Highlights
KLSE: TUNEPRO (5230)       TUNE PROTECT GROUP BHD MAIN : Finance
Last Price Today's Change   Day's Range   Trading Volume
0.295   -0.005 (1.67%)  0.285 - 0.315  3,454,300
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Overview

Market Cap: 222 Million
NOSH: 752 Million
Avg Volume (4 weeks):3,552,270
4 Weeks Range:0.20 - 0.40
4 Weeks Price Volatility (%):
47.50%
52 Weeks Range:0.20 - 0.765
52 Weeks Price Volatility (%):
16.81%
Average Price Target: 0.58
Price Target Upside/Downside: +0.285
Stamp duty exempted for year 2020

Financial Highlight

Latest Quarter | Ann. Date 31-Dec-2019 [#4]  |  28-Feb-2020
Next QR | Est. Ann. Date: 31-Mar-2020  |  28-May-2020
T4Q P/E | EY: 4.38  |  22.85%
T4Q DY | Payout %: 20.34%  |  89.01%
T4Q NAPS | P/NAPS: 0.74  |  0.40
T4Q NP Margin | ROE: 11.59%  |  9.11%

Headlines

Date Subject
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
10-Jan-2020 Tune Protect - Disposes entire stake in Laka Ltd
28-Dec-2019 2020旅游年·有望带动旅游保险
29-Nov-2019 Stocks on Radar - Tune Protect (5230)
22-Nov-2019 【视频】TUNE保障 旅游年料推高需求
22-Nov-2019 Tune Protect Group Berhad - Looking forward to Visit Malaysia Year 2020
22-Nov-2019 Tune Protect - Earnings Growth Supported by Operational Efficiency
22-Nov-2019 TUNE PROTECT GROUP - Lacklustre Earnings From Lower Topline; Combined Ratio Continues to be Elevated
22-Nov-2019 Tune Protect - 3Q19 Results Not Any Better, But Still Hopeful
14-Nov-2019 Aireen Omar joins Tune Protect's board as Tony Fernandes exits
07-Nov-2019 Stocks on Radar - Tune Protect Group (5230)
23-Oct-2019 Retail Strategy - Budget 2020 stimuli to drive 4Q interest
18-Oct-2019 探预算案催化领域·布局年杪橱窗粉饰·7大首选股可脱颖而出
18-Oct-2019 Stocks on Radar - Tune Protect Group (5230)
17-Oct-2019 Retail Strategy - Budget 2020 Stimuli to Drive 4Q Interest
10-Sep-2019 Tune Protect Group - Anticipate a Stronger 2H19
22-Aug-2019 【视频】TUNE保障 半年业绩符预期

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.
 
Victor Yong Profit UP good

5230 TUNEPRO TUNE PROTECT GROUP BERHAD
Quarterly rpt on consolidated results for the financial period ended 31/12/2019
Quarter: 4th Quarter
Financial Year End: 31/12/2019
Report Status: Unaudited
Submitted By:
Current Year Quarter Preceding Year Corresponding Quarter Current Year to Date Preceding Year Corresponding Period
31/12/2019 31/12/2018 31/12/2019 31/12/2018
RM '000 RM '000 RM '000 RM '000
1 Revenue 125,832 140,419 500,801 566,122
2 Profit/Loss Before Tax 12,285 9,588 61,648 55,070
3 Profit/(loss) attributable to ordinary equity holders of the parent 10,638 10,796 50,677 49,505
4 Net Profit/Loss For The Period 11,360 11,205 58,051 52,918
5 Basic Earnings/Loss Per Shares (sen) 1.42 1.44 6.74 6.59
6 Dividend Per Share (sen) 0.00 0.00 3.00 3.00
As At End of Current Quarter As At Preceding Financial Year End
7 Net Assets Per Share (RM) 0.7400 0.7000
Remarks:
You are advised to read the entire contents of the announcement or attachment.
To read the entire contents of the announcement or attachment, please access
the Bursa website at http://www.bursamalaysia.com
28/02/2020 6:50 PM
junnian0814 I quite amaze when aa & aax result like shit but tune still ok. Although their Revenue drop but they successfully increase the PAT.

Can you imagine what if the 2nd half of the year the revenue increase? 1st quarter we cannot judge because now we have global covid -19 problem. 2nd quarter I believe still will affect a little bit we need to wait till 3rd qr.

