* Amount > LKR 5 (JINS can distribute tax free dividend received from CFVF.N0000)
Profit Expectations
* Earnings should be good. * Majority of BOND portfolio is classified under 'Financial Assets at Fair Value Through Profit or Loss'. Hence capital gains due to rate cuts will reflect in P&L.
NAV
* LKR 60.64 / PBV 0.75 (All other life insurance companies in CSE are trading above NAV.)
Comment
Future Monetary Policy
* We expect at least 2 more rate cuts by MB of Sri Lanka. Hence YoY earnings growth expected to continue towards Q2 2024 (Capital gains from Bond Portfolio.
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