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RHB Research favors Tune Insurance’s exposure in the profitable regional travel insurance biz

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RHB Research favors Tune Insurance’s exposure in the profitable regional travel insurance biz Empty RHB Research favors Tune Insurance’s exposure in the profitable regional travel insurance biz

Post by Cals Wed 20 Nov 2013, 18:43

RHB Research favors Tune Insurance’s exposure in the profitable regional travel insurance biz
Business & Markets 2013
Written by Jonathan Gan of theedgemalaysia.com   
Wednesday, 20 November 2013 13:38
KUALA LUMPUR (Nov 20): RHB Research has maintained its Buy rating on Tune Insurance Holdings Bhd (TIH) at RM1.93 with an unchanged fair value of RM2.40 and said it continued to like TIH’s exposure in the profitable regional travel insurance business.

In a note Wednesday, the research house said from TIH’s conference call on its 3Q13 results, it gathered that momentum was building up in THH’s: i) rebalanced motor insurance portfolio, ad ii) Philippines online travel insurance business.

“We remain positive on the group’s outlook, and maintain our BUY call and MYR2.40 FV, owing to its: i) widening margins, ii) market expansion, iii) turnaround story, and iv) tie-ups with other travel providers,” it said.
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