Overall Baseline

CONFIDENTIAL - DISTRIBUTION RESTRICTED
CONFIDENTIAL - DISTRIBUTION RESTRICTED
BASELINE
MAYBAN FORTIS
MANAGEMENT REPORTING
05/06 Budget figures + MTP (Base case excluding Merger impact)

(at 100% and in RM)
PRELIMINARY or NOT AVAILABLE/PROVIDED BY THE ENTITIES
14-Oct-08
Mayban Fortis Summary + MNI + TN (100%) Base case - without Merger impact
Top Sheet
(in RM) Preliminary - not approved Not available-rough extrapol. Not available-rough extrapol.
Actual Actual Vs Budget Vs Budget Vs Budget Vs Budget Vs
FY '03/04 FY '04/05 FY '03/04 FY '05/06 FY '04/05 FY '06/07 FY '05/06 FY '07/08 FY '06/07 FY '08/09 FY '07/08
Gross Written premium (By class into Life and General) 3,112,490,671 3,477,046,350 12% 4,122,441,500 19% 4,841,152,498 17% 5,445,804,344 12% 6,090,724,686 12%
LIFE 2,130,742,527 2,501,769,681 17% 2,922,728,000 17% 3,420,443,524 17% 3,885,006,944 14% 4,395,491,169 13%
GENERAL 981,748,144 975,276,669 -1% 1,199,713,500 23% 1,420,708,974 18% 1,560,797,400 10% 1,695,233,517 9%
Gross Written premium (By class into Life, General and Takaful) 3,112,490,671 3,477,046,350 12% 4,122,441,500 19% 4,841,152,498 17% 5,445,804,344 12% 6,090,724,686 12%
LIFE 1,704,678,831 2,014,959,403 18% 2,359,751,000 17% 2,740,705,000 16% 3,074,670,750 12% 3,442,187,363 12% 1.13
GENERAL 792,834,000 768,041,597 -3% 922,945,500 20% 1,059,887,000 15% 1,148,505,700 8% 1,230,173,270 7% 1.10
TAKAFUL 614,977,840 694,045,350 13% 839,745,000 21% 1,040,560,498 24% 1,222,627,894 17% 1,418,364,053 16% 1.19
Gross Written premium (By company)

3,112,490,671 3,477,046,350 12% 4,122,441,500 19% 4,841,152,498 17% 5,445,804,344 12% 6,090,724,686 12%
Mayban General assurances (MGAB) 285,129,000 325,054,597 14% 396,245,500 22% 480,887,000 21% 528,975,700 10% 581,873,270 10%
Mayban Life Assurance (MLA) 993,277,301 951,619,119 -4% 1,407,251,000 48% 1,638,705,000 16% 1,884,510,750 15% 2,167,187,363 15%
Mayban Takaful (MTB) General 6,284,870 17,266,072 175% 48,180,000 179% 95,465,000 98% 109,784,750 15% 126,252,463 15%
Mayban Takaful (MTB) LIFE 35,632,696 85,998,278 141% 126,050,000 47% 144,735,000 15% 173,682,000 20% 208,418,400 20%
Mayban life international (MLI) 1,549,530 37,136,284 2297% - -100% - #DIV/0! - #DIV/0! - #DIV/0!
MFH GROUP 1,321,873,397 1,417,074,350 7% 1,977,726,500 40% 2,359,792,000 19% 2,696,953,200 14% 3,083,731,495 14%
MNI LIFE 709,852,000 1,026,204,000 45% 952,500,000 -7% 1,102,000,000 16% 1,190,160,000 8% 1,275,000,000 7%
MNI GENERAL 507,705,000 442,987,000 -13% 526,700,000 19% 579,000,000 10% 619,530,000 7% 648,300,000 5%
MNI GROUP 1,217,557,000 1,469,191,000 21% 1,479,200,000 1% 1,681,000,000 14% 1,809,690,000 8% 1,923,300,000 6%
TN LIFE 390,431,000 400,812,000 3% 436,927,000 9% 535,003,524 22% 636,654,194 19% 744,885,406 17%
TN GENERAL 182,629,274 189,969,000 4% 228,588,000 20% 265,356,974 16% 302,506,950 14% 338,807,784 12%
TN GROUP 573,060,274 590,781,000 3% 665,515,000 13% 800,360,498 20% 939,161,144 17% 1,083,693,191 15%
PBT (Local accounts) 235,211,810 239,125,268 2% 263,401,579 10% 281,077,010 7% 321,088,112 14% 354,361,739 10% 90,960,160
Mayban Life Assurance (MLA) 9,918,111 28,341,000 186% 34,570,398 22% 40,762,673 18% 45,873,269 13% 52,980,394 15%
Mayban Takaful (MTB) (525,728) (4,791,429) 811% 1,582,130 -133% 4,099,200 159% 5,472,644 34% 7,368,490 35%
Mayban Life international (MLI) (PAT) 539,395 230,880 -57% - -100% - #DIV/0! - #DIV/0! - #DIV/0!
Mayban Fortis Holdings (MFHB) (ex dividends) (PAT) (478,187) (625,674) 31% (567,446) -9% (567,446) 0% (567,446) 0% (567,446) 0%
MFH Group 83,892,591 111,308,268 33% 124,473,629 12% 135,599,873 9% 150,811,233 11% 169,292,047 12%
MNI 107,162,000 76,263,000 -29% 84,146,950 10% 79,895,000 -5% 94,067,900 18% 99,129,797 5%
TN 44,157,219 51,554,000 17% 54,781,000 6% 65,582,137 20% 76,208,979 16% 85,939,896 13%
Net Profit (Local accounts)
167,294,141 169,522,191 1% 186,890,506 10% 196,264,498 5% 223,343,041 14% 249,995,950 12%
Mayban Takaful (MTB) (665,209) (4,764,217) 616% 942,130 -120% 2,889,241 207% 3,857,287 34% 5,193,537 35%
Mayban Life international (MLI) 539,395 230,880 -57% - -100% - #DIV/0! - #DIV/0! - #DIV/0!
Mayban Fortis Holdings (MFHB) (ex dividends) (478,187) (625,674) 31% (567,446) -9% (567,446) 0% (567,446) 0% (567,446) 0%
MFH Group 60,960,767 78,083,191 28% 88,500,702 13% 95,450,366 8% 105,358,284 10% 118,635,711 13%
MNI 85,417,000 55,803,000 -35% 60,585,804 9% 57,524,400 -5% 67,728,888 18% 71,373,454 5%
TN 20,916,374 35,636,000 70% 37,804,000 6% 43,289,732 15% 50,255,869 16% 59,986,785 19%
Net Profit (Fortis IFRS Accounting rules (ex. IFRS asset corr.))
220,922,901 228,420,181 3% 240,965,009 5% 262,025,042 9% 304,472,032 16% 345,498,284 13%
Mayban Takaful (MTB) (665,209) (4,764,217) 616% 942,130 -120% 2,889,241 207% 3,857,287 34% 5,193,537 35%
Mayban Life international (MLI) 539,395 230,880 -57% - -100% - #DIV/0! - #DIV/0! - #DIV/0!
Mayban Fortis Holdings (MFHB) (478,187) (625,674) 31% (567,446) -9% (567,446) 0% (567,446) 0% (567,446) 0%
MFH Group 96,301,527 111,155,743 15% 133,771,622 20% 144,841,627 8% 159,874,997 10% 180,588,512 13%
MNI 103,705,000 81,628,438 -21% 69,389,387 -15% 73,893,683 6% 94,341,166 28% 104,922,988 11%
TN 20,916,374 35,636,000 70% 37,804,000 6% 43,289,732 15% 50,255,869 16% 59,986,785 19%
COMMENTS:
This is the result according to the local accounting rules,including only real transfers from the policyholder funds to the shareholder funds.
Net Profit (Local accounts excluding pro forma transfer)
This is the result according to the local accounting rules, including pro frorma expected transfers from the policyholder funds to the shareholder funds.
Net Profit (Local accounts)
This is the result according to the Fortis accounting rules, including pro forma transfers & retained shareholder surplus in the policy holder funds after tax.
Net Profit (Fortis IFRS Accounting rules (ex. IFRS asset corr.))
Management expenses 307,381,947 297,076,947 -3% 355,966,148 20% 393,030,919 10% 427,637,500 9% 461,877,817 8%
Mayban Takaful (MTB) 7,211,681 12,521,123 74% 17,273,870 38% 24,554,000 42% 28,012,100 14% 31,958,540 14%
MNI 104,900,000 111,653,000 6% 131,453,050 18% 144,810,682 10% 154,528,752 7% 162,571,990 5%
TN 101,154,225 77,893,000 -23% 88,523,000 14% 95,738,513 8% 105,157,608 10% 114,266,130 9%
IMPACT MAJOR FINANCIAL MERGER TRANSACTIONS & proforma consolidation @ 100% from 01/01/2006 onwards
CONSOLIDATION FORTIS (EUR) FY '03/04 FY '04/05 FY '05/06 FY '06/07 FY '07/08
100% MFHB 96,301,527 111,155,743 133,771,622 144,841,627 159,874,997
100% MNI 34,694,694 73,893,683 94,341,166
80% TN 15,121,600 34,631,786 40,204,695
PAT IFRS (ex asset cor.) 96,301,527 111,155,743 15% 183,587,916 65% 253,367,096 38% 294,420,858 16%
6 mnths of MNI/TN
FINANCIAL IMPACT MERGER FY '03/04 FY '04/05 FY '05/06 FY '06/07 FY '07/08

CAPIAL REDUCTIONS & EXTRA DIVIDENDS 109,000,000 425,000,000 300,000,000
EFFECT CAPITAL REDUCTIONS 3,924,000 19,224,000 30,024,000
MERGER EXPENSES (one off) 11,000,000

MC K Expenses (one off) 5,700,000
Adjusted P&L Base Case/Preliminary 96,301,527 111,155,743 15% 168,663,916 52% 228,443,096 35% 264,396,858 16% 360,000,000
Merger pre-lim.
target 2009
CONSOLIDATION ISSUE MNIB Company 30/03/2005 IFRS Eq. Adj SHF MNIH
Participating fund surplus 172,211,904 10% 12,151,272
Non Participating fund surplus + UL 238,722,504 100% 168,442,599
Annuity surplus 56,449,698 10% 3,983,091
SHF MNIH consolidated (ex minorities) 1,166,337,000 100% 1,166,337,000
intangibles 29,332,000 (29,332,000)
Acquisition price (= +/- Bookvalue) 1137450422.84

IFRS valuation 1,321,581,961
Opening badwill 184,131,539
Consolidate all the 3 supporting schedules (SS-General, SS-Life and SS-Takaful) to support the Master summary
1 GENERAL INSURANCE BUSINESS
ACTUAL FY 03/04
Marine, Aviation
GENERAL INSURANCE Fire Motor Medical Misc Accident Liability Energy Others TOTAL
& Transit
Gross Premium
Conventional 154,606,423 176,625,091 128,375,710 22,344,000 149,181,286 11,544,000 130,666,000 19,490,000 792,832,510
Takaful 59,906,366 69,847,550 34,773,578 - 15,583,184 - - 8,214,326 188,325,004
Total Gross Premium 214,512,789 246,472,641 163,149,288 22,344,000 164,764,470 11,544,000 130,666,000 27,704,326 981,157,514
UPR
Conventional (5,179,328) (7,176,922) 1,480,743 (832,000) (291,427) (2,371,000) 8,603,000 (1,509,000) (7,275,934)
Takaful 21,820,694 4,424,886 970,165 - 13,100 - - 482,941 27,711,787
Increase in unexpired risk reserve 16,641,366 (2,752,036) 2,450,908 (832,000) (278,327) (2,371,000) 8,603,000 (1,026,059) 20,435,853
Gross Earned Premium

Conventional 159,785,751 183,802,013 126,894,967 23,176,000 149,472,713 13,915,000 122,063,000 20,999,000 800,108,444
Takaful 38,085,671 65,422,665 33,803,413 7,731,384 145,043,133
Total Gross Earned Premium 197,871,422 249,224,678 160,698,380 23,176,000 149,472,713 13,915,000 122,063,000 28,730,384 945,151,577
Net Reinsurance
Conventional 69,385,405 10,338,941 113,732,587 388,000 33,135,780 8,636,000 132,123,000 18,695,000 386,434,713
Takaful 24,245,232 3,900,175 32,934,501 - 3,339,429 - - 5,979,192 70,398,529
Total Net Reinsurance 93,630,637 14,239,116 146,667,088 388,000 36,475,209 8,636,000 132,123,000 24,674,192 456,833,242
Net Premium
Conventional 90,400,346 173,463,072 13,162,380 22,788,000 116,336,933 5,279,000 (10,060,000) 2,304,000 413,673,731
Takaful 13,840,439 61,522,489 868,912 - (3,339,429) - - 1,752,192 74,644,604
Total Net Premium 104,240,785 234,985,561 14,031,292 22,788,000 112,997,504 5,279,000 (10,060,000) 4,056,192 488,318,335
Conventional 9,243,028 16,832,844 (2,044,617) 2,260,000 18,869,460 (61,000) 811,000 (1,429,000) 44,481,715
Takaful 1,889,726 6,433,678 (442,987) - 2,318,656 - - (195,184) 10,003,889
Net Commission 11,132,754 23,266,522 (2,487,604) 2,260,000 21,188,116 (61,000) 811,000 (1,624,184) 54,485,604
Conventional 31,688,791 59,357,073 5,156,438 9,758,827 35,612,917 2,260,701 (4,308,136) 986,674 140,513,285
Takaful 4,412,445 8,595,455 4,332,832 - 1,938,546 - - 1,023,472 20,302,749
Management expenses 36,101,236 67,952,528 9,489,270 9,758,827 37,551,462 2,260,701 (4,308,136) 2,010,146 160,816,033
Conventional 18,023,813 103,000,826 16,300,820 14,093,000 49,674,055 2,263,000 2,017,000 4,438,000 209,810,514
Takaful 3,910,752 37,358,608 (656,867) - 6,374,594 - - 833,662 47,820,750
Net Claims Paid (incl. IBNR) 21,934,565 140,359,434 15,643,953 14,093,000 56,048,649 2,263,000 2,017,000 5,271,662 257,631,264
Conventional 31,444,714 (5,727,671) (6,250,261) (3,323,827) 12,180,501 816,299 (8,579,864) (1,691,674) 18,868,217
Takaful 3,627,516 9,134,748 (2,364,066) - (13,971,225) - - 90,242 (3,482,784)
Underwriting Surplus/(Deficit) 35,072,230 3,407,077 (8,614,326) (3,323,827) (1,790,723) 816,299 (8,579,864) (1,601,432) 15,385,434
KEY RATIO's GENERAL
Reinsurance % of Gross earned Premium 47.32% 5.71% 91.27% 1.67% 24.40% 62.06% 108.24% 85.88% 48.33%
Net Claims Ratio (over NPE) 21.04% 59.73% 111.49% 61.84% 49.60% 42.87% -20.05% 129.97% 52.76%
Net Commission Expenses (over NPE) 10.68% 9.90% -17.73% 9.92% 18.75% -1.16% -8.06% -40.04% 11.16%
Net Management Expense ratio (over NPE) 34.63% 28.92% 67.63% 42.82% 33.23% 42.82% 42.82% 49.56% 32.93%
Net Expense ratio (over NPE) 45.31% 38.82% 49.90% 52.74% 51.98% 41.67% 34.76% 9.52% 44.09%
Net Combined ratio (over NPE) before Profit sharing 66.35% 98.55% 161.39% 114.59% 101.58% 84.54% 14.71% 139.48% 96.85%
Net Combined ratio (over NPE) after Profit sharing
ACTUAL FY 04/05
Marine, Aviation
& Transit
Gross Premium
Conventional 174,283,507 183,079,996 109,845,105 15,040,000 170,774,989 11,035,000 90,299,000 13,684,000 768,041,597
Takaful 59,654,837 85,498,635 32,319,860 - 19,897,471 - - 9,481,590 206,852,393
UPR
Conventional 8,398,023 6,602,006 (214,960) (8,078,000) 4,650,978 (297,000) (9,922,000) 629,000 1,768,047
Takaful 14,750,220 5,145,110 583,530 - (456,599) - - (34,740) 19,987,521
Increase in unexpired risk reserve 23,148,243 11,747,116 368,570 (8,078,000) 4,194,379 (297,000) (9,922,000) 594,260 21,755,568

Conventional 165,885,484 176,477,990 110,060,065 23,118,000 166,124,011 11,332,000 100,221,000 13,055,000 766,273,550
Takaful 44,904,617 80,353,525 31,736,330 - 20,354,070 - - 9,516,330 186,864,872
Net Reinsurance
Conventional 62,989,191 9,489,764 88,761,586 445,000 30,398,460 7,776,000 85,535,000 4,984,000 290,379,001
Takaful 22,497,470 5,019,458 29,509,980 - 5,864,676 - - 6,847,000 69,738,584
Net Premium
Conventional 102,896,293 166,988,226 21,298,479 22,673,000 135,725,551 3,556,000 14,686,000 8,071,000 475,894,549
Takaful 22,407,147 75,334,067 2,226,350 - 14,489,394 - - 2,669,330 117,126,288
Total Net Premium 125,303,440 242,322,293 23,524,829 22,673,000 150,214,945 3,556,000 14,686,000 10,740,330 593,020,837
Conventional 8,023,365 17,302,810 2,136,880 1,229,000 23,463,324 107,000 (10,000) 312,000 52,564,379
Takaful 1,721,240 8,507,580 (473,040) - 2,547,889 - - (417,950) 11,885,719
Net Commission 9,744,605 25,810,390 1,663,840 1,229,000 26,011,213 107,000 (10,000) (105,950) 64,450,098
Conventional 30,169,226 49,715,327 6,958,970 8,031,182 34,844,345 1,259,599 5,202,044 2,858,893 139,039,585
Takaful 5,722,032 18,310,632 571,523 - 3,376,053 - - 685,239 28,665,479
Management expenses 35,891,258 68,025,959 7,530,492 8,031,182 38,220,398 1,259,599 5,202,044 3,544,132 167,705,064
Conventional 26,211,681 127,558,382 6,184,618 15,265,000 58,837,858 (669,000) 1,548,000 6,071,000 241,007,539
Takaful 5,070,350 42,791,016 (122,610) - 9,184,946 - - 1,076,251 57,999,954
Net Claims Paid (incl. IBNR) 31,282,031 170,349,398 6,062,008 15,265,000 68,022,804 (669,000) 1,548,000 7,147,251 299,007,493
Conventional 38,492,021 (27,588,293) 6,018,011 (1,852,182) 18,580,024 2,858,401 7,945,956 (1,170,893) 43,283,046
Takaful 9,893,526 5,724,838 2,250,477 - (619,494) - - 1,325,789 18,575,137
Underwriting Surplus/(Deficit) 48,385,547 (21,863,454) 8,268,489 (1,852,182) 17,960,530 2,858,401 7,945,956 154,897 61,858,183
KEY RATIO's GENERAL
Net Claims Ratio (over NPE) 24.97% 70.30% 25.77% 67.33% 45.28% -18.81% 10.54% 66.55% 50.42%
Net Commission Expenses (over NPE) 7.78% 10.65% 7.07% 5.42% 17.32% 3.01% -0.07% -0.99% 10.87%
BUDGET FY 05/06
Marine, Aviation
& Transit
Gross Premium
Conventional 187,957,700 225,962,360 162,019,735 3,100,000 204,705,705 20,500,000 98,300,000 20,400,000 922,945,500
Takaful 62,999,862 130,511,860 44,265,332 - 29,277,469 - - 9,713,591 276,768,113
Total Gross Premium 250,957,562 356,474,220 206,285,067 3,100,000 233,983,174 20,500,000 98,300,000 30,113,591 1,199,713,613
UPR
Conventional 6,143,254 16,237,804 480,603 (6,800,000) 10,547,282 (400,000) (400,000) (600,000) 25,208,943
Takaful 16,225,622 15,267,753 (2,883,182) - 1,676,416 - - (695,907) 29,590,702
Increase in unexpired risk reserve 22,368,876 31,505,557 (2,402,579) (6,800,000) 12,223,698 (400,000) (400,000) (1,295,907) 54,799,645

Conventional 181,814,446 209,724,556 161,539,132 9,900,000 194,158,423 20,900,000 98,700,000 21,000,000 897,736,557
Takaful 46,774,240 115,244,106 47,148,513 - 27,601,053 - - 10,409,498 247,177,411
Total Gross Earned Premium 228,588,686 324,968,662 208,687,645 9,900,000 221,759,476 20,900,000 98,700,000 31,409,498 1,144,913,968
Net Reinsurance
Conventional 65,124,499 12,794,882 137,728,538 300,000 35,297,249 14,800,000 97,100,000 12,500,000 375,645,168
Takaful 25,310,862 8,943,464 44,185,545 - 8,605,141 - - 7,307,990 94,353,003
Net Premium
Conventional 116,689,947 196,929,674 23,810,594 9,600,000 158,861,174 6,100,000 1,600,000 8,500,000 522,091,389
Takaful 21,463,378 106,300,643 2,962,968 - 18,995,912 - - 3,101,507 152,824,408
Conventional 15,495,444 20,762,188 2,405,671 100,000 31,187,102 500,000 (2,300,000) 100,000 68,250,405
Takaful 166,261 12,255,672 (133,233) - 4,777,284 - - (155,913) 16,910,073
Net Commission 15,661,705 33,017,860 2,272,438 100,000 35,964,386 500,000 (2,300,000) (55,913) 85,160,478
Conventional 31,347,418 53,911,627 7,066,608 3,210,054 39,805,150 2,039,722 535,009 2,842,235 140,757,823
Takaful 8,623,253 17,185,397 6,284,200 - 3,798,029 - - 1,379,006 37,269,884
Management expenses 39,970,671 71,097,024 13,350,808 3,210,054 43,603,179 2,039,722 535,009 4,221,241 178,027,707
Conventional 30,839,534 124,434,530 10,712,708 8,500,000 67,339,007 5,100,000 2,600,000 6,200,000 255,725,779
Takaful 5,909,170 64,848,861 113,710 - 14,581,221 - - 2,450,036 87,903,000
Conventional 39,007,551 (2,178,671) 3,625,607 (2,210,054) 20,529,915 (1,539,722) 764,991 (642,235) 57,357,382
Takaful 6,764,693 12,010,712 (3,301,710) - (4,160,622) - - (571,622) 10,741,452
Underwriting Surplus/(Deficit) 45,772,244 9,832,041 323,897 (2,210,054) 16,369,293 (1,539,722) 764,991 (1,213,857) 68,098,834
KEY RATIO's GENERAL
Net Claims Ratio (over NPE) 26.60% 62.42% 40.44% 88.54% 46.06% 83.61% 162.50% 74.56% 50.91%
Net Commission Expenses (over NPE) 11.34% 10.89% 8.49% 1.04% 20.22% 8.20% -143.75% -0.48% 12.62%
Net Expense ratio (over NPE) 40.27% 34.34% 58.35% 34.48% 44.74% 41.63% -110.31% 35.90% 39.00%
2 LIFE INSURANCE BUSINESS
3 MANAGEMENT EXPENSES
FY 03/04 FY 04/05 FY 05/06
Idx Expense Items GENERAL LIFE TAKAFUL TOTAL GENERAL LIFE TAKAFUL TOTAL GENERAL LIFE TAKAFUL TOTAL
1 Payroll & Labour Burden 50,137,465 24,597,817 30,898,707 105,633,989 53,357,040 27,857,379 35,700,274 116,914,693 55,795,040 33,314,275 39,318,163 128,427,478
2 Other Staff Costs 6,840,726 649,287 2,230,469 9,720,482 8,286,133 828,545 2,214,909 11,329,588 8,225,932 1,746,342 2,531,156 12,503,430
3 Staff Training & Development 2,706,547 829,184 1,890,489 5,426,219 2,275,431 1,260,135 1,675,369 5,210,935 1,911,550 1,767,129 1,527,821 5,206,500
4 Directors' Fees & Allowance 129,266 113,000 621,902 864,168 113,878 115,740 1,005,522 1,235,140 123,000 120,000 1,075,957 1,318,957
5 Office Accomodation & Facilities 13,715,012 5,976,865 5,829,445 25,521,322 11,146,514 5,333,237 6,477,408 22,957,158 10,182,760 6,532,435 7,243,251 23,958,446
6 IT Costs 9,209,243 3,197,774 7,776,127 20,183,144 11,736,415 6,965,463 4,438,595 23,140,472 12,049,862 11,231,048 7,334,697 30,615,607
7 Communication Costs 2,602,171 768,046 1,583,693 4,953,909 3,359,698 1,013,073 1,761,707 6,134,478 2,424,890 1,866,096 1,800,196 6,091,182
8 Travelling & Entertainment 3,099,293 372,729 848,408 4,320,430 3,467,550 272,245 1,366,880 5,106,675 3,269,868 932,366 1,829,407 6,031,641
9 Advertisement & Promotion 6,888,326 2,184,687 3,605,612 12,678,625 7,303,282 3,531,555 3,879,631 14,714,468 11,389,285 12,528,467 8,939,750 32,857,502
10 Professional Fees 3,543,953 1,712,410 2,338,800 7,595,163 1,815,782 1,760,270 6,534,247 10,110,298 1,445,495 2,606,748 1,906,094 5,958,337
11 Outsider Services & Others 8,832,140 9,656,000 3,862,718 22,350,858 7,750,994 10,443,000 6,429,199 24,623,193 9,479,220 11,254,448 8,099,615 28,833,283
12 Channel Development - 3,731,932 2,485,181 6,217,113 - 5,176,963 2,104,692 7,281,654 773,621 6,096,000 4,500,000 11,369,621
13 Policy Related Expenses 1,764,109 3,339,899 2,820,483 7,924,492 1,879,138 3,858,159 4,559,176 10,296,474 2,124,878 4,205,537 4,198,436 10,528,851
14 Licence, Subscription & Levies 1,235,844 472,111 163,902 1,871,856 1,493,301 121,000 223,207 1,837,508 1,628,318 427,205 235,193 2,290,717
15 All Others 5,506,834 2,439,608 3,812,733 11,759,175 5,935,377 2,334,211 4,227,866 12,497,454 5,712,872 2,862,550 3,109,119 11,684,541
16 Depreciation 21,239,111 5,345,940 4,162,678 30,747,729 19,530,463 4,634,455 6,778,900 30,943,818 14,221,232 11,980,560 12,146,855 38,348,647
Total Management Expenses 137,450,039 65,387,288 74,931,346 277,768,674 139,450,995 75,505,428 89,377,582 304,334,005 140,757,823 109,471,206 105,795,710 356,024,739
General Business
Profit and loss
(in RM)
FY '03/04 FY 04/05 FY '03/04 FY 05/06 FY 04/05 FY 06/07 FY 05/06 FY 07/08 FY 06/07 FY '08/09 FY 07/08
MGAB 285,129,000 325,054,597 14% 396,245,500 22% 480,887,000 21% 528,975,700 10% 581,873,270 10%
MNI 507,705,000 442,987,000 -13% 526,700,000 19% 579,000,000 10% 619,530,000 7% 648,300,000 5%
Gross written premiums 792,834,000 768,041,597 -3% 922,945,500 20% 1,059,887,000 15% 1,148,505,700 8% 1,230,173,270 7%
MGAB (2,386,000) 18,890,047 -892% 21,708,943 15% 26,071,000 20% 28,678,100 10% 31,545,910 10%
MNI (4,889,000) (17,122,000) 250% 3,500,000 -120% 26,500,000 657% 27,300,000 3% 27,800,000 2%
Increase in unexpired risk reserve (7,275,000) 1,768,047 -124% 25,208,943 1326% 52,571,000 109% 55,978,100 6% 59,345,910 6%
MGAB 287,515,000 306,164,550 6% 374,536,557 22% 454,816,000 21% 500,297,600 10% 550,327,360 10%
MNI 512,594,000 460,109,000 -10% 523,200,000 14% 552,500,000 6% 592,230,000 7% 620,500,000 5%
Gross premium earned 800,109,000 766,273,550 -4% 897,736,557 17% 1,007,316,000 12% 1,092,527,600 8% 1,170,827,360 7%
MGAB 57,580,000 48,660,931 -15% 62,245,168 28% 75,538,000 21% 83,091,800 10% 91,400,980 10%
MNI 328,853,000 241,718,000 -26% 313,400,000 30% 301,100,000 -4% 322,177,000 7% 337,138,394 5%
Reinsurance Premium 386,433,000 290,378,931 -25% 375,645,168 29% 376,638,000 0% 405,268,800 8% 428,539,374 6%
MGAB 229,935,000 257,503,619 12% 312,291,389 21% 379,278,000 21% 417,205,800 10% 458,926,380 10%
MNI 183,741,000 218,391,000 19% 209,800,000 -4% 251,400,000 20% 270,053,000 7% 283,361,606 5%
Net Premium Earned 413,676,000 475,894,619 15% 522,091,389 10% 630,678,000 21% 687,258,800 9% 742,287,986 8%
MGAB 32,997,000 39,545,379 20% 53,550,405 35% 64,270,000 20% 70,697,000 10% 77,766,700 10%
MNI 11,486,000 13,018,000 13% 21,300,000 64% 25,300,000 19% 27,071,000 7% 28,328,135 5%
Net commission incurred 44,483,000 52,563,379 18% 74,850,405 42% 89,570,000 20% 97,768,000 9% 106,094,835 9%
MGAB 88,585,000 96,641,539 9% 125,025,779 29% 175,036,091 40% 194,290,061 11% 215,661,967 11%
MNI 121,226,000 144,364,000 19% 132,700,000 -8% 150,800,000 14% 161,356,000 7% 168,849,119 5%
Net Claims Incurred 209,811,000 241,005,539 15% 257,725,779 7% 325,836,091 26% 355,646,061 9% 384,511,086 8%
MGAB 61,828,000 61,681,585 0% 70,604,773 14% 78,145,671 11% 85,178,782 9% 92,844,872 9%

MNI 78,686,000 77,358,000 -2% 70,153,050 -9% 78,700,000 12% 83,658,100 6% 87,154,556 4%
Management Expenses 140,514,000 139,039,585 -1% 140,757,823 1% 156,845,671 11% 168,836,882 8% 179,999,428 7%
MGAB 46,525,000 59,635,116 28% 63,110,432 6% 61,826,238 -2% 67,039,958 8% 72,652,841 8%
MNI (27,657,000) (16,349,000) -41% (14,353,050) -12% (3,400,000) -76% (2,032,100) -40% (970,203) -52%
Net Underwriting Result 18,868,000 43,286,116 129% 48,757,382 13% 58,426,238 20% 65,007,858 11% 71,682,638 10%
MGAB 34,843,000 28,485,233 -18% 32,051,000 13% 35,896,000 12% 39,485,600 10% 43,434,160 10%
MNI 105,024,000 72,817,000 -31% 68,600,000 -6% 53,500,000 -22% 53,800,000 1% 53,800,000 0%
Investment Income 139,867,000 101,302,233 -28% 100,651,000 -1% 89,396,000 -11% 93,285,600 4% 97,234,160 4%
MGAB (6,929,000) 33,142 -100% (6,272,885) -19027% (6,416,792) 2% (6,492,792) 1% (6,576,392) 1%
MNI (10,205,000) (10,205,000) 0% (10,100,000) -1% (10,205,000) 1% (1,700,000) -83% (1,700,000) 0%
Other Gains & losses (17,134,000) (10,171,858) -41% (16,372,885) 61% (16,621,792) 2% (8,192,792) -51% (8,276,392) 1%
MGAB #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!

