETS AND LIABILITIES AS AT 31 DECEMBER 2013 (CONTINUED)
Note
INVESTMENTS
Quoted investments
OTHER ASSETS
Amount due from
Manager
Receivables
Deferred tax assets
TOTAL ASSETS
LIABILITIES
Payables
TOTAL LIABILITIES
NET ASSET VALUE
OF FUND
3
4
Balanced
Fund 2
RM
Income
Fund 2
RM
Growth
Fund 2
RM
Flexi
Fund 2
RM
2,210,763
408,258
618,477
3,237,498
1,253,756
16,155,578
5,466,431
22,875,765
9,660,338
1,876,220
11,536,558
18,459,078
1,967,721
20,426,799
19,094
17,741
36,835
3,274,333
214,775
19,067
1,311,712
1,545,554
24,421,319
71,807
36,294
151,554
259,655
11,796,213
39,743
87,785
167,744
295,272
20,722,071
26,926
3,334
8,895
2,578
41,733
98,249
15,734
23,368
137,351
349,540
5,276
18,636
373,452
150,379
10,052
33,190
193,621
3,232,600
24,283,968
11,422,761
20,528,450
3,058,949
24,137,716
11,125,829
19,977,577
173,651
3,232,600
146,252
24,283,968
296,932
11,422,761
550,873
20,528,450
6,087,759
48,182,476
21,716,276
39,101,810
0.531
0.504
0.526
0.525
REPRESENTED BY:
carried forward
PARTICIPANTS' FUND
Number of units in
circulation
Net asset value per
unit
37
Company No.
731996
H
MAA TAKAFUL BERHAD
STATEMENTS OF ASSETS AND LIABILITIES AS AT 31 DECEMBER 2012
Note
INVESTMENTS
Quoted investments
Islamic Negotiable
Instruments of Deposit
OTHER ASSETS
Amount due from
Manager
Receivables
TOTAL ASSETS
LIABILITIES
Payables
TOTAL LIABILITIES
NET ASSET VALUE
OF FUND
3
4
Balanced
Fund
RM
Income
Fund
RM
Growth
Fund
RM
Flexi
Fund
RM
Structured
Invest
Fund
RM
31,914,198
16,571,400
13,048,000
7,748,941
24,580,450
3,115,000
73,798,668
11,895,000
16,727,444
6,809,000
-
61,533,598
35,444,391
85,693,668
23,536,444
45,677,519
45,677,519
333,454
178,236
511,690
62,045,288
2,140,247
235,695
55,424
2,431,366
37,875,757
258,576
209,489
468,065
86,161,733
134,199
26,548
160,747
23,697,191
5,879
5,879
45,683,398
859,424
341,390
200,713
375,851
1,777,378
319,626
157,487
82,232
559,345
2,529,916
447,176
550,430
369,554
3,897,076
266,198
135,789
83,738
756,198
1,241,923
595,467
17,351
306,735
585,977
1,505,530
60,267,910
37,316,412
82,264,657
22,455,268
44,177,868
50,817,435
33,309,337
65,852,202
19,951,542
41,242,088
9,450,475
60,267,910
4,007,075
37,316,412
16,412,455
82,264,657
2,503,726
22,455,268
2,935,780
44,177,868
130,168,272
70,675,023
172,824,910
37,676,624
82,421,395
0.463
0.528
0.476
0.596
0.536
REPRESENTED BY:
carried forward
PARTICIPANTS' FUND
Number of units in
circulation
Net asset value per
unit
38
Company No.
731996
H
MAA TAKAFUL BERHAD
STATEMENT OF INCOME AND EXPENDITURE FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2013
Balanced
Fund
RM
INCOME
Net investment income
Profit Income
Dividend Income
Profit on disposal
Debt securities
Equity securities
Unrealised capital gain
Equity securities
TOTAL INCOME
OUTGO
Management fees and
administrative expenses
Unrealised capital loss
Debt securities
Amortisation of premium
TOTAL OUTGO
Income
Fund
RM
Growth
Fund
RM
Flexi
Fund
RM
Structured
Invest
Fund
RM
1,080,354
1,404,687
1,301,619
324,372
320,781
2,741,205
140,977
774,131
105,292
-
160,400
3,497,795
467,810
350,784
6,999,065
1,690,393
1,392,910
-
2,242,497
8,385,733
353,940
2,798,525
7,009,155
17,070,206
1,161,013
3,766,514
1,498,202
(852,730)
(351,567)
(1,355,749)
(329,595)
(230,959)
(555,245)
(25,255)
(1,433,230)
(924,549)
(25,841)
(1,301,957)
(1,355,749)
(329,595)
(230,959)
Net surplus before taxation
Taxation
6,952,503
(521,077)
1,496,568
(81,191)
15,714,457
(1,122,576)
3,436,919
(248,283)
1,267,243
(119,855)
NET SURPLUS FOR THE
FINANCIAL YEAR
6,431,426
1,415,377
14,591,881
3,188,636
1,147,388
brought forward
9,450,475
4,007,075
16,412,455
2,503,726
2,935,780
-
-
-
-
15,881,901
5,422,452
31,004,336
5,692,362
Distribution of surplus upon
maturity of fund
carried forward
39
(4,083,168)
-
Company No.
731996
H
MAA TAKAFUL BERHAD
STATEMENT OF INCOME AND EXPENDITURE FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2013 (CONTINUED)
Balanced
Fund 2
RM
INCOME
Profit Income
Dividend Income
Profit on disposal
Equity securities
Debt securities
Equity securities
TOTAL INCOME
Income
Fund 2
RM
Growth
Fund 2
RM
Flexi
Fund 2
RM
26,199
59,483
348,423
22,076
24,197
123,390
47,042
228,090
21,690
144,157
21,433
46,915
117,248
224,620
514,656
232,944
401,964
414,875
736,922
(26,926)
(98,249)
(72,876)
(127,096)
(6,057)
(545)
(33,528)
(175,861)
(62,473)
(10,561)
(347,144)
(72,876)
(127,096)
Taxation
191,092
(17,441)
167,512
(21,260)
329,088
(32,156)
609,826
(58,953)
NET SURPLUS FOR THE
FINANCIAL YEAR
173,651
146,252
296,932
550,873
brought forward
-
-
-
-
carried forward
173,651
146,252
296,932
550,873
OUTGO
Management fees and
Unrealised capital loss
Debt securities
Equity securities
TOTAL OUTGO
40
Company No.
731996
H
MAA TAKAFUL BERHAD
STATEMENT OF INCOME AND EXPENDITURE FOR FINANCIAL THE YEAR ENDED 31 DECEMBER 2012
Balanced
Fund
RM
INCOME
Profit Income
Dividend Income
Profit on disposal
Debt securities
Equity securities
Debt securities
Equity securities
Others
TOTAL INCOME
OUTGO
Management fees and
TOTAL OUTGO
Income
Fund
RM
Growth
Fund
RM
Flexi
Fund
RM
Structured
Invest
Fund
RM
991,691
840,475
1,232,376
187,985
302,513
2,146,717
126,585
472,471
88,229
-
141,790
2,143,318
87,820
346,697
3,209,353
1,064,279
-
75,634
100,566
4,293,474
364,220
95,000
2,314,098
2,333,679
7,992,262
191,152
1,854,487
2,770,185
2,858,414
(719,274)
(624)
(719,898)
(319,136)
(46,100)
(365,236)
(1,113,299)
(1,113,299)
(266,199)
(266,199)
(228,306)
(228,306)
Taxation
3,573,575
(343,428)
1,948,862
(181,440)
6,878,963
(639,381)
1,588,288
(148,359)
2,630,108
(228,673)
NET SURPLUS FOR THE
FINANCIAL YEAR
3,230,147
1,767,422
6,239,582
1,439,929
2,401,435
brought forward
6,220,328
2,239,653
10,172,873
1,063,797
534,345
carried forward
9,450,475
4,007,075
16,412,455
2,503,726
2,935,780
41
Company No.
731996
H
MAA TAKAFUL BERHAD
STATEMENT OF CHANGES IN NET ASSET VALUE FOR THE FINANCIALYEAR ENDED 31 DECEMBER 2013
Balanced
Fund
RM
Net asset value at
beginning of financial year
Income
Fund
RM
Growth
Fund
RM
Flexi
Fund
RM
Structured
Invest
Fund
RM
60,267,910
37,316,412
82,264,657
22,455,268
44,177,868
15,924,639
(10,592,008)
7,850,900
(15,268,021)
22,727,729
(13,974,735)
11,627,804
(8,688,344)
(13,679)
(44,164,189)
(2,349,916)
63,250,625
215,802
30,115,093
(3,006,260)
88,011,391
(3,404,157)
21,990,571
4,879,154
1,940,337
8,143,459
2,120,504
1,147,388
1,552,272
6,431,426
(524,960)
1,415,377
6,448,422
14,591,881
1,068,132
3,188,636
1,147,388
Movements due to units
created and cancelled
during the financial year :
Net creation of units
Net cancellation of units
Net switching of units
Net income for the
financial year :
Net realised income
Unrealised capital
gain/(loss) net of tax
on investments
Distribution of surplus for
the financial year upon
maturity of fund
Net asset value at end
of financial year
-
69,682,051
-
31,530,470
42
-
102,603,272
-
25,179,207
-
(1,147,388)
-
Company No.
