FINANCIAL STATEMENT ANALYSIS
SUBMITTED BY:- POONAM KUMARI ROLL NO. MBA 3rd SEM
KALPI INSTITUTE OF TECHNOLOGY KALPI SESSION (2011-13) KURUKSHETRA UNIVERSITY KURUKSHETRA
Birla Sun Life Insurance
I hereby declare that the project report titled “FINANCIAL STATEMENTS OF BIRLA SUN LIFE INSURANCE CO. LTD”, submitted in the partial fulfillment of the requirement of Master of Business Administration to KALPI INSTITUTE OF TECHNOLOGY KALPI is my original work. POONAM KUMARI
Birla Sun Life Insurance
CERTIFICATE BY THE GUIDE This is to certify that the work entitled “FINANCIAL STATEMENT ANALYSIS” is a piece of research done by Poonam Kumari, a student of MBA 3rd semester bearing enrolment no. under my guidance and supervision for partial fulfillment of summer training project of Kurukshetra university Kurukshetra . To the best of my knowledge and belief the project report: 1. Embodies the work of the candidate herself 2. Has been duly completed 3. Is up to the standard in respect to contents and language for being referred to the examiner.
Birla Sun Life Insurance
“SUCH THANKS I GIVE AS NEAR DEATH TO THOSE THAT WISE HIM LIVE” -SHAKESPEARE A formal statement of acknowledgement will hardly meet the ends of justice in the matter of expressing my deep sense of gratitude and obligation to all those who helped me in the completion of this project report. The past six weeks working on this project under the guidance of my Project Leader and Guide has greatly influenced my way of thinking toward facing the challenges faced during day-to-day development of this project. This will help me a lot in future as I move further ahead in my professional life in the days to come. I hereby also thank Mrs. Richa (Head of Department, MBA) for giving us this opportunity to work on the summer internship project that will enhance our knowledge and competences to meet such task in future. I am especially indebted to my Project manager, “MR PARVEEN BAJAJ”, without whose precious time &expert guidance, the project would not have taken the current shape. His guidance and in depth knowledge of Financial concepts have boosted my confidence to complete this project successfully. He always offered friendship, wisdom and skilled hand when things needed to be get done. He made the intricacies of the existing project clear to me. He deserves special thanks for his technical guidance throughout the project. Last but not least I would also like to express my heartiest gratitude to internal project guide “Ms. “ who helped me a lot throughout this project.
Birla Sun Life Insurance
On the home front, I like to thanks my parents, his support throughout the making of this report. Poonam
Birla Sun Life Insurance
PROJECT REPORT ON
STUDY OF PRODUCT PORTFOLIO
A report submitted in partial fulfillment of BBA programme at
Birla Sun Life Insurance
We would like to express our sincere gratitude and thanks to Mr. Rajesh Rao, Agency Manager, Birla sun life insurance ltd, Jaipur for giving us the guidance. We owe everything we have gained from the project in terms of knowledge and experience to them, as without their timely support and encouragement the project would not have been as fruitful as it has been.
We also thank Mr. Ashwin saxena for his constant encouragement and guidance at every stage of this project, acting as my faculty guide. He has been kind enough to spare his valuable time and share his corporate experiences, which helped me to approach the project in the right way.
We are grateful also to the entire staff of Birla sun life insurance ltd who helped us to collect the relevant data and get the real gist of current scenario.
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We would also like to extend sincere thanks to few people who were not part of our project but without their help things would not have been as easy as they were.
THANK YOU ALL
Bhanwar lal kumawat (BBA 3ndYear)
Parishkar college of Global Excellence.
Birla Sun Life Insurance
2. Fundamental 6-8 principles of insurance
3. Reasons for taking a life insurance policy 9-10 4. 11 5. 12-16 6. 17-19 Vision, Mission, Company Sales Values Profile Procedure Products
7. Company’s 19-34 7.1 Flexi Plans 7.2Classic Life Premier 7.3 Gold plus II Plan 7.4 Supreme Life Plan 7.5 Platinum plus Plan 9. 34-39 11. 40
Birla Sun Life Insurance
12. 41 13. 41 14. Annexure 42-44
in law and economics, is a form of risk
management primarily used to hedge against the risk of a contingent loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for a premium. An insurer is a company selling the insurance. The insurance rate is a factor used to determine the amount, called the premium, to be charged for a certain amount of insurance coverage. Risk management, the practice of appraising and controlling risk, has evolved as a discrete field of study and practice.” The evolution of human beings from the primordial ‘wild’ stage to the ‘cave dwelling’ stage is nothing but their saga of search for security. Their quest for security is eternal. Life insurance is a device invented by them to seek security against the most important hazards against which they found themselves quite helpless. It will not be an exaggeration to say that progress of civilization is due to human beings’ unending pursuit for security. 10
Birla Sun Life Insurance Life insurance in its modern form is a western concept. Although it started taking shape since last 300 years, it came to India with the arrival of the Europeans .the first life insurance company was established in India in 1818 as oriental life insurance company mainly by Europeans to provide for widows of Europeans. The companies that followed mainly catered to Europeans and charge extra premium on Indians lives. The first Indian company, insuring Indian lives at standard rates, was Bombay mutual life insurance company, which was formed in 1870.this was the year also when the first Insurance Act was passed by the British parliament. The years subsequent to the Swedishi Movement saw the emerging of several insurance companies. The end of the year 1955, there were 245 insurance companies and provident societies out of which 16 were non-Indian companies. These companies were nationalized in 1956 and brought under one umbrella – the life insurance corporation of India, which enjoyed monopoly of life insurance business, till almost up to the end of year 2000.By enacting the IRDA Act 2000,the government of India effectively ended LIC’s monopoly and opened the doors for private insurance companies
FUNDAMENTAL PRINCIPLES OF INSURANCE
Some useful terms in Insurance: A) INDEMNITY
Birla Sun Life Insurance A contract of insurance contained in a fire, marine, burglary or any other policy excepting life assurance and personal accident and sickness insurance) is a contract of indemnity. This means that the insured, in case of loss against which the policy has been issued, shall be paid the actual amount of loss not exceeding the amount of the policy, i.e. he shall be fully indemnified. The object of every contract of insurance is to place the insured in the same financial position, as nearly as possible, after the loss, as if his loss had not taken place at all. It would be against public policy to allow an insured to make a profit out of his loss or damage. B) UTMOST GOOD FAITH Since insurance shifts risk from one party to another, it is essential that there must be utmost good faith and mutual confidence between the insured and the insurer. In a contract of insurance the insured knows more about the subject matter of the contract than the insurer. Consequently, he is duty bound to disclose accurately all material facts and nothing should be withheld or concealed. Any fact is material, which goes to the root of the contract of insurance and has a bearing on the risk involved. It is only when the insurer knows the whole truth that he is in a position to judge (a) Whether he should accept the risk and (b) What premium he should charge. If that were so, the insured might be tempted to bring about the event insured against in order to get money.
