FY No. Rev PBT PAT EPS YoY
Dec19 3 166,482 22,650 17,447 4.37 Malaysia Stock - KLSE Quarter Report History 115%
Dec19 2 180,581 8,706 8,022 2.09 Malaysia Stock - KLSE Quarter Report History 15%
Dec19 1 151,652 1,471 777 0.20 Malaysia Stock - KLSE Quarter Report History 89%
Dec18 4 199,950 22,823 20,823 5.42 Malaysia Stock - KLSE Quarter Report History 13%

REAL LAZY!

NTA IS RM1. 14 AND NOT RM0. 114

Isaac Newton Quotes
If I have seen further than others, it is by standing upon the shoulders of giants.

FPI is standing on the shoulders of Wistron, a consecutive 10 years (2009-2019) Fortune 2000 company, and qualified Fortune 500 3 times during the same period.

The 3rd plant for rent to Roland completed and started production in the 2HFY2020.

Apparently, Roland is moving more manufacturing to Malaysia from China due to the trade war and higher tariffs for products made in China.

Wistron, the major and Controlling shareholders of FPI, is channeling more orders to the Malaysian Plants, both in Port Klang and Sungai Petani, apparently due to FPI is a beneficiary of the US-China Trade War.

The revenues have been growing quarter by quarter and exploding.

Expect full FY2020 EPS =18 cents and dividend, 12 cents as projected by Dr Neoh Soon kean's research house, Dynaquest.

Due to share divestment by PNB, and which should have finished, the share price present cheap entry as it is still depressed due to the sales by PNB earlier and by the profit takers.

Added more..

Temasek should take it private.
Share price lack luster and thinly trader.

Promote to sell to you..

http://worldpopulationreview.com/countries/malaysia-population/cities

In high gear to complete 233km West Coast Expressway
https://www.thestar.com.my/business/business-news/2020/01/11/in-high-gear-to-complete-233km-west-coast-expressway

For us, it does not matter if the population is small, we will connect to anywhere along the WCE where there is a population. Even if there is no chicken (matured development or sizeable population), we will connect our highway and bring the egg there!” quips Neoh.

EXCELLENT!! LOL!

Toll rates will only keep coming down
https://www.thestar.com.my/business/business-news/2020/01/18/toll-rates-will-only-keep-coming-down

Discount rate 3% is too low.

Company in expansion mode ever since Wistron took over the controlling shareholdings in 2014


Capital Expenditure since FY2015

Purchase of property, plant and equipment.
9M2019 - 9. 373M
2018 - 20. 754M
2017 - 23. 049M
2016 - 18. 960M
2015 - 24. 607M

Just joined the train captained by Wistron, a Forbe 2000 company in the past 10 years.

Dutch Lady had a bonus issues of 3 for 1 in 2002

Inthe early 90s it was traded at 6-7 b4 bonus... It went up to 76 ex the 2002 bonus, meant 300 b4 bonus.. It gone up by 40-50 times..no yet taken in handsome dividends.. It is a true Champion...

benykp,

I didn't mean that it was you and isn't you.
Thanks.

I sold and I told, some more with mentions of my doubts. I could be wrong.
In stock market, there is no right and no wrong especially when facing with uncertainties.
Just be a gentleman.
No need to be bitter if someone made money, sold and got out.

Good luck.

1. No more 60 years concession, only 44 years now
2. No more competitive advantage to NSE due to the 2 stretches total 83 Km toll free, built by the govt as the toll rate is 53% higher as compared to NSE (17.55 cents per km vs 11. 44 cents per km). Toll fees via WCE and NSE on the long haul is now more or less the same. No diversion of traffic from NSE to WCE.
3. Tolls are relatively expensive for those local folks who need to commute daily. Most likely they will minimise travelling via the tolled road.

Traffic volume in doubt.

Interest payments for the rm4. 74 billion ++ loan is about Rm300 millions per annum..

When there is a change in the fundamentals or assumptions made, stay out.

When in doubt, stay out.

Good Luck.

