bought back myeg at 95.5sen now

If RM strengthen back to 10 year ago
1. USD = RM 3.25
2. SGD = RM 2.55
3. POUND = RM 5.25

What will happen to all YTLP oversea business? Major earning contributor YTL seraya power will contribute less 25%, Jordan power and Indonesia power will contribute less 30%, wesses water will contribute 15% less and new upcoming Data center will become less competitive in global market as service charge is in more expensive RM, the earlier advantage on cost of electricity and water bill become less attractive due to strengthen RM

One quarter EPS is NOT enough to prompt market to give fair valuation. PBA need to deliver 2 or 3 consecutive quarterly EPS >15sen to convince market for fair PE x 10 valuation for these utilities stock or fair price RM 6. Therefore, current market price still have 100% potential upside in next 3 - 6 month, provided PBA can deliver sustainable EPS >15sen quarterly as water traffic rate hike is valid for 3 year period or till end of 2026 before next 3 year review

Most of profit earn however will channel to increase capex to built pipeline connecting dam to water treatment plant, increase water treatment capacity, built more water treatment plant, new pipe replacement to decrease non revenue water, all in is to increase water supply to meet water demand growth from 890MLD to 1350MLD by 2030. However. fraction of EPS will sill able to channel to increase dividend payout to shareholder to be in line with increament in annual EPS 60sen

PBA currently still in first phase of up trend, chart patterns very similar to Jan 2024. PBA share price will easily breakout RM 3.00 level, expecially toward next Q result.

As PBA only first deliver EPS after traffic hike, EPS >15sen, therefore, it need another quarter EPS delivery, sustain >15sen to roll out estimation annual EPS 60sen, which should convince market to peg fair valuation for water utilities share at PE 10x

🚀🚀🚀

Ayer Itam Bypass Update Sept 24 Ayer Itam - Tun Dr LCE expressway Penang Flying over with Drone 4K
https://www.youtube.com/watch?v=D8upR8FinOw

Latest new Intel USD7.1B Pelican Project Update -Will it continue despite slowdown? Sept 2024 OnSite
https://www.youtube.com/watch?v=BmnFpKkqj5k

Penang Chief Minister Chow Kon Yeow is optimistic that the northern island state, known as the Silicon Valley of the East, will be able to attract and retain its talent pool.

“There are more than 30 IC design companies in Malaysia, 28 of which are proudly based in Penang. The fact is that the talent pool is already established here,” he told ST, adding that its capital Georgetown is launching a new initiative called “Penang Silicon Design @5km+” to attract, hire and upskill vital talent

Loke proposes Steven Sim to lead Penang DAP

With the outcome of the upcoming Penang DAP election seeming to be a foregone conclusion, DAP secretary-general Anthony Loke has proposed Human Resources Minister Steven Sim as the new state chairperson, while Deputy Finance Minister Lim Hui Ying will continue as the state secretary.

Loke reportedly revealed this “Sim-Lim formula” during an exclusive interview with the Chinese language daily Kwong Wah Yit Poh published yesterday, urging party members to.

Remark: Sim is much better than Lim or Lim sister which is against PBA water traffic hike, ignore fact that Penang is lack water resources and yet want Penang continue enjoy super low water traffic at PBA expense on ever growing subsidy.

PH under Anwar is more realistic, Sim is good human resource ministers demand higher minimum wages. Cabinet are realistic that gov can not keep subsidy burden, it need cost pass through mechanism either in electricity or water

Dragon
For direct utilities exposures - YTLP and PBA

For cement and building materials exposures - Mcement

For hospitality - YTLREITS

After stripping out above gem, YTL construction profit margin is too slim either external or internal work

Market also have will give premium valuation to Mcement given fact that it is largest cement marker in Malaysia, control more than 60% whcih if including new market in SARAWAK, Mecemnt market share should even higher.

Dragon
If compared between YTL and Mcement, i still prefer Mcement for its direct exposure instead of conglomerate which often need to trade at discount level.

