Highlights
KLSE: PA (7225)       P.A. RESOURCES BHD MAIN : Industrial Products
Last Price Today's Change   Day's Range   Trading Volume
0.385   0.00 (0.00%)  0.38 - 0.39  2,053,200
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Additional Listing

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Ann. Date Date Type Units Price Total NOSH View
26-Jan-2022 27-Jan-2022 Exercise of Warrants 380,050 0.120 1,265,770,837 Additional Listing Detail
19-Jan-2022 20-Jan-2022 Exercise of Warrants 5,000 0.120 1,265,390,787 Additional Listing Detail
06-Jan-2022 07-Jan-2022 Exercise of Warrants 1,944,800 0.120 1,265,385,787 Additional Listing Detail
30-Dec-2021 31-Dec-2021 Exercise of Warrants 290,000 0.120 1,263,440,987 Additional Listing Detail
23-Dec-2021 24-Dec-2021 Exercise of Warrants 2,180,000 0.120 1,263,150,987 Additional Listing Detail
17-Dec-2021 20-Dec-2021 Exercise of Warrants 1,880,000 0.120 1,260,970,987 Additional Listing Detail
15-Dec-2021 16-Dec-2021 Exercise of Warrants 640,000 0.120 1,259,090,987 Additional Listing Detail
24-Nov-2021 25-Nov-2021 Exercise of Warrants 200,000 0.120 1,258,450,987 Additional Listing Detail
19-Nov-2021 22-Nov-2021 Exercise of Warrants 100,000 0.120 1,258,250,987 Additional Listing Detail
16-Nov-2021 17-Nov-2021 Exercise of Warrants 80,000 0.120 1,258,150,987 Additional Listing Detail
03-Nov-2021 05-Nov-2021 Exercise of Warrants 3,950,000 0.120 1,258,070,987 Additional Listing Detail
28-Oct-2021 29-Oct-2021 Exercise of Warrants 2,540,000 0.120 1,254,120,987 Additional Listing Detail
26-Oct-2021 27-Oct-2021 Exercise of Warrants 2,070,000 0.120 1,251,580,987 Additional Listing Detail
21-Oct-2021 22-Oct-2021 Exercise of Warrants 2,825,000 0.120 1,249,510,987 Additional Listing Detail
18-Oct-2021 20-Oct-2021 Exercise of Warrants 110,000 0.120 1,246,685,987 Additional Listing Detail
08-Oct-2021 11-Oct-2021 Exercise of Warrants 200,000 0.120 1,246,575,987 Additional Listing Detail
29-Sep-2021 30-Sep-2021 Exercise of Warrants 2,438,200 0.120 1,246,375,987 Additional Listing Detail
22-Sep-2021 23-Sep-2021 Exercise of Warrants 200,000 0.120 1,243,937,787 Additional Listing Detail
15-Sep-2021 17-Sep-2021 Exercise of Warrants 1,900,000 0.120 1,243,737,787 Additional Listing Detail
26-Aug-2021 27-Aug-2021 Exercise of Warrants 300,000 0.120 1,241,837,787 Additional Listing Detail
23-Aug-2021 24-Aug-2021 Exercise of Warrants 699,800 0.120 1,241,537,787 Additional Listing Detail
05-Aug-2021 06-Aug-2021 Exercise of Warrants 300,000 0.120 1,240,837,987 Additional Listing Detail
03-Aug-2021 04-Aug-2021 Exercise of Warrants 287,000 0.120 1,240,537,987 Additional Listing Detail
29-Jul-2021 30-Jul-2021 Exercise of Warrants 400,000 0.120 1,240,250,987 Additional Listing Detail
27-Jul-2021 28-Jul-2021 Exercise of Warrants 565,900 0.120 1,239,850,987 Additional Listing Detail
15-Jul-2021 16-Jul-2021 Exercise of Warrants 500,000 0.120 1,239,285,087 Additional Listing Detail
09-Jul-2021 12-Jul-2021 Exercise of Warrants 1,387,200 0.120 1,238,785,087 Additional Listing Detail
06-Jul-2021 07-Jul-2021 Exercise of Warrants 1,764,000 0.120 1,237,397,887 Additional Listing Detail
01-Jul-2021 02-Jul-2021 Exercise of Warrants 265,000 0.120 1,235,633,887 Additional Listing Detail
28-Jun-2021 29-Jun-2021 Exercise of Warrants 1,060,000 0.120 1,235,368,887 Additional Listing Detail
22-Jun-2021 23-Jun-2021 Exercise of Warrants 1,904,200 0.120 1,234,308,887 Additional Listing Detail
17-Jun-2021 18-Jun-2021 Exercise of Warrants 1,042,000 0.120 1,232,404,687 Additional Listing Detail
