Posted by Alex Lim > 2013-06-11 21:15 | Report Abuse

slow slow up better...steady.......

Posted by JTFX > 2013-06-11 21:17 | Report Abuse

very funny... serious??? u r a foreigner??

Posted by halopanda > 2013-06-11 23:11 | Report Abuse

I don't know malay.

Posted by arv18 > 2013-06-12 03:49 | Report Abuse

disabled/retarded share....hahahaha :)

but seriously, you can use Google Translate for all your Malay/Chinese/Tamil needs. Its great!

Posted by halopanda > 2013-06-12 09:55 | Report Abuse

Haha ok. thanks for sharing.

Posted by oilmoney > 2013-06-13 15:55 | Report Abuse

when is the oil going to produce? all the oil companies goes up pe 20times, protasco should be rm2.50 by now.

Posted by halopanda > 2013-06-16 19:24 | Report Abuse

Hopefully soon.

Posted by sephiroth > 2013-06-16 19:33 | Report Abuse

year after year profit margin around 4.5-6% only, must find new biz to triple the margin

Posted by sephiroth > 2013-06-16 19:36 | Report Abuse

FY12 pay out 110% (14 sen) of profit, payout ratio should max out at 70-80% so that there's money left for the company to expand or for working capital

Posted by Adam_Q > 2013-06-16 19:55 | Report Abuse

good dividen stock

Posted by halopanda > 2013-06-17 05:27 | Report Abuse

Yes good stable recurring income from road maintenance and construction for dividend payout. Income from property and oil & gas should provide additional income for more payouts

Posted by mk88 > 2013-06-17 07:28 | Report Abuse

Protasco going back to Libya, seeking compensation from Libyan Govt

KAJANG: Undeterred by previous losses, Protasco Bhd, a mid-sized integrated infrastructure company, is returning to Libya after halting operations there due to a revolution.

Group managing director Datuk Chong Ket Pen said the company was restarting business in Libya at end-June after exiting the country two years ago.

“We have written off RM20mil in provision in the past two years for our halted operations in Libya.

“Our machines are still there. We've been asked to start work by the government and our team has gone back a few times,” Chong told StarBiz.

He said Protasco's operations in Libya had been profitable until the revolution interrupted its business. Libya is currently undergoing political reconstruction.

“We tend to gain than lose, given that we have written off all our provisions in the past two years. There will be no more losses,” Chong said, adding that it was also seeking compensation from the Libyan government.

He said the firm still had some RM60mil worth of jobs from two contracts in Libya to be done.

“It will be good if we can get some compensation. We are seeking compensation for loss of income and depreciation of machines,” Chong said.

In the past, analysts have pointed out that Libya was a promising market for Protasco. Libya was once touted as the next gold mine for Protasco to strengthen its order-book before the revolution happened.

On Protasco's overseas projects, Chong said the group would continue to seek opportunities in other countries to sustain growth.

“We will focus on countries within a four-hour flight zone. It is easier for us to manage,” he said.

Chong also said Protasco was working on the second phase of its property development, De Centrum City, bidding for some infrastructure projects as well as conducting due diligence to venture into the oil and gas business in Indonesia.

Protasco had announced earlier that it was buying 75% of oil and gas outfit PT Anglo Slavic Indonesia (ASI Group) from PT Anglo Slavic Utama for US$55mil (RM168mil).

“We're still awaiting the due diligence report. If it is favourable then we will call for an EGM to put forward the proposal to shareholders,” Chong said.

If the takeover is successful, the move into the energy sector will enable Protasco to diversify its earnings.

ASI Group operates 30 oil wells in the KST Field, located in Aceh Tamiang Regency of Nanggroe Aceh Darussalam Province. It is part of a bigger Rantau Block, which has a total 600 production wells.

On the second phase of De Centrum City, Chong said the gross development value (GDV) was about RM400mil. “We will launch it in mid-2014.”

He said the phase two would be a mixed development consisting of residences, offices, convention centre and a four-star hotel.

Chong also disclosed that the company was negotiating with potential clients for en-block purchase.

De Centrum City is a 87-acre property development with a GDV of RM6.6bil. The GDV of the first phase was RM250mil and shops built in that phase are fully sold.

Going forward, its property division is expected to contribute some 15% to its earnings.

Chong said Protasco's earnings visibility was “positive”. He explained that based on its RM1.7bil order-book, it would translate into some RM400mil a year.

For the first quarter ended March 31, Protasco posted a net profit of RM4.9mil on revenue of RM134.7mil.

Over the past five years, Protasco has been paying consistent dividend. In the financial year ended Dec 31, 2012, the company paid a total 14 sen net dividend per share.

Chong said the group had no dividend policy at the moment but was comfortable distributing 50%60% of its net profit to shareholders.
The Star

Posted by sephiroth > 2013-06-17 09:16 | Report Abuse

the key word "De Centrum City is a 87-acre property development with a GDV of RM6.6bil. The GDV of the first phase was RM250mil and shops built in that phase are fully sold."

Posted by sephiroth > 2013-06-17 09:31 | Report Abuse

The market have underestimate the 6.6b property project and the oil n gas venture

Posted by sephiroth > 2013-06-17 09:34 | Report Abuse

Dividend payout ratio
2008-72.09%, 2009-61.81%, 2010-63%, 2011-74.55%, 2012-110.9%

Posted by Muhammad Arrif B Ahmad > 2013-06-17 09:43 | Report Abuse

beliiiiiiii

Posted by sephiroth > 2013-06-17 11:51 | Report Abuse

just started gear 1

Posted by lex1999 > 2013-06-17 12:01 | Report Abuse

dividend looks good for this counter

Posted by cherry tomato > 2013-06-17 15:41 | Report Abuse

agreed. high dividend yield. good to hold.

Posted by mk88 > 2013-06-17 18:56 | Report Abuse

average dividend yield is 10%, 3 times more than FD and not to
mention capital gain

Posted by halopanda > 2013-06-17 23:33 | Report Abuse

Given that first phase is completely sold, that should contribute to earnings this year. Hopefully the the earnings would have converted into cash flow to be distributed.

Posted by mk88 > 2013-06-18 07:35 | Report Abuse

I think Protsco profit is definitely higher this year. I guess easily more than 10% net than last yr

From property development and write back from Libya project. Conservatively 50% write back from RM20m written off in Libya (based on yesterday Star report) is RM10m. RM10m is 28% of last year net profit.

Hope to see upside suprises in P&L this year

Posted by oilmoney > 2013-06-18 08:35 | Report Abuse

Oil effect brings the price from 1.00 to 1.25, breaking resistance could be 1.35-1.50 anytime. Oil PE is 25x-30x means could be double the value. Watch the price when oil project is completed.

Posted by mk88 > 2013-06-18 08:59 | Report Abuse

For some oil counters PE is 30 to 40 times

Posted by Mohd Ridzuan Othman > 2013-06-19 17:57 | Report Abuse

Tabung Haji pun salah sowang hareholder terbesar disini..

Posted by halopanda > 2013-06-19 22:57 | Report Abuse

English pls

Posted by Amao Mao > 2013-06-20 09:44 | Report Abuse

Target prices anyone? Stocked further for more dividends ^ ^

Posted by mk88 > 2013-06-21 20:34 | Report Abuse

very steady even during heavy thunderstorm today

Posted by halopanda > 2013-06-22 00:27 | Report Abuse

Protasco Bhd (Not rated, TP: 1.31)

JF Apex Securities Bhd in its "Trading Idea" investment research report has placed a RM1.31 target price on Protasco Bhd -- a road construction company.

"Protasco is an under-researched and low profile small-cap contractor which has not attracted much investor attention. The lack of investor interest on the stock is due to the fact that the Group has not been involved in much construction works especially on the high-profile mega projects which were awarded in the past few years although the Group is consistently rewarding shareholders with decent dividend yield of over 6 per cent.

"However, we reckon that market perception on the stock could be changed as Protasco is riding on the current property boom, banking on its project in Kajang, the next hotspot since MRT was announced, and its maiden venture into Oil & Gas segment," said JF Apex Securities.

Protasco currently has an outstanding order book of over RM1.7 billion, comprising five road maintenance jobs that will last the company until 2016-2019 -- thus guaranteeing recurring income of some RM350 million a year.

"Our fair value for Protasco is RM1.31, pegged at 10.5x FY2014F PE, which is in line with our mid-to-upcycle valuation for small-cap construction stocks under coverage. Our target price indicates an upside of 13 per cent against the closing price of RM1.17, together with the estimated dividend yield of 7 per cent, bringing the potential upside close to 20 per cent.

"We favour the stock for its: 1) strategically located property project in Kajang; 2) attractive dividend yields of close to 7%; 3) consistent recurring income with road maintenance concessions; and 4) further diversification into the burgeoning O&G sector," it said in its report on June 14.


Read more at: http://english.astroawani.com/news/show/stock-ideas-astro-malaysia-genting-malaysia-protasco-drb-hicom-16473?cp

Posted by mk88 > 2013-06-22 12:14 | Report Abuse

good coverage from Apex for a start

Write back from Libyan projects and new projects will increase coverage further

Posted by Caiyi Choo > 2013-06-24 20:32 | Report Abuse

So all experts can go in since low today at 1.19.?

Posted by Caiyi Choo > 2013-06-25 09:02 | Report Abuse

Mk88 i am newbie tent to go in 1.15 o1.16 any comment?

Posted by mk88 > 2013-06-25 12:36 | Report Abuse

Caiyi, I am not sure as market is not steady.
At the moment, The market direction is hazey downward.

Perhaps, Halopanda can answer you better

Posted by halopanda > 2013-06-25 22:33 | Report Abuse

Hi. There are 2 reasons for the general downward market trend.

1.) Foreign funds pulling out of emerging markets due to the strengthening of the US dollar and the unwinding of the US dollar carry trade - a result of expectations of Fed tapering the stimulus.

2.) Tightening of credit in China which results in expectations of a slowdown in growth of China, which could possibly affect the rest of Asia and the global economy.

In response to 1.), the majority of the shareholders are the domestic shareholders (Up to 96.78%). We therefore expect any selling from 1.) to be extremely limited, in light of the pull-out of foreign funds. Public shareholding spread of the Company is 44.30%. Assuming that the substantial shareholders do not liquidate their holdings (which is a reasonable assumption given prospects of company), any selling would be further limited.

In response to 2.), we can expect counters with exposure to China directly/indirectly to be affected. Protasco derives its earnings from infrastructure development in Malaysia and possibly Libya in the near future. It's earnings are independent of economic situation in China, USA, EU or any other countries. It is also for this reason that any impact on Protasco's earnings from the financial crisis in 2008-09 were limited. Perhaps earnings from property development may be affected but Malaysia is currently experiencing a boom in property after the elections, which bode well for the company. The Malaysian government has also planned to increase infrastructure spending under the 10th Malaysian Plan as evidenced by increased public borrowing by the Malaysian government.

Conclusion: Despite strong fundamentals, share price can still tank as we have seen from 2008-09 where earnings were relatively stable and dividend payouts were high and consistent. In that period, Protasco fell by more than 50% to RM 0.60. If I had researched on Protasco during that period, I would certainly have swept up the shares. However, the current situation is nothing like 2008-09 and I would expect earnings to strengthen year-on-year given recent developments for Protasco. I cannot say for certain if the price will hit RM 1.15 but I am optimistic about the prospects of Protasco and would not sell out at this point in time.

To Caiyi: To ans your question, I would buy at 1.16 if it ever reaches that price but that's just me. I wouldn't want to be responsible for your gains or losses so it would be ideal if you could do some research and make an informed and independent decision.

Posted by anbz > 2013-06-26 11:55 | Report Abuse

sephiroth protaso director, tey por yee keep buying weird companies like nextnation and maemode
26/06/2013 11:42

tonylim Sephi... probably a soh chee wen of this decade. If you know what I mean. Meanwhile I hope he keep the money in protasco intact and not to f around
26/06/2013 11:46

Posted by arv18 > 2013-06-26 20:13 | Report Abuse

poor governance. lack of transparency. otherwise this share would be picked up by many funds.

Posted by arv18 > 2013-06-26 20:14 | Report Abuse

also dumb decisions - O & G for a road maintenance co. wtf???

Posted by Caiyi Choo > 2013-06-26 21:35 | Report Abuse

Hi expert 1.19 still can buy

Posted by Caiyi Choo > 2013-06-26 21:38 | Report Abuse

Tq halopanda n mk88 i ask for 1.16 2 days still stand high see till friday tq for advice

Posted by Alex Lim > 2013-06-26 22:20 | Report Abuse

this friday is ex-date. should less than 1.15 when open

Posted by halopanda > 2013-06-27 04:26 | Report Abuse

Since when is there proper governance and transparency in Malaysia...

Posted by mk88 > 2013-06-27 07:19 | Report Abuse

Today is the last day for investor that interested in 4 cts dividend, stock will ex-dividend tmrow Friday.

As yesterday closing was RM1.19 - 4 cts = RM1.15 and the return is 3.3% in a day (vs bank fd in a year), assuming the share price is unchanged.

Posted by garygee77 > 2013-06-27 14:04 | Report Abuse

is this stock still can keep?or run after pt?need advise...

Posted by cherry tomato > 2013-06-27 14:17 | Report Abuse

if u short term player better run...
u can see the trend never past 1.22

Posted by garygee77 > 2013-06-27 14:29 | Report Abuse

tq for advise

Posted by mk88 > 2013-06-27 15:04 | Report Abuse

agm today, any interesting news?

Posted by necro > 2013-06-27 19:34 | Report Abuse

10-20%GROWTH IN NET PROFIT

Posted by sephiroth > 2013-06-27 19:46 | Report Abuse

last year net profit RM35.88m or 12.1 sen per share
if 10% growth profit RM39.47m or 13.3 per share
if 15% growth profit RM41.26m or 13.9 sen per share

Posted by mk88 > 2013-06-27 21:15 | Report Abuse

10 to 20% profit growth is achievable, write back from
Libyan project already can achieve the figure, no to mention property
dev project

Posted by Robertchee > 2013-06-28 09:49 | Report Abuse

Confident this stk will continue to go up soon! So hold on, take profit after sharp rise only!