Upcoming MRT3, Penang LRT, JB BRT, HSR and more exposure in SARAWAK market aftet secure state gov import permit to expand cement market share to west Malaysia, Mcement also now is direct proxy to SARAWAK construction activities and may through SARAWAK also penetrate to kalimatam, new Nusatara capital

Dragon328
Yes, if without ome off impairments incur in Q4, it EPS will be 16sen.

Based on current strength in
RM against import feedstock, coal at USD cost and stabilise ongoing coal selling price, Mcement is expect deliver even better next Q profit forward.

Actually, among all category Domestic water traffic, individual meter only hike between 180%-200%, the highest rate actually incur on high rise apartment with bulk meter have double up water rate hike 400% from RM 0.35pm3 to RM 1.73pm3 and these rate is flat rate for all water consumption volume. Therefore, the more high rise apartment build in Penang the more higher income for PBA

The Light City - Sept 2024 FULL Progress update flying over Penang IJM Phase I & II, Stark Tower
https://www.youtube.com/watch?v=gmwpPwIYWVY

let's breakout RM 3

Mcement debt level have trim down significantly due to strong cash flow generated RM 1.2 billion yearly. Mcement balance sheet will like turn net cash position in 1-2 year time. Higher dividend is expected

Johor Singapore special economic zone, Many KSL landbank located in Skudai and Pulai, is prime beneficial

💪

Agreed😊

KSL can through dividend reinvestment plan to resume dividend policy to payout 30% and yet still conserve cash hoard to continue land acquisition for future more development project. The more project launched min future will in turn increase profitability.

These is win-win cycle and gradually enlarge company market capitalization through increase new share number issue via dividend reinvestment and higher market share price.

Uptrend resume, heading toward RM 3.00

Gtronic latest annual report, page 7-14, new director appointed, all link to SCIB (link to previous serbark scandal)
https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=232122&name=EA_DS_ATTACHMENTS

Newly appoint director that link to SCIB (same as previous serbak group) have successful siphon RM 65m cash out of Gtronic cash hoard via newly set up accounting prepayment receivable。 It will continue do so for remaining cash RM 120m holding in GTronic cited reason as new venture and expansion

Very similar to CEB, stiff and continuous tumble, follow by fake rebound to entrap more buyer, then tumbling again to engulf more victim

Agreed, all insider knows best
EPF sell
LTH sell
Director sell

added more Dsonic at 45-45.5sen

today also cut vstec at 2.85-2.89, avoid A1 related stock now

added more Mcement at 4.70-4.77

“Wallahi, satu sen pun saya tidak ambil😅

Saya tidak terbabit langsung dalam sangkaan buruk itu, kerana sebab ia berlaku sewaktu saya menjadi Menteri Pendidikan," katanya ketika ditemui selepas menghadiri kenduri rakyat di Kampung Bentong Luar, di sini, hari ini.

Dia (Najib) yang pilih, jadi kenapa ada yang membabitkan saya? Kontrak pun saya tak tengok dan apa-apa peruntukan projek itu disediakan oleh Menteri Kewangan

“Jangan ada yang buruk sangka kerana berlaku ketika itu saya menteri (pendidikan), saya tidak lihat kontrak, tidak tengok apa peruntukan, semua disediakan kerajaan, Kementerian Kewangan,” katanya.
"Ini ada pula cerita baharu berkenaan soal tuntutan palsu, saya pun tak tahu. Ini pun saya tahu selepas baca surat khabar," katanya.

Tan Sri Muhyiddin Yassin menegaskan beliau tidak mengambil 1 sen 🤣pun dalam pemberian tender perkhidmatan 1BestariNet semasa menjadi Menteri Pendidikan

PUREBULL
For utilities stock exposure, PBA is better than YTLP. Almost all YTLP earning is derive from oversea such as Indonesia and Jordan power in USD, seraya power SGD, Wessex in POUND. In contrast, PBA is sole water supplier in Penang and begin enjoy recent water rate hike

Very soon these group of new syndicate director will siphon out cash in Gtronic

Oil tumbling, Dayang major earning contributor to naim will be affected

cut at 1.09-1.13

EPF will ease to be shareholder as it have cut down stake from 13% to current level 5.2%, will soon announcement will be make in bursa.

