Based on a May 2014 RHB report, Pantech should be getting an extra RM300-400m sales annually from just the RAPID project between 2015 to 2018. This should translate into an extra RM25-35m profits p.a. Coupled with its existing operations, the company should be reporting RM80-100m profits in a couple of years' time. This implies the company could now be trading on just 6x 2016 PE!

From the above thread, it appears many are losing patience on Pantech. PLEASE DON'T. Worst is almost over. Results from 3rd quarter onwards will show growth. Stronger growth will be evident by next year when Rapid kicks in. Meanwhile downside will be limited by EPF's buying and 4% dividend yield. RM1.50-1.80 12-month price target achievable.

EPF has just announced that it had accumulated 5% of Pantech shares as of 21/7/2014

Results are roughly in line. Moderate growth will be seen in 2nd half. RAPID growth expected only in 2015. Meanwhile given the 4% div yield, there is low downside risk.... unless there is a major market correction...

Some investors were hoping for a huge dividend or capital payout after the sale of Puncak's water assets. But now it appears not - the MD might give a small special dividend of maybe 20-40 sen, but the bulk of the surplus fund will be invested into other businesses. The big letdown was the proposed investment into plantations, which have a long gestation period. Also, investors might be worried about the purchase price of these businesses/assets.

What padini management should do is map out a 5-year outlet expansion plan, which must include the regional markets. If they continue to only concentrate on the local mkt, soon (say within 2-3 years) they will reach a saturation point.

A catalyst for this stock to move higher is the sale of pipes and fittings to the pengerang project. However with earthworks and infrastructure just beginning, it will not be until early to mid 2015 before such sales materialise.

DESMOND CH"NG:- among several padini research reports I've seen, yours is among the better ones - its thorough, logical, consistent and systematic in analysis. keep it up!

simon, this is the conversion of the pmetal-la into the mother shares on a 1:1 basis. There are still about 124m la's available for conversion, of which 106m are held by the directors.

to hongsaw407 -- this is just the listing of those shares which were placed out last week.