731996
H
MAA TAKAFUL BERHAD
Balanced
Fund 2
RM
Net asset value at
Income
Fund 2
RM
-
-
Growth
Fund 2
RM
-
Flexi
Fund 2
RM
-
3,071,073
(3,371)
24,137,734
(18)
Net switching of units
(8,753)
3,058,949
24,137,716
3,200,969
11,125,829
5,350,563
19,977,577
71,355
365,519
82,623
169,188
102,296
173,651
(219,267)
146,252
214,309
296,932
381,685
550,873
11,422,761
20,528,450
Net income for the
financial year :
Net realised income
Unrealised capital
gain/(loss) net of tax
on investments
of financial year
3,232,600
24,283,968
43
8,561,980
(637,120)
17,582,486
(2,955,472)
Company No.
731996
H
MAA TAKAFUL BERHAD
Balanced
Fund
RM
Net asset value at
Income
Fund
RM
Growth
Fund
RM
Flexi
Fund
RM
Structured
Invest
Fund
RM
46,126,936
21,330,079
64,706,760
17,532,198
41,861,791
19,593,301
(8,682,474)
57,037,763
28,142,604
(13,923,693)
35,548,990
26,103,529
(14,785,214)
76,025,075
11,767,330
(8,284,189)
21,015,339
(85,358)
41,776,433
3,068,044
1,344,940
4,092,597
1,264,069
162,103
3,230,147
422,482
1,767,422
2,146,985
6,239,582
175,860
1,439,929
2,548,570
2,401,435
60,267,910
37,316,412
82,264,657
22,455,268
44,177,868
Net income for the
financial year :
Net realised income/(loss)
Unrealised capital
gain net of tax on
investments
of financial year
44
(147,135)
Company No.
731996
H
MAA TAKAFUL BERHAD
(MAA Takaful Shariah Balanced Fund, MAA Takaful Shariah Income Fund, MAA Takaful Shariah Growth Fund, MAA
Takaful Shariah Flexi Fund, MAA Takaful Takafulink Structured Invest Fund, MAA Shariah Balanced Fund 2,
NOTES TO THE FINANCIAL INFORMATION - 31 DECEMBER 2013
1.
PRINCIPAL ACTIVITIES AND GENERAL INFORMATION
The MAA Takaful Investment-Linked Funds consist of the MAA Takaful Shariah Balanced Fund, MAA
Takaful Shariah Income Fund, MAA Takaful Shariah Growth Fund, MAA Takaful Shariah Flexi Fund, MAA
Takafulink Structured Invest Fund, MAA Takaful Shariah Balanced Fund 2, MAA Takaful Shariah Income
Fund 2, MAA Takaful Shariah Growth Fund 2 and MAA Takaful Shariah Flexi Fund 2 (hereinafter referred to
collectively as "the Funds"). The principal activities of the Funds are to invest in authorised investments.
During the financial year, MAA Takafulink Structured Invest Fund has matured on 30 December 2013.
The financial information for MAAT Takaful Shariah Balanced Fund 2, MAAT Takaful Shariah Income Fund
2, MAAT Takaful Shariah Growth Fund 2 and MAAT Takaful Shariah Flexi Fund 2 have been prepared for
the financial period ended 31 December 2013 as the launch date of the funds was on 16 April 2013.
The Manager of the Funds is MAA Takaful Berhad, a company incorporated in Malaysia, whose principal
activity is that of conducting General and Family Takaful business, including investment-linked Family
business.
The financial statements were authorised for issued by the Board of Directors of the Manager in accordance
with their resolution on 25 April 2014.
2.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The following accounting policies have been used consistently in dealing with items which are considered
material in relation to the financial information.
(a)
Basis of preparation
The financial information of the Funds have been prepared under the historial cost convention, except
as disclosed in the summary of significant accounting policies as described below and the Guidelines
on Investment-Linked Insurance/Takaful Business issued by Bank Negara Malaysia.
The preparation of the financial information requires the use of estimates and assumptions that affect
the reported amount of assets and libilities and disclosure of contingent assets and liabilities at the
date of the financial information, and the reported amounts of income and expenses during the
reported financial year. It also requires Manager to exercise its judgement in the process of applying
the Company's accounting policies. Although these estimates are based on the Manager's best
knowledge of current events and actions, actual results may differ from those estimates.
However, the Manager is of the opinion that there are currently no areas where assumptions and
estimates that have a significant risk of causing a material adjustment to the carrying amount of assets
and liabilities within the next financial year and no accounting policies which requires significant
judgement to be exercised.
(b)
Income recognition
Profit income on fixed and call deposits and unquoted investments, including the amount of
amortisation of premiums and accretion of discounts, is recognised on a time proportion basis that
takes into account the effective yield of the asset.
45
Company No.
731996
H
MAA TAKAFUL BERHAD
NOTES TO THE FINANCIAL INFORMATION - 31 DECEMBER 2013 (CONTINUED)
2.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
(b)
Income recognition (continued)
Dividend income is recognised when the right to receive payment is established.
Gains or losses arising from the disposal of investments are credited or charged to the statement of
income and expenditure.
(c)
Investment management fees
Investment management fees are calculated based on the Net Asset Values of the Funds in
accordance with the provisions of the investment-linked certificate document and are charged to the
statement of income and expenditure when incurred.
(d)
Taxation
Taxation on the statement of income and expenditure comprises current and deferred tax. Current tax
is the expected amount of tax payable in respect of the taxable income for the financial year, using tax
rate enacted or substantially enacted at the date of the statement of assets and liabilities, and any
adjustment to tax payable in respect of previous financial years.
Deferred tax is recognised in full, using the liability method, on temporary differences arising between
the amounts attributed to assets and liabilities for tax purpose and their carrying amounts in the
financial information.
Deferred tax assets are recognised to the extent that it is probable that taxable profits will be available
against which the deductible temporary differences or unused tax losses can be utilised.
Deferred tax is determined using tax rate (and tax laws) enacted or substantively enacted by the date
of the statement of assets and liabilities.
(e)
Investments
Quoted investments are valued at the market values at the date of the statement of assets and
liabilities. Market value is determined by reference to the stock exchange closing price at the date of
the statement of assets and liabilities.
Unquoted investments are stated at the prices quoted by financial institutions at the date of the
statement of assets and liabilities.
Any increase or decrease in the value of these investments is credited or charged to the statement of
income and expenditure.
(f)
Net creation of units represents contributions paid by participants as payment for a new contract or
subsequent payments to increase the amount of that contract. Net creation of units is recognised on a
receipt basis.
46
Company No.
731996
H
MAA TAKAFUL BERHAD
2.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
(g)
Net cancellation of units represents cancellation of units arising from surrenders and withdrawals.
Cancellation is recognised upon surrendering of the related takaful contract.
(h)
Cash and cash equivalents
Cash and cash equivalents consist of cash and bank balances, excluding fixed and call deposits that
are readily convertible to known amounts of cash and which are subject to an insignificant risk of
changes in value.
(i)
Financial instruments
Description
A financial instrument is any contract that gives rise to both a financial asset of one enterprise and a
financial liability or equity instrument of another enterprise.
A financial asset is any asset that is cash, a contractual right to receive cash or another financial asset
from another enterprise, a contractual right to exchange financial instruments with another enterprise
under conditions that are potentially favourable, or an equity instrument of another enterprise.
A financial liability is any liability that is a contractual obligation to deliver cash or another financial
asset to another enterprise, or to exchange financial instruments with another enterprise under
conditions that are potentially unfavourable.
The particular recognition method adopted for financial instruments recognised on the statement of
assets and liabilities is disclosed in the individual accounting policy note associated with each item.
The Company's basis of estimation of fair values for financial instruments is as follows:
• Malaysian Government Securities and Treasury bills/Bank Negara Malaysia papers are based
on the indicative market prices.
• Quoted investments are based on quoted market prices.
(j)
Comparative
As this is the first set of financial information since the launch of the MAA Takaful Shariah Balanced
Fund 2, MAA Takaful Shariah Income Fund 2, MAA Takaful Shariah Growth Fund 2 and MAA Takaful
Shariah Flexi Fund 2, no comparatives are available.
47
Company No.
731996
H
MAA TAKAFUL BERHAD
(MAA Takaful Shariah Balanced Fund, MAA Takaful Shariah Income Fund, MAA Takaful Shariah Growth Fund, MAA Takaful Shariah Flexi Fund, MAA Takaful Takafulink Structured
Invest Fund, MAA Shariah Balanced Fund 2, MAA Shariah Income Fund 2, MAA Shariah Growth Fund 2, MAA Shariah Flexi Fund 2)
NOTES TO THE FINANCIAL INFORMATION - 31 DECEMBER 2013
3.
