Posted by skl4723 > 2022-02-25 18:37 | Report Abuse

Out. Loss making

Posted by singkalin > 2022-02-25 18:39 | Report Abuse

Talking bullshit.
Only give false hope.

Posted by singkalin > 2022-02-25 19:30 | Report Abuse

We all being con by Rohit.

Posted by donnybelowski > 2022-02-25 19:37 | Report Abuse

Kakakkaka. Bomb!!!!

____

singkalin We all being con by Rohit.
25/02/2022 7:30 PM

Posted by skl4723 > 2022-02-25 20:01 | Report Abuse

None of qtr before 2021 making loss. This 2021 already 3 qtr making loss. What happened?

Posted by Pinky > 2022-02-25 20:20 | Report Abuse

Auditor kena conned? Or auditor u con ppl this time hahaha

Posted by The_JQuestion > 2022-02-25 20:33 | Report Abuse

U see ppl talk about nonsense RM 1 RM 2 can ignore la he is dreaming i wish i can ignore some of these users ...

Posted by auditorandconsultant > 2022-02-25 21:08 | Report Abuse

其实net claim 明显减少很多了，如果跟去年比较

cash 还是有比去年增加了将近1倍

负面在于，fair value losses and share. of losses in associate

after performing normalisation of financial performance, 我还是可以接受这个成绩。

毕竟今年是多事之秋，delta, omicron 等等

Posted by auditorandconsultant > 2022-02-25 21:10 | Report Abuse

My team and I will hold for long term

No worry at all. 罗马也不是一天造成的

As per Rohit, his plan is for 2021 till 2023

We will hold and wait for few more years...

Not worried at all

Posted by skl4723 > 2022-02-25 21:15 | Report Abuse

Appreciate your view. Fair value losses is acceptable as this is macro factor. But just don't understand the share of losses in TPT. Would be better if Mr CEO can clarify that. Is that one off and potentially repetitive?

Posted by skl4723 > 2022-02-25 21:15 | Report Abuse

Also how much losses due to flood?

Posted by skl4723 > 2022-02-25 21:17 | Report Abuse

And all long term bond converted to short term already?

Posted by auditorandconsultant > 2022-02-25 22:21 | Report Abuse

https://www.youtube.com/watch?v=W69eGw-uWxk

Look at what we could expect from. Tunepro by 2023

Posted by skl4723 > 2022-02-25 22:53 | Report Abuse

Very good. That's what we investors wish to get from management, communication and information transparency.

Posted by Mystery55555 > 2022-02-25 23:02 | Report Abuse

Very potential la tunepro.

Posted by silentWolf > 2022-02-25 23:56 | Report Abuse

hi @auditorandconsultant ,reopening of border will benefit to tunepro? NTA 0.75 , i just can say this counter not suitable to short term trader..Q1 2022 will be better...hope can get some at below 0.40..

Posted by auditorandconsultant > 2022-02-26 00:35 | Report Abuse

@silebtWolf,

Probably, you could get around 0.395/0.390 because the sentiment is invitable when most retail investors just look at the financial statements without doing analysis

You are right that Tunepro is not suitable for short term trader. Tunepro is suitable for long term value investors.

That why we need to know why we invested in Tunepro and we need to set realistic expectation so that we won't feel dissapointed.

Just hold tight and wait for Country Border to be reopened soon. Remember Tunepro will definitely get benefit once the border is reopened.

Posted by silentWolf > 2022-02-26 00:38 | Report Abuse

https://www.klsescreener.com/v2/news/view/955659

This weekend wil announce?

Posted by auditorandconsultant > 2022-02-26 00:40 | Report Abuse

Finger crossed

Let's hope for the best

Posted by donnybelowski > 2022-02-26 11:20 | Report Abuse

Kakakkaka. Bomb!!!!