Birla Sun Life Insurance
C) Insurable Interest - A contract of insurance affected without insurable interest is void. It means that the insured must have an actual pecuniary interest and not a mere anxiety or sentimental interest in the subject matter of the insurance. The insured must be so situated with regard to the thing insured that he would have benefit by its existence and loss from its destruction. The owner of a ship run a risk of losing his ship, the charterer of the ship runs a risk of losing his freight and the owner of the cargo incurs the risk of losing his goods and profit. So, all these persons have something at stake and all of them have insurable interest. It is the existence of insurable interest in a contract of insurance, which distinguishes it from a mere watering agreement. D) Causa Proxima - The rule of causa proxima means that the cause of the loss must be proximate or immediate and not remote. If the proximate cause of the loss is a peril insured against, the insured can recover. When a loss has been brought about by two or more causes, the question arises as to which is the causa proxima, although the result could not have happened without the remote cause. But if the loss is brought about by any cause attributable to the misconduct of the insured, the insurer is not liable.
Birla Sun Life Insurance E) Risk - In a contract of insurance the insurer undertakes to protect the insured from a specified loss and the insurer receive a premium for running the risk of such loss. Thus, risk must attach to a policy. F) Mitigation of Loss - In the event of some mishap to the insured property, the insured must take all necessary steps to mitigate or minimize the loss, just as any prudent person would do in those circumstances. If he does not do so, the insurer can avoid the payment of loss attributable to his negligence. But it must be remembered that though the insured is bound to do his best for his insurer, he is, not bound to do so at the risk of his life.
G) Subrogation - The doctrine of subrogation is a corollary to the principle of indemnity and applies only to fire and marine insurance. According to it, when an insured has received full indemnity in respect of his loss, all rights and remedies which he has against Third person will pass on to the insurer and will be exercised for his benefit until he (the insurer) recoups the amount he has paid under the policy. It must be clarified here that the Insurer’s right of subrogation arises only when he has paid for the loss for which he is liable under the policy and this right extends only to the rights and remedies available to 14
Birla Sun Life Insurance the insured in respect of the thing to which the contract of insurance relates. H) Contribution - Where there are two or more insurance on one risk, the principle of contribution comes into play. The aim of contribution is to distribute the actual amount of loss among the different insurers who are liable for the same risk under different policies in respect of the same subject matter. Any one insurer may pay to the insured the full amount of the loss covered by the policy and then become entitled to contribution from his co-insurers in proportion to the amount which each has undertaken to pay in case of loss of the same subject-matter. In other words, the right of contribution arises when 1) There are different policies, which relate to the same subject matter 2) The policies cover the same peril which caused the loss, and 3) All the policies are in force at the time of the loss, and 4) One of the insurers has paid to the insured more than his share of the loss.
Birla Sun Life Insurance Life Insurance Policy is a form of security for the person who insures his life and his family. Life insurance policies have helped trade and other economic activities to flourish in a great manner. It has generated lots of job opportunities. It is looked upon as a lucrative career option. Life insurance companies have also entered the international business scenario.
The following reasons substantiate why a life insurance policy should be taken: A) Early Deaths
The mortality rate is experiencing a declining trend in many parts of the world. However it is also important to note that the age at which People die is also ever decreasing. Some reasons for this include unhealthy living style, stress, pollution, and some natural calamities. This necessitates people to make adequate measures to yield income for their family and dependents. This could be a serious concern if the insured happens to be the sole breadwinner. Some individuals see this as an option to plan their retirement.
B) Advancements in Health Care
The mortality rate has declined rapidly even though the fact remains that the number of people who die at an early age is on the increase. This is mainly due to the advancement in healthcare and the awareness on medical facilities. This results in an increased spending at an old age. This increased spending is also due to increase in the costs of
Birla Sun Life Insurance living apart from paying expensive medical bills. Unless they invest in Life insurance or other forms of insurance like health insurance it becomes next only too impossible to meet the financial demands especially during the old days.
C) Increase in the Cost of Living and Spending Power
The purchasing power of the consumers and the standard of living has experienced a steep rise over the years. The increase in National Income and gross domestic product are Partly responsible for this. Individuals incur many unexpected expenses due to the growing needs. Insurance comes in handy to meet such an unexpected expense. It also Makes sure that an individual is able to meticulously plan his finances. Insurance option is more or less an interest free loan. An individual can cancel his insurance policy and obtain a huge amount if it is imperative in meeting an urgent expenses and he does not have alternative sources for finance. Life insurance companies therefore do the needful to consumers.
D) Tax Concessions
Birla Sun Life Insurance Income tax concessions are available to individuals and corporate houses that adopt insurance policies. Many have been making investments in Insurance with the sole aim of enjoying tax benefits. This naturally increases spending power. Since the investments increases the economic activities in the country automatically increases.
To be a world class provider of financial security to individuals and corporates and to be amongst the top three private sectors life insurance companies in India.
Birla Sun Life Insurance
To be the first preference of our customers by providing innovative, need based life insurance and retirement solutions to individuals as well as corporates. These solutions will be made available by well-trained professionals through a multi channel distribution network and Superior technology. Our endeavor will be to provide constant value addition to customers throughout their relationship with us, within the regulatory framework. We will provide career development opportunities to our employees and The highest possible returns to our shareholders.