QUOTED INVESTMENTS
2013
Balanced Fund
Cost
RM
Market Value
RM
Income Fund
Cost
RM
Market Value
RM
Growth Fund
Cost
RM
Market Value
RM
Flexi Fund
Cost
RM
Market Value
RM
Shares/warrants
Sector
Main Market
Construction
Finance
Industrial products
IPC
Plantation
Properties
Trading services
Consumer products
TOTAL
3,152,475
2,378,349
5,762,778
2,683,445
4,063,351
94,482
26,295,219
44,430,099
3,259,872
2,705,797
6,267,147
2,931,945
3,895,691
404,233
29,376,544
48,841,229
519,928
427,249
540,620
477,175
699,383
16,280
5,119,942
7,800,577
534,240
481,830
547,296
505,505
681,459
69,653
5,605,407
8,425,390
1,752,264
2,851,702
12,899,535
5,585,386
10,720,818
240,474
48,322,996
82,373,175
2,088,480
3,556,544
15,717,175
5,985,917
10,683,035
1,028,846
57,075,392
96,135,389
1,425,432
1,277,315
2,916,096
1,211,544
2,198,838
52,388
13,324,002
22,405,615
1,462,944
1,432,394
3,221,660
1,332,365
2,100,244
224,140
14,838,235
24,611,982
439,068
439,068
442,000
442,000
67,640
67,640
68,000
68,000
2,320,292
2,320,292
2,447,607
2,447,607
209,430
209,430
210,800
210,800
44,869,167
49,283,229
7,868,217
8,493,390
84,693,467
98,582,996
22,615,045
24,822,782
48
Company No.
731996
H
MAA TAKAFUL BERHAD
3.
QUOTED INVESTMENTS (CONTINUED)
2013
Balanced Fund 2
Income Fund 2
Cost
RM
Market Value
RM
Cost
RM
74,945
348,696
75,228
78,947
291,801
1,075,554
73,771
2,018,942
75,264
341,144
61,770
89,640
286,242
1,159,271
122,679
2,136,010
433,457
444,567
438,205
1,316,229
Market Value
RM
Growth Fund 2
Cost
RM
Market Value
RM
Flexi Fund 2
Cost
RM
Market Value
RM
Shares/warrants
Sector
Main Market
Construction
Industrial products
IPC
Plantation
Properties
Trading Services
Technology
Warrant
Consumer Products
TOTAL
74,573
74,573
74,753
74,753
-
2,093,515
2,210,763
1,316,229
353,460
441,826
437,920
20,550
1,253,756
1,253,756
49
1,345,308
1,016,369
365,173
470,098
987,392
5,026,659
73,771
9,284,770
1,146,374
996,122
441,915
510,072
912,267
5,363,479
122,679
26,793
9,519,701
2,547,337
2,002,790
667,811
821,190
2,006,047
9,588,646
114,122
17,747,943
2,160,162
1,968,482
830,870
901,423
1,840,494
10,229,645
184,494
55,899
18,171,469
142,624
142,624
140,637
140,637
296,260
296,260
287,609
287,609
9,427,394
9,660,338
18,044,203
18,459,078
Company No.
731996
H
MAA TAKAFUL BERHAD
3.
2012
Balanced Fund
Cost
RM
Market Value
RM
Income Fund
Cost
RM
Market Value
RM
Growth Fund
Cost
RM
Market Value
RM
Flexi Fund
Cost
RM
Market Value
RM
Shares/warrants
Sector
Main Market
Construction
Finance
Industrial
IPC
Plantation
Properties
Trading Services
Consumer Products
REIT
TOTAL
1,342,774
1,709,649
2,829,663
5,355,061
7,240,769
288,936
9,905,464
28,672,316
1,354,974
1,772,528
3,123,927
5,549,325
7,675,796
273,000
11,175,614
30,925,164
291,096
567,515
755,223
1,413,924
1,798,939
75,592
2,403,627
7,305,916
296,155
529,670
779,139
1,422,665
1,893,104
71,400
2,596,430
7,588,563
4,577,013
1,399,734
6,983,818
11,632,896
11,480,880
1,747,391
24,941,553
62,763,285
4,505,662
1,761,870
7,919,907
12,968,793
11,935,506
1,947,120
28,234,346
69,273,204
698,708
868,063
1,392,772
2,968,912
3,582,663
151,182
5,461,257
15,123,557
704,085
906,898
1,534,910
3,073,356
3,802,744
142,800
6,046,000
16,210,793
682,863
387,453
1,070,316
643,314
345,720
989,034
171,792
171,792
160,378
160,378
4,155,008
4,155,008
4,525,464
4,525,464
365,858
191,303
557,161
345,984
170,667
516,651
29,742,632
31,914,198
7,477,708
7,748,941
66,918,293
73,798,668
15,680,718
16,727,444
There were no quoted investment held by the Structured Invest Fund as at 31 December 2013 and 31 December 2012.
50
Company No.
731996
H
MAA TAKAFUL BERHAD
3.
EQUITY ALLOCATION - 31 DECEMBER 2013
MAA TAKAFUL
SHARIAH BALANCED FUND
No. of shares
Unit
Total Cost
RM
Market Value
RM
% of Net
Asset Value
%
460,500
138,000
104,400
702,900
2,124,022
801,833
226,620
3,152,475
2,210,400
811,440
238,032
3,259,872
3.09
1.14
0.33
4.56
558,360
61,400
619,760
1,843,863
534,486
2,378,349
2,073,377
632,420
2,705,797
2.91
0.88
3.79
36,900
157,900
102,500
280,300
166,700
108,600
184,000
1,036,900
248,259
415,223
292,359
896,412
1,157,641
2,265,264
487,620
5,762,778
253,503
541,597
289,050
882,945
1,153,564
2,636,808
509,680
6,267,147
0.36
0.76
0.40
1.24
1.61
3.69
0.71
8.77
454,500
208,500
663,000
2,119,016
564,429
2,683,445
2,254,320
677,625
2,931,945
3.15
0.95
4.10
2013
Main Market
CONSTRUCTION
Gamuda Bhd
IJM Corporation Bhd
Muhibbah Engineering (M) Bhd
FINANCE
BIMB Holdings Bhd
Syarikat Takaful Malaysia Bhd
INDUSTRIAL PRODUCTS
Cahya Mata Sarawak Bhd
Coastal Contracts Bhd
DRB-Hicom Bhd
Favelle Favco Bhd
Petronas Chemicals Group Bhd
Petronas Gas Bhd
Supermax Corporation Bhd
INFRASTRUCTURE PROJECT
COMPANY (IPC)
Digi.com Bhd
Puncak Niaga Holdings Bhd
51
Company No.
731996
H
MAA TAKAFUL BERHAD
3.
EQUITY ALLOCATION - 31 DECEMBER 2013 (CONTINUED)
MAA TAKAFUL
No. of shares
Unit
Total Cost
RM
Market Value
RM
% of Net
Asset Value
%
87,080
322,100
49,400
297,400
755,980
758,026
1,792,715
1,211,700
300,910
4,063,351
866,010
1,517,091
1,230,060
282,530
3,895,691
1.21
2.12
1.72
0.40
5.45
161,049
94,482
404,233
0.57
33,000
231,900
489,000
369,600
175,400
237,900
160,800
29,700
104,100
413,200
181,600
566,720
235,000
64,000
56,400
56,000
403,000
231,900
7,090
296,000
562,000
363,900
5,268,210
504,096
346,467
3,222,059
634,150
863,341
658,439
401,051
120,065
195,295
2,881,627
1,008,931
788,210
414,045
1,800,184
273,929
266,906
1,583,901
2,208,818
62,606
1,651,562
5,163,456
1,246,081
26,295,220
462,000
364,083
3,374,100
609,840
1,015,566
851,682
410,040
114,939
199,872
3,003,964
1,035,120
901,085
716,750
2,012,160
250,980
306,880
1,974,700
2,207,688
67,497
1,642,800
6,395,559
1,459,239
29,376,544
0.65
0.51
4.72
0.85
1.42
1.19
0.57
0.16
0.28
4.20
1.45
1.26
1.00
2.82
0.35
0.43
2.76
3.09
0.09
2.30
8.95
2.04
41.09
2013
Main Market (continued)
PLANTATION
Genting Plantations Bhd
IOI Corporation Bhd
Kuala Lumpur Kepong Bhd
TDM Bhd
PROPERTIES
IOI Properties Group Bhd
TRADING SERVICES
Aeon Co. (M) Bhd
Alam Maritim Resources Bhd
Axiata Group Bhd
Berjaya Auto Bhd
Dayang Enterprise Holdings Bhd
Dialog Group Bhd
Faber Group Bhd
Gas Malaysia Bhd
Kumpulan Perangsang Selangor
Maxis Bhd
MISC Bhd - Local
Perdana Petroleum Bhd
Pestech International Bhd
Petronas Dagangan Bhd
Pharmaniaga Bhd
Pos Malaysia Bhd
SapuraKencana Petroleum Bhd
Sime Darby Bhd
Sime Darby Bhd -A
Telekom Malaysia Bhd
Tenaga Nasional Bhd
UMW Oil and Gas Corporation Bhd
52
Company No.
731996
H
MAA TAKAFUL BERHAD
3.
MAA TAKAFUL
No. of shares
Unit
Total Cost
RM
Market Value
RM
% of Net
Asset Value
%
6,500
439,068
442,000
0.62
9,214,299
44,869,167
49,283,229
68.95
No. of shares
Unit
Total Cost
RM
Market Value
RM
% of Net
Asset Value
%
81,900
24,000
380,346
139,582
393,120
141,120
1.32
0.47
105,900
519,928
534,240
1.79
93,420
13,100
106,520
311,945
115,304
427,249
346,900
134,930
481,830
1.17
0.45
1.62
6,300
23,500
17,500
28,000
28,500
32,000
135,800
41,782
75,542
49,978
86,900
201,599
84,819
540,620
43,281
80,605
49,350
88,200
197,220
88,640
547,296
0.14
0.27
0.17
0.30
0.66
0.30
1.84
2013
CONSUMER PRODUCTS
Nestle Malaysia Bhd
TOTAL
MAA TAKAFUL
SHARIAH INCOME FUND
2013
Main Market
CONSTRUCTION
Gamuda Bhd
IJM Corporation Bhd
FINANCE
BIMB Holdings Bhd
INDUSTRIAL PRODUCTS
DRB-Hicom Bhd
Favelle Favco Bhd
53
Company No.
