Garbage results, garbage company. There u go. Should change the biz from insurance to investment co. All profit come from investment. Core biz loss making.
Based on AirAsia reported robust passenger traffic, Tune Protect is expected to report a better QR next month.
RHB Investment Research Reports Tune Protect Group - The Long-Awaited Recovery Year
rhbinvest Publish date: Tue, 16 May 2023, 06:30 PM Tailwinds from the return of travel. The widespread recovery of global travel bodes well for TPG and its travel partners in Malaysia, Thailand, and the Middle East. Most of the group’s Malaysia travel exposure is via its related company AirAsia, which reported robust passenger traffic in 1Q23 (tripled YoY, +13% QoQ). Feedback from management suggests that the take-up rate for TPG’s travel insurance policies from AirAsia passengers is now at c.12% – up from a single-digit average before the pandemic. For its regional exposure, the group has secured multiple airline partnerships (eg Bamboo Air, Salam Air) over the past few years. We believe the return of travel contributions domestically and regionally should help the group achieve its target of double-digit YoY growth in net written premiums (NWP) for FY23.
Insurance premiums collected are mostly invested to generate income, that is what every insurance company will do. Group’s profitability in 2Q23 was supported by an increase in profit after tax to RM11.2 million, growth of more than 100% Year-on-Year (“YoY”). ******** Next QR is expected to be even better with the commencement of collaboration with Vietjet Air from 5th of July 2023.
Wrong, the investment income only applied to life insurance for asset liability matching. General insurance as Tunepro should rely on the core insurance profits rather than quick gain on investment for their kpi. TunePro investment track record also very poor with huge losses on investment in previous years.
Core insurance biz is very competitive with many international insurances company offer better benefits and rates. Check it out urself.
—— StartOfTheBull Insurance premiums collected are mostly invested to generate income, that is what every insurance company will do. Group’s profitability in 2Q23 was supported by an increase in profit after tax to RM11.2 million, growth of more than 100% Year-on-Year (“YoY”). ******** Next QR is expected to be even better with the commencement of collaboration with Vietjet Air from 5th of July 2023. —— 12 hours ago
Most insurance companies generate revenue in two ways: Charging premiums in exchange for insurance coverage, then reinvesting those premiums into other interest-generating assets.
Take GEICO as an example the second largest auto insurance company in U.S. Their top line growth in tandem with the investment growth since their inception many years ago.
Without top line growth the float money for investment income in also limited.
Tunepro top line has been declining since few quarters back despite various innovative new products launched by them.
Share price indicating investor are seeing the inability of their management to generate higher top line.
History is somewhat important but future is more significant. I will give them a little more time to see whether their core biz revenue and income will keep increasing after COVID-19 and borders reopened.
MRFS 17 also affected insurance company like tunepro
Gen2, yes, it is affecting every listed insurance company. But my opinion is we must be clear on the incident timeline, for example COVID-19, borders reopened, discontinuation from Perlindungan Tenang scheme and fully exited a low retention large corporate account.
These incidents affected the revenue and growth of company. Insurance company is not like casino & tech company. It also cannot compare with insurers in HK who can attract mass mainland customers. The market in Malaysia is limited. That's why after borders reopened, company is expanding to overseas especially Asean countries. This takes time.
For the past few quarters, I'm happy to see this company is turned around and the profit margin is improving. The next thing is to grow the biz. Again, this takes time.
According to Vietjet, it safely operated 36,000 flights and transported 6.8 million passengers in Q3, including 2.3 million international travelers, an increase by 10 per cent over the third quarter of the pre-pandemic 2019 and up to 127 per cent year-on-year.
Assume there is RM 1 profit per passenger, this may translate to additional profit of RM 6.8m for tune protect
You are correct yfchong.. Ini tune, Sampai Tua kakak.. I sold more than a year ago at a profit. Hmmm, still 40 sen saja....kikikiki... But who knows if their strategy work out. Then in a year or 2, may see some low lying fruits . Good luck yfchong. I may relook at this stock...
New IPO: The onshore and offshore support services provider for the O&G industry, Steel Hawk Bhd aims to list on the Ace Market!
MQ Trader 2904 views | 2 d ago
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New IPO: The largest mini-market player and a leading groceries retailer in Malaysia, 99 Speed Mart Retail Holdings Bhd aims to list on the Main Market!
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
donnybelowski
193 posts
Posted by donnybelowski > 2023-05-25 19:13 | Report Abuse
Garbage results, garbage company. There u go. Should change the biz from insurance to investment co. All profit come from investment. Core biz loss making.