15-Jun-2021 16-Jun-2021 Exercise of Warrants 8,870,000 0.120 1,231,362,687 Additional Listing Detail
10-Jun-2021 11-Jun-2021 Exercise of Warrants 2,553,500 0.120 1,222,492,687 Additional Listing Detail
08-Jun-2021 09-Jun-2021 Exercise of Warrants 255,000 0.120 1,219,939,187 Additional Listing Detail
27-May-2021 28-May-2021 Exercise of Warrants 11,501,300 0.120 1,219,684,187 Additional Listing Detail
21-May-2021 24-May-2021 Exercise of Warrants 6,339,800 0.120 1,208,182,887 Additional Listing Detail
18-May-2021 19-May-2021 Exercise of Warrants 4,918,500 0.120 1,201,843,087 Additional Listing Detail
11-May-2021 12-May-2021 Exercise of Warrants 2,181,500 0.120 1,196,924,587 Additional Listing Detail
06-May-2021 07-May-2021 Exercise of Warrants 500,000 0.120 1,194,743,087 Additional Listing Detail
03-May-2021 04-May-2021 Exercise of Warrants 284,800 0.120 1,194,243,087 Additional Listing Detail
27-Apr-2021 28-Apr-2021 Exercise of Warrants 30,000 0.120 1,193,958,287 Additional Listing Detail
21-Apr-2021 22-Apr-2021 Exercise of Warrants 300,000 0.120 1,193,928,287 Additional Listing Detail
23-Mar-2021 24-Mar-2021 Exercise of Warrants 200,000 0.120 1,193,628,287 Additional Listing Detail
18-Mar-2021 19-Mar-2021 Exercise of Warrants 20,000 0.120 1,193,428,287 Additional Listing Detail
09-Mar-2021 10-Mar-2021 Exercise of Warrants 50,000 0.120 1,193,408,287 Additional Listing Detail
04-Feb-2021 05-Feb-2021 Exercise of Warrants 1,800,000 0.060 2,386,716,593 Additional Listing Detail
29-Jan-2021 02-Feb-2021 Exercise of Warrants 2,600,000 0.060 2,384,916,593 Additional Listing Detail
25-Jan-2021 26-Jan-2021 Exercise of Warrants 3,630,000 0.060 2,382,316,593 Additional Listing Detail
20-Jan-2021 21-Jan-2021 Exercise of Warrants 1,750,000 0.060 2,378,686,593 Additional Listing Detail
15-Jan-2021 18-Jan-2021 Exercise of Warrants 6,130,000 0.060 2,376,936,593 Additional Listing Detail
12-Jan-2021 13-Jan-2021 Exercise of Warrants 20,065,000 0.060 2,370,806,593 Additional Listing Detail
08-Jan-2021 11-Jan-2021 Exercise of Warrants 3,378,000 0.060 2,350,741,593 Additional Listing Detail
05-Jan-2021 06-Jan-2021 Exercise of Warrants 9,835,700 0.060 2,347,363,593 Additional Listing Detail
30-Dec-2020 31-Dec-2020 Exercise of Warrants 42,280,000 0.060 2,337,527,893 Additional Listing Detail
28-Dec-2020 29-Dec-2020 Exercise of Warrants 25,188,400 0.060 2,295,247,893 Additional Listing Detail
23-Dec-2020 24-Dec-2020 Exercise of Warrants 7,825,000 0.060 2,270,059,493 Additional Listing Detail
21-Dec-2020 22-Dec-2020 Exercise of Warrants 2,754,000 0.060 2,262,234,493 Additional Listing Detail
17-Dec-2020 18-Dec-2020 Exercise of Warrants 6,590,000 0.060 2,259,480,493 Additional Listing Detail
14-Dec-2020 15-Dec-2020 Exercise of Warrants 4,535,000 0.060 2,252,890,493 Additional Listing Detail
09-Dec-2020 10-Dec-2020 Exercise of Warrants 3,850,000 0.060 2,248,355,493 Additional Listing Detail
29-Nov-2019 02-Dec-2019 Private Placement 29,014,674 0.048 2,244,505,493 Additional Listing Detail
14-Nov-2019 15-Nov-2019 Private Placement 228,176,333 0.045 2,215,490,819 Additional Listing Detail
24-Oct-2019 25-Oct-2019 Private Placement 116,891,000 0.045 1,987,314,486 Additional Listing Detail
02-Oct-2018 03-Oct-2018 Private Placement 166,666,500 0.045 1,870,423,486 Additional Listing Detail
18-Sep-2013 19-Sep-2013 Private Placement 86,000,000 0.118 946,531,659 Additional Listing Detail
21-Nov-2012 22-Nov-2012 Rights Issue 26,312,306 0.000 90,213,956 Additional Listing Detail
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  4 people like this.
 