MNI 40,000,000 30,000,000 -25% 40,000,000 33% 40,000,000 0% 44,000,000 10% 48,000,000 9%
Life Surplus Transfer 40,000,000 30,000,000 -25% 40,000,000 33% 40,000,000 0% 44,000,000 10% 48,000,000 9%
MGAB 74,439,000 88,153,491 18% 88,888,547 1% 91,305,446 3% 100,032,766 10% 109,510,609 9%

MNI 107,162,000 76,263,000 -29% 84,146,950 10% 79,895,000 -5% 94,067,900 18% 99,129,797 5%
Profit (Loss) Before Taxes 181,601,000 164,416,491 -9% 173,035,497 5% 171,200,446 -1% 194,100,666 13% 208,640,406 7%
MNI LIFE Surplus transfer 40,000,000.00 30,000,000.00 (0.25) 40,000,000.00 0.33 40,000,000.00 - 44,000,000.00 0.10 48,000,000.00
PBT after minus MNI Life surplus 141,601,000.00 134,416,491.00 0.16 133,035,497.00 (0.28) 131,200,446.28 (0.01) 150,100,665.91 0.03 160,640,405.57
MGAB 19,839,000 25,331,085 28% 25,647,927 1% 27,526,000 7% 30,993,076 13% 33,646,872 9%
MNI 21,745,000 20,460,000 -6% 23,561,146 15% 22,370,600 -5% 26,339,012 18% 27,756,343 5%
Taxes 41,584,000 45,791,085 10% 49,209,073 7% 49,896,600 1% 57,332,088 15% 61,403,215 7%
MGAB 54,600,000 62,822,406 15% 63,240,620 1% 63,779,446 1% 69,039,690 8% 75,863,737 10%

MNI 85,417,000 55,803,000 -35% 60,585,804 9% 57,524,400 -5% 67,728,888 18% 71,373,454 5%
Profit (Loss) After Taxes 140,017,000 118,625,406 -15% 123,826,424 4% 121,303,846 -2% 136,768,578 13% 147,237,190 8%
KEY RATIO's Actual Actual Budget Budget Budget Budget

FY '03/04 FY 04/05 FY 05/06 FY 06/07 FY 07/08 FY '08/09
GROSS ROSF (SH Surplus Arrising over avg. SHF) 26.80% 27.50% 27.10%
Reinsurance % of Gross earned Premium 48.30% 37.89% 41.84% 37.39% 37.09% 36.60%
Net Claims Ratio (over NPE) 50.72% 50.64% 49.36% 51.66% 51.75% 51.80%
Net Commission Expenses (over NPE) 10.75% 11.05% 14.34% 14.20% 14.23% 14.29%
Net Management Expense ratio (over NPE) 33.97% 29.22% 26.96% 24.87% 24.57% 24.25%
Net Expense ratio (over NPE) 44.72% 40.26% 41.30% 39.07% 38.79% 38.54%
Net Combined ratio (over NPE) 95.44% 90.90% 90.66% 90.74% 90.54% 90.34%
Cost Pressure Ratio (ME/PBT Local+ ME) 43.62% 45.82% 44.86% 47.81% 46.52% 46.32%
Investment income (%) 4.30% 4.80% 4.80% 4.80% 4.80% 4.80%
Consolidate all the supporting schedules (SS-MGAB+MNI-General)
GENERAL BUSINESS - SUPPORTING SCHEDULE
1 UNDERWRITING RESULT
ACTUAL FY 03/04
Marine, Aviation &

Transit
Gross Premium
MGAB 85,326,423 64,097,091 7,348,710 128,356,286 285,128,510
MNI 69,280,000 112,528,000 121,027,000 22,344,000 20,825,000 11,544,000 130,666,000 19,490,000 507,704,000
UPR
MGAB 3,055,672 (5,283,922) 145,743 (303,427) (2,385,934)
MNI (8,235,000) (1,893,000) 1,335,000 (832,000) 12,000 (2,371,000) 8,603,000 (1,509,000) (4,890,000)
Increase in unexpired risk reserve (5,179,328) (7,176,922) 1,480,743 (832,000) (291,427) (2,371,000) 8,603,000 (1,509,000) (7,275,934)

MGAB 82,270,751 69,381,013 7,202,967 - 128,659,713 - - - 287,514,444
MNI 77,515,000 114,421,000 119,692,000 23,176,000 20,813,000 13,915,000 122,063,000 20,999,000 512,594,000
Net Reinsurance
MGAB 21,231,405 4,272,941 3,056,587 29,018,780 57,579,713
MNI 48,154,000 6,066,000 110,676,000 388,000 4,117,000 8,636,000 132,123,000 18,695,000 328,855,000
Net Premium
MGAB 61,039,346 65,108,072 4,146,380 - 99,640,933 - - - 229,934,731
MNI 29,361,000 108,355,000 9,016,000 22,788,000 16,696,000 5,279,000 (10,060,000) 2,304,000 183,739,000
Total Net Premium 90,400,346 173,463,072 13,162,380 22,788,000 116,336,933 5,279,000 (10,060,000) 2,304,000 413,673,731
MGAB 8,944,028 6,900,844 829,383 16,322,460 32,996,715

MNI 299,000 9,932,000 (2,874,000) 2,260,000 2,547,000 (61,000) 811,000 (1,429,000) 11,485,000
Net Commission 9,243,028 16,832,844 (2,044,617) 2,260,000 18,869,460 (61,000) 811,000 (1,429,000) 44,481,715
MGAB 19,115,116 12,954,683 1,295,389 28,462,953 61,828,141

MNI 12,573,675 46,402,390 3,861,049 9,758,827 7,149,964 2,260,701 (4,308,136) 986,674 78,685,144
Management expenses 31,688,791 59,357,073 5,156,438 9,758,827 35,612,917 2,260,701 (4,308,136) 986,674 140,513,285
MGAB 11,552,813 26,251,826 785,820 49,994,055 88,584,514

MNI 6,471,000 76,749,000 15,515,000 14,093,000 (320,000) 2,263,000 2,017,000 4,438,000 121,226,000
MGAB 21,427,389 19,000,719 1,235,788 - 4,861,465 - - - 46,525,361

MNI 10,017,325 (24,728,390) (7,486,049) (3,323,827) 7,319,036 816,299 (8,579,864) (1,691,674) (27,657,144)
Underwriting Surplus/(Deficit) 31,444,714 (5,727,671) (6,250,261) (3,323,827) 12,180,501 816,299 (8,579,864) (1,691,674) 18,868,217
KEY RATIO's GENERAL
Net Claims Ratio (over NPE) 19.94% 59.38% 123.84% 61.84% 42.70% 42.87% -20.05% 192.62% 50.72%
Net Commission Expenses (over NPE) 10.22% 9.70% -15.53% 9.92% 16.22% -1.16% -8.06% -62.02% 10.75%
Net Expense ratio (over NPE) 45.28% 43.92% 23.64% 52.74% 46.83% 41.67% 34.76% -19.20% 44.72%
GENERAL BUSINESS - SUPPORTING SCHEDULE 13

ACTUAL FY 04/05
Marine, Aviation &

Transit
Gross Premium
MGAB 92,865,507 69,707,996 9,411,105 153,069,989 325,054,597
MNI 81,418,000 113,372,000 100,434,000 15,040,000 17,705,000 11,035,000 90,299,000 13,684,000 442,987,000
UPR
MGAB 8,051,023 4,282,006 493,040 6,063,978 18,890,047
MNI 347,000 2,320,000 (708,000) (8,078,000) (1,413,000) (297,000) (9,922,000) 629,000 (17,122,000)
Increase in unexpired risk reserve 8,398,023 6,602,006 (214,960) (8,078,000) 4,650,978 (297,000) (9,922,000) 629,000 1,768,047

MGAB 84,814,484 65,425,990 8,918,065 - 147,006,011 - - - 306,164,550
MNI 81,071,000 111,052,000 101,142,000 23,118,000 19,118,000 11,332,000 100,221,000 13,055,000 460,109,000
Net Reinsurance
MGAB 14,218,191 3,964,764 3,025,586 27,452,460 48,661,001
MNI 48,771,000 5,525,000 85,736,000 445,000 2,946,000 7,776,000 85,535,000 4,984,000 241,718,000
Net Premium
MGAB 70,596,293 61,461,226 5,892,479 - 119,553,551 - - - 257,503,549
MNI 32,300,000 105,527,000 15,406,000 22,673,000 16,172,000 3,556,000 14,686,000 8,071,000 218,391,000
MGAB 8,902,365 8,037,810 1,156,880 21,448,324 39,545,379

MNI (879,000) 9,265,000 980,000 1,229,000 2,015,000 107,000 (10,000) 312,000 13,019,000
Net Commission 8,023,365 17,302,810 2,136,880 1,229,000 23,463,324 107,000 (10,000) 312,000 52,564,379
MGAB 18,727,988 12,335,775 1,501,889 29,115,933 61,681,585

MNI 11,441,238 37,379,552 5,457,081 8,031,182 5,728,412 1,259,599 5,202,044 2,858,893 77,358,000
Management expenses 30,169,226 49,715,327 6,958,970 8,031,182 34,844,345 1,259,599 5,202,044 2,858,893 139,039,585
MGAB 16,885,681 27,444,382 (1,566,382) 53,877,858 96,641,539

MNI 9,326,000 100,114,000 7,751,000 15,265,000 4,960,000 (669,000) 1,548,000 6,071,000 144,366,000
Net Claims Paid (incl. IBNR) 26,211,681 127,558,382 6,184,618 15,265,000 58,837,858 (669,000) 1,548,000 6,071,000 241,007,539
MGAB 26,080,259 13,643,259 4,800,092 - 15,111,436 - - - 59,635,046

MNI 12,411,762 (41,231,552) 1,217,919 (1,852,182) 3,468,588 2,858,401 7,945,956 (1,170,893) (16,352,000)
Underwriting Surplus/(Deficit) 38,492,021 (27,588,293) 6,018,011 (1,852,182) 18,580,024 2,858,401 7,945,956 (1,170,893) 43,283,046
KEY RATIO's GENERAL
Net Claims Ratio (over NPE) 25.47% 76.39% 29.04% 67.33% 43.35% -18.81% 10.54% 75.22% 50.64%
Net Commission Expenses (over NPE) 7.80% 10.36% 10.03% 5.42% 17.29% 3.01% -0.07% 3.87% 11.05%

BUDGET FY 05/06
Marine, Aviation &

Transit
Gross Premium
MGAB 110,357,700 89,962,360 14,719,735 181,205,705 396,245,500
MNI 77,600,000 136,000,000 147,300,000 3,100,000 23,500,000 20,500,000 98,300,000 20,400,000 526,700,000
UPR
MGAB 5,343,254 5,937,804 680,603 9,747,282 21,708,943
MNI 800,000 10,300,000 (200,000) (6,800,000) 800,000 (400,000) (400,000) (600,000) 3,500,000
Increase in unexpired risk reserve 6,143,254 16,237,804 480,603 (6,800,000) 10,547,282 (400,000) (400,000) (600,000) 25,208,943

MGAB 105,014,446 84,024,556 14,039,132 - 171,458,423 - - - 374,536,557
MNI 76,800,000 125,700,000 147,500,000 9,900,000 22,700,000 20,900,000 98,700,000 21,000,000 523,200,000
Net Reinsurance
MGAB 18,824,499 5,994,882 6,528,538 30,897,249 62,245,168
MNI 46,300,000 6,800,000 131,200,000 300,000 4,400,000 14,800,000 97,100,000 12,500,000 313,400,000
Net Premium
MGAB 86,189,947 78,029,674 7,510,594 - 140,561,174 - - - 312,291,389
MNI 30,500,000 118,900,000 16,300,000 9,600,000 18,300,000 6,100,000 1,600,000 8,500,000 209,800,000
MGAB 14,495,444 9,962,188 1,605,671 27,487,102 53,550,405

MNI 1,000,000 10,800,000 800,000 100,000 3,700,000 500,000 (2,300,000) 100,000 14,700,000
Net Commission 15,495,444 20,762,188 2,405,671 100,000 31,187,102 500,000 (2,300,000) 100,000 68,250,405
MGAB 21,148,810 14,153,774 1,616,204 33,685,985 70,604,773

MNI 10,198,608 39,757,853 5,450,404 3,210,054 6,119,165 2,039,722 535,009 2,842,235 70,153,050
Management expenses 31,347,418 53,911,627 7,066,608 3,210,054 39,805,150 2,039,722 535,009 2,842,235 140,757,823
MGAB 19,439,534 45,634,530 2,612,708 57,339,007 125,025,779

MNI 11,400,000 78,800,000 8,100,000 8,500,000 10,000,000 5,100,000 2,600,000 6,200,000 130,700,000
MGAB 31,106,159 8,279,182 1,676,011 - 22,049,080 - - - 63,110,432

MNI 7,901,392 (10,457,853) 1,949,596 (2,210,054) (1,519,165) (1,539,722) 764,991 (642,235) (5,753,050)
Underwriting Surplus/(Deficit) 39,007,551 (2,178,671) 3,625,607 (2,210,054) 20,529,915 (1,539,722) 764,991 (642,235) 57,357,382
KEY RATIO's GENERAL
Net Claims Ratio (over NPE) 26.43% 63.19% 44.99% 88.54% 42.39% 83.61% 162.50% 72.94% 48.98%
Net Commission Expenses (over NPE) 13.28% 10.54% 10.10% 1.04% 19.63% 8.20% -143.75% 1.18% 13.07%
Net Expense ratio (over NPE) 40.14% 37.92% 39.78% 34.48% 44.69% 41.63% -110.31% 34.61% 40.03%

ACTUAL FY 03/04 ACTUAL FY 04/05 BUDGET FY 05/06
Idx Expense Items MGAB MNI TOTAL MGAB MNI TOTAL MGAB MNI TOTAL
Forecast
1 Payroll & Labour Burden 23,132,032 27,005,433 50,137,465 25,996,017 27,361,023 53,357,040 27,961,915 27,833,125 55,795,040
2 Other Staff Costs 1,849,165 4,991,561 6,840,726 1,779,923 6,506,210 8,286,133 1,769,100 6,456,832 8,225,932
3 Staff Training & Development 1,409,805 1,296,742 2,706,547 1,091,407 1,184,024 2,275,431 937,379 974,171 1,911,550
4 Directors' Fees & Allowance 129,266 - 129,266 113,878 - 113,878 123,000 - 123,000
5 Office Accomodation & Facilities 4,220,250 9,494,762 13,715,012 4,171,934 6,974,580 11,146,514 4,341,529 5,841,231 10,182,760
6 IT Costs 4,517,215 4,692,028 9,209,243 4,793,184 6,943,231 11,736,415 7,032,801 5,017,061 12,049,862
7 Communication Costs 828,734 1,773,437 2,602,171 922,185 2,437,513 3,359,698 1,066,275 1,358,615 2,424,890
8 Travelling & Entertainment 629,928 2,469,365 3,099,293 823,046 2,644,504 3,467,550 745,828 2,524,040 3,269,868
9 Advertisement & Promotion 2,624,986 4,263,340 6,888,326 2,619,823 4,683,459 7,303,282 5,596,919 5,792,366 11,389,285
10 Professional Fees 465,525 3,078,428 3,543,953 612,142 1,203,640 1,815,782 578,591 866,904 1,445,495
11 Outsider Services & Others 8,832,140 - 8,832,140 7,750,994 - 7,750,994 9,479,220 - 9,479,220
12 Channel Development - - - - - - - 773,621 773,621
13 Policy Related Expenses 1,763,588 521 1,764,109 1,808,244 70,894 1,879,138 2,013,893 110,985 2,124,878
14 Licence, Subscription & Levies 499,003 736,841 1,235,844 570,065 923,236 1,493,301 558,096 1,070,222 1,628,318
15 All Others 2,958,408 2,548,426 5,506,834 2,489,252 3,446,125 5,935,377 2,368,368 3,344,504 5,712,872
16 Depreciation 7,968,097 13,271,014 21,239,111 6,139,491 13,390,972 19,530,463 6,031,859 8,189,373 14,221,232
Total Management Expenses 61,828,141 75,621,898 137,450,039 61,681,584 77,769,411 139,450,995 70,604,773 70,153,050 140,757,823
3 INVESTMENT INCOME
SHF & GENERAL

IDX DESCRIPTION MGAB MNI TOTAL MGAB MNI TOTAL MGAB MNI TOTAL
1 Interest 17,514,000 26,088,000 43,602,000 18,463,000 26,860,000 45,323,000 21,770,000 31,200,000 52,970,000
2 Dividends from Shares 4,328,000 5,887,000 10,215,000 3,851,000 5,543,000 9,394,000 7,877,000 19,400,000 27,277,000
3 Rental Income 2,383,000 - 2,383,000 2,410,000 - 2,410,000 2,405,000 500,000 2,905,000
4 Misc Income - (12,333,000) (12,333,000) - 2,053,000 2,053,000 - 100,000 100,000
5 Net Accretion/(Amortisation) 690,000 - 690,000 697,000 - 697,000 - 1,800,000 1,800,000
6 Provision for diminution - - - - - - - 12,700,000 12,700,000
7 Gain/(Loss) on Disposal - (21,758,000) (21,758,000) - 9,887,000 9,887,000 - 21,800,000 21,800,000
8 Provision for doubtful debt - - - - - - - 100,000 100,000
9 Investment Expense - - - - - - - (5,500,000) (5,500,000)
TOTAL INVESTMENT INCOME 24,915,000 (2,116,000) 22,799,000 25,421,000 44,343,000 69,764,000 32,052,000 82,100,000 114,152,000
4 CAPITAL EXPENDITURE FY 05/06
IDX DESCRIPTION MGAB MNI TOTAL
1 Office Equipment 322,034 - 322,034

2 Office Furniture / Fitting 145,079 - 145,079
3 Other Equipment - - -
4 Computer Equipment - - -
5 Electrical & Security Equipment 812,000 - 812,000
6 Motor Vehicle 6,000 - 6,000
7 Office Renovation 255,000 - 255,000
8 Kitchen Equipment / Misc Items - - -
9 Other Small Assets 30,000 - 30,000
-
TOTAL CAPITAL EXPENDITURE 1,570,113 - 1,570,113

Mayban General Assurance
Profit and loss
(in RM)
FY '03/04 FY 04/05 FY '03/04 FY 05/06 FY 04/05 FY 06/07 FY 05/06 FY 07/08 FY 06/07 FY 08/09 FY 07/08
Gross written premiums 285,129,000 325,054,597 14% 396,245,500.00 22% 480,887,000.00 21% 528,975,700.00 10% 581,873,270.00 10%
Increase in unexpired risk reserve (2,386,000) 18,890,047 -892% 21,708,943.00 15% 26,071,000.00 20% 28,678,100.00 10% 31,545,910.00 10%
Gross premium earned 287,515,000 306,164,550 6% 374,536,557.00 22% 454,816,000.00 21% 500,297,600.00 10% 550,327,360.00 10%
Reinsurance Premium 57,580,000 48,660,931 -15% 62,245,168.00 28% 75,538,000.00 21% 83,091,800.00 10% 91,400,980.00 10%
Net Premium Earned 229,935,000 257,503,619 12% 312,291,389.00 21% 379,278,000.00 21% 417,205,800.00 10% 458,926,380.00 10%
Net commission incurred 32,997,000 39,545,379 20% 53,550,405.00 35% 64,270,000.00 20% 70,697,000.00 10% 77,766,700.00 10%
Net Claims Incurred 88,585,000 96,641,539 9% 125,025,779.00 29% 175,036,090.60 40% 194,290,060.57 11% 215,661,967.23 11%
Management Expenses 61,828,000 61,681,585 0% 70,604,773.00 14% 78,145,671.12 11% 85,178,781.52 9% 92,844,871.86 9%
Net Underwriting Result 46,525,000 59,635,116 28% 63,110,432.00 6% 61,826,238.28 -2% 67,039,957.91 8% 72,652,840.91 8%
Investment Income 34,843,000 28,485,233 -18% 32,051,000.00 13% 35,896,000.00 12% 39,485,600.00 10% 43,434,160.00 10%
Provision for bad & Doubtfull Debts (decrease = +) 9,474,860 #DIV/0! 5,000,000.00 -47% 5,000,000.00 0% 5,000,000.00 0% 5,000,000.00 0%
Other Expenses (754,983) #DIV/0! 616,093.00 na 760,000.00 23% 836,000.00 10% 919,600.00 10%
Other Gains 460,091 #DIV/0! - na - #DIV/0! - #DIV/0! - #DIV/0!
Amortization of Goodwill 10,656,792 #DIV/0! 10,656,792.00 0% 10,656,792.00 0% 10,656,792.00 0% 10,656,792.00 0%
Other Gains & losses (6,929,000) 33,142 -100% (6,272,885.00) -19027% (6,416,792.00) 2% (6,492,792.00) 1% (6,576,392.00) 1%
Profit (Loss) Before Taxes 74,439,000 88,153,491 18% 88,888,547.00 1% 91,305,446.28 3% 100,032,765.91 10% 109,510,608.91 9%
Taxes 19,839,000 25,331,085 28% 25,647,927.00 1% 27,526,000.00 7% 30,993,076.21 13% 33,646,872.26 9%
Profit (Loss) After Taxes 54,600,000 62,822,406 15% 63,240,620.00 1% 63,779,446.28 1% 69,039,689.70 8% 75,863,736.66 10%
Pro Forma Profit (loss) after tax (Fortis consol. Ex

asset corrections) 65,257,000 73,479,198 13% 73,897,412 1% 74,436,238 1% 79,696,482 7% 86,520,529 9%

FY '03/04 FY 04/05 FY 05/06 FY 06/07 FY 07/08 FY 08/09
GROSS ROSF (SH Surplus Arrising over avg. SHF) 26.80% 27.50% 27.10%
Cost Pressure Ratio (ME/PBT Local+ ME) 45.37% 41.17% 44.27% 46.12% 45.99% 45.88%
Investment income (%) 4.30% 4.80% 4.80% 4.80% 4.80% 4.80%
MAYBAN GENERAL ASSURANCE - SUPPORTING SCHEDULE
ACTUAL FY 03/04
(in RM)
Fire Motor MAT Accident Total

Gross written premiums 85,326,423 64,097,091 7,348,710 128,356,286 285,128,510
Increase in unexpired risk reserve 3,055,672 (5,283,922) 145,743 (303,427) (2,385,934)
Gross premium earned 82,270,751 69,381,013 7,202,967 128,659,713 287,514,444
Reinsurance Premium 21,231,405 4,272,941 3,056,587 29,018,780 57,579,713
Net Premium Earned 61,039,346 65,108,072 4,146,380 99,640,933 229,934,731
Commission Allowed 0
Comission Received 0
Net commission incurred 8,944,028 6,900,844 829,383 16,322,460 32,996,715
Net Claims Paid 0
Net Increase in Claims reserve 0
Net Claims Incurred 11,552,813 26,251,826 785,820 49,994,055 88,584,514
-
Management Expenses 19,115,116 12,954,683 1,295,389 28,462,953 61,828,141
-
Net Underwriting Result 21,427,389 19,000,719 1,235,788 4,861,465 46,525,361
KEY RATIO's
GROSS ROSF (SH Surplus Arrising over avg. SHF) 26.80% 26.80% 26.80% 26.80% 26.80%
Reinsurance % of Gross earned Premium 25.81% 6.16% 42.44% 22.55% 20.03%
Net Claims Ratio (over NPE) 18.93% 40.32% 18.95% 50.17% 38.53%
Net Commission Expenses (over NPE) 14.65% 10.60% 20.00% 16.38% 14.35%
Net Management Expense ratio (over NPE) 31.32% 19.90% 31.24% 28.57% 26.89%
Net Expense ratio (over NPE) 45.97% 30.50% 51.24% 44.95% 41.24%
Net Combined ratio (over NPE) 64.90% 70.82% 70.20% 95.12% 79.77%
Cost Pressure Ratio (ME/PBT Local+ ME) 100.00% 100.00% 100.00% 100.00% 45.37%
Investment income (%) 4.30% 4.30% 4.30% 4.30% 4.30%
MAYBAN GENERAL ASSURANCE - SUPPORTING SCHEDULE 18

ACTUAL FY 04/05
(in RM)

Increase in unexpired risk reserve 8,051,023 4,282,006 493,040 6,063,978 18,890,047
Net commission incurred 8,902,365 8,037,810 1,156,880 21,448,324 39,545,379
Net Claims Paid 0
Net Claims Incurred 16,885,681 27,444,382 (1,566,382) 53,877,858 96,641,539
-
-
KEY RATIO's
Net Claims Ratio (over NPE) 23.92% 44.65% -26.58% 45.07% 37.53%

BUDGET FY 05/06
(in RM)

Increase in unexpired risk reserve 5,343,254 5,937,804 680,603 9,747,282 21,708,943
Net commission incurred 14,495,444 9,962,188 1,605,671 27,487,102 53,550,405
Net Claims Paid 0
Net Claims Incurred 19,439,534 45,634,530 2,612,708 57,339,007 125,025,779
-
-
KEY RATIO's
Net Claims Ratio (over NPE) 22.55% 58.48% 34.79% 40.79% 40.03%

