Highlights
KLSE: TUNEPRO (5230)       TUNE PROTECT GROUP BHD MAIN : Finance
Last Price Today's Change   Day's Range   Trading Volume
0.31   +0.005 (1.64%)  0.30 - 0.315  847,600
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Overview

Market Cap: 233 Million
NOSH: 752 Million
Avg Volume (4 weeks):613,190
4 Weeks Range:0.30 - 0.34
4 Weeks Price Volatility (%):
25.00%
52 Weeks Range:0.20 - 0.625
52 Weeks Price Volatility (%):
25.88%
Average Price Target: 0.25
Price Target Upside/Downside: -0.06
Stamp duty exempted for year 2020

Financial Highlight

Latest Quarter | Ann. Date 30-Jun-2020 [#2]  |  30-Jul-2020
Next QR | Est. Ann. Date: 30-Sep-2020  |  21-Nov-2020
T4Q P/E | EY: 6.35  |  15.76%
T4Q DY | Payout %: 0.00%  |  - %
T4Q NAPS | P/NAPS: 0.76  |  0.41
T4Q NP Margin | ROE: 10.12%  |  6.43%

Headlines

Date Subject
14-Oct-2020 Mplus Market Pulse - 14 Oct 2020
30-Sep-2020 【行家论股/视频】TUNE保障 违竞争法将上诉
29-Sep-2020 Tune Protect Group - Among 22 General Insurers Fined By MyCC
01-Sep-2020 8 things I learned from the 2020 Tune Protect AGM - Shak Chee Hoi
07-Aug-2020 Tune Protect Group: Key takeaways during AGM on 4 August 2020
03-Aug-2020 【行家论股/视频】TUNE保障 业务短期内可反弹
03-Aug-2020 Tune Protect - Impacted by Travel Restrictions
03-Aug-2020 Mplus Market Pulse - 3 Aug 2020
03-Aug-2020 Tune Protect Group- Still not out of the woods yet for travel insurance
30-Jul-2020 TUNEPRO (5230) Good Quarter TP: RM0.31 - by Top 1 Analyst in i3investor BabyAce 30/7/2020 (CLOSED TP HIT ON 3/8/2020)
29-Jul-2020 Tune Protect Group: Wishlist, can it be fulfilled?
18-Jun-2020 Questions for Tunepro 2020 AGM
27-May-2020 Tune Protect - Earnings From Travel Segment to be in Jeopardy
27-May-2020 Tune Protect Group- Low earnings visibility; gloomy outlook for travel insurance
20-Apr-2020 Technical Buy: TUNEPRO (5230)
17-Apr-2020 Syarikat Takaful Malaysia - Looking Beyond This Year
06-Mar-2020 【行家论股/视频】TUNE保障 股价已反映利淡
02-Mar-2020 Tune Protect Group Berhad - Earnings to be Adversely Impacted by AirAsia Segment
02-Mar-2020 Tune Protect Group - Headwinds ahead on demand for travel insurance
14-Jan-2020 【视频】TUNE保障 售Laka财测不变

Business Background

Tune Protect Group Bhd is a Malaysia investment holding company that underwrites and reinsures non-life insurance products through its subsidiary companies. The group is organized into five major business segments, investment holding, and others, funds managed through collective investment schemes, general reinsurance, life reinsurance and general insurance business. The company has two general insurance businesses, Tune Insurance Malaysia Berhad as well as an associate company, Tune Insurance Public company Limited, located in Thailand. Both offer a range of products while also underwriting travel businesses in their respective countries. The company generates the majority of its revenue from general insurance business segment.
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  10 people like this.
 
Timmy0520 There is one question. I am wondering do Tunepro management has the intention to apply digital bank license?
06/08/2020 8:07 PM
alex there is a gap 0.27 - 0.295 to fill up
06/08/2020 9:53 PM
MoneyShow3 Gonna move in the next few days... Sg flights might resume..it will fly high.
06/08/2020 10:22 PM
Panorama1 Last Call ... BUY :-)
07/08/2020 7:39 AM
Sslee Dear all,
Tune IR reply to my further clarification:
Dear Mr. Lee,

We acknowledge receipt of your questions below requesting further clarification. Kindly note that we will compile the responses to your questions as well as those from our other shareholders which will then be published in our website in due course. We will update you once it is available on our website.

Thanks & regards,

The Investor Relations team


Dear Tunepro IR,
Thank you for sharing with me the answer to my pre-submitted questions with paraphrased clarity and precision.

I had studied the answers given and I think I need to further clarify with the Board or management team on some of the essence of my original questions.

