PROTASCO BHD

KLSE (MYR): PRTASCO (5070)

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Last Price

0.21

Today's Change

-0.005 (2.33%)

Day's Change

0.21 - 0.215

Trading Volume

261,900


16 people like this.

5,860 comment(s). Last comment by JJPTR 3 days ago

sasword

1,130 posts

Posted by sasword > 2021-04-01 16:29 |

Post removed.Why?

Posted by suffianfauzi > 2021-04-05 12:06 | Report Abuse

Termatch pulak 265..

Posted by aizuddin666 > 2021-04-05 14:04 | Report Abuse

waa 265 quite gud lor, this one has potential to go higher..u see the movement from below ema 21 until now has reach up ema 7, will continuely going upper just patient

thesteward

6,741 posts

Posted by thesteward > 2021-04-05 21:31 | Report Abuse

Result was our last week so it is already accounted for . Today is just some small amendment to the result that was already out last week .

Posted by suffianfauzi > 2021-04-07 20:50 | Report Abuse

Sure??

excelyou

1,255 posts

Posted by excelyou > 2021-04-07 21:28 | Report Abuse

STILL BELIEVE? Move to steel counters

Posted by suffianfauzi > 2021-04-10 14:22 | Report Abuse

X jalan lagi ini stock

Posted by pendekarbujang > 2021-04-24 01:11 | Report Abuse

when to wake up?

Posted by chongkipai > 2021-04-29 15:24 | Report Abuse

Is Chong father and son behind bar already? Protasco only got hope when the Chongs are captured. What they did to protasco was shocking day light robbery.

excelyou STILL BELIEVE? Move to steel counters
07/04/2021 9:28 PM

suffianfauzi X jalan lagi ini stock
10/04/2021 2:22 PM

pendekarbujang when to wake up?

awesome20

1,184 posts

Posted by awesome20 > 2021-06-10 18:37 | Report Abuse

rumor new contract worth RM250million going to prtasco..soon to announce after official award

Posted by ChongCaoHai > 2021-06-19 19:27 | Report Abuse

Left the company 2 years ago still got people looking at this stock? Protasco is walking zombie. Either Chong Ket Pen or Protasco end result is the game - gone case. RM250 billion contract also useless as Chong and cronies will steal from Protasco. Working there also feel guilty.

hafizsmj

45 posts

Posted by hafizsmj > 2021-06-27 06:12 | Report Abuse

@ChongCaoHai, you see from chart 2 years ago and that fiasco already priced in. Now monthly chart is uptrending from the last crash March 2020. If you say the company is gone case already, it should have just flatten al the way then.

Posted by ChongNSons > 2021-07-14 23:31 | Report Abuse

Many years ago the Chongs cheated some shareholders and took control of Protasco Bhd. Everyone in Protasco knows the old story.

Chong Ket Pen and son Chong Ther Nen made use of his staffs to put blame on others to gain control of Protasco. Then Chongs' took all Protasco money for himself until today. That's obvious.

Most Protasco staff saw Chong staff involved suffer karma and left one by one. On the board itself, one is chairman Hadenan died. Then accountant Ho Chun Fuat died. Chong Ket Pen's partner Tan Heng Kui left Protasco. The only directors of that time left is Tan Yee Boon, Chong Ket Pen and son Chong Ther Nen. Maybe Protasco need to burn all money before the father and son face their karma. Who is next?

Posted by TanHengKuiSoul > 2021-09-06 11:17 | Report Abuse

Worked in this corrupted company before. All Chong Ket Pen father and sons are criminals. Sure good for Chong Ket Pen but not the staff. Cheating all the money and bring Protasco to his grave burn in hell. Moreover investors. lol.

Posted by Goldenhorse > 2021-09-12 23:59 | Report Abuse

they are always a profitable construction company with real construction team. unlike some hokidoki counters. anyway the material litigation case is just done by someone jealous of them. making life hard. all contract signed with condition precedent and consideration which is signed and verified for each page and if not met why sue someone ? opportunity loss isn't something known risk as condition precedent isn't met. Anyway the covid situation has make this counter a good one. Dato let's make this a come back. for your investor that follow you.

suprnoob

1,130 posts

Posted by suprnoob > 2021-09-28 15:34 | Report Abuse

good volume...huat cai!