IDX EXPENSE ITEMS ACTUAL FY 03/04 ACTUAL FY 04/05 BUDGET FY 05/06
1 Payroll & Labour Burden

Salaries 15,979,814 16,534,943 18,981,199
Overtime 201,385 162,542 145,006
Social Allowance 21,428 7,200 7,200
Transport Allowance 153,701 141,704 166,559
Shift Allowance - - -
Secretary Allowance 7,211 4,200 4,200
Special/Acting Allowance 125,454 104,195 95,488
Relocation Allowance 8,794 2,250 30,000
Allowance to Branch Managers 33,741 32,914 -
Laundry Allowance 2,667 1,848 2,800
Interest on Housing Loan Sub. - - -
House Rental - - -
Bonus 3,620,168 6,030,817 5,761,295
EPF / CPF 2,879,839 2,871,477 2,671,773
Socso 97,830 101,926 96,396
Sub Total 23,132,032 25,996,017 27,961,915
2 Other Staff Costs

Expatriate housing/benefits 257,288 289,937 180,000
Outstation Allowance 3,258 - -
FSA Allowance 121,226 76,783 89,673
Insurance 755,250 705,457 702,080
Medical Expenses 308,675 397,628 309,287
Uniforms 5,303 1,907 1,100
Refreshment 18,947 29,357 35,696
Staff Function, Award & Gifts - - 26,300
Contribution to Sports Club 100,000 6,762 100,000
Club Membership & Dues (16,139) 1,311 10,000
Staff Welfare 127,901 86,486 120,672
Company Car Expenses & COP Maint 167,455 184,295 194,292
Sub Total 1,849,165 1,779,923 1,769,100
3 Staff Training & Development

Education Assistance & Awards 20,537 19,709 143,748
Seminars & Conferences 1,224,281 994,186 532,412
CSO/FE Training 164,987 77,513 261,219
Sub Total 1,409,805 1,091,407 937,379
4 Directors' Fees & Allowance

Directors' Fees 111,000 93,378 99,000
Directors' Allowances 18,266 20,500 24,000
Sub Total 129,266 113,878 123,000

5 Office Accomodation & Facilities
Quit Rent & Assessment 866,870 860,598 875,000
Office Rental 319,336 185,686 173,837
Repairs & Maintenance 1,163,562 1,457,800 1,466,591
Removal Charges 62,661 44,512 40,000
Office Cleaning 425,382 268,637 280,519
Property Insurance 189,523 156,934 186,824
Small Assets 28,751 15,488 57,980
Hire Of Non IT Equipment 111,096 120,236 120,000
Water Charges 145,100 147,099 150,000
Electricity 907,968 914,942 990,779
Sub Total 4,220,250 4,171,934 4,341,529
6 IT Costs
Software Development/Licence 1,848,618 1,688,817 2,064,609
Repair, Upgrade & Maintenance 606,946 265,479 530,664
Data Protection & Recovery 22,683 40,395 45,598
Data Line 156,923 124,265 20,000
IT Infrastructure Outsourcing Services 1,882,044 2,674,228 4,371,930
Sub Total 4,517,215 4,793,184 7,032,801
7 Communication Costs
Telephone & Fax 625,039 543,671 566,117
Postages & Courier Services 203,695 378,514 500,158
Sub Total 828,734 922,185 1,066,275
8 Travelling & Entertainment

Company Vehicle Expenses 37,737 41,215 45,519
Travelling 387,826 531,956 438,397
Hotel Expenses 40,798 43,799 37,980
Entertaining & Meeting Expenses 163,566 206,075 223,932
Sub Total 629,928 823,046 745,828
9 Advertisement & Promotion

Advertising 121,002 106,922 57,099
Promotion 2,213,984 2,018,875 4,089,820
Direct Mail Costs 290,000 494,027 1,450,000
Sub Total 2,624,986 2,619,823 5,596,919
10 Professional Fees
Audit Fees 167,610 225,755 242,596
Tax Consultancy Fee 24,394 57,993 67,598
Actuarial Fee 72,459 156,599 105,598
Legal Fees 118,225 103,939 78,239
Other Consultancy Fees 82,837 67,856 84,560
Sub Total 465,525 612,142 578,591

11 Outsider Services & Others
Bulkmailing Services 498,167 624,437 480,000
Shared Services 8,281,289 6,975,095 8,699,220
Outsource processing (FWCS/CAB/E.JPJ) 52,684 151,462 300,000
Sub Total 8,832,140 7,750,994 9,479,220
12 Channel Development
13 Policy Related Expenses

Tolerance Limit 45,090 (20,332) 10,000
Printing Cost 1,217,554 1,137,249 1,253,893
Autodebit Charges 500,944 691,328 750,000
Sub Total 1,763,588 1,808,244 2,013,893
14 Licence, Subscription & Levies

Licence Fees 189,684 190,979 190,934
Levies, Contribution & Subscription 309,319 379,086 367,162
Sub Total 499,003 570,065 558,096
15 All Others
Office Printing & Stationery 650,804 781,354 645,002
Misc. Stamp Duties 9,968 7,678 20,000
Bank & Visa Charges/Currencies 363,223 422,660 409,679
Interest on Bank Overdraft,etc - - 2,000
Sundry Expenses/GST Exp. 67,819 40,767 31,901
Newspapers & Publications 58,335 26,187 40,260
Donations 1,769 1,826 10,560
Insurance - Others 47,857 37,222 29,980
Admin & Mgt Expenses - HRMIP 9,524 6,977 10,000
Expenses on Retrocessions 5,449 659 3,000
Internal Audit Expenses 343,634 306 145,598
Surveyor's Fees & Expenses 24,438 18,137 20,000
Interest Payable To Reinsurer 67,135 50,053 18,208
FWCS Manager's Fees-Co 6,360 20,554 -
Merger and Acquisition Expenses - - -
Branch Rationalization 16,278 - -
Agency Allowance 594,976 1,074,873 982,181
Provision for Contigency 690,839 - -
Sub Total 2,958,408 2,489,252 2,368,368

16 Depreciation
Office Equipment 1,768,619 1,716,295 843,780
Office Furniture & Fittings 164,864 125,268 156,662
Computer HW & Software 2,054,649 1,759,541 1,513,441
Motor Vehicles 132,686 36,359 800
Building 1,049,409 865,447 1,051,104
Office Renovations 1,832,723 1,131,985 1,468,672
Electrical & Security Equip 782,158 700,490 814,400
Leasehold Land 182,989 (195,894) 183,000
Sub Total 7,968,097 6,139,491 6,031,859
Total Management Expenses 100,524,251 97,367,152 113,247,631
3 INVESTMENT INCOME
ACTUAL FY 03/04
IDX DESCRIPTION SHF GENERAL TOTAL

1 Interest 1,302,000 16,212,000 17,514,000
2 Dividends from Shares 124,000 4,204,000 4,328,000
3 Rental Income 2,383,000 2,383,000
4 Misc Income -
5 Net Accretion/(Amortisation) (14,000) 704,000 690,000
6 Provision for diminution -
7 Gain/(Loss) on Disposal -
8 Provision for doubtful debt -
9 Investment Expense -
TOTAL INVESTMENT INCOME 1,412,000 23,503,000 24,915,000

ACTUAL FY 04/05
IDX DESCRIPTION SHF GENERAL TOTAL

1 Interest 2,294,000 16,169,000 18,463,000
3 Rental Income 2,410,000 2,410,000
4 Misc Income -
5 Net Accretion/(Amortisation) (47,000) 744,000 697,000
BUDGET FY 05/06
IDX DESCRIPTION SHF GENERAL SINGAPORE TOTAL

1 Interest 3,317,000 15,662,000 2,791,000 21,770,000
2 Dividends from Shares 1,320,000 6,054,000 503,000 7,877,000
3 Real Estate/Rental Income 825,000 1,538,000 42,000 2,405,000
4 Misc Income -
5 Net Accretion/(Amortisation) -
TOTAL INVESTMENT INCOME 5,462,000 23,254,000 3,336,000 32,052,000
IDX DESCRIPTION TOTAL
1 Office Equipment 322,034

2 Office Furniture / Fitting 145,079
3 Other Equipment
4 Computer Equipment
5 Electrical & Security Equipment 812,000
6 Motor Vehicle 6,000
7 Office Renovation 255,000
8 Kitchen Equipment / Misc Items -
9 Other Small Assets 30,000
TOTAL CAPITAL EXPENDITURE 1,570,113

MALAYSIA NATIONAL INSURANCE (GENERAL) - SUPPORTING SCHEDULE
ACTUAL FY 03/04
Fire Motor Medical Misc Accdt Liability Eng Marine Energy Aviation TOTAL
Gross written premiums 69,280,000 112,528,000 22,344,000 20,825,000 11,544,000 19,490,000 63,908,000 130,666,000 57,119,000 507,704,000
Increase in unexpired risk reserve (8,235,000) (1,893,000) (832,000) 12,000 (2,371,000) (1,509,000) 919,000 8,603,000 416,000 (4,890,000)
Gross premium earned 77,515,000 114,421,000 23,176,000 20,813,000 13,915,000 20,999,000 62,989,000 122,063,000 56,703,000 512,594,000
Reinsurance Premium 48,154,000 6,066,000 388,000 4,117,000 8,636,000 18,695,000 54,288,000 132,123,000 56,388,000 328,855,000
Net Premium Earned 29,361,000 108,355,000 22,788,000 16,696,000 5,279,000 2,304,000 8,701,000 (10,060,000) 315,000 183,739,000
Commission Allowed
Comission Received
Net commission incurred 299,000 9,932,000 2,260,000 2,547,000 (61,000) (1,429,000) (2,588,000) 811,000 (286,000) 11,485,000
Net Claims Paid
Net Increase in Claims reserve
Net Claims Incurred 6,471,000 76,749,000 14,093,000 (320,000) 2,263,000 4,438,000 13,038,000 2,017,000 2,477,000 121,226,000
Management Expenses 12,573,675 46,402,390 9,758,827 7,149,964 2,260,701 986,674 3,726,152 (4,308,136) 134,897 78,685,144
Net Underwriting Result (Before ME) 10,017,325 (24,728,390) (3,323,827) 7,319,036 816,299 (1,691,674) (5,475,152) (8,579,864) (2,010,897) (27,657,144)
KEY RATIO's Fire Motor Medical Misc Accdt Liability Eng Marine Energy Aviation TOTAL
GROSS ROSF (SH Surplus Arrising over avg. SHF) #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A
Reinsurance % of Gross earned Premium 62.12% 5.30% 1.67% 19.78% 62.06% 89.03% 86.19% 108.24% 99.44% 64.16%
Net Claims Ratio (over NPE) 22.04% 70.83% 61.84% -1.92% 42.87% 192.62% 149.84% -20.05% 786.35% 65.98%
Net Commission Expenses (over NPE) 1.02% 9.17% 9.92% 15.26% -1.16% -62.02% -29.74% -8.06% -90.79% 6.25%
Net Management Expense ratio (over NPE) 42.82% 42.82% 42.82% 42.82% 42.82% 42.82% 42.82% 42.82% 42.82% 42.82%
Net Expense ratio (over NPE) 43.84% 51.99% 52.74% 58.08% 41.67% -19.20% 13.08% 34.76% -47.97% 49.08%
Net Combined ratio (over NPE) 65.88% 122.82% 114.59% 56.16% 84.54% 173.42% 162.93% 14.71% 738.38% 115.05%
Investment income (%) #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A
MALAYSIA NATIONAL INSURANCE (GENERAL) - SUPPORTING SCHEDULE 26

ACTUAL FY 04/05
Increase in unexpired risk reserve 347,000 2,320,000 (8,078,000) (1,413,000) (297,000) 629,000 (661,000) (9,922,000) (47,000) (17,122,000)
Net Premium Earned 32,300,000 105,527,000 22,673,000 16,172,000 3,556,000 8,071,000 14,468,000 14,686,000 938,000 218,391,000
Commission Allowed
Comission Received
Net commission incurred (879,000) 9,265,000 1,229,000 2,015,000 107,000 312,000 1,718,000 (10,000) (738,000) 13,019,000
Net Claims Paid
Net Claims Incurred 9,326,000 100,114,000 15,265,000 4,960,000 (669,000) 6,071,000 7,619,000 1,548,000 132,000 144,366,000
Management Expenses 11,441,238 37,379,552 8,031,182 5,728,412 1,259,599 2,858,893 5,124,824 5,202,044 332,256 77,358,000
Net Underwriting Result (Before ME) 12,411,762 (41,231,552) (1,852,182) 3,468,588 2,858,401 (1,170,893) 6,176 7,945,956 1,211,744 (16,352,000)
Net Claims Ratio (over NPE) 28.87% 94.87% 67.33% 30.67% -18.81% 75.22% 52.66% 10.54% 14.07% 66.10%
Net Commission Expenses (over NPE) -2.72% 8.78% 5.42% 12.46% 3.01% 3.87% 11.87% -0.07% -78.68% 5.96%
Net Expense ratio (over NPE) 32.70% 44.20% 40.84% 47.88% 38.43% 39.29% 47.30% 35.35% -43.26% 41.38%
Net Combined ratio (over NPE) 61.57% 139.07% 108.17% 78.55% 19.62% 114.51% 99.96% 45.89% -29.18% 107.49%
BUDGET FY 05/06
Increase in unexpired risk reserve 800,000 10,300,000 (6,800,000) 800,000 (400,000) (600,000) (500,000) (400,000) 300,000 3,500,000
Net Premium Earned 30,500,000 118,900,000 9,600,000 18,300,000 6,100,000 8,500,000 15,600,000 1,600,000 700,000 209,800,000
Commission Allowed
Comission Received
Net commission incurred 1,000,000 10,800,000 100,000 3,700,000 500,000 100,000 1,200,000 (2,300,000) (400,000) 14,700,000
Net Claims Paid
Net Claims Incurred 11,400,000 78,800,000 8,500,000 10,000,000 5,100,000 6,200,000 7,800,000 2,600,000 300,000 130,700,000
Management Expenses 10,198,608 39,757,853 3,210,054 6,119,165 2,039,722 2,842,235 5,216,337 535,009 234,066 70,153,050
Net Underwriting Result (Before ME) 7,901,392 (10,457,853) (2,210,054) (1,519,165) (1,539,722) (642,235) 1,383,663 764,991 565,934 (5,753,050)
Net Claims Ratio (over NPE) 37.38% 66.27% 88.54% 54.64% 83.61% 72.94% 50.00% 162.50% 42.86% 62.30%
Net Commission Expenses (over NPE) 3.28% 9.08% 1.04% 20.22% 8.20% 1.18% 7.69% -143.75% -57.14% 7.01%
Net Expense ratio (over NPE) 36.72% 42.52% 34.48% 53.66% 41.63% 34.61% 41.13% -110.31% -23.70% 40.44%
Net Combined ratio (over NPE) 74.09% 108.80% 123.02% 108.30% 125.24% 107.56% 91.13% 52.19% 19.15% 102.74%


Salary & Payroll 23,137,931 23,217,617 23,301,800
Bonus 3,867,502 4,143,406 4,531,325
Sub Total 27,005,433 27,361,023 27,833,125
2 Other Staff Costs

Staff Benefit 4,991,561 6,506,210 6,456,832
Salary - V SS Prov. - - -
Sub Total 4,991,561 6,506,210 6,456,832

Training 1,296,742 1,184,024 974,171
Sub Total 1,296,742 1,184,024 974,171

Director's Remunation - - -
Allowance - - -
Other Payments - - -
Sub Total - - -

Rent & Rates 5,579,645 5,091,612 4,621,199
Repair & Maintenance 2,751,762 857,411 397,503
M/vehicle-Exp 231,953 246,030 184,555
Electricity & Water 931,402 779,527 637,974
Sub Total 9,494,762 6,974,580 5,841,231
6 IT Costs
Edp Exp 4,692,028 6,943,231 5,017,061
Sub Total 4,692,028 6,943,231 5,017,061
Postage/Telephone/Telex/Telefax 1,773,437 2,437,513 1,358,615
Sub Total 1,773,437 2,437,513 1,358,615

Entertainment 808,080 1,217,165 1,181,314
Travelling 1,661,285 1,427,339 1,342,726
Sub Total 2,469,365 2,644,504 2,524,040

Advertising 4,263,340 4,683,459 5,792,366
Sub Total 4,263,340 4,683,459 5,792,366
Auditor's Fees 153,300 154,703 113,779
Legal Expenses 320,103 144,301 119,002
Professional Fees 2,605,025 904,636 634,123
Sub Total 3,078,428 1,203,640 866,904

MF Chargeback
MBB Chargeback
Sub Total - - -
Agency Related Expresses - - 773,621
Sub Total - - 773,621

Stamp Duty 521 70,894 110,985
Sub Total 521 70,894 110,985

IGSF 602,574 1,357,593 1,009,285
Oth-Subscription & Levies 116,384 (441,227) 60,937
Oth-Trade Subscription 17,883 6,870 -
Sub Total 736,841 923,236 1,070,222
15 All Others
Prnting & Stationery 1,326,636 1,549,353 1,416,288
Miscellaneous Expenses - - -
Oth-Audit Confirmation Changes - - -
Oth-Bank Changes 937,907 1,664,352 1,665,706
Oth-Donation 98,483 137,351 131,972
Oth-Gith & Promotion - - 100,000
Oth-Housing Loan (1,113) - -
Oth-Leaase & Rental 7,537 3,043 -
Oth-Newspapers & Periodicals 90,823 (37,791) 25,257
Oth-Publication & Journal - - -
Oth-S.Tax 10,201 - 346
Oth-Small Balance Waiver 4 (65) -
Oth-Sundry 77,948 129,882 4,935
Sub Total 2,548,426 3,446,125 3,344,504
16 Depreciation
Depreciation 13,271,014 13,390,972 8,189,373
Sub Total 13,271,014 13,390,972 8,189,373
3 INVESTMENT INCOME
IDX DESCRIPTION ACTUAL FY 03/04 ACTUAL FY 04/05 BUDGET FY 05/06

1 Interest 26,088,000 26,860,000 31,200,000
2 Dividends from Shares 5,887,000 5,543,000 19,400,000
3 Rental Income 500,000
4 Misc Income (12,333,000) 2,053,000 100,000
5 Net Accretion/(Amortisation) 1,800,000
6 Provision for diminution 12,700,000
7 Gain/(Loss) on Disposal (21,758,000) 9,887,000 21,800,000
8 Provision for doubtful debt 100,000
9 Investment Expense (5,500,000)
TOTAL INVESTMENT INCOME (2,116,000) 44,343,000 82,100,000
1 Office Equipment
2 Office Furniture / Fitting
3 Other Equipment
4 Computer Equipment
5 Electrical & Security Equipment
6 Motor Vehicle
7 Office Renovation
8 Kitchen Equipment / Misc Items
9 Other Small Assets
TOTAL CAPITAL EXPENDITURE -

MNI
Profit and loss LIFE

(in RM) Actual Actual Vs Budget Vs Budget Vs Budget Vs Budget Vs
FY '03/04 FY 04/05 FY '03/04 FY '05/06 FY 04/05 FY '06/07 FY '05/06 FY '07/08 FY '06/07 FY '08/09 FY '07/08
Gross Premium 709,852,000 1,026,204,000 45% 952,500,000 -7% 1,102,000,000 16% 1,190,160,000 8% 1,275,000,000 7%
(Net) Reinsurance ceded 8,236,000 4,517,000 -45% 12,000,000 166% 13,883,465 16% 14,994,142 8% 16,062,992 7%
Net Premium 701,616,000 1,021,687,000 46% 940,500,000 -8% 1,088,116,535 16% 1,175,165,858 8% 1,258,937,008 7%
Investment income all insurance funds 217,194,000 181,396,000 -16% 164,500,000 -9% 190,000,000 16% 230,000,000 21% 260,000,000 13%
TOTAL NET INCOME 918,810,000 1,203,083,000 31% 1,105,000,000 -8% 1,278,116,535 16% 1,405,165,858 10% 1,518,937,008 8%
Benefit Payments 184,851,000 231,035,000 25% 252,700,000 9% 298,340,155 18% 351,479,047 18% 408,400,929 16%
Comission & agency related expenses 48,109,000 61,200,000 27% 82,000,000 34% 94,870,341 16% 102,459,969 8% 109,763,780 7%
Management Expenses 26,214,000 34,295,000 31% 61,300,000 79% 66,110,682 8% 70,870,652 7% 75,417,435 6%
Doubtfull Debts (+ = increase) - - #DIV/0! - #DIV/0! - #DIV/0! - #DIV/0! - #DIV/0!
Total Expenses 74,323,000 95,495,000 28% 143,300,000 50% 160,981,024 12% 173,330,620 8% 185,181,214 7%
Total Claims & Expenses (Before Actuarial Liabilities) 259,174,000 326,530,000 26% 396,000,000 21% 459,321,179 16% 524,809,667 14% 593,582,144 13%
Taxation on Investment income 32,534,000 15,428,000 -53% 13,160,000 -15% 15,200,000 16% 18,400,000 21% 20,800,000 13%
Technical Surplus before Actuarial Liabilities & transferts, after Tax 627,102,000 861,125,000 37% 695,840,000 -19% 803,595,357 15% 861,956,191 7% 904,554,864 5%
Increase in Actuarial Liabilities 432,502,000 730,703,310 69% 598,168,099 -18% 686,272,235 15% 710,547,280 4% 727,646,519 2%
ACTUARIAL SURPLUS ARRISING 194,600,000 130,421,690 -33% 97,671,901 -25% 117,323,122 20% 151,408,912 29% 176,908,345 17%
Surplus Attributable to Policyholders (bonus + reserve) 123,930,000 60,682,497 -51% 45,444,702 -25% 54,588,006 20% 70,447,415 29% 82,311,770 17%
SURPLUS ARRISING ATTRIBUTABLE TO SHAREHOLDERS 70,670,000 69,739,193 -1% 52,227,199 -25% 62,735,115 20% 80,961,497 29% 94,596,575 17%
(Pro Forma) TRANSFER TO SHAREHOLDER FUND 40,000,000 30,000,000 -25% 40,000,000 33% 40,000,000 0% 44,000,000 10% 48,000,000 9%
for information: Retained SHF Surplus In Policyholder funds boy 200,320,000 225,720,000 13% 261,588,664 16% 273,815,863 5% 296,550,979 8% 333,512,476 12%
for information: Extra allocation to Policy holders 5,270,000 3,870,528 -27% - - - -
for information: Retained SHF Surplus In Policyholder funds to date 225,720,000 261,588,664 16% 273,815,863 5% 296,550,979 8% 333,512,476 12% 380,109,051 14%
Pro Forma Profit (loss) after tax (Ex IFRS asset corrections -Life) 47,088,000 47,425,438 1% 37,603,583 -21% 45,169,283 20% 58,292,278 29% 68,109,534 17%
KEY RATIO's / Indicators Actual Actual Budget Budget Budget Budget

FY '03/04 FY 04/05 FY '05/06 FY '06/07 FY '07/08 FY '08/09
AUM (boy) 2,213,339,000 2,800,441,000 3,631,249,000 4,287,089,000 5,050,684,357 5,868,640,548
AUM (eoy) 2,800,441,000 3,631,566,000 4,287,089,000 5,050,684,357 5,868,640,548 6,725,195,412
AUM Growth (Vs. Last year to date) 27% 30% 18% 18% 16% 15%
Investment Return Life Fund (ex. Investment Linked) 8.66% 5.64% 4.15% 4.07% 4.21% 4.13%
Management expense ratio (over average AUM) (Budget = EOY) 1.05% 1.07% 1.55% 1.42% 1.30% 1.20%
Profit and loss General + SHF
Gross written premiums 507,705,000 442,987,000 -13% 526,700,000 19% 579,000,000 10% 619,530,000 7% 648,300,000 5%
Increase in unexpired risk reserve (4,889,000) (17,122,000) 250% 3,500,000 -120% 26,500,000 657% 27,300,000 3% 27,800,000 2%
Gross premium earned 512,594,000 460,109,000 -10% 523,200,000 14% 552,500,000 6% 592,230,000 7% 620,500,000 5%
Reinsurance Premium 328,853,000 241,718,000 -26% 313,400,000 30% 301,100,000 -4% 322,177,000 7% 337,138,394 5%
Net Premium Earned 183,741,000 218,391,000 19% 209,800,000 -4% 251,400,000 20% 270,053,000 7% 283,361,606 5%
Net commission incurred 11,486,000 13,018,000 13% 21,300,000 64% 25,300,000 19% 27,071,000 7% 28,328,135 5%
Net Claims Incurred 121,226,000 144,364,000 19% 132,700,000 -8% 150,800,000 14% 161,356,000 7% 168,849,119 5%
Management Expenses 78,686,000 77,358,000 -2% 70,153,050 -9% 78,700,000 12% 83,658,100 6% 87,154,556 4%
Net Underwriting Result (27,657,000) (16,349,000) -41% (14,353,050.00) -12% (3,400,000.00) -76% (2,032,100.00) -40% (970,203.34) -52%
Investment Income (Gen+ SH) 105,024,000 72,817,000 -31% 68,600,000 -6% 53,500,000 -22% 53,800,000 1% 53,800,000 0%
Provision for bad & Doubtfull Debts (decrease = +) 0 #DIV/0! - #DIV/0! - #DIV/0! - #DIV/0! - #DIV/0!
Other Expenses 0 - na - #DIV/0! - #DIV/0! - #DIV/0!
Other Gains 0 #DIV/0! 100,000 na - -100% - #DIV/0! - #DIV/0!
Amortization of Goodwill 10,205,000 10,205,000 0% 10,200,000 0% 10,205,000 0% 1,700,000 -83% 1,700,000 0%
Other Gains & losses (10,205,000) (10,205,000) 0% (10,100,000.00) -1% (10,205,000.00) 1% (1,700,000.00) -83% (1,700,000.00) 0%
Life Surplus Transfer 40,000,000 30,000,000 -25% 40,000,000 33% 40,000,000 0% 44,000,000 10% 48,000,000 9%
Profit (Loss) Before Taxes 107,162,000 76,263,000 -29% 84,146,950 10% 79,895,000 -5% 94,067,900 18% 99,129,797 5%
Profit (Loss) Before Taxes - Life Surplus Transfer 67,162,000.00 46,263,000.00 44,146,950.00 39,895,000.00 50,067,900.00 51,129,796.66
Taxes 21,745,000 20,460,000 -6% 23,561,146 15% 22,370,600 -5% 26,339,012 18% 27,756,343 5%
Profit (Loss) After Taxes 85,417,000 55,803,000 -35% 60,585,804.00 9% 57,524,400.00 -5% 67,728,888.00 18% 71,373,453.59 5%
Pro Forma Profit (loss) after tax (Ex IFRS asset corrections, + Life
Retained Surplus) 103,705,000 81,628,438 -21% 69,389,387 -15% 73,893,683 6% 94,341,166 28% 104,922,988 11%

FY '03/04 FY 04/05 FY '05/06 FY '06/07 FY '07/08 FY '08/09
GROSS ROSF (SH Surplus Arrising over avg. SHF) #N/A #N/A #N/A #N/A #N/A #N/A
Investment income (%) #N/A #N/A #N/A #N/A #N/A #N/A

Life Business
Profit and loss
Actual Actual Vs Budget Vs Budget Vs Budget Vs Budget

