I am personally from the O&G industry who is involved in the Rapid Petronas project and I can say with conviction that this company's future is dim. This company is being battered by suppliers from KL who are unlisted companies who have the nimbleness and flexibility to supply these valves and fittings to their customers in Rapid. Their competitors are able to offer credit terms and have great service to boot. Even companies in Singapore are snatching some market share away from this company despite having a warehouse situated within the Pengerang area. Pantech IMO is getting complacent and is encumbered by incompetent management personnel, uncompetitive pricing and poor service. All these factors have been witnessed firsthand. Speed is paramount to success in a trading company and getting a quote from their team is no better than going to the government's offices. They used to be better, and have a great range of products- but in recent times as you can see from their share trajectory, are starting to flail in the dark. I have personally dumped this share after having made a profit but at the same time followed them to track their progress and to confirm my conjecture. Looks like I was not wrong in this case.
PS. I have personally dealt with them and their equivalent competitors, hence my views above. However, they do not represent a buy or sell recommendation but you readers should know where I stand. Happy investing.
Stock: [PANTECH]: PANTECH GROUP HOLDINGS BHD
2018-08-16 11:52 | Report Abuse
I am personally from the O&G industry who is involved in the Rapid Petronas project and I can say with conviction that this company's future is dim. This company is being battered by suppliers from KL who are unlisted companies who have the nimbleness and flexibility to supply these valves and fittings to their customers in Rapid. Their competitors are able to offer credit terms and have great service to boot. Even companies in Singapore are snatching some market share away from this company despite having a warehouse situated within the Pengerang area. Pantech IMO is getting complacent and is encumbered by incompetent management personnel, uncompetitive pricing and poor service. All these factors have been witnessed firsthand. Speed is paramount to success in a trading company and getting a quote from their team is no better than going to the government's offices. They used to be better, and have a great range of products- but in recent times as you can see from their share trajectory, are starting to flail in the dark. I have personally dumped this share after having made a profit but at the same time followed them to track their progress and to confirm my conjecture. Looks like I was not wrong in this case.
PS. I have personally dealt with them and their equivalent competitors, hence my views above. However, they do not represent a buy or sell recommendation but you readers should know where I stand. Happy investing.