Posted by darecom > 2013-05-14 08:10 | Report Abuse

Hi Halopanda, thank you so much for the report.

The 100 acres land is something interest me, it is very much just the beginning for the company and if the company manage it well it's gonna contribute pretty handsome revenue to the company. Venture into O&G industry, I'm 50/50 about it but who knows hahaha.

Thanks again, halopanda.

Posted by halopanda > 2013-05-16 00:56 | Report Abuse

Final dividend of 4 sen announced

Posted by arv18 > 2013-05-16 01:17 | Report Abuse

"With regards to the collateral, the shares were worth RM 55,038,167 as of 6 May 2013 at a conversion rate of 1MYR = 3273.80 IDR." - that IS the point. the value of the shares change with the IDR rate and stock price. Not very good at all.

Why wasn't the 5o million held in trust to avoid this massive unnecessary risk???

The market knows this, that is why this stock is a laggard.

Don't be blinded by the dividend & buybacks!

Posted by halopanda > 2013-05-16 13:20 | Report Abuse

arv18, I agree with you on this that the above isn't the best arrangement. In fact, the stock isn't very liquid and could potentially fall in value very quickly in a selldown. Coupled by the fact that it is trading at a historical high...

Holding the stock in a trust would only eliminate counterparty risk but not market and exchange rate risk though. The ideal scenario would be for the cash to be held in a trust.

I'm going with my gut feeling that management is acting in the best interests of the the company on this issue...

Including sharebuy backs, Protasco would have paid out 8 sen in total YTD.

Posted by oilbullrun > 2013-05-16 17:12 | Report Abuse

After election economy only focus on oil & gas. Super bull 2013-2018! 4 direct players SKPETRO, PROTASCO, PERISAI, DIALOG super bull!

Oil & gas is expensive business, in Malaysia have money also cannot get oil contract, all monopoly and sapu by Pertonas, Royal Putera, Puteri, and Putra, Putri politician.

PROTASCO if successful in buying a ticket into oil & gas, may need to invest hundreds of million US Dollar but also make even more money. Do a search will find many oil licenses alone cost tens of million of US Dollar, some hundreds of million of US Dollar. Because of the business prospect, all the big platers pay in cash. It will be lucky if Protasco can really gets a block and upgrade their play field up the food chain. A new oil Prince Darling will be born!

Posted by kencaboy > 2013-05-16 20:35 | Report Abuse

Why share ah? Nego lower down without what collateral lah. Indonesia everything is cash down payment no collateral. All government contracts like that take or leave. You dono meh? Even BP or Total pay cash to apply new contract without guarantee award. So good ah who borrow asset? Be careful of anti corruption.

Posted by mk88 > 2013-05-16 21:47 | Report Abuse

true, oil and gas stocks are in play

what take protasco so long to get it done with the acquisition. just want to enjoy the bull run

Posted by arv18 > 2013-05-16 23:05 | Report Abuse

you guys have all made valid points. you've said it yourself, in not so many words. in addition to the strangeness of a road maintenance company going into oil and gas, you've got the governance issues. another question - why not just go for the same kind of business you have experience in - road construction and maintenance. make money, and plenty of growth in Indo too. leave o & g to the experts. do you think an accountant can become a doctor overnight?

Posted by halopanda > 2013-05-17 00:21 | Report Abuse

According to Dato Chong, Oil and Gas is not an entirely new business for the company because Protasco has experience in drilling so they are making use of existing expertise in the venture.

Posted by arv18 > 2013-05-17 01:00 | Report Abuse

Drilling??? When? I've been following this company and never seen any mention anywhere, on their website or anything. Dato has a problem with telling the truth.