FY '03/04 FY 04/05 FY '03/04 FY '05/06 FY 04/05 FY '06/07 FY '05/06 FY '07/08 FY '06/07 FY '08/09
MLA 993,277,301 951,619,119 -4% 1,407,251,000 48% 1,638,705,000 16% 1,884,510,750 15% 2,167,187,363
MNI 709,852,000 1,026,204,000 45% 952,500,000 -7% 1,102,000,000 16% 1,190,160,000 8% 1,275,000,000
Gross Premium 1,703,129,301 1,977,823,119 16% 2,359,751,000 19% 2,740,705,000 16% 3,074,670,750 12% 3,442,187,363
MLA 2,857,051 5,901,234 107% 6,830,145 16% 8,670,976 27% 9,971,622 15% 11,467,366
MNI 8,236,000 4,517,000 -45% 12,000,000 166% 13,883,465 16% 14,994,142 8% 16,062,992
(Net) Reinsurance ceded 11,093,051 10,418,234 -6% 18,830,145 81% 22,554,441 20% 24,965,764 11% 27,530,358
MLA 990,420,250 945,717,885 -5% 1,400,420,855 48% 1,630,034,024 16% 1,874,539,128 15% 2,155,719,997
MNI 701,616,000 1,021,687,000 46% 940,500,000 -8% 1,088,116,535 16% 1,175,165,858 8% 1,258,937,008
Net Premium 1,692,036,250 1,967,404,885 16% 2,340,920,855 19% 2,718,150,559 16% 3,049,704,986 12% 3,414,657,005
MLA 93,457,000 182,348,713 95% 218,777,000 20% 277,628,000 27% 350,225,394 26% 435,839,554
MNI 217,194,000 181,396,000 -16% 164,500,000 -9% 190,000,000 16% 230,000,000 21% 260,000,000
Investment income all insurance funds 310,651,000 363,744,713 17% 383,277,000 5% 467,628,000 22% 580,225,394 24% 695,839,554
MLA 1,083,877,250 1,128,066,598 4% 1,619,197,855 44% 1,907,662,024 18% 2,224,764,522 17% 2,591,559,550
MNI 918,810,000 1,203,083,000 31% 1,105,000,000 -8% 1,278,116,535 16% 1,405,165,858 10% 1,518,937,008
TOTAL NET INCOME 2,002,687,250 2,331,149,598 16% 2,724,197,855 17% 3,185,778,559 17% 3,629,930,380 14% 4,110,496,558
MLA 149,861,371 130,497,344 -13% 206,418,250 58% 328,686,519 59% 377,989,497 15% 434,687,921
MNI 184,851,000 231,035,000 25% 252,700,000 9% 298,340,155 18% 351,479,047 18% 408,400,929
Benefit Payments 334,712,371 361,532,344 8% 459,118,250 27% 627,026,674 37% 729,468,544 16% 843,088,851
MLA 40,423,547 43,328,577 7% 53,659,000 24% 57,831,000 8% 66,505,650 15% 76,481,498

MNI 48,109,000 61,200,000 27% 82,000,000 34% 94,870,341 16% 102,459,969 8% 109,763,780
Comission & agency related expenses 88,532,547 104,528,577 18% 135,659,000 30% 152,701,341 13% 168,965,619 11% 186,245,277
MLA 32,288,041 33,328,239 3% 48,111,455 44% 49,782,053 3% 54,760,258 10% 60,236,284
MNI 26,214,000 34,295,000 31% 61,300,000 79% 66,110,682 8% 70,870,652 7% 75,417,435

Management Expenses 58,502,041 67,623,239 16% 109,411,455 62% 115,892,735 6% 125,630,910 8% 135,653,719
0
MLA - - #DIV/0! - #DIV/0! - #DIV/0! - #DIV/0! -
MNI - - #DIV/0! - #DIV/0! - #DIV/0! - #DIV/0! -
Doubtfull Debts (+ = increase) - - #DIV/0! - #DIV/0! - #DIV/0! - #DIV/0! -
MLA 72,711,588 76,656,816 5% 101,770,455 33% 107,613,053 6% 121,265,908 13% 136,717,782

MNI 74,323,000 95,495,000 28% 143,300,000 50% 160,981,024 12% 173,330,620 8% 185,181,214
Total Expenses 147,034,588 172,151,816 17% 245,070,455 42% 268,594,077 10% 294,596,528 10% 321,898,996
MLA 222,572,959 207,154,160 -7% 308,188,705 49% 436,299,572 42% 499,255,405 14% 571,405,703
MNI 259,174,000 326,530,000 26% 396,000,000 21% 459,321,179 16% 524,809,667 14% 593,582,144
Total Claims & Expenses (Before Actuarial Liabilities) 481,746,959 533,684,160 11% 704,188,705 32% 895,620,751 27% 1,024,065,072 14% 1,164,987,847
MLA 5,322,000 14,201,723 167% 17,502,000 23% 22,210,240 27% 28,018,032 26% 34,867,164
MNI 32,534,000 15,428,000 -53% 13,160,000 -15% 15,200,000 16% 18,400,000 21% 20,800,000
Taxation on Investment income 37,856,000 29,629,723 -22% 30,662,000 3% 37,410,240 22% 46,418,032 24% 55,667,164
MLA 855,982,291 906,710,715 6% 1,293,507,150 43% 1,449,152,212 12% 1,697,491,085 17% 1,985,286,683
MNI 627,102,000 861,125,000 37% 695,840,000 -19% 803,595,357 15% 861,956,191 7% 904,554,864
Technical Surplus before Actuarial Liabilities & transferts, after Tax 1,483,084,291 1,767,835,715 19% 1,989,347,150 13% 2,252,747,569 13% 2,559,447,277 14% 2,889,841,547
MLA 789,306,831 788,217,715 0% 1,171,270,799 49% 1,306,155,757 12% 1,529,989,559 17% 1,789,386,656
MNI 432,502,000 730,703,310 69% 598,168,099 -18% 686,272,235 15% 710,547,280 4% 727,646,519
Increase in Actuarial Liabilities 1,221,808,831 1,518,921,025 24% 1,769,438,898 16% 1,992,427,992 13% 2,240,536,839 12% 2,517,033,175
MLA 66,675,460 118,493,000 78% 122,236,351 3% 142,996,455 17% 167,501,526 17% 195,900,027
MNI 194,600,000 130,421,690 -33% 97,671,901 -25% 117,323,122 20% 151,408,912 29% 176,908,345
ACTUARIAL SURPLUS ARRISING 261,275,460 248,914,690 -5% 219,908,252 -12% 260,319,577 18% 318,910,438 23% 372,808,372
MLA 26,090,460 63,382,000 143% 46,849,351 -26% 57,198,582 22% 70,350,641 23% 82,278,011
MNI 123,930,000 60,682,497 -51% 45,444,702 -25% 54,588,006 20% 70,447,415 29% 82,311,770
Surplus Attributable to Policyholders (bonus + reserve) 150,020,460 124,064,497 -17% 92,294,053 -26% 111,786,588 21% 140,798,056 26% 164,589,782
MLA 40,585,000 55,111,000 36% 75,387,000 37% 85,797,873 14% 97,150,885 13% 113,622,016
MNI 70,670,000 69,739,193 -1% 52,227,199 -25% 62,735,115 20% 80,961,497 29% 94,596,575
SURPLUS ARRISING ATTRIBUTABLE TO SHAREHOLDERS 111,255,000 124,850,193 12% 127,614,199 2% 148,532,988 16% 178,112,382 20% 208,218,591
MLA 5,000,000 23,029,000 361% 27,311,822 19% 32,000,000 17% 36,234,329 13% 42,377,560
MNI 40,000,000 30,000,000 -25% 40,000,000 33% 40,000,000 0% 44,000,000 10% 48,000,000
(Pro Forma) TRANSFER TO SHAREHOLDER FUND 45,000,000 53,029,000 18% 67,311,822 27% 72,000,000 7% 80,234,329 11% 90,377,560
for information: Retained SHF Surplus In Policyholder funds boy 65,287,000 99,570,000 53% 130,703,000 31% 191,005,377 46% 267,538,365 40% 365,416,419
for information: Extra allocation to Policy holders 31,972,000 40,688,193 27% - - - -
for information: Retained SHF Surplus In Policyholder funds to date 99,570,000 130,703,000 31% 191,005,377 46% 267,538,365 40% 365,416,419 37% 483,257,450
MLA
TRANSFER TO SHAREHOLDER FUND 5,000,000 23,029,000 361% 27,311,822 19% 32,000,000 17% 36,234,329 13% 42,377,560
Management Expenses in SHF 43,135 (26,000) -160% 10,000 -138% 10,000 0% 11,000 10% 12,100
Investment Income in SHF 4,961,246 5,286,000 7% 7,268,576 38% 8,772,673 21% 9,649,940 10% 10,614,934
Doubtfull Debts (+ = increase) in SHF - - #DIV/0! - - #DIV/0! - #DIV/0! -
PROFIT (LOSS) BEFORE TAX 9,918,111 28,341,000 186% 34,570,398 22% 40,762,673 18% 45,873,269 13% 52,980,394
Pro Forma Taxation 2,953,343 7,921,204 168% 9,685,000 22% 11,413,548 18% 12,844,515 13% 14,834,510
PROFIT (LOSS) AFTER TAX 6,964,768 20,419,796 193% 24,885,398 22% 29,349,125 18% 33,028,754 13% 38,145,884
Vs
FY '07/08
15%
7%
12%
15%
7%
10%
15%
7%
12%
24%
13%
20%
16%
8%
13%
15%
16%
16%
15%
7%
10%
10%
6%
8%
#DIV/0!
#DIV/0!
#DIV/0!
13%
7%
9%
14%
13%
14%
24%
13%
20%
17%
5%
13%
17%
2%
12%
17%
17%
17%
17%
17%
17%
17%
17%
17%
17%
9%
13%
37%
32%
17%
10%
10%
#DIV/0!
15%
15%
15%
LIFE BUSINESS - SUPPORTING SCHEDULE
1 Gross premium breakdown

MLA MNI TOTAL MLA MNI TOTAL MLA MNI TOTAL
New business and single 819,993,814 524,319,820 1,344,313,633 772,963,887 824,126,869 1,597,090,756 1,204,000,000 733,200,000 1,937,200,000
Renewal 173,283,427 185,536,849 358,820,276 178,655,232 202,077,015 380,732,247 203,251,000 224,200,000 427,451,000
Total 993,277,241 709,856,669 1,703,133,909 951,619,119 1,026,203,884 1,977,823,003 1,407,251,000 957,400,000 2,364,651,000
Idx Expense Items MLA MNI TOTAL MLA MNI TOTAL MLA MNI TOTAL
2 Other Staff Costs 672,000 (22,714) 649,287 439,840 388,705 828,545 712,096 1,034,246 1,746,342
3 Staff Training & Development 405,000 424,184 829,184 625,000 635,135 1,260,135 780,000 987,129 1,767,129
4 Directors' Fees & Allowance 113,000 - 113,000 115,740 - 115,740 120,000 - 120,000
5 Office Accomodation & Facilities 2,231,000 3,745,865 5,976,865 1,603,000 3,730,237 5,333,237 2,638,000 3,894,435 6,532,435
6 IT Costs 1,773,000 1,424,774 3,197,774 1,343,000 5,622,463 6,965,463 2,679,701 8,551,347 11,231,048
7 Communication Costs 440,000 328,046 768,046 544,000 469,073 1,013,073 600,000 1,266,096 1,866,096
8 Travelling & Entertainment 37,000 335,729 372,729 39,000 233,245 272,245 100,000 832,366 932,366
9 Advertisement & Promotion 1,189,000 995,687 2,184,687 1,647,000 1,884,555 3,531,555 5,690,000 6,838,467 12,528,467
10 Professional Fees 813,000 899,410 1,712,410 1,015,000 745,270 1,760,270 1,925,000 681,748 2,606,748
11 Outsider Services & Others 9,656,000 - 9,656,000 10,443,000 - 10,443,000 11,254,448 - 11,254,448
12 Channel Development 441,000 3,290,932 3,731,932 358,000 4,818,963 5,176,963 890,000 5,206,000 6,096,000
13 Policy Related Expenses 2,873,000 466,899 3,339,899 3,301,000 557,159 3,858,159 3,605,537 600,000 4,205,537
14 Licence, Subscription & Levies 99,000 373,111 472,111 121,000 - 121,000 223,000 204,205 427,205
15 All Others 771,000 1,668,608 2,439,608 481,000 1,853,211 2,334,211 564,500 2,298,050 2,862,550
16 Depreciation 3,599,000 1,746,940 5,345,940 2,450,000 2,184,455 4,634,455 4,104,285 7,876,275 11,980,560
LIFE BUSINESS - SUPPORTING SCHEDULE 36

3 INVESTMENT INCOME
SHF & FAMILY

IDX DESCRIPTION MLA MNI TOTAL MLA MNI TOTAL MLA MNI TOTAL
1 Interest 58,138,000 91,880,900 150,018,900 73,613,000 120,459,414 194,072,414 122,403,000 129,400,000 251,803,000
2 Dividends from Shares 2,735,000 17,640,097 20,375,097 4,311,000 22,951,829 27,262,829 13,795,000 27,500,000 41,295,000
3 Rental Income 4,504,000 13,922,918 18,426,918 4,238,000 10,130,543 14,368,543 4,367,000 11,800,000 16,167,000
4 Misc Income - 193,434 193,434 - (822,918) (822,918) - (1,000,000) (1,000,000)
5 Net Accretion/(Amortisation) 10,287,000 - 10,287,000 14,635,000 - 14,635,000 - 1,500,000 1,500,000
6 Provision for diminution - - - - - - - 10,500,000 10,500,000
7 Gain/(Loss) on Disposal - (16,279,524) (16,279,524) - 32,202,013 32,202,013 - 37,100,000 37,100,000
8 Provision for doubtful debt - - - - - - - (200,000) (200,000)
9 Investment Expense - (640,664) (640,664) - (711,136) (711,136) - (1,300,000) (1,300,000)
TOTAL INVESTMENT INCOME 75,664,000 106,717,161 182,381,161 96,797,000 184,209,745 281,006,745 140,565,000 215,300,000 355,865,000
IDX DESCRIPTION MLA MNI TOTAL
1 Office Equipment 350,400 126,650 477,050

2 Office Furniture / Fitting 287,500 1,278,350 1,565,850
3 Other Equipment 9,000 - 9,000
4 Computer Equipment 6,395,722 8,437,600 14,833,322
5 Electrical & Security Equipment 873,200 - 873,200
6 Motor Vehicle - 90,000 90,000
7 Office Renovation 442,000 17,854,646 18,296,646
9 Other Small Assets - - -
-
TOTAL CAPITAL EXPENDITURE 8,357,822 27,787,246 36,145,068
LIFE BUSINESS - SUPPORTING SCHEDULE 37

Mayban Life Assurance
Profit and loss

FY '03/04 FY 04/05 FY '03/04 FY '05/06 FY 04/05 FY '06/07 FY '05/06 FY '07/08 FY '06/07 FY '08/09 FY '07/08
Gross Premium 993,277,301 951,619,119 -4% 1,407,251,000 48% 1,638,705,000 16% 1,884,510,750 15% 2,167,187,363 15%
(Net) Reinsurance ceded 2,857,051 5,901,234 107% 6,830,145 16% 8,670,976 27% 9,971,622 15% 11,467,366 15%
Net Premium 990,420,250 945,717,885 -5% 1,400,420,855 48% 1,630,034,024 16% 1,874,539,128 15% 2,155,719,997 15%
Investment income all insurance funds 93,457,000 182,348,713 95% 218,777,000 20% 277,628,000 27% 350,225,394 26% 435,839,554 24%
TOTAL NET INCOME 1,083,877,250 1,128,066,598 4% 1,619,197,855 44% 1,907,662,024 18% 2,224,764,522 17% 2,591,559,550 16%
Benefit Payments 149,861,371 130,497,344 -13% 206,418,250 58% 328,686,519 59% 377,989,497 15% 434,687,921 15%
Comission & agency related expenses 40,423,547 43,328,577 7% 53,659,000 24% 57,831,000 8% 66,505,650 15% 76,481,498 15%
Management Expenses 32,288,041 33,328,239 3% 48,111,455 44% 49,782,053 3% 54,760,258 10% 60,236,284 10%
Doubtfull Debts (+ = increase) #DIV/0! #DIV/0! #DIV/0! #DIV/0!
Total Expenses 72,711,588 76,656,816 5% 101,770,455 33% 107,613,053 6% 121,265,908 13% 136,717,782 13%
Total Claims & Expenses (Before Actuarial Liabilities) 222,572,959 207,154,160 -7% 308,188,705 49% 436,299,572 42% 499,255,405 14% 571,405,703 14%
Taxation on Investment income 5,322,000 14,201,723 167% 17,502,000 23% 22,210,240 27% 28,018,032 26% 34,867,164 24%
Technical Surplus before Actuarial Liabilities & transferts, after Tax 855,982,291 906,710,715 6% 1,293,507,150 43% 1,449,152,212 12% 1,697,491,085 17% 1,985,286,683 17%
Increase in Actuarial Liabilities 789,306,831 788,217,715 0% 1,171,270,799 49% 1,306,155,757 12% 1,529,989,559 17% 1,789,386,656 17%
ACTUARIAL SURPLUS ARRISING 66,675,460 118,493,000 78% 122,236,351 3% 142,996,455 17% 167,501,526 17% 195,900,027 17%
Surplus Attributable to Policyholders (bonus + reserve) 26,090,460 63,382,000 143% 46,849,351 -26% 57,198,582 22% 70,350,641 23% 82,278,011 17%
SURPLUS ARRISING ATTRIBUTABLE TO SHAREHOLDERS 40,585,000 55,111,000 36% 75,387,000 37% 85,797,873 14% 97,150,885 13% 113,622,016 17%
(Pro Forma) TRANSFER TO SHAREHOLDER FUND 5,000,000 23,029,000 361% 27,311,822 19% 32,000,000 17% 36,234,329 13% 42,377,560 17%
for information: Retained SHF Surplus In Policyholder funds boy 65,287,000 99,570,000 53% 130,703,000 31% 178,778,178 37% 232,576,051 30% 293,492,608 26%
for information: Extra allocation to Policy holders 1,302,000 949,000 -27% - - - -
for information: Retained SHF Surplus In Policyholder funds to date 99,570,000 130,703,000 31% 178,778,178 37% 232,576,051 30% 293,492,608 26% 364,737,064 24%
TRANSFER TO SHAREHOLDER FUND 5,000,000 23,029,000 361% 27,311,822 19% 32,000,000 17% 36,234,329 13% 42,377,560 17%
Management Expenses in SHF 43,135 (26,000) -160% 10,000 -138% 10,000 0% 11,000 10% 12,100 10%
Investment Income in SHF 4,961,246 5,286,000 7% 7,268,576 38% 8,772,673 21% 9,649,940 10% 10,614,934 10%
PROFIT (LOSS) BEFORE TAX 9,918,111 28,341,000 186% 34,570,398 22% 40,762,673 18% 45,873,269 13% 52,980,394 15%
Pro Forma Taxation 2,953,343 7,921,204 168% 9,685,000 22% 11,413,548 18% 12,844,515 13% 14,834,510 15%
PROFIT (LOSS) AFTER TAX 6,964,768 20,419,796 193% 24,885,398 22% 29,349,125 18% 33,028,754 13% 38,145,884 15%
Pro Forma Profit (loss) after tax (Fortis consol. Ex asset corrections) 31,648,528 42,835,556 35% 59,499,526 39% 68,083,593 14% 76,888,674 13% 89,441,892 16%
KEY RATIO's / Indicators Actual Actual Budget Budget Budget Budget
FY '03/04 FY 04/05 FY '05/06 FY '06/07 FY '07/08 FY '08/09
GROSS ROSF (SH Surplus Arrising over avg. SHF + retained surplus) 24.00% 25.10% 27.40%
AUM 2,612,280,000 3,495,646,715 4,761,842,043 6,178,994,255 7,840,251,012 9,783,160,135

AUM Growth (Vs. Last year to date) na 33.82% 36.22% 29.76% 26.89% 24.78%
Investment Return Life Fund (ex. Investment Linked) 4.80% 5.40% 5.25% 5.30% 5.20% 5.10%
Cost pressure ratio (ME/Surplus Arising + ME) 32.63% 21.95% 28.24% 25.82% 24.64% 23.52%
Management expense ratio (over average AUM) (Budget = EOY) 1.70% 1.16% 1.20% 0.91% 0.78% 0.68%
MAYBAN LIFE ASSURANCE - SUPPORTING SCHEDULE
1 PREMIUM
ACTUAL FY 03/04
Ordinary Investment Linked Capital Guarantee Mortgage Group Others Total

New Business 19,905,743 29,279,321 573,750,178 148,519,982 4,393,063 44,145,528 819,993,814
Renewal 130,391,897 42,891,530 173,283,427
Gross Premium 150,297,640 72,170,851 573,750,178 148,519,982 4,393,063 44,145,528 993,277,241
ACTUAL FY 04/05

New Business 349,138,970 57,306,545 145,087,614 158,158,668 4,964,936 58,307,154 772,963,887
Renewal 121,529,312 57,125,919 178,655,232
Gross Premium 470,668,282 114,432,465 145,087,614 158,158,668 4,964,936 58,307,154 951,619,119
BUDGET FY 05/06

New Business 670,000,000 60,000,000 250,000,000 160,000,000 10,000,000 54,000,000 1,204,000,000
Renewal 139,885,000 63,366,000 203,251,000
Gross Premium 809,885,000 123,366,000 250,000,000 160,000,000 10,000,000 54,000,000 1,407,251,000
MAYBAN LIFE ASSURANCE - SUPPORTING SCHEDULE 39


Salaries 4,941,000 5,697,000 7,257,218
Overtime 77,000 79,350 84,000
Social Allowance - - -
Shift Allowance - - -
Actuarial Allowance 44,000 50,000 69,600
COP Car Allowance 37,000 61,430 68,000
Flexible Spending A/C-Taxable 19,000 5,000 56,000
Bonus 1,190,000 1,608,000 2,190,608
EPF 759,000 1,339,000 1,070,665
SOCSO 37,000 45,000 45,663
Leave Passage - - -
Gratuity - - -
Sub Total 7,179,000 8,961,780 10,937,453
2 Other Staff Costs

Housing Allowance - - -
Insurance 285,000 80,000 254,000
Staff Medical Fees 84,000 107,420 99,696
Uniform 1,000 1,000 1,000
Refreshments 38,000 43,420 50,000
Staff Meals 37,000 46,000 52,500
Staff Function, Awards & Gifts 6,000 4,000 6,000
Club Membership & Dues 11,000 6,000 4,500
Staff Welfare 2,000 14,000 3,000
Staff Car Parking Fees - - -
Flexible Spending A/C-Non Tax 27,000 21,000 42,000
Unutilised Leave 81,000 9,000 -
Unutilised Flexi Benefits 29,000 6,000 -
Company Car Expenses 23,000 18,000 40,000
COP Car Maintenance 20,000 32,000 85,000
Sub Total 672,000 439,840 712,096

Education Assistance & Awards 10,000 3,000 30,000
Seminars & Conferences 383,000 599,000 700,000
Professional Memberships 12,000 23,000 50,000
Sub Total 405,000 625,000 780,000

Directors' Fees 82,000 86,370 90,000
Directors' Expenses - Others 7,000 6,370 5,000
Sub Total 113,000 115,740 120,000

Quit Rent & Assess-Self Occup 266,000 247,000 256,000
Warehouse / Office Rental 49,000 68,000 40,000
Repair & Maintenance Assets 438,000 271,000 529,000
Removal Charges 33,000 17,000 30,000
Office Cleaning 141,000 139,000 265,000
Property Insurance 54,000 33,000 39,000
Security Services 46,000 46,000 49,000
Expensed Assets 81,000 25,000 75,000
Paintings 3,000 - 50,000
Hire of Non IT Equipment 87,000 87,000 140,000
Water 27,000 24,000 65,000
Electricity 1,006,000 646,000 1,100,000
Sub Total 2,231,000 1,603,000 2,638,000
6 IT Costs
Computer Exp-Consumables 65,000 36,000 80,000
Software Development - - -
Software Licences/Expenses 10,000 - -
Repair & Maintenance-Computer 754,000 130,000 613,000
Data Protection & Recovery 54,000 2,000 -
Data Line - - -
Internet Costs 11,000 4,000 10,000
Hire of IT Equipment 7,000 7,000 -
IT Outsourcing 872,000 1,164,000 1,976,701
Sub Total 1,773,000 1,343,000 2,679,701

Telephone & Facsimile 124,000 249,000 280,000
Sub Total 440,000 544,000 600,000

Travelling 19,000 19,000 50,000
Entertainment 18,000 20,000 50,000
Sub Total 37,000 39,000 100,000

Product Advertising & Promotion 231,000 1,556,000 3,191,000
Recruitment Expenses 79,000 31,000 50,000
Corporate Promotion 879,000 45,000 2,056,500
Market Research - - 82,500
Direct Mail Costs - 15,000 310,000
Sub Total 1,189,000 1,647,000 5,690,000
Ext Audit Fees 74,000 94,000 190,000
SIRIM Audit Fees 5,000 3,000 5,000
Tax Consultancy Fees 18,000 13,000 20,000
Actuarial Consultancy Fees (58,000) 30,000 -
Legal Fees 23,000 9,000 20,000
Other Consultancy Fees 10,000 24,000 30,000
Portfolio Management Fees 611,000 358,000 350,000
Portfolio Management Fees - Fn - 172,000 1,000,000
IT Other Consultancy Fees 124,000 277,000 300,000
Audit-Incidental Expense 6,000 5,000 10,000
Other Auditors' Consultancy Fees - 30,000 -
Sub Total 813,000 1,015,000 1,925,000

Contract Staff Services 488,000 452,000 250,000
AEA Back-Up Services 67,000 67,000 67,400
Bulkmailing Services 277,000 301,000 320,000
Scanning Charges 56,000 135,000 150,000
MF Chargeback 8,496,000 8,286,000 9,692,722
MBB Chargeback 272,000 1,202,000 774,326
Sub Total 9,656,000 10,443,000 11,254,448

FE Training 441,000 358,000 890,000
Sub Total 441,000 358,000 890,000

Pol-Tolerance Limit - - -
Pol-Waived Amount - - -
Pol-Printing Costs 693,000 698,000 700,000
Pol-Postage & Courier 168,000 426,000 350,000
Pol-Stamp Duties 521,000 461,000 600,000
Pol-Autodebit Charges 1,048,000 1,192,000 1,350,000
Credit Card Charges - 1,000 5,537
Assured Medical Fees 443,000 523,000 600,000
Sub Total 2,873,000 3,301,000 3,605,537

Licence Fees 51,000 51,000 58,000
Levies & Contribution 36,000 61,000 150,000
Trade Subscription 12,000 9,000 15,000
Sub Total 99,000 121,000 223,000
15 All Others
Office Printing & Stationary 490,000 527,000 380,000
Misc. Stamp Duties - 5,000 10,000
Bank Charges 90,000 46,000 100,000
Sundry Expenses 1,000 4,000 10,000
Books,N'papers & Publications 15,000 24,000 24,000
Donations 2,000 - 10,000
Fines And Penalties 165,000 (164,000) -
Meetings And Conventions - - 5,000
Corporate Functions 2,000 - 10,000
Corporate Service Fees 5,000 3,000 10,000
Insurance - Others - 35,000 4,500
Service Tax 1,000 1,000 1,000
Property Valuation Fees - - -
Sub Total 771,000 481,000 564,500
16 Depreciation
Depreciation 3,599,000 2,450,000 4,104,285
Sub Total 3,599,000 2,450,000 4,104,285

3 INVESTMENT INCOME
ACTUAL FY 03/04
IDX DESCRIPTION SHF LIFE TOTAL

1 Interest 4,330,000 53,808,000 58,138,000
3 Rental Income 897,000 3,607,000 4,504,000
4 Misc Income -
5 Net Accretion/(Amortisation) 389,000 9,898,000 10,287,000
ACTUAL FY 04/05
IDX DESCRIPTION SHF LIFE TOTAL

1 Interest 4,590,000 69,023,000 73,613,000
3 Rental Income 844,000 3,394,000 4,238,000
4 Misc Income -
5 Net Accretion/(Amortisation) 595,000 14,040,000 14,635,000

BUDGET FY 05/06
LIFE
IDX DESCRIPTION SHF TOTAL
PAR NON-PAR ANNUITY COMBINED LIFE
1 Interest 5,880,000 33,996,000 76,237,000 6,290,000 116,523,000 122,403,000
2 Dividends from Shares 760,000 6,759,000 5,950,000 326,000 13,035,000 13,795,000
3 Real Estate/Rental Income 628,000 921,000 2,815,000 3,000 3,739,000 4,367,000
4 Misc Income - -
5 Net Accretion/(Amortisation) - -
6 Provision for diminution - -
7 Gain/(Loss) on Disposal - -
8 Provision for doubtful debt - -
9 Investment Expense - -
TOTAL INVESTMENT INCOME 7,268,000 41,676,000 85,002,000 6,619,000 133,297,000 140,565,000
1 Office Equipment 350,400 205,200