Integrity: Honesty in every action. Commitment: Deliver on the promise
Birla Sun Life Insurance
Seamlessness: Boundary less in letter & spirit Speed: One step ahead always
Birla Sun Life – A Coming Together Of Values
Birla Sun Life is a joint venture between The Aditya Birla Group, one of the largest business house in India and Sun Life Financial Inc., a leading International Financial Services Organization. The local knowledge of the Aditya Birla Group combined with the expertise of Sun Life Financial Inc. offers a formidable protection for our future. The Aditya Birla Group is led by its chairman- Mr. Kumar Manglam Birla. The Group has over 88000 employees across all its units worldwide. Some of the key organizations with the group are Hindalco, Grasim, Aditya Birla Nuvo, etc. The group is India's leading business house with a number of key organizations. These are as follows:
Birla Sun Life Insurance 1. Grasim 2. UltraTech Cement Ltd 3. Hindalco 4. Indian Aluminium Company Ltd 5. Aditya Birla Nuvo 6. Idea Cellular Ltd. 7. Birla Sun Life Insurance Co.Ltd 8. Birla Sun Life Asset Mgmt. Co.Ltd 9. Birla Sun Life Distribution Co. Ltd 10. PSI Data Systems 11. Indo Gulf Fertilizers Ltd. 12. Birla Global Finance Ltd
Sun Life Financial Inc. and its partners today have operations in key markets worldwide, including Canada, the United States, the United Kingdom, Hong Kong, the Philippines, Japan, Indonesia, India, China and Bermuda. Sun Life Financial Inc. is a leading player in the life insurance market in Canada. Share Holding Pattern: In Birla-Sun Life, the two companies are having shareholding pattern as follows: 74 %--> Aditya Birla Group 26 %--> Sun Life Financial Inc. The group has 3 businesses: 1. Mutual Funds 2. Wealth Management 21
Birla Sun Life Insurance 3. Life Insurance
Birla Sun Life Insurance co ltd. is the Life-Insurance arm of Birla-Sun Life Birla Sun Life Insurance in its 7 successful years of operations has contributed significantly to the growth and development of life insurance industry in India. It pioneered the launch of Unit Linked Life Insurance plans amongst the private players in India. It was the first player in the industry to sell its policies through the Bancassurance route and through the Internet. It was the first private sector player to introduce a Pure Term plan in the Indian market. This was supported by sales practices, which brought a degree of transparency that was entirely new to the market. The process of getting sales illustrations signed by customers, offering a free look period on all policies, which are now industry standards were introduced by BSLI. Being a customer centric company, BSLI has covered more than a million lives since inception and its customer base is spread across more than 1000 towns and cities in India. All this has assisted the company
in cementing its place amongst the leaders in the industry in terms of new business premium income. The company has a capital base of more than Rs.672 crores.
Many ONEs with Birla Sun Life Insurance:
Birla Sun Life Insurance BSLI is a company that has a very unique contribution in the history of Insurance sector. The company not only has varying plans and funds, rather also is a pioneer in many aspects. These pioneering features of BSLI are as follows: 1. Free Look Period: BSLI offers its policyholders with a free look period of 15 days. Client gets freedom to have an in-depth look over all the terms and conditions regarding his/her life-insurance policy. If he finds policy not worth opting for, he can also return the policy, but at BSLI, co. people ensures this not to happen. 2. Bancassurance: BSLI pioneered Bancassurance in India. Bancassurance means to include Banks as one of the distribution channels with the company. BSLI is the first company, which realized that banks, with their huge customer base and strong customer loyalty, are a readymade platform to acquire new business on a more cost effective and sustainable basis. 3. Unit Linked Life Insurance Plans: BSLI was the first in India to introduce Unit Linked Plans. A ULIP is an auspicious coming together of security from life 4. insurance and earnings from investment. Which means, apart from securing the future they offer efficient returns. These plans provide the customer with a certain number of units, in the same way as a 23
Birla Sun Life Insurance mutual-fund holder gets units. ULIPs offer marketlinked returns to policyholders.
5. Sales Illustrations: BSLI is the first company to introduce Sales Illustrations in the Insurance Industry. Sales people of BSLI give demonstrations of fund
6. Performance on two points of projections i.e. on 6% and 10%. Now IRDA has also made it mandatory to have sales illustrations. BSLI’s has launched Century SIP, a unique systematic investment plan offering an opportunity to create wealth with as little as Rs 1000 per month plus a life insurance cover of up to 100 times the monthly installment. This plan comes along with free term insurance for an individual up to 55 years of age. The life insurance cover comes at no extra cost to the investor. The cover is hassle free. The investor need not go thru any medial test to avail of the life cover. All an investor needs to do is enroll for CSIP & sign a “Declaration of Good Health”. In case of unfortunate demise of investor the insurance claim will be directly paid to the nominee by the insurance company (Birla Sun Life Insurance Company).
Birla Sun Life Insurance Announcing the launch of Century SIP, Anil Kumar, CEO, and Birla Sun Life MF said, “This offering touches all aspects of an investor’s financial planning needs. We wish to encourage the investment habit among investors by providing them life insurance cover.” Insurance cover to the investor would continue even after the SIP’s minimum maturity tenor of 3 years. Any individual between 18 to 46 years of age may invest in this plan. Investment in this plan may be made through Electronic clearing system (ECS), direct debits or post dated cheques.
7. Others: Some other ONEs with BSLI are: 1st to issue daily NAVs of funds for better transparency. 1st to have a distinct CRISIL benchmark. 1st to disclose portfolio on a monthly basis. Policyholders can view their policy details online; they can be accessed from BSLI website using your unique password.
Birla Sun Life Insurance Out of every 100 claims intimated to BSLI 98.28 stands cleared. Also the average Turn Around Time (TAT) : (i) From the receipt of the last requirement till dispatch of cheque is 5 days and (ii) From intimation of claim till its decision & dispatch of cheque is 36 days.
Sales Procedure of Insurance in BSLI:
BSLI ensures that its policyholders get the best out of the policy offered to them by their Advisors. For this, BSLI follows a set procedure of selling Insurance to the clients. The sales procedure can be diagrammatically presented as follows:
Birla Sun Life Insurance
FIRST SALES CALL
This procedure can be stepped down as follows: 1. Pitching the customer: The first and foremost thing is that, client should be ready to purchase the Insurance plan. Insurance is not a very preferable product yet in India. And, thus, co. has to be very vigilant. Advisors, at BSLI, maintain relationships and make the most of their Goodwill. Insurance is a Relationship oriented business. Keeping this in mind BSLI also initiated Bancassurance,
Birla Sun Life Insurance where Banks’ image of being loyal to the customers, plays a major role in pitching the customer to buy Insurance. BSLI uses following routes for distributing their Product to general public: a. Direct Personal Contacts (through Advisors) b. Bancassurance (through Banks) c. Personal Relations (through co. employees) d. Existing Policyholders. 2. Sales Illustration: BSLI is the first company to give demonstration of the fund performance i.e. how a certain policy will perform or will give returns. BSLI Advisors give sales illustration. Fund performance is shown on 6% and 10% projections. If client find these projected returns suitable to his/her risk profile, he go for purchasing the policy. 3. Proposal Form: Now as client is ready to get insured, advisor gives him the proposal form and asks for all the documents required. Proposal form is a 4 page document that contains all the necessary information related to the Insured and the Owner of the policy. Documents required along with the proposal form are: Date-Of-Birth Proof Address & ID Proof Income Certificate Medical Certificates (only if Insurer is a senior citizen)
Birla Sun Life Insurance
4. After Sales Service: Now after the Insurance is sold, follow-ups are required. Advisor needs to maintain good relations with the policyholder. Insurance co. can Generate further business, only if, existing policyholders are satisfied with the services being provided by the advisor of the co. Thus, BSLI keeps this in mind and Business Development Executives continuously track the needs of the policyholders. BSLI provides the policyholders with monthly updates of the fund performance and also discloses the asset portfolio of the fund. This assists the policyholders to manage their policy according to their risk profile. They can, thus, change their fund allocation as well as the asset allocation in any fund, chosen by them.