Newbieinshare operasi cuci kaki lemah
02/09/2021 2:55 PM
volks2 bahaya.
02/09/2021 3:02 PM
Eric963708 very sad those Trap on high price
02/09/2021 3:40 PM
whitesheep waves to 80
02/09/2021 7:31 PM
Citadel666 more likely to 0.3
02/09/2021 7:59 PM
OneSmallStep Be positive....Looking to be back at this counter
03/09/2021 8:53 AM
Cojack31 60 cts coming..be patient.
04/09/2021 8:08 AM
Eric963708 u wish la, even 50c also hard to break lo
06/09/2021 11:00 AM
Cojack31 Wait n c tommorow
06/09/2021 8:25 PM
brianklc Tikus in Sg Buloh, can’t reply
07/09/2021 1:05 PM
krish52 it looks very steady counter but what puzzled me is that the rapid price fluctuation that occur very often which chase the genuine investors cautious in involving.
07/09/2021 1:08 PM
thundery Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 9.8%
Perpetual Growth Rate 5-Year Average of MY Long-Term Govt Bond Rate 3.6%
An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for KLSE:PA
Data Point Calculation/ Source Result
Risk-Free Rate 5-Year Average of MY Long-Term Govt Bond Rate 3.6%
Equity Risk Premium S&P Global 5.9%
Metals and Mining Unlevered Beta Simply Wall St/ S&P Global 1.06
Re-levered Beta = 0.33 + [(0.66 * Unlevered beta) * (1 + (1 - tax rate) (Debt/Market Equity))]
= 0.33 + [(0.66 * 1.064) * (1 + (1 - 24.0%) (1.38%))] 1.05
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm) 1.05
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 3.62% + (1.05 * 5.88%) 9.79%
Discounted Cash Flow Calculation for KLSE:PA using 2 Stage Free Cash Flow to Equity

The calculations below outline how an intrinsic value for P.A. Resources Berhad is arrived at by discounting future cash flows to their present value using the 2 stage method. We use analyst's estimates of cash flows going forward 10 years for the 1st stage, the 2nd stage assumes the company grows at a stable rate into perpetuity.

