KUALA LUMPUR: CIMB Equities Research has initiated coverage of Syarikat Takaful Malaysia (STM) with a target price of RM4.39 and an Add recommendation.
It said on Thursday STM is for investors looking for pure and direct exposure to the fast-growing takaful industry. STM is also one of the biggest players in this segment, competing with Maybank-owned Etiqa.
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