All posts by Tam Hse Leng

Tune Protect 2nd Sponsor a Kid Back to School 2017

Bringing Out the Sun for the Children at Yayasan Chow Kit’s Pusat Aktiviti Kanak-Kanak


Tune Protect

About Yayasan Chow Kit
In 2017, Tune Protect organized its 2nd ‘Sponsor a Kid Back to School’ especially for the ‘at-risk’ children of Yayasan Chow Kit’s (YCK) Pusat Aktiviti Kanak-Kanak (PAKK). Aged between 7 to 12 years old, many of them have been through a lot as they live in an area that has earned a notorious reputation as a hotspot for illicit activities. Most of the have seen and heard more than the average child and adult! PAKK provides these children with a haven conducive for learning, character building activities and positive interaction with their peers and carers.

A Ray of Sunshine
Tune Protect stepped in to bring ‘a ray of sunshine’ back into their lives with the sponsorship of 2 complete sets of school uniforms for all 57 children specially purchased from Outpost Uniform.

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YCK Trustee His Royal Highness Tunku Major Dato’ Seri Zain Al-‘Abidin Tuanku Muhriz graciously hosted the ceremony and witnessed our Group CEO Razman Hafidz Abu Zarim presenting the mock cheque to Yayasan Chow Kit’s Chief Operating Officer Ananti Rajasingam.

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Tune Protect

YCK’s Chief Operating Officer Ananti Rajasingam invites a YCK student to deliver his Welcome Speech on behalf of his fellow students.

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Tune Protect

His Royal Highness Tunku Zain Tuanku Muhriz and Tune Protect CEO Razman Hafidz delivering their speeches.

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Tune Protect

His Royal Highness Tunku Zain Tuanku Muhriz and Tune Protect CEO Razman Hafidz sharing light moments with the excited and curious children.

Stopped the Rain from Falling
In addition to sponsoring school uniforms and in line with the United Nations Sustainable Development Goal No. 3 promoting Good Health and Well-Being, Tune Protect literally ‘stopped the rain from falling’ by plugging the major roof leakage which severely affected the center’s classrooms, pantry and staircase with a full sponsorship for urgent repairs. In doing so, the repairs also enabled the center to resume educational activities and lessons, in line with our mission to support quality education.

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Tune Protect Head of People & Culture Yap Hsu Yi tickled at the sight of the older students helping the younger ones to button-up correctly.
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A happy YCK boy ‘driving’ a bus for the first time!

Sunshine After the Rain
After the cheque presentation ceremony, the children mingled happily with everyone in their new uniforms, just like 'sunshine after the rain'. Tune Protect volunteers also distributed neatly packed balanced meals comprising of delicious noodles, sausages, eggs, french fries, sandwiches and drinks to the grateful children whose smiles for the cameras came naturally. CLICK HERE to watch the video approved by Yayasan Chow Kit for release.

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Tune Protect Volunteers warmly giving the children their balanced meals.
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YCK children excited to receive their meals.

The Sun Daily reported this initiative in its article entitled ‘RM27,200 cheer for Yayasan Chow Kit children.’

The Star also reported this initiative in its article entitled ‘Insurer raises over RM27,000 for at-risk children and activity centre’.

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Tune Protect Emergency Flood Relief Mission in collaboration with Malaysia International Search & Rescue (MISAR) 2017

Lending More Than a Helping Hand When it is Most Needed


Tune Protect
Tune Protect

The 2017 Major Floods
The recent floods in November 2017 that hit the northwest states of Peninsular Malaysia devastated Penang, Bukit Mertajam, Kepala Batas and several other locations, killing several and displacing thousands from their homes. It was a catastrophe that hit the region unexpectedly with prolonged rainfall.

Tune Protect
Tune Protect
Tune Protect

The major floods in Penang that took several lives, paralyzed the city, cut-off communication and delayed rescue efforts.

Tune Protect Emergency Flood Relief
In line with the United Nations Sustainable Development Goal No. 3 and 11 which promote Good Health & Well-Being, and Personal Safety, Tune Protect urgently facilitated an Emergency Flood Relief Mission costing RM50,000 with the help of Malaysia International Search & Rescue (MISAR). MISAR managed to mobilise trucks fully laden with boxes full of living essentials, hit the road in the wee hours of the morning and made their way straight for schools, homes and badly affected areas.

Tune Protect
Tune Protect

Boxes and MISAR rescue vehicles filled with essential supplies for the flood victims.