KLSE:PA DCF 1st Stage: Next 10 years cash flow forecast
Levered FCF (MYR, Millions) Source Present Value
Discounted (@ 9.79%)
2022 20.17 Est @ 83.21% 18.37
2023 32.14 Est @ 59.33% 26.66
2024 45.84 Est @ 42.62% 34.63
2025 60.01 Est @ 30.92% 41.3
2026 73.66 Est @ 22.73% 46.16
2027 86.17 Est @ 17% 49.19
2028 97.36 Est @ 12.98% 50.62
2029 107.27 Est @ 10.17% 50.79
2030 116.07 Est @ 8.21% 50.06
2031 124 Est @ 6.83% 48.71
Present value of next 10 years cash flows MYR416
KLSE:PA DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value FCF2031 × (1 + g) ÷ (Discount Rate – g)
= MYR124.003 x (1 + 3.62%) ÷ (9.79% - 3.62% ) MYR2,080.89
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
MYR2,081 ÷ (1 + 9.79%)10 MYR817.39
KLSE:PA Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= MYR416 + MYR817 MYR1,233.39
Equity Value per Share
(MYR) = Total value / Shares Outstanding
= MYR1,233 / 1,242 MYR0.99
KLSE:PA Discount to Share Price
Calculation Result
Value per share (MYR) From above. MYR0.99
Current discount Discount to share price of MYR0.41
= (MYR0.99 - MYR0.41) / MYR0.99 58.2%
09/09/2021 8:52 AM
thundery https://images.simplywall.st/asset/chart/26166687-dcf-1-dark/1631150463276
09/09/2021 9:21 AM
luckyman https://www.thestar.com.my/tech/tech-news/2021/09/09/biden-wants-solar-to-provide-45-of-us-energy-by-2050
09/09/2021 10:14 AM
Nice149 Investors will gain and not contra players
30/09/2021 4:46 PM
Sslee Below report from LB ALUMINIUM BERHAD.
So what you expect for PA next quarter result?

LB ALUMINIUM BERHAD [198501006093 (138535-V)]
Notes To The Financial Statements
For the financial period ended 31 July 2021
B1 Review of performance (continued)
For the quarter under review, the Group reported revenue of RM114.54 million (1Q2021:
RM112.97 million). The increase was due mainly to higher average selling prices for Aluminium
Segment as a result of the rise in raw material costs. However, sales volume decreased due
mainly to disruption in our business operations following the containment measures imposed by
the Malaysian government to curb the spread of Covid-19 pandemic.

The Group reported profit before taxation of RM3.25 million (1Q2021: RM5.82 million). The
decrease was due mainly to lower profit margins as well as reduced sales volume.
01/10/2021 10:10 AM
Nice149 PA main revenue will be in solar business
01/10/2021 10:23 AM
brianklc Mickey is back after banned, but dare not surface here…
05/10/2021 1:23 PM
VICTORYU37007 Limit up
06/10/2021 10:39 PM
PATIKAYA Sure
06/10/2021 10:50 PM
PATIKAYA Hari2 naik sikit2
08/10/2021 5:39 PM
luckyman Uptrend continues?
08/10/2021 10:05 PM
keown83 nicely increase..need some time to gain momentum before parabolic hike
11/10/2021 11:34 PM
YiStock Today has a chance to jump into PA.

Fundamentally,

(1) Latest quarter report has 2 special items. (A) deferred tax asset of 7.0 mil; (B) one off esos expenses amounted to RM 3.1 mil.
Therefore, latest quarter report has a core earning of RM 14.2 mil - Rm 7 mil + RM 3.1 mil = RM 10.3 mil @ eps 0.83 sens. This is about +43% increase vs immediate preceeding quarter.

(2) Latest quarter report has a gross profit margin of nearly 19.1%, the highest in recent few quarters. The management offer the explaination of better economy of scale.

(3) Recent extension of contract with First Solar USA worth RM 800 mil for 2 years. For information, PA secured contract from Firsr Solar amounted to RM 600 mil for 3 years back in 2018. I done a calculation on past 3 years extrusion revenue, it totalled only about RM 380 mil propably due to initial starting stage that eat away too much lead time. Therefore, the new rm 800 mil "extension" contract may have carry some spill over from previous contract. So, PA now need to rush out RM 800 mil worth of order in next 8 quarters.