____

singkalin We all being con by Rohit.
25/02/2022 7:30 PM

Posted by million76 > 2022-02-26 18:47 | Report Abuse

hope auditor would not be the first one who sell on Monday

Posted by auditorandconsultant > 2022-02-26 19:45 | Report Abuse

Dear all,


Do not be fooled by those sour grapes who have not bought but just loved to pour cold water.

You people might think of meaningful questions and PM me.

FYI, I will be scheduling a call with the IR Team soon, probably next week or mid of March 2022.

Later, I will be showing you some analysis based on historical events for you to do your own assessment.

My group of followers and I will collect on dip on Monday. We aim for Value Long Term Investment!

We still trust Rohit and will hold till 2023 or probably hold as portfolio in my life!

We need to set realistic and achievable expectation.

To me, this QR is acceptable in view of so many unfavourable events such as Delta, Omicron and etc.

Net claim for FY2021 was significantly lower than FY2020.

Cash and cash equivalents as at 31 Dec 2021 have been almost doubled that as of preceding year ended 31 Dec 2020.

The unfavourable indicators = Fair Value Losses and Share of Losses in Assoc

If you performed Normalisation Adjustment like what M&A commonly does, this QR performance is acceptable despite many challenges!

Posted by wsb_investor > 2022-02-26 22:51 | Report Abuse

Tunepro is just selling dream la. Rohit's previous plan was to focus on health insurance but seems like fail miserably. Who you know in Malaysia will buy health insurance from Tunepro? Ended up until now still heavily focus on travel insurance. Yes, in the next 1 year, pretty much everyone that travel internationally will buy travel insurance, Tunepro likely will pocket a sexy margin (assume no new variant), but travel demand wont rebound immediately. When travel demand rebound to pre-covid era, it means that it is so safe to travel and travel insurance is not necessary anymore. All those fintech related partnership will not come cheap. In FT21, overall commission ratio increases from 12% to 16.7%, which is damn pathetic considering Tunepro combined ratio of near 100%. Yes, there are many M&A ongoing, there might be economic of scale in the future, but that is too far to tell. There are many better alternatives even if you believe this fintech dream that Tony/Rohit trying to sell.

Posted by Mystery55555 > 2022-02-27 07:27 | Report Abuse

Hi WSB, this one I agree with you, that they didn’t get good sales/revenue from health insurance. But that doesn’t mean it can’t bounce back to its previous glory. Ppl who invest in tunepro are basically all long term holder. Don’t expect it will turn to a super miracle stock in a very short period of time. Businesses have ups and downs. From the share price perspective, basically it has reached bottom and hovering sideway now.
Again, constructive comments are good for the investment education here. Most importantly, once we buy any stocks it is our own responsibility to bare.
We invest, we do researches thoroughly, if you know dig deep enough then will understand more.
And about you mentioned tourism won’t bounce so fast. We all pretty much know about this already. That’s why we here for long term investment.

Posted by Sslee > 2022-02-27 08:17 | Report Abuse

If tunepro:
Net earned premium RM 53.171 million
But
Fee and commission pay RM 12.34 million
Management espense RM 37.99 million
Claim paid (44.6-28.9)= RM 15.7 million.
How Tunepro going to make profit?

Cumulative 12 months
Net earned premium RM 196.8 million.
Management expense RM 124.8 million
Fee and commission pay RM 54.8 million

Should ask the CEO why management expense is so high?

Posted by yfchong > 2022-02-27 09:19 | Report Abuse

Habis lah....... no eyes see. where is mr. CEO

Posted by auditorandconsultant > 2022-02-27 11:10 | Report Abuse

There are challenges for insurers but at the same time there are plentiful of opportunities for insurer doing travel insurance.

There will be a new normal for the Post Covid as consumers' awareness on the need to have insurance coverage has been increased after this pandemic

We do acknowledge that there are challenges

Nevertheless, we have strong faith in Rohit's leadership. A successful person sees and seizes opportunities in every difficulty and challenge.