731996
H
MAA TAKAFUL BERHAD
3.
MAA TAKAFUL
SHARIAH INCOME FUND
No. of shares
Unit
Total Cost
RM
Market Value
RM
% of Net
Asset Value
%
78,000
36,500
114,500
367,523
109,652
477,175
386,880
118,625
505,505
1.30
0.40
1.70
15,280
55,500
8,700
55,400
134,880
129,749
300,336
213,228
56,070
699,383
150,794
261,405
216,630
52,630
681,459
0.50
0.88
0.73
0.18
2.29
27,750
16,280
69,653
0.23
4,600
82,000
109,600
30,400
41,500
27,300
33,100
72,000
32,000
29,960
23,600
10,100
34,500
78,000
38,500
1,177
53,500
104,800
73,100
879,737
71,495
553,196
201,186
141,015
114,149
68,846
136,401
504,117
176,182
40,576
677,682
48,970
182,655
303,359
368,892
10,393
298,786
970,503
251,539
5,119,942
64,400
565,800
180,840
176,016
148,570
69,615
128,097
523,440
182,400
47,636
741,984
44,945
189,060
382,200
366,520
11,205
296,925
1,192,624
293,130
5,605,407
0.23
1.90
0.60
0.59
0.50
0.23
0.43
1.76
0.61
0.16
2.49
0.15
0.63
1.28
1.23
0.04
1.00
4.00
0.98
18.81
2013
COMPANY (IPC)
Digi.com Bhd
PLANTATION
IOI Corporation Bhd
TDM Bhd
PROPERTIES
TRADING SERVICES
Aeon Co. (M) Bhd
Axiata Group Bhd
Berjaya Auto Bhd
Dialog Group Bhd
Faber Group Bhd
Gas Malaysia Bhd
Maxis Bhd
MISC Bhd - Local
Pharmaniaga Bhd
Pos Malaysia Bhd
Sime Darby Bhd
Sime Darby Bhd -A
Tenaga Nasional Bhd
54
Company No.
731996
H
MAA TAKAFUL BERHAD
3.
MAA TAKAFUL
SHARIAH INCOME FUND
No. of shares
Unit
Total Cost
RM
Market Value
RM
% of Net
Asset Value
%
1,000
67,640
68,000
0.23
1,506,087
7,868,217
8,493,390
28.51
No. of shares
Unit
Total Cost
RM
Market Value
RM
% of Net
Asset Value
%
435,100
1,752,264
2,088,480
1.97
555,600
100,400
656,000
1,934,147
917,555
2,851,702
2,522,424
1,034,120
3,556,544
2.38
0.97
3.35
233,500
165,100
197,400
137,500
445,500
452,500
265,300
180,000
2,076,800
1,470,834
533,929
528,368
861,451
1,268,172
3,086,844
4,662,937
487,000
12,899,535
1,604,145
566,293
556,668
994,125
1,924,560
3,131,300
6,441,484
498,600
15,717,175
1.52
0.53
0.52
0.94
1.82
2.95
6.07
0.47
14.82
2013
CONSUMER PRODUCTS
Nestle Malaysia Bhd
TOTAL
MAA TAKAFUL
SHARIAH GROWTH FUND
2013
Main Market
CONSTRUCTION
Gamuda Bhd
FINANCE
BIMB Holdings Bhd
INDUSTRIAL PRODUCTS
DRB-Hicom Bhd
Hartalega Holdings Bhd
Kossan Rubber Industries
Petronas Gas Bhd
55
Company No.
731996
H
MAA TAKAFUL BERHAD
3.
MAA TAKAFUL
SHARIAH GROWTH FUND
No. of shares
Unit
Total Cost
RM
Market Value
RM
% of Net
Asset Value
%
1,107,700
151,300
1,259,000
5,112,990
472,396
5,585,386
5,494,192
491,725
5,985,917
5.19
0.46
5.65
229,300
797,200
79,500
64,000
865,100
391,600
2,426,700
2,357,245
4,212,856
1,896,548
405,552
743,082
1,105,535
10,720,818
2,531,472
3,754,812
1,979,550
416,640
821,845
1,178,716
10,683,035
2.39
3.54
1.87
0.39
0.78
1.11
10.08
409,899
240,474
1,028,846
0.97
44,300
1,075,400
632,900
237,400
378,300
816,500
432,600
214,400
895,500
343,400
472,360
595,900
159,700
901,180
495,607
6,794,843
1,020,727
482,251
1,571,413
2,312,298
1,132,795
798,023
6,186,923
1,835,759
654,631
799,743
3,951,082
3,574,131
620,200
7,420,260
1,044,285
467,678
2,190,357
2,923,070
1,103,130
829,728
6,510,285
1,957,380
751,052
947,481
5,020,968
4,415,782
0.58
7.00
0.98
0.44
2.07
2.76
1.04
0.78
6.14
1.85
0.71
0.89
4.74
4.16
2013
COMPANY (IPC)
Digi.com Bhd
PLANTATION
IOI Corporation Bhd
Sarawak Oil Palms Bhd
TDM Bhd
TSH Resources Bhd
PROPERTIES
TRADING SERVICES
Aeon Co. (M) Bhd
Axiata Group Bhd
Berjaya Auto Bhd
Caring Pharmacy Group
Dialog Group Bhd
Faber Group Bhd
Gas Malaysia Bhd
Maxis Bhd
MISC Bhd - Local
Perisai Petroleum Teknologi
56
Company No.
731996
H
MAA TAKAFUL BERHAD
3.
MAA TAKAFUL
SHARIAH GROWTH FUND
No. of shares
Unit
Total Cost
RM
Market Value
RM
% of Net
Asset Value
%
470,400
14,383
330,400
884,500
1,087,100
9,986,623
4,504,284
127,004
1,800,260
6,919,010
3,362,212
48,322,996
4,478,208
136,926
1,833,720
10,065,610
4,359,272
57,075,392
4.22
0.13
1.73
9.49
4.11
53.82
197,700
11,400
77,200
286,300
657,993
765,426
896,873
2,320,292
741,375
775,200
931,032
2,447,607
0.70
0.73
0.88
2.31
17,536,422
84,693,467
98,582,996
92.97
No. of shares
Unit
Total Cost
RM
Market Value
RM
% of Net
Asset Value
%
183,000
77,000
57,800
317,800
850,622
447,516
127,294
1,425,432
878,400
452,760
131,784
1,462,944
3.26
1.68
0.49
5.43
290,880
34,200
325,080
979,346
297,969
1,277,315
1,080,134
352,260
1,432,394
4.00
1.31
5.31
2013
TRADING SERVICES (CONTINUED)
Sime Darby Bhd
Sime Darby Bhd -A
Tenaga Nasional Bhd
CONSUMER PRODUCTS
Bonia Corporation Bhd
Nestle Malaysia Bhd
UMW Holdings Bhd
TOTAL
MAA TAKAFUL
SHARIAH FLEXI FUND
2013
Main Market
CONSTRUCTION
Gamuda Bhd
IJM Corporation Bhd
FINANCE
BIMB Holdings Bhd
57
Company No.
731996
H
MAA TAKAFUL BERHAD
3.
MAA TAKAFUL
SHARIAH FLEXI FUND
No. of shares
Unit
Total Cost
RM
Market Value
RM
% of Net
Asset Value
%
20,000
87,100
58,000
67,500
90,300
62,200
99,000
484,100
133,317
228,982
165,492
222,130
627,246
1,276,522
262,407
2,916,096
137,400
298,753
163,560
212,625
624,876
1,510,216
274,230
3,221,660
0.51
1.10
0.61
0.79
2.32
5.60
1.02
11.95
191,500
117,700
309,200
892,934
318,610
1,211,544
949,840
382,525
1,332,365
3.52
1.42
4.94
44,980
178,600
25,800
182,400
431,780
387,611
994,229
632,729
184,269
2,198,838
443,338
841,206
642,420
173,280
2,100,244
1.65
3.12
2.38
0.64
7.79
89,299
52,388
224,140
0.83
2013
INDUSTRIAL PRODUCTS
DRB-Hicom Bhd
Favelle Favco Bhd
Petronas Gas Bhd
COMPANY (IPC)
Digi.com Bhd
PLANTATION
IOI Corporation Bhd
TDM Bhd
PROPERTIES
58
Company No.
731996
H
MAA TAKAFUL BERHAD
3.