Posted by Goldenhorse > 2021-11-05 20:07 | Report Abuse

For 6MFY21, cumulative net profit stood at RM6.5m vs. a net loss of RM4.2m recorded in the previous corresponding quarter. Revenue for the period grew 29.7% YoY to RM398.5m. The reported net profit came within expectations, making up to 47.1% of our net profit forecast of RM13.6m. We expect further recovery is in store towards the remainder of the year with kitchen sinking exercises completed in FY20.

Posted by Goldenhorse > 2021-11-05 23:15 | Report Abuse

Protasco Decentrum City, one of the projects of Protasco Bhd

KUALA LUMPUR: Protasco Bhd returned to the black in the second quarter, boosted by stronger contribution by its road maintenance division.

The company made a net profit of RM6.4mil in the three-month ended June 30, 2021 compared with a loss of RM1.7mil a year ago.

Revenue improved to RM189mil from RM172mil previously, Protasco said in a filing with Bursa Malaysia yesterday.

Maintenance business generated a revenue of RM142.3mil and a pre-tax profit of RM11.7mil.

Pek79

31 posts

Posted by Pek79 > 2021-11-19 16:17 | Report Abuse

anyone know what/who is the Non-controlling Interest mentioned in the reports?
Why profit need to go to this non-controlling interest before share to share holder?

Posted by shortinvestor77 > 2021-11-23 15:39 | Report Abuse

For example, if the organization owns 70% of the subsidiary and a minority partner owns 30% and subsidiaries net income say $1M. The non-controlling interest would be calculated as $1M x 30% = $300k. This $300k would be placed on a non-operating line item on the Income Statement.

Pek79

31 posts

Posted by Pek79 > 2021-11-24 15:51 | Report Abuse

Many thanks for the explanation.
but this seem doesn't apply to PRTasco Non-controlling Interest. The Non-controlling interest not only share the profit, but they do have guaranteed return, their return will not lower than RM3,000,000 per quarter. Like happened in 2020 Mar & 2020 Jun, the Net profit before tax is not enough to pay the guaranteed return to Non-controlling interest, the owner was force to record in loss in order to pay the guaranteed return, even the Net profit before tax on that quarter was report positive....
the worst happened on 2020 Dec, the company report Net lost but still pay to these non-controlling interest.....
2020 Sep the pay to non controlling interest had increased to RM7,738,000!

Posted by Goldenhorse > 2021-12-20 02:04 | Report Abuse

flood just happened. so alot of the road will crack and have portholes. some errosions so maintenance work needed. the flood is so bad this time. good thing is the jobs all coming

Posted by Goldenhorse > 2021-12-20 02:07 | Report Abuse

minority interest means shareholders at the subsidiary level. it is fairly split even among based on percentage. so some subsi who made more pay more less the lesser. is fair one la. Lol. it is not preference share btw. minority interest is just the smaller shareholders at subsidiary

mk88

986 posts

Posted by mk88 > 2021-12-22 10:33 | Report Abuse

after floods, many potholes everywhere and landslides, road maintenance should be getting more road maintenance contracts

klse182

3 posts

Posted by klse182 > 2022-02-25 12:11 | Report Abuse

2021 Result RM37.92million PROFIT!!!

hassim85

163 posts

Posted by hassim85 > 2022-02-25 12:35 | Report Abuse

no buyer, no peminat, no roket

Posted by Hew Kiong Peng George > 2022-04-09 07:29 | Report Abuse

This hidden gem gonna rocket soon. Wb gogo

Posted by Hew Kiong Peng George > 2022-04-09 07:29 | Report Abuse

Warrant gogo

Posted by Goldenhorse > 2022-07-07 13:39 | Report Abuse

Cash in bank RM100m ish, The land in Bangi/Kajang RM68m ish (havent revalued), This price trading at such discount, yummy, can buy the whole company over take Dato Sri in shareholding just need RM50m hehehe. D'Sri can sweat if someone take over and kick him as deputy chairman. If you calculate the assets over share count. perhaps around RM1 ish, hehehehe. time to raid this co and kick the founder out

Posted by Goldenhorse > 2022-07-07 13:40 | Report Abuse

can buy a RM1 company at 17 sens wohoho, Dato Sri, its just RM50m, hehehe get RM100m and kajang land

Posted by Goldenhorse > 2022-07-07 23:13 | Report Abuse

lol where got company traded below its cash in the bank! LOL

21spade

173 posts

Posted by 21spade > 2022-07-25 12:22 | Report Abuse

warrant on cheap sale

zhm540

2,451 posts

Posted by zhm540 > 2022-07-28 12:15 | Report Abuse

warrant is cheap...buy and hold and wait for election.