One of the very obvious achievements that should be acknowledged is that Tunepro's reliance on Air Asia has been reduced significantly and we should really appreciate effort that has been placed by Rohit's team. It is not easy to change company plan in such a shorter time and during pandemic

You may read more articles in
https://us.milliman.com/en/insight/new-normal-travel-insurance-asean-in-the-post-covid-19-era

We aim for Long Term Value Investment. Short term fluctuation and noise will not influence us. Tq

Posted by auditorandconsultant > 2022-02-27 13:51 | Report Abuse

Historically, we could witness that share price did not drop much even with a negative or bad Quarter Result.

To compare apple with apple, we use Q1 result and its price fluctuation as a benchmark.

Q1 or 31 March 2021 results:-
Revenue = RM117.449 million
Loss Before Tax = - RM19.798 million
Loss for the Period = - RM20.533 million
Loss attributable to ordinary equity holders of the parent = - RM15.449 million
Basic Loss Per Share (Subunit) = - 2.06
Net Asset per share (Subunit) = 0.75

Result announced on 28 May 2021 and price as at 28 May 2021 = RM0.410
Price of share after bad QR on 28 May 2021 = RM0.405 on 31 May 2021; RM0.400 on 1 June 2021; RM0.415 on 2 June 2021; RM0.410 on 3 June 2021; RM0.410 on 4 June 2021; RM0.420 on 8 June 2021

During May to June, Delta Variant was severely affecting everyone; many countries closed their borders; booster vaccination was only started in certain rich countries; there was no news about re-opening of borders; lot of uncertainties in May to June 2021.

The price of Tunepro was stable even though bad QR for Q1.

Q4 or 31 December 2021 results:-
Revenue = RM102.794 million
Loss Before Tax = - RM15.494 million
Loss for the Period = - RM14.743 million
Loss attributable to ordinary equity holders of the parent = - RM12.129 million
Basic Loss Per Share (Subunit) = - 1.61
Net Asset per share (Subunit) = 0.75

Result announced on 25 February 2022 and price as at 25 February 2022 = RM0.400 (increased from RM0.385 due to Russia-Ukraine War)

From current period onward, Delta Variant has slowly vanished and Omicron Variant even though could spread virus very fast, it is not as serious as Delta so long the infected person has been fully vaccinated and has taken Booster Vaccine. Furthermore, there are more and more countries re-opening their borders and set a more relax travelling SOP so long the traveler has been vaccinated. More and more VTLs will be opened among different countries in SEA first. Malaysia is going to open its borders fully soon and we are not waiting for PM to announce once the SOP is finalised.

As such, do not simply dump your shares if you understand the business well and you have initially set to hold for long term for value investment! Historical event had already showed us that Tunepro is meant for Value Investors!

Do not be fooled by those sour grapes who keep on telling pathetic excuses or reason such as AA is going to bankrupt and then Tunepro is going to be making further losses and etc. just to trigger anxiety to you to dump or cut loss. HOLD your shares tightly if you do not have BULLET to top up. For my group of Investors, we are ready to collect more. Remember, we should HOLD for LONG TERM VALUE INVESTMENT! Tunepro is not meant for Short Term Trading!

Disclaimer: The above comments are only for sharing purpose and shall not be construed or treated as an investment call. Remember, money is yours and you should be making investment decision responsibly.

Posted by wsb_investor > 2022-02-27 15:09 | Report Abuse

Tunepro reliance on Air Asia has been reduced significantly is solely just because of minimal international flights by AA. In fact despite effort to move away from travel insurance, its travel insurance mix (% of premium) is only getting higher and higher. Travel insurance as a % premium: 16% (2018), 14%, 17%, 25%（2021).