MISAR to the Rescue
By sunrise, MISAR’s rescue vehicles arrived at affected areas and cautiously ploughed through flood waters. Power supply was cut-off in many places by fallen trees and landslides, which also obstructed access and severed communications channels. The mission continued with the distribution of dry food, bottled water, pillows, blankets, buckets, toiletries, diapers and sanitary napkins to residents, some of whom were walking aimlessly in desperate search for help and supplies.

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Flood victims flocked MISAR trucks immediately upon arrival.
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MISAR distributed Tune Protect sponsored dry food and bottled water to flood victims.
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Flood victims of all ages surrounded MISAR rescuers for essential supplies.
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A MISAR rescuer is seen here handing some food to a mother and her child.

Tune Protect Emergency Flood Donation Drive & Flood Advisory
Back in Kuala Lumpur, Tune Protect staff raised funds internally for our colleagues affected by the floods after a few of them were relocated to Flood Relief Centers when the water levels reached dangerous levels. The Tune Protect Emergency Flood Advisory was also circulated to help employees cope with their circumstances safely. In addition to distributing living essentials, MISAR was also on standby to conduct ‘Search & Rescue’ missions while on location. Fortunately, the rain stopped, the water began receding slowly and the situation improved with time.

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COBRA 10s Mini Rugby Tournament 2017

Character Building COBRATS Rugby for 4-16 Year Old Boys & Girls


Tune Protect

When Tune Protect Met COBRATS
Tune Protect is a supporter of sporting activities that contribute positively to a child’s healthy physical and mental development in line with United Nations Sustainable Development Goal (UNSDG) No. 3 which promotes Good Health & Well-Being. We sponsored the 1st COBRA 10s Mini Rugby Tournaments for children in 2015 and the 2nd in 2016. The tournaments were held at Astaka Field located directly next to COBRA Club Malaysia’s Clubhouse in Petaling Jaya. As a strong advocate of safety on the playing field, we also proudly sponsored the annual Personal Accident protection for all COBRATS for 2015 & 2016 in line with UNSDG Goal No. 11 that promotes Personal Safety.

COBRATS Cutie Pies Battled It Out At The COBRA 10s Mini Rugby Tournament Kuala Lumpur & Selangor 2017
On October 2017, Tune Protect sponsored the 3rd COBRA 10s Mini Rugby Tournament 2017 which was held at E Football Field at the Rubber Research Institute Sungai Buloh, Selangor. The sponsorship was focused mainly on providing medical services and support which included an experienced line-up of medical personnel, emergency first aid responders with rugby injury experience and ambulances. We also sponsored transportation and auxiliary security services that ensured the safety of everyone at the venue. As with the previous years, this was in addition to the Annual Personal Accident protection for all COBRATS for 2017.

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Last minute coaching before the tournament.
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Pitch Marshalls inspecting the pitch before the tournament.
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Tune Protect
Tune Protect

‘Tune Protected’ boys and girls giving all they got for their teams during the COBRA 10s Mini Tournament 2017 held at E Football Field Sungai Buloh.

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COBRA Medics with rugby experience attending to an injured participant.
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COBRA Crew members busy with prizes and official merchandise.

Tune Protect Honoured As a VIP Sponsor at the COBRA 50th Anniversary Gala Dinner
On 9th November 2017, Tune Protect was honoured as a VIP sponsor at Cobra's 50th Anniversary Dinner Gala held at the Hilton Petaling Jaya. The formal dinner that started with a Cocktail Reception, was graced by the President of the Olympic Council of Malaysia, His Royal Highness Tunku Tan Sri Dato’ Imran Ibni Al-Marhum Tuanku Ja’afar. Celebrity Emcee Rashid Salleh introduced the entertainment for the night. Heavy Machine belted out hit favourites and renowned comedian Douglas Lim had the audience in stitches. There were also impromptu performances by VIP guests, including HRH Tunku Imran and a few other energetic veterans, who pounced on the opportunity to join the live band.

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President of the Olympic Council of Malaysia His Royal Highness Tunku Tan Sri Imran Ibni Al Marhum Tuanku Ja’afar (centre) flanked by Tune Protect Group CEO Razman Hafidz (right) and COBRA Club Malaysia President Lt. Colonel (Rtd.) Tommy Pereira (left) at the Gala Dinner.