MAA TAKAFUL
SHARIAH FLEXI FUND
No. of shares
Unit
Total Cost
RM
Market Value
RM
% of Net
Asset Value
%
10,900
119,500
251,200
169,600
99,400
134,500
84,000
31,600
59,000
221,900
92,600
245,240
122,400
35,500
31,900
32,000
227,500
138,700
4,241
158,500
220,000
194,900
2,685,081
165,900
178,343
1,645,959
308,077
489,343
376,923
209,379
129,791
110,523
1,552,167
515,286
341,703
222,529
994,747
155,197
152,557
893,286
1,329,043
37,448
884,487
1,970,650
660,664
13,324,002
152,600
187,615
1,733,280
279,840
575,526
481,510
214,200
122,292
113,280
1,613,213
527,820
389,932
373,320
1,116,120
141,955
175,360
1,114,750
1,320,424
40,374
879,675
2,503,600
781,549
14,838,235
0.57
0.70
6.43
1.04
2.13
1.79
0.79
0.45
0.42
5.98
1.96
1.45
1.38
4.14
0.53
0.65
4.13
4.90
0.15
3.26
9.29
2.90
55.04
3,100
209,430
210,800
0.78
4,645,440
22,615,045
24,822,782
92.07
2013
TRADING SERVICES
Aeon Co. (M) Bhd
Alam Maritim Resources Bhd
Axiata Group Bhd
Berjaya Auto Bhd
Dialog Group Bhd
Faber Group Bhd
Gas Malaysia Bhd
Kumpulan Perangsang Selangor
Maxis Bhd
MISC Bhd - Local
Pestech International Bhd
Pharmaniaga Bhd
Pos Malaysia Bhd
Sime Darby Bhd
Sime Darby Bhd -A
Tenaga Nasional Bhd
CONSUMER PRODUCTS
Nestle Malaysia Bhd
TOTAL
59
Company No.
731996
H
MAA TAKAFUL BERHAD
3.
MAA TAKAFUL
SHARIAH BALANCED FUND 2
No. of shares
Unit
Total Cost
RM
Market Value
RM
% of Net
Asset Value
%
12,800
74,945
75,264
2.30
13,700
18,900
6,800
11,300
46,200
96,900
74,253
63,448
74,999
74,473
61,523
348,696
79,323
64,827
58,276
78,196
60,522
341,144
2.42
1.98
1.78
2.39
1.85
10.43
17,400
75,228
61,770
1.89
3,600
78,947
89,640
2.74
68,200
26,700
45,600
21,000
161,500
60,159
76,523
76,693
78,426
291,801
56,265
97,455
69,312
63,210
286,242
1.72
2.98
2.12
1.93
8.75
24,200
20,400
10,500
48,600
31,200
11,500
75,255
139,433
75,623
79,616
62,553
80,200
53,240
140,760
78,750
123,930
60,216
83,605
1.63
4.30
2.41
3.79
1.84
2.56
2013
Main Market
CONSTRUCTION
IJM Corporation Bhd
INDUSTRIAL PRODUCTS
Apm Automotive Holdings Berhad
Lafarge Malayan Cement Bhd
Petronas Chemicals Group Berhad
WTK Holdings Berhad
COMPANY (IPC)
Time Dotcom Berhad
PLANTATION
PROPERTIES
Malton Berhad
NAIM Holdings Berhad
Paramount Corporation Berhad
SP Setia Berhad
TRADING SERVICES
AirAsia Bhd
Axiata Group Berhad
Bintulu Port Holdings Berhad
Faber Group Berhad
Kumpulan Fima Berhad
Maxis Berhad
60
Company No.
731996
H
MAA TAKAFUL BERHAD
3.
MAA TAKAFUL
No. of shares
Unit
Total Cost
RM
Market Value
RM
% of Net
Asset Value
%
3,000
7,800
28,900
24,500
9,200
66,200
46,100
332,100
75,114
74,286
62,578
134,561
77,198
56,866
82,271
1,075,554
94,320
74,256
76,585
135,975
104,696
58,256
74,682
1,159,271
2.88
2.27
2.34
4.16
3.20
1.78
2.28
35.43
38,700
73,771
122,679
3.75
41,300
74,573
74,753
2.28
704,300
2,093,515
2,210,763
67.57
No. of shares
Unit
Total Cost
RM
Market Value
RM
% of Net
Asset Value
%
274,000
433,457
353,460
1.45
292,600
444,567
441,826
1.81
2013
TRADING SERVICES
Sime Darby Berhad
Suria Capital Holdings Berhad
Telekom Malaysia Berhad
Tenaga Nasional Bhd
TH Heavy Engineering Berhad
YTL Corporation Berhad
TECHNOLOGY
Globetronics Technology Berhad
CONSUMER PRODUCTS
IJM Corporation Berhad
TOTAL
MAA TAKAFUL
SHARIAH INCOME FUND 2
2013
Main Market
CONSTRUCTION
Malaysian Resources Corporation
Berhad
PROPERTIES
Tambun Indah Land Berhad
61
Company No.
731996
H
MAA TAKAFUL BERHAD
3.
MAA TAKAFUL
No. of shares
Unit
Total Cost
RM
Market Value
RM
% of Net
Asset Value
%
46,000
438,205
437,920
1.79
20,550
0.08
2013
TRADING SERVICES
Sime Darby Berhad
WARRANT
Berhad
TOTAL
MAA TAKAFUL
SHARIAH GROWTH FUND 2
91,333
-
703,933
1,316,229
1,253,756
5.13
No. of shares
Unit
Total Cost
RM
Market Value
RM
% of Net
Asset Value
%
163,400
141,400
35,800
102,000
230,460
205,710
206,572
207,727
138,890
147,056
210,504
186,660
1.24
1.28
1.84
1.63
131,300
54,900
82,300
711,100
204,436
77,625
212,778
1,345,308
169,377
125,172
168,715
1,146,374
1.48
1.09
1.47
10.03
60,400
19,900
30,300
77,800
147,500
335,900
202,764
211,281
201,654
204,536
196,134
1,016,369
207,172
170,543
209,676
215,506
193,225
996,122
1.81
1.49
1.83
1.88
1.69
8.70
2013
Main Market
CONSTRUCTION
Benalec Holdings Berhad
Eversendai Corporation Berhad
Kimlun Corporation Berhad
Berhad
WCT Berhad
INDUSTRIAL PRODUCTS
Supermax Corporation Berhad
WTK Holdings Berhad
62
Company No.
731996
H
MAA TAKAFUL BERHAD
3.
MAA TAKAFUL
No. of shares
Unit
Total Cost
RM
Market Value
RM
% of Net
Asset Value
%
59,300
71,200
130,500
226,904
138,269
365,173
210,515
231,400
441,915
1.84
2.02
3.86
49,200
8,600
7,800
65,600
223,814
78,136
168,148
470,098
220,908
94,944
194,220
510,072
1.93
0.83
1.70
4.46
218,400
26,700
97,200
61,000
96,600
66,700
566,600
192,651
76,523
159,010
213,147
139,893
206,168
987,392
180,180
97,455
147,744
183,610
145,866
157,412
912,267
1.59
0.85
1.29
1.60
1.27
1.37
7.97
128,900
74,500
34,500
17,600
49,400
72,200
48,600
102,700
45,000
2,000
197,156
214,350
232,979
126,717
193,313
192,852
202,898
205,903
191,656
5,600
202,373
163,900
238,050
132,000
199,082
258,476
187,596
198,211
174,600
9,720
1.78
1.43
2.08
1.15
1.74
2.26
1.64
1.73
1.52
0.08
65,000
29,900
230,376
205,867
227,500
217,373
1.99
1.90
2013
COMPANY (IPC)
Time Dotcom Berhad
Puncak Niaga Holdings Berhad
PLANTATION
Felda Global Ventures Holdings
Berhad
Genting Plantations Berhad
Kuala Lumpur Kepong Berhad
PROPERTIES
Malton Berhad
SP Setia Berhad
UEM Sunrise Berhad
TRADING SERVICES
Alam Maritim Resources Berhad
AirAsia Bhd
Axiata Group Berhad
Bumi Armada Berhad
Dialog Group Berhad
IHH Healthcare Berhad
KPJ Healthcare Berhad^
KPJ Healthcare Bhd-Ordinary Rights**
Malaysia Marine And Heavy
Engineering Holdings Berhad
Maxis Berhad
63
Company No.
731996
H
MAA TAKAFUL BERHAD
3.
MAA TAKAFUL
No. of shares
Unit
Total Cost
RM
Market Value
RM
% of Net
Asset Value
%
55,700
75,900
85,700
61,700
7,700
74,300
50,200
34,700
93,900
56,200
32,400
227,400
124,200
1,650,300
209,746
208,877
206,693
127,251
198,626
151,988
197,304
331,323
203,323
303,304
282,181
195,266
211,110
5,026,659
178,797
218,592
261,385
132,655
242,088
213,984
245,980
330,344
248,835
311,910
368,712
200,112
201,204
5,363,479
1.56
1.91
2.28
1.16
2.11
1.87
2.15
2.89
2.17
2.73
3.22
1.75
1.76
46.86
38,700
73,771
122,679
1.07
7,120
4,000
-
16,945
-
0.14
-
43,767
54,887
-
9,848
26,793
0.09
0.23
2013
TRADING SERVICES (CONTINUED)
MBM Resources Bhd
MMC Corporation Berhad
Pestech International Berhad
Petra Energy Berhad
Prestariang Berhad
Sapurakencana Petroleum Berhad
Sime Darby Berhad
Tenaga Nasional Bhd
TECHNOLOGY
WARRANT
Puncak Niaga Holdings Berhad - Wb*
KPJ Healthcare Berhad - Wa^^
Berhad - WA#
CONSUMER PRODUCTS
Padini Holdings Berhad
TOTAL
77,700
142,624
140,637
1.23
3,631,287
9,427,393
9,660,338
84.41
64
Company No.
731996
H
MAA TAKAFUL BERHAD
3.