Posted by birkincollector > 2022-08-15 22:25 | Report Abuse

oh got project....tmr goreng warrant lol

TCH1186

888 posts

Posted by TCH1186 > 2022-08-15 23:43 | Report Abuse

funny

Posted by ChongGuilt > 2022-12-13 17:04 | Report Abuse

Old fart Chong Ket Pen dead yet? Else this counter is useless gone case. Full of sh it

speakup

24,521 posts

Posted by speakup > 2023-09-05 20:32 | Report Abuse

https://theedgemalaysia.com/node/681374
Fine only? Not enough lar. Must jail & whip too!

Posted by hohlaiyet88 > 2 months ago | Report Abuse

Why this shares suddenly go up? Any good news?

shipcapt

303 posts

Posted by shipcapt > 2 months ago | Report Abuse

no news at all

Pek79

31 posts

Posted by Pek79 > 2 months ago | Report Abuse

From the date it start to jump up, seem like main reason is legal action was proceed to the persons who were said cheated to the company during the Indonesia investment.

13 Dec 2023
LEGAL SUIT AGAINST PT ANGLO SLAVIC UTAMA (1st Defendant), TEY POR YEE (2nd Defendant) AND OOI KOCK AUN (3rd Defendant)

21 Dec 2023
BANKRUPTCY PROCEEDINGS AGAINST TEY POR YEE AND OOI KOCK AUN


another reason could be the company finally gain positive profit on 3rd quarter.

virgogo

130 posts

Posted by virgogo > 2 months ago | Report Abuse

Both Tey and Ooi are former directors of Protasco Bhd. The company was misled by the 2 directors to invest
in Indonesia. High court found them guilty. They are well to do individuals. If Protasco is able to recover just
half of the judgment sum, will be good enough.

Diamond7

2,151 posts

Posted by Diamond7 > 1 month ago | Report Abuse

Truth is revealed!
Chong ket Pen honest businessman...
Hope wil brin Prtasco back to glory days!

kcliew08

54 posts

Posted by kcliew08 > 1 month ago | Report Abuse

Is this a Tun Daim related stock?

virgogo

130 posts

Posted by virgogo > 1 month ago | Report Abuse

Aiyo. Tun Daim has already lost his influence in awarding contracts. Businessman like Chong are pragmatic and
will keep in touch with those in power so that he continue to do business and get contracts. Look at the new
contracts awarded to the company the past 2 years. Same as Vincent Tan, who is friendly to all politicians past and present. Someone is intentionally trying to tarnish Chong name. Maybe because of the court case he won recently

JJPTR

92 posts

Posted by JJPTR > 6 days ago | Report Abuse

Another case of money paid for "something", but aborted. AT system also similar scheme. YNH also had incident of money paid for "something" but terminated, about 75m rgt ,and money out very hard to come back.

JJPTR

92 posts

Posted by JJPTR > 6 days ago | Report Abuse

KUALA LUMPUR (Sept 5): The Kuala Lumpur High Court has ordered Protasco Bhd’s former director Datuk Tey Por Yee and his associate Datuk Ooi Kock Aun to pay the company RM84.64 million over breach of fiduciary and statutory duties related to a sale and purchase agreement (SPA) signed in 2014.

Protasco Bhd said the judgment sum, awarded on Sept 1, will include an interest of 5% per annum to be calculated from Sept 22, 2014 — the date of the writ of summons — until full and final settlement.

Protasco sued Tey and Ooi for US$27 million (RM88.41 million then) on Sept 22, 2014, for breach of fiduciary and statutory duties after the company failed to acquire a 63% stake in PT Anglo Slavic Indonesia (PT ASI) for US$22 million.

Protasco also claimed that Tey and Ooi had failed to disclose their interest in the transaction and conspired to defraud the company and undertake secret profit-making, according to its past filings.

Protasco first entered into an SPA with PT Anglo Slavic Utama (PT ASU) in December 2012 to acquire a 76% equity interest in PT ASI for US$55 million.

At that time, PT ASI controlled PT Hase Bumou Aceh (PT Haseba), which had a production management partnership agreement (PMPA) with Indonesia’s national oil company Pertamina to develop and produce oil and gas at the Kuala Simpang Timur field in Aceh.

The deal was downsized after a due diligence to acquire a 63% stake in PT ASI for US$22 million.