Looking back at Tunepro strategy, pre-covid era, Tunepro wanted to reduce its motor business, understandable, since margin is slim and many operational costs involved. Motor mix reduces from 41% (2018) to 20% (2021). In early 2021, when Covid hit hard, Tunepro changed its strategy to focus on health/lifestyle. That has failed miserably, basically no new take up at all, health business mix reduces from 6% (2018) to 4% (2021) instead. Branch out to health insurance is a good and sustainable idea (there are big insurers that solely focus on health in Sg and US), but sadly no customers trust Tunepro.

Back to Tunepro current business mix, it is still pretty much same as any traditional general insurer, traditional block of business is still >50%. Whereas for the travel insurance, pre-covid yes, fat margin from there, but during covid-era, might not be. The current mandatory travel insurance for international tourists to middle east will not last forever, can expect a big drop once government drop the mandate. Not to mention the premium size is damn pathetic, ~RM16 per policy.

Posted by Mystery55555 > 2022-02-27 15:33 | Report Abuse

Hi wsb, I think we all have to admit that COVID won’t simply go away in this coming 2-3 years time, yes, it’s not a permanent mandatory to buy travel insurance but we can foresee this sales will last for at least 3 years.

Posted by auditorandconsultant > 2022-02-27 17:43 | Report Abuse

@wsb_investor,


You cannot deny that it is Tunepro's management plan to find other sources of Travel Insurance Income other than AA. The result has proven that the top management's effort paid off. I acknowledged that it is the fact that there is a reduction in international flight of AA. For example, Tunepro has successfully sourced for more business partners like those in Middle East, and now started to venture into Vietnam and Indonesia Market.

RM16 per policy, I do not know how you get this absolute figure, I have tried running the Quotation several time, the price depends on many factors like travelling period and nationality. I had tried for a tourist from China who will travel to Malaysia from early March 2022 to end of March 2022, the travel insurance costs him RM560 per policy.

You may try navigating before simply commenting on the pricing. https://www.tuneprotect.com/airasia/covidtravelpass/my/

Well, no one will know when the Covid-19 will last. Nonetheless, the awareness of public or traveller to have travel insurance is increased. There will be a new normal for travelling requirements to include insurance and more countries are going to accept insurance and "green passport" will become a new normal. If you only look at Covid-19 and ignore the opportunities post Covid-19, then I guess you have just been too short sighted. I believe Tunepro looks beyond post Covid-19 and I believe more and more requirements will be set in the future for international travel and flight.

Read this article for your more information (there are more articles which will broaden your horizon of looking at Travel Insurance business, think out of the box, think out of Post Covid-19).

https://www.itij.com/latest/long-read/travel-insurance-post-covid-era

Posted by wsb_investor > 2022-02-27 18:08 | Report Abuse

From the presentation, travel premium in FY2021 = 101mil, 93% mix in middle east (pg7), total count of policies = 6.73mil (pg31), per policy (travel insurance in middle east) = RM14. The quotation that you get yourself is like retail customers, naturally come with higher margin, whereas Tunepro negotiated a deal with Air Arabia, all Air Arabia (low cost airline) customers automatically get insurance coverage.

"When you book your Air Arabia flight, you will be covered for 31 days from the first day of your travel. You can book via our website, mobile application, sales shop, travel agent or third party websites selling our tickets."
https://www.airarabia.com/en/covid-19-global-assistance-cover

Posted by Mystery55555 > 2022-02-27 21:31 | Report Abuse

The website never show RM16? Where n how you get the figure? Go to Singapore alone already more than RM150 easily (short period) and counted in SGD.

Posted by Mystery55555 > 2022-02-27 21:33 | Report Abuse

WSB, I have friends just went to SG and just came back also. This is a fact. FYI.

Posted by silentWolf > 2022-02-27 22:40 | Report Abuse

pandemic become endemic.. insurance is a must for future..pls panic sell tmr, i want collect more..

Posted by donnybelowski > 2022-02-28 02:45 | Report Abuse

So much talking BS. Quarter results negative also wan to defend.