MAA TAKAFUL
SHARIAH FLEXI FUND 2
No. of shares
Unit
Total Cost
RM
Market Value
RM
% of Net
Asset Value
%
325,300
279,600
60,800
203,100
423,659
405,065
350,693
414,971
276,505
290,784
357,504
371,673
1.35
1.41
1.73
1.80
289,000
93,200
135,800
1,386,800
465,073
131,728
356,148
2,547,337
372,810
212,496
278,390
2,160,162
1.80
1.03
1.35
10.47
118,300
40,000
59,200
153,800
293,300
664,600
397,135
417,239
394,051
404,339
390,026
2,002,790
405,769
342,800
409,664
426,026
384,223
1,968,482
1.97
1.66
1.98
2.06
1.86
9.53
102,400
143,800
246,200
388,554
279,257
667,811
363,520
467,350
830,870
1.76
2.26
4.02
77,300
13,900
16,100
107,300
349,830
126,150
345,210
821,190
347,077
153,456
400,890
901,423
1.68
0.74
1.94
4.36
433,900
32,000
204,100
96,300
382,744
91,712
332,575
336,136
357,968
116,800
310,232
289,863
1.73
0.57
1.50
1.40
2013
Main Market
CONSTRUCTION
Benalec Holdings Berhad
Eversendai Corporation Berhad
Kimlun Corporation Berhad
Berhad
WCT Berhad
INDUSTRIAL PRODUCTS
Supermax Corporation Berhad
WTK Holdings Berhad
COMPANY (IPC)
Time Dotcom Berhad
Puncak Niaga Holdings Berhad
PLANTATION
Felda Global Ventures Holdings
Berhad
Genting Plantations Berhad
Kuala Lumpur Kepong Berhad
PROPERTIES
Malton Berhad
SP Setia Berhad
65
Company No.
731996
H
MAA TAKAFUL BERHAD
3.
MAA TAKAFUL
No. of shares
Unit
Total Cost
RM
Market Value
RM
% of Net
Asset Value
%
260,100
158,000
1,184,400
389,057
473,823
2,006,047
392,751
372,880
1,840,494
1.90
1.81
8.91
255,900
148,200
69,700
33,400
98,400
143,800
95,500
201,000
89,700
3,986
391,406
426,612
468,563
240,468
384,579
400,660
398,700
402,984
383,699
11,160
401,763
326,040
480,930
250,500
396,552
514,804
368,630
387,930
348,036
19,372
1.95
1.58
2.33
1.21
1.92
2.49
1.78
1.88
1.68
0.09
95,700
50,600
103,700
129,200
167,100
117,000
13,500
146,900
99,700
61,200
184,400
111,800
64,000
451,900
254,500
3,190,786
345,839
347,824
392,169
354,237
403,016
242,074
348,201
300,498
391,856
581,983
399,285
602,839
557,560
388,037
424,397
9,588,646
334,950
367,862
332,877
372,096
509,655
251,550
424,440
423,072
488,530
582,624
488,660
620,490
728,320
397,672
412,290
10,229,645
1.62
1.78
1.61
1.80
2.47
1.22
2.05
2.05
2.37
2.82
2.37
3.00
3.53
1.93
2.00
49.53
58,200
114,122
184,494
0.89
2013
PROPERTIES (CONTINUED)
UEM Sunrise Berhad
TRADING SERVICES
Alam Maritim Resources Berhad
AirAsia Bhd
Axiata Group Berhad
Bumi Armada Berhad
Dialog Group Berhad
IHH Healthcare Berhad
KPJ Healthcare Berhad^
KPJ Healthcare Bhd-Ordinary Rights**
Malaysia Marine And Heavy
Engineering Holdings Berhad
Maxis Berhad
MBM Resources Bhd
MMC Corporation Berhad
Pestech International Berhad
Petra Energy Berhad
Prestariang Berhad
Sapurakencana Petroleum Berhad
Sime Darby Berhad
Tenaga Nasional Bhd
TECHNOLOGY
66
Company No.
731996
H
MAA TAKAFUL BERHAD
3.
MAA TAKAFUL
No. of shares
Unit
Total Cost
RM
Market Value
RM
% of Net
Asset Value
%
2013
WARRANT
Puncak Niaga Holdings Berhad - Wb*
KPJ Healthcare Berhad - Wa^^
Berhad - Wa#
14,380
7,972
-
34,224
-
0.17
-
96,333
118,685
-
21,675
55,899
0.10
0.27
CONSUMER PRODUCTS
Padini Holdings Berhad
TOTAL
MAA TAKAFUL
158,900
296,260
287,609
1.39
7,115,871
18,044,203
18,459,078
89.37
No. of shares
Unit
Total Cost
RM
Market Value
RM
% of Net
Asset Value
%
233,000
112,355
127,800
473,155
828,831
264,994
248,949
1,342,774
848,120
264,034
242,820
1,354,974
1.37
0.43
0.39
2.19
334,400
153,100
487,500
791,291
918,358
1,709,649
939,664
832,864
1,772,528
1.51
1.35
2.86
2012
Main Market
CONSTRUCTION
Gamuda Bhd
WCT Bhd
YTL Corporation Bhd
FINANCE
BIMB Holdings Bhd
67
Company No.
731996
H
MAA TAKAFUL BERHAD
3.
MAA TAKAFUL
No. of shares
Unit
Total Cost
RM
Market Value
RM
% of Net
Asset Value
%
53,900
47,300
190,100
91,800
96,900
71,400
551,400
127,851
470,165
225,996
1,435,460
197,343
372,848
2,829,663
128,282
455,026
159,684
1,791,936
187,017
401,982
3,123,927
0.20
0.74
0.26
2.90
0.30
0.65
5.05
358,000
549,700
907,700
1,560,664
3,794,397
5,355,061
1,893,820
3,655,505
5,549,325
3.06
5.91
8.97
48,100
34,400
104,000
77,400
499,200
763,100
394,639
100,121
527,491
1,677,306
4,541,212
7,240,769
432,900
102,512
530,400
1,857,600
4,752,384
7,675,796
0.70
0.17
0.86
3.00
7.67
12.40
130,000
288,936
273,000
0.44
36,100
335,300
379,624
39,700
456,250
337,900
451,600
2,036,474
421,013
1,760,976
857,742
847,553
980,792
1,947,799
3,089,589
9,905,464
509,732
2,209,627
911,098
932,950
1,437,187
2,040,916
3,134,104
11,175,614
0.82
3.57
1.47
1.51
2.32
3.30
5.06
18.06
2012
INDUSTRIAL
Malaysia Steel Works KL Bhd
Petronas Gas Bhd
Top Glove Corporation Bhd
COMPANY (IPC)
Digi.com Bhd
Maxis Bhd
PLANTATION
IJM Plantations Bhd
IOI Corporation Bhd
Sime Darby Bhd
PROPERTIES
UEM Land Bhd
TRADING SERVICES
Aeon Co. (M) Bhd
Axiata Group Bhd
Dialog Group Bhd
Tenaga Nasional Bhd
68
Company No.
731996
H
MAA TAKAFUL BERHAD
3.
MAA TAKAFUL
No. of shares
Unit
Total Cost
RM
Market Value
RM
% of Net
Asset Value
%
35,700
682,863
643,314
1.04
268,000
387,453
345,720
0.56
5,653,029
29,742,632
31,914,198
51.56
No. of shares
Unit
Total Cost
RM
Market Value
RM
% of Net
Asset Value
%
62,800
28,750
91,550
223,253
67,843
291,096
228,592
67,563
296,155
0.64
0.19
0.83
88,600
51,600
140,200
255,952
311,563
567,515
248,966
280,704
529,670
0.70
0.78
1.48
13,600
11,900
23,000
41,900
18,200
108,600
32,260
118,460
422,039
86,192
96,272
755,223
32,368
114,478
448,960
80,867
102,466
779,139
0.09
0.32
1.26
0.22
0.29
2.18
2012
CONSUMER PRODUCTS
Fraser and Neave Holdings Bhd
REIT
Al-'Aqar Healthcare RealEstate
TOTAL
MAA TAKAFUL
SHARIAH INCOME FUND
2012
Main Market
CONSTRUCTION
Gamuda Bhd
WCT Bhd
FINANCE
BIMB Holdings Bhd
INDUSTRIAL
Petronas Gas Bhd
69
Company No.
731996
H
MAA TAKAFUL BERHAD
3.
MAA TAKAFUL
SHARIAH INCOME FUND
No. of shares
Unit
Total Cost
RM
Market Value
RM
% of Net
Asset Value
%
81,000
149,500
230,500
379,285
1,034,639
1,413,924
428,490
994,175
1,422,665
1.20
2.78
3.98
12,300
10,400
18,600
19,400
125,100
185,800
113,207
30,355
94,383
422,762
1,138,232
1,798,939
110,700
30,992
94,860
465,600
1,190,952
1,893,104
0.31
0.09
0.27
1.30
3.33
5.30
34,000
75,592
71,400
0.20
9,900
83,300
92,900
9,200
72,034
75,500
113,200
456,034
109,586
480,373
223,339
198,006
168,090
442,173
782,060
2,403,627
139,788
548,947
222,960
216,200
226,907
456,020
785,608
2,596,430
0.38
1.54
0.62
0.61
0.64
1.28
2.20
7.27
8,900
171,792
160,378
0.45
1,255,584
7,477,708
7,748,941
21.69
2012
COMPANY (IPC)
Digi.com Bhd
Maxis Bhd
PLANTATION
IJM Plantations Bhd
IOI Corporation Bhd
Sime Darby Bhd
PROPERTIES
UEM Land Bhd
TRADING SERVICES
Aeon Co. (M) Bhd
Axiata Group Bhd
Dialog Group Bhd
Tenaga Nasional Bhd
CONSUMER PRODUCTS
TOTAL
70
Company No.