After take a look on their result. I will still hold & look for better price to bargain to avr down!
28/02/2020 7:03 PM
Victor Yong Tune Protect registered 9.7% PAT growth for 2019

KUALA LUMPUR, 28th February 2020- Tune Protect Group Berhad (‘Tune Protect’ or
‘the Group’; TUNEPRO, 5230) posted a Profit After Tax (‘PAT’) of RM11.4 million with
Operating Revenue (‘OR’) of RM125.8 million and Gross Written Premiums (‘GWP’) of
RM114.8 million for the fourth quarter of 2019 (‘4Q2019’).
For the 4Q2019, the Group’s Profit Before Tax (PBT) and GWP increased 28.1% and
11.0% year-on-year (YoY) respectively. The Group’s PAT for 4Q2019 increased
marginally by 1.4% YoY to RM11.4 million while the Group’s OR declined 10.4% YoY.
For the full year ended 31
st December 2019 (FY2019), the Group’s PAT ended higher by
9.7% YoY to RM58.1 million, while GWP and OR reduced 10.6% and 11.5% YoY to
RM463.9 million and RM500.8 million, respectively.
Growth in the Group’s 4Q2019 PBT was largely driven by favourable prior year claims
experience, lower combined ratio and higher investment income. The Group’s
management expenses improved to RM35.0 million and combined ratio reduced
substantially from 101.1% in 4Q2018 to 88.8% in 4Q2019.
4Q2019 investment income increased 4.5% to RM8.8 million, while FY2019 investment
income was higher by 8.3% to RM31.5 million.
The Group’s strong GWP performance in 4Q2019 was driven by higher non-motor
business recorded by Tune Protect Malaysia (TPM), the Group’s Malaysian General
Insurance subsidiary.
“The Group’s commendable PAT recorded in FY2019 was a result of our GAIN
transformation strategy and ongoing efforts to improve operational efficiencies,” said
Khoo Ai Lin (‘Ai Lin’), Group Chief Executive Officer of Tune Protect.
Improvement in net claims and expenses fueled TPM’s PAT growth
TPM’s PAT increased fourfold from RM1.8 million in 4Q2018 to RM9.2 million in 4Q2019.
Likewise, TPM’s FY2019 PAT rose 61.8% YoY to RM34.1 million, largely driven by
favourable claims experience arising from our portfolio restructuring initiatives, lower
management expenses due to lower impairment and gain in investment income.
28/02/2020 11:38 PM
Victor Yong In 4Q2019, TPM saw improvements in net claims by 44.1% due to favourable claims
experience and lower management expenses by 28.8%. TPM also posted a 11.4% YoY
increase in GWP to RM95.7 million, mainly driven by non-motor segments.
Although TPM recorded decline in GWP for the full year 2019, its GWP mix is heading in
the right direction stemming from our aspiration to grow the preferred segments. TPM is
working towards achieving the optimal portfolio mix of Motor (below 35%) and Non-motor
(above 65%), as part of the Group’s strategy to ensure the sustainability and profitability
of its Malaysian General Insurance business.
Expanding our Reinsurance presence in ASEAN
Tune Protect Re (TPR), the Group’s reinsurance arm, recorded a 36.8% YoY decline in
4Q2019 PAT to RM6.2 million mainly due to the change in the intra-group premium
retention arrangements for its Malaysia travel business. The decline is cushioned by the
stronger performance from its three largest travel markets after Malaysia - Thailand, the
Philippines, and Indonesia, in tandem with the growth of its airline partner.
In 4Q2019, TPR’s business in Thailand and Indonesia posted a premium growth of 39.6%
and 34.2%, aided by the Group’s revenue optimisation initiative for AirAsia.
Lower share of results from Overseas Ventures
The Group’s FY2019 overseas ventures declined by 10.4% YoY from RM4.9 million to
RM4.4 million, and this was mainly a result of the switch to opt-in setting on the AirArabia
in-path booking platform.
The impact of the decline is cushioned by the 5.4% growth in travel business for Tune
Protect Thailand (“TPT”), on the back of the positive response to the revenue optimisation
initiative, in addition to the higher revenue from Tune Protect EMEIA’s B2B channels with
policies issued increasing a commendable 48.8% YoY.
In December 2019, Tune Protect EMEIA commenced its partnership with SalamAir, the
first low-cost carrier in Oman, offering travel insurance in four key markets in the Middle
East, namely Oman, the United Arab Emirates, Kuwait and Qatar. There are plans in the
pipeline to acquire more markets in the 2020 expansion trajectory. Based on performance
to date, the Group is already seeing promising results, at this early stage. SalamAir
currently flies to 27 destinations across the Gulf Corporation Council (GCC), Asia, Africa
and the Indian subcontinent.
28/02/2020 11:39 PM
Victor Yong GAIN in 2020 (Go ASEAN, AirAsia Ecosystem, Insurtech capabilities and
National Business)
Moving forward, the Group aims to strengthen its business by exploring more strategic
partnerships or acquisition opportunities in Indonesia, Vietnam and the Philippines while
growing its airline partnerships including the likes of SalamAir.
The Group plans to unlock further potential and synergies with its affiliates including
customer acquisition and cross-selling activities within the AirAsia ecosystem.
The Group is also looking at introducing a mobile apps with self-manage claims function
as part of its turnkey digital insurance enabling platform.
The Group launched several new products in 2019, including Auto Buddy, Business
Shield, Foreign Workers PA and the opt-in feature for motor insurance, Pay-As-You-Drive
(PAYD). For 2020, the Group aims to continue its innovation in developing new products
for consumers - including a new motor insurance product. It also aims to optimise its
distribution channels by targeting at preferred segments of motor and non-motor portfolio
while investing in technological capabilities.
Strong Fundamentals
In the near-term, though the COVID-19 outbreak has impacted the global economy,
particularly the travel and tourism industry, the Group remains cautiously optimistic that it
will regain growth momentum in the second half of the year. Several countries in ASEAN
have announced initiatives to cushion the impact of COVID-19 on the region’s economy
and particularly for Malaysia, the recent budget stimulus announcement to boost the local
travel and tourism industry will help to ease the impact of COVID-19.
The Malaysian economy is also not spared from the impact of the current political
uncertainty which is foreseen to ease once the new government is formed.
Notwithstanding these factors, Tune Protect believes that its transformation initiatives,
including the GAIN strategy which encompasses beyond Travel insurance and Malaysia
market, will help the Group weather the challenges in 2020.
“We have a good spread across multiple lines of business and our fundamentals remain
strong. We believe that the Group is in shape to weather the challenges and is in a
good position to prosper when the travel industry recovers,” Ai Lin concluded.
28/02/2020 11:39 PM
Victor Yong will recover next week :)
28/02/2020 11:39 PM
Victor Yong OTW up after the results :)