Investment in fair value through profit or loss (FVTPL) financial assets. Allow me to paraphrase:
Question 1: Any organization or governance structure in place to oversee and manage the investment holding function of the Group?
Question 2: Is there an investment committee to meet periodically to evaluate the performance of the investments and whether the investing strategies meet the investment objective? And any policy to cut loss on underperformed investment?

Dividend
Allow me to quote the Board reply, “Our dividend practice is consistent with what was disclosed in our IPO circular. It says and I quote “As part of this policy, we target for a pay-out ratio of not less than 40% of our consolidated profit in each financial year, subject to any applicable law and provided that such distribution will not be detrimental to our Group’s cash requirement.” In addition, any distribution of dividend is subject to our Group’s availability of distributable reserves, contractual obligations and capital expenditure plan.” unquote
So please allow me to paraphrase:
Will the distribution of dividend for financial year end 2019 result in:
1. Against any applicable law?
2. Detrimental to the Group's cash requirement?
3. Against the Group's availability of distribution reserves?
4. Against contractual obligation and capital expenditure plan?

On AA Ecosystem:
Please allow me to paraphrase:
Any plan by Tunepro to leverage AirAsia big data and digital platform to cross sell: Health, Life, Saving and Education policies online to targeted groups?

I am looking forward to the Board or Management team clarification.

Thank you

Best Regards
07/08/2020 8:28 AM
Panorama1 @sslee Spot on & TQVM.
07/08/2020 8:57 AM
warchest https://klse.i3investor.com/blogs/TimelessInvestment/2020-08-07-story-h1511587520-Tune_Protect_Group_Key_takeaways_during_AGM_on_4_August_2020.jsp
07/08/2020 2:54 PM
Panorama1 @ warchest Well Done to keep fellow forumers duly informed and TQVM. With factual information, all of us can trust our own intuition to make proper investment decision.
07/08/2020 4:18 PM
boonwei98 Change CEO again??
07/08/2020 5:05 PM
Ding27 success will happen if new ceo good. seems looking for ceo for many months so hopeful get a good person
08/08/2020 4:43 PM
warchest Fyi, they already got a new CEO subject to BNM's approval. It might help to propel Tune into another levels of their digital transformation. Stay tune
09/08/2020 11:01 AM
Jeffreyteck 3 years ago new ceo price at around 1.40 then if not mistaken. Anyway it is always good to have news in particular from tf mouth for trading play.
09/08/2020 8:24 PM
MoneyShow3 Good news, Russia announced the first Covid vaccine, soon China and UK would too. If boarders start opening up tune Pro will fly high again. Don't forget customers will quickly start booking flights and travel again for next year holidays. When they rush to book, they'll buy insurance at that same time.... Back to 60sen soon.
11/08/2020 10:31 PM
MoneyShow3 Value investors picking up, tunepro will start building up their cash pool and have diversified into other parts of the insurance protection market. Excited to hold on for capital gains and future dividends.. Expect good future yields
12/08/2020 3:55 PM
Panorama1 @ MoneyShow3 Value investors will start accumulating. Watch it power ahead towards at least the NTA value :-)
13/08/2020 8:58 AM
Hustle MIDF vs AMINVEST are ready to dispose all their portfolio at 0.25 value investor be ready
13/08/2020 3:08 PM
Hustle May be MNRB can get at 0.15 lol
13/08/2020 3:09 PM
Jeffreyteck That certainly is a sweet dream.
13/08/2020 3:53 PM
Hustle Heard that both institute fund manager that subscribed a lot during ipo already get fired
13/08/2020 5:37 PM
Hustle Now they want to break even the lost
13/08/2020 5:39 PM
MoneyShow3 Ipo time rm1+, went to 1.50 quite fast and even touched 2.50 before. Lowest dividend ever at 3sen, highest 5+sen per share.


If the fund managers got fired and they want to trim the portfolio, even better... Hahaha
Buy low sell high....
13/08/2020 10:40 PM
beluga Travel insurance already vanished for now and probably next year too . Other general insurance sector like motor insurance expected to decline further.

https://www.thestar.com.my/business/business-news/2020/08/14/general-insurances-gross-premiums-in-h1-decline

Interest rates is low and expected to stay low for foreseeable future. When interest rate is low, it is not good for insurance companies that usually invest most of its premiums in bonds.

