I've been a long term collector of MBSB, dividends has been pretty awesome.
Current q3 earnings are good as well.

Epf probably rebalancing portfolio given > 50% ownership. Plus midf long term impact still wait and see, although q3 earnings is a right direction since no news of them selling anything.

Epf probably lowering exposure to the glut in condos and property right now and associated loans.

Interesting volume on the bounce. Need more for true movement upwards

They don't know how to compete with new age direct selling like xmegami social media selling.

But basically same thing.

Najib zamry very smart. 3rd quarter profit gempak! Candlestick Ada gap!

Lol. Market cap only 200mil now. Easy acquisition target.

Not as confident as good123.
If nothing else changes hitting 0.18 - 0.21 is quite easy at current momentum.

0.28 cents, i see the logo missing from wisma capital A..

In theory should do better with more flights. But I'm betting with TF going for retirement and recent manoeuvre on Airasia X and AirAsia, there's potentially a delisting/merger type of activity with Move Digital sdn bhd.

TF gets to make another chunk of change

Ya. If I read the LPI news would have sold earlier. Feels like family members wanna get more money out of pbb

Dividend 3 cents for 65 cents share. Not bad.

Or worse case scenario 0.01 cents down every day with 100 reading days left. And ah Beng sells 600k shares every day (himself 300k, and the company another 300k) daily

So we end the year at 0.26 cents?

New CEO is current CFO and previously AirAsia CFO for 5 years and Ex consultant background.

From the little linkedin data seems like a very hardworking person that's very serious. But lacks charisma to be CEO.

A cfo as CEO is usually OK for insurer. More control.

But can be bad if cannot lead distribution. Alternatively it's can be a sign that they'll take it private.

Ah Beng selling again. 300k shares everyday. Likely do it until end of the year.

See everyone at rm0.76

Hmmm... Ah Beng slowing down dumping

The PP is interesting. Makes the books look good as it's to clear up debt

https://luminews.my/news/1977893

Coupled with the Westport contract and ongoing government contract with APEX.

Seems like being ribbon-tyed to be sold.

If they wanted to privatise, just buy at lowest point la....

@shogun86 pump and dump.
Never bothered to spend money on innovation or growing market share

Topline is straight-line declining from 2014

Will be money losing in about 3 years.

Just saying. classic type c business

Ah Beng cashing out all his profits like what all good Chinamen will do. You wanna go long, go with Indian owner businesses. They tend to have multi generational ambitions and strength

PBBank used to be strong. But their gradual cost cut and siloed culture with old ppl managing the company means they can't compete in attracting new customers.

With new Chinese gen Z and milleneals they are also a lot less Chinese brand conscious. So the company will slowly lose market share.

They need to diversify income stream and partner. On top of that spend more on marketing dollars to win in the highly saturated market.

Not to mention digibanks throwing money to acquire customers

Looks like a swipe on tenang vouchers




https://www.linkedin.com/posts/tonyfernandesairasia_first-time-with-a-real-life-snake-met-many-activity-7188127789705846785-lBDu?

The tenang vouchers. As outside person looking in; also likely due to pressure to meet kpi. I’m guessing there’s incentives that led to agency like behaviour from the team.

Being in corporate for 3 decades now. The lesson learned is, if there’s a incentive based KPI, there’s bound to be a scammer that can bring down the company due to greed.

Tunepro before the current trade and industry minister was ceO had a super low cost base. Server room was practically a bunch of PCs and everything was auto-opt-in. Making money like mad. Then listing came; and empire building era under the lady ceo. That’s when the cost base went nuts. For such a tiny outfit; the ceo needed a head of strategy and head of distribution to manage the other channel heads. That’s just recipe for disaster.
Aside from that rohit’s hiring was a huge bet for digital distribution.
Digital distribution can be just as expensive as agency given spend on digital partnership; non digital partner distribution, search keyword, ; social media personality (Tunepro didn’t even invest there) etc.

Except you lower the risk of dodgy agency behaviour scamming the company of commissions

Changing topic a bi. That’s why I sense BNM’s noble idea of targeting B40 with digital insurer license will fail.
Only sufficiently large incumbent insurer can take the losses; or at least can leveraging marketing spend for 2 purpose.

On new group CEO.
If it's new from the street - then divestment chances are lower.
If the new CEO is promoted from within, then there's higher chances the protect will be divested from capital A.

Collecting at 0.25 upside potential to be sold.

The digital strategy has failed.
Lost hundreds of millions to buy distribution but not substantially breaking even.

New CEO will be hired to do 2 things only

Pivot back to agency. Which needs a ton of cash. Or doubledown on more marketing and digital channel distribution acquisition spend.

Either way, it's a dark black hole.

Average price adjustment only 0.78 based on current price of 0.75.

Wondering why lim wee chai needs more shares from other owners

Despite q4 losses. The company also issues decision to buyback up to 10% paid up capital.

This shows how inward topglov has become in the leadership as they age.

Instead of spending the billions on growth, acquisition or even spending on Technology and analytics to lower cost per unit and energy, instead of spending on r&d for more higher margin high grade medical products they spent the billions on share buy back.

Verdict - sell.

Other recommendations.

Fire the board of directors for poor stewardship to agreeing to buy backs

The warchest during COVID was there to specifically fatten and broaden the wall against competition.

Not their wallets.

Now good look topglov shareholders including the family. Hangus paper money

The CEO and CFO should both resign.

https://www.theedgemarkets.com/article/top-glove-sits-rm860-mil-paper-loss-massive-share-buyback

Hard to turn to black unless they cut cost further. CEO very adamant on digital partnership distribution.

The margins on that channel are razor thin. So the only way to be green is super low cost base like the days of tune insurance pre-IPO.

