Posted by cendana287 > 2012-09-25 23:54 | Report Abuse

Agree with @ismahdimohdnor and @Shanu. Great company but it's facing a huge psychological barrier in getting to 1.00, and then past it. Every time it threatens to do that, there seem to be hesitancy, people take profits or cut loss and the upswing inevitably fizzles out. It then slides to 0.89 or so and the process starts again. And again.

This has been going for months. But if it does go to 1.00 - and I believe it will sooner or later - it will likely not come down again.

Posted by Hong2 > 2012-09-29 21:19 | Report Abuse

Would this be one of targeted o&g post budget?

Posted by profit profits > 2012-09-29 22:44 | Report Abuse

i used to hold this stock until i found out below 2 facts :
1) though it makes profit but the board will not give you any divident or bonus. like tgoffshore they tell u they r keeping the profit for more investment and unless they r so lucky, if they make one big mistake they all the past profit will be gone, by then those who waited patiently may get divident if this co sell their property. (like tgoff they gave u 44sen tax free divident, not BIG deal but BUG deal) !)

2) there is one trustee a/c under ocbs with 45m shares, they will profit taking when price reach 95-96 sens, can u fight them. ?

there r so many foreign fund in this counter and is hard to predict when they r going to throw the shares. can u affort to fight them again ?

Posted by ronnie90 > 2012-09-29 23:33 | Report Abuse

I am surprised with this counter. Good company but cannot get past 0.95.

Posted by kcchongnz > 2012-09-30 03:28 | Report Abuse

Great company? Good company? That's also what the investment banks said. Give me your reasons why do you think so, with facts and figures. I will dispute you.

Posted by iraymond > 2012-10-02 16:04 | Report Abuse

Zainol Izzet has a 49% stake in Perisai Offshore Sdn Bhd?(PPL holds 51%)

Posted by cwkhor > 2012-10-03 08:34 | Report Abuse

kcchongnz, why this is not a good company? I will respect you if you can point out what mistakes do the investment banks make.

Posted by kcchongnz > 2012-10-03 09:36 | Report Abuse

Why is AirAsia not a good investment?
1. All over the world, airlines have been losing tons of money with very few exceptions. It is an industry with little moat. AirAsia appears to have made money for the last few years. Is it an exception? Not when you look at its cash flows which I think is more important than earnings which can be easily manipulated.
2. When I invest in a business, I want to receive cash return every year. Just telling me you make so much is not good enough. Show me the money. Airlines spend heaps of money for capital expenses every year and there is hardly any free cash flows. Air Asia is not an exception. AA has negative free cash flows of hundreds of millions and even billions every year (only exception is last year). Hence in order to sustain its operations, it has to continue borrow more money every year. For the first two quarters of this year, free cash flows turned negative again.
3. Because of the above, AA’s total debts have increased to 8 billion! Debt to equity ratio is high at 2 times. Debts have increased unabated from a few years ago. This makes its business very risky. Where are they going to get money to take possession of new aircrafts costing billions they have committed?
4. AA’s return of equity at 15% is poor, considering it is using a very high financial leverage of 3.5 times because it has a very low return of assets of 4.5% only last year.
5. Yet at the price now of 3.06, it is trading at a PE ratio of 13.5 and price-to-book of 2.1, very high multiples in my opinion in view of its poor balance sheet and cash flows.
Why do investment banks recommending buying of AA? There are many reasons. Huge amount of conflict of interest is the major one.

Posted by kcchongnz > 2012-10-03 09:40 | Report Abuse

Sorry man,
Posted the wrong thing here.

Posted by kcchongnz > 2012-10-03 11:07 | Report Abuse

Why is Perisai not that good an investment as it appears to be?
1. There is this doggy related party transaction a year ago when a MOPU was sold to Perisai at an inflated price of 210m by Garuda, about twice the price of a similar one, on top of another 120m debt carried over to Perisai. If that MOPU is so good, why wouldn’t Nagendren kept it himself?
2. In Perisai’s latest balance sheet, it has a huge total debt of 465m, a debt-to-equity ratio of 1.0. Its net asset backing per share backing is 51 sen per share, giving a high price-to-book value of about 1.9. The asset includes a big chunk in “property plant and equipment” of 653m. An inflated figure, I think, plus a doggy “intangible asset” of 274m. Hence the “real” asset it has is very little.
3. Perisai made 21 m last year, or just 2.8 sen per share which translate to a PE ratio of 34 and a total enterprise value of 35 times EBIT! This is extremely high. In terms of ROE, it was only 6.4%, very low. First two quarters this year, earnings has improved quite substantially to 5.5 sen per share. But it remains to be seen if the full year is as good. Even if it is as good, the result is still not that impressive at all considering its relatively high share price now.
4. Its precarious balance sheet makes Perisai a highly risky investment and hence doesn’t warrant a double digit PE ratio.