COMPANY PRODUCTS / PLANS
All the plans associated with BSLI are Unit Linked Plans.
Flexi Plans have three variants. These variants are: 1. Flexi Save Plus (Endowment Plan) 29
Birla Sun Life Insurance 2. Flexi Cash Flow (Money Back Plan) 3. Flexi Lifeline (Whole of Life Plan) Features: • • • • • • This is a Unit Linked Plan with guaranteed Provides flexibility with Top-Up Facility. For Quarterly modal premium less than Policyholder can attach riders to the plan Liquidity in the form of Partial withdrawals. Three Investment Fund options are available returns.
Rs.5000, payment can be made through ECS. according to his/her needs.
with the policy and policyholder is free to switch between funds anytime during the tenure of the policy. • year. • Premium can be paid annually, semiannually, quarterly and monthly The Sum Assured may be increased once in every 5 policy years, starting from the 6th policy
Premium Invested: Collected Premium is invested in three Investment Fund Options. These funds are: 1. Protector 2. Builder 3. Enhancer
Birla Sun Life Insurance
Benefits: 1. Maturity Benefits: At maturity, Policyholder gets the higher of the guaranteed fund value (min. 3% on premium) or the Total Fund value. 2. Survival Benefits: (i) At the end of every 5th Coverage Benefit Period and the remainder on maturity, an amount equals to the minimum of (a) or (b) mentioned below will be reduced from the guaranteed fund value and transferred to the holding account for the purpose of partial withdrawals, where(a) Guaranteed Fund Value (b) Sum Assured % as stated below: • • • • 30% if the Coverage Benefit Period is 10 years. 25% if the Coverage Benefit Period is 15 years. 20% if the Coverage Benefit Period is 20 years. 15% if the Coverage Benefit Period is 25 years. If survival benefits are not withdrawn, they will continue to be a part of the Fund Value. (ii) If the life insured is a minor,
policyholder can withdraw the survival
Birla Sun Life Insurance benefit payout within one month from the scheduled payout date from the fund value.
3. Death Benefits: Age at time of Death 30 days to 1 year Age 1 Year to 60 Year On or After attainment of 60 Years
Death Benefits Fund Value Only Higher of Sum Assured less all partial withdrawals made in 24 months preceeding the death of life insured or the fund value or the guaranteed fund value. Higher of Sum Assured less all partial withdrawals made since the life insured attained the age 58 or the fund value or the guaranteed fund value.
Charges: 1. Mortality Charges: These charges are deducted by canceling units on a monthly basis at the prevailing NAV. The annual mortality charges per 1000 sum assured for sample ages are as follows: Age Male 20 1.01 30 1.17 1 1.16 3 40 2.15 0 1.65 7 50 5.53 2 4.03 0 60 13.732 10.660
6 Female 0.89 6
Birla Sun Life Insurance 2. Partial Withdrawal Charges: 2 withdrawals in a policy year are free of charge. Rs100 for every additional partial withdrawal are charged.
Classic Life Premier
This is the plan that not only helps to save for the future but also helps to get rich benefits from the investments, especially at a time when the need for family protection reduces significantly. Features: • • The plan is a unit linked, non-participating plan. This plan has the option of seven-investment fund with the flexibility to allocate the premiums in varying proportions into the different Fund Option. • • Top up facility is there. The minimum amount of top ups is 10000. The plan offers further benefits in the form of additional units, which will be added to the Fund value at the end of the 10th policy year. • • There is high liquidity in the form of Partial Withdrawals and Surrender Benefits. Death Benefits, which will be higher of the Fund value or Sum Assured, reduced by the applicable partial withdrawals. Eligibility: • Entry Age: Minimum: 30 days for 20 & 30 term 33
Birla Sun Life Insurance 8 years for 10 terms 30 years for whole life Maximum: For 10 years term- 60 years For 20 years term- 50 years For 30 years term- 40 years For Whole Life- 60 years • Duration: Minimum: 10 years Maximum: 70 years (assuming whole life to be 100 years) • Maturity Age: 70 years for the term- 10,20,30 years
100 years for whole life • Premium Payment Term: For 10 years term- 3, 5yrs or regular coverage paying period. For 20 yrs, 30yrs term and Whole Life- 5yrs, 10 yrs or regular coverage paying period. Premium Investment: Premium collected is invested in Seven Investment Fund Options: 1. Assure 2. Protector 3. Builder 4. Enhancer 5. Creator 6. Magnifier
Birla Sun Life Insurance 7. Maximiser Benefits: 1. Guaranteed Addition: It is in the form of additional units, which is added to the fund value on the 10th policy anniversary and on every 5th policy anniversary thereafter, while policy is in effect. 2. Partial Withdrawal Options: Partial Withdrawals can be made after 3 policy years or when the life insured attains maturity, whichever is later. The minimum partial withdrawal amount is Rs.10000
3. Surrender Benefits: Policy offers the flexibility of surrendering the policy, if the need arises. There is no surrender charge after 6 completed policy years. However, if the policy is surrendered within 3 years from inception, the surrender value is paid after the completion of the third policy anniversary. 4. Death Benefits: • Below 5 years: If the death of the life insured take place before 5 years, only the fund value shall be payable to the policy owner. • Between 5 to 60 years: Higher of the fund value or the sum assured less all applicable partial withdrawals made in the last 24 35