Take note, EPF have commence selling Gtronic ever since APB emerge as shareholder which in turn control Gtrinic board and management. These group of director are link to scandal serbak and trouble SCIB.

Just check latest Gtronic annual report and its newly form board director and management team, all of them are from SCIB and previous Serba group, you will notice why EPF keep selloff

Locked profit first is also learn that Gtronic management and board director have change to syndicate liked to SCIB as same director have seen appointed on Fed 2024 and are now control Gtronic board.

locked handsome contra profit is better in these volatile time

sold back at 59-60sen

Don ever try to compare change auditor between serba and GTRONIC.... Serba is alarm bell by auditor which is in mountain sky high debt vs. GTRONIC which is in strong net cash position

PENANG, 10 SEPTEMBER 2024 – Globetronics Technology Bhd ("GTB" or the “Group”),
an established player in the Outsourced Semiconductor Assembly and Test (“OSAT”) and
semiconductor industry wishes to announce that it has received a written notice dated 4
September 2024 from Messrs. KPMG PLT, expressing their voluntary resignation as Auditors
of the Company. Pursuant to Section 281(2) of the Companies Act, 2016, KPMG PLT’s
resignation will take effect 21 days after the notice, i.e., on 25 September 2024. This change
is in line with the Group's new strategic direction, influenced by newly emerged shareholders
and management.
The Management of GTB commented, "We extend our gratitude to KPMG for their long
service and look forward to maintaining a positive relationship as we transition. It is important
to note that the financial reports so far have not been audited by KPMG for this year, ensuring
there is no impact on our financial integrity from this transition. We are actively enhancing our
auditing processes to meet the highest standards of accuracy and transparency.
Subsequently, we have shortlisted UHY Malaysia as our new auditor, pending the completion
of official documentation to formalise the appointment and ensure consistency with our
strategic objectives."
The Board of Directors (“The Board”) of Globetronics Technology Bhd would like to emphasise
that this transition will not impact the operations of GTB. The Group remains focused on its
business activities and will continue to meet all regulatory obligations during this period. The
Board is confident that this change in auditors will ensure seamless continuity in the financial
reporting process.
GTB remains committed to maintaining strong corporate governance and transparency for the
benefit of all stakeholders.

EPF have cut Gtronic stake to 5.18% now. It will soon ease as substantial shareholder after consecutive trim down its stake from 87.5m (13%) in Mar 2024 share to current 35.6m (5.1%)

Just last year, APB acquire Gtronic at RM 2/share. Current share price 54sen is bargain price now
https://www.thestar.com.my/business/business-news/2023/12/18/apb-proposes-acquisition-of-1041-stake-in-globetronics

EPF will ease substantial shareholder soon

With its stock down 47% over the past three months, it is easy to disregard Globetronics Technology Bhd. It seems that the market might have completely ignored the positive aspects of the company's fundamentals and decided to weigh-in more on the negative aspects. Long-term fundamentals are usually what drive market outcomes, so it's worth paying close attention. In this article, we decided to focus on Globetronics Technology Bhd's ROE

bought Gtronic at 54sen

Since KSL already approve dividend reinvestment plan in last AGM, it will propose dividend either in next Q3 as interim dividend or final dividend in Q4

bought ksl at 1.72

bought naim at 1.13-1.14

If check MCEMENT latest Q result, it cost of sale have decrease significantly, boosting it's Pretax profit margin to 40% from 30%. However, net profit increase only smaller due to one off impairment RM 131m. Stripping out the impairment, MCEMENT EPS in actual can deliver 16sen instead of 8sen.

Next coming Q result will be very interesting, if revenue sustain at current level, profit margin will further increase from current 40% to up to 45% due to significant 9% weaken USD cost currency on import cost coal. Next EPS could range 18sen-20sen