COBRA 10s Mini Rugby Tournament Penang 2017
On 2nd December 2017, the COBRATS tournament reached the shores of the ‘Pearl of the Orient’ and Penang island became the center of rugby attention. Tune Protect Malaysia's Chief Executive Officer Khoo Ai Lin was given the honour of presenting medals to the winning teams during the Prize Giving Ceremony at the tournament held at Padang Polo.

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Tune Protect


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Tune Protect

A cheery Tune Protect Malaysia Chief Executive Officer Khoo Ai Lin presenting medals to the ‘cutie pie’ COBRATS winning teams.

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Tune Protect S.O.S. Safety on Streets 2017

Inspiring the Development of Mobile Phone Apps to Save Lives & Help Pedestrians

Tune Protect

About S.O.S Safety on Streets
Tune Protect launched the S.O.S. Safety on Streets Challenge in June 2017 in line with the United Nations Sustainable Development Goal No. 11 that promotes Personal Safety. Our focus was on Road Safety in view of the high number of road accidents recorded in Malaysia compared to the rest of the world.

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Tune Protect Head of People & Culture Yap Hsu Yi welcoming the undergraduate contestants to the Bootcamp and competition.

The IDEATE Bootcamp
This IDEATE Bootcamp was an initiative that saw collaboration between Tune Protect, Malaysian Global Innovation & Creativity Centre (MaGIC), Road Safety Department Malaysia (JKJR), and Malaysia Digital Economy Corporation (MDEC). The challenge saw participation from young and talented undergraduates from 10 universities. Teams went ‘head-on’ against each other in conceptualizing ideas for road safety applications with a mission of improving road safety in Malaysia. 9 teams were shortlisted and the finalists attended an intensive 2-day Bootcamp that saw renowned industry experts share ideas and their experience about ‘Design Thinking’, ‘Idea Validation’, ‘Business Model Canvas’ and ‘Effective Pitching’.

Tune Protect
Tune Protect

Industry experts sharing about ‘Design Thinking’, ‘Idea Validation’, ‘Business Model Canvas’ & ‘Effective Pitching’

And The Winner is...
The moment of truth arrived and finalists presented their ideas before a panel of judges consisting of representatives from Tune Protect, MaGIC, JKJR and MDEC. Winning the Best Idea Award was Team Green Light from HELP University which took home RM5,000 for conceptualizing Walk Tune App that provides a navigation service which leads pedestrians to the safest routes towards their destination.

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1st Place Winner Team Green Light from HELP University with the Champion RM5,000 Cash Prize mock cheque presented by Tune Protect Group CEO Razman Hafidz Abu Zarim

The 2nd Place Cash Prize of RM3,000 went to Team Hoff from KDU University College for their idea of an App that helps to prevent accidents by helping to keep phone usage while driving at bay. The judges awarded 3rd Prize to Team Carma from Multimedia University for their 3-in-1 App idea that encompasses a game, rewards and parental guardianship. In addition to the Cash Prizes won, all winners were presented with a 1-Year Personal Accident Coverage and a 3-Months Internship @ Tune Protect Group.

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S.O.S. Safety On Streets winners, contestants and organizers from Tune Protect, MaGIC, JKJR & MDEC strike a pose for the album.

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Catch Tune Protect’s Head of People & Culture Yap Hsu Yi in the AFO LivE with MAG’s video interview promo above and her BFM Live & Learn radio interview podcast.

The New Straits Times reported this digital initiative in its article entitled ‘App to help pedestrians’.

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Tune Protect Honours St. John Ambulance of Malaysia 2016

A Malaysia Day 2016 Celebration with a Meaningful Tribute


Tune Protect

St. John Ambulance of Malaysia
Tune Protect’s Community Engagement initiatives place great importance on good health, well-being and personal safety, in line with the United Nations Sustainable Development Goal No. 3 and 11. In tune with that, Tune Protect paid tribute to St. John Ambulance of Malaysia (SJAM) for its tireless contribution to the Malaysian society. True to its Latin motto ‘Pro Utilitate Hominum’, which means ‘For the Service of Mankind’, SJAM’s presence is a common sight, come rain or shine, that many take for granted. SJAM is on active duty at school sports days, parades, public runs, tournaments, marathons, trialathons, festivals and various other outdoor physical activities. They also come to the rescue to assist in floods, fires, landslides, road traffic crashes,plane crashes and other calamities. Members of SJAM are unsung heroes who go beyond the call of duty to not only provide emergency first aid and 24- hour emergency ambulance services, but also haemodialysis treatment and home nursing care services.