Birla Sun Life Insurance months preceding the death of the life insured. • 60 years and Above: Higher of the fund value or the sum assured less all applicable partial withdrawals made since the life insured attained the age of 58. 5. Maturity Benefits: On maturity of the policy, the fund value is payable. Under the whole life option, on maturity of the policy, when the life insured attains the age of 100, then fund value is payable and the policy will be terminated. 6. Tax Benefits: Tax benefits on premium payment are governed by section 80C of the Income Tax Act 1961. Tax Exemptions on the amount received on maturity in the unfortunate event of death and the withdrawals are governed by section 10(10D). 7. Addition of Riders: Policy holder can customize the plan by adding any of the following 6 riders: 1. Accidental Death & Dismemberment Rider 2. Term Rider 3. Critical Illness Rider 4. Critical Illness Plus Rider 5. Critical Illness Women Rider 6. Waiver of Premium Rider
Charges: 1. Premium Allocation Charges: These charges during the premium paying term are as under: 36
Birla Sun Life Insurance Policy Year Charge 1 13% 2 or 3 4% Thereafter 2%
This charge on Top-up and underwriting extra is 2%. 2. Mortality Charge: This charge will be deducted by cancellation of units on a monthly basis at the prevailing NAV. The Annual Mortality charge per 1000 of the Sum at risk for sample ages are as follows: Age Female Male 25 1.023 1.083 35 1.162 1.363 45 2.385 3.110 55 6.441 8.571 65 15.92 21.06
3. Fund Management Charge: This is charged by adjustment of the daily NAVs. The charge is: • • 1% p.a. for Assure, Protector, Builder and Enhancer Fund. 1.25% p.a. for Creator, Magnifier and Maximiser Fund. 4. Policy administration Charge: The charge is deducted by canceling units on a monthly basis at the prevailing NAV. The annual charge differs according to the Life Insurance Coverage Sum Assured and Life Insurance Coverage Paying Period. The maximum charge is 6.10 and the minimum charge is 0.00
Birla Sun Life Insurance
5. Surrender Charge: These charges are levied as the percentage of the annual life insurance coverage Premium payable. Charges are as follows:
Policy Year Surrender Charge
30% 20% 15% 10% 8% 6% NIL
6. Rider Premium Charge: If the riders are attached, this charge will be realized by cancellation of units on a monthly basis based on the equivalent monthly rider coverage premium payable, when rider coverage payment period equals the rider coverage benefit period.
Gold Plus II Plan
The plan gives much more than a good insurance cover, an opportunity to grow investment for the medium term. It is worth more than Gold. Features:
Birla Sun Life Insurance • • • It is a Unit Linked, Non-Participating, Insurance plan. Duration of plan is 8 years. Premium paying term of 3 years with the flexibility to reduce premium up to Rs. 10000 from the second policy year. • • • • Plan also has Top-up facility. Liquidity in the form of Partial Withdrawals and Surrender Benefits. Plan has 7 fund options. Free unlimited fund switching and premium redirection Eligibility: • • • Entry Age: 18 to 70 years. Minimum Premium: Rs.50000 Minimum sum Assured: 5 x Annual Premium
Premium Investment: Premium collected is allocated in varying proportions in seven investment fund options. Policyholder can switch between the fund options anytime during the tenure of the policy. The seven Investment Funds available are: 1. Assure 2. Protector 3. Builder 4. Enhancer 5. Creator 6. Magnifier
Birla Sun Life Insurance 7. Maximiser Benefits: 1. Maturity Benefits: On maturity fund value will be paid to the policyholder. 2. Death Benefits: In the Unfortunate event of the Death of the Life Insured prior to the maturity date of the policy, the nominee gets the greater of (a) Fund Value (b) Sum Assured reduced for partial withdrawal as follows: • Before the life insured attains the age of 60, the sum assured payable on death is reduced by partial withdrawals • made in the preceeding years. Once the Life Insured attains the age of 60, the Sum Assured payable on death is reduced by all partial withdrawals made from age 58 onwards. 3. Tax Benefits: Policyholder is eligible for tax benefits U/S 80C and U/S 10(10D) of the Income Tax Act 1961. • U/S 80C- Premium up to Rs.100000 is allowed as deduction from taxable income each year.
Birla Sun Life Insurance • U/S 10(10D) - The Benefits received under plan are exempted from tax. Charges: 1. Premium Allocation Charges: It is deducted from premium when received and before allocation of units.
Policy Charges On Policy Premium On top-up Premium 1 8% 2%
Policy Years 2 4% 2% 3 4% 2% 2% 4+
2. Fund Management Charges: Fund Management charge not exceeding 1.5% per annum of the fund value will be charged by adjustments of the daily unit price. The charge is • • 1% p.a.- Assure, Protector, Builder and Enhancer 1.25% p.a. – Creator, Magnifier and Maximiser 3. Policy Administration Charges: These charges are recovered by canceling units on a monthly basis proportionately from each investment fund. The annual Rate per 1000 of Sum Assured is:
* An additional 5 per 1000 will be charged in the first 3 policy years only on any excess Sum Assured over Rs. 50000
4. Mortality Charges: These charges are deducted on a monthly basis. These charges are taken by canceling units proportionately from each of the investment funds at that time. The annual rate per 1000 of Sum Assured less fund value for sample ages are: Age Female Male 25 1.023 1.083 35 1.162 1.363 45 2.385 3.110 55 6.441 8.571 65 15.92 21.06
5. Surrender Charges: These charges are applied when the policyholder surrender their policy in the first 3 policy years. The
Birla Sun Life Insurance surrender charge as a percentage of the annual policy premium chosen at issue is
Policy Charges Surrender Charges 1 15% Policy Years 2 12.5% 3 10% 4+ nil
Supreme Life Plan
Features: • • • • • • • The plan is a Unit Linked Insurance Plan. It provides the nominee with an increased sum assured and builds savings faster. The plan offers more protection of money at supremely low cost. Provides with Supreme Accidental TPD (Total Permanent Disability). Policyholder gets freedom to choose premium amount as low as Rs.25000 The plan provides with 6 Investment Fund Options. The plan is flexible as it provides the policyholder with Top-Up Premium facility to ensure faster growth in the Fund Value. • Partial Withdrawals, are allowed, after 3 years to meet liquidity needs of the policyholder Duration: • Policy Term: 10, 15, 20, 25, 30, 35, 40 Years.