2 Office Furniture / Fitting 287,500 134,200
3 Other Equipment 9,000 2,300
4 Computer Equipment 6,395,722
5 Electrical & Security Equipment 873,200 873,200
6 Motor Vehicle
7 Office Renovation 442,000 92,000
9 Other Small Assets 75,000

MALAYSIA NATIONAL INSURANCE (LIFE) - SUPPORTING SCHEDULE
ACTUAL FY 03/04
(in RM) Banc. & Direct Mktg Group Life Private Mortgage FT Mortgage Ordinary Annuity Investment Linked Total
New Business 4,978,320.00 - 28,578,510 33,556,830

Renewal 611,202.00 997,916 183,927,731 185,536,849
Single 456,581,960.00 18,275,808 6,165,306 7,319,451 2,415,466 5,000 490,762,990
Gross Premium 462,171,482 19,273,724 6,165,306 7,319,451 214,921,707 - 5,000 709,856,669
Reinsurance Accepted - -
(Net) Reinsurance ceded - 2,443,528 1,465,554 4,326,604 8,235,686
Net Premium 462,171,482 19,273,724 3,721,778 5,853,896 210,595,103 - 5,000 701,620,983
Investment income Ordinary Life -

Investment Income Unit Linked -
Investment income all insurance funds
TOTAL NET INCOME 462,171,482 19,273,724 3,721,778 5,853,896 210,595,103 - 5,000 701,620,983
Surrender 432,642 533,654 1,726,380 7,786,341 21,847,112 19,409,576 18,666 51,754,371

Death & Disability 348,692 7,964,469 3,679,858 46,158,187 9,164,095 67,315,301
Maturity 38,565,695 38,565,695
Others 5,417 1,057,789 1,605,931 24,346,899 199,036 27,215,072
Benefit Payments 786,751 9,555,912 5,406,238 55,550,459 93,923,801 19,608,612 18,666 184,850,439
Comission & agency related expenses 12,882,466 905,859 (144,942) (185,056) 31,361,367 (938) 44,818,756
Management Expenses 448,108 4,343,642 2,394,767 2,254,811 23,343,305 589 32,785,222
Doubtfull Debts (+ = increase) - (1,947,658) (300,868) (2,248,525)
Total Expenses 13,330,574 3,301,843 2,249,826 1,768,887 54,704,672 589 (938) 75,355,453
Total Claims & Expenses (Before Actuarial Liabilities) 14,117,325 12,857,755 7,656,064 57,319,346 148,628,473 19,609,201 17,728 260,205,891
Taxation on Investment income -

Technical Surplus before Actuarial Liabilities & transferts, after Tax 448,054,157 6,415,968 (3,934,285) (51,465,450) 61,966,630 (19,609,201) (12,728) 441,415,091
MALAYSIA NATIONAL INSURANCE - SUPPORTING SCHEDULE 46

ACTUAL FY 04/05
New Business 10,638,447.00 - 30,164,917 (74,029) 40,729,335

Renewal 4,557,749.00 965,471 196,553,795 202,077,015
Single 739,167,429.00 22,566,827 4,489,815 9,246,840 7,926,623 783,397,534
Gross Premium 754,363,625 23,532,298 4,489,815 9,246,840 234,645,335 (74,029) - 1,026,203,884
(Net) Reinsurance ceded - (12,976) 2,521,460 626,031 1,382,971 4,517,486
Net Premium 754,363,625 23,545,274 1,968,355 8,620,809 233,262,364 (74,029) - 1,021,686,398
Investment income Ordinary Life

Investment Income Unit Linked
TOTAL NET INCOME 754,363,625 23,545,274 1,968,355 8,620,809 233,262,364 (74,029) - 1,021,686,398
Surrender 15,240,211 662,200 4,719,335 4,845,852 25,524,203 22,045,355 73,037,156

Death & Disability 1,213,076 13,939,850 (1,130,882) 48,322,189 9,456,012 71,800,245
Maturity 259,074 110,609 56,898,681 57,268,364
Others 206,212 694,760 1,601,347 25,861,800 551,545 13,896,000 42,811,664
Benefit Payments 16,918,573 15,296,810 3,588,453 54,879,997 117,740,696 22,596,900 13,896,000 244,917,429
Comission & agency related expenses 20,420,983 1,113,392 (70,178) 28,728 34,890,990 (2,751) 56,381,164
Management Expenses 26,321,142 2,831,370 588,656 1,256,446 10,909,904 11,439 41,918,957
Doubtfull Debts (+ = increase) - 269,046 (1,962,101) (1,693,055)
Total Expenses 46,742,125 4,213,808 518,478 (676,927) 45,800,894 8,688 - 96,607,066
Total Claims & Expenses (Before Actuarial Liabilities) 63,660,698 19,510,618 4,106,931 54,203,070 163,541,590 22,605,588 13,896,000 341,524,495
Taxation on Investment income

Technical Surplus before Actuarial Liabilities & transferts, after Tax 690,702,927 4,034,656 (2,138,576) (45,582,261) 69,720,774 (22,679,617) (13,896,000) 680,161,903

BUDGET FY 05/06
New Business 10,100,000.00 - 34,300,000 44,400,000

Renewal 14,300,000.00 - 209,900,000 224,200,000
Single 627,400,000.00 37,500,000 7,700,000 6,000,000 10,200,000 688,800,000
Gross Premium 651,800,000 37,500,000 7,700,000 6,000,000 254,400,000 - - 957,400,000
(Net) Reinsurance ceded - 1,200,000 2,500,000 1,200,000 3,600,000 8,500,000
Net Premium 651,800,000 36,300,000 5,200,000 4,800,000 250,800,000 - - 948,900,000
Investment income Ordinary Life -

Investment Income Unit Linked -
TOTAL NET INCOME 651,800,000 36,300,000 5,200,000 4,800,000 250,800,000 - - 948,900,000
Surrender -
Death & Disability -
Maturity -
Others -
Benefit Payments - Info not available
Comission & agency related expenses -

Management Expenses -
Doubtfull Debts (+ = increase) - -
Total Expenses - - - - - - - -
Total Claims & Expenses (Before Actuarial Liabilities) - - - - - - - -
Taxation on Investment income

Technical Surplus before Actuarial Liabilities & transferts, after Tax 651,800,000 36,300,000 5,200,000 4,800,000 250,800,000 - - 948,900,000


Salaries 12,077,084 12,681,055 14,963,722
Overtime 480,798 556,860 384,480
Staff Allowance 628,825 586,030 529,686
Bonus 1,723,924 - -
Add. Bonus - 2,343,492 3,117,442
Tax deductable - - -
EPF 2,398,988 2,606,339 3,152,765
SOCSO 109,198 121,823 228,727
Sub Total 17,418,817 18,895,599 22,376,822
2 Other Staff Costs

Medical 428,270 463,016 832,061
Staff Insurance 222,576 93,838 102,313
Leave Passage - - 16,282
Amenities (9,559) 30,429 83,590
Club & Subscriptions - 3,182 -
Interest Subsidy - 956 -
Annual Leave Cost (664,000) (202,716) -
Salary - VSS Prov. - - -
Sub Total (22,714) 388,705 1,034,246

Training Cost-Staff 258,188 109,442 231,240
Training Cost-Agent 86,493 149,384 660,000
Training Cost- Others 79,502 78,592 38,612
Training Cost - Accomodation - 59,426 12,918
Training Cost - Travelling - 142,560 17,224
Periodicals - - -
Professional Subscription - 95,730 27,135
Sub Total 424,184 635,135 987,129

Director's Remunation - - -
Allowance - - -
Other Payments - - -
Sub Total - - -

Rent & Rates 3,271,245 3,572,995 3,255,408
Repair & Maintenance 224,583 18,405 243,751
M/Vehicle-Exp 37,514 35,902 176,630
Electricity & Water 212,523 102,936 218,646
Sub Total 3,745,865 3,730,237 3,894,435
6 IT Costs
Edp Exp 1,424,774 5,622,463 8,551,347

Sub Total 1,424,774 5,622,463 8,551,347
Postage/Telephone/Telex/Telefax 328,046 469,073 1,266,096
Sub Total 328,046 469,073 1,266,096

Entertainment 28,513 49,384 259,555
Travelling 307,216 183,861 572,811
Sub Total 335,729 233,245 832,366

Advertising 995,687 1,884,555 6,838,467
Sub Total 995,687 1,884,555 6,838,467
Auditor's Fees 76,650 76,700 195,579
Legal Expenses 9,364 7,496 79,194
Professional Fees 813,396 661,074 406,975
Sub Total 899,410 745,270 681,748

MF Chargeback
MBB Chargeback
Sub Total - - -
Material incentives 1,657,653 2,500,151 3,679,000
Fringe benefits 782,467 1,184,908 247,000
Office maintenance 935,532 1,088,465 1,100,000
Breakway benefits (84,720) 45,438 180,000
Sub Total 3,290,932 4,818,963 5,206,000

Stamp Duty 466,899 557,159 600,000
Sub Total 466,899 557,159 600,000

IGSF 55,717 - -
Other Insurance Levy - - 204,205
Subscription & Levies 317,395 - -
Trade Subscription - - -
Sub Total 373,111 - 204,205

15 All Others
Printing & Stationery 593,422 1,088,196 1,362,329
Miscellaneous Expenses - - -
Oth-Audit Confirmation Changes - - -
Oth-Bank Changes 949,446 421,498 -
Oth-Donation 11,400 24,067 -
Oth-Gith & Promotion - - -
Oth-Housing Loan - - -
Oth-Leaase & Rental 44,527 29,520 -
Oth-Newspapers & Periodicals 81,753 (6,235) -
Oth-Publication & Journal - - -
Oth-S.Tax - - -
Oth-Small Balance Waiver 5,034 2,921 -
Oth-Sundry (9,000) 6,503 -
Oth-Int on claim (7,972) - -
Other Exp - Insurance for policyholder - - -
Other Expenses - 3,262 -
Others - Admin costs - 168,133 207,533
Oth- Bad debts written off - - -
Oth - Bad debts prov - specific - - -
Oth Chgs - Bad debts recovery - - -
Oth - Credit card chgs - 65,885 600,000
Oth - Service fee - 35,196 1,236
Oth - Other Finance Charges - 14,265 126,952
Sub Total 1,668,608 1,853,211 2,298,050
16 Depreciation
Depreciation 1,746,940 2,184,455 7,876,275
Sub Total 1,746,940 2,184,455 7,876,275
3 INVESTMENT INCOME
IDX DESCRIPTION ACTUAL FY 03/04 ACTUAL FY 04/05 BUDGET FY 05/06

1 Interest 91,880,900 120,459,414 129,400,000
2 Dividends from Shares 17,640,097 22,951,829 27,500,000
3 Rental Income 13,922,918 10,130,543 11,800,000
4 Misc Income 193,434 (822,918) (1,000,000)
5 Net Accretion/(Amortisation) - - 1,500,000
6 Provision for diminution - - 10,500,000
7 Gain/(Loss) on Disposal (16,279,524) 32,202,013 37,100,000
8 Provision for doubtful debt - - (200,000)
9 Investment Expense (640,664) (711,136) (1,300,000)

4 CAPITAL EXPENDITURE FY 05/06 (TOTAL COMPANY)

2 Office Furniture / Fitting 1,278,350
3 Other Equipment
7 Office Renovation 17,854,646

Info not available

Takaful Business
Profit and loss
(in RM)
GENERAL FUND FY '03/04 FY 04/05 FY '03/04 FY '05/06 Actual FY '06/07 FY '05/06 FY '07/08 FY '06/07 FY '08/09 FY '07/08
MTB 6,284,870 17,266,072 175% 48,180,000 179% 95,465,000 98% 109,784,750 15% 126,252,463 15%
TN 182,629,274 189,969,000 4% 228,588,000 20% 265,356,974 16% 302,506,950 14% 338,807,784 12%
Gross Contribution General fund 188,914,144 207,235,072 10% 276,768,000 34% 360,821,974 30% 412,291,700 14% 465,060,247 13%
MTB 3,706,995 4,063,970 10% 9,806,000 141% 17,533,000 79% 20,162,950 15% 23,187,393 15%
TN 24,004,790 15,924,000 -34% 19,785,000 24% 20,023,235 1% 18,904,402 -6% 18,904,402 0%

Increase in unexpired risk reserve 27,711,785 19,987,970 -28% 29,591,000 48% 37,556,235 27% 39,067,352 4% 42,091,795 8%
MTB 2,577,875 13,202,102 412% 38,374,000 191% 77,932,000 103% 89,621,800 15% 103,065,070 15%
TN 158,624,484 174,045,000 10% 208,803,000 20% 245,333,739 17% 283,602,548 16% 319,903,382 13%
Gross Earned Contribution 161,202,359 187,247,102 16% 247,177,000 32% 323,265,739 31% 373,224,348 15% 422,968,452 13%
MTB 567,975 1,020,474 80% 6,436,000 531% 12,188,000 89% 14,016,200 15% 16,118,630 15%
TN 70,419,694 69,101,000 -2% 87,917,000 27% 75,188,065 -14% 84,962,513 13% 95,158,015 12%
Net Retakaful 70,987,669 70,121,474 -1% 94,353,000 35% 87,376,065 -7% 98,978,713 13% 111,276,645 12%
MTB 2,009,900 12,181,628 506% 31,938,000 162% 65,744,000 106% 75,605,600 15% 86,946,440 15%
TN 88,204,790 104,944,000 19% 120,886,000 15% 170,145,674 41% 198,640,035 17% 224,745,367 13%
Net Contribution 90,214,690 117,125,628 30% 152,824,000 30% 235,889,674 54% 274,245,635 16% 311,691,807 14%
MTB Wakalah fee 1,254,229 3,844,748 207% 9,636,000 151% 19,094,000 98% 21,958,100 15% 25,251,815 15%
MTB 549,706 1,865,271 239% 4,818,000 158% 9,547,000 98% 10,979,050 15% 12,625,908 15%
TN 9,455,955 10,160,000 7% 12,092,000 19% 28,175,805 133% 32,120,417 14% 35,974,867 12%
Net Commission 10,005,661 12,025,271 20% 16,910,000 41% 37,722,805 123% 43,099,467 14% 48,600,775 13%
MTB 2,090,816 5,926,065 183% 8,291,000 40% 15,000,000 81% 17,025,000 14% 19,323,375 14%
TN 20,495,439 26,940,000 31% 32,452,000 20% 37,149,990 14% 41,830,888 13% 46,348,624 11%
Management expenses 22,586,255 32,866,065 46% 40,743,000 24% 52,149,990 28% 58,855,888 13% 65,671,999 12%
Result from Wakalah fee General for MTB (1,386,293) (3,946,588) 185% (3,473,000) -12% (5,453,000) 57% (6,045,950) 11% (6,697,468) 11%
MTB 3,021,410 6,726,127 123% 19,204,000 186% 40,322,000 110% 46,370,300 15% 53,325,845 15%
TN 44,799,340 50,179,000 12% 68,699,000 37% 97,919,336 43% 110,648,849 13% 123,926,711 12%
Net Claims Paid (incl. IBNR) 47,820,750 56,905,127 19% 87,903,000 54% 138,241,336 57% 157,019,149 14% 177,252,556 13%
MTB 81,389 397,952 389% 877,000 120% 900,000 3% 1,350,000 50% 2,025,000 50%
Takaful Business
Profit Loss 62
TN 7,342,867 11,162,000 52% 15,200,000 36% 16,533,026 9% 17,982,897 9% 17,982,897 0%
Investment Income 7,424,256 11,559,952 56% 16,077,000 39% 17,433,026 8% 19,332,897 11% 20,007,897 3%
MTB (6,320) (40,809) 546% - -100% - #DIV/0! - #DIV/0! - #DIV/0!

TN - - #DIV/0! - #DIV/0! - #DIV/0! - #DIV/0! - #DIV/0!
Other Gains & losses (6,320) (40,809) 546% - -100% - #DIV/0! - #DIV/0! - #DIV/0!
MTB (2,190,670) 1,967,896 -190% 3,975,000 102% 7,228,000 82% 8,627,200 19% 10,393,780 20%
TN 20,796,923 28,827,000 39% 22,843,000 -21% 23,433,570 3% 32,022,777 37% 36,478,061 14%
Revenue Surplus before Taxes & profit Sharing 18,606,253 30,794,896 66% 26,818,000 -13% 30,661,570 14% 40,649,977 33% 46,871,841 15%
Surplus attributable to the company for TN 10,398,550 14,413,000 39% 11,421,000 -21% 11,716,785 3% 16,011,388 37% 18,239,031 14%
MTB - - #DIV/0! - #DIV/0! 2,024,000 #DIV/0! 2,415,616 19% 2,910,258 20%

TN 4,858,740 8,494,000 75% 3,198,000 -62% 7,492,585 134% 8,966,377 20% 10,213,857 14%
Pro Forma Taxes 4,858,740 8,494,000 75% 3,198,000 -62% 9,516,585 198% 11,381,993 20% 13,124,116 15%
MTB (2,190,670) 1,967,896 -190% 3,975,000 102% 5,204,000 31% 6,211,584 19% 7,483,522 20%
TN #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
Revenue Surplus after taxes (2,190,670) 1,967,896 -190% 3,975,000 102% 5,204,000 31% 6,211,584 19% 7,483,522 20%
MTB - - #DIV/0! 3,741,755 #DIV/0! 4,163,200 11% 4,969,267 19% 5,986,817 20%
TN 10,398,550 14,413,000 39% 11,421,000 -21% 11,716,785 3% 16,011,388 37% 18,239,031 14%
Profit Transfer to SHF (Pro Forma) 10,398,550 14,413,000 39% 15,162,755 5% 15,879,985 5% 20,980,656 32% 24,225,848 15%
MTB - - #DIV/0! - #DIV/0! 1,040,800 #DIV/0! 1,242,317 19% 1,496,704 20%

TN 5,539,810 5,919,000 7% 8,223,000 39% 4,224,200 -49% 7,045,011 67% 8,025,173 14%
Profit Transfer to PARTICIPANTS (Pro Forma) 5,539,810 5,919,000 7% 8,223,000 39% 5,265,000 -36% 8,287,328 57% 9,521,878 15%
KEY RATIO's GENERAL Actual Actual Budget Budget Budget Budget

FY '03/04 FY 04/05 FY '05/06 FY '06/07 FY '07/08 FY '08/09
Investment Income 3.00% 3.60% 3.99% 4.00% 4.00% 4.00%
Expenses / Wakalah fee 2598.56% 1167.60% 598.31% 470.69% 464.32% 452.53%
QH Settlement (2,191,000.00) 1,967,896.00 233,245.00 - - -
QH Outstanding 2,201,141.00 233,245.00 - - - -
Takaful Business
Profit Loss 63
FAMILY FUND FY '03/04 FY 04/05 FY '03/04 FY '05/06 Actual FY '06/07 FY '05/06 FY '07/08 FY '06/07 FY '08/09 FY '07/08
MTB 35,632,696 85,998,278 141% 126,050,000 47% 144,735,000 15% 173,682,000 20% 208,418,400 20%
TN 390,431,000 400,812,000 3% 436,927,000 9% 535,003,524 22% 636,654,194 19% 744,885,406 17%
Gross Contribution Family fund 426,063,696 486,810,278 14% 562,977,000 16% 679,738,524 21% 810,336,194 19% 953,303,806 18%
MTB 255,615 394,651 54% 311,000 -21% 557,000 79% 668,400 20% 802,080 20%
TN 4,368,000 4,526,000 4% 5,085,000 12% 4,350,035 -14% 5,176,542 19% 6,160,085 19%
Net Retakaful 4,623,615 4,920,651 6% 5,396,000 10% 4,907,035 -9% 5,844,942 19% 6,962,165 19%
MTB 35,377,081 85,603,627 142% 125,739,000 47% 144,178,000 15% 173,013,600 20% 207,616,320 20%
TN 386,063,000 396,286,000 3% 431,842,000 9% 530,653,489 23% 631,477,652 19% 738,725,322 17%
Wakalah fee 7,126,539 5,716,683 -20% 7,859,000 37% 12,999,000 65% 15,598,800 20% 18,718,560 20%
MTB 2,925,088 3,353,687 15% 5,286,000 58% 7,982,000 51% 9,179,300 15% 10,556,195 15%
TN 57,846,000 57,241,000 -1% 70,003,000 22% 103,063,638 47% 122,645,729 19% 143,495,503 17%
Net Commission 60,771,088 60,594,687 0% 75,289,000 24% 111,045,638 47% 131,825,029 19% 154,051,698 17%
MTB 5,120,865 6,595,058 29% 8,982,870 36% 9,554,000 6% 10,987,100 15% 12,635,165 15%
TN 73,285,000 43,892,000 -40% 50,049,000 14% 52,646,631 5% 57,384,828 9% 61,975,614 8%
Management expenses 78,405,865 50,487,058 -36% 59,031,870 17% 62,200,631 5% 68,371,928 10% 74,610,779 9%
Result from Wakalah fee Family for MTB (919,414) (4,232,062) 360% (6,409,870) 51% (4,537,000) -29% (4,567,600) 1% (4,472,800) -2%
MTB 551,876 2,050,404 272% 4,735,000 131% 8,237,000 74% 10,296,250 25% 12,870,313 25%
TN 86,864,000 142,124,000 64% 136,740,000 -4% 139,279,434 2% 167,135,321 20% 198,891,032 19%
Benefit Payments 87,415,876 144,174,404 65% 141,475,000 -2% 147,516,434 4% 177,431,571 20% 211,761,344 19%
MTB 1,320,707 2,705,149 105% 7,820,000 189% 13,058,000 67% 19,587,000 50% 29,380,500 50%
TN 86,393,000 105,512,000 22% 138,851,000 32% 139,287,464 0% 144,656,432 4% 161,235,890 11%
Investment Income 87,713,707 108,217,149 23% 146,671,000 36% 152,345,464 4% 164,243,432 8% 190,616,390 16%
MTB 48,207 217,709 352% - -100% - #DIV/0! - #DIV/0! - #DIV/0!

TN - - #DIV/0! - #DIV/0! - #DIV/0! - #DIV/0! - #DIV/0!
Other Gains & losses 48,207 217,709 352% - -100% - #DIV/0! - #DIV/0! - #DIV/0!
MTB 29,067,580 80,759,398 178% 120,965,000 50% 136,000,000 12% 166,705,550 23% 205,407,948 23%
TN 254,461,000 258,541,000 2% 313,901,000 21% 374,951,250 19% 428,968,206 14% 495,599,063 16%
Revenue Surplus before Taxes & profit Sharing 283,528,580 339,300,398 20% 434,866,000 28% 510,951,250 17% 595,673,756 17% 701,007,010 18%
MTB 56,397 - -100% 625,000 #DIV/0! 1,045,000 67% 1,566,960 50% 2,350,440 50%
TN 12,242,000 9,058,000 -26% 10,030,000 11% 11,509,455 15% 13,370,826 16% 15,911,283 19%
Pro Forma Taxes 12,298,397 9,058,000 -26% 10,655,000 18% 12,554,455 18% 14,937,786 19% 18,261,723 22%
MTB 29,011,183 80,759,398 178% 120,340,000 49% 134,955,000 12% 165,138,590 22% 203,057,508 23%
TN 242,219,000 249,483,000 3% 303,871,000 22% 363,441,795 20% 415,597,380 14% 479,687,780 15%
Revenue Surplus after taxes 271,230,183 330,242,398 22% 424,211,000 28% 498,396,795 17% 580,735,970 17% 682,745,288 18%
Takaful Business
Profit Loss 64
MTB - - #DIV/0! 2,336,245 #DIV/0! 4,000,000 71% 4,894,627 22% 6,018,525 23%
TN 13,425,000 28,694,000 114% 31,460,000 10% 42,549,327 35% 48,655,353 14% 56,158,627 15%
MTB - - #DIV/0! 584,061 #DIV/0! 1,000,000 71% 1,223,657 22% 1,504,631 23%
TN 4,258,000 6,118,000 44% 6,707,754 10% 9,072,168 35% 10,374,066 14% 11,973,879 15%
Profit Transfer to Participants (Pro Forma) 4,258,000 6,118,000 44% 7,291,815 19% 10,072,168 38% 11,597,723 15% 13,478,510 16%
KEY RATIO's FAMILY Actual Actual Budget Budget Budget Budget

FY '03/04 FY 04/05 FY '05/06 FY '06/07 FY '07/08 FY '08/09
Benefits (over NPE) 20.74% 29.92% 25.37% 21.86% 22.06% 22.38%
AUM BOY 14,961,000 287,284,183 619,185,581 997,623,521 1,439,398,821.42 1,954,987,089.33
AUM EOY 287,284,183 619,185,581 997,623,521 1,439,398,821 1,954,987,089 2,562,076,715
Net Management Expense ratio (over Avg. AUM) 51.88% 11.14% 7.30% 5.10% 4.03% 3.30%
QH Settlement (1,093,000.00) (1,659,000.00) 4,685,000.00 - - -
QH Outstanding 3,026,000.00 4,685,000.00 - - - -
Excess/(deficit) from Wakalah fee for MTB (2,305,707) (8,178,650) 255% (9,882,870.00) 21% (9,990,000.00) 1% (10,613,550.00) 6% (11,170,267.50) 5%
MTB - - #DIV/0! 2,336,245 #DIV/0! 4,000,000 71% 4,894,627 22% 6,018,525 23%
TN 13,425,000 28,694,000 114% 31,460,000 10% 42,549,327 35% 48,655,353 14% 56,158,627 15%
Pro Forma Surplus transfer from Family 13,425,000 28,694,000 114% 33,796,245 18% 46,549,327 38% 53,549,980 15% 62,177,152 16%
MTB - - #DIV/0! 3,741,755 #DIV/0! 4,163,200 11% 4,969,267 19% 5,986,817 20%
TN 10,398,550 14,413,000 39% 11,421,000 -21% 11,716,785 3% 16,011,388 37% 18,239,031 14%
Pro Forma Surplus transfer from General 10,398,550 14,413,000 39% 15,162,755 5% 15,879,985 5% 20,980,656 32% 24,225,848 15%
MTB 1,779,979 3,387,221 90% 5,387,000 59% 5,926,000 10% 6,222,300 5% 6,533,415 5%
TN 7,036,431 2,090,000 -70% 3,958,000 89% 3,697,917 -7% 3,924,130 6% 3,924,130 0%
Investment Income 8,816,410 5,477,221 -38% 9,345,000 71% 9,623,917 3% 10,146,430 5% 10,457,545 3%
MTB - - #DIV/0! - #DIV/0! - #DIV/0! - #DIV/0! - #DIV/0!