Honouring 200 Long-Service Members
Tune Protect celebrated Malaysia Day 2016 by honouring 200 long-serving members of the SJAM with RM10 million worth of Personal Accident protection covering medical expenses following accidents, hospital income allowances, as well as allowances in cases of permanent disablement, accidental death and bereavement.

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Group CEO Razman Hafidz Abu Zarim presented Tune Protect’s celebratory Malaysia Day Ribbon recognizing exemplary & inspiring Malaysians to SJAM’s Commander-in-Chief Yang Berbahagia Dato’ Dr. Low Bin Tick. Looking on is SJAM’s Secretary-General Yang Berbahagia Dato’ Yeo Kim Thong.

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(Clockwise, from top left) Tune Protect and St. John Ambulance of Malaysia celebrating being on the same page with SJAM Selangor Coastal Area commander Chwa Siew Ngoh, SJAM member Phuah Kin Keong, Tune Protect Head of People and Culture Yap Hsu Yi, SJAM member Grace Uma Rani Krishnan, SJAM Honorary Secretary-General Dato’ Yeo Kim Thong, SJAM Commander-in-Chief Dato’ Dr. Low Bin Tick & Tune Protect Group CEO Razman Hafidz.

This Sun Daily reported this Community Engagement Initiative in its articles entitled ‘Tune Protect pays tribute to St. John Ambulance’.

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Tune Protect Partners Super Strap To Provide Complimentary Baggage Insurance

KUALA LUMPUR, Feb 19 (Bernama) — Tune Protect Group Bhd has partnered baggage wrapping service provider, Super Strap, to offer travellers who wrap their checked-in baggage, free insurance to cover for any loss during a flight.

Known as the Baggage Wrap Insurance, it is underwritten by Tune Insurance Malaysia Bhd, Tune Protect Group said in a statement here today.

The service is available at six different locations, namely KL International Airport (KLIA), Miri Airport, Tawau Airport, Sultan Ismail Petra Airport (Kota Baharu), Sultan Abdul Aziz Shah Airport (Subang) and KL Sentral.

“The partnership with Super Strap brings another avenue for us to offer worry-free protection for travellers.

“Losing your baggage is a daunting experience. With this offering, we are able to provide a customised product to address this concern,” Chief Executive Officer of Tune Protect Group Bhd, Junior Cho said.

 

Source: BERNAMA, 19 February 2016

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Tune Bekerjasama Dengan Super Strap Sediakan Insurans Bagasi

KUALA LUMPUR, 19 Feb (Bernama) — Tune Protect Group Bhd bekerjasama dengan penyedia perkhidmatan pembalut bagasi, Super Strap, untuk menawarkan pengembara yang membalut bagasi daftar masuk mereka perlindungan insurans percuma bagi sebarang kehilangan semasa dalam penerbangan.

Dikenali sebagai ‘Baggage Wrap Insurance’, ia ditaja jamin oleh Tune Insurance Malaysia Bhd, kata Tune Protect Group dalam satu kenyataan hari ini.

Perkhidmatan itu ditawarkan di enam lokasi iaitu Lapangan Terbang Antarabangsa KL (KLIA), Lapangan Terbang Miri, Lapangan Terbang Tawau, Lapangan Terbang Sultan Ismail Petra (Kota Baharu), Lapangan Terbang Sultan Abdul Aziz (Subang), dan KL Sentral.

Kerjasama dengan Super Strap ini adalah satu lagi kaedah bagi kami dalam menawarkan perlindungan kepada pengembara, kata Ketua Pegawai Eksekutif Tune Protect Group, Junior Cho.

Source: BERNAMA, 19 February 2016

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Tune Protect eyes better results

PETALING JAYA: Tune Protect Group Bhd (formerly Tune Ins Holdings Bhd), which saw its third quarter earnings drop by 20%, is unperturbed by the external headwinds and slower domestic consumption as it strives to chalk up a better set of results this year.

Its chief executive officer Junior Cho (pic) told StarBiz that despite the anticipated softness in domestic consumption and external uncertainties, the company is optimistic to maintain strong sales growth this year underpinned by its key strategic initiatives.

Without going into specific numbers, he said: “We expect a double digit growth in top line performance this year as we continue to actively take initiatives to further grow our business and heighten awareness of the value of travel insurance.

“The company will also continue to aggressively pursue strategic partnerships in the region.