Birla Sun Life Insurance • Premium Payment Term: Policyholder can choose to pay premium at short or regular intervals. Premium Investment: Premium Collected is investment in six investment fund options. These funds are: 1. 2. 3. 4. 5. 6. Assure Protector Builder Enhancer Creator Magnifier
Benefits: 1. Death Benefits: • Double Death Benefits i.e. Death Benefits= Sum Assured + Savings • Increasing Death benefits i.e. Death Benefit= Sum Assured + 25% every 5th year 2. Accidental TPD Benefit: • • • Policyholder immediately gets the original sum assured up to Rs.50 lac Co. pays the future premiums up to age 60. Policyholder gets flexibility to switch between the fund options. Two switches are free per annum. Charges: 3. Switches & Redirection:
Birla Sun Life Insurance 1. Mortality Charges: Charges
are deducted monthly by canceling units from the associated fund option. The charge is 95% 2. Policy Administration Charges: These charges are deducted monthly by canceling units from the investment fund. The annual charge is Rs. 720 on the first 1000 Sum Assured in all years i.e. Rs.3.60 per 1000 Sum Assured p.a. The additional charges for years 1-5 are as follows:
Term 10/15 20+ 3.
Band 1 4.75 3.75
Band 2 4.25 3.25
Band 3 4.00 3.00
Premium Allocation Charges:
These charges are 5% for the 1st policy year and 2% for subsequent policy years. 4. funds. Fund Management Charges: These charges are 1 – 1.25% p.a. for all associated
Platinum Plus Plan
Features: • • This plan is a Unit Linked, Non-Participating, Insurance plan. A policy term of 10 years. 45
Birla Sun Life Insurance • • • • A premium paying term of 3 years. One Innovative Investment fund, namely Platinum Plus Fund I. Full Liquidity after three policy years to meet any cash needs. Unique Guaranteed Maturity Unit Price representing the highest unit plus price of Platinum Plus Fund I recorded on 88 reset dates starting on March 17, 2008 and ending on June 15, 2015. Eligibility: • • • Entry Age of Life Insured: 18 to 70 Years. Minimum Annual Premium: Rs. 1,00,000 Minimum Sum Assured: 5xAnnual Premium.
Premium Collected is invested in the Equity & Debt Market according to the preset Asset Allocation of the Platinum Plus Fund I. Benefits: 1. Guaranteed Maturity Unit Price • • Minimum of Rs. 10 on the first Reset Date At maturity, is the highest Unit Price recorded on 88 Reset Dates 2. Maturity Benefits • Number of units multiplied by higher of Guaranteed Maturity Unit Price or prevailing Unit Price at maturity 3. Surrender Benefits • Full liquidity after 3 policy years –100% Fund Value*
Birla Sun Life Insurance
4. Death Benefits • Higher of Fund Value (as per the then prevailing unit price) or Sum Assured (less applicable partial withdrawals) 5. Tax Benefits • U/S 80C- Premium up to Rs.100000 is allowed as deduction from taxable income each year. • U/S 10(10D) - Benefits from the plan are exempted from tax. Charges:
Allocation Charges: 10% of
premium in the first year and 4% of premium in subsequent years.
2. Fund Management Charges: 1.00%-1.50%
p.a. for Assure & 1.50%-2.00% p.a. for Platinum Plus Fund I.
charges are deducted monthly by canceling units from the investment fund Assure first and then, from Platinum Plus I, if required. The annual charge is Rs. 720 on the first 1000 Sum Assured in all years plus Rs.6 per 1000 Sum Assured in years 1 to 3 only.
Birla Sun Life Insurance 4. Mortality Charges: Charges are deducted
monthly by canceling units from the associated investment funds. The Annual Charges for sample ages are as follows:
Attained Age Female Male
25 1.02 3 1.08 3
35 1.16 2 1.36 3
45 2.38 5 3.11 0
55 6.44 1 8.57 1
65 15.920 21.060
Charges: This charge, as a
percentage of the annual premium at issue, is 16%, 13% and 10% for policy year 1, 2 and 3 respectively.
6. Revival Charge: The charge for policy
revival is Rs. 100-1000 per revival
FUNDS BY BSLI
Birla Sun Life Insurance, a leading Life Insurance company, offers its clients with a long range of Funds. These funds are designed to cater to a variety of needs of people who are from different life stages. BSLI offers a 48
Birla Sun Life Insurance broad range of 12 funds, each having differing asset allocations. 12 funds offered are: 1. Individual Protector 2. Individual Assure 3. Individual Balancer 4. Individual Builder 5. Individual Creator 6. Individual Enhancer 7. Individual Life Maximiser 8. Individual Magnifier 9. Individual Multiplier 10. Pension Nourish 11. Pension Enrich 12. Pension Growth A new fund named Platinum Plus Fund I is also added in this list of funds. Asset Allocation is decided by the Fund Managers of the company. These fund managers continuously tracks the movements of volatile market and combine this volatility with the fund requirements of the policyholders. Accordingly he decides allocation of assets in 5 major investment options:
Government Securities Corporate Debt Securitized Debt Equity
Birla Sun Life Insurance Money Market Instruments
Proportion of allocating the fund in these options, vary according to the needs and fund requirements of policyholders. The most important thing to be noticed here is that this portfolio is decided, based on the regulations of IRDA. Performances of these funds are rated by the rating agency-CRISIL. All the 12 funds by BSLI are described below along with their respective Asset Allocations.
Objective: The primary objective of this fund is to provide Capital Protection, at a high level of safety and liquidity through judicious investments in high quality short-term debt. Strategy: Generate better return with low level of risk through investment into fixed interest securities having short-term maturity profile. Asset Allocation: SECURITIES Corporate Debt Money Market Instruments HOLDING 59.57% 17.97%
Birla Sun Life Insurance TOTAL 100.00%
Corporate Debt Money Market Instruments TOTAL
Objective: The objective of this fund is to achieve value creation of the policyholder at an average risk level over medium to long-term period. Strategy: The strategy is to invest predominantly in debt securities with an additional exposure to equity, maintaining medium term duration profile of the portfolio. Asset Allocation: SECURITIES Government Securities HOLDINGS 10.67%
Birla Sun Life Insurance Corporate Debt Equity Money Market Instruments TOTAL 39.04% 23.44% 26.85% 100.00%
10.67% Government Securities Corporate Debt Equity 39.04% Money Market Instruments
Objective: This fund option is designed to build the capital and to generate better returns at moderate level of risk, over a medium or long-term period through a balance of investment in equity and debt. Strategy: Generate better return with moderate level of risk through active management of fixed income portfolio and focus on creating long term equity portfolio which will enhance yield of composite portfolio with low level of risk appetite.
