1Q profit is up 116% from RM4.9m to RM10.6m. Management expected better result this year. Last day for dividend of 6sen is 27 June 2014, another month to go. The company has spend about RM72m for the oil and gas in Indonesia and another RM31m in a new piece of land for development.
However, management has in April, conservatively expecting the earnings growth of 15% for 2014. Chances are good they can exceed that. Actually one analyst expect it to double in 3 years time (including 2014).
Price seems to stagnant for about a month, closing at RM1.95.
Few catalysts that will materialise (bring in additional earnings): 1. Oil and gas new earnings 2. Construction for government housing RM580m contract 3. DeCentrum progressing well
Back them when price was about 0 9 yearly dividend was 8-9 Sen, almost 10%! That was what bleeps protasco onto my radar. Now at nearly 2.00, hopefully second dividend on December will exceed 6 Sen, hehe~
dont think so, teh soon seng is a legend in goreng stocks eg GPlus 20, Aokam 30, what else? many more....?
por yee, what to show? his company share prices around 15cts and 2.0 stocks price. no track records yet, only records in buying strings of cheap & small companies. probably not yet
1. Oil and gas, better than expected (of course it can goes both ways, but it is guaranteed) 2. JV with Nextnation - RM400m development in Cyberjaya 3. Potential development in Iskandar (land bought lately) 4. De Centrum (major project RM10bil - takes 10-20 years), at the moment, contribution from property development is less than 20%. 5. Construction projects in hand RM700m, includes RM500m for low cost housing development 6. Increasing road maintenance projects (projected), which at the moment contribute 70%. 7. Land revaluation upward due to MRT Line 2 station near Uniten.
Director bought about RM3m at RM1.94 lately (although not important).
Protasco Berhad (Protasco) is primarily involved in maintenance of federal and state roads and other construction works, property development and education.
• Holds road maintenance concessions with an outstanding value of RM1.8b, which contributes to a sizable 60-70% of its net profits.
• Property development business can potentially grow by leaps and bounds, backed by its massive RM10b integrated flagship development, De Centrum on a 100-acre land that it owns in Bangi.
• Plans to aggressively grow its current construction order book of RM709m with a focus on government jobs which typically yield higher margins.
• Recently acquired a 14.4 acres land in Pasir Gudang, Johor to ride on the property boom in the Iskandar region.
• Recent entry into the lucrative Indonesian oil and gas industry via its 63% stake in oil exploration company PT Anglo Slavic Indonesia comes with a guaranteed return to Protasco of net profit totaling USD22m over a span of 4 years.
• Financially sound with a strong balance sheet, while sitting on a large cash pile of RM221m (as at 31-Dec-13) or 66.5 sen per share, together with recurring cash flow from cash-generating concession assets.
Valuing Protasco with a FV of RM2.90 based on 1.sum-ofparts valuation, 2.valuing its construction and road maintenance concessions at FY15F PER of 9x, property development business with RNAV of RM503.7m (after applying a 20% discount), and all other business segments at FY15F PER of 7x.
updated: 25may14 -Sorry to inform that all De' Centrum SOHO (Typical/Duplex) & Residences are SOLD OUT. - There will be another upcoming project (Unipark - Phase 2) will soon OPEN FOR REGISTRATION. - Contact us for more detail!
Thanks wmliang. It is good news, the SOHO & Residences are sold out during this trying times for property markets. Once the MRT line 2 is officially announced, next launch will be better.
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Posted by jayajaya > 2014-05-27 20:29 | Report Abuse
meaning another 6 sen on top the announcement on 28/04/2014 ?