Tune Protect and SalamAir in strategic tie-up
CORPORATE NEWS
Friday, 21 Feb 2020


“In line with our aspiration to become the leading digital insurer, we are constantly on the lookout for strategic partnerships to provide digital travel protection, ” said Tune Protect Group’s chief executive officer Khoo Ai Lin.

KUALA LUMPUR: Tune Protect Commercial Brokerage LLC has entered into a strategic partnership with SalamAir, Oman’s first low-cost airline, offering passengers an attractive range of travel protection benefits.

The travel protection products are specially designed for SalamAir travellers, offering benefits such as personal accident benefits, hospital allowance, emergency medical evacuation and repatriation, travel inconvenience and other travel-related benefits.

“In line with our aspiration to become the leading digital insurer, we are constantly on the lookout for strategic partnerships to provide digital travel protection, ” said Tune Protect Group’s chief executive officer Khoo Ai Lin in a statement yesterday.

“With this partnership, the passengers from the European, Middle East, Indian and African region will benefit by the delightful customer experience this home-grown airline offers, with options for extra luggage, seat and meal selections, ” she added. — Bernama
28/02/2020 11:41 PM
Tang Khangseng Show me the money!!
29/02/2020 12:25 AM
shpg22 Next quarter will be worst. Fear of travel has hit the industry. Anyway travel insurance doesn't include pandemic also.
29/02/2020 10:15 AM
junnian0814 ya. it will be worse in 2 upcoming qr but impossible we just look at these 2 qr because most of the sector won't perform well in these 2 upcoming qr so my expectations is drop between 10% - 15% (based on PAT not revenue) if between these range still can hold. If over this I will sell a little bit. If less than these I will buy in because it means that the management able to manage their cost in this bloody hell environment.
29/02/2020 2:23 PM
yfchong Bye bye die liao....
01/03/2020 4:40 PM
Victor Yong reobund soon :)

6:04PM TUNEPRO Financial year end net profit 58.051 million (increased 9.70%)
02/03/2020 9:19 AM
Jeffreyteck Q1 est sharp fall as last Mar is simply too good. TP 0.33 unless bull returns.
02/03/2020 9:53 AM
Victor Yong Great improvement under the new CEO.will recover.good buy
02/03/2020 12:13 PM
Jeffreyteck OMG, even balance sheet was not prepared according to standard format, without classified into current assets and non current assets, current liabilities and non current liabilities. What kind of standard?
05/03/2020 9:51 PM
drkervokian thanks @Victor Yong for the positive news. Unfortunately bottom line is the expense ratios are still too high. As a 60% revenue topline from AirAsia, the cost of operations should not be that high.

