Blog: Tune Protect - Within Expectation

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4 comment(s). Last comment by calvintaneng 2017-02-26 13:58

calvintaneng

54,910 posts

Posted by calvintaneng > 2017-02-24 10:41 | Report Abuse

2 Questions all must bear in mind

1) The crash of QZ8501 AirAsia Plane in Indonesia. How did it impact on Tune's Bottom line. A320 plane is insured to the tune of half a billion ringgit? How much liability will Tune Pro bear? Are all the facts revealed? Or are that also hidden somewhere?

2) Why TF dump Tune shares at around Rm1.40 if Tune is worth Rm2.00?

Junichiro

2,051 posts

Posted by Junichiro > 2017-02-24 23:02 | Report Abuse

In fact, TF has already started dumping when it hit $1.70. The moment, he announced his intention to deal in the shares, it started dropping. I cashed out at 1.62 after seeing the huge number of sellers not seen before the announcement.

calvin, yr mind is as sharp as ever. These 2 questions need to be pondered by retail players.

nikicheong

2,451 posts

Posted by nikicheong > 2017-02-26 12:23 | Report Abuse

calvin, r u sure that Tuneprotect would be insuring the plane itself? Wouldn't that be the responsibility of a larger insurer?

calvintaneng

54,910 posts

Posted by calvintaneng > 2017-02-26 13:58 | Report Abuse

nikicheong,

I think the plane itself was partly reinsured by lloyd & allianz.

But the passengers are definitely the responsibility of AirAsia through TunePro.

According to Airasia's initial pay out for 165 passengers & crew were S$32,000 per person

So S$32,000 x 3.1 x 165 = Rm16,368,000

Thank's an initial sum of Rm16.3 millions on TunePro.

Few more questions are these

1) Did TunePro also insured QZ8501? If so by how many per cent?

2) What is the total claim for each passenger? Rm500,000 each?
More or less?

3) And since AirAsia QZ8501 was flying on a disputed legal date

See

"The agency put to rest speculation that insurance companies would not be responsible for honoring claims after the Transportation Ministry revealed AirAsia had a permit to fly the Surabaya-Singapore on four days of the week, but not the day of the crash. The day of flight, it said, did not play a role in the crash and thus did not affect the insurance liability" http://www.straitstimes.com/asia/se-asia/airasia-flight-qz8501-airline-offers-initial-compensation-to-victims-kin

will Insurance companies try to wash their hands off from further claims.

4) All these questions and more are still left unanswered. How much will it impact on TunePro and AirAsia bottom lines later?

5) What we do know is this. TF has been selling TunePro shares. Lots of them.

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