TN #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
Other Gains/Expenses - - #DIV/0! - #DIV/0! - #DIV/0! - #DIV/0! - #DIV/0!
TN
Management expenses 7,373,786 7,061,000 -4% 6,022,000 -15% 5,941,892 -1% 5,941,892 0% 5,941,892 0%
Administrative Fees life 20,671,024 13,418,000 -35% 13,964,000 4% 13,560,000 -3% 13,560,000 0% 13,560,000 0%
MTB (525,728) (4,791,429) 811% 1,582,130 -133% 4,099,200 159% 5,472,644 34% 7,368,490 35%
TN 44,157,219 51,554,000 17% 54,781,000 6% 65,582,137 20% 76,208,979 16% 85,939,896 13%
PRO FORMA PROFIT (LOSS) BEFORE TAX 43,631,491 46,762,571 7% 56,363,130 21% 69,681,337 24% 81,681,623 17% 93,308,385 14%
MTB 139,481 (27,212) -120% 616,000 -2364% 1,147,776 86% 1,532,340 34% 2,063,177 35%
TN 21,764,845 14,093,000 -35% 15,339,000 9% 20,492,405 34% 24,153,111 18% 24,153,111 0%
Pro Forma Taxation (- = claw-back) 21,904,326 14,065,788 -36% 15,955,000 13% 21,640,181 36% 25,685,451 19% 26,216,288 2%
Takaful Business
Profit Loss 65
MTB - - #DIV/0! 24,000 #DIV/0! 62,183 159% 83,017 34% 111,776 35%
TN 1,476,000 1,825,000 24% 1,638,000 -10% 1,800,000 10% 1,800,000 0% 1,800,000 0%
Zakat 1,476,000 1,825,000 24% 1,662,000 -9% 1,862,183 12% 1,883,017 1% 1,911,776 2%
MTB (665,209) (4,764,217) 616% 942,130 -120% 2,889,241 207% 3,857,287 34% 5,193,537 35%
TN 20,916,374 35,636,000 70% 37,804,000 6% 43,289,732 15% 50,255,869 16% 59,986,785 19%
PRO FORMA PROFIT (LOSS) AFTER TAX 20,251,165 30,871,783 52% 38,746,130 26% 46,178,974 19% 54,113,156 17% 65,180,322 20%
Takaful Business
Profit Loss 66
Supporting Schedule (need to include Family and General Takaful)
TAKAFUL BUSINESS - SUPPORTING SCHEDULE
ACTUAL FY 03/04
Marine, Aviation &

GENERAL TAKAFUL FUND Fire Motor Medical Misc Accident Liability Energy Others TOTAL
Transit
Gross Contribution
New
MTB 807,012 5,276,591 201,266 6,284,869
TN 31,260,479 40,150,012 15,836,374 10,438,934 6,465,675 104,151,474
TOTAL New 32,067,491 45,426,603 15,836,374 - 10,640,200 - - 6,465,675 110,436,343
Renewal
MTB - - - - -
TN 27,838,874 24,420,947 18,937,204 4,942,984 1,748,651 77,888,660
Total Renewal 27,838,874 24,420,947 18,937,204 - 4,942,984 - - 1,748,651 77,888,660
Total Gross Contribution

MTB 807,012 5,276,591 - - 201,266 - - - 6,284,869
TN 59,099,354 64,570,959 34,773,578 - 15,381,918 - - 8,214,326 182,040,135
Gross Contribution General fund 59,906,366 69,847,550 34,773,578 - 15,583,184 - - 8,214,326 188,325,004
UPR
MTB 411,817 3,204,253 90,925 3,706,995
TN 21,408,877 1,220,633 970,165 (77,825) 482,941 24,004,792
Increase in unexpired risk reserve 21,820,694 4,424,886 970,165 - 13,100 - - 482,941 27,711,787
Gross Earned Contribution

MTB 395,195 2,072,338 - - 110,341 - - - 2,577,874
TN 37,690,476 63,350,327 33,803,413 - 15,459,742 - - 7,731,384 158,035,343
Total Gross Earned Contribution 38,085,671 65,422,665 33,803,413 - 15,570,083 - - 7,731,384 160,613,217
Net Retakaful
MTB 223,924 340,508 3,543 567,975
TN 24,021,308 3,559,667 32,934,501 3,335,886 5,979,192 69,830,554
Total Net Retakaful 24,245,232 3,900,175 32,934,501 - 3,339,429 - - 5,979,192 70,398,529
TAKAFUL BUSINESS - SUPPORTING SCHEDULE 67

Net Contribution
MTB 171,271 1,731,830 - - 106,798 - - - 2,009,899
TN 13,669,168 59,790,659 868,912 - 12,123,857 - - 1,752,192 88,204,788
Total Net Contribution 13,840,439 61,522,489 868,912 - 12,230,655 - - 1,752,192 90,214,687
MTB 74,444 471,123 2,367 547,934

TN 1,815,282 5,962,555 (442,987) 2,316,289 (195,184) 9,455,955
Net Commission 1,889,726 6,433,678 (442,987) - 2,318,656 - - (195,184) 10,003,889
MTB 90,465 591,497 22,562 704,524

TN 4,321,980 8,003,958 4,332,832 1,915,984 1,023,472 19,598,225
Management expenses 4,412,445 8,595,455 4,332,832 - 1,938,546 - - 1,023,472 20,302,749
MTB 98,226 2,742,800 180,384 3,021,410

TN 3,812,526 34,615,808 (656,867) 6,194,210 833,662 44,799,340
Net Claims Paid (incl. IBNR) 3,910,752 37,358,608 (656,867) - 6,374,594 - - 833,662 47,820,750
MTB (91,864) (2,073,590) - - (98,515) - - - (2,263,969)

TN 3,719,380 11,208,338 (2,364,066) - 1,697,374 - - 90,242 14,351,269
Underwriting Surplus/(Deficit) 3,627,516 9,134,748 (2,364,066) - 1,598,859 - - 90,242 12,087,300
KEY RATIO's GENERAL
Reinsurance % of Gross earned Premium 63.66% 5.96% 97.43% #DIV/0! 21.45% #DIV/0! #DIV/0! 77.34% 43.83%
Net Claims Ratio (over NPE) 28.26% 60.72% -75.60% #DIV/0! 52.12% #DIV/0! #DIV/0! 47.58% 53.01%
Net Commission Expenses (over NPE) 13.65% 10.46% -50.98% #DIV/0! 18.96% #DIV/0! #DIV/0! -11.14% 11.09%
Net Management Expense ratio (over NPE) 31.88% 13.97% 498.65% #DIV/0! 15.85% #DIV/0! #DIV/0! 58.41% 22.50%
Net Expense ratio (over NPE) 45.53% 24.43% 447.67% #DIV/0! 34.81% #DIV/0! #DIV/0! 47.27% 33.59%
Net Combined ratio (over NPE) before Profit sharing 73.79% 85.15% 372.07% #DIV/0! 86.93% #DIV/0! #DIV/0! 94.85% 86.60%

Investment
FAMILY TAKAFUL FUND Group Mortgage Individual Annuity Others TOTAL
Linked
Gross Contribution
MTB - 35,632,696 - - 0 35,632,696

TN 49,436,520 204,147,051 132,566,184 (20,973) 386,128,782
Gross Contribution Family fund 49,436,520 239,779,747 132,566,184 (20,973) - - 421,761,478
Net Retakaful
MTB - 255,615 - - 255,615
TN 525,711 2,963,296 195,336 683,235 4,367,578
Total Net Retakaful 525,711 3,218,911 195,336 683,235 - - 4,623,193
Net Contribution
MTB - 35,377,081 - - - - 35,377,081
TN 48,910,808 201,183,755 132,370,848 (704,207) - - 381,761,204
Total Net Contribution 48,910,808 236,560,836 132,370,848 (704,207) - - 417,138,285
ACTUAL FY 04/05
Marine, Aviation &

Transit
Gross Contribution
MTB 2,462,777 12,002,205 2,801,091 17,266,073
TN 57,192,060 73,496,430 32,319,860 17,096,380 9,481,590 189,586,320
UPR
MTB 1,158,100 2,865,090 40,781 4,063,971
TN 13,592,120 2,280,020 583,530 (497,380) - (34,740) 15,923,550
Increase in unexpired risk reserve 14,750,220 5,145,110 583,530 - (456,599) - - (34,740) 19,987,521

MTB 1,304,677 9,137,115 - - 2,760,310 - - - 13,202,102
TN 43,599,940 71,216,410 31,736,330 - 17,593,760 - - 9,516,330 173,662,770

Net Retakaful
MTB 233,150 456,248 331,076 1,020,474
TN 22,264,320 4,563,210 29,509,980 5,533,600 - 6,847,000 68,718,110
Net Contribution
MTB 1,071,527 8,680,867 - - 2,429,234 - - - 12,181,628
TN 21,335,620 66,653,200 2,226,350 - 12,060,160 - - 2,669,330 104,944,660
Total Net Contribution 22,407,147 75,334,067 2,226,350 - 14,489,394 - - 2,669,330 117,126,288
MTB 245,000 1,200,200 280,109 1,725,309

TN 1,476,240 7,307,380 (473,040) 2,267,780 (417,950) 10,160,410
Net Commission 1,721,240 8,507,580 (473,040) - 2,547,889 - - (417,950) 11,885,719
MTB 245,000 1,200,200 280,109 1,725,309

TN 5,477,032 17,110,432 571,523 3,095,944 685,239 26,940,169
Management expenses 5,722,032 18,310,632 571,523 - 3,376,053 - - 685,239 28,665,479
MTB 279,482 6,846,436 694,925 7,820,844

TN 4,790,868 35,944,580 (122,610) 8,490,021 1,076,251 50,179,110
Net Claims Paid (incl. IBNR) 5,070,350 42,791,016 (122,610) - 9,184,946 - - 1,076,251 57,999,954
MTB 302,045 (565,969) - - 1,174,091 - - - 910,166

TN 9,591,481 6,290,808 2,250,477 - (1,793,585) - - 1,325,789 17,664,971
Underwriting Surplus/(Deficit) 9,893,526 5,724,838 2,250,477 - (619,494) - - 1,325,789 18,575,137
Investment Income & various
KEY RATIO's GENERAL
Net Claims Ratio (over NPE) 22.63% 56.80% -5.51% #DIV/0! 63.39% #DIV/0! #DIV/0! 40.32% 49.52%
Net Combined ratio (over NPE) before Profit sharing 55.85% 92.40% -1.08% #DIV/0! 104.28% #DIV/0! #DIV/0! 50.33% 84.14%

Investment
Linked
Gross Contribution
MTB - 15,703,030 5,254,081 - 65,041,168 85,998,279

TN 55,977,024 174,145,970 170,689,146 - 400,812,140
Gross Contribution Family fund 55,977,024 189,849,000 175,943,227 - 65,041,168 - 486,810,419
Net Retakaful
MTB - 157,030 52,541 - 325,206 534,777
TN 513,059 4,073,156 (296,220) 235,855 4,525,850
Total Net Retakaful 513,059 4,230,186 (243,679) 235,855 325,206 - 5,060,627
Net Contribution
MTB - 15,546,000 5,201,540 - 64,715,962 - 85,463,502
TN 55,463,964 170,072,814 170,985,366 (235,855) - - 396,286,289
Total Net Contribution 55,463,964 185,618,813 176,186,907 (235,855) 64,715,962 - 481,749,791
BUDGET FY 05/06
Marine, Aviation &

Transit
Gross Contribution
MTB 7,640,000 32,000,000 8,540,000 48,180,000
TN 55,359,862 98,511,860 44,265,332 20,737,469 9,713,591 228,588,113
UPR
MTB 1,867,873 6,840,000 1,097,600 9,805,473
TN 14,357,750 8,427,753 (2,883,182) 578,816 (695,907) 19,785,229
Increase in unexpired risk reserve 16,225,622 15,267,753 (2,883,182) - 1,676,416 - - (695,907) 29,590,702

MTB 5,772,128 25,160,000 - - 7,442,400 - - - 38,374,528
TN 41,002,113 90,084,106 47,148,513 - 20,158,653 - - 10,409,498 208,802,883
Net Retakaful
MTB 1,528,000 3,200,000 1,708,000 6,436,000
TN 23,782,862 5,743,464 44,185,545 6,897,141 7,307,990 87,917,003
Net Contribution
MTB 4,244,128 21,960,000 - - 5,734,400 - - - 31,938,528
TN 17,219,251 84,340,643 2,962,968 - 13,261,512 - - 3,101,507 120,885,881
Total Net Contribution 21,463,378 106,300,643 2,962,968 - 18,995,912 - - 3,101,507 152,824,408
MTB 764,000 3,200,000 854,000 4,818,000

TN (597,739) 9,055,672 (133,233) 3,923,284 (155,913) 12,092,073
Net Commission 166,261 12,255,672 (133,233) - 4,777,284 - - (155,913) 16,910,073

MTB 764,000 3,200,000 854,000 4,818,000
TN 7,859,253 13,985,397 6,284,200 2,944,029 1,379,006 32,451,884
Management expenses 8,623,253 17,185,397 6,284,200 - 3,798,029 - - 1,379,006 37,269,884
MTB 1,909,857 14,713,200 2,580,480 19,203,537

TN 3,999,313 50,135,661 113,710 12,000,741 2,450,036 68,699,462
Net Claims Paid (incl. IBNR) 5,909,170 64,848,861 113,710 - 14,581,221 - - 2,450,036 87,903,000
MTB 806,270 846,800 - - 1,445,920 - - - 3,098,990

TN 5,958,423 11,163,912 (3,301,710) - (5,606,542) - - (571,622) 7,642,462
Underwriting Surplus/(Deficit) 6,764,693 12,010,712 (3,301,710) - (4,160,622) - - (571,622) 10,741,452
KEY RATIO's GENERAL
Net Claims Ratio (over NPE) 27.53% 61.01% 3.84% #DIV/0! 76.76% #DIV/0! #DIV/0! 79.00% 57.52%
Net Combined ratio (over NPE) before Profit sharing 68.48% 88.70% 211.43% #DIV/0! 121.90% #DIV/0! #DIV/0! 118.43% 92.97%
Investment
Linked
Gross Contribution
MTB - 10,000,000 16,050,000 - 100,000,000 126,050,000

TN 68,254,926 176,176,538 192,495,391 - 436,926,856
Gross Contribution Family fund 68,254,926 186,176,538 208,545,391 - 100,000,000 - 562,976,856
Net Retakaful
MTB - 200,000 160,500 - 1,000,000 1,360,500
TN 1,169,274 2,603,488 1,209,290 102,764 5,084,816
Total Net Retakaful 1,169,274 2,803,488 1,369,790 102,764 1,000,000 - 6,445,316
Net Contribution
MTB - 9,800,000 15,889,500 - 99,000,000 - 124,689,500
TN 67,085,652 173,573,050 191,286,101 (102,764) - - 431,842,040
Total Net Contribution 67,085,652 183,373,050 207,175,601 (102,764) 99,000,000 - 556,531,540

Idx Expense Items MTB TN TOTAL MTB TN TOTAL MTB TN TOTAL
2 Other Staff Costs 133,757 2,096,713 2,230,469 189,992 2,024,917 2,214,909 272,440 2,258,716 2,531,156
3 Staff Training & Development 119,703 1,770,786 1,890,489 393,689 1,281,680 1,675,369 471,000 1,056,821 1,527,821
4 Directors' Fees & Allowance 76,310 545,592 621,902 78,474 927,048 1,005,522 113,000 962,957 1,075,957
5 Office Accomodation & Facilities 176,776 5,652,669 5,829,445 259,562 6,217,846 6,477,408 494,000 6,749,251 7,243,251
6 IT Costs 269,169 7,506,958 7,776,127 285,575 4,153,020 4,438,595 952,728 6,381,969 7,334,697
7 Communication Costs 36,833 1,546,860 1,583,693 41,779 1,719,928 1,761,707 33,000 1,767,196 1,800,196
8 Travelling & Entertainment 30,112 818,296 848,408 30,395 1,336,485 1,366,880 52,000 1,777,407 1,829,407
9 Advertisement & Promotion 196,025 3,409,587 3,605,612 1,107,304 2,772,327 3,879,631 2,779,750 6,160,000 8,939,750
10 Professional Fees 136,852 2,201,947 2,338,800 150,615 6,383,632 6,534,247 233,000 1,673,094 1,906,094
11 Outsider Services & Others 3,862,718 - 3,862,718 5,319,247 1,109,952 6,429,199 6,926,639 1,172,976 8,099,615
12 Channel Development - 2,485,181 2,485,181 - 2,104,692 2,104,692 - 4,500,000 4,500,000
13 Policy Related Expenses 329,784 2,490,699 2,820,483 1,729,037 2,830,139 4,559,176 1,320,000 2,878,436 4,198,436
14 Licence, Subscription & Levies 54,634 109,267 163,902 80,347 142,860 223,207 68,000 167,193 235,193
15 All Others 69,975 3,742,757 3,812,733 106,571 4,121,295 4,227,866 111,000 2,998,119 3,109,119
16 Depreciation 158,480 4,004,198 4,162,678 173,337 6,605,563 6,778,900 231,900 11,914,955 12,146,855

3 INVESTMENT INCOME
SHF
IDX DESCRIPTION MTB TN TOTAL MTB TN TOTAL MTB TN TOTAL
1 Profits 1,259,000 3,038,770 4,297,770 2,806,000 3,215,870 6,021,870 5,153,750 2,902,319 8,056,069
2 Dividends from Shares - 391,220 391,220 82,000 645,920 727,920 232,750 782,187 1,014,937
3 Net Accretion/(Amortisation) 530,000 (34,530) 495,470 524,000 (85,630) 438,370 - (87,632) (87,632)
4 Provision for diminution - 4,309,190 4,309,190 (189,000) (2,622,890) (2,811,890) - 98,160 98,160
5 Gain/(Loss) on Disposal - (678,230) (678,230) 181,000 801,780 982,780 - 1,001,744 1,001,744
6 Provision for doubtful debt - (2,081,000) (2,081,000) - (949,900) (949,900) - (709,500) (709,500)
7 Investment Expense (9,000) (1,570) (10,570) (17,000) (8,410) (25,410) - (26,780) (26,780)
NET INVESTMENT INCOME 1,780,000 4,943,850 6,723,850 3,387,000 996,740 4,383,740 5,386,500 3,960,498 9,346,998
GENERAL
1 Profits 43,000 6,759,140 6,802,140 130,000 7,378,830 7,508,830 877,360 8,452,065 9,329,425
2 Dividends from Shares - 1,033,100 1,033,100 - 1,857,340 1,857,340 - 2,333,337 2,333,337
3 Net Accretion/(Amortisation) 40,000 221,780 261,780 271,000 1,409,570 1,680,570 - 1,685,074 1,685,074
4 Provision for diminution - (437,850) (437,850) - (1,607,710) (1,607,710) - (941,534) (941,534)
5 Gain/(Loss) on Disposal - 81,030 81,030 - 1,997,700 1,997,700 - 4,070,214 4,070,214
6 Provision for doubtful debt (17,000) (430,000) (447,000) (106,000) - (106,000) - - -
7 Investment Expense 7,000 (5,350) 1,650 52,000 (27,310) 24,690 - (29,070) (29,070)
NET INVESTMENT INCOME 73,000 7,221,850 7,294,850 347,000 11,008,420 11,355,420 877,360 15,570,086 16,447,446
FAMILY
1 Profits 731,000 66,063,998 66,794,998 819,000 69,833,935 70,652,935 3,330,740 78,524,503 81,855,243
2 Dividends from Shares - 9,555,574 9,555,574 - 17,497,553 17,497,553 - 20,157,361 20,157,361
3 Net Accretion/(Amortisation) 598,000 119,590 717,590 1,257,000 11,477,305 12,734,305 - 12,868,086 12,868,086
4 Provision for diminution - (672,565) (672,565) - (7,015,214) (7,015,214) - (2,036,664) (2,036,664)
5 Gain/(Loss) on Disposal - 11,149,010 11,149,010 294,000 13,394,386 13,688,386 - 26,693,008 26,693,008
6 Provision for doubtful debt - (30,673,498) (30,673,498) - - - - 2,600,000 2,600,000
7 Investment Expense (6,000) (10,413) (16,413) (12,000) (65,750) (77,750) - (53,344) (53,344)
NET INVESTMENT INCOME 1,323,000 55,531,696 56,854,696 2,358,000 105,122,214 107,480,214 3,330,740 138,752,950 142,083,690
TOTAL
1 Profits 2,033,000 75,861,908 77,894,908 3,755,000 80,428,635 84,183,635 9,361,850 89,878,887 99,240,737
2 Dividends from Shares - 10,979,894 10,979,894 82,000 20,000,813 20,082,813 232,750 23,272,885 23,505,635
3 Net Accretion/(Amortisation) 1,168,000 306,840 1,474,840 2,052,000 12,801,245 14,853,245 - 14,465,527 14,465,527
4 Provision for diminution - 3,198,775 3,198,775 (189,000) (11,245,814) (11,434,814) - (2,880,038) (2,880,038)
5 Gain/(Loss) on Disposal - 10,551,810 10,551,810 475,000 16,193,866 16,668,866 - 31,764,966 31,764,966
6 Provision for doubtful debt (17,000) (33,184,498) (33,201,498) (106,000) (949,900) (1,055,900) - 1,890,501 1,890,501
7 Investment Expense (8,000) (17,333) (25,333) 23,000 (101,470) (78,470) - (109,194) (109,194)
NET INVESTMENT INCOME 3,176,000 67,697,396 70,873,396 6,092,000 117,127,374 123,219,374 9,594,600 158,283,534 167,878,134
IDX DESCRIPTION MTB TN TOTAL

-
1 Office Equipment 147,800 1,400,010 1,547,810
2 Office Furniture / Fitting 102,500 1,053,890 1,156,390
3 Other Equipment - - -
4 Computer Equipment 824,000 16,290,490 17,114,490
5 Electrical & Security Equipment - - -
6 Motor Vehicle - 700,000 700,000
7 Office Renovation 350,000 7,779,080 8,129,080
9 Other Small Assets - - -
- - -
TOTAL CAPITAL EXPENDITURE 1,424,300 27,223,470 28,647,770

10/14/2008
Mayban Takaful
Profit and loss
(in RM)
GENERAL FUND FY '03/04 FY 04/05 FY '03/04 FY '05/06 Actual FY '06/07 FY '05/06 FY '07/08 FY '06/07 FY '08/09 FY '07/08
Gross Contribution General fund 6,284,870 17,266,072 175% 48,180,000.00 179% 95,465,000.00 98% 109,784,750.00 15% 126,252,462.50 15%
Increase in unexpired risk reserve 3,706,995 4,063,970 10% 9,806,000.00 141% 17,533,000.00 79% 20,162,950.00 15% 23,187,392.50 15%
Gross Earned Contribution 2,577,875 13,202,102 412% 38,374,000.00 191% 77,932,000.00 103% 89,621,800.00 15% 103,065,070.00 15%
Net Retakaful 567,975 1,020,474 80% 6,436,000.00 531% 12,188,000.00 89% 14,016,200.00 15% 16,118,630.00 15%
Net Contribution 2,009,900 12,181,628 506% 31,938,000.00 162% 65,744,000.00 106% 75,605,600.00 15% 86,946,440.00 15%
Wakalah fee 1,254,229 3,844,748 207% 9,636,000.00 151% 19,094,000.00 98% 21,958,100.00 15% 25,251,815.00 15%
Net Commission 549,706 1,865,271 239% 4,818,000.00 158% 9,547,000.00 98% 10,979,050.00 15% 12,625,907.50 15%
Management expenses 2,090,816 5,926,065 183% 8,291,000.00 40% 15,000,000.00 81% 17,025,000.00 14% 19,323,375.00 14%
Result from Wakalah fee General (1,386,293) (3,946,588) 185% (3,473,000.00) -12% (5,453,000.00) 57% (6,045,950.00) 11% (6,697,467.50) 11%
Net Claims Paid (incl. IBNR) 3,021,410 6,726,127 123% 19,204,000.00 186% 40,322,000.00 110% 46,370,300.00 15% 53,325,845.00 15%
Investment Income 81,389 397,952 389% 877,000.00 120% 900,000.00 3% 1,350,000.00 50% 2,025,000.00 50%
Other Gains & losses (6,320) (40,809) 545.7% - na - #DIV/0! - #DIV/0! - #DIV/0!
Revenue Surplus before Taxes & profit Sharing (2,190,670) 1,967,896 -190% 3,975,000.00 102% 7,228,000.00 82% 8,627,200.00 19% 10,393,780.00 20%
Pro Forma Taxes - - #N/A - na 2,024,000.00 #DIV/0! 2,415,616.00 19% 2,910,258.40 20%
Revenue Surplus after taxes (2,190,670) 1,967,896 -190% 3,975,000.00 102% 5,204,000.00 31% 6,211,584.00 19% 7,483,521.60 20%
Profit Transfer to SHF (Pro Forma) - - #N/A 3,741,755.00 na 4,163,200.00 11% 4,969,267.20 19% 5,986,817.28 20%
Profit Transfer to PARTICIPANTS (Pro Forma) - - #N/A - na 1,040,800.00 #DIV/0! 1,242,316.80 19% 1,496,704.32 20%

FY '03/04 FY 04/05 FY '05/06 FY '06/07 FY '07/08 FY '08/09
QH Settlement (2,191,000.00) 1,967,896.00 233,245.00 - - -
QH Outstanding 2,201,141.00 233,245.00 - - - -

Gross Contribution Family fund 35,632,696 85,998,278 141% 126,050,000.00 47% 144,735,000.00 15% 173,682,000.00 20% 208,418,400.00 20%
Net Retakaful 255,615 394,651 54% 311,000.00 -21% 557,000.00 79% 668,400.00 20% 802,080.00 20%
Net Contribution 35,377,081 85,603,627 142% 125,739,000.00 47% 144,178,000.00 15% 173,013,600.00 20% 207,616,320.00 20%
Wakalah fee 7,126,539 5,716,683 -20% 7,859,000.00 37% 12,999,000.00 65% 15,598,800.00 20% 18,718,560.00 20%
Net Commission 2,925,088 3,353,687 15% 5,286,000.00 58% 7,982,000.00 51% 9,179,300.00 15% 10,556,195.00 15%
Management expenses 5,120,865 6,595,058 29% 8,982,870.00 36% 9,554,000.00 6% 10,987,100.00 15% 12,635,165.00 15%
Result from Wakalah fee Family (919,414) (4,232,062) 360% (6,409,870.00) 51% (4,537,000.00) -29% (4,567,600.00) 1% (4,472,800.00) -2%
10/14/2008
Benefit Payments 551,876 2,050,404 272% 4,735,000.00 131% 8,237,000.00 74% 10,296,250.00 25% 12,870,312.50 25%
Investment Income 1,320,707 2,705,149 105% 7,820,000.00 189% 13,058,000.00 67% 19,587,000.00 50% 29,380,500.00 50%
Other Gains & losses 48,207 217,709 351.6% - #N/A - #DIV/0! - #DIV/0! - #DIV/0!
Revenue Surplus before Taxes & priofit Sharing 29,067,580 80,759,398 178% 120,965,000.00 50% 136,000,000.00 12% 166,705,550.00 23% 205,407,947.50 23%
Pro Forma Taxes 56,397 - -100% 625,000.00 #DIV/0! 1,045,000.00 67% 1,566,960.00 50% 2,350,440.00 50%
Revenue Surplus after taxes 29,011,183 80,759,398 178% 120,340,000.00 49% 134,955,000.00 12% 165,138,590.00 22% 203,057,507.50 23%
Profit Transfer to SHF (Pro Forma) - - #DIV/0! 2,336,245.00 #DIV/0! 4,000,000.00 71% 4,894,626.80 22% 6,018,524.92 23%
Profit Transfer to Participants (Pro Forma) - - #DIV/0! 584,061.25 #DIV/0! 1,000,000.00 71% 1,223,656.70 22% 1,504,631.23 23%

FY '03/04 FY 04/05 FY '05/06 FY '06/07 FY '07/08 FY '08/09
AUM BOY 14,961,000 45,065,183 127,483,581 240,218,275 370,173,274.75 529,193,581.25
AUM EOY 45,065,183 127,483,581 240,218,275 370,173,275 529,193,581 724,727,933
QH Settlement (1,093,000.00) (1,659,000.00) 4,685,000.00 - - -
QH Outstanding 3,026,000.00 4,685,000.00 - - - -
Excess/(deficit) from Wakalah fee (2,305,707) (8,178,650) 255% (9,882,870.00) 21% (9,990,000.00) 1% (10,613,550.00) 6% (11,170,267.50) 5%
Pro Forma Surplus transfer from Family - - #N/A 2,336,245.00 #DIV/0! 4,000,000.00 71% 4,894,626.80 22% 6,018,524.92 23%
Pro Forma Surplus transfer from General - - #N/A 3,741,755.00 #N/A 4,163,200.00 11% 4,969,267.20 19% 5,986,817.28 20%
Investment Income 1,779,979 3,387,221 90% 5,387,000.00 59% 5,926,000.00 10% 6,222,300.00 5% 6,533,415.00 5%
Other Gains/Expenses - - #DIV/0! - na - #DIV/0! - #DIV/0! - #DIV/0!
PRO FORMA PROFIT (LOSS) BEFORE TAX (525,728) (4,791,429) 811% 1,582,130.00 -133% 4,099,200.00 159% 5,472,644.00 34% 7,368,489.70 35%
Pro Forma Taxation (- = claw-back) 139,481 (27,212) -120% 616,000.00 -2364% 1,147,776.00 86% 1,532,340.32 34% 2,063,177.11 35%
Zakat - - #DIV/0! 24,000.00 na 62,182.50 159% 83,016.85 34% 111,775.74 35%
PRO FORMA PROFIT (LOSS) AFTER TAX (665,209) (4,764,217) 616% 942,130.00 -120% 2,889,241.50 207% 3,857,286.83 34% 5,193,536.84 35%
for information: Local reported Profit in local accounting
pack without pro forma transfers (665,209) (4,764,217) 616% 942,130.00 -120% 2,889,241.50 207% 3,857,286.83 34% 5,193,536.84 35%
Pro Forma Profit (loss) after tax (Fortis consol. Ex asset

corrections) (665,209) (4,764,217) 616% 942,130 -120% 2,889,241 207% 3,857,287 34% 5,193,537 35%
MAYBAN TAKAFUL - SUPPORTING SCHEDULE
ACTUAL FY 03/04
GENERAL TAKAFUL FUND Fire Motor Misc TOTAL

