The share price of Tune Protect Group Berhad has nearly halved from a year ago; it was trading at RM0.80 when I attended this year’s AGM in June. Unfortunately, it’s even worse for those who got in at the IPO price of RM1.55 back in 2013. Such a significant drop in share price can be depressing for those who invested their hard-earned money in the company.

At the start of the annual meeting, I witnessed a shareholder, who is also a former director of a general insurance company in Malaysia, voice his unhappiness to the board, “Your share price has been disappointing… It has been sliding… It is ‘out of tune’. [not sure if the pun was intended.] My assessment is, over the years, you have not done well.”

Tune Protect’s underperformance last year was partly caused by a higher net claim ratio and management expense …