QR in Feb will be a bomb...and subsequent QR will be in RED...
Taken profits.
Good Luck.

https://www.marketsandmarkets.com/Market-Reports/smart-speaker-market-44984088.html?gclid=CjwKCAiAsIDxBRAsEiwAV76N8-E2AXxLUztCXjYnx_QQCFFmst1Wi7-QLkLvYolZHZ4nUFq1U426qBoCe3kQAvD_BwE

"The overall smart speaker market is expected to grow from USD 1.57 billion in 2017 to USD 11.79 billion by 2023, at a CAGR of 34.44% from 2018 to 2023."

It's more likely a triple top @0.4

Noted that as of March 21, 2019 and listed in the AR2019 as the 30th largest shareholders, Dr Lin See Yan, the former Bank Negara Deputy Governor, holds 1,000,000 PIE shares.

Notably, Mak Tian Meng was the third largest shareholders, holding a 3.1% stake.

Mr Mak was the GM of Ong & Co, a stock broking house in Singapore. He was invited by Dr Lin See YAN to be advisor to Pacific Pearl Fund and Pacific Premier Fund during the Asian Financial Crisis in the late 90s. Read interesting attachment below. A very successful investor, Mr Mak Tian Meng, invested big in PIE.

https://www.interpac-asset.com.my/chapter-16-when-to-sell-investment-lessons-from-a-seasoned-investor-mr-mak-tian-meng/

WCE would be a tolled Road for long haul heavy vehicles plying from port to port. NSE would be much more pleasant to travel for the public.

Government came out with a " win-win" for both WCE and PLUS... I suppose.. However, without light vehicles diversion from NSE, and the local folks would probably shun away from the high toll rate tolled roads, it will take a long time for wcesb to breakeven..

Total construction cost upon completion estimated at rm 6.69B, 80% loan is rm5.35B. Wcesb so far obtained total loan amounting to RM4. 74B

Only worry the traffic would not be able to sustain interest payments.. there will be higher amortisation since the concession period is shortened to 44 years from 50 years.

Tolls for short distance travel by the local folks who are financially no so well of, become much more higher. Would they choose to travel on the new WCE tolled roads or stick back to the toll free old roads?

Wce loan is rm 4.74 B
Construction cost RM6. 69 B

It will take much longer time for WCE to build the traffic to sustain. Only those living along the coastal areas would take wce, there would not be traffic diversion from NSE except heavy vehicles, I believe.

I think the 83 Km toll free competitive advantage of WCE against NSE, is taken away purposely to protect diversion of traffic from NSE to WCE.

The distance is shorter from Taiping to Bukit Raja via WCE, it is about 248km while that via NSE is about 272km. Only a difference of 24 km.

The toll fee on NSE On class 1 vehicles would be about rm31 whereas via WCE is about rm 29 (take Kampong Lekir to Bruas, 45km toll fee of rm7.9, gives a toll rate of 17.55 cent per km). So traffic from the Greater KL or the Klang Valley will take NSE..

Heavy Vehicles from port to port would ply WCE. Class 1 vehicles on the long haul would prefer to travel on NSE.

But the toll rate reduction of 18 % by Plus is no good to WCE. The concession period is reduced to 44 years instead of the original 50 + 10.

WCE has no more competitive advantage though there are 2 stretches of a total 83 Km toll free sections built by the government.

Plus and thus NSE is going to reduce toll rate by 18%...and the toll rate of WCE is fixed at so much higher than the existing NSE toll rate of 13.96 cents per km, the NSE toll rate would be 11.4 cents after 18 % discount.

Earlier on, it was reported that WCE toll rate would follow that of NSE but now it turned out that WCE toll rate per km would be 35% higher on per km basis..

What would be the impacts on the traffic flow?
Would there be diversion of traffic from NSE for the long haul, be it North bound from JB and the South Or South bound from Penang and the North?

Those light vehicles that used to travel on NSE are likely to continue to remain with NSE as there is no incentive to divert to WCE which would be plied with a lot more heavy vehicles, hoping that it would not be causing traffic jam... lol..

