New Risk • Jun 28
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 4.6% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (RM211.0m market cap, or US$51.6m). Upcoming Dividend • Jun 18
Upcoming dividend of RM0.013 per share Eligible shareholders must have bought the stock before 25 June 2026. Payment date: 24 July 2026. The company last paid an ordinary dividend in May 2016. The average dividend yield among industry peers is 5.3%. Major Estimate Revision • May 28
Consensus revenue estimates fall by 17% The consensus outlook for revenues in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from RM449.4m to RM374.0m. EPS estimate fell from RM0.038 to RM0.025 per share. Net income forecast to shrink 7.9% next year vs 0.2% growth forecast for Insurance industry in Malaysia . Consensus price target down from RM0.46 to RM0.38. Share price was steady at RM0.29 over the past week. Reported Earnings • May 22
First quarter 2026 earnings released: EPS: RM0.004 (vs RM0.008 in 1Q 2025) First quarter 2026 results: EPS: RM0.004 (down from RM0.008 in 1Q 2025). Revenue: RM66.9m (down 18% from 1Q 2025). Net income: RM3.30m (down 44% from 1Q 2025). Profit margin: 4.9% (down from 7.3% in 1Q 2025). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 9.3% p.a. on average during the next 3 years, compared to a 5.9% decline forecast for the Insurance industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 82% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Price Target Changed • May 21
Price target decreased by 21% to RM0.38 Down from RM0.48, the current price target is provided by 1 analyst. New target price is 31% above last closing price of RM0.29. Stock is up 1.8% over the past year. The company is forecast to post earnings per share of RM0.025 for next year compared to RM0.035 last year. Announcement • Apr 30
Tune Protect Group Berhad, Annual General Meeting, Jun 24, 2026 Tune Protect Group Berhad, Annual General Meeting, Jun 24, 2026, at 10:00 Singapore Standard Time. Location: the vertical, connexion conference & event centre, the summit 1 (level m1), bangsar south city no 8, jalan kerinchi, 59200 kuala lumpur, Malaysia Announcement • Apr 25
Tune Protect Group Berhad announces Annual dividend, payable on July 24, 2026 Tune Protect Group Berhad announced Annual dividend of MYR 0.0130 per share payable on July 24, 2026, ex-date on June 25, 2026 and record date on June 26, 2026. Reported Earnings • Mar 02
Full year 2025 earnings released: EPS: RM0.035 (vs RM0.001 in FY 2024) Full year 2025 results: EPS: RM0.035 (up from RM0.001 in FY 2024). Revenue: RM341.8m (down 8.0% from FY 2024). Net income: RM26.5m (up RM25.9m from FY 2024). Profit margin: 7.7% (up from 0.2% in FY 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 6.7% decline forecast for the Insurance industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 89% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 25
Third quarter 2025 earnings released: EPS: RM0.008 (vs RM0.008 in 3Q 2024) Third quarter 2025 results: EPS: RM0.008 (in line with 3Q 2024). Revenue: RM82.4m (down 9.2% from 3Q 2024). Net income: RM6.33m (up 7.9% from 3Q 2024). Profit margin: 7.7% (up from 6.5% in 3Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 6.2% decline forecast for the Insurance industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 92% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 29
Second quarter 2025 earnings released: EPS: RM0.011 (vs RM0.013 loss in 2Q 2024) Second quarter 2025 results: EPS: RM0.011 (up from RM0.013 loss in 2Q 2024). Revenue: RM84.4m (down 1.1% from 2Q 2024). Net income: RM8.50m (up RM18.3m from 2Q 2024). Profit margin: 10% (up from net loss in 2Q 2024). The move to profitability was driven by lower expenses. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 6.8% decline forecast for the Insurance industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 83% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. New Risk • May 29
New major risk - Revenue and earnings growth Earnings have declined by 37% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 37% per year over the past 5 years. Minor Risk Market cap is less than US$100m (RM211.0m market cap, or US$49.7m). Reported Earnings • May 29
