HLBank Research Highlights

Author: HLInvest   |   Latest post: Fri, 18 Jun 2021, 9:58 AM


Perak Transit - Higher Growth Trajectory Ahead; Potential Ascending Triangle Breakout

Author:   |    Publish date:

PTRANS is a leading integrated public transportations terminal (IPTT) operator in Perak. Its flagship Terminal Meru Raya (TMR) is a successful model premised on good margins supported by recurring income since its operations in 2012. Given PTRANS excellent track record in IPTT business, it can replicate its business model on Terminal Kampar Putra Sentral. Meanwhile, its maiden venture into third party terminal management services (TMS) to operate Terminal Sentral Kuantan (TSK) marks a strategic move towards higher growth and recurring earnings with minimal capital expenditure of ~RM10m (vs conventional develop, own and operate capex of over RM100m). The stock is trading at an undemanding 10.5x FY22E P/E (about 49% lower than peers), supported by a strong FY20-22 EPS CAGR of 15% and a decent 3.7% DY.

Potential ascending triangle breakout. PTRANS has been holding up well above the support trend line near RM0.785 since July 2020. Overall, the uptrend is still intact given the higher lows sequence, thereby increased the likelihood of the resumption of further advance. The buying momentum will further accelerate pending an ascending triangle breakout above RM0.85 neckline resistance. A successful breakout above this barrier will lift share prices higher towards RM0.90 (29 Sep high) and our LT target at RM0.99 (10 Aug high). Meanwhile, key supports are situated at RM0.785 and RM0.75 (10M SMA). Cut loss at RM0.74.

Source: Hong Leong Investment Bank Research - 11 Feb 2021

Share this
Labels: PTRANS

Related Stocks

Chart Stock Name Last Change Volume 
PTRANS 0.685 +0.005 (0.74%) 2,505,100 

  Be the first to like this.

I3 Messenger
Individual or Group chat with anyone on I3investor
MQ Trader
Perform Technical & Fundamental Analysis on Stocks
MQ Affiliate
Earn rewards by referring your friends

572  344  555 

Top 10 Active Counters
 FINTEC 0.035+0.005 
 MMAG 0.185-0.005 
 VSOLAR 0.02+0.005 
 EURO 1.10-0.11 
 MTOUCHE 0.090.00 
 SERBADK 0.625-0.005 
 HHHCORP 0.190.00 
 MRDIY 3.900.00 
 FOCUS 0.04+0.005 
 EDARAN 1.17+0.265 


1. MQ Trader - Introduction to MQ Trader Affiliate Program MQ Trader Announcement!


1. What Professor Dennis Etler said about China - Koon Yew Yin Koon Yew Yin's Blog
2. Serba Dinamik rombak struktur Lembaga Pengarah, lantik IIlyas Pakeer sebagai pengerusi Oil and Gas Malaysia News
3. [MUST READ] Important message for all investors who are planning to invest in AT or existing AT shareholders Important message for all investors who are planning to invest in AT or existing AT shareholders
5. BREAKING: The Las Vegas Strip Is Back and May Be Better Than Ever [SEE INSIDE FOR TRIPLE DIGIT GAINS] A blog to publish and share information
6. 上升股:国家能源 阻力RM10.94 南洋行家论股
7. Singapore sees first day rush for Sinovac vaccine; as 16 Covid-19 cases announced on Friday (June 18) Good Articles to Share
8. Media - Attractive valuations as recovery prospects brighten AmInvest Research Reports