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.
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
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.
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.
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.
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
@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
drkervokian No. the topline dropped from RM127mil to RM47mil. Basically not that many new projects. And being very careful given softer and overcrowded market.
I checked out Aesthetica yesterday. 500+ units. Average 550-600per/sq feet at average 1000 sqfeet per unit. Staggered releases with only Block A for now and also to ensure unpopular floors are sold first before releasing higher floors and upper floors.
Roughly within expectations from the growth. Based on trajectory the revenue numbers will be pretty soft this year.
So roughly GDV of RM300mil for Aesthetica. And since only block A this year. Only Rm100-125mil potential upside for this project for 2017 given that we only have 9 months to go for their financial year. Assuming Meritus residensi also another 100-125mil. we'll probably end the year with top line of only ~RM200-250mil (increase it abit) by the end of financial year. at probably 15-18% operating margin or about 30mil.
---- Posted this back in July last year... Top line roughly right. But operating margin way below 15 to 18%. At only ~5%, wonder what they're spending it on.
Tunepro used to run on an exceedingly low cost base out of a dingy office at Lebuh Ampang. Now at Shell tower. And for a digital company hasn't been able to come up with simple means to integrate and expand insurance sales coverage despite having the license.
Just go and check their senior management linkedin profile. all they share are self glorifying visits to Microsoft and Google offices and konnonnya to learn about new innovation. But sounds like sleeping while working and going for holidays cause there's still no tangible outputs.
Tried buying insurance online from their site and it crashed. pitiful execution issue.
YTL are institutional play. so that means -> be friendly with folk in EPF, khazanah for directional swings. posturing wise, govenment has been slowly moving away of this company due to political pressure.
Question is whether YTL is truly a global conglomerate and can make up the short fall from global deals
Just mentioning that have seen manouvres which will pocket major shareholder proxies handsomely.
And yes. Timing is less than practical given stock price is so low.
Their cash position is low. And CEO is overpaid. And with overpaid folks they tend to get 'ideas' like I need more money to BUY/takeover something to grow my business from investment bankers and consultants...
AI lIn's background is from channels relationship. The CMO stint is kinda short with Prudential. And IMHO don't see anything news. Like zero impact.
So to some degree probably says not much operations background. So can't fixed inherent problems in marketing and ops. So a strong warchest could be used to acquire parties that she has worked with while managing the channels or setup some form of incentive schemes to direct otherwise open-ended channels to sell more Tune.
And if you understand insurance you'd know that to increase top line you need the channels.
And with a degree in banking and finance she would have peers in high places whispering...that while stocks may be decimated; Once the numbers come in they will recover. Plus the acquisition will burn a good 2 years into CEO stint. Looks good in resume
Sorry. Didn't get to the conclusion A) cut CEO salary. The business is too easy and the entity is spoonfed by AirAsia. B) fire all those people they call digital officers. Waste money fly here and there see Google and Amazon but still can't transform an essentially online business but just drive cost base up. C) may need to replace the chief investment officer. D) move out of the fancy office near KL sentral and go back to good old startup days.
Then cost base will be better and net profit will be better.
From valuation standpoint although NTA is approx 70 cents But given EPS is approx 6 to 7 cents so the market in general tends to follow EPS. Especially at stock price of Rm1. So I think the price is very attractive. --- Were from the outside so can't tell what's happening in the inside.
Am not saying they are but have seen incidents where folks are selling cause potentially there's gonna be a right issuance coming to increase the low cash base.
Then pickup once stabilized. So try to look at the volume in your indicators after rights. Especially when it's relatively high.
If that's the case that's when dividend will be announced and price will go up. Easy money for major shareholders.