Tune was on record as saying the crashed aircraft has been reinsured with other insurers, thus its liability is not much. We do not know whether they are other nasty surprises.
Accumulated few lots.. The profit was improved compare with last Q (but no good compare with same Q last year). For me, it is good time to accumulate. The higher claims rate and poorer performance pull down the profit.
Recommendation. We maintain our BUY stance with an unchanged TP of RM2.18 based on FY17 sum-of-parts valuation. Our positive is on the back of the Group has (1) a first mover’s advantage of digital insurance and digital remarketing (2) dominant market share in local travel insurance with dynamic pricing on travel products, (3) various ongoing initiatives for product innovation, customer oriented and channel, and (4) undemanding valuation of PBV and PER of 2.7x and 16.9x.
For me, this company is growing.. 2013 revenue = RM389m, Profit = RM68m, 2014 revenue = RM 443m, profit = RM72m, 2015 revenue = RM 480m, profit = RM 68m, 2016 revenue = RM 516m, profit = RM 79m.. These few days dropping, maybe due to Q-Q result dropped 30%..and TF sold some of his share, investor less confident ??
A huge chunk of profit belongs to gomen now. So, probably no dividend, I think. They did it to the telcos. Now, it is the insurer's turn. It is hard to earn an honest living here.
Hi niki, when I bought my new car, it was insured with Tune. When it is up for renewal, I went to an insurance co with a big signboard "Tune Insurance" at its office. To my disappointment, it is only their agent n this agent is also selling insurance for other insurers. They are not keen to renew my car insurance n instead requested me to go back to my car dealer to renew it.
Well, I gave up n them and went to another insurer other than Tune. I now realize that Tune does not have an office by itself to service its clients. I shudder to think if their client have a claim n all their agent wash their hands off the affair.
luckily the proposed preliminary decision was just 3.6mil which is 1.7% of the consolidated amount for tunepro. Hopefully all the 22 members of PIAM can escape this :|
even if tunepro can't escape from this 3.6mil penalty, with the strong profits in the future + past, they can handle it easily isn't it? does it really the cause the ~15 cents price drop in last week? hmmm
PETALING JAYA: The General Insurance Association of Malaysia (PIAM) said it is disappointed with the Malaysia Competition Commission's (MyCC) proposed decision of a RM213.45 million penalty against the association and its 22 members, for an agreement which it said was reached on a Bank Negara Malaysia (BNM) directive.
MyCC on Tuesday said its proposed decision against PIAM and its members was due to an agreement PIAM and the Federation of Automobile Workshop Owners' Association Of Malaysia (Fawoam) for fixed trade discount rates for parts of certain vehicle makes and labour hourly rates for workshops under the PIAM Approved Repairers Scheme.
In a statement today, PIAM said the association and its members were disappointed with the proposed decision issued by MyCC, as it has always worked in the best interest of the consumer and in full compliance with the directions of its regulator, BNM.
The association noted that the agreement was reached on BNM's directive to resolve significant consumer complaints regarding repair times in the motor insurance industry.
"PIAM sincerely hopes that MyCC will reconsider its proposed decision and the imposition of the financial penalty against its members. We will be obtaining legal advice to defend its position that this was not an anti-competitive agreement," it added.
When I tried to book air asia ticket, it seems that the insurance did not bundle with the luggage and meal, this is different from what been announced where to increase the travel insurance, they are bundling,
It is doing a lot more than just flight insurance partnering with AirAsia. It also have reinsurance business..the general insurance business improved a lot in the past few quarters, however with lower margin. But still, it attracted me :D to find out what it provides: https://www.tuneprotect.com/products/
today is the day!! break the support go further down, or stay at this region? i personally hope it goes down more, hahaha!
if u see in the financials tab it shows 3 0.05 cents dividend for first 3 quarters but when i see the dividend/disclosures tab it shows only one 0.05 cents dividend, sorry for the mistake.
It's okay, everyone make mistake. This can be accumulate, atleast got 3.8% annually. As a insurance base product, take a look at takaful, it might not as well as takaful, but as airasia as a backup for it, the marketcap sure be keep growing.
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....
Junichiro
2,063 posts
Posted by Junichiro > 2017-02-24 11:49 | Report Abuse
Tune was on record as saying the crashed aircraft has been reinsured with other insurers, thus its liability is not much. We do not know whether they are other nasty surprises.