“As for our general insurance business, we expect to outpace the industry average with high single digit growth for Tune Insurance Malaysia Bhd (TIMB) despite the continued softness in the market, through innovative product profiling and benefit enhancements,’’ Cho noted.

TIMB is the group’s non-life insurance unit.

He said Tune Protect would bank on two key channels in a bid to outpace the general insurance industry growth of mid-single digit by this year.

He said they involved growing its global travel business (through innovative products, new markets and new partnerships) as well as enhancing its general insurance business and digitising its direct-to-consumer products.

In September last year, the company launched its Direct-to-Consumer website whereby consumers could directly and easily purchase a number of lifestyle based products including travel insurance.

Meanwhile, analysts are expecting a single digit expansion in the premium income of the life and non-life insurance sectors in Malaysia over the next few years.

CIMB Research is urging investors to focus on insurance companies that have exposure to overseas markets and the takaful business, given the cautious outlook for growth in the conventional insurance sector.

It has kept an “overweight” rating on Malaysia’s insurance sector, naming Tune Protect Group and Syarikat Takaful Malaysia Bhd as its top picks.

The research house is projecting single digit growth rates for the industry’s premiums in 2015-16, at 5%-6% for general insurance and 7%-8% for life insurance.

For the third quarter ended Sept 30, 2015, Tune Protect Group’s net profits were down by some 20% to RM12.9mil compared with RM16.2mil a year ago. Earnings for the nine months stood at RM47.7mil, an 8.2% decrease over the same period last year mainly due to higher management expenses which include higher royalty fees related to the use of the Tune trademark and cost of rebranding, as well as the one-time sale of building in 2014.

However, operating revenue for the said quarter increased by 10.5% to RM121mil while net earned premium grew 18.9% to RM80.7mil.

Despite the weaker third quarter earnings, analysts are reiterating their add and buy calls on the company’s stock. CIMB Research said it was maintaining an “add” call on Tune Protect Group although it was cutting its financial year (FY) 2015 and FY 2017 forecast earnings per share by about 17-18%.

This was premised on the growth potential for its travel insurance business in the region, positive prospects for its non-life insurance unit in Thailand in the longer term and possibly more tie-ups with other airlines, it noted.

An insurance product manager and underwriter across the Asia-Pacific, Tune Protect has online and general insurance businesses.

It also provides online travel protection products for AirAsia Bhd and has partnerships with Cebu Pacific and Air Arabia and has footprints in over 30 countries across four continents, including countries in the Middle East-North Africa and European Union regions.

For this year, Cho said among some of the broad strategies or areas of focus to boost earnings would be to increase its global travel business, grow its offline and biz-to-biz partnerships including establishing new airline partnerships and grow its market presence in the Middle East and Asean.

On its latest plans in Indonesia after the recent termination agreement with Indonesia-based insurer PT Asuransi Staco Mandiri, he said: “We will continue to evaluate a number of opportunities within Indonesia.

“However, we cannot comment on any specific timeline at the moment.

At the same time, the company will continue to actively evaluate opportunities across Asean to further our expansion strategy. This is both for the general insurance and online business (including digital and travel partnerships).” The company’s shares were down by 2 sen to RM1.29 last Thursday.

 

Source: The Star, 4 January 2016

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Tune Protect focuses on making insurance simple, convenient and affordable

Technology is the single most impactful force that is shaping how the world is doing business today. A formidable friend or foe, it remains the bridge that connects customers who require information on the go in the most convenient manner. Riding this wave of change, Tune Insurance has realigned its business focus and refreshed its brand proposition by reintroducing itself as Tune Protect.

“Customer demands are pushing change. Demands for easier access to information, simplified processes and personalised experience are just among some of the most prevalent influencers of change,” says Junior Cho, CEO of Tune Protect Group. “The all-new Tune Protect is catering to these demands by making its product more relevant to the diverse lifestyle needs of customers in an easy, convenient and simple manner.”

Tune Protect makes its debut in the digital insurance business with four lifestyle products on its website tuneprotect.com – Tune Guard, Tune Drive Care, Tune EZ Term and Tune TrIP. Specially targeted at Malaysian consumers, the niche products are customised to meet people’s most basic requirements.

Tune Guard is a customised plan catering to victims of snatch theft and robberies, while Tune Drive Care provides car passenger coverage. Tune EZ Term provides affordable and simple life insurance protection for a fixed five-year term, and Tune TrIP is standalone travel insurance that provides “before, during and after” benefits across all countries.