The recent QR, core insurance business loss making. Lol

If u look at previous QR, Tune has changed its business activities to Investment. Up and down driven by Investment. Haha. Insurance earnings very little. Quote instruments is mainly bonds / fixed income. The FV will incur losses when there is a hike in interest rate. I highlighted again the insurance biz is small compared to their reliance on Investment in Fixed income / bonds.

If u still want to play this stock, look at interest rate movement. If want to play travel, go to airport or airlines direct.

Posted by skl4723 > 2022-03-01 13:33 | Report Abuse

https://www.insurancebusinessmag.com/asia/news/breaking-news/tune-protect-suffers-loss-for-2021-326994.aspx

Posted by skl4723 > 2022-03-01 13:34 | Report Abuse

Rohit Nambiar, Tune Protect Group CEO, said that TPT’s losses were primarily due to a group personal accident account which will no longer be renewed. Nambiar said that signs point to TPT’s recovery, due to encouraging top-line growth in 2021

Posted by skl4723 > 2022-03-01 13:34 | Report Abuse

Losses due to non renewal. Don't understand that...

Posted by wsb_investor > 2022-03-01 17:55 | Report Abuse

There are personal insurance and group insurance. Group insurance is like, Tunepro sold PA to Selangkah Vax, or Tunepro sapu all complimentary travel insurance by AirArabia. You can easily get a big block of business, but of course much lower margin. And of course, if people stop the renewal, e.g. when Selangkah Vax is rolling off, or when AirArabia stop the complimentary travel insurance, you will see a big drop in premium and hence losses due to non renewal.

Posted by singkalin > 2022-03-04 15:23 | Report Abuse

Waiting to enter at 0.20.

Posted by skl4723 > 2022-03-06 20:57 | Report Abuse

https://www.investopedia.com/ask/answers/061515/how-much-do-changes-interest-rates-affect-profitability-insurance-sector.asp

Posted by curly2328 > 2022-03-10 12:49 | Report Abuse

"It is also important to note that travellers are also required to purchase COVID-19 & travel insurance."

https://www.humanresourcesonline.net/protocols-for-all-travellers-entering-malaysia-from-1-april-2022

Posted by AlsvinChangan > 2022-03-10 14:07 | Report Abuse

Grow their auto insurance market share further

Posted by The_JQuestion > 2022-03-10 14:33 | Report Abuse

one of tony fail project like AAX wa from ipo 1.32 until now..............
how get so high valuation what so special

Posted by wsb_investor > 2022-03-11 19:04 | Report Abuse

Just received a survey from Tuneprotect on the motor insurance. Seems like they might want to focus back on motor insurance?

Posted by babyqueen > 2022-03-15 17:36 | Report Abuse

Results most likely to improve from Q2 2022 onwards.

Posted by skl4723 > 2022-03-16 15:52 | Report Abuse

Down so much

Posted by skl4723 > 2022-03-16 16:33 | Report Abuse

Someone kena margin call kah?

Posted by auditorandconsultant > 2022-03-18 18:47 | Report Abuse

A lot of retail investors opine that it is a bad decision to buy Tunepro when Fed Rate has increased.

Indeed, they might be wrong. Insurance core income is not from investment in bond, should be earned from Underwriting Income

Indeed, now it is the right timing to buy even more.....

Investment in bond is common in insurance as it is relatively low risk as compared with investment in equity.

LPI is different story because big portion of their investments is in Public Bank financial products in which Teh tycoon back the share. So dividends from public bank has been used to offset their losses in bond

Tunepro is a hidden gem and a lot of investors do not understand.

A lot of investors also do not understand the fair value gain or loss is just on paper and indeed it is a number crunching game.

If holder of bond opt to record fair value changes in OCI, then it shows no PnL impact

If holder of bond opted to measure bond investment at FVTPL, then the PnL impact will be reflected.

In any of the above cases, there is no cash flow impact at all.

Hope that investor will look at insurance business by normalising all meaningless numbers