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| KLSE: PTARAS (9598) | PINTARAS JAYA BHD | MAIN : Construction |
| Last Price | Today's Change | Day's Range | Trading Volume |
| 2.40 | 0.00 (0.00%) | 2.30 - 2.40 | 77,400 |
Financials
Market Cap: 398 Million
| Latest Audited Result: 30-Jun-2019
| Latest Quarter: 31-Mar-2020 [#3]
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Annual (Unaudited) ( EPS: 15.70, P/E: 15.25 )
| T4Q Result ( EPS: 26.96, P/E: 8.90 )
| Annualized Result ( EPS: 22.93, P/E: 10.48 )
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Business Performance
Business Performance (By Quarter)
| Trailing 4 Quarters | Trailing 8 Quarters | |||
|---|---|---|---|---|
| Available Quarters | 4 Quarters | 8 Quarters | ||
| Continuous Quarters Of Revenue Growth | 2 / 4 | 50.00% | 2 / 8 | 25.00% |
| Total Positive Profit Years | 3 / 4 | 75.00% | 7 / 8 | 87.50% |
| Continuous Quarters Of Positive Profit | 0 / 4 | 0.00% | 0 / 8 | 0.00% |
| Continuous Quarters Of Profit Growth | 0 / 4 | 0.00% | 0 / 8 | 0.00% |
| Continuous Quarters Of Adjusted EPS Growth | 0 / 4 | 0.00% | 0 / 8 | 0.00% |
| Total Dividend Years | 2 / 4 | 50.00% | 4 / 8 | 50.00% |
| Continuous Quarters Of Dividend | 1 / 4 | 25.00% | 1 / 8 | 12.50% |
| Continuous Quarters Of Dividend Growth | 0 / 4 | 0.00% | 0 / 8 | 0.00% |
| Continuous Quarters Of Adjusted Dps Growth | 1 / 4 | 25.00% | 1 / 8 | 12.50% |
| Average ROE | 3.45% | 2.24% | ||
| Average Net Profit Margin | 10.54% | 8.81% | ||
Business Performance (By Year)
| Last 5 Financial Years | Last 10 Financial Years | |||
|---|---|---|---|---|
| Available Years | 5 Years | 10 Years | ||
| Continuous Years Of Revenue Growth | 1 / 5 | 20.00% | 1 / 10 | 10.00% |
| Total Positive Profit Years | 5 / 5 | 100.00% | 10 / 10 | 100.00% |
| Continuous Years Of Positive Profit | 5 / 5 | 100.00% | 10 / 10 | 100.00% |
| Continuous Years Of Profit Growth | 1 / 5 | 20.00% | 1 / 10 | 10.00% |
| Continuous Years Of Adjusted EPS Growth | 1 / 5 | 20.00% | 1 / 10 | 10.00% |
| Total Dividend Years | 5 / 5 | 100.00% | 10 / 10 | 100.00% |
| Continuous Years Of Dividend | 5 / 5 | 100.00% | 10 / 10 | 100.00% |
| Continuous Years Of Dividend Growth | 0 / 5 | 0.00% | 0 / 10 | 0.00% |
| Continuous Years Of Adjusted Dps Growth | 0 / 5 | 0.00% | 0 / 10 | 0.00% |
| Average ROE | 8.81% | 12.54% | ||
| Average Net Profit Margin | 15.41% | 20.38% | ||
Key Result
Key Result
| T4Q | Annualized | Annual (Unaudited) | Last 10 FY Average | Last 5 FY Average | |
|---|---|---|---|---|---|
| Revenue | 438,948 | 464,049 | 315,919 | 177,703 | 197,088 |
| NP to SH | 44,712 | 37,989 | 26,103 | 35,179 | 29,431 |
| Dividend | 26,538 | 8,846 | 19,903 | 23,470 | 29,482 |
| Adjusted EPS | 26.96 | 22.93 | 15.70 | 21.21 | 17.74 |
| Adjusted DPS | 16.00 | 5.33 | 12.00 | 14.15 | 17.77 |
NP to SH = Net Profit Attributable to Shareholder, EPS = Earning Per Share, DPS = Dividend Per Share
All figures in '000 unless specified.
EPS & DPS's figures in Cent.
