AIA Public Takaful declares record RM84mil surplus distribution
AIA Public said the amount, which benefits approximately 617,000 certificate holders, represents a 19 per cent increase from the RM70.7 million distributed in 2023, making it the company's highest surplus distribution to date.
"This strong surplus reflects the quality of AIA Public's active certificate portfolio and is attributed to the company's strategic focus on building the most productive and professional agency force,' it said in a statement today.
The company noted that eligible certificate holders were notified of their surplus distribution in phases starting from July 2025 via postal mail, email, and SMS.
"Additionally, notifications are available via the AIA+ mobile app, allowing customers to conveniently access their Surplus Letter anytime, anywhere,' it said.
It added that for active certificates, the surplus amount was credited in June 2025 to the Participant's Investment Fund or Participant's Account, in accordance with the terms of the certificate.
AIA Public urged customers who have not received any notification to contact their respective Life Planners or call AIA Public's Careline at 1300-88-8922 for further assistance.
In line with the principles of takaful, which promote mutual assistance and community support, customers participating in selected AIA Public plans were also given the option to donate their surplus to charity.
"For FY2024, nearly 11,000 certificate holders chose to contribute their surplus, totalling RM2.53 million to AIA Public's Penyala Harapan Charity Fund, marking a 15 per cent increase from the previous year's contribution of RM2.2 million.
"This growing participation highlights the deepening commitment among customers to uplift community wellbeing and strengthen charitable initiatives that empower Malaysians to live healthier, longer and better,' the company said.
Takaful surplus refers to the excess in the Participants' Risk Fund after deducting claims, reserves, and capital requirements. It is determined annually by the takaful operator and shared proportionately among eligible participants who made no claims and whose certificates remained active during the year. - Bernama
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
7 hours ago
- The Star
Tech shares lift Wall St futures on tariff exemption hopes
US STOCK index futures rose on Thursday, pointing to fresh gains on Wall Street, on signs that major technology companies will avoid President Donald Trump's latest tariffs on chip imports. Apple's shares climbed 3.2% in premarket trading, having risen 5.1% and led gains on Wall Street in the prior session, after Trump said the iPhone maker will invest an additional $100 billion in the U.S., bringing its total commitment to $600 billion over the next four years. Trump also announced a tariff of about 100% on imports of semiconductors but said it would not apply to companies that are manufacturing in the U.S. or have committed to do so. Shares of chipmakers including Nvidia, Advanced Micro Devices and Intel rose in the range of 1.2% to 2.5%. At 06:16 a.m. ET, S&P 500 E-minis were up 53.75 points, or 0.84%, Nasdaq 100 E-minis were up 197 points, or 0.84%, and Dow E-minis were up 274 points, or 0.62%. The president's higher tariffs of 10% to 50% on dozens of trading partners took effect on Thursday. Still, expectations of policy easing by the Federal Reserve - sparked by some disappointing economic data, particularly the July payrolls report - as well as optimism around AI spending by companies have kept markets near record highs. Following the latest jobs data, traders have almost fully priced in a 25 basis point rate cut in September and expect at least two rate cuts this year, according to the CME Group's FedWatch tool. Weekly jobless claims data, due at 08:30 a.m. ET, could offer fresh clues on the health of the labor market and shift rate cut expectations. Investors are also watching for Trump's interim replacement for Fed Governor Adriana Kugler in the coming days, amid expectations that the nominee would be a policy dove who will likely favor bringing interest rates lower. Kugler's resignation leaves an opening at the seven-member Fed Board led by Chair Jerome Powell, who Trump has repeatedly criticized for not cutting borrowing costs. Powell's tenure is due to end in May 2025. Second-quarter earnings barrage continued at full throttle. DoorDash topped revenue estimates and forecasted a stronger-than-expected gross merchandise value for the current quarter. Its shares jumped 8.6%. Lyft's quarterly revenue miss took its stock down 2.3%, even as the ride-hailing firm gave an upbeat gross bookings forecast for the September quarter. - Reuters
Borneo Post
13 hours ago
- Borneo Post
State delegation visits Expo 2025 Osaka for Sarawak Week at Malaysia Pavilion
