Mutual Insurance Bhd.

Computation of tax payable for YA 2014

Life Fund
RM'000
Gross Premiums
Add:
Rental income (gross)
Dividend income (single tier)

0
0

Gross proceeds from sale of sales

500
0
0
500

Reserve for unexpired risks as at 31 Dec 2013

Acturial surplus

Less:
Net claims incurred
Management expenses
Commission paid
Cost of share sold
Reinsurance premiums payable in Malaysia
Reinsurance premiums outside Malaysia
Reserve for unexpired risks as at 31 Dec 2014

0
0
0
250
0
0
0
250.00

Adjusted income
(-) capital allowance
Statutory income

250.00
50
200.00

Aggregate Statutory income

(-)Unabsorbed loss b/f
Chargable income

200.00
50
150

Note

Gross premium receive

(-)Reinsurance premium in Malaysia
(-)Reinsurance premium outside Malaysia (95%)
Net premium

Marine, aviation policies

(MAT)
1000
100
57
843

Reserve for unexpired risk allowed as at 31/12/14

MAT(25% of 843)
FMOP (Actuarial Basis)

210.75
400
610.75

Shareholders' fund
RM'000

General insurance
RM'000
0

5000

200
0
0
0
1000
1200

300
800
717
0
6817

0
0
0
0
0
0
0
-

350.00
400.00
50.00
500.00
300.00
57.00
610.75
2,267.75

1,200.00

4,549.25
240
4,309.25

1,200.00

5,509.25
360
5,149.25

Fire, motor, & other

policies(FMOP)

Total
4000
200
3800

1520 40% of 3800

5000
300
57
4643