haha i understand it's hard to be civilised when stuck with big losses. if buy, rmoi don't like it. don't buy, puncak die faster. management will just happily take salaries and fees by doing nothing

the results really way worse than expected

at the very least cashflow is still great despite the earnings volatility

if rozali offers to you and not to others, that's "oppressive" to them. if he offers to everyone then that's a privatisation. if he offers 2.50 today do you think anyone with a sane mind won't take it? you could argue that puncak is trading at around RM1 thanks to that cashpile, without which Puncak is worth almost nothing. so why would rozali just give it away when he needs it to finance the acquisitions?

like I said before, triplc shareholder has much less to worry compared with Puncak. from day 1 we already knew that puncak side most likely is going to go through (only 50% needed), it's triplc side where minority shareholders may reject the deal since they are now aware of the deep value of triplc's land and concessions. and even if the deal fails, triplc can look forward to better earnings while puncak continues to struggle and wait till the plantation matures

luckily could collect some when pressed down this morning. it's a good stock which is getting better

once it clears its borrowings, more than half of its market cap will be in cash. but more importantly, track record seems to suggest that the company is willing to return cash to shareholders

an analysis may not be complete without taking into account insiders transaction, especially in Malaysia. for example, clearly insiders knew about lii hen's results and special dividend, so a few days before results price ran up from 3.20 to 3.50 so profit taking after that is not strange

kyy really on buying spree...

Just my views on latest quarterly results

1. Revenue, especially from construction, is ramping up nicely (which is not unexpected considering their large orderbook)
2. Construction margins drop from 37% in Sept to 26% in Dec. This is a nice surprise as no one expects such margin for construction. I supposed once the higher margin works from the final phase of Duke 2 and initial works of SPE are completed, margins will normalised but hopefully by then the revenue would have ramped up much higher
3. Latest orderbook outstanding based on my record is around RM6.1b (excluding 3 new highways)
4. Property segment growing nicely, now contributes more than RM6m operating profit per quarter
5. Toll revenue and profit has recovered after slight drop in past quarters since the toll rate hike

Overall, better than expected results. I have highlighted before merely focusing on PE and you will miss the big picture. But surprisingly PE is collapsing faster than I expected.

Btw, EkoCheras (RM2.1b GDV) seems to be progressing nicely. Will probably complete by 2018
http://www.bursamalaysia.com/market/listed-companies/company-announcements/5347117

risk reward still doesn't make sense, wait for it to retrace first

that's why yesterday I said too optimistic. a lot of traders just wanted to have a piece of it, then panic sell since they thought can fast in fast out. retracement is good for serious investors to accumulate

No because takeover code governs takeovers, not normal corporate deals, those are under Bursa listing requirements.

btw, that's my point why a capital repayment to selected minority shareholders is not legally possible because that would be oppressive on the others. if you extend to everyone then it's a takeover already. SC cannot force major shareholder to takeover his own company

even though I agree it's still undervalued, 2 consecutive limit up is still too much lah. don't forget the 3 points that I highlighted that are still holding back their PE, it will take some time but I'm optimistic they can

those retailers that sell I think KYY will happily absorb, especially if next week results really turn out as expected. he buys when he sees the potential of EPS increasing and held tight to them. this time bcos he's forced to disclose his stake, wait till he comes out and hard sell Jaks then only you sell

like I said last quarter, since the MAVCOM ruling, cannot assume Tune will grow together with AirAsia passenger growth anymore

I think this can be another of my dumb dumb hold stocks after ekovest, of course unless something changes :)

with so little stocks available, institutional investors must have get it cornered, we just lay back and watch it fly

congrats everyone!

be more realistic, break 6 then head for 8 first

liquidity is relatively low for a company >RM1b, can fly in no time

the world is so gloomy now hope this stock put a smile on your face, at least for today

you already can sell your split shares now if you want

@xcelcap please sell to me if you have any. more than willing to take it

thanks sumato88

although I find the correlation between tapis and petron's results weaker, shall dig more into it.

and may I say last few days was the battle of informed investors and sharks who tried to press the price down and informed investors won handsomely. kudos to those who stood firm and kept everyone informed

congrats everyone!

just search genting election csr you know what it's about

this number of shares just nice. no need to be crowded. once people notice the stock naturally liquidity will come

harris is already hoarding cash. I won't be surprised if Ekovest will do "CSR" during election like Genting last time

it's typical kyy stock, eps expected to improve. but be very careful once he starts to sell...

shell is just refining. closest to Petron is PetDag. I think the difference in PE is

1. PetDag has cleared all the borrowings
2. PetDag has more petrol stations and stronger branding in Malaysia
3. PetDag has more consistent earnings

Point 1 can be solved in no time. Point 2 Petron is still working hard on it and Point 3 I hope they can achieve it. then 15-20 times PE is not a dream

today is a good day, Ekovest/Petron/Jaks all up

like what other have said, after split people tak rasa, just buy

din notice it's the limit up price already

long queue, hard to top up (:

Thanks for the article

1. USD appreciate does hit them as expected, this is consistent with what they guided in annual report. but the increase in revenue and GP margin just blew all these away

2. is it possible for your friend to share which crack spread does M'sia companies like Petronm relies on? I tried looking at various crack spread and so far Petronm results seems to have higher correlation with the European ones rather than the Asia Tapis one

next quarter likely to remain good since retail petrol price still on strong uptrend.

I think once petron's earnings can stay consistent and clear their borrowings, market could re-rate it to around 15 times PE, slight discount to Petdag considering the size and branding

this kind of results with no near term turnaround, I wonder what are the shareholders waiting for

strong brand, strong free cashflow, good dividend, what not to like about this company? now only if they can keep their profit more consistent then sky is the limit

I didn't buy a lot because I'm fairly new to this company. there are others who are here longer and understand the company better that should take the credit

let's hope for a good show tomorrow onwards! just remember your destination is still there, it's only whether you are on the fast/slow lane of the highway

wow mind blowing results, congrats to all petronm shareholders

this thread is getting quiet

now I'm really interested to know how the dec results will turn out

kenanga is one of the dodgiest research house in town and CIMB reputation hasn't actually been great in recent years, before or after that vivocom incident. be careful of what you are promoting

but careful, 4Q results may be weaker from its construction division. they already met the profit guarantee in 2016, so might want to delay the recognition to 2017

honestly do you expect the analyst to talk bad about rozali's character in a publicly available report? he can get sued for that. warning about the future is as good as they can do

that's why I say you don't understand. there's no partial capital repayment, it's either straight takeover via offer or capital reduction. if they want to sweeten the deal, pay dividend, that's all they can do and what shareholders can demand within the legal framework

if you want otherwise, you have to change the laws first. just like our parliamentary system, leader of coalition that wins the majority seats is PM, pakatan can either win the election or ask to change the laws, but they cannot ask now for direct voting for PM like US

it's commonly known as value trap. that's why investing solely based on net assets or net cash is not advisable. there are some differences between Puncak and Triplc.

Triplc will be a PN16 counter which means they can't touch the cash without approval and they will need to regularise their condition within 12 months, most likely an RTO. that's why Triplc is actually closer to Tecnic or Abric.

Puncak's problem is they still have some loss-making assets and very bloated overhead expenses. Plus, they have a free hand in managing the cash and has unlimited time for them to do so. I agree that the plantation deal was relatively pricey and has long gestation time but for Triplc deal, it's Puncak who actually got a better deal than Triplc if you ask me

plenty of people have answered these basic questions, please read back the comments or articles