Gross Contribution
New 807,012 5,276,591 201,266 6,284,869
Renewal -
Gross Contribution General fund 807,012 5,276,591 201,266 6,284,869
Increase in unexpired risk reserve 411,817 3,204,253 90,925 3,706,995
Gross Earned Contribution 395,195 2,072,338 110,341 2,577,874
Net Retakaful 223,924 340,508 3,543 567,975
Net Contribution 171,271 1,731,830 106,798 2,009,899
-
Net Commission 74,444 471,123 2,367 547,934
Actual Commission 70,585 461,517 17,604 549,706
Management expenses 90,465 591,497 22,562 704,524
Actual ME 268,472 1,755,388 66,956 2,090,816
Net Claims Paid (incl. IBNR) 98,226 2,742,800 180,384 3,021,410
-
Underwriting Surplus/(Deficit) (91,864) (2,073,590) (98,515) (2,263,969)
KEY RATIO's GENERAL
Reinsurance % of Gross earned Premium 56.66% 16.43% 3.21% 22.03%

Net Claims Ratio (over NPE) 57.35% 158.38% 168.90% 150.33%
Net Commission Expenses (over NPE) 41.21% 26.65% 16.48% 27.35%
Net Management Expense ratio (over NPE) 156.75% 101.36% 62.69% 104.03%
Net Expense ratio (over NPE) 197.97% 128.01% 79.18% 131.38%
Net Combined ratio (over NPE) before Profit sharing 255.32% 286.39% 248.08% 281.70%
FAMILY TAKAFUL FUND Mortgage Group Individual Savings & Investment Annuity TOTAL
Gross Contribution Family fund 35,632,696 - - - - 35,632,696
Net Retakaful 255,615 255,615
Net Contribution 35,377,081 - - - - 35,377,081
Wakalah fee 7,126,539 7,126,539
Net Commission 2,925,088 2,925,088
Management expenses 5,120,865 5,120,865
Result from Wakalah fee Family (919,414) - - - - (919,414)
MAYBAN TAKAFUL - SUPPORTING SCHEDULE 77

Benefit Payments 551,876 551,876

ACTUAL FY 04/05

Gross Contribution
New 2,462,777 12,002,205 2,801,091 17,266,073
Renewal - - - -
Gross Contribution General fund 2,462,777 12,002,205 2,801,091 17,266,073
Increase in unexpired risk reserve 1,158,100 2,865,090 40,781 4,063,971
Gross Earned Contribution 1,304,677 9,137,115 2,760,310 13,202,102
Net Retakaful 233,150 456,248 331,076 1,020,474
Net Contribution 1,071,527 8,680,867 2,429,234 12,181,628
-
Net Commission 245,000 1,200,200 280,109 1,725,309
Actual Commission 240,124 1,094,011 521,021 1,855,156
Management expenses 245,000 1,200,200 280,109 1,725,309
Actual ME 521,272 4,223,030 1,181,763 5,926,065
Net Claims Paid (incl. IBNR) 279,482 6,846,436 694,925 7,820,844
-
Underwriting Surplus/(Deficit) 302,045 (565,969) 1,174,091 910,166
KEY RATIO's GENERAL

Gross Contribution Family fund 15,703,030 - 5,254,081 65,041,168 - 85,998,279
Net Retakaful 157,030 - 52,541 325,206 534,777
Net Contribution 15,546,000 - 5,201,540 64,715,962 - 85,463,502
Wakalah fee 3,140,606 - 945,735 11,707,410 15,793,751
Net Commission 1,570,303 - 525,408 650,412 2,746,123
Management expenses 6,396,384 - 2,140,168 260,165 8,796,717
Result from Wakalah fee Family (4,826,081) - (1,719,841) 10,796,834 - 4,250,911
Benefit Payments 1,463,513 - 210,163 130,082 1,803,759

BUDGET FY 05/06

Gross Contribution
New 7,640,000 32,000,000 8,540,000 48,180,000
Renewal - - - -
Gross Contribution General fund 7,640,000 32,000,000 8,540,000 48,180,000
Increase in unexpired risk reserve 1,867,873 6,840,000 1,097,600 9,805,473
Gross Earned Contribution 5,772,128 25,160,000 7,442,400 38,374,528
Net Retakaful 1,528,000 3,200,000 1,708,000 6,436,000
Net Contribution 4,244,128 21,960,000 5,734,400 31,938,528
-
Net Commission 764,000 3,200,000 854,000 4,818,000
Actual Commission 764,000 3,200,000 854,000 4,818,000
Management expenses 764,000 3,200,000 854,000 4,818,000
Actual ME 1,314,721 5,506,683 1,469,596 8,291,000
Net Claims Paid (incl. IBNR) 1,909,857 14,713,200 2,580,480 19,203,537
-
Underwriting Surplus/(Deficit) 806,270 846,800 1,445,920 3,098,990
KEY RATIO's GENERAL

Gross Contribution Family fund 10,000,000 - 16,050,000 100,000,000 - 126,050,000
Net Retakaful 200,000 - 160,500 1,000,000 1,360,500
Net Contribution 9,800,000 - 15,889,500 99,000,000 - 124,689,500
Wakalah fee 1,800,000 - 6,580,500 3,309,875 11,690,375
Net Commission 800,000 - 4,990,089 2,204,875 7,994,964
Management expenses 687,666 - 1,103,704 6,876,658 8,668,028
Result from Wakalah fee Family 312,334 - 486,707 (5,771,658) - (4,972,617)
Benefit Payments 2,000,000 - 3,210,000 4,000,000 9,210,000


Salaries 1,046,278 1,505,242 2,097,475
Overtime 9,351 23,639 13,200
Social Allowance 0 0 0
Shift Allowance 0 0 0
Actuarial Allowance 0 0 0
Secretary Allowance 1,800 1,800 0
Bonus 279,176 707,093 699,158
EPF 204,158 304,253 366,000
SOCSO 7,690 12,717 16,780
Leave Passage 0 0 0
Gratuity 0 0 0
Sub Total 1,560,552 2,575,144 3,215,413
2 Other Staff Costs

Housing Allowance - - -
Insurance 57,229 82,332 120,000
Staff Medical Fees 14,348 26,649 25,000
Uniform 728 1,584 1,000
Refreshments 5,319 6,449 26,000
Staff Meals 5,863 6,301 8,455
Staff Function, Awards & Gifts - - -
Club Membership & Dues 975 870 3,000
Staff Welfare 902 2,290 2,300
Staff Car Parking Fees - - -
Annual Leave Not Utilised - 5,887 -
Flexi Points Not Utilised 16,966 (367) -
Flexi Points Utilised 11,516 18,138 23,000
Company Car Expenses 13,158 16,926 13,685
Sub Total 133,757 189,992 272,440

Education Assistance & Awards 268 260 22,000
Training, Seminars & Conferences 51,970 172,454 266,000
Professional Memberships 1,495 1,176 33,000
Agency Related Training Expense 65,970 219,799 150,000
Sub Total 119,703 393,689 471,000

Directors' Fees 31,535 31,000 38,000
Directors' Expenses - Others - - -
SSC Fees 24,000 18,000 36,000
SSC Allowances 2,000 10,200 10,000
SSC Expenses - Others 1,275 2,274 5,000
Sub Total 76,310 78,474 113,000

Quit Rent & Assess-Self Occup - - -
Warehouse Rental - - -
Office Rental 140,968 201,940 360,000
Repair & Maintenance Assets 4,050 8,214 15,000
Removal Charges - 28 -
Office Cleaning 880 1,569 18,000
Property Insurance - - -
Security Services 360 - -
Expensed Assets / Small Assets 9,090 19,442 25,000
Paintings - - -
Hire of Non IT Equipment 13,423 17,402 44,400
Water - - 10,000
Electricity 8,005 10,967 21,600
Sub Total 176,776 259,562 494,000
6 IT Costs
Computer Exp-Consumables - 276 -
Software Development - 29,393 50,000
Software Expenses 50,217 - 90,000
Repair & Maintenance-Computer 37,317 93,265 253,987
Data Protection & Recovery 4,122 - -
Data Line - - 10,000
Internet Costs 5,100 100 1,000
Hire of IT Equipment 67,995 - -
IT Fondation Cost - - -
IT Outsourcing - CSC 104,418 162,541 547,741
Sub Total 269,169 285,575 952,728
Telephone & Facsimile 33,294 34,844 30,000
Sub Total 36,833 41,779 33,000

Travelling 21,022 18,158 31,000
Entertainment 9,090 9,615 21,000
Entertainment - Staff 2,622
Sub Total 30,112 30,395 52,000

Advertising - - -
Promotion 101,016 900,374 2,773,750
Promotion - Extra Units - 184,168 -
Promotion - 17,875 -
Market Research - - -
Direct Mail Costs 93,226 3,113 -
Sub Total 196,025 1,107,304 2,779,750
Ext Audit Fees 20,000 36,000 38,000
SIRIM Audit Fees - - -
Tax Consultancy Fees 12,500 25,350 25,000
Actuarial Consultancy Fees 102,175 77,000 138,000
Legal Fees 1,500 - 10,000
Other Consultancy Fees 677 12,265 22,000
Portfolio Management Fees - - -
Sub Total 136,852 150,615 233,000

Contract Staff Services 17,565 21,626 18,000
Internal Audit Expenses - - -
AEA Back-Up Services - - -
Bulkmailing Services 903 - -
Outside Service - - -
Outsourcing Exp - Family 1,015,010 808,033 1,700,000
Outsourcing Exp - General 292,214 564,899 800,000
Shared Services Chargeback 2,465,662 3,752,754 4,187,332
Shared- MLA Investment - 24,248 54,000
Maybank Service Cost 71,365 147,687 165,507
Shared Services - Staff Welfare Fund - - 1,800
Sub Total 3,862,718 5,319,247 6,926,639

Pol-Tolerance Limit (275) - -
Pol-Waived Amount - - -
Pol-Claims Investigation Fee - 10,820 22,000
Pol-Printing Costs 124,502 580,092 581,000
Pol-Postage & Courier 37,262 227,333 177,000
Pol-Stamp Duties 120,102 382,860 268,000
Pol-Autodebit Charges 27,117 410,600 192,000
Pol-Assured Medical Fees 21,076 117,332 80,000
Sub Total 329,784 1,729,037 1,320,000

Licence Fees 5,388 5,000 10,000
Levies & Contributions 48,087 38,872 45,000
Trade Subscriptions - 36,475 11,000
Registration Fees 1,160 - 2,000
Sub Total 54,634 80,347 68,000
15 All Others
Office Printing & Stationary 50,754 85,244 79,000
Misc. Stamp Duties 2,405 40 1,000
Bank Charges 5,748 5,195 2,000
Sundry Expenses 7,033 4,650 5,000
Books,N'papers & Publications 3,171 3,248 3,000
Donations 500 - 5,000
Fines And Penalties - - -
Meetings And Conventions - - -
Corporate Functions - - -
Corporate Service Fees 170 695 1,000
Insurance - Others 194 3,006 10,000
Graduate Training Scheme - 4,493 5,000
Sub Total 69,975 106,571 111,000
16 Depreciation
Depreciation-Office Equipments 5,740 9,814 15,000
Depreciation-F & F 7,941 11,795 16,900
Depreciation-Comp HW 22,872 23,353 23,000
Depreciation-Comp.Software 88,601 95,050 113,000
Depreciation-Motor Vehicles 20,400 20,400 20,000
Depreciation-Office Renovation 12,926 12,925 44,000
Sub Total 158,480 173,337 231,900

3 INVESTMENT INCOME
ACTUAL FY 03/04
IDX DESCRIPTION SHF GENERAL FAMILY TOTAL

1 Profits 1,259,000 43,000 731,000 2,033,000
2 Dividends from Shares -
3 Net Accretion/(Amortisation) 530,000 40,000 598,000 1,168,000
6 Provision for doubtful debt (17,000) (17,000)
7 Investment Expense (9,000) 7,000 (6,000) (8,000)
NET INVESTMENT INCOME 1,780,000 73,000 1,323,000 3,176,000
ACTUAL FY 04/05

1 Profits 2,806,000 130,000 819,000 3,755,000
2 Dividends from Shares 82,000 82,000
3 Net Accretion/(Amortisation) 524,000 271,000 1,257,000 2,052,000
4 Provision for diminution (189,000) (189,000)
5 Gain/(Loss) on Disposal 181,000 294,000 475,000
6 Provision for doubtful debt (106,000) (106,000)
7 Investment Expense (17,000) 52,000 (12,000) 23,000

BUDGET FY 05/06

1 Profits 5,153,750 877,360 3,330,740 9,361,850
2 Dividends from Shares 232,750 232,750
3 Net Accretion/(Amortisation) -

2 Office Furniture / Fitting 102,500
3 Other Equipment
4 Computer Equipment 824,000
6 Motor Vehicle
7 Office Renovation 350,000

10/14/2008
Takaful Nasional
Profit and loss
(in RM)
FY '03/04 FY 04/05 FY '03/04 FY '05/06 Actual FY '06/07 FY '05/06 FY '07/08 FY '06/07 FY '08/09 FY '07/08
Gross Contribution General fund 182,629,274 189,969,000 4% 228,588,000 20% 265,356,974 16% 302,506,950 14% 338,807,784 12%
Increase in unexpired risk reserve 24,004,790 15,924,000 -34% 19,785,000 24% 20,023,235 1% 18,904,402 -6% 18,904,402 0%
Gross Earned Contribution 158,624,484 174,045,000 10% 208,803,000 20% 245,333,739 17% 283,602,548 16% 319,903,382 13%
Net Retakaful 70,419,694 69,101,000 -2% 87,917,000 27% 75,188,065 -14% 84,962,513 13% 95,158,015 12%
Net Commission 9,455,955 10,160,000 7% 12,092,000 19% 28,175,805 133% 32,120,417 14% 35,974,867 12%
Management expenses 20,495,439 26,940,000 31% 32,452,000 20% 37,149,990 14% 41,830,888 13% 46,348,624 11%
Net Claims Paid (incl. IBNR) 44,799,340 50,179,000 12% 68,699,000 37% 97,919,336 43% 110,648,849 13% 123,926,711 12%
Investment Income & various 7,342,867 11,162,000 52% 15,200,000 36% 16,533,026 9% 17,982,897 9% 17,982,897 0%
Other Gains & losses - - #DIV/0! - na - #DIV/0! - #DIV/0! - #DIV/0!
Revenue Surplus before Taxes & profit Sharing 20,796,923 28,827,000 39% 22,843,000 -21% 23,433,570 3% 32,022,777 37% 36,478,061 14%
Surplus attributable to the company 10,398,550 14,413,000 39% 11,421,000 -21% 11,716,785 3% 16,011,388 37% 18,239,031 14%
Taxation 4,858,740 8,494,000 75% 3,198,000 -62% 7,492,585 134% 8,966,377 20% 10,213,857 14%
Profit Transfer to SHF (Pro Forma) 10,398,550 14,413,000 39% 11,421,000 -21% 11,716,785 3% 16,011,388 37% 18,239,031 14%
Profit Transfer to PARTICIPANTS (Pro Forma) 5,539,810 5,919,000 7% 8,223,000 39% 4,224,200 -49% 7,045,011 67% 8,025,173 14%

FY '03/04 FY 04/05 FY '05/06 FY '06/07 FY '07/08 FY '08/09
Net Combined ratio (over NPE) before Profit sharing 84.75% 83.17% 93.68% 95.94% 92.93% 91.77%
Net Combined ratio (over NPE) after Profit sharing 92.37% 91.58% 96.84% 97.97% 96.47% 95.89%
10/14/2008

Gross Contribution Family fund 390,431,000 400,812,000 3% 436,927,000 9% 535,003,524 22% 636,654,194 19% 744,885,406 17%
Net Retakaful 4,368,000 4,526,000 4% 5,085,000 12% 4,350,035 -14% 5,176,542 19% 6,160,085 19%
Net Commission 57,846,000 57,241,000 -1% 70,003,000 22% 103,063,638 47% 122,645,729 19% 143,495,503 17%
Net Management expenses 73,285,000 43,892,000 -40% 50,049,000 14% 52,646,631 5% 57,384,828 9% 61,975,614 8%
Benefit Payments 86,864,000 142,124,000 64% 136,740,000 -4% 139,279,434 2% 167,135,321 20% 198,891,032 19%
Investment Income & various 86,393,000 105,512,000 22% 138,851,000 32% 139,287,464 0% 144,656,432 4% 161,235,890 11%
Other Gains & losses #N/A #DIV/0! #DIV/0! #DIV/0!
Revenue Surplus before Taxes & profit Sharing 254,461,000 258,541,000 2% 313,901,000 21% 374,951,250 19% 428,968,206 14% 495,599,063 16%
Taxes 12,242,000 9,058,000 -26% 10,030,000 11% 11,509,455 15% 13,370,826 16% 15,911,283 19%
Revenue Surplus after taxes 242,219,000 249,483,000 3% 303,871,000 22% 363,441,795 20% 415,597,380 14% 479,687,780 15%
Profit Transfer to Participants (Pro Forma) 4,258,000 6,118,000 44% 6,707,754 10% 9,072,168 35% 10,374,066 14% 11,973,879 15%

FY '03/04 FY 04/05 FY '05/06 FY '06/07 FY '07/08 FY '08/09
AUM BOY 1,843,208,166 2,067,744,166 2,282,415,166 2,548,118,412 2,859,938,713 3,216,506,674
AUM EOY 2,067,744,166 2,282,415,166 2,548,118,412 2,859,938,713 3,216,506,674 3,628,061,949
Growth AUM 12% 10% 12% 12% 12% 13%
Pro Forma Surplus transfer from Family 13,425,000 28,694,000 114% 31,460,000 10% 42,549,327 35% 48,655,353 14% 56,158,627 15%
Pro Forma Surplus transfer from General 10,398,550 14,413,000 39% 11,421,000 -21% 11,716,785 3% 16,011,388 37% 18,239,031 14%
Investment Income & Various 7,036,431 2,090,000 -70% 3,958,000 89% 3,697,917 -7% 3,924,130 6% 3,924,130 0%
Management expenses 7,373,786 7,061,000 -4% 6,022,000 -15% 5,941,892 -1% 5,941,892 0% 5,941,892 0%
Administrative Fees life 20,671,024 13,418,000 -35% 13,964,000 4% 13,560,000 -3% 13,560,000 0% 13,560,000 0%
PROFIT (LOSS) BEFORE TAX 44,157,219 51,554,000 17% 54,781,000 6% 65,582,137 20% 76,208,979 16% 85,939,896 13%
(- = claw-back) 21,764,845 14,093,000 -35% 15,339,000 9% 20,492,405 34% 24,153,111 18% 24,153,111 0%
Zakat 1,476,000 1,825,000 24% 1,638,000 -10% 1,800,000 10% 1,800,000 0% 1,800,000 0%
PROFIT (LOSS) AFTER TAX 20,916,374 35,636,000 70% 37,804,000 6% 43,289,732.05 15% 50,255,868.80 16% 59,986,785.09 19%
for information: Local reported Profit in local accounting
pack without pro forma transfers 20,916,374 35,636,000 70% 37,804,000 6% 43,289,732.05 15% 50,255,868.80 16% 59,986,785.09 19%
Pro Forma Profit (loss) after tax (Fortis consol. Ex asset

corrections) 20,916,374 35,636,000 70% 37,804,000 6% 43,289,732 15% 50,255,869 16% 59,986,785 19%
TAKAFUL NASIONAL - SUPPORTING SCHEDULE
ACTUAL FY 03/04
GENERAL TAKAFUL FUND Fire Motor Misc Eng Marine Aviation Bond TOTAL
Gross Contribution
New 31,260,479 40,150,012 10,438,934 6,161,491 2,836,374 13,000,000 304,184 104,151,474
Renewal 27,838,874 24,420,947 4,942,984 1,748,651 38,301 18,898,903 - 77,888,660
Gross Contribution General fund 59,099,354 64,570,959 15,381,918 7,910,142 2,874,675 31,898,903 304,184 182,040,135
Increase in unexpired risk reserve 21,408,877 1,220,633 (77,825) 524,816 (33,011) 1,003,177 (41,875) 24,004,792
Gross Earned Contribution 37,690,476 63,350,327 15,459,742 7,385,326 2,907,686 30,895,726 346,058 158,035,343
Net Retakaful 24,021,308 3,559,667 3,335,886 5,789,135 2,354,837 30,579,664 190,058 69,830,554
Net Contribution 13,669,168 59,790,659 12,123,857 1,596,192 552,849 316,063 156,001 88,204,788
Net Commission 1,815,282 5,962,555 2,316,289 (185,380) (156,492) (286,495) (9,804) 9,455,955
Management expenses 4,321,980 8,003,958 1,915,984 985,570 358,188 3,974,644 37,902 19,598,225
Net Claims Paid (incl. IBNR) 3,812,526 34,615,808 6,194,210 833,662 (668,969) 12,102 - 44,799,340
Underwriting Surplus/(Deficit) 3,719,380 11,208,338 1,697,374 (37,661) 1,020,122 (3,384,188) 127,903 14,351,269
KEY RATIO's GENERAL
Reinsurance % of Gross earned Premium 63.73% 5.62% 21.58% 78.39% 80.99% 98.98% 54.92% 44.19%
Net Claims Ratio (over NPE) 27.89% 57.90% 51.09% 52.23% -121.00% 3.83% 0.00% 50.79%
Net Commission Expenses (over NPE) 13.28% 9.97% 19.11% -11.61% -28.31% -90.64% -6.28% 10.72%
Net Management Expense ratio (over NPE) 31.62% 13.39% 15.80% 61.75% 64.79% 1257.55% 24.30% 22.22%
Net Expense ratio (over NPE) 44.90% 23.36% 34.91% 50.13% 36.48% 1166.90% 18.01% 32.94%
Net Combined ratio (over NPE) before Profit sharing 72.79% 81.25% 86.00% 102.36% -84.52% 1170.73% 18.01% 83.73%
TAKAFUL NASIONAL - SUPPORTING SCHEDULE 88

FAMILY TAKAFUL FUND Group Private MRTA FT MRTA Individual Annuity TOTAL
Gross Contribution
New 36,073,270 28,117,378 176,029,673 116,862,208 (20,973) 357,061,556
Renewal 13,363,250 - - 15,703,976 - 29,067,225
Gross Contribution Family fund 49,436,520 28,117,378 176,029,673 132,566,184 (20,973) 386,128,782
Net Retakaful 525,711 1,240,576 1,722,719 195,336 683,235 4,367,578
Net Contribution 48,910,808 26,876,802 174,306,953 132,370,848 (704,207) 381,761,204
Net Commission 4,965,214 1,176,175 14,428,652 36,814,266 - 57,384,307
Net Management expenses 7,667,501 6,152,710 - 29,008,443 - 42,828,654
Benefit payments
Death 14,904,131 3,443,250 22,969,671 4,507,743 6,130,591 37,051,256
Maturities - 2,165 - 22,424 769,200 793,789
Surrenders 7,114,923 3,379,144 3,200,751 2,166,999 13,418,022 29,279,839
Bonus Cashing 62,250 - - - - 62,250
Accident & Hospital 3,916,247 67,262 - 788,919 - 4,772,427
Others -
Total Benefit Payments 25,997,551 6,891,822 26,170,422 7,486,084 20,317,813 86,863,692
KEY RATIO's FAMILY
Reinsurance % of Gross earned Premium 1.06% 4.41% 0.98% 0.15% -3257.75% 1.13%
Benefits (over NPE) 53.15% 25.64% 15.01% 5.66% -2885.20% 22.75%

ACTUAL FY 04/05
Gross Contribution
New 57,191,960 73,496,430 17,096,380 9,328,230 3,888,350 28,431,510 153,360 189,586,220
Renewal 100 - - - - - - 100
Increase in unexpired risk reserve 13,592,120 2,280,020 (497,380) (30,670) (74,130) 657,660 (4,070) 15,923,550
Net Retakaful 22,264,320 4,563,210 5,533,600 6,708,980 3,329,900 26,180,080 138,020 68,718,110
Net Contribution 21,335,620 66,653,200 12,060,160 2,649,920 632,580 1,593,770 19,410 104,944,660
Net Commission 1,476,240 7,307,380 2,267,780 (403,970) (212,440) (260,600) (13,980) 10,160,410
Management expenses 5,477,032 17,110,432 3,095,944 680,257 162,389 409,134 4,983 26,942,278
Net Claims Paid (incl. IBNR) 4,790,868 35,944,580 8,490,021 1,076,251 (127,910) 5,300 - 50,179,110
Underwriting Surplus/(Deficit) Before ME 9,591,481 6,290,808 (1,793,585) 1,297,382 810,541 1,439,936 28,407 17,664,971
KEY RATIO's GENERAL
Net Claims Ratio (over NPE) 22.45% 53.93% 70.40% 40.61% -20.22% 0.33% 0.00% 47.81%
Net Commission Expenses (over NPE) 6.92% 10.96% 18.80% -15.24% -33.58% -16.35% -72.02% 9.68%
Net Expense ratio (over NPE) 32.59% 36.63% 44.47% 10.43% -7.91% 9.32% -46.35% 35.35%
Net Combined ratio (over NPE) before Profit sharing 55.04% 90.56% 114.87% 51.04% -28.13% 9.65% -46.35% 83.17%
Gross Contribution
New 54,839,233 29,553,344 144,592,626 170,689,146 - 399,674,348
Renewal 1,137,791 - - - - 1,137,791
Gross Contribution Family fund 55,977,024 29,553,344 144,592,626 170,689,146 - 400,812,140
Net Retakaful 513,059 1,315,347 2,757,809 (296,220) 235,855 4,525,850
Net Commission 4,533,868 1,113,916 - 51,592,984 - 57,240,767
Net Management expenses 6,224,065 37,578,569 43,802,634
Benefit payments
Death 22,269,930 10,715,230 20,736,147 9,512,939 3,095,135 66,329,380
Maturities 2,167 - - 141,887 125,561 269,616
Surrenders 6,490,110 3,605,052 5,282,299 6,349,724 42,635,842 64,363,026
Bonus Cashing 23,250 - - 29,750 - 53,000
Accident & Hospital 9,477,261 (135) - 1,588,793 - 11,065,919
Others - 17,177 - 25,010 - 42,186
KEY RATIO's FAMILY
Reinsurance % of Gross earned Premium 0.92% 4.45% 1.91% -0.17% #DIV/0! 1.13%