Posted by cwkhor > 2012-10-03 12:01 | Report Abuse

1. RHB made similar comment, and what happened? an interesting blog about such comment:
http://malaysiafinance.blogspot.com/2011/04/over-eager-reporting-and-research.html
2. agree with you.
3. the first half of 2012 is doing well due to contribution from MOPU. if Perisai is repeating the result in the second half, the stock is trading at PE 8.5x; versus average of 20x in the O&G sector. after applying small cap discount, 8.5x is still attractive.

Posted by streamer555 > 2012-10-03 17:20 | Report Abuse

save ur explanation..in msia,if they wanted to increase the price, FA or TA doesnt matter.just follow the flow

Posted by kcchongnz > 2012-10-03 17:30 | Report Abuse

Yeah lah. Better save my time of explaining. Few understand what I am talking about and even less care about it anyway. These people must have make tons of money following "the flow".

Posted by 12dec1960 > 2012-10-03 18:08 | Report Abuse

BUY!!!!! KEEP<HOLD> this stock, another <SapuraCrest> in the making.. BUY!!!! & KEEP<HOLD>.. Happy Investing & Have a Nice Day.

Posted by Buy & Sell Sell & Buy > 2012-10-03 18:29 | Report Abuse

kcchongnz, your FA of Perisai is very good. Keep up the good work. Some people appreciate your analysis. Do post your FA of any counter which you are interested in. Thanks for your analysis.

Posted by talk2pkc > 2012-10-03 18:54 | Report Abuse

kcchongnz , 4sure u got 2b one of our "Senior" Sifu but it seems that all or if not, most of yr comments on all or if not most counters with negative !!! Perhaps, u might b kind enough to highlight some of yr "positive" counters that we might want to adore too ...................

Posted by avenger88 > 2012-10-03 19:12 | Report Abuse

huat lar

Posted by cwkhor > 2012-10-03 20:31 | Report Abuse

i like FA from kcchongnz, but i don't necessary with him all. anyway, i don't hold any of perisai stock.

Posted by kcchongnz > 2012-10-04 09:27 | Report Abuse

talk2pkc, actually i seldom comment on shares i am not interested on (as it take up my time unnecessary), unless sometimes i got annoyed by some analysts keep on recommending, in my opinion, are POS (piece of shit) and I thought I want to give an alternative view for small retail investors. Since i disagree with those supposedly knowledgeable analysts who make a living from this occupation, likely i may be wrong. That is why I like people like cwkhor too who have different opinion which I can learn from. Hopefully when he says he doen't agree with me, give his views on his reasoning. Since we put in our hard earned money in some companies, meaning buy stocks, I think it pays to be skeptical. Don't you think so? In fact I spend most of my time looking at good companies such as Zhulian, Kumpulan Fima, ECS ICT, Pintaras, Freight, Coastal etc, which I have posted what I have analysed for sharing. I have posted quite a bit on call warrants which I think there is opportunity to make some money if you know a bit more about them.

Posted by 1901 > 2012-10-04 10:03 | Report Abuse

thanks kcchongnz for d highlights. Two? years ago same thing happens with fajar, all analysts praising the company but suddenly, they all stop. Then it drift lower and lower. Only few good analyst left, most are paid to do "the" job!
I like pintaras too, thanks for pointing out "a good company in construction sector" - most cannot stand an acid test.

Posted by 12dec1960 > 2012-10-04 10:34 | Report Abuse

BUY & HOLD... ANOTHER SAPURACREST IN D MAKING.. BUY!!!!!

Posted by cwkhor > 2012-10-04 12:37 | Report Abuse

price move is not surprising, but i'm surprised by the volume. without major annoucement, yesterday 11M shares and 10.8M in today morning session. besides ocbc, who's buying? big foreign funds won't touch small cap like this.

Posted by weechin53 > 2012-10-04 14:06 | Report Abuse

it's our local players to roll only.

