Posted by benghooi > 1 month ago | Report Abuse

It has been the company's practice, at least for the past 20 years, to declare an interim dividend in November.

With swelling cash and impending implementation of dividend tax, will the company pay more this time?

Posted by hng33 > 1 month ago | Report Abuse

Current lower quarter result mainly due to
1. Deferred tax - RM 18.5m
2. Free 10m3 water for 6 month as special subsidy to domestic customer, erode PBA profit by -RM 11m
3. Domestic consumer reduce water usage due to water traffic hike. These temporary setback in domestic will be setoff with nondometic consumption through increasingly semiconductor manufacturing activities

Posted by hng33 > 1 month ago | Report Abuse

Agreed. PBA cash flow is too attractive, accumulate nearly 86sen/share.

In additional, next year onward, PBA will start recover penang government repayments RM 88.6m on staggering basis begin 2025 will further boost up PBA cash hoard.

Hence maiden special dividend is imminent, following trend like kossan and MSC to declare special dividend ahead of next year dividend tax, which will benefit Penang gov the most as majority stake holder

Posted by hng33 > 1 month ago | Report Abuse

Generally, utility stock like water or power are debt laden, but have positive cash flow generated from utilities business ike YTLP, tenaga, malakroff, RANHILL. Therefore, it is rather unusual for PBA to sit on massive cash hoard and trade below NTA.

Next year dividend tax is good opportunity for PBA to rectify their financial position to better reflect utilities business model and allow Penang government to enjoy better dividend payout ahead of next year dividend tax and commencment of repayment loan RM 88.6m to PBA

Posted by jojo85 > 1 month ago | Report Abuse

Dont worry la purebull, monday confirm skyrocket...rm 3 otw..

Posted by Analyser > 1 month ago | Report Abuse

PBA's PE at 9 and below NTA. Vs Ranhill PE at 30 and trading two times of NTA.

Assuming same logic, PBA should be trading at RM6 right now. Severely undervalued. Looking at the massive cash pile and being a cash cow, expect better dividends and revaluation.

Posted by troy88 > 1 month ago | Report Abuse

Topsy turvy earnings and damn volatile stock

Posted by jojo85 > 1 month ago | Report Abuse

No worries la...that massive tax heavily affected pba's profit..its temporary only..

Posted by dollardollarbill > 1 month ago | Report Abuse

3Q24 PBT RM42.2m +45% yoy, revenue RM139.9m +22% yoy.

Deferred tax expense is a non-cash item.

9M24 Cash flow from operations before working capital changes RM159.4m +58% yoy

Overall performance is ok.

Budget announced next year 2% dividend tax. Pay much higher dividend upfront now will be good for everyone.

Next month is already December. Savvy long-term investors focus on future annual earnings, 2025 and beyond.

Posted by dollardollarbill > 1 month ago | Report Abuse

#Penang2030

Posted by jojo85 > 1 month ago | Report Abuse

Panic trader sells, smart investor buys...kikiki

Posted by hng33 > 1 month ago | Report Abuse

Wait for 'special dividend'

Posted by Analyser > 4 weeks ago | Report Abuse

PBA regained some foothold and now roughly back to it's original price before announcement. This tells us that market conviction for the stock did not wane and they predict water consumption usage will definitely increase in the coming years, from domestic household and mainly from factories and businesses.

Posted by kancs3118 > 3 weeks ago | Report Abuse

Dropping....time to grab them by the p*ssy...so says Trump

Posted by warrantKing > 3 weeks ago | Report Abuse

Look like this PBA has constant profit
This Q 42 mil PBT
Last Q 58 mil PBT
Half year 100Mil PBT
1 year 200Mil PBT (-25% tax) = 150Mil PAT

It will surge after rebate of water done next year.
Market cap 1 Bil is possible

Note: This Qr have 20 Mil + Defer tax .

Posted by Phoebe > 2 weeks ago | Report Abuse

School holidays, Christmas season, CNY, all coming soon. Increase in water usage. Furthermore, it is wet season. Abundance of water to sell. They haven't declared any div yet. Maybe 1 soon??

Posted by jojo85 > 2 weeks ago | Report Abuse

Keep falling after qr released..

Posted by Phoebe > 2 weeks ago | Report Abuse

Opportunity to buy? or is it Overvalued?
If PBA can announce a good dividend, then it will sure support the price.....

Posted by turbochart > 2 weeks ago | Report Abuse

Penang rich, Perak poor. Perak gov, pls sell high high water to penang🤗

Posted by turbochart > 2 weeks ago | Report Abuse

Penang a lot High Tech company , billion of foreign investment, so very rich!! PERAK gov, pls sell water high high price to Penang

Posted by dollardollarbill > 1 week ago | Report Abuse

It seems many once again misinterpreted PBA’s deferred tax expense/liability.

To provide context, in 2018, PBA reported a loss after tax due to a significant RM137.60 million deferred tax liability. However, this was a non-cash flow item, as clarified in PBA’s 2018 Annual Report (page 13):

"Please note that the recognition of the deferred tax liability is a NON-CASH FLOW item. The ACTUAL tax that is payable by PBAHB to the IRB for FY2018 is only RM1.55 million, based on a PBT of RM36.14 million offset against other tax incentives."

The relationship between unabsorbed reinvestment allowance (RA) and deferred tax liability is further detailed on page 14 of AR2018.

This pattern is consistent. In FY2023, PBA reported a deferred tax expense of RM29.7 million, but its cash flow statement showed tax paid of only RM4.726 million.

Similarly, in 3QFY2024, PBA reported a deferred tax expense of RM18.3 million, with a cumulative total of RM17.0 million for 9MFY24.

Yet, the 9M24 cash flow statement indicates income tax paid of just RM5.581 million.

Focus should be on the actual income tax payable, as deferred tax expenses are non-cash accounting entries that do not affect the company’s operational cash flow. Misinterpreting these figures risks undervaluing PBA’s true financial performance.

Posted by KingKKK > 1 week ago | Report Abuse

UTILITIES Sector Outlook - Overbought or Just Getting Started? - YTL, YTLPOWR, TENAGA, PETGAS, MALAKOF, PBA

https://klse.i3investor.com/web/blog/detail/bestStocks/2024-12-08-story-h476427656-UTILITIES_Sector_Outlook_Overbought_or_Just_Getting_Started

Posted by Titan > 1 week ago | Report Abuse

PBA announces the dividend. I thought they would give something like 5c but only 2.5c. Well, better than nothing. Hope more to come.

Posted by turbochart > 3 days ago | Report Abuse

Penang High Tech industry, use a lot water. Perak Hulu, poor, Perak MB, pls sell water high high to Penang