I applaud the management for taking a lot of initiatives of Tune to answer the shareholders’ queries on the low investment income, high combined ratio and management expenses, departure of the CEO, dividend policy and to lay out on the slides on the recovery plans and management’s response on the pandemic. The key takeaways are as follows:-

1. The Company has shortlisted a new candidate for the CEO post to replace Khoo Ai Ling (departed on end of July 20), but awaiting the approval of Bank Negara Malaysia.

2. Maintain dividend pay-out ratio of 40% and in the event the performance of the Company significantly improves, they may consider issuing special dividend. 

3. Gradual resumption of domestic travel for Thailand, Malaysia and Indonesia, with expectations of international borders opening up in stages in the 2H of 2020.

4. Governments, airlines and airports making health and travel insurance mandatory.

5. Going forward, the Company will focus on the “new norm” products as follows:-

• Covid products / Products bundling
• Enhanced Pay-As-You-Drive (“PAYD”) to cater to those with reduced commute due to work-from-home arrangements
• Airlines / Airports travel products coverage (to tap into the new group policy arrangement with airlines/airports for travellers)
• Takaful – Askrida Indonesia
• Launched Instant Claim Notification with Baoviet

6. Catalysts driving management expenses improvements

• Reduced employee costs – Freeze hiring and replacement except for critical roles
• Reprioritise marketing spend – from brand generic marketing to campaign-specific targeted marketing
• Reduce office rental, 3rd party professional fees and other office expenses

7. Affinity and Digital partnership as well as enhancement

• E-commerce – airasia.com
• E-Wallet – E-Wallet provider (Vietnam)
• Loyalty management – Big loyalty
• Community app – Eco World
• Logistics – Teleport
• Enhance agility through Open API
• Direct channel – new mobile app (buy and claims functions)