(4) By averaging RM 800 mil into 8 quarters evenly, it means approximately RM 100 mil per quarter. By using 19% gross profit margin, the gross profit could be as high as RM 19 mil. I check back PA recent few quarters, the administrative and other fixed cost seem to be stagnant at around RM 2 mil to RM 3 mil quater in quarter out. By simply take this amount, the profit before tax could be as high as RM 16 mil. As for tax part, PA seems to be enjoying zero tax due to accumulated losses over the many many years ago. Another possible reason could be due to special tax treamtnet since PA is in renewable energy sector. I cannot confirm this. While i do not know how much longer such treatment will last, I think is safer to apply 25% tax though before to derive the final profit after tax.

(5) Energy crisis seems to be a hot topic recently in everywhere. I notice share price of many PV companies share listed China n hong kong has surged. But PA seems doing differently.


As for technical indicator,

I think i saw a cup & handle pattern. Hope any great TA sifu can offer better picture on this

Key risk of PA,

(1) Raw material price hike. In the news published recently in media, the management highlighted that raw materials are hedged to ensure price stability. So i guess this part is not a major concern.

(2) Any risk that you and me can and cannot think of.

I hope i bet right.

Thank you
14/10/2021 7:52 AM
TraderJoe84 @YiStock any TP?
15/10/2021 2:13 AM
Value_Investor_888 What a s.t.u.p.i.d company while Aluminium price up like crazy, it still want to put reverse gear...dah gila tu or market eyes dah ditutupi shit meh??
15/10/2021 9:29 AM
fruitcake correction after erection, baby
15/10/2021 10:34 AM
PATIKAYA Bila correction habis.. harder erection coming
16/10/2021 3:01 PM
whitesheep buy more now , 60 then 80 then 120
18/10/2021 10:26 AM
fruitcake PA....HAHAHAHAHAHAHAHA
18/10/2021 11:32 AM
doglover buy in 440 ... tomorrow rebound start
20/10/2021 3:29 PM
thundery PA in Distribution stage, don't be fool to buy in
21/10/2021 1:25 PM
Kon Lim Chai Conversion of warrants to ord shares noted. Likely another dividend coming soon. Cash balance higher expected to be higher than total liabilities when next QR is released
23/10/2021 7:03 AM
PATIKAYA PAPAKAYA
23/10/2021 7:14 PM
PATIKAYA 44@fcuk2
28/10/2021 5:16 PM
Want2MakeMoney Entered today , now I wait, haha
03/11/2021 2:59 PM
PATIKAYA Volume thin...time to kaya
11/11/2021 6:43 AM
ONTHEWAY On the way
23/11/2021 11:52 PM
PATIKAYA Hari2 dia collect..
25/11/2021 6:53 PM
Putrajaya666 left pa for so long, came back and check the price still like old times...... chart wise, much more excited, breakout below ma50 and ma200 spt..... awesome future ahead
26/11/2021 2:52 PM
PATIKAYA Tunggu below 30cents
27/11/2021 11:12 AM
PATIKAYA Coming soon..sapu zone
03/12/2021 9:45 AM
PATIKAYA No dumping..ah..me waiting oh..
06/12/2021 1:46 PM
dawchok Joined in at 0.385.
07/12/2021 12:44 PM
Icon 888 Dangerous.. mj already singing.. dun be fool la. Got ticket throw operator.. no ticket watch only dun touch..
08/12/2021 3:27 AM
PATIKAYA wa cheaper...
08/12/2021 11:03 AM
PATIKAYA Santa cheap2 sales come to ijok..q buy 28.5cts
15/12/2021 12:17 PM
PATIKAYA Operator collect diam2..tak bagi chance
20/12/2021 5:01 PM
whitesheep bila mau naik ?
03/01/2022 11:25 AM
PATIKAYA Dudsh nail..tapi lembik
07/01/2022 5:27 PM


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