731996
H
MAA TAKAFUL BERHAD
3.
MAA TAKAFUL
SHARIAH GROWTH FUND
No. of shares
Unit
Total Cost
RM
Market Value
RM
% of Net
Asset Value
%
634,200
231,300
505,655
342,300
1,713,455
2,326,697
408,646
1,178,174
663,496
4,577,013
2,308,488
358,515
1,188,289
650,370
4,505,662
2.73
0.42
1.40
0.77
5.32
627,000
1,399,734
1,761,870
2.08
150,800
265,300
203,100
143,300
762,500
1,182,950
1,746,348
3,313,203
741,317
6,983,818
1,450,696
1,697,920
3,964,512
806,779
7,919,907
1.71
2.00
4.68
0.95
9.34
1,433,200
810,100
2,243,300
6,276,851
5,356,045
11,632,896
7,581,628
5,387,165
12,968,793
8.95
6.35
15.30
508,700
91,000
751,800
1,351,500
2,652,089
1,942,533
6,886,258
11,480,880
2,594,370
2,184,000
7,157,136
11,935,506
3.06
2.58
8.44
14.08
217,700
274,100
491,800
1,187,348
560,043
1,747,391
1,371,510
575,610
1,947,120
1.62
0.68
2.30
2012
Main Market
CONSTRUCTION
Gamuda Bhd
Malaysian Resources Corporation Bhd
WCT Bhd
YTL Corporation Bhd
FINANCE
BIMB Holdings Bhd
INDUSTRIAL
Petronas Gas Bhd
COMPANY (IPC)
Digi.com Bhd
Maxis Bhd
PLANTATION
IOI Corporation Bhd
Sime Darby Bhd
PROPERTIES
KLCC Property Holdings Bhd
UEM Land Bhd
71
Company No.
731996
H
MAA TAKAFUL BERHAD
3.
MAA TAKAFUL
SHARIAH GROWTH FUND
No. of shares
Unit
Total Cost
RM
Market Value
RM
% of Net
Asset Value
%
131,900
1,192,200
1,143,600
454,572
185,700
117,500
121,900
725,280
562,500
842,200
5,477,352
1,437,056
6,366,129
1,641,821
1,007,316
912,196
443,637
2,654,938
1,661,861
3,153,206
5,663,393
24,941,553
1,862,428
7,856,598
1,589,604
1,090,973
1,065,918
377,175
2,864,650
2,284,632
3,397,500
5,844,868
28,234,346
2.20
9.24
1.88
1.29
1.26
0.45
3.38
2.70
4.01
6.90
33.31
165,800
10,800
290,100
466,700
392,728
722,650
3,039,630
4,155,008
382,998
678,672
3,463,794
4,525,464
0.45
0.80
4.09
5.34
13,133,607
66,918,293
73,798,668
87.07
No. of shares
Unit
Total Cost
RM
Market Value
RM
% of Net
Asset Value
%
115,700
58,305
76,800
250,805
411,650
137,561
149,497
698,708
421,148
137,017
145,920
704,085
1.77
0.58
0.62
2.97
2012
TRADING SERVICES
Aeon Co. (M) Bhd
Axiata Group Bhd
Benalec Holdings Bhd
Dialog Group Bhd
KPJ Healthcare Bhd
MBM Resources Bhd
Tenaga Nasional Bhd
CONSUMER PRODUCTS
Cocoaland Holdings Bhd
Nestle Malaysia Bhd
UMW Holdings Bhd
TOTAL
MAA TAKAFUL
SHARIAH FLEXI FUND
2012
Main Market
CONSTRUCTION
Gamuda Bhd
WCT Bhd
YTL Corporation Bhd
72
Company No.
731996
H
MAA TAKAFUL BERHAD
3.
MAA TAKAFUL
SHARIAH FLEXI FUND
No. of shares
Unit
Total Cost
RM
Market Value
RM
% of Net
Asset Value
%
169,800
79,000
248,800
396,988
471,075
868,063
477,138
429,760
906,898
2.02
1.81
3.83
27,300
24,600
44,700
50,100
46,900
193,600
64,756
244,457
730,146
105,585
247,828
1,392,772
64,974
236,652
872,544
96,693
264,047
1,534,910
0.28
1.00
3.68
0.41
1.11
6.48
190,900
310,300
501,200
839,437
2,129,475
2,968,912
1,009,861
2,063,495
3,073,356
4.26
8.71
12.97
24,700
19,100
54,500
41,500
236,300
376,100
207,151
55,591
276,470
901,944
2,141,507
3,582,663
222,300
56,918
277,950
996,000
2,249,576
3,802,744
0.95
0.24
1.17
4.20
9.49
16.05
68,000
151,182
142,800
0.60
2012
FINANCE
BIMB Holdings Bhd
INDUSTRIAL
Petronas Gas Bhd
COMPANY (IPC)
Digi.com Bhd
Maxis Bhd
PLANTATION
IJM Plantations Bhd
IOI Corporation Bhd
Sime Darby Bhd
PROPERTIES
UEM Land Bhd
73
Company No.
731996
H
MAA TAKAFUL BERHAD
3.
MAA TAKAFUL
SHARIAH FLEXI FUND
No. of shares
Unit
Total Cost
RM
Market Value
RM
% of Net
Asset Value
%
26,000
179,600
233,800
20,700
181,739
172,700
264,000
1,078,539
300,930
978,571
550,688
443,732
371,500
994,107
1,821,729
5,461,257
367,120
1,183,564
561,120
486,450
572,478
1,043,108
1,832,160
6,046,000
1.55
4.99
2.37
2.05
2.42
4.40
7.73
25.51
19,200
365,858
345,984
1.46
132,300
191,303
170,667
0.72
2,868,544
15,680,718
16,727,444
70.59
2012
TRADING SERVICES
Aeon Co. (M) Bhd
Axiata Group Bhd
Dialog Group Bhd
Tenaga Nasional Bhd
CONSUMER PRODUCTS
REIT
Al-'Aqar Healthcare RealEstate
TOTAL
74
Company No.
731996
H
MAA TAKAFUL BERHAD
4.
UNQUOTED INVESTMENTS
Balanced Fund
2013
Cost
RM
Market Value
RM
Income Fund
Cost
RM
Market Value
RM
Balanced Fund 2
Cost
RM
Market Value
RM
Income Fund 2
Cost
RM
Market Value
RM
Islamic debt securities
Sector
Main Market
Conglomerate
Construction and
engineering
Financial services
Highways and
interchanges
Infrastructures and
utilities
Petroleum and gas
Plantation
Power
Roads
Real Estate
Sovereign
Trading and service
Telecommunications
Toll roads
Utilities
-
-
2,015,860
1,990,400
-
-
2,531,050
2,555,750
2,144,200
2,030,800
-
-
-
-
-
-
211,700
5,006,200
4,121,200
1,000,000
3,021,630
3,081,650
18,761,730
4,877,400
4,067,200
934,100
2,963,100
3,055,800
18,453,350
2,000,000
7,305,900
1,503,300
1,106,600
16,075,860
1,981,200
7,128,400
1,494,150
1,086,200
15,711,150
203,160
414,860
75
-
-
206,980
-
198,658
-
204,678
211,700
204,680
203,580
408,258
3,314,260
1,689,410
1,699,790
1,698,810
1,294,840
3,715,660
2,510,550
16,342,000
3,256,490
1,683,850
1,684,020
1,691,350
1,267,400
3,700,180
2,468,950
16,155,578
Company No.
731996 H
MAA TAKAFUL BERHAD
4.
UNQUOTED INVESTMENTS (CONTINUED)
Balanced Fund
Cost
RM
Market Value
RM
Income Fund
Cost
RM
Market Value
RM
Balanced Fund 2
Cost
RM
Market Value
RM
Income Fund 2
Cost
RM
Market Value
RM
2013
Islamic debt securities :
At cost
Amortisation of
premiums
Net unrealised
capital loss
18,761,730
18,761,730
18,761,730
(90,477)
(217,903)
18,453,350
16,075,860
16,075,860
16,075,860
(196,820)
(167,890)
15,711,150
76
414,860
414,860
414,860
(545)
(6,057)
408,258
16,342,000
16,342,000
16,342,000
(10,561)
(175,861)
16,155,578
Company No.
731996 H
MAA TAKAFUL BERHAD
4.
Balanced Fund
2012
Cost
RM
Income Fund
Cost
RM
Market Value
RM
Market Value
RM
Islamic debt securities
Sector
Main Market
Conglomerate
Port
Financial services
Plantation
Power
Technology
Telecommunications
Toll roads / Ports
Real estate
Islamic debt securities :
At cost
Amortisation of premiums
Net unrealised capital gain
1,000,000
4,006,200
6,210,900
1,012,230
2,069,950
2,000,000
16,299,280
1,035,200
4,003,000
6,384,100
1,022,600
2,123,500
2,003,000
16,571,400
2,015,860
1,013,810
3,000,000
3,243,400
3,128,400
11,593,300
23,994,770
2,069,400
1,096,800
3,016,900
3,253,100
3,188,400
11,955,850
24,580,450
16,299,280
16,299,280
16,299,280
(65,222)
337,342
16,571,400
23,994,770
23,994,770
23,994,770
(170,979)
756,659
24,580,450
77
Company No.