Birla Sun Life Insurance Asset Allocation: SECURITIES Government Securities Corporate Debt Equity Money Market Instruments TOTAL HOLDINGS 13.90% 45.41% 18.63% 22.06% 100.00%
13.90% Government Securities Corporate Debt Equity
Money Market Instruments
Objective: Helps to grow the capital through enhanced returns over a medium to long-term period through investments in equity and debt instruments, thereby providing a good balance between risk and return. Strategy: To earn capital appreciation by maintaining diversified equity portfolio and seek to earn regular return on fixed income portfolio by active management resulting in wealth creation for policyholders. 53
Birla Sun Life Insurance Asset Allocation: SECURITIES Government Securities Corporate Debt Equity Money Market Instruments TOTAL HOLDINGS 14.35% 39.40% 32.69% 13.57% 100.00%
H O L D IN G S
14 .3 5% G o ve rn m e n t S e c u rit ie s C o rp o ra t e D e b t E q u it y
M o n e y M a rk e t In s t ru m e
CONCLUSION Our training was a very enriching experience for us, we have learnt so many things, and we got insight into the insurance world. Insurance sector today playing a major role in everyone’s life lot more than ever before life currently there is a comprehensive range of products covering each type of policy available in the market. We have studied various insurance plans covered under BSLI, and their features. BSLI also gives various Riders, which provides extra benefits to the customers. And we came to know about the pioneering features of BSLI, like sales procedure, SIP, etc. While most insurance plans block money for certain period of time, a BSLI plan gives the double benefit of life insurance along with easy liquidity through lump sum cash. Birla Sun Life Insurance (BSLI), one of the largest private life insurers, is gearing itself to take advantage of the vast rural opportunity that has opened up as a result of the revised definition of rural areas by the IRDA. Over the last four years, BSLI has painstakingly built its rural infrastructure to create a cost-effective distribution network across the country. Our training gave us corporate exposure, and helped in improving our communication skills. We learnt to deal with customers, we made them
aware about various plans, and their respective features, even helped them to select the best plan as per their requirements.
1. Competition from public sector and foreign banks remains a key challenge for private sector banks. They need to reorient their staff and effectively utilize technology platforms to retain customers. 2. They have to update their portfolio timely. 3. Birla Sun Life Insurance Ltd should have proper division of departments under heads. 4. Birla Sun Life Insurance Ltd should have more pension plans. 5. Birla Sun Life Insurance Ltd should have more children plans, and more help line plans 6. They should provide more information to the customer so that they become more aware about insurance
1. www.birlasunlife.com Dated 13/6/08 Time 3:30
2. www.Paisawaisa.com/LifeInsurance Dated 13/6/08 Time 4:00
3. Company brochure 4. Company brochure/ GOLD- PLUSII PLAN/ Ver 01/12/07
5. Company brochure/ Classic Life Premier/ Ver 8/9/07
1. Do you make investments? A.Yes B.No 2. How much you earn annually? A. Below 50,000 B. 50,000-100,000 C.100, 000-1, 50,000 D. Above 150000 3. Do you know about insurance? A. Yes B. No 4. Do you know about BSLI? A. Yes B.No
5. How did you came to know about it? A Newspapers B. Online C. Personal Reference D. Other
6. What assets do you own? A. Personal house B.Car C.Credit card
7. Where would you like to invest? A. Mutual Fund B.Stocks C.Real estate D.Insurance
8. What would u like to insure? A. Vehicle B.Life insurance
9. Which insurance plan of BSLI are you interested in? A.Saral Jeevan B.Gold Plus II C.Platinum Plus D.Classic Life Premier
10. How do you rate our plans? A. Average B. Good C. Excellent
Why Compare Life Insurance with us?
Nothing is more important to a person than the feeling that their family is financially secure - at all times. Though frightening, the thought that your family will not be financially burdened in case of your un-timely death, gives you and your family some respite to know at all times that YOU have planned for such an event too. Hence it is very important that you get the best life insurance policy for yourself - both in terms of price and features. At MyInsuranceClub.com, we display the list of life insurance plans that are available based on your requirements. You can compare life insurance policies - both price and the features and select the life insurance policy that suits your requirements the best. Life insurance quotes from different life insurance companies are displayed - the policies with the cheapest premiums being displayed on top. We do not sell insurance and hence we do not have any incentive to push any particular insurance policy to you. We take pride in the fact that we could help you select the best life insurance policy.
About Life Insurance
Why is Life Insurance so important?
Life insurance is usually taken by the earning member(s) of the family to ensure that in case of their death, and hence their source of income ceasing to exist, the dependent family members would have a lump-sum amount to fall back on. So by paying a small amount every year the earning member of the family can ensure that the future of their loved ones is absolutely secure from a financial point of view. So in the event of death of an insured person, the nominee of the policy would receive an amount called the sum assured which can then be used effectively to plan for their future. Life insurance is absolutely critical for everyone irrespective of the amount of income you currently earn, unless you have saved enough to ensure that your family can comfortably live with the savings alone – not
everyone can manage to do this even with high salary and income levels. Imagine living in a great house you have taken on loan and your family not being able to live in it, just because they do not have the income to keep paying the monthly EMIs of the home loan!
Direct Benefits of taking a Life Insurance Plan
Provides for Loss of Income - In case of the policy holder’s death, the dependents will suddenly be left without a constant source of income. The future requirements of the dependent members too would be hugely compromised with them having to settle for options which are not as good as you would have wanted if you were around. With a good amount of life insurance cover you can ensure that your family is not left high and dry along with emotional trauma of your absence. It is one of the most important reasons for taking a life insurance policy. Protects your Assets - In your absence, your family should not have to resort to selling the assets which you accumulated with your hard work. In the event that there is no source of income your family would have to sell assets like land, home, vehicle, jewellery which you had so lovingly purchased. The comforts you wanted to provide to your family should not be taken away from them to make do for their day-to-day living. In case you are adequately ensured, all your loans and your family’s financial future would be well taken care of. Financial Planning - Life insurance policies can also be taken for sound financial planning depending on your requirements and risk appetite. For the conservative investors there are a host of traditional policies like money back insurance policies and endowment plans to provide income to you at regular intervals of time. The more market friendly investors can choose ULIPs (Unit Linked Insurance Plans) to plan their future. There is a higher element of risk involved with ULIPs but the gains too can potentially be on the higher side. Ideally each individual should assess their requirements and choose their investment options and time horizon. Tax Savings - One of the key reasons, people buy life insurance is to avail tax benefits under section 80C up to the limit of Rs. 1,00,000 annually. Money paid as premium of Life Insurance policies is exempted from income tax and the proceeds from a life insurance policy on maturity also get tax exemption under section 10(10D) of the income tax.