I used Wayback machine to get a cached copy of the webpage from 2003. No mention of any drilling...

http://web.archive.org/web/20031031031407/http://www.protasco.com.my/

To be exact this is what is says:

Protasco chalks up 79 sen premium on KLSE debut

CONSTRUCTION and maintenance specialist Protasco Bhd made an impressive debut on the KLSE main board yesterday, opening at RM1.94 for a 68% premium over its initial public offer (IPO) price of RM1.15. The counter went on to hit a high of RM2.07 before easing back to close at RM1.84 on total volume of 30.19 million shares in a generally mixed broader market

"The response (from investors) is beyond our expectations," Protasco executive chairman Datuk Hasnur Rabiain Ismail said after the listing ceremony in Kuala Lumpur.Protasco, an investment holding company with four subsidiaries – HCM Engineering Sdn Bhd, Kumpulan Ikram Sdn Bhd, Paves Sdn Bhd and Protasco Trading Sdn Bhd – is involved in road construction and rehabilitation as well as road maintenance. The group currently owns the largest fleet of recycling machines in South-East Asia and the second largest worldwide. Going forward, Hasnur said Protasco would continue to bid for both government and private sector projects to maintain growth in its order book, and that it was confident of winning all the projects it had tendered for.

"In the longer run, we are confident of being able to capture the major share of local road rehabilitation and maintenance jobs as we have the expertise and can provide a cheaper alternative," he added. On top of an order book of RM1.36mil, which will keep the group busy until 2005, Protasco also holds three concessions that will provide it with recurring income.

As new roads are added, the demand for rehabilitation and maintenance work will grow," Hasnur said. On overseas expansion, he said the group planned to bid for jobs in countries like India and Bangladesh but would do so cautiously.

Posted by arv18 > 2013-05-17 01:04 | Report Abuse

In fact, you can see that its share price is only just returned to its IPO price after 10 years. A lost decade for shareholders.

Posted by sephiroth > 2013-05-17 09:30 | Report Abuse

Gaining momentum

Posted by oilbullrun > 2013-05-17 10:08 | Report Abuse

This PROTASCO nobody goreng else already surpass PERISAI 1.50 or PERDANA 1.60

Posted by mk88 > 2013-05-17 10:15 | Report Abuse

looking good this morning with higher volume

Posted by oilbullrun > 2013-05-17 10:27 | Report Abuse

Looks like momentum once clear 1.20 maybe will match PERISAI and PERDANA 1.60. Who got $500,000? Sapu all share!

Posted by mk88 > 2013-05-17 11:40 | Report Abuse

thomas

what news. plse share

Posted by oilbullrun > 2013-05-17 16:45 | Report Abuse

Rumor oil field hit jackpot. Better be real. 1.20 soon!

Posted by MAMEE MONSTER > 2013-05-17 18:35 | Report Abuse

たいしたことはない

Posted by mk88 > 2013-05-17 20:05 | Report Abuse

oilbull

if the oil field hit jackpot, i will calculating PE of 30 to 40 times
from present less than 10

Posted by mk88 > 2013-05-17 20:31 | Report Abuse

Mamee, your writing like maggi mee
means what

Posted by arv18 > 2013-05-17 20:58 | Report Abuse

Use Google Translate lah

Posted by Mars > 2013-05-18 18:51 | Report Abuse

Indonesia offers 21 oil and gas blocks in tender.
http://www.themalaysianinsider.com/business/article/indonesia-offers-21-oil-and-gas-blocks-in-tender/

Posted by mk88 > 2013-05-19 08:16 | Report Abuse

Mars

That is good news for Protsco with interest in oil and gas in Indon

No way can get in Malaysia, all sapu by those well connected politicians family eg SKP, all putera and tengku...

Posted by duenchan > 2013-05-20 10:06 | Report Abuse

Nobody goreng :(

Posted by mk88 > 2013-05-20 18:47 | Report Abuse

inching up everday, up 3 cts, good enough for me

Posted by mk88 > 2013-05-21 07:45 | Report Abuse

further action today?

Posted by Thomas Tan > 2013-05-21 09:02 | Report Abuse

Flying high ....

Posted by sephiroth > 2013-05-21 19:29 | Report Abuse

http://www.bursamalaysia.com/market/listed-companies/company-announcements/1292645

awarded a tiny contract of RM37m better than nothing

Posted by mk88 > 2013-05-25 10:26 | Report Abuse

market correction is good time to buy

Posted by halopanda > 2013-05-25 19:14 | Report Abuse

May take some time to recover. Heavy selling on Thursday. Buyers from 1.17 to 1.24 facing losses may be inclined to sell. May drop further so can wait awhile for lower prices to buy.