731996
H
MAA TAKAFUL BERHAD
4.
The following funds did not hold any investments in unquoted investment as at 31 December 2013 (2012:nil).
• MAA Takaful Shariah Growth Fund
• MAA Takaful Shariah Flexi Fund
• MAA Takafulink Structured Invest Fund
78
Company No.
731996
H
MAA TAKAFUL BERHAD
4.
MAA TAKAFUL
No. of shares
Unit
Total Cost
RM
Market Value
RM
% of Net
Asset Value
%
1,500,000
1,000,000
2,500,000
1,531,050
1,000,000
2,531,050
1,530,150
1,025,600
2,555,750
2.17
1.46
3.63
1,000,000
1,000,000
990,600
1.39
2,000,000
2,000,000
5,000,000
2,006,200
2,000,000
5,006,200
1,967,800
1,919,000
4,877,400
2.77
2.72
6.88
1,000,000
1,000,000
1,000,000
1,000,000
4,000,000
1,089,200
1,001,400
1,022,600
1,008,000
4,121,200
1,032,900
1,000,800
1,030,900
1,002,600
4,067,200
1.46
1.40
1.45
1.42
5.73
1,000,000
1,000,000
934,100
1.33
3,000,000
3,021,630
2,963,100
4.20
1,000,000
500,000
1,500,000
3,000,000
1,062,500
503,400
1,515,750
3,081,650
1,051,500
501,300
1,503,000
3,055,800
1.48
0.72
2.15
4.35
18,500,000
18,761,730
18,453,350
26.12
2013
FINANCIAL SERVICE
Gulf Investment Corporation
PLANTATION
First Resources Ltd
Golden Assets International Finance
Limited
POWER
Jimah Energy Ventures
Malakoff Power Bhd
Ranhill Powertron II Sdn Bhd
TAQA Abu Dhabi National Energy
REAL ESTATE
Aman Sukuk Bhd
TELECOMMUNICATIONS
TOLL ROADS
Anih Bhd
Projek Lebuhraya Usahasama Bhd
TOTAL
79
Company No.
731996
H
MAA TAKAFUL BERHAD
4.
MAA TAKAFUL
SHARIAH INCOME FUND
No. of shares
Unit
Total Cost
RM
Market Value
RM
% of Net
Asset Value
%
2,000,000
2,015,860
1,990,400
6.69
2,000,000
2,144,200
2,030,800
6.83
2,000,000
2,000,000
1,981,200
6.67
1,000,000
1,000,000
2,000,000
2,000,000
1,000,000
7,000,000
1,100,100
1,120,700
2,002,800
2,060,400
1,021,900
7,305,900
1,032,900
1,067,700
2,001,600
2,023,600
1,002,600
7,128,400
3.50
3.62
6.73
6.91
3.42
24.18
1,500,000
1,503,300
1,494,150
5.06
1,000,000
1,106,600
1,086,200
3.66
15,500,000
16,075,860
15,711,150
53.09
2013
CONGLOMERATE
United Growth
FINANCIAL SERVICE
PLANTATION
First Resources Ltd
POWER
Malakoff Power Bhd
Tanjung Bin Power Sdn Bhd
SOVEREIGN
Mumtalakat
TOLL ROADS
Maju Expressway Sdn Bhd
TOTAL
80
Company No.
731996
H
MAA TAKAFUL BERHAD
4.
MAA TAKAFUL
No. of shares
Unit
Total Cost
RM
Market Value
RM
% of Net
Asset Value
%
200,000
211,700
204,678
6.26
Weststar Capital Sdn Berhad
200,000
203,160
203,580
6.22
TOTAL
400,000
414,860
408,258
12.48
No. of shares
Unit
Total Cost
RM
Market Value
RM
% of Net
Asset Value
%
200,000
206,980
198,658
0.83
200,000
211,700
204,680
0.84
1,600,000
1,500,000
3,100,000
1,660,960
1,653,300
3,314,260
1,636,640
1,619,850
3,256,490
6.71
6.64
13.35
200,000
1,500,000
1,700,000
199,160
1,490,250
1,689,410
198,100
1,485,750
1,683,850
0.81
6.09
6.90
200,000
1,500,000
1,700,000
201,440
1,498,350
1,699,790
198,120
1,485,900
1,684,020
0.81
6.09
6.90
2013
HIGHWAYS AND INTERCHANGES
Besraya (M) Sdn Berhad
TRADING AND SERVICES
MAA TAKAFUL
2013
CONSTRUCTION AND
ENGINEERING
Konsortium ProHAWK Sdn Berhad
HIGHWAYS AND INTERCHANGES
Besraya (M) Sdn Berhad
INFRASTRUCTURES AND UTILITIES
Kimanis Power Sdn Berhad
Tanjung Bin Energy Issuer Berhad
PETROLEUM AND GAS
SapuraKencana Petroleum Berhad
SapuraKencana Petroleum Berhad
PLANTATION AND AGRICULTURE
First Resources Limited
First Resources Limited
81
Company No.
731996
H
MAA TAKAFUL BERHAD
4.
MAA TAKAFUL
(CONTINUED)
No. of shares
Unit
Total Cost
RM
Market Value
RM
% of Net
Asset Value
%
1,500,000
100,000
1,600,000
1,510,050
188,760
1,698,810
1,504,350
187,000
1,691,350
6.16
0.77
6.93
200,000
1,000,000
1,200,000
218,340
1,076,500
1,294,840
210,300
1,057,100
1,267,400
0.86
4.33
5.19
2,000,000
200,000
1,500,000
3,700,000
1,993,000
203,160
1,519,500
3,715,660
1,979,200
203,580
1,517,400
3,700,180
8.11
0.83
6.22
15.16
1,000,000
1,500,000
2,500,000
1,004,400
1,506,150
2,510,550
982,000
1,486,950
2,468,950
4.02
6.09
10.11
15,900,000
16,342,000
16,155,577
66.21
No. of shares
Unit
Total Cost
RM
Market Value
RM
% of Net
Asset Value
%
1,000,000
1,000,000
1,035,200
1.70
2,000,000
2,000,000
4,000,000
2,006,200
2,000,000
4,006,200
2,007,800
1,995,200
4,003,000
3.26
3.27
6.53
2013
POWER PLANTS
Kapar Energy Ventures Sdn Berhad
Special Power Vehicle Berhad
ROADS
Anih Berhad
Anih Berhad
TRADING AND SERVICES
Alpha Circle Sdn Berhad
UTILITIES
Sarawak Hidro Sdn Berhad
Sarawak Energy Berhad
TOTAL
MAA TAKAFUL
2012
FINANCIAL SERVICE
PLANTATION
Golden Assets International Finance
Limited
82
Company No.
731996
H
MAA TAKAFUL BERHAD
4.
MAA TAKAFUL
No. of shares
Unit
Total Cost
RM
Market Value
RM
% of Net
Asset Value
%
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
5,000,000
1,089,200
1,004,900
1,022,600
2,086,200
1,008,000
6,210,900
1,071,900
1,049,100
1,072,700
2,171,800
1,018,600
6,384,100
1.75
1.70
1.74
3.56
1.67
10.42
1,000,000
1,012,230
1,022,600
1.67
1,000,000
1,000,000
2,000,000
1,062,500
1,007,450
2,069,950
1,100,700
1,022,800
2,123,500
1.79
1.69
3.48
2,000,000
2,000,000
2,003,000
3.27
15,000,000
16,299,280
16,571,400
27.07
No. of shares
Unit
Total Cost
RM
Market Value
RM
% of Net
Asset Value
%
2,000,000
2,015,860
2,069,400
5.80
1,000,000
1,013,810
1,096,800
3.09
3,000,000
3,000,000
3,016,900
8.51
2012
POWER
Malakoff Power Bhd
Tanjung Bin Energy Issuer Bhd
TELECOMMUNICATIONS
TOLL ROADS
Anih Bhd 5.58% 28/11/2025
REAL ESTATE
Aman Sukuk Bhd
TOTAL
MAA TAKAFUL
SHARIAH INCOME FUND
2012
CONGLOMERATE
United Growth
PORTS
Westports Malaysia Sdn Bhd
PLANTATION
First Resources Ltd
83
Company No.
731996
H
MAA TAKAFUL BERHAD
4.
MAA TAKAFUL
SHARIAH INCOME FUND
(CONTINUED)
No. of shares
Unit
Total Cost
RM
Market Value
RM
% of Net
Asset Value
%
2,000,000
1,000,000
3,000,000
2,220,800
1,022,600
3,243,400
2,180,400
1,072,700
3,253,100
6.16
3.01
9.17
3,000,000
3,128,400
3,188,400
8.98
Anih Bhd
Konsortium Lebuh Utara Timur
Maju Expressway Sdn Bhd
8,000,000
2,000,000
1,000,000
1,000,000
12,000,000
7,647,500
1,831,100
1,106,600
1,008,100
11,593,300
7,925,500
1,889,550
1,115,300
1,025,500
11,955,850
22.29
5.34
3.13
2.93
33.69
TOTAL
24,000,000
23,994,770
24,580,450
69.24
2012
POWER
TECHNOLOGY
Encorp Systembilt Sdn Bhd
TOLL ROADS
84

Company No. 731996 H MAA TAKAFUL BERHAD MAA TAKAFUL

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