The future is bleak for TuneProtect that derive most of its profit from travel insurance.
14/08/2020 11:12 AM
Davidl Time to accumulate!
14/08/2020 1:29 PM
Hustle Is true I see lots motorbike get block at road side due to no roadtax
14/08/2020 3:04 PM
Jeffreyteck Attracted by its low price vs 3 yaes ago but confused by its latest Q good results amidst travel banned and non performing ceo resignation (at least from investors perspective bases on share price). Anyway, chief traders will determine whether to push instead of fundamentals.
14/08/2020 8:11 PM
Jarklp The combined ratio in 2Q was more than 100%. Tune has the advantage over other companies with travel and personal accident insurance because of Air Asia. Travel and personal accident insurance suppose to have low claim ratio. They don't seem to enjoy that even before covid. Their expense ratio is more than 50% of net earned premium... it is way too expensive to operate.

Tune actually looks more like an insurance broker and asset management company. They make their money from "fee and commission" and investment of RM720 net equity...LOL
17/08/2020 6:41 PM
MoneyShow3 That is actually true that the payout ratio is low and they can market the risk to other reinsurer. So essentially earning higher margins. Price up up...
19/08/2020 9:43 PM
thesteward Wah tie up w Agoda more business for tune. Gogo
25/08/2020 12:26 AM
alex 0.38?
26/08/2020 12:14 PM
babyqueen Inching up up and up
26/08/2020 1:42 PM
Davidl Uptrend towards 0.40!
26/08/2020 2:31 PM
Sslee Dear all.
For your information Tune Protect Group’s 9th AGM held on 4th August 2020 Q&A and presentation:
https://www.insage.com.my/Upload/Docs/TUNEPRO/Full%20set%20of%20Q&A.pdf#view=Full

https://www.insage.com.my/Upload/Docs/TUNEPRO/Presentation%20by%20Group%20CFO.pdf#view=Full
26/08/2020 2:43 PM
skl4723 Hi SS Lee, my I know your opinion on tunepro prospect? Btw, thanks for the sharing.
26/08/2020 8:45 PM
Sslee Good morning skl4723,
You can read the below link on insurance companies valuation.
https://klse.i3investor.com/blogs/PilosopoCapital/2018-10-28-story-h1455375686-_CHOIVO_CAPITAL_The_Art_Of_Valuing_Insurance_Companies_and_why_Teh_Hong.jsp

To me Tunepro is cheap enough for me to hold while waiting for Covid-19 to blow over and the restart of travel again
27/08/2020 8:41 AM
skl4723 Tq SS Lee. I agree with u. My only worry is whether AA or AAX can still survive through this pandemic.
27/08/2020 9:44 AM
Hustle They have to immediately sell vaccine only can survive lol
27/08/2020 10:41 AM
Hustle Glove, PPE or condom also can boost eps
27/08/2020 10:44 AM
Hustle Condom air sounds innovative hehe
27/08/2020 10:45 AM
babyqueen High volume.
07/09/2020 3:31 PM
khwong2028 lol Engineer your own dreams
08/09/2020 8:23 AM
Hustle Add Car insurance, dental, medical card sounds progressive
09/09/2020 11:12 AM
Hustle https://www.tuneprotect.com/
09/09/2020 11:14 AM
Orson Chin Dental ?????? Can buy for children le...
10/09/2020 11:47 PM
Jeffreyteck Boat without captain. Next push will be upon announcement of new captain. 3 years curse for new captain. First year, blame previous captain for poor management; second year, undergo restructuring and new business etc, give hopes; third year, still unable to improve, just resign, after all already earned quite sufficient. Lol.
18/09/2020 8:50 AM
Jeffreyteck Fine... Opportunities from volatility. Am R TP 0.25, of course mostly missed. May be should ask any piam members and association management whether they have any direct or indirect interest on workshops.
Nowadays even third party insurance with loading of 150% even without any claims record.
01/10/2020 8:18 AM
ivanlau ------------ quote --------
Stock: [TUNEPRO]: TUNE PROTECT GROUP BHD

May 25, 2020 1:02 PM | Report Abuse

calculate the forward pe , the fair value of TUNEPRO is around 26 - 30 cents
---------- unquote -------

Just refresh my old article to you all, now closing : 0.315 .
04/10/2020 9:59 PM
MoneyShow3 Will start moving up to 40sen again..more demand for piece meal insurance. Coverage vs traditional long term commitment and lock in.
11/10/2020 10:47 PM
Jeffreyteck Goreng on 40 years old new ceo.
14/10/2020 9:03 AM
drkervokian Excellent that they hired a new guy. previous management crap and bloated the company with so many layers as if it's a big old silo company.

Time to cut cut cut on useless dead-weight, attack the cost ratio and to scale expand digitally!

i have a lot of faith in leaders from Indian sub-continent.
14/10/2020 3:18 PM
MoneyShow3 Russia and China vaccine at ph3, travels opening up soon. Travel insurance demand will be in demand.
18/10/2020 8:07 PM


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