Posted by necro > 2013-05-08 17:51 | Report Abuse

Dafuq nothing special!!!!!!....

Posted by kcchongnz > 2013-05-08 18:46 | Report Abuse

Perisai never stops to amaze me. Its share price went up by 5 sen to 1.27 today. Every investment banks and analysts have been recommending to buy this share since at least 3 years ago with all the promising earnings projections in the oil and gas industry. Yet year in year out, I see stars in its financial statements. Take for example the 1st quarterly result for 2013. Net income of just 15.5m or 1.58 sen for continuous operations. The worse part is its cash flows. Cash flow from operations (CFFO) is only 8.2m. And the CFFO includes the cash received for its discontinued operations of 10.2m, without that, it would be negative CFFO. But how could cash received for discontinued operations which is one-off be considered part of the CFFO? Is there inappropriate booking of this cash flow? I think so. Payment for capital expenses in plant and equipment for the first quarter amounts to a whopping 65m! Where to get this money?

This negative performance of Perisai is also evidenced from its balance sheet. Total debts remains high at 335m, or as much as its equity, not much change from last year. This is despite of 86m received from the private placement last year. Ever wonder why no dividend has been declared for a long time already.

I really wonder why all analysts still strongly recommend this rubbish!

Posted by Lotusf1 > 2013-05-08 19:22 | Report Abuse

Agreed:i kept looking away from these stocks ...stilll no dividend i sight.demand went up at snail pace n drops n up.: a roller coaster type volatilties -perhaps of their debts n no dividend polcies!

Posted by necro > 2013-05-08 19:30 | Report Abuse

Better buy DAYA...

Posted by fishbone > 2013-05-08 20:28 | Report Abuse

Agree..now it's too expensive, for a stock with 0 dividend!

Posted by kcchongnz > 2013-05-09 07:32 | Report Abuse

The Unloved Altman Z Score
Z = 1.2X_1 + 1.4X_2 + 3.3X_3 + 0.6X_4+1X_5

From the annualized results of Perisai, Z=2.2

When Z is >= 3.0, the firm is most likely safe based on the financial data.
When Z is 2.7 to 3.0, the company is probably safe from bankruptcy, but this is in the grey area and caution should be taken.
When Z is 1.8 to 2.7, the company is likely to be bankrupt within 2 years.
When Z is <= 1.8, the company is highly likely to be bankrupt.

No, I am not saying Perisai is going to bankrupt in two years. The Altman Score is just a guide. But there are so many good companies in Bursa, many of them in oil and gas also, why this "sai"?

Posted by faberlicious > 2013-05-09 08:16 | Report Abuse

probably bcoz all those analyst n fund managers who cover this stock has received "goodies" from management to promote their company.These stupid analysts all don't know how to read Perisai's financial statements ah?

Posted by 1901 > 2013-05-09 10:52 | Report Abuse

Don't say "stupid analyst", they get paid handsomely ma to dish out rubbish for their master. Nowdays, I still read their analysis, the more "rubbish" they churn out only means one thing to me, they are serious in their agenda... so ride along and ALWAYS be prepared to jump out of the roller coaster after your target reached.

There are 3 types of lies - lies, damn lies and statistics. - Benjamin Disraeli

don't worry kcchongnz, continue to dish out the good counters, they will move up ONE day when everybody is still sleeping.

Posted by Junglestock > 2013-05-09 11:01 | Report Abuse

Daya is a better consideration?

Posted by 1901 > 2013-05-09 11:30 | Report Abuse

financially they hold free cash, revenue increasing, profit increasing trend for last 5 yrs. I'm just waiting "an analyst" to start writing about them to and spur the technical chart....

Posted by faberlicious > 2013-05-09 11:34 | Report Abuse

ya lah,must thank bro kcchongnz for sharing his stock picks.

Posted by kcchongnz > 2013-05-09 11:34 | Report Abuse

Daya is 10 times better than the "sai". Oop the "sai" has been moving up. sorry ah, I am not talking about share price. I am talking about how good a company is.

Posted by iafx > 2013-05-09 11:36 | Report Abuse

hahahahaaaaa....

Posted by kcchongnz > 2013-05-09 11:40 | Report Abuse

I am "glad" you enjoy my humour.