A key player in the field, Tune Protect initially gained rapid popularity as the exclusive insurer of low-cost airline leader AirAsia. It has since expanded its footprint to collaborate with other airlines and travel partners across the globe, gaining a reputation among the region’s fastest-growing insurers.

It is the same brand of consumer trust that allowed Tune Protect to carve a client-focused niche in the insurance industry. Core to the group’s operations are its general insurance business through subsidiary Tune Insurance Malaysia.

Since its incorporation in 2011, Tune Protect has grown to serve more than 25 million policyholders worldwide, with more than 12 million policies issued in Malaysia alone. Today, Tune Protect is present in more than 50 countries and territories, with general insurance entities in Malaysia and Thailand. It is also represented with a joint venture in the Middle East.

“Insurance has long been thought of as a complex, costly and intangible product; that is why many people are still reluctant to spend on it,” Cho says. “The key is finding innovations to make the product not only tangible to the consumer, but also relevant, accessible and indispensable.”

Among Tune Protect’s innovative campaigns is the 10 baht (HK$2.16) insurance plan launched in Thailand last year through popular top-up machines called Boonterm kiosks. With coverage of 10,000 baht, the plan features simple and affordable insurance packages targeted at low- to middle-income customers aged between 20 and 60 – a market consisting of nearly 1.8 million individuals.

More recently, Tune Protect launched Thai Rice Insurance, offering farmers protection from losses suffered due to floods, drought, storms, pests and diseases. It also established a collaboration with Advanced Info Service, Thailand’s leading mobile phone network operator, providing travel personal accident coverage to customers who sign up for the network’s international roaming services.

“Rather than driving profits, these campaigns focus on building brand awareness among the young generation – and the results are highly promising,” Cho says. “More consumers are discovering affordable policies that match their lifestyles. The next stage will be to cover similar markets such as Indonesia, the Philippines and the Middle East, which remain untapped by such innovative campaigns.”

Last year, Tune Protect claimed the top award as Forbes Asia’s “Best of the Best” among 200 outstanding listed companies in the Asia-Pacific with annual revenues under

US$1 billion. Today, it is on its way to becoming Asean’s leading digital insurance franchise.

“We are about making insurance simple, easy, convenient, relevant and affordable – giving customers the kind of peace of mind they are looking for wherever in the world they are headed,” Cho says. “We want to break geographical boundaries and empower consumers to set the trends for the insurance industry.”

Open to diversifying into other complementary sectors, Tune Protect aims to grow with potential partners in Asean, and ultimately have a ubiquitous footprint globally.

 

Source: South China Morning Post, 9 December 2015

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Tune Protect’s 9MFY15 earnings meet expectations

KUCHING: Tune Protect Group Bhd’s (Tune Protect) first nine months of financial year 2015 (9MFY15) earnings has met analysts’ expectations, resulting in unchanged FY15 and FY16 earnings forecasts.

In a press release on Bursa Malaysia, Tune Protect said that over 9M, profit after tax came in at RM47.7 million, an 8.2 per cent decrease over the same period last year – mainly due to higher management expenses which include higher royalty fees related to the use of the Tune trademark and cost of rebranding, as well as the one-time sale of building in 2014.

According to the research arm of MIDF Amanah Investment Bank Bhd (MIDF Research), after stripping out one-off gain of RM4.3 million from sale of building in 9MFY14, the normalized earnings in 9MFY15 saw a flat on-year growth.

Overall, core cumulative earnings of RM45.5 million came in within MIDF Research’s expectation at 74 per cent of the research arm’s full-year estimate but below street estimate at only 58 per cent.

Premised on above, MIDF Research maintained its FY15 and FY16 earnings forecasts.

Hence, MIDF Research reiterated its ‘buy’ stance with an unchanged target price of RM1.86 per share.

The research arm noted that key catalysts for the earnings growth of 12.9 per cent year on year (y-o-y) next year will be as following rising air travel demand growth which is expected to increase the purchase of travel insurance, regional exposure via partnerships with airlines such as AirAsia, Cebu Pacific and Air Arabia as well as established arrangements with local insurance partners across the region and new investment opportunities though overseas ventures.

Meanwhile, it underlined that the downside risks include further economic slowdown will pose an adverse impact on the group’s travel insurance business as consumers’ spending on air travel is discretionary and strain on capital position in the event of higher insurance claims.

Source: The Borneo Post; 18 November 2015

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