First quarter 2025 earnings released: EPS: RM0.008 (vs RM0.005 loss in 1Q 2024) First quarter 2025 results: EPS: RM0.008 (up from RM0.005 loss in 1Q 2024). Revenue: RM82.7m (down 6.7% from 1Q 2024). Net income: RM5.90m (up RM9.43m from 1Q 2024). Profit margin: 7.1% (up from net loss in 1Q 2024). The move to profitability was driven by lower expenses. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 3.2% decline forecast for the Insurance industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Announcement • Apr 29
Tune Protect Group Berhad, Annual General Meeting, Jun 24, 2025 Tune Protect Group Berhad, Annual General Meeting, Jun 24, 2025, at 10:00 Singapore Standard Time. Location: the vertical, connexion conference & event centre, summit 1 ballroom (level m1) bangsar south city, no 8, jalan kerinchi, 59200 kuala lumpur, wilayah persekutuan, Malaysia Reported Earnings • Mar 01
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: RM0.001 (up from RM0.001 loss in FY 2023). Revenue: RM361.4m (up 11% from FY 2023). Net income: RM571.0k (up RM1.52m from FY 2023). Profit margin: 0.2% (up from net loss in FY 2023). The move to profitability was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 60%. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 3.0% decline forecast for the Insurance industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Announcement • Jan 02
Tune Protect Group Berhad Announces the Redesignation of Gan Mei Mei from Member of Audit Committee to Chairman of Audit Committee Tune Protect Group Berhad announced the redesignation of Miss Gan Mei Mei, Age 60, from Independent and Non Executive Member of Audit Committee to Independent and Non Executive Chairman of Audit Committee. Date of change: January 1, 2025. Composition of Audit Committee: Ms Gan Mei Mei (Chairman, Independent Non-Executive Director); En Mohamed Rashdi bin Mohamed Ghazalli (Member, Senior Independent Non-Executive Director); Mr. Kelvin Desmond Malayapillay (Member, Independent Non-Executive Director); En Ariff bin Rozhan (Member, Independent Non-Executive Director); Mr. Jayakumar A/L Somasundram (Member, Independent Non-Executive Director). Reported Earnings • Nov 26
Third quarter 2024 earnings released: EPS: RM0.008 (vs RM0.005 in 3Q 2023) Third quarter 2024 results: EPS: RM0.008 (up from RM0.005 in 3Q 2023). Revenue: RM91.1m (up 2.4% from 3Q 2023). Net income: RM5.86m (up 56% from 3Q 2023). Profit margin: 6.4% (up from 4.2% in 3Q 2023). Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 5.7% decline forecast for the Insurance industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Announcement • Sep 10
Tune Protect Group Berhad Appoints Miss Gan Mei Mei as Member of Risk Committee Tune Protect Group Berhad announced the appointment of Miss Gan Mei Mei as Independent and Non Executive Member of Risk Committee, aged 58. Date of change: 10 September 2024. Composition of Risk Committee: Mr. Jayakumar A/L Somasundram- Chairman, Independent Non-Executive Director; En Mohamed Rashdi Bin Mohamed Ghazalli- Member, Senior Independent Non-Executive Director; Mr. Kelvin Desmond Malayapillay- Member, Independent Non-Executive Director; Dato' Mohamed Khadar Bin Merican- Member, Independent Non-Executive Director; En Ariff Bin Rozhan- Member, Independent Non-Executive Director; Ms Gan Mei Mei Member, Independent Non-Executive Director. Reported Earnings • Aug 29
Second quarter 2024 earnings released: RM0.013 loss per share (vs RM0.013 profit in 2Q 2023) Second quarter 2024 results: RM0.013 loss per share (down from RM0.013 profit in 2Q 2023). Revenue: RM87.3m (down 3.6% from 2Q 2023). Net loss: RM9.77m (down 203% from profit in 2Q 2023). Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 1.5% growth forecast for the Insurance industry in Asia. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Announcement • Aug 08
Tune Protect Group Berhad Announces Redesignation of Encik Mohamed Rashdi Bin Mohamed Ghazalli from Member of Audit Committee to Chairman of Audit Committee Tune Protect Group Berhad announced Redesignation of ENCIK MOHAMED RASHDI BIN MOHAMED GHAZALLI from Member of Audit Committee to Chairman of Audit Committee. Date of change is 08 August 2024. Age is 67. Composition of Audit Committee includes En Mohamed Rashdi bin Mohamed Ghazalli (Chairman, Senior Independent Non-Executive Director), Mr. Kelvin Desmond Malayapillay (Member, Independent Non-Executive Director), En Ariff bin Rozhan (Member, Independent Non-Executive Director) and Mr. Jayakumar A/L Somasundram (Member, Independent Non-Executive Director). Announcement • Jul 31