PT ASU provided collateral in the form of 297.14 million shares in PT Inovisi Infracom Tbk, where Ooi was then chief financial officer. The new SPA also required PT ASU to secure a 10-year PMPA extension from Pertamina.

However, PT ASU was only granted a three-year extension. Unable to fulfil the conditions set in the SPA, the agreement lapsed, but Protasco had already paid the total US$22 million consideration plus an additional advance of US$5 million to PT ASU — the amount sought by the company from Tey and Ooi in the initial suit.

It is worth noting that the lengthy lawsuit also saw Tey and Ooi being granted a discharge not amounting to an acquittal (DNAA) by the Sessions Court in Kajang in September 2017.

JJPTR

92 posts

Posted by JJPTR > 3 days ago | Report Abuse

KUALA LUMPUR: R&A Telecommunication Group Bhd will be delisted from the ACE Market of Bursa Malaysia today after the regulator dismissed its appeal to submit a new regularisation plan.

Bursa Securities, in a letter on Jan 25, said there was no reason to allow the further extension. In our opinion, adequate time and opportunity had been accorded to R&A to regularise its financial condition,” Bursa Securities said, adding that the company had approximately two years and eight months to do so. On top of that, Bursa Securities opined there was lack of certainty and clarity on the formulation of a new regularisation plan.

JJPTR

92 posts

Posted by JJPTR > 3 days ago | Report Abuse

THE Securities Commission Malaysia (SC) has filed a civil suit in the Kuala Lumpur High Court against five individuals for allegedly perpetrating a scheme to defraud and/or causing wrongful losses valued at RM120.6 million to four public-listed companies.

In a statement on Dec 12, the SC said it filed the suit on Nov 29, 2022 against Tey Por Yee (ASDION, IQZAN ,PRTASCO), Lim Chye Guan(NEXTGRAM}, See Poh Yee(NEXTGRAM, ASDION), Francis Tan Hock Leong (R&A) and Faizatul Ikmi Abdul Razak.(NEXTGRAM, IQZAN)

It said the companies involved are 1. Nexgram Holdings Bhd 2. R&A Telecommunication Group Bhd (delisted) 3. Asdion Bhd 4. Ire-Tex Corp Bhd. (new name IQZAN)

JJPTR

92 posts

Posted by JJPTR > 3 days ago | Report Abuse

Another messy company involving messy Sales and Purchase deal.
YNH property
Bursa Securities unearths RM150m oversight by YNH Property

By Faiqah Kamaruddin
January 18, 2024 @ 10:50am

KUALA LUMPUR: Heavy selling pressure in YNH Property Bhd has led Bursa Malaysia Securities Bhd to unearth an oversight on YNH Property Bhd's part in not announcing a planned acquisition of a 2.06 hectare site in Desa Hartamas, Kuala Lumpur for RM150 million. 

When queried by Bursa Malaysia Securities Bhd on an announcement made in May 2023 that its subsidiary Kar Sin Bhd is to dispose of land in Desa Hartamas for RM170 million to Sunway Living Space Sdn Bhd, YNH Property said not announcing the proposed acquisition of the Desa Hartamas land from Great Wall Park Sdn Bhd (GWP) was an oversight on its part.

Citing the company's response to a query by Bursa Securities on May 25, 2023 and a query from Bursa Securities on the proposed disposals dated Jan 16, 2024, Bursa Securities asked YNH Property to provide the details and update on the steps/actions taken in rectifying the oversight and ensure that an announcement on the said acquisition is made prior to seeking the approval of YNH's shareholders for the said acquisition.


On April 18, 2022, the wholly-owned subsidiary of the YNH Property, Kar Sin Bhd (KSB) entered into a sale and purchase agreement with Great Wall Park Sdn Bhd (GWP) for the proposed acquisition of 2.06 hectare of land in Desa Hartamas, Kuala Lumpur for RM150 million.
In April 2022, KSB and GWP entered into a supplemental agreement to use RM239.5 million owing to KSB by GWP following the termination of a turney construction agreement dated June 20, 2016 to be paid as purchase consideration for the land
In September 2022, KSB and GWP agreed that KSB is not to to develop the Desa Hartamas land and KSB has sold the land to a third party purchaser.

The remainder RM89.5 million is to be refunded by GWP to KSB by June 30, 2024.
Questions...
1.Will GWP refund $RM89. 5million to YNH?
2.Original land purchase by YNH subs is RM $150m, than revised to RM170m, than revised to $RM239. 5m. YNH overpaid by $239.5m- $150m=$89.5m.


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