Tune Protect

Tune Protect

Postby winston » Sun Jun 07, 2015 10:33 am

not vested

TUNE INS HOLDINGS BHD By Cecilia Kok

Current stock price: RM1.84

TUNE Ins Holdings Bhd counts as an attractive growth stock as there are several factors working in its favour.

For one thing, Tune Ins’ core business of travel insurance is expected to gain stronger traction in the second half of the year, as it rides on the growth of its sister company AirAsia Bhd. Airasia, which is also a substantial shareholder in Tune Ins, will likely record higher passenger volume towards the latter part of 2015, partly driven by its aggressive marketing campaigns.

For another, the completion of Tune Ins’ acquisition of Indonesian company PT Asuransi Staco Mandiri in the middle of this year is set to further boost the group’s earnings in the second half of 2015.

Already, the group has started reaping good results from its ventures in Thailand and the Middle East since the first quarter of this year. With its aggressive plan to seek new partners in the Middle East to market its travel insurance schemes, Tune Ins is setting up itself for stronger growth momentum in the months ahead.

At its close of RM1.84 yesterday, Tune Ins was traded at a forward price-earnings of 17 times.

Source: The Star
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Re: Tune Insurance

Postby winston » Tue Sep 10, 2019 10:20 am

not vested

Trading Buy: TUNEPRO - 5230
Anticipate a stronger 2H19
(Last price: RM0.615, Potential upside +15.4%)

Company Profile
TUNEPRO (listed in Feb 2013) is mainly involved in the provision of various general and life insurance products in Asia Pacific. It is basically a financial holding company that provides underwriting and reinsurance services for non-life insurance products through its subsidiaries, associate and Joint Venture (JV) companies in Thailand (Tune Protect Thailand) and the Middle East (Tune Protect EMEIA).

Trading Catalyst
TUNEPRO is a leader in digital insurance and a dominant player in the local travel insurance segment, riding on its sister company, Air Asia’s low cost carriers’ aggressive network expansion into new markets and strong passenger growth. It could serve as an alternative investment vehicle for investors who wish to participate in AirAsia’s strong growth story without exposures to jet fuel price and USD borrowings risks.

After tumbling 20% from YTD high to RM0.615 after a poor 2Q19 results, valuations are cheap at 6.6x FY20 P/E and 0.87x P/B, which are 53% and 67% lower than its peers, supported by expectations of a better 2H19, superior yields of FY20 DY of 5.7% (71% higher than its peers) and stable 11.3% earnings CAGR for FY19-21.

Technically, the stock is heading towards RM0.645-0.71 levels after staging a downtrend line breakout last Friday.

Technical View
Resistance: RM0.645 / RM0.660 / RM0.710
Support: RM0.600 / RM0.590
Cut loss: RM0.580

Key Financial Stats
Trading at 6.6x FY20 P/E (-53% below peers) and 0.87x P/B (-67% below peers).

Source: Bloomberg, HLIB
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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Re: Tune Protect

Postby winston » Tue Sep 10, 2019 3:03 pm

vested

Aug 22, 2019

Continue Pursuing its Digital Transformation Journey

No change to our target price of RM0.87, based on unchanged 1.1x CY20 P/B.

Maintain Buy call on the stock.

Source: TA Securities
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Re: Tune Protect

Postby winston » Sat Sep 14, 2019 12:23 pm

vested

Tune Protect's earnings slip to RM10.7 mil in 2Q

August 21, 2019

KUALA LUMPUR (Aug 21): Tune Protect Group Bhd posted a lower net profit of RM10.71 million in its second quarter ended June 30, 2019 compared with RM12.81 million recorded a year earlier.

Among others, the digital insurer attributed the weaker bottom line to a decrease in net earned premiums of RM10 million and a RM5.2 million increase in management expenses.

In a filing with Bursa Malaysia today, it said revenue declined as well to RM124.46 million from RM141.26 million previously due to an RM18.9 million drop in gross earned premiums, which was offset by a RM2.1 million increase in investment income.

In the quarter under review, gross written premiums (GWP) increased 2.6 percent year-on-year to RM125.2 million on higher GWP of RM107.4 million recorded by the group's Malaysian general insurance subsidiary, Tune Protect Malaysia (TPM).

For the six-month financial period, Tune Protect's net profit was slightly lower at RM29.05 million from RM29.38 million in the first half of 2018 while revenue eased to RM251.13 million from RM284.22 million.

Its GWP was down 20.3 percent to RM207.6 million during the period, mainly due to the business portfolio restructuring exercise.

In a press statement, it said the business portfolio restructuring initiative aimed at achieving the preferred portfolio mix of 30 percent motor and 70 percent non-motor was part of the group’s strategy to ensure the sustainability and profitability of its Malaysian general insurance business.

"While TPM prudently manages its motor portfolio, it is also focusing towards growing the non-motor segment, specifically in retail, affinity and small medium enterprises/industries," it said.

Meanwhile, the group's reinsurance arm, Tune Protect Re (TPR), saw encouraging Europe, Middle East, India and Africa (EMEIA) sales via its business-to-business channel, with key markets like the United Arab Emirates and Saudi Arabia registering “compelling growth".

Group chief executive officer Khoo Ai Lin said the group foresaw that the economic and insurance landscape would continue to be challenging in the region.

"To drive future growth, the group will intensify its efforts on delivering its key transformational pillars in ASEAN business, AirAsia ecosystems, insurance technology (insurtech) capabilities and national business to contribute towards underwriting profits and other incomes leveraging on insurtech," Khoo added.

Source: The Edge

https://www.theedgemarkets.com/article/ ... 107-mil-2q
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