Know more about Life Insurance
Life Insurance is quite an important aspect of one’s financial planning. It is critical to know all you can about Life Insurance before purchasing the policy. Check out some of our links which may be useful to you
Types of Life Insurance
Term Insurance Policy Child Life Insurance Policy Whole Life Insurance Policy Pension (Retirement) Insurance Policy
Other Useful Links
Life Insurance Companies in Visit our Life Insurance India Blog Who should take Life Insurance? Riders in Life Insurance policies
Endowment Insurance Unit-linked Insurance Plan Policy (ULIPs) Money Back Insurance Policy
Birla Sun Life Insurance
• • • •
Life Insurance Plans from Birla Sun Life Insurance
Click on the individual plans to read the Product Details. BSLI here
Sun Life Insurance.
stands for Birla
Term Insurance Plans
Birla Sun Life Protector Plan Birla Sun Life Protector Plus Plan Birla Sun Life Premium Back Term Plan Compare Term Plans
Unit Linked Plans (ULIPs)
Birla Sun Life Platinum Advantage Birla Sun Life Dream Endowment Birla Sun Life Foresight Plan Birla Sun Life Wealth Secure Plan Birla Sun Life Classic Endowment Birla Sun Life Wealth Max Plan Birla Sun Life Classic Life Plan Birla Sun Life Dream Life Plan Compare ULIPs
Birla Sun Life Bachat Endowment Plan Birla Sun Life Rainbow Plan Birla Sun Life Guaranteed Bachat Plan Birla Sun Life Money Back Plus Compare Endowment Plans
Birla Sun Life Immediate Income Plan
Money Back Plan
Birla Sun Life Bachat Money Back Plan Compare Money Back Plans
Whole Life Plans
Birla Sun Life Vision Plan
Birla Sun Life Bachat Child Plan Birla Sun Life Classic Child Plan – ULIP Birla Sun Life Dream Child Plan - ULIP Compare Child Plans
Birla Sun Life Universal Health Plan Birla Sun Life Saral Health Plan - ULIP Birla Sun Life Health Plan
Term Plans: BSLI Term Plan, BSLI High Net Worth Term Plan Retirement Plans: BSLI Secure 58 Plan BSLI stands for Birla Sun Life Insurance
About Birla Sun Life Insurance Company
Birla Sun Life Insurance Company (BSLI) is a joint venture between the Aditya Birla Group and Sun Life Financial Inc of Canada and was established in India in the year 2000. Aditya Birla Group has established a strong financial presence in India through Aditya Birla Financial Services Group with expertise in a wide array of products which include wealth management, consumer finance, broking, lending and private equity. The Aditya Birla Group is common and trusted name in India with decades of presence in sectors ranging from cement, metals, textile, telecom and retail business to name a few. Sun Life Financial is a Canadian based financial services conglomerate with a major chunk of its business in theinsurance domain with a history of over 140 years and hence provides the much needed expertise to this joint venture in India. Birla Sun Life Insurance Company has a vast distribution network of almost 600 branches across India reaching out t more than 1500 towns. The already established companies of the Aditya Birla Financial Services Group give it the expertise and reach to service and add more consumers to the life insurance business. The company has a wide array of life insurance products catering to all aspects of a person’s life from traditional plans to unit linked market plans. They have had Virendra Sehwag and Yuvraj Singh as their branch ambassadors endorsing life insurance products of Birla Sun Life.
LATEST QUARTERLY RESULT
Quarterly Report For The Quarter Ended 29 February 2012
Financials Archive Financial Statement (3573 KB)
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Unaudited Condensed Consolidated Statements For The Second Quarter Ended 29 February 2012
Unaudited Condensed As Of 29 February 2012
Review of Performance For the quarter ended 29 February 2012, the Group achieved revenue of RM34.44 million and a profit after tax of RM0.22 million, compared to a profit after tax of RM0.24 million for the corresponding quarter last year. The performance of each operating segment is as follows: Precision stamping & tolling segment This segment recorded a revenue of RM56.91 million and a profit of RM4.15 million for the financial period ended 29 February 2012 as compared to a revenue of RM61.50 million and a profit of RM4.58 million for the corresponding period last year. The decline in revenue was mainly due to slowdown in customer order particularly for components for LCD TV and panel TV. Japanese TV makers are facing stiff competition from Korea and Taiwan. Printed circuit board ("PCB") & module assembly segment This segment recorded a revenue of RM20.80 million and a profit of RM1.50 million for the financial period ended 29 February 2012 as compared to a revenue of RM17.98 million and loss of RM0.35 million for the corresponding period last year. The increase in revenue was mainly due to increase in assembly of complete audio sets. However, due to volatile market conditions, this trend may not continue in the upcoming quarters. Fabrication & forging segment This segment recorded a revenue of RM4.81 million and a loss of RM0.24 million for the financial period ended 29 February 2012 as compared to a revenue of RM6.11 million and a profit of RM0.23 million for the corresponding period last year. The decline in revenue was mainly due to slowdown in customer order from steel forging parts for automotive industries. Current Year Prospects The Board foresees the current year's prospect to be challenging due to the uncertain global economics environment. Nevertheless, the Group will continue in its effort to reduce costs and improve productivity.
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As At 30 December 2011 Authorised Share Capita Issued and Paid-up Capital Type of shares Voting Rights : : : : RM250,000,000 RM49,000,000 Ordinary Shares of RM0.50 each One vote per ordinary share
Distribution Of Shareholdings
e: * Less than 5% of Issued Shares ** 5% and above of Issued Shares
List Of Substantial Shareholders' Shareholdings
(*) Deemed interest through their substantial shareholdings in Esteem Role Sdn Bhd pursuant to Section 6A(4) of the Companies Act, 1965.
List Of Directors' Shareholdings
Not e: (*) Deemed interest through his substantial shareholding in Esteem Role Sdn Bhd pursuant to Section 6A(4) of the Companies Act, 1965, and by virtue of the shareholdings held by his spouse and child in the Company. (**) Deemed interest by virtue of the shareholding held by his spouse in the Company. (***) Deemed interest by virtue of the shareholdings held in Esteem Role Sdn Bhd, held by spouse and child in the company.