Tune Protect Group Berhad Appoints Jayakumar A/L Somasundram as Independent and Non Executive Chairman of Risk Committee Tune Protect Group Berhad appointed Mr. Jayakumar A/L Somasundram as Independent and Non Executive Chairman of Risk Committee, effective 01 August 2024. Age: 63. Composition of Risk Committee(Name and Directorate of members after change); Mr. Jayakumar A/L Somasundram (Chairman, Independent Non-Executive Director); En Mohamed Rashdi bin Mohamed Ghazalli (Member, Senior Independent Non-Executive Director); Mr. Kelvin Desmond Malayapillay (Member, Independent Non-Executive Director); Dato' Mohamed Khadar bin Merican (Member, Independent Non-Executive Director); En Ariff bin Rozhan (Member, Independent Non-Executive Director). Price Target Changed • May 28
Price target decreased by 8.6% to RM0.48 Down from RM0.53, the current price target is an average from 2 analysts. New target price is 39% above last closing price of RM0.34. Stock is down 16% over the past year. The company is forecast to post earnings per share of RM0.034 next year compared to a net loss per share of RM0.0013 last year. Reported Earnings • May 25
First quarter 2024 earnings released: RM0.005 loss per share (vs RM0.003 profit in 1Q 2023) First quarter 2024 results: RM0.005 loss per share (down from RM0.003 profit in 1Q 2023). Revenue: RM89.6m (down 5.3% from 1Q 2023). Net loss: RM3.53m (down 279% from profit in 1Q 2023). Revenue is forecast to grow 25% p.a. on average during the next 2 years, compared to a 2.6% decline forecast for the Insurance industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Announcement • May 01
Tune Protect Group Berhad, Annual General Meeting, Jun 19, 2024 Tune Protect Group Berhad, Annual General Meeting, Jun 19, 2024, at 14:00 Singapore Standard Time. Location: Tricor Business Centre, Gemilang Room, Unit 29-01, Level 29, Tower A Vertical Business Suite, Avenue 3, Bangsar South, No. 8 Jalan Kerinch Kuala Lumpur Malaysia Agenda: To receive the Audited Financial Statements for the year ended 31 December 2023 together with the Reports of the Directors and Auditors thereon; to re-elect En Mohamed Rashdi bin Mohamed Ghazalli who retires by rotation pursuant to Article 122 of the Company's Constitution and who, being eligible, has offered himself for re-election; to approve the payment of Directors' fees of up to MYR 1,217,000 from the conclusion of the Thirteenth AGM until the conclusion of the next AGM of the Company; to re-appoint Ernst & Young PLT as Auditor of the Company for the ensuing financial year ending 31 December 2024 and to authorise the Directors to fix their remuneration; and to consider other matters. Announcement • Apr 03
Tune Protect Group Berhad Announces the Resignation of Rohit Chandrasekharan Nambiar as Group Chief Executive Officer, Effective 10 May 2024 Tune Protect Group Berhad announced the resignation of Mr. Rohit Chandrasekharan Nambiar as Group Chief Executive Officer. Reason: Due to personal reasons. Age: 43. Date of change: 10 May 2024. Qualifications: Insurance - Malaysian Insurance Institute - Fellowship in Insurance; and Commerce - Bharathiar University, Coimbatore. Working experience and occupation: AXA AFFIN LIFE INSURANCE BERHAD - Chief Executive Officer (Malaysia) (December 2017 to 8 October 2020); AXA AFFIN GENERAL INSURANCE BERHAD - Chief Transformation & Operations Officer (Malaysia) (January 2016 - December 2017); AXA ASIA - Regional Programme Head - Customer Experience Transformation (Hong Kong) (October 2014 - December 2015); AXA ASIA- Regional Head of Strategy and Financial Planning (Hong Kong) (October 2012 - December 2014); AXA ASIA - Regional Manager - Corporate Development (Singapore followed by Hong Kong) (November 2009 - September 2012); and AXA ASIA Manager - Business Intelligence & Analytics (India) (December 2003 - December 2010). Reported Earnings • Mar 02