BUDGET FY 05/06
Gross Contribution
New 55,359,862 98,511,860 20,737,469 9,647,191 6,177,062 38,088,270 66,400 228,588,113
Renewal - - - - - - - -
Increase in unexpired risk reserve 14,357,750 8,427,753 578,816 (684,520) (408,766) (2,474,416) (11,387) 19,785,229
Net Retakaful 23,782,862 5,743,464 6,897,141 7,254,750 5,142,385 39,043,160 53,240 87,917,003
Net Contribution 17,219,251 84,340,643 13,261,512 3,076,960 1,443,442 1,519,526 24,547 120,885,881
Net Commission (597,739) 9,055,672 3,923,284 (117,783) (24,703) (108,530) (38,130) 12,092,073
Management expenses 7,859,253 13,985,397 2,944,029 1,369,579 876,937 5,407,263 9,427 32,451,884
Net Claims Paid (incl. IBNR) 3,999,313 50,135,661 12,000,741 2,449,376 109,090 4,621 660 68,699,462
Underwriting Surplus/(Deficit) Before ME 5,958,423 11,163,912 (5,606,542) (624,212) 482,118 (3,783,828) 52,591 7,642,462
KEY RATIO's GENERAL
Net Claims Ratio (over NPE) 23.23% 59.44% 90.49% 79.60% 7.56% 0.30% 2.69% 56.83%
Net Commission Expenses (over NPE) -3.47% 10.74% 29.58% -3.83% -1.71% -7.14% -155.33% 10.00%
Net Expense ratio (over NPE) 42.17% 27.32% 51.78% 40.68% 59.04% 348.71% -116.93% 36.85%
Net Combined ratio (over NPE) before Profit sharing 65.40% 86.76% 142.28% 120.29% 66.60% 349.01% -114.24% 93.68%
Gross Contribution
New 67,658,789 45,748,851 130,427,687 71,997,428 - 315,832,755
Renewal 596,137 - - 120,497,964 - 121,094,101
Gross Contribution Family fund 68,254,926 45,748,851 130,427,687 192,495,391 - 436,926,856
Net Retakaful 1,169,274 1,147,606 1,455,882 1,209,290 102,764 5,084,816
Net Commission 5,661,972 3,759,141 (2,094) 60,664,323 (80,207) 70,003,135
Net Management expenses 7,050,204 - 42,998,081 - 50,048,285
Benefit payments
Death 27,353,039 7,513,790 21,667,021 5,589,092 1,501,661 36,271,563
Maturities 1,652 - - 216,748 1,200,000 1,418,399
Surrenders 7,257,576 4,174,419 4,554,931 7,356,986 39,196,189 62,540,101
Bonus Cashing 51,645 - - 28,851 - 80,496
Accident & Hospital 6,693,658 - - 2,318,911 - 9,012,569
Others - 19,457 - 43,673 - 63,129
KEY RATIO's FAMILY
Reinsurance % of Gross earned Premium 1.71% 2.51% 1.12% 0.63% #DIV/0! 1.16%

BUDGET FY 06/07
Gross Contribution
New 48,740,772 145,914,418 50,651,341 7,822,760 - 12,227,682 - 265,356,974
Renewal - - - - - - - -
Gross Contribution General fund 48,740,772 145,914,418 50,651,341 7,822,760 - 12,227,682 - 265,356,974
Increase in unexpired risk reserve 1,608,515 13,023,998 4,439,902 (163,976) - 1,116,433 - 20,024,872
Gross Earned Contribution 47,132,258 132,890,420 46,211,439 7,986,736 - 11,111,249 - 245,332,102
Net Retakaful 22,453,551 13,876,241 20,616,936 6,258,208 - 11,983,129 - 75,188,065
Net Contribution 24,678,707 119,014,179 25,594,503 1,728,528 - (871,880) - 170,144,038
Net Commission 3,943,083 13,203,818 10,601,142 547,593 - (119,831) - 28,175,805
Management expenses 6,211,244 18,594,495 6,454,716 996,888 - 1,558,226 - 33,815,567
Net Claims Paid (incl. IBNR) 6,425,815 75,261,761 15,451,366 757,623 - 22,771 - 97,919,336
Underwriting Surplus/(Deficit) Before ME 8,098,565 11,954,105 (6,912,720) (573,575) - (2,333,045) - 10,233,330
KEY RATIO's GENERAL
Reinsurance % of Gross earned Premium 47.64% 10.44% 44.61% 78.36% #DIV/0! 107.85% #DIV/0! 30.65%
Net Claims Ratio (over NPE) 26.04% 63.24% 60.37% 43.83% #DIV/0! -2.61% #DIV/0! 57.55%
Net Commission Expenses (over NPE) 15.98% 11.09% 41.42% 31.68% #DIV/0! 13.74% #DIV/0! 16.56%
Net Management Expense ratio (over NPE) 25.17% 15.62% 25.22% 57.67% #DIV/0! -178.72% #DIV/0! 19.87%
Net Expense ratio (over NPE) 41.15% 26.72% 66.64% 89.35% #DIV/0! -164.98% #DIV/0! 36.43%
Net Combined ratio (over NPE) before Profit sharing 67.18% 89.96% 127.01% 133.18% #DIV/0! -167.59% #DIV/0! 93.99%
FAMILY TAKAFUL FUND Group Private/FT MRTA Individual Annuity TOTAL

Gross Contribution
New 80,250,541 160,501,000 97,219,638 - 337,971,179
Renewal - - - 197,032,344 - 197,032,344
Gross Contribution Family fund 80,250,541 160,501,000 - 294,251,983 - 535,003,524
Net Retakaful 802,505 605,010 2,942,520 4,350,035
Net Contribution 79,448,035 159,895,990 - 291,309,463 - 530,653,488
Net Commission 8,025,054 6,050,100 88,988,484 103,063,639
Benefit payments
Death 23,834,411 29,072,905 7,282,737 2,278,714 38,634,356
Maturities 3,755 - 241,177 1,200,000 1,444,932
Surrenders 7,944,804 9,019,412 5,826,189 44,741,350 67,531,755
Bonus Cashing 38,986 - 45,158 - 84,144
Accident & Hospital 4,766,882 - 2,938,648 - 7,705,530
Others - - 44,306 - 44,306
Total Benefit Payments 36,588,838 38,092,317 - 16,378,215 48,220,064 139,279,435
KEY RATIO's FAMILY
Reinsurance % of Gross earned Premium 1.00% 0.38% #DIV/0! 1.00% #DIV/0! 0.81%
Benefits (over NPE) 46.05% 23.82% #DIV/0! 5.62% #DIV/0! 26.25%
Net Commission Expenses (over NPE) 10.10% 3.78% #DIV/0! 30.55% #DIV/0! 19.42%
Net Management Expense ratio (over NPE) 10.52% 0.00% #DIV/0! 17.45% #DIV/0! 11.15%

BUDGET FY 07/08
Gross Contribution
New 60,438,590 180,933,910 62,807,695 9,700,255 - 15,162,358 - 329,042,808
Renewal - - - - - - - -
Gross Contribution General fund 60,438,590 180,933,910 62,807,695 9,700,255 - 15,162,358 - 329,042,808
Increase in unexpired risk reserve 1,991,379 15,122,006 1,657,044 92,398 - 41,575 - 18,904,402
Gross Earned Contribution 58,447,211 165,811,904 61,150,651 9,607,856 - 15,120,783 - 310,138,406
Net Retakaful 27,132,678 15,907,372 25,479,478 7,760,204 - 14,859,111 - 91,138,842
Net Contribution 31,314,533 149,904,533 35,671,173 1,847,652 - 261,673 - 218,999,564
Net Commission 4,995,887 16,502,654 13,153,976 679,018 - (148,591) - 35,182,943
Management expenses 6,832,369 20,453,938 7,100,187 1,096,579 - 1,714,051 - 37,197,124
Net Claims Paid (incl. IBNR) 8,141,509 97,365,658 19,203,708 939,455 - 28,236 - 125,678,566
Underwriting Surplus/(Deficit) Before ME 11,344,769 15,582,283 (3,786,699) (867,400) - (1,332,023) - 20,940,930
KEY RATIO's GENERAL
Reinsurance % of Gross earned Premium 46.42% 9.59% 41.67% 80.77% #DIV/0! 98.27% #DIV/0! 29.39%
Net Claims Ratio (over NPE) 26.00% 64.95% 53.84% 50.85% #DIV/0! 10.79% #DIV/0! 57.39%
Net Commission Expenses (over NPE) 15.95% 11.01% 36.88% 36.75% #DIV/0! -56.79% #DIV/0! 16.07%
Net Management Expense ratio (over NPE) 21.82% 13.64% 19.90% 59.35% #DIV/0! 655.04% #DIV/0! 16.99%
Net Expense ratio (over NPE) 37.77% 24.65% 56.78% 96.10% #DIV/0! 598.25% #DIV/0! 33.05%
Net Combined ratio (over NPE) before Profit sharing 63.77% 89.61% 110.62% 146.95% #DIV/0! 609.04% #DIV/0! 90.44%
FAMILY TAKAFUL FUND Group Private/FT MRTA Individual Annuity TOTAL

Gross Contribution
New 89,024,600 184,897,246 135,753,968 - 409,675,814
Renewal - - - 275,128,801 - 275,128,801
Gross Contribution Family fund 89,024,600 184,897,246 - 410,882,769 - 684,804,615
Net Retakaful 890,246 948,972 4,108,828 5,948,046
Net Contribution 88,134,354 183,948,273 - 406,773,941 - 678,856,568
Net Commission 8,902,460 9,489,725 124,260,284 142,652,468
Benefit payments
Death 26,440,306 34,974,829 10,169,349 2,278,714 47,422,891
Maturities 4,166 - 336,770 1,200,000 1,540,936
Surrenders 8,813,435 11,320,821 8,135,479 44,741,350 73,011,086
Bonus Cashing 43,248 - 63,057 - 106,306
Accident & Hospital 5,288,061 - 4,103,422 - 9,391,483
Others - - 61,868 - 61,868
Total Benefit Payments 40,589,217 46,295,650 - 22,869,945 48,220,064 157,974,876
KEY RATIO's FAMILY
Reinsurance % of Gross earned Premium 1.00% 0.51% #DIV/0! 1.00% #DIV/0! 0.87%
Benefits (over NPE) 46.05% 25.17% #DIV/0! 5.62% #DIV/0! 23.27%
Net Commission Expenses (over NPE) 10.10% 5.16% #DIV/0! 30.55% #DIV/0! 21.01%
Net Management Expense ratio (over NPE) 10.91% 0.00% #DIV/0! 14.37% #DIV/0! 10.03%


Salary 19,278,383 20,079,042 22,638,767
Overtime 952,572 951,997 563,750
Bonus 5,494,897 6,313,831 6,622,646
Special Relief Allowance 0 210,257 136,811
East Malaysia Allowance 0 21,643 13,051
Accommodation Allowance 0 82,883 62,800
Motor Vehicle Allowance 0 586,353 651,050
Transfer Allowance 17,793 67,610 29,665
Customer Service Allowance 7,209 59,349
Shift Allowance 0 0
Dispatch Allowance 0 0
Internship Allowance 9,175 51,080
Special Allowance 4,140 10,720
Living Allowance 0 5
Company Secretary Allowance 4,500 18,000
EPF Contribution 3,409,601 4,569,172 5,007,330
Gratuity & Retirement Benefit 0 24,840 12,146
SOCSO Contribution 184,909 192,478 225,581
Sub Total 29,338,154 33,125,130 36,102,750
2 Other Staff Costs

Medical Fees 1,051,752 1,046,545 1,045,061
Staff Uniform 20,345 57,535 66,920
Staff Refreshment 88,969 61,807 49,043
Staff Insurance 424,568 465,120 365,622
Staff Welfare 63,137 188,513 340,929
Housing Loan Interest Subsidy - 358 85
Sport Club Subsidy 32,181 - -
Unutilized Annual Leave 356,190 - -
Petrol Subsidy - 141,020 195,322
Club Membership - 34,587 82,176
Professional Bodies Membership - 9,274 10,650
Credit Card Subscription Subsidy - - -
Phone Bill Subsidy - 879 660
Annual Return Trip/ Leave Passage - - 25,000
Outfit Allowance - - 2,250
Staff Entertainment 9,793 -
Meeting Expenses - -
Sub Total 2,096,713 2,024,917 2,258,716

Training & Seminar Local 1,756,091 1,170,397 916,328
Training & Seminar Overseas 14,695 111,283 140,492
Sub Total 1,770,786 1,281,680 1,056,821

Directors Fees 296,854 492,000 522,167
Directors Allowance 184,744 205,841 249,723
Directors' Travelling & Accommodation 33,966 312 4,739
Directors' Insurance 30,029 24,195 50,000
Conference Meeting - 204,701 121,128
Director's Gift 15,200
Sub Total 545,592 927,048 962,957

Office Rental 4,322,773 4,989,006 5,116,831
Utilities (Electricity & Water) 358,872 352,695 477,130
Office Equipment Rental 262,867 215,963 298,800
Office Cleaning & Security 193,166 - -
Office Cleaning & Upkeep - 228,669 288,997
Office Security - 11,481 36,012
Insurances 211,924 126,142 108,940
Furniture & Fittings 68,992 127,156 249,321
Office Equipments 62,791 56,052 94,040
Motor Vehicle 164,724 106,128 79,180
Land & Buildings 6,559 4,555 -
Sub Total 5,652,669 6,217,846 6,749,251
6 IT Costs
Network Charges 580,345.78 - -
PNB NETWORKS 69,837.00 - -
Internet & Network Charges - 999,730.00 1,353,333.35
Computer System Development Fees 6,656,923.86 1,758,982.84 2,636,172.24
Computer Equipments 199,851.60 1,390,990.88 2,295,640.71
IT Peripherals - 3,316.20 96,822.36
Sub Total 7,506,958 4,153,020 6,381,969
Telephone 737,185 854,046 932,520
Telex & Telefax 11,373 4,662 21,801
Postage & Parcels 798,301 861,221 812,875
Sub Total 1,546,860 1,719,928 1,767,196

Local Travelling 482,483 708,650 588,135
Overseas Travelling 25,006 143,826 169,253
Local Subsistence - 20,909 96,819
Overseas Subsistence - 8,737 36,475
Local Accommodation - 62,649 279,220
Overseas Acccommodation - 9,199 59,016
Parking Fees 58,836 52,049 86,643
Company Entertainment 251,972 330,468 461,846
Sub Total 818,296 1,336,485 1,777,407

Donations 257,399 246,763 103,269
Advertising 423,583 370,032 1,549,035
General Promotion 2,728,605 1,763,723 3,709,035
Corporate Sponsorship - 391,809 798,661
Sub Total 3,409,587 2,772,327 6,160,000
Audit Fees 191,000 73,258 100,000
Legal Fees 93,410 197,104 317,500
Tax Advisory Fees 27,990 (39,692) 30,000
Assured Medical Fees - - -
Actuarial Fees 102,000 40,000 -
Other Professional Fees 1,487,547 5,794,972 886,619
Secretary Services - - -
Fund Management (Investment Related Exp) 300,000 317,990 338,976
Sub Total 2,201,947 6,383,632 1,673,094

MF Chargeback
MBB Chargeback
MNI Management Fees - 1,109,952 1,172,976
Sub Total - 1,109,952 1,172,976

Agency Promotion 2,485,181 - -
Training & Seminar - Local - 945,072 1,417,145
Training & Seminar - Oversea - - -
Meeting & Conferences - 37,872 391,152
Marketing Incentives & Promotions -
Material Incentives - 826,204 2,018,808
Fringe Benefits - 194,955 225,761
Office Maintenance - 97,500 178,853
Break-Away Benefits - 3,090 268,280
Sub Total 2,485,181 2,104,692 4,500,000

Stamp Duty 1,088,737 806,148 1,094,476
Biro Angkasa Charges 1,401,962 2,023,991 1,783,960
Sub Total 2,490,699 2,830,139 2,878,436

Insurance Levy 36,785 61,575 59,280
Trade Subscriptions 72,483 81,285 107,913
Sub Total 109,267 142,860 167,193
15 All Others
Sundry - - -
Ex-Gratia Payment 107 544,582 11,872
Stationery 577,663 784,722 553,944
Publications & Trade Journals 175,880 45,205 88,585
Printing 1,756,908 1,553,131 1,433,105
Bank Charges 331,811 257,122 420,903
Bad & Doubtful Debt - - -
Small Balance Waiver 117 - -
Service Tax Expenses 398,235 439,121 59,352
Bank Reconciliation Adjustment 171,533 - (5,786)
Penalty Charges 28,776 16,951 2,531
Profit On Cash Collateral 73,477 77,282 79,174
Service Charges (Asia Nadi) 228,251 403,183 354,441
Discount Received - (5) -
Sub Total 3,742,757 4,121,295 2,998,119
16 Depreciation
Furniture & Fittings 1,181,961 1,687,082 2,043,519
Office Equipments 178,885 237,312 343,775
Computer Equipments 2,484,661 4,491,636 9,374,812
Motor Vehicle 158,691 189,154 121,670
Land & Buildings - - -
Office Renovation - 378 31,179
Sub Total 4,004,198 6,605,563 11,914,955

3 INVESTMENT INCOME
ACTUAL FY 03/04
IDX DESCRIPTION SHF GENERAL COMBINED FAMILY TOTAL

1 Profits 3,038,770 6,759,140 66,063,998 75,861,908
2 Dividends from Shares 391,220 1,033,100 9,555,574 10,979,894
3 Net Accretion/(Amortisation) (34,530) 221,780 119,590 306,840
4 Provision for diminution 4,309,190 (437,850) (672,565) 3,198,775
5 Gain/(Loss) on Disposal (678,230) 81,030 11,149,010 10,551,810
6 Provision for doubtful debt (2,081,000) (430,000) (30,673,498) (33,184,498)
7 Investment Expense (1,570) (5,350) (10,413) (17,333)
NET INVESTMENT INCOME 4,943,850 7,221,850 55,531,696 67,697,396
ACTUAL FY 04/05

1 Profits 3,215,870 7,378,830 69,833,935 80,428,635
3 Net Accretion/(Amortisation) (85,630) 1,409,570 11,477,305 12,801,245
4 Provision for diminution (2,622,890) (1,607,710) (7,015,214) (11,245,814)
5 Gain/(Loss) on Disposal 801,780 1,997,700 13,394,386 16,193,866
6 Provision for doubtful debt (949,900) - - (949,900)
NET INVESTMENT INCOME 996,740 11,008,420 105,122,214 117,127,374

BUDGET FY 05/06

1 Profits 2,902,319 8,452,065 78,524,503 89,878,887
3 Net Accretion/(Amortisation) (87,632) 1,685,074 12,868,086 14,465,527
4 Provision for diminution 98,160 (941,534) (2,036,664) (2,880,038)
5 Gain/(Loss) on Disposal 1,001,744 4,070,214 26,693,008 31,764,966
6 Provision for doubtful debt (709,500) - 2,600,000 1,890,501
NET INVESTMENT INCOME 3,960,498 15,570,086 138,752,950 158,283,534
1 Office Equipment 1,400,010

2 Office Furniture / Fitting 1,053,890
3 Other Equipment
7 Office Renovation 7,779,080

Mayban Life International (Labuan)
Profit and loss
(in RM)
FY '03/04 FY 04/2005 FY '03/04 FY '05/06 Actual FY '06/07 Actual FY '07/08 Actual FY '08/09 Actual
Gross Premium 1,549,530 37,136,284 2297% - #N/A - #N/A - #N/A - #N/A
Profit after Tax & Transfer 539,395 230,880 -57% - #N/A - #N/A - #N/A - #N/A
Mayban Fortis Holdings Bhd (Ex dividend)
Profit and loss
(in RM)
FY '03/04 FY 04/2005 FY '03/04 FY '05/06 Actual FY '06/07 Actual FY '07/08 Actual FY '08/09 Actual
Profit after Tax (Ex net dividends) (478,187) (625,674) 31% (567,446) -9% (567,446) 0% (567,446) 0% (567,446) 0%
Gross Written premium (By company) FY '03/04 FY '04/05 FY '05/06 FY '06/07 FY '07/08
Mayban General assurances (MGAB) 285,129,000 325,054,597 396,245,500 480,887,000 528,975,700
Mayban Life Assurance (MLA) 993,277,301 951,619,119 1,407,251,000 1,638,705,000 1,884,510,750 5,500,000,000
Mayban Takaful (MTB) General 6,284,870 17,266,072 48,180,000 95,465,000 109,784,750 5,000,000,000
Mayban Takaful (MTB) LIFE 35,632,696 85,998,278 126,050,000 144,735,000 173,682,000
4,500,000,000
Mayban life international (MLI) 1,549,530 37,136,284 - - - TN GENERAL
MNI LIFE 709,852,000 1,026,204,000 952,500,000 1,102,000,000 1,190,160,000 4,000,000,000 TN LIFE
MNI GENERAL 507,705,000 442,987,000 526,700,000 579,000,000 619,530,000 3,500,000,000 MNI GENERAL
MNI LIFE
TN LIFE 390,431,000 400,812,000 436,927,000 535,003,524 636,654,194
3,000,000,000 Mayban life international
TN GENERAL 182,629,274 189,969,000 228,588,000 265,356,974 302,506,950 (MLI)
TOTAL 3,112,490,671 3,477,046,350 4,122,441,500 4,841,152,498 5,445,804,344 2,500,000,000 Mayban Takaful (MTB) LIFE
2,000,000,000 Mayban Takaful (MTB)
General
PBT (Local accounts) FY '03/04 FY '04/05 FY '05/06 FY '06/07 FY '07/08 1,500,000,000 Mayban Life Assurance
Mayban General assurances (MGAB) 74,439,000 88,153,491 88,888,547 91,305,446 100,032,766 (MLA)
Mayban Life Assurance (MLA) 9,918,111 28,341,000 34,570,398 40,762,673 45,873,269 1,000,000,000 Mayban General assurances
(MGAB)
Mayban Takaful (MTB) (525,728) (4,791,429) 1,582,130 4,099,200 5,472,644 500,000,000
Mayban Life international (MLI) (PAT) 539,395 230,880 - - - -
FY '03/04
Mayban Fortis Holdings (MFHB) (ex dividends) (PAT)
(478,187) (625,674) (567,446) (567,446) (567,446) FY '04/05
FY '05/06
MNI 107,162,000 76,263,000 84,146,950 79,895,000 94,067,900 FY '06/07
FY '07/08
TN 44,157,219 51,554,000 54,781,000 65,582,137 76,208,979
TOTAL 235,211,810 239,125,268 263,401,579 281,077,010 321,088,112
Net Profit (Fortis IFRS Accounting rules (ex.

FY IFRS
'03/04asset corr.))
FY '04/05 FY '05/06 FY '06/07 FY '07/08
Mayban General assurances (MGAB) 65,257,000 73,479,198 73,897,412 74,436,238 79,696,482
Mayban Life Assurance (MLA) 31,648,528 42,835,556 59,499,526 68,083,593 76,888,674
Mayban Takaful (MTB) (665,209) (4,764,217) 942,130 2,889,241 3,857,287
325,000,000
Mayban Life international (MLI) 539,395 230,880 - - -
Mayban Fortis Holdings (MFHB) (478,187) (625,674) (567,446) (567,446) (567,446) 300,000,000
MNI 103,705,000 81,628,438 69,389,387 73,893,683 94,341,166 275,000,000
TN 20,916,374 35,636,000 37,804,000 43,289,732 50,255,869 250,000,000
TOTAL 220,922,901 228,420,181 240,965,009 262,025,042 304,472,032 225,000,000 TN
200,000,000 MNI
Mayban Fortis Holdings
175,000,000 (MFHB)
ME FY '03/04 FY '04/05 FY '05/06 FY '06/07 FY '07/08 150,000,000 Mayban Life international
(MLI)
Mayban General assurances (MGAB) 61,828,000.00 61,681,585.00 70,604,773.00 78,145,671.12 85,178,781.52 125,000,000
Mayban Takaful (MTB)
Mayban Life Assurance (MLA) 32,288,041.00 33,328,239.00 48,111,455.00 49,782,053.00 54,760,258.30 100,000,000 Mayban Life Assurance
Mayban Takaful (MTB) 7,211,681.00 12,521,123.00 17,273,870.00 24,554,000.00 28,012,100.00 75,000,000 (MLA)
MNI 104,900,000.00 111,653,000.00 131,453,050.00 144,810,682.41 154,528,751.55 50,000,000 Mayban General assurances
(MGAB)
TN 93,780,439.00 70,832,000.00 82,501,000.00 89,796,620.70 99,215,716.19 25,000,000
TOTAL 300,008,161.00 290,015,947.00 349,944,148.00 387,089,027.24 421,695,607.57
(25,000,000)
FY '03/04
FY '04/05
FY '05/06
FY '06/07
FY '07/08
450,000,000.00
400,000,000.00
350,000,000.00
300,000,000.00
TN
250,000,000.00 MNI
Mayban Takaful (MTB)
200,000,000.00 Mayban Life Assurance
(MLA)
150,000,000.00 Mayban General assurances
(MGAB)
100,000,000.00
50,000,000.00
-
FY '03/04
FY '04/05
FY '05/06
FY '06/07
FY '07/08
Note Comment
1
2
3
4
5
6
7
8
9
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Overall Baseline

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Overall Baseline

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CONFIDENTIAL - DISTRIBUTION RESTRICTED

CONFIDENTIAL - DISTRIBUTION RESTRICTED

05/06 Budget figures + MTP (Base case excluding Merger impact)

PRELIMINARY or NOT AVAILABLE/PROVIDED BY THE ENTITIES

Gross Written premium (By company)

Net Profit (Local accounts)

FINANCIAL IMPACT MERGER FY '03/04 FY '04/05 FY '05/06 FY '06/07 FY '07/08

MERGER EXPENSES (one off) 11,000,000

Acquisition price (= +/- Bookvalue) 1137450422.84

1 GENERAL INSURANCE BUSINESS

Gross Earned Premium

KEY RATIO's GENERAL

Gross Earned Premium

KEY RATIO's GENERAL

Gross Earned Premium

KEY RATIO's GENERAL

MGAB 61,828,000 61,681,585 0% 70,604,773 14% 78,145,671 11% 85,178,782 9% 92,844,872 9%

MGAB 46,525,000 59,635,116 28% 63,110,432 6% 61,826,238 -2% 67,039,958 8% 72,652,841 8%

MGAB #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!

MGAB 74,439,000 88,153,491 18% 88,888,547 1% 91,305,446 3% 100,032,766 10% 109,510,609 9%

MGAB 54,600,000 62,822,406 15% 63,240,620 1% 63,779,446 1% 69,039,690 8% 75,863,737 10%

KEY RATIO's Actual Actual Budget Budget Budget Budget

GENERAL BUSINESS - SUPPORTING SCHEDULE

Marine, Aviation &

Gross Earned Premium

MGAB 8,944,028 6,900,844 829,383 16,322,460 32,996,715

MGAB 19,115,116 12,954,683 1,295,389 28,462,953 61,828,141

MGAB 11,552,813 26,251,826 785,820 49,994,055 88,584,514

MGAB 21,427,389 19,000,719 1,235,788 - 4,861,465 - - - 46,525,361

KEY RATIO's GENERAL

GENERAL BUSINESS - SUPPORTING SCHEDULE 13

Marine, Aviation &

Gross Earned Premium

MGAB 8,902,365 8,037,810 1,156,880 21,448,324 39,545,379

MGAB 18,727,988 12,335,775 1,501,889 29,115,933 61,681,585

MGAB 16,885,681 27,444,382 (1,566,382) 53,877,858 96,641,539

MGAB 26,080,259 13,643,259 4,800,092 - 15,111,436 - - - 59,635,046

KEY RATIO's GENERAL

GENERAL BUSINESS - SUPPORTING SCHEDULE 14

Marine, Aviation &

Gross Earned Premium

MGAB 14,495,444 9,962,188 1,605,671 27,487,102 53,550,405

MGAB 21,148,810 14,153,774 1,616,204 33,685,985 70,604,773

MGAB 19,439,534 45,634,530 2,612,708 57,339,007 125,025,779

MGAB 31,106,159 8,279,182 1,676,011 - 22,049,080 - - - 63,110,432

KEY RATIO's GENERAL

GENERAL BUSINESS - SUPPORTING SCHEDULE 15

SHF & GENERAL

4 CAPITAL EXPENDITURE FY 05/06

IDX DESCRIPTION MGAB MNI TOTAL

1 Office Equipment 322,034 - 322,034

GENERAL BUSINESS - SUPPORTING SCHEDULE 16

Taxes 19,839,000 25,331,085 28% 25,647,927.00 1% 27,526,000.00 7% 30,993,076.21 13% 33,646,872.26 9%

Pro Forma Profit (loss) after tax (Fortis consol. Ex

KEY RATIO's Actual Actual Budget Budget Budget Budget

Fire Motor MAT Accident Total

MAYBAN GENERAL ASSURANCE - SUPPORTING SCHEDULE 18

Fire Motor MAT Accident Total

MAYBAN GENERAL ASSURANCE - SUPPORTING SCHEDULE 19

Fire Motor MAT Accident Total

MAYBAN GENERAL ASSURANCE - SUPPORTING SCHEDULE 20

IDX EXPENSE ITEMS ACTUAL FY 03/04 ACTUAL FY 04/05 BUDGET FY 05/06

1 Payroll & Labour Burden