One small office and fire half of EXCO

The family seemed to have given up defending the shares. They've used up probably 30-50% of dividends gained last year.


One mistake they didn't do was using the profits to invest enough on either stopping or acquiring competitors and reinforcing supply chain. Make it hard on upstarts

Secondly on more high end rubber based products and markets that need them .

Just reprice it back to pre-pandemic performance and expect as such. senang

wow.Superbull88 is psychic!

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.

what's interesting is KWSP and KWAP is buying PADINI shares. And since they're buying the shares will likely continue to go down further.

It's the same with BURSA, KWSP was selling loads of BURSA shares when it went all the way to RM8++

my question is who's bbuying up UEM since EPFexited

Share buy back is just a silly trick to bump up share price and lower the total dividend payout (if it ever announce one)

TunePro just need to focus on whittling down the middle management and all will be fine. Am still waiting for them to chop some of the distribution channel heads and the strategy head.

best move ever to consolidate the CFO office!

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

@general t; you paid attention, that's good :)

Another example of having no strategy is making no effort for marketing scanning.

PErsonal Accident insurance actually excludes "motorcyclists".
Immediately it becomes the most useless PA insurance ever.

At least Takaful Malaysia smart enough to say exclude only "dispatch riders".

Allianz even better, specific insurance for Motorcyclists. Cause they have smart people to know that motorcyclists are higher risk, so therefore premiums and cover needs to commensurate the risk.

So seriously. A CEO who makes 2 mil a year. a HEad of strategy who don't seem to do any market scan before introducing new products.

Why is Tan Sri Fernandez keeping all these dead weights!? Is he blind, deaf or no one is telling him the truth?

Worse than no strategy; you have a product called "Sports+" with a marketing blurb "Get Sports+ extreme sports protection" but all of the below is excluded.

a) Professional Sports Persons
b) All forms of martial arts such as boxing, wrestling, karate.
c) Aerobatics flying, sky surfing, wing suit flying.
d) Base jumping.
e) Cliff jumping, cliff diving and/or coasteering.
f) Expedition to generally inaccessible and remote areas of a country or areas previously unexplored.
g) American football, all forms of rugby, aussie rules and the likes.
h) Heli-skiing
i) Rock or snow or ice or alpine climbing performed solo, freestyle or climb without ropes and all forms of
solo climbs.
j) Sailing and/or yachting offshore.

What else is then extreme sports? Weekend badminton with uncles ka?

I tell you guys, Fire the head of products, must be totally out of touch with common sense.
And for all you know reporting to dead weight head of strategy.

If you makan gaji anda still Don't know how to staunch a combined ration above 1, you're seriously not worth to be employed la.

Give me half the CEO gaji and I can sort it out in 9 months.

VSS the useless head of departments and double the salary of working levels that actually do the job !

There's seriously NO strategy to staunch the bleed and grow their pie.

All ratios point to one thing - siloes in management

Fire the Head of Strategy role. Seriously useless for a small company like Tune.
The CEO is either a Strategist or not worth paying RM 2 mil a year .

TuneProtect needs to dig deep and realize that it needs to operate like a startup again.

A management ratio of almost 50% is just embarrassing for 9M 2019

And finally just merge the CIO and COO into 1 person. Cut down cost.

As everything needs to run on IT anyways; and besides, both these characters probably sitting around avoiding accountability of making decisions and driving business forward.

Why am I Pretty sure.

Cause else the management expense will NOT be that high!
and under them is probably an army of "assistants" that attends meetings with them.
And for all you know IT and Operations not working with each other and blaming each other on a daily basis.

So if they can't work together, jusst get rid of them and put in 1 person.

Distribution org structure is so inefficient.There's a Group Head, POS Head, Broking Head and a Chief Agency Officer... OMG.

How can there be so many wankers for such a small Gross Written Premium pie.

Just merge Broking with Group as 1 bos. cut down the salary.
MAke sure Agency and Broking fellas share their leads and get rid of channel base rivalry.
IF they're silo makers - fire their ass.

Back in 2012 the Management expense ratio was just a quarter of what it is today.

Seriously... too many dead weights!

Management Expense as a % of Gross Written Premium is higher than other insurers.
Somebody is sitting high in their chairs without doing much work. Why?

No noticeable advertisement presence.
Not even an link into MyEG for donkey years.

All of that doesn't make sense for a supposedly digital company with priority sales leads from AirAsia where sales is made with mouse clicks.

Seriously.

1) Fire the distribution head - Gross Written Premiums keep shrinking. Boost it up
2) Fire the Operations head, CIO and CFO - Please push down Management expense to <30% of GWP it's now 40+% .
3) combined ratio is too close for comfort at 97%. Push it down to 95%

For a digital company with high expense ratios it's basically 2 things
-> SOmebody is making money from the IT vendors
-> Too many expensive dead weights in operations, marketing and legal

at this rate tunepro may go through a backdoor acquisiton by another insurer that wants to get listing status

Feels like Tony just scammed everyone but entering the board earlier this year and then resigning again.

Agree with @jeffreyteck. If they really wanna go digital they need proper execution IT people.
All this lame appointments of one personality after another.

there's only one personality in AirAsia group. that's Tony.

Everyone else should be executioners

@crazyhours price will keep dropping and stabilize once the family members pick up. it's heavy dilution for minority shareholders. wait for 2020 Q2 for real profitable numbers to come in due to lowering of non-malaysian limit of rm600k

https://www.businesstimes.com.sg/companies-markets/fortress-minerals-swings-to-us49m-profit-for-fy2019-on-higher-ore-prices-demand it's 4.9mil not 49 in the URL

not bad fortress minerals from 0.20 cents to 0.26 cents

IBHD is a family business la, will always be.

Nice. Someone dropped enough share to hit 30 cents