Full year 2023 earnings released: RM0.001 loss per share (vs RM0.046 loss in FY 2022) Full year 2023 results: RM0.001 loss per share (improved from RM0.046 loss in FY 2022). Revenue: RM316.6m (down 2.0% from FY 2022). Net loss: RM947.0k (loss narrowed 97% from FY 2022). Revenue is forecast to grow 20% p.a. on average during the next 2 years, compared to a 1.6% growth forecast for the Insurance industry in Malaysia. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Reported Earnings • Nov 24
Third quarter 2023 earnings released: EPS: RM0.005 (vs RM0.016 loss in 3Q 2022) Third quarter 2023 results: EPS: RM0.005 (up from RM0.016 loss in 3Q 2022). Revenue: RM90.5m (up 18% from 3Q 2022). Net income: RM3.76m (up RM15.9m from 3Q 2022). Profit margin: 4.2% (up from net loss in 3Q 2022). The move to profitability was primarily driven by higher revenue. Revenue is forecast to stay flat during the next 3 years compared to a 1.6% decline forecast for the Insurance industry in Malaysia. Over the last 3 years on average, earnings per share has fallen by 56% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Reported Earnings • Aug 25
Second quarter 2023 earnings released: EPS: RM0.013 (vs RM0.026 loss in 2Q 2022) Second quarter 2023 results: EPS: RM0.013 (up from RM0.026 loss in 2Q 2022). Revenue: RM91.4m (up 11% from 2Q 2022). Net income: RM9.52m (up RM29.3m from 2Q 2022). Profit margin: 10% (up from net loss in 2Q 2022). The move to profitability was primarily driven by lower expenses. Revenue is expected to fall by 7.3% p.a. on average during the next 3 years compared to a 1.9% decline forecast for the Insurance industry in Malaysia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 115 percentage points per year, which is a significant difference in performance. Reported Earnings • May 26
First quarter 2023 earnings released: EPS: RM0.003 (vs RM0.004 loss in 1Q 2022) First quarter 2023 results: EPS: RM0.003 (up from RM0.004 loss in 1Q 2022). Revenue: RM15.4m (down 77% from 1Q 2022). Net income: RM1.97m (up RM4.95m from 1Q 2022). Profit margin: 13% (up from net loss in 1Q 2022). The move to profitability was driven by lower expenses. Revenue is expected to fall by 5.9% p.a. on average during the next 2 years compared to a 1.7% decline forecast for the Insurance industry in Malaysia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 131 percentage points per year, which is a significant difference in performance. Reported Earnings • Feb 23
Full year 2022 earnings released: RM0.046 loss per share (vs RM0.02 loss in FY 2021) Full year 2022 results: RM0.046 loss per share (further deteriorated from RM0.02 loss in FY 2021). Revenue: RM327.3m (up 55% from FY 2021). Net loss: RM34.4m (loss widened 129% from FY 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 121 percentage points per year, which is a significant difference in performance. Price Target Changed • Jan 11
Price target increased to RM0.40 Up from RM0.35, the current price target is provided by 1 analyst. New target price is 16% above last closing price of RM0.34. Stock is down 16% over the past year. The company is forecast to post a net loss per share of RM0.052 next year compared to a net loss per share of RM0.02 last year. Reported Earnings • Nov 26
Third quarter 2022 earnings released: RM0.016 loss per share (vs RM0.002 loss in 3Q 2021) Third quarter 2022 results: RM0.016 loss per share (further deteriorated from RM0.002 loss in 3Q 2021). Revenue: RM78.7m (up 50% from 3Q 2021). Net loss: RM12.2m (loss widened RM10.5m from 3Q 2021). Revenue is forecast to stay flat during the next 3 years compared to a 5.1% growth forecast for the Insurance industry in Asia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 102 percentage points per year, which is a significant difference in performance. Price Target Changed • Nov 16
Price target decreased to RM0.42 Down from RM0.51, the current price target is provided by 1 analyst. New target price is 56% above last closing price of RM0.27. Stock is down 47% over the past year. The company is forecast to post a net loss per share of RM0.025 next year compared to a net loss per share of RM0.02 last year. Reported Earnings • Aug 26
Second quarter 2022 earnings released: RM0.026 loss per share (vs RM0.019 profit in 2Q 2021) Second quarter 2022 results: RM0.026 loss per share (down from RM0.019 profit in 2Q 2021). Revenue: RM82.9m (up 30% from 2Q 2021). Net loss: RM19.8m (down 239% from profit in 2Q 2021). Over the next year, revenue is expected to shrink by 1.7% compared to a 38% decline forecast for the Insurance industry in Malaysia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 90 percentage points per year, which is a significant difference in performance. Announcement • Aug 13