Lower the cost and the net profit will be even better. see my post above on who to fire and how to consolidate operations
09/03/2020 1:22 PM
Jeffreyteck Not yet started the momentum to move down.
09/03/2020 3:43 PM
khwong2028 lol hopeless counter
11/03/2020 4:25 PM
firehawk Price =0.325
P/E =4.21
DY =9.23%
NTA = 0.74

what a freak!
12/03/2020 4:17 PM
alexsee this time nobody care about fundamental lah.. just throw whatever you have.. tunepro related to airasia.. airasia business not good, too many flight canceled, so tunepro effected too.. investors scared so, just dump it.. i am waiting 0.25 and 0.2 to average down..
12/03/2020 4:58 PM
chesslim 今天开始,穷人变富人的机会已经来临。
12/03/2020 5:55 PM
KLCI King PE4.4 only woh
14/03/2020 12:53 AM
KLCI King Soon everywhere will be Stocks with PE3~4
14/03/2020 12:54 AM
KLCI King Now is still not the time
14/03/2020 12:54 AM
Jeffreyteck Q1 most likely bad including PE. This few years foreign funds is the winner as they continue selling off.
14/03/2020 10:35 PM
Icon8888 bought 29.5
16/03/2020 10:09 AM
warchest same case as AAX and Air Asia.
16/03/2020 10:29 AM
warchest Q1 will be badly affected due to significant drop in their travel insurance business. Most likely would be a loss
16/03/2020 10:30 AM
iloveamsterdam agreed. travel insurance is the major contributor to their earnings. since tourism and aviation had been badly hampered, it might post significantly reduced or losses in upcoming quarters
16/03/2020 6:01 PM
kasinathan No dividend as cash need to reserve for sustaining opeation.
16/03/2020 6:07 PM
Timinlcw maybe will distribute 3cts , huat ah
17/03/2020 7:52 PM
Timinlcw this 3cts is for the 2019 financial year which was stated in the result of the lasted Q
17/03/2020 7:55 PM
yfchong Well. May be can Q buy until the dust settle.
18/03/2020 9:24 AM
yfchong Hope not one way ticket to holland
18/03/2020 2:35 PM
Orson Chin After This virus happen , I think everyone will buy travel insurance
19/03/2020 2:25 PM
NoHopeMedia Insurance to holland
19/03/2020 7:28 PM
timing_is_everthing market cap not even 200 million can generate 50 million net profit last year
21/03/2020 4:20 PM
timing_is_everthing even-though net profit drop to 30 million still worth 300 million market cap , PE 10 times
21/03/2020 4:23 PM
Jeffreyteck Est Q1 very bad results amidst AA cancellation. At current price of 25, there are more penny stocks worth for a look. There is a penny stock giving 1 sen dividend ex May. Hopefully is not going to holland too like AA.
27/03/2020 10:31 AM
johnbrooks jeffrey, agree with you on this. Not sure if they will need to reimburse any of the cancel flights of AirAsia customers. Anyway with little flights from AA, they will most probably suffer as well in 1H20.
31/03/2020 12:14 AM
jowong7 AA will reimburse cancel flights via points which is usable for future flights. Tune will only reimburse the travel insurance premium paid as pandemic is not under coverage. Covid-19 will hit their travel insurance which contributes 25% of their revenue and 70% of their profit. However, 75% of revenue comes from general insurance which contribute 20mil profit per annum ,couple with interest income from MGS and Bond funds,also in region of 20mil per annum, Tune will stay afloat and might even register small profit I presume.
31/03/2020 11:59 AM
timing_is_everthing good comment , jowong7
31/03/2020 12:15 PM
timing_is_everthing market sentiment very weak , hit 0.26- 0.27 then go back 0.24-0.25
31/03/2020 12:18 PM
timing_is_everthing do not know AGM will approve 2019 dividend 3 cts or not ?
31/03/2020 12:19 PM
sheldon Track record shows that dividends are announced sometime between end April to end May
02/04/2020 12:12 PM
yfchong To save my ass better wait for Q results..... if not sure kena grill
02/04/2020 2:12 PM
sheldon This MCO could be positive for general insurance business. No business = no turnover = no activity = no risk = no claims!
02/04/2020 5:58 PM
timing_is_everthing during MCO , general insurance still can operate
02/04/2020 10:34 PM
yfchong Travel insurance not good....
03/04/2020 12:03 AM
sheldon yfchong Travel insurance not good.... agreed

but car insurance, airplane insurance, fire insurance relatively ok
03/04/2020 10:57 AM


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