Taiping to Bukit Raja is slightly shorter compare to via NSE. The total toll fee maybe about the same but via WCE the terrain is flat. Heavy vehicles will tend to use wce. After the diversion of more vehicles to wce, light vehicles may continue to remain in NSE...

WCE will see local short distance traffic and mainly heavy vehicles for the long haul.. I presume..

Plus concession will expire in 2038... Would it be extended by another 20 years or 25 years to expire in 2058 or 2063 to coincide with WCE?

There would be less long haul light vehicle traffic diversion from NSE to WCE...

Increase toll rate and reduce concession period to protect Plus (Khazanah and EPF)?

Kg Lekir to Bruas 45 Km, class 1 vehicles rm7. 90, 17.55 cent per km..

Plus now 13.9 cent per km..

Concession till 2063, 43 years instead of 50 +10...

If Plus reduce by 18 % per km, it would be 11.4cent per km, which is 35% cheaper than 17.55 cent per km...

For long haul, the total toll fee would be about the same comparing NSE and Wce from Bukit Raja to Taiping....though there are 2 stretches of total 83 Km toll free road built by the government along wce..

Better write in Chinese

P I E does not depend on Foxconn or the holding company Pan International, Taiwan for business. They also have customers sourced and dealt with directly.

"Our manufacturing sites reside in low cost regions including:

China
Malaysia
Thailand


Stated therein..."

So P. I. E would benefit due to the US - China Trade War

Surely the holding company in Taiwan not doing well as they have manufacturing sites in China, affected by trade war. As a result, can expect more diversion to Malaysia and Thailand.

http://www.panintl.com/services-overview.htm

After breaking 1.60, it will fly to the Moon

All 3 are goreng stocks.. Intention is highly suspicious

Section 8,toll free since 31st May 2019, Section 9 and 10, toll free since Sept 23rd and Section 5 toll free since Mid December..

It is not free to WCESB. Interest costs on loan drawn for the few Sections will be debited in the Income Statement as expenses in the coming QR.

On Elliott Wave Count, now likely at the tail end of consolidation wave 2 after wave 1 rising from 1.09 to 1.55

The next upwave, wave 3, which is longer and would move higher, will lift the price up by 1.618 times of (1.55 - 1.09), 74 cents, to surpass RM2..

My 2 cents..

Cheers!

13. Neoh Choo Ee & Company, Sdn. Berhad 2,079,000

Dr Neoh Soon Kean, a Malaysian Guru in investment holds more than 2 million shares in PIE via the above account since more than 10 years ago and is still holding..

The controlling shareholder of PIE is Pan Global which is majority owned Pan International from Taiwan. And more importantly, FOXCONN owns majority shares in Pan International..

PIE can source for purchases at competitive prices since the company is a member of the FOXCONN group of companies.

https://www.theedgemarkets.com/article/can-alliance-bank-remain-standalone

Temasek Singapore akin to Khazanah Malaysia

Can expect good management qualities.

Temasek Singapore controlled DBS Bank, owned 29+% of ABMB.

Both CEO of DBS and ABMB are from Citibank, after long service.

PIE Quarter Report History
FY........ No.......Rev........PB.............PAT.... EPS Trend
Dec19 3 166,482 22,650 17,447 4.37 +115%
Dec19 2 180,581 8,706 8,022 2.09 +15%
Dec19 1 151,652 1,471 777 0.20 - 89%
Dec18 4 199,950 22,823 20,823 5.42 -13%
Dec18 3 174,422 14,090 8,118 2.11 +335%
Dec18 2 141,624 8,736 6,984 1.82 -35%
Dec18 1 145,260 9,736 7,218 1.88 - 38%
Dec17 4 183,287 31,212 23,860 6.21 +1%

2 consecutive of earning growth especially the last quarter, 3Q2020. fulfilling the so called KYY Golden Rule, Traditional 4Q is the strongest Q. Prospective PE trending towards 10 and below.

2,016,992,878 rcps was issued and raised rm484 million. Oversubscription money, mainly from the 3 major shareholders, was returned.