Tune Protect Group Berhad Announces Resignation of Low Wai See as Group Company Secretary Tune Protect Group Berhad announced resignation of LOW WAI SEE as Group Company Secretary. Date Of Change: 11 August, 2022. Announcement • Jun 09
Tune Protect Group Berhad, Annual General Meeting, Jun 27, 2022 Tune Protect Group Berhad, Annual General Meeting, Jun 27, 2022, at 14:00 Singapore Standard Time. Announcement • Jun 01
Tune Protect Group Berhad Announces Retirement of Ng Soon Lai @ Ng Siek Chuan as Non Independent and Non Executive Member of Audit Committee Tune Protect Group Berhad announced the retirement of Ng Soon Lai @ Ng Siek Chuan as Non Independent and Non Executive Member of Audit Committee. Date of change: 31 May 2022. Reported Earnings • May 20
First quarter 2022 earnings: EPS and revenues miss analyst expectations First quarter 2022 results: RM0.004 loss per share (up from RM0.021 loss in 1Q 2021). Revenue: RM68.2m (up 64% from 1Q 2021). Net loss: RM2.97m (loss narrowed 81% from 1Q 2021). Revenue missed analyst estimates by 10%. Earnings per share (EPS) were also behind analyst expectations. Over the next year, revenue is forecast to grow 42% compared to a 15% decline forecast for the industry in Malaysia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 75 percentage points per year, which is a significant difference in performance. Price Target Changed • Apr 27
Price target decreased to RM0.56 Down from RM0.60, the current price target is provided by 1 analyst. New target price is 34% above last closing price of RM0.41. Stock is down 4.6% over the past year. The company is forecast to post earnings per share of RM0.031 next year compared to a net loss per share of RM0.02 last year. Reported Earnings • Feb 28
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: RM0.02 loss per share (down from RM0.024 profit in FY 2020). Revenue: RM212.8m (down 19% from FY 2020). Net loss: RM15.0m (down 182% from profit in FY 2020). Revenue missed analyst estimates by 100%. Earnings per share (EPS) were also behind analyst expectations. Over the next year, revenue is forecast to grow 27% compared to a 20% decline forecast for the insurance industry in Malaysia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 63 percentage points per year, which is a significant difference in performance. Reported Earnings • Nov 18
Third quarter 2021 earnings released: RM0.002 loss per share (vs RM0.003 profit in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and control over costs. Third quarter 2021 results: Revenue: RM52.6m (down 19% from 3Q 2020). Net loss: RM1.66m (down 173% from profit in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 60% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 24
Second quarter 2021 earnings released: EPS RM0.019 (vs RM0.017 in 2Q 2020) The company reported a decent second quarter result with improved earnings and profit margins, although revenues were weaker. Second quarter 2021 results: Revenue: RM63.9m (down 3.1% from 2Q 2020). Net income: RM14.2m (up 13% from 2Q 2020). Profit margin: 22% (up from 19% in 2Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 46% per year but the company’s share price has only fallen by 19% per year, which means it has not declined as severely as earnings. Price Target Changed • Jul 02
Price target increased to RM0.38 Up from RM0.35, the current price target is an average from 4 analysts. New target price is 7.6% below last closing price of RM0.41. Stock is up 24% over the past year. Major Estimate Revision • Jun 05
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 EPS estimate fell from RM0.044 to RM0.024. Revenue forecast unchanged from RM240.8m at last update. Net income forecast to grow 5,147% next year vs 10% growth forecast for Insurance industry in Malaysia. Consensus price target broadly unchanged at RM0.35. Share price was steady at RM0.41 over the past week. Reported Earnings • May 29