Abdul Karim (second left) visits the Malaysia Pavilion at Expo 2025 Osaka. KUCHING (Aug 7): A Ministry of Tourism, Creative Industry and Performing Arts delegation visited Expo 2025 Osaka in conjunction with Sarawak Week at the Malaysia Pavillion yesterday (Aug 6). Minister Tourism, Creative Industry and Performing Arts Dato Sri Abdul Karim Rahman Hamzah led the delegation accompanied by deputy ministers Datuk Sebastian Ting and Datuk Dr Ripin Lamat. 'The delegation's objective was to enhance Sarawak's international profile by showcasing the state's rich cultural heritage, dynamic tourism sector, and the Sarawak-Malaysia My Second Home (S-MM2H) programme. 'Held from Aug 4-10, Sarawak Week provided a strategic platform to introduce Sarawak to a global audience,' the ministry said in a statement. Throughout Sarawak Week, the Malaysia Pavilion hosted a series of cultural showcases that reflected the state's unique identity. Visitors witnessed a live demonstration of Buri, a traditional Iban craft, alongside enchanting sape performances that captured the spirit of Sarawak's indigenous heritage. The ministry said these presentations offered international audiences a meaningful connection to the rich cultural heritage of the people of Sarawak. 'The visit also placed strong emphasis on promoting the Sarawak-Malaysia My Second Home (S-MM2H) programme, which offers foreign nationals the opportunity to live in Sarawak on a long-term basis. 'Known for its safety, affordability, and multicultural charm, Sarawak is positioned as an ideal destination for those seeking a second home in Southeast Asia,' it added. The expo served as an effective platform to raise awareness and generate interest in the programme among global visitors and potential investors. In addition to engagements at the Malaysia Pavilion, the delegation visited several international pavilions, including Indonesia, Germany, and Saudi Arabia, to foster closer ties, encourage cultural and tourism exchange, as well as explore collaboration opportunities with international partners. 'The visit to Expo 2025 Osaka provided an important opportunity for Sarawak to highlight its cultural richness, creative talents, and quality of life on the global stage,' added the ministry. Expo 2025 Osaka lead Malaysia Pavilion Sarawak Week
The Star
15 hours ago
- The Star
Asian stocks climb, dollar droops on Fed easing bets
TOKYO: Asian equities rose on Thursday, with Japanese shares hitting a record high, as tech-led gains on Wall Street, upbeat earnings and growing expectations for U.S. rate cuts boosted sentiment. The prospect of a meeting between U.S. President Donald Trump and Russian President Vladimir Putin over the war in Ukraine also underpinned sentiment, benefitting the euro, while weighing on oil prices as traders gauged the outlook for sanctions on Moscow. Sterling held its ground at a one-week high going into the Bank of England's policy announcement later in the day, with a quarter-point cut widely expected, and the focus falling on a possible three-way split within the board. At the same time, markets largely shook off Trump's latest tariff threats, including an additional 25% tariff on India over purchases of Russian oil and a threatened 100% duty on chips. Japan's broad Topix index rose 0.9% to reach an all-time high, with the more tech-focused Nikkei also gaining by about the same margin. Taiwan's stock benchmark surged 2.3% to a more than one-year peak. South Korea's KOSPI added 0.6%. Hong Kong's Hang Seng rose 0.4%, and mainland Chinese blue chips advanced 0.3%. Australian shares edged slightly lower after hitting a record high on Wednesday. U.S. stock futures were buoyant, with those for the S&P 500 up 0.3% and those for the Nasdaq also rising 0.3%. On Wednesday, the S&P 500 climbed 0.7% and the Nasdaq Composite jumped 1.2%. "Wall Street seems to have gotten its mojo back," analyst Kyle Rodda wrote in a note. "However, there are persistent risks to the downside. Downside surprises in official data are increasing," he said. "Valuations are also stretched, with forward price to earnings hovering around the highest in four years. And trade uncertainty persists." The U.S. dollar remained lower against major peers on Thursday, with expectations of easier policy from the Federal Reserve stoked both by some disappointing macroeconomic indicators - not least Friday's payrolls report - and Trump's move to install new picks on the Fed board that are likely to share the U.S. President's dovish views on monetary policy. Focus is centring on Trump's nomination to fill a coming vacancy on the Fed's Board of Governors and candidates for the next chair of the central bank, with current Chair Jerome Powell's tenure due to end in May. The dollar index, which gauges the currency against the euro, sterling and four other counterparts, gained slightly to 98.245, after dropping 0.6% on Wednesday. The euro was little changed at $1.1657, following the previous session's 0.7% jump. Sterling was steady at $1.3356. The BoE looks poised to cut interest rates for the fifth time in 12 months later on Thursday, but nagging worries about inflation are likely to split its policymakers and cloud the outlook for its next moves. Two Monetary Policy Committee members may push for a half-point rate cut, and two may lobby for no change. The dollar added 0.1% to 147.53 yen. Gold gained 0.4% to around $3,382 per ounce, buoyed by the weaker dollar. Crude oil clawed back some losses from Wednesday, when both Brent and West Texas Intermediate slid about 1%. Brent crude futures were last up 20 cents, or 0.3%, at $67.09 a barrel, while U.S. West Texas Intermediate crude gained 22 cents, or 0.3%, to $64.57 a barrel.- Reuters