Posted by sephiroth > 2013-05-26 16:07 | Report Abuse

http://my.news.yahoo.com/protascos-property-business-focus-083702485.html

Posted by Junglestock > 2013-05-26 17:12 | Report Abuse

now good to pick up some more (RM1.15)

Posted by sephiroth > 2013-05-27 18:35 | Report Abuse

profit drop again to RM4.9m, gonna fall as well

Posted by halopanda > 2013-05-27 19:18 | Report Abuse

We have director purchasing another 4 million shares at RM1.20, which should set a benchmark.

Posted by Carlsbg Move > 2013-05-27 19:29 | Report Abuse

why first quarter earning is much lesser than other quarters?

Posted by sephiroth > 2013-05-27 22:56 | Report Abuse

The 4 mil shares just switch hand from one director to another

Posted by duenchan > 2013-05-29 13:14 | Report Abuse

This is a quiet stock. Shoot up suddenly and then move back down in a few days.

Posted by arv18 > 2013-05-29 13:19 | Report Abuse

nirvana sang "smells like teen spirit", i say "smells like knm". when i say knm, i mean post 2008 knm...

Posted by spka > 2013-06-03 17:18 | Report Abuse

Hi Halopanda, can send a copy of yr report to yona3134@ovi.com? Thanks.

Posted by halopanda > 2013-06-04 14:37 | Report Abuse

Sent. Let me know if you haven't received it.

Posted by cherry tomato > 2013-06-04 17:53 | Report Abuse

aii... when only the price will up? even declared dividend the price still stagnant.

Posted by Darren Lee Chi Han > 2013-06-05 12:58 | Report Abuse

hi halopanda, can i have ur report too? ch_hans90@Hotmail.com thanks

Posted by halopanda > 2013-06-05 16:23 | Report Abuse

Sent.

Posted by halopanda > 2013-06-05 16:24 | Report Abuse

cherry tomato, Rome is not built in a day. Besides, it was 1.07 before the dividend was announced.

Posted by sephiroth > 2013-06-07 14:51 | Report Abuse

Pls go lower, i want more 4 sen dividend

Posted by Hustle > 2013-06-07 14:54 | Report Abuse

Not 4sen sephiroth suppose 10sen as been promise :)

Posted by sephiroth > 2013-06-07 15:00 | Report Abuse

already makan 10 sen but not full, just go lower to 112, i top up a lot
http://www.bursamalaysia.com/market/listed-companies/company-announcements/1287021

Posted by Alex Lim > 2013-06-10 17:52 | Report Abuse

OTHERS LETTER OF ACCEPTANCE FROM DESARU DEVELOPMENT HOLDINGS ONE SDN BHD ON INFRASTRUCTURE PACKAGE INCLUDING ROAD AND DRAINAGE WORKS
PROTASCO BERHAD

Type Announcement
Subject OTHERS
Description LETTER OF ACCEPTANCE FROM DESARU DEVELOPMENT HOLDINGS ONE SDN BHD ON INFRASTRUCTURE PACKAGE INCLUDING ROAD AND DRAINAGE WORKS



Protasco Berhad wishes to announce that its subsidiary, HCM Engineering Sdn Bhd, had received a letter of acceptance from Desaru Development Holdings One Sdn Bhd accepting its tender for the construction and completion of the proposed infrastructure package including road and drainage works to Desaru Coast Course in Johor for a sum of RM50.4 million. The contract period is 12 months commencing from 17 June 2013.


The project is expected to contribute positively towards the Group’s results for the financial year ending 31 December 2013.

Posted by sephiroth > 2013-06-11 16:41 | Report Abuse

the most cacat stock, almost everyday gain wipe out

Posted by halopanda > 2013-06-11 20:57 | Report Abuse

What is cacat?