First quarter 2021 earnings released: RM0.021 loss per share (vs RM0.003 profit in 1Q 2020) The company reported a poor first quarter result with weaker earnings, revenues and control over costs. First quarter 2021 results: Revenue: RM41.8m (down 40% from 1Q 2020). Net loss: RM15.4m (down RM17.9m from profit in 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has only fallen by 20% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Mar 10
New 90-day high: RM0.45 The company is up 2.0% from its price of RM0.44 on 10 December 2020. The Malaysian market is flat over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Insurance industry, which is up 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is RM0.44 per share. Analyst Estimate Surprise Post Earnings • Mar 02
Revenue beats expectations, earnings disappoint Revenue exceeded analyst estimates by 3.4%. Earnings per share (EPS) missed analyst estimates by 21%. Over the next year, revenue is expected to shrink by 18% compared to a 17% decline forecast for the Insurance industry in Malaysia. Reported Earnings • Feb 27
Full year 2020 earnings released: EPS RM0.025 (vs RM0.067 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: RM266.8m (down 21% from FY 2019). Net income: RM18.4m (down 64% from FY 2019). Profit margin: 6.9% (down from 15% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 19% per year whereas the company’s share price has fallen by 24% per year. Price Target Changed • Dec 02
Price target raised to RM0.32 Up from RM0.26, the current price target is an average from 4 analysts. The new target price is 22% below the current share price of RM0.41. As of last close, the stock is down 23% over the past year. Is New 90 Day High Low • Nov 30
New 90-day high: RM0.37 The company is up 4.0% from its price of RM0.35 on 01 September 2020. The Malaysian market is also up 4.0% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it underperformed the Insurance industry, which is up 8.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is RM0.38 per share. Price Target Changed • Nov 23
Price target raised to RM0.27 Up from RM0.25, the current price target is an average from 4 analysts. The new target price is 21% below the current share price of RM0.34. As of last close, the stock is down 38% over the past year. Reported Earnings • Nov 21
Third quarter 2020 earnings released: EPS RM0.003 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: RM65.5m (down 24% from 3Q 2019). Net income: RM2.28m (down 79% from 3Q 2019). Profit margin: 3.5% (down from 13% in 3Q 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has fallen by 31% per year, which means it is performing significantly worse than earnings. Is New 90 Day High Low • Nov 01
New 90-day low: RM0.30 The company is down 3.0% from its price of RM0.31 on 03 August 2020. The Malaysian market is down 6.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Insurance industry, which is down 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is RM0.39 per share. Announcement • Oct 14
Tune Protect Group Berhad Announces the Appointment of Rohit Chandrasekharan Nambiar as Group Chief Executive Officer, Effective 14 October 2020 Tune Protect Group Berhad announced the appointment of Rohit Chandrasekharan Nambiar ("Rohit") as its Group Chief Executive Officer ("GCEO") effective 14 October 2020. Rohit takes over the helm from Khoo Ai Lin who resigned on 31 July 2020. In his new role, Rohit will be responsible for steering Tune Protect on its continuing journey of strong growth and digital transformation. Rohit`s focus will be on strengthening the Company`s reach in the retail consumer space - driving innovation in product ideas and digital solutions, enhancing customer experience by focusing on ease and convenience, and growing the affinity, B2C and B2B2C distribution platforms leveraging big data and technology. Rohit is no stranger to the Insurance Industry and joins from AXA Affin Life Insurance Berhad where he was the CEO and had the overall responsibility for the strategic direction, management and growth operations throughout the organisation. Announcement • Jul 17
Tune Protect Group Berhad Announces Resignation of Miss Khoo Ai Lin as A Group Chief Executive Officer, Effective 31 July 2020 Tune Protect Group Berhad announced the resignation of MISS KHOO AI LIN as a Group Chief Executive Officer. Date of change is 31 July 2020. 