Growth
Growth (By Quarter)
| LQ QoQ | LQ YoY | CQ YoY | LQ vs Average of T4Q | LQ vs Average of T8Q | |
|---|---|---|---|---|---|
| Revenue | 3.88% | 33.47% | 54.68% | 19.39% | 52.76% |
| NP to Owner | -104.36% | -121.22% | 188.29% | -109.34% | -114.50% |
| Dividend | 0.00% | -50.00% | -50.00% | 0.00% | -11.00% |
| Adj. EPS | -104.17% | -120.00% | 186.67% | -108.92% | -113.83% |
| Adj. DPS | 0.00% | -50.00% | -50.00% | 0.00% | -11.00% |
LQ = Latest Quarter, CQ = Cumulative Quarter, T4Q = Trailing 4 Quarters, T8Q = Trailing 8 Quarters, QoQ = Quarter on Quarter, YoY = Year on Year
Growth (By Year)
| T4Q vs LFY | T4Q vs AL5FY | T4Q vs AL10FY | AQR vs LFY | AQR vs AL5FY | AQR vs AL10FY | LFY YoY | LFY vs AL5FY | LFY vs AL10FY | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 38.94% | 122.72% | 147.01% | 46.89% | 135.45% | 161.14% | 229.38% | 60.29% | 77.78% |
| NP to Owner | 71.29% | 51.92% | 27.10% | 45.54% | 29.08% | 7.99% | 72.88% | -11.31% | -25.80% |
| Dividend | 33.33% | -9.99% | 13.07% | - % | - % | - % | -39.77% | -32.49% | -15.20% |
| Adj. EPS | 71.72% | 52.00% | 27.13% | 46.05% | 29.28% | 8.13% | 72.47% | -11.48% | -25.97% |
| Adj. DPS | 33.33% | -9.99% | 13.07% | - % | - % | - % | -39.77% | -32.49% | -15.20% |
T4Q = Trailing 4 Quarters, T8Q = Trailing 8 Quarters, AL5FY = Average of Last 5 Financial Years, AL10FY = Average of Last 10 Financial Years, LFY = Latest Financial Year AQR = Annualized Quarter Result, YoY = Year on Year
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  commonsense Excluding the one-off gains on disposals and the fair value loss on financial assets, 1Q19 result would have actually been a lot lower than the reported RM2.8mil profit (core profit would have been around RM500k). Investors are worried that the margins compression seen in 1Q19 will stay for the foreseeable future given the challenging market for piling services at the moment. Other piling companies like Econpile and Ikhmas Jaya also recorded lower profit margins in their recent quarterly result. With a depleting orderbook of only RM300mil (potentially can last until end of FY20) the company will be desperate in getting new contracts to replenish its orderbooks. The negative outlook of the construction industry (due to government decision to review, delay or cancel big projects) and property industries (developers are scaling back on new launches) might make it challenging for Pintaras Jaya to asked for higher margins when submitting their tenders given that there will be a lot more contractors eyeing for a smaller pie of any future projects. Near future earnings will mainly derive from the Singapore market (via their newly acquired Pintary International which has 70% of the orderbook value). However, it is still not sure what will the margins be for the Singaporean market. Full quarter contribution can only be seen in the 2Q19. If the company managed to achieve a Pat of RM10mil for FY19 (assuming the Singapore business managed to deliver a higher profit margin), at the current share price, Pintaras Jaya would still be valued at 38x PE which is very high for a company with limited orderbooks, declining profit margins and operating in the construction industry which is currently trading at an average of below 10x PE. If you are looking to diversify your portfolio outside of Pintaras Jaya (due to its relatively high valuation and weak earnings outlook), I would recommend you to look at MBMR. MBMR is a direct proxy to Perodua via its 22.6% interest in the company. Valuation is cheap at only 6.9x PE (based on target FY18 profit of RM145mil. 9m profit is already RM106mil). PB is low at only 0.7x BV. 4Q18 results is expected to be higher than 3Q18 and last year's 4Q17. FY19 growth will be driven by the still high demand of the new Myvi and the newly launched SUV Aruz and also the newly revamp Alza in 2H19. The recent announcement of closure and potential disposal of the loss-making alloy wheel manufacturing business alone is expected to boost the company’s profit by an additional RM20mil. I am projecting a profit to shareholder of RM170 mil for FY19 which at the current price values MBMR at only 5.9x PE. Please go through the analyst reports (https://klse.i3investor.com/servlets/stk/pt/5983.jsp) and do your own analysis before making any decisions. There are 8 analysts in total covering the stock with most of them having a TP of above RM3 (all have a buy rating). The average TP for the 8 analysts is around RM3.50. Good luck. 04/02/2019 5:22 PM chongyh84 Pintaras' foray into Spore is starting to pay off. If it weren't for RM7.8mil in FV loss in investments, the net profit for the 2Q19 quarter would have been at least RM9mil... 23/02/2019 9:52 AM scotthong PTARAS (9598) March 23, 2019 | HONG WEI GIET Technical Analysis =========== - PTARAS completed double top reversal on Aug 129 2018. (Duration: 1079 Trading Days / 3 years). It will have a great impact on shares price movement. - It reduced from peak with 48.10% since July 06, 2017. - There are 2 huge transaction volume on June 09, 2017 (High Volume-1) and April 04, 2018 (Hi More:- https://www.fundamental-technical-analysis.com/malaysia/author/HONG-WEI-GIET 23/03/2019 5:57 PM cefiro22 A total of 121 infrastructure projects worth more than RM13.9bil nationwide, which were offered directly and through limited tender by the previous administration, will go forward following cost renegotiation by the Pakatan Harapan government, says Finance Minister Lim Guan Eng Read more at https://www.thestar.com.my/news/nation/2019/03/31/121-projects-worth-almost-rm14bil-to-go-on-after-renegotiation-says-guan-eng/#jtjO1q8C6uSJiGgu.99 So, Piling Companies like Pintaras will be the first to benefit, so let's see the next few quarterly results before we take action to dump the shares now at rock-bottom prices. 31/03/2019 6:44 PM  VSOLAR Sailang Margin All In This one way too expensive look at Econpile! Much cheaper valuation! Much more potential too! 01/04/2019 10:30 PM cefiro22 TQ..for the update...positive news making it harder to collect this stock now with more positive upside. 05/04/2019 9:57 AM cefiro22 Waiting for price to retract,never happened... no choice bought at higher prices today. 26/04/2019 11:38 AM cefiro22 11:45:33 AM 2.610 17,400 Seller.....I wish I could ask him why he decided to gobble up the seller in one go! 26/04/2019 12:31 PM cefiro22 update...opened this morning up 9 sen... http://www.bursamalaysia.com/market/listed-companies/company-announcements/6240857 01/08/2019 9:07 AM perangbrown BRIEF-Pintaras Jaya Says Lim Chee Eng Appointed As Executive Director 19/11/2019 4:13 PM kai8994 7% dividend yield at current price with steady business outlook. good for defensive play 12/03/2020 3:54 PM  tradeview We like Pintaras Jaya for mid to long term for exposure to the construction sector. 24/04/2020 9:54 PM kancs3118 another rubbish stock - bored with local Malaysian hookers - decided to venture off to shag singaporean hookers~! 05/05/2020 6:42 PM kancs3118 Sampah stock ...Singapore has implemented the circuit breaker and foreigners are the highest contributor to the Covid19 pandemic....this will drag Pintaras 07/05/2020 7:05 PM donald770 This Covid will definitely derail its construction work in Singapore. But factoring this in I still consider worth holding for: 1.This Co could work to Singapore government strict requirements. 2.its balance sheet is healthy. 3.imagine Malaysian Co earning Sing dollar.. 4.Singapore govt has big cash reserves. Thanks. Pls share 20/05/2020 8:19 PM donald770 The loss was due to fair value loss loss of 15.1m for qouted investment. 29/05/2020 8:03 PM kancs3118 Pintaras Jaya Bhd has bagged a piling contract worth S$39 million (RM119 million) in Singapore. The 10-year contract will commence in August. In March, Pintaras Jaya had announced that it had won several piling contracts worth a combined RM116 million, with contract periods of between three and eight months. 02/06/2020 12:41 PM danchong Zhangliang, the market is back up in a hurry now to our surprise. Do you think they will write back the FV? 06/06/2020 11:48 PM danchong Very disappointed with the drastic dividend cut. Hope the management to rectify that in declaring the final dividend 06/06/2020 11:51 PM  zhangliang agree with u danchong! I don noe what they invest. But if the share they invest rebound, I think FV will rebound! 17/06/2020 4:46 PM donald770 It's a good stock but no active traders here. Don't u think they make more from business operations but write down their quoted investment. What is your take on their short n long term prospects with covid in Singapore ? Thanks 24/06/2020 6:01 AM Knownfact Agree with Zhangliang, next Q no operating profit & hope for some FV recovery. When work resume in Singapore then we can also see operating profit starting to roll out. Order book is good. 29/06/2020 2:28 PM 3101575000 I think Pintaras have good prospect since the boss is kind all the while to try hard for the business 12/07/2020 9:45 AM lionel messi yes, high dividend too when times are good. well managed with healthy balance sheet and zero gearing. good corporate governance unlike many listed companies who rip off minority shareholders. 27/07/2020 9:51 AM  |
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