Posted by chelsea168 > 2012-10-05 11:42 | Report Abuse

UOB Kay Hian Malaysia Research said for the week, Perisai's share price has rallied 10% from 89 to a high of 98.5 this week. It said market talk was that Perisai might announce two rig UOB UOB Kay Hian Malaysia Research said for the week, Perisai's share price has rallied 10% from 89 to a high of 98.5 this week. It said market talk was that Perisai might announce two rig contracts very soon.

"We believe the first acquisition could be a stake in Emas Offshore's (EOC) floating, production, storage and offloading (FPSO) vessel. In return, Perisai could either issue shares or raise capital through a rights issue (rumoured to be priced at RM1.20)," said the research house..

Posted by chelsea168 > 2012-10-05 11:47 | Report Abuse

Source : http://biz.thestar.com.my/news/story.asp?file=/2012/10/5/business/20121005111543&sec=business

Posted by Calvin Wong > 2012-10-05 11:52 | Report Abuse

Been holding the stocks for months. Great stock to keep for mid to long term. As for short term, you probably hear alot of oohs, whys and ...should have. Anyway, too much analysis goes paralysis. Just buy the shares and enjoy the ride...

Posted by Calvin Wong > 2012-10-05 11:54 | Report Abuse

As for the rumored of price going 1.20, i heard them too....

Posted by kcchongnz > 2012-10-05 13:34 | Report Abuse

I love this quotation by Philip Fisher.
“The stock market is filled with individuals who know the price of everything, but the value of nothing.”
- Philip Fisher

Posted by maninderjit singh maghar singh > 2012-10-05 14:09 | Report Abuse

Going to 1.20.... Buy buy buy

Posted by maninder1972 > 2012-10-05 14:11 | Report Abuse

Nxt week got OG expo in kuching some announcement to be made.... Time to pick up

Posted by maninder1972 > 2012-10-05 14:38 | Report Abuse

Uptrend triangle is formed and ready for launch.......

Posted by maninder1972 > 2012-10-05 22:05 | Report Abuse

US Job rate drop o 7.8 and perisai will reach to its target at 1.20 next week. Good luck to all!

Posted by cwkhor > 2012-10-05 23:36 | Report Abuse

if US job rate at 7.8%, perisai price may down to 0.12. it's the *jobless* rate drop to 7.8%. :)

Posted by usry > 2012-10-06 15:26 | Report Abuse

cwkhor: not understand what u want to tell about.. pls elaborate further.

Posted by 12dec1960 > 2012-10-08 01:49 | Report Abuse

BUY AND KEEP
ANOTHER SAPURACREST IN THE MAKING...
KEEP FOR MAXIMUM PROFITS..
KEEP QUESTIONS ASIDE.. JUST BUY & KEEP.

Posted by jamil > 2012-10-08 09:10 | Report Abuse

trust for HLB target price RM1.60 still can buy now ...hurry !!!

Posted by cwkhor > 2012-10-08 09:29 | Report Abuse

RHB research initiated new coverage for Perisai, TP 1.47 based on PER 13x.

Posted by iraymond > 2012-10-08 09:35 | Report Abuse

Perisai to break into FPSO market (The Edge Financial Daily)

Posted by cwkhor > 2012-10-08 09:49 | Report Abuse

Acquire FPSO vessel from its own major shareholer Ezra Holding, why?

Posted by user > 2012-10-08 11:31 | Report Abuse

This sleeping going to break the history high..... go, go, go........

Posted by jamil > 2012-10-08 11:42 | Report Abuse

out of penny stock...hope maintain above 1.00..keep on buying

Posted by maninder1972 > 2012-10-08 11:45 | Report Abuse

Still undervalued at 1.03 and can still buy is cheap. TP is about 1.20 to 1.35 and uptrend now...

Posted by maninder1972 > 2012-10-08 11:47 | Report Abuse

Current buying rate at above 70% good stock

Posted by user > 2012-10-08 12:21 | Report Abuse

Usually , afternoon session will shoot up.........

Posted by kltrader > 2012-10-08 12:48 | Report Abuse

let's hope so!

Posted by maninder1972 > 2012-10-08 15:06 | Report Abuse

is already 1.06 and will break the 1.10. good buying rate and TP is about 1.20 to 1.35 by this month

Posted by user > 2012-10-08 15:14 | Report Abuse

Today will break 1.09.......$$$$

Posted by quyen850906 > 2012-10-08 15:21 | Report Abuse

Sold

Posted by chelsea168 > 2012-10-08 15:22 | Report Abuse

Sold also

Posted by Calvin Wong > 2012-10-08 15:27 | Report Abuse

Selling it now is a mistake. Stock is grossly undervalued...