Posted by bojed > 2022-07-08 22:10 | Report Abuse

I'm still holding since I bought it at 0.685 back in May YEEEEHAAAA!!!!

Posted by PSAi3alert > 2022-07-13 13:01 | Report Abuse

ISSUES WITH PERAK TRANSIT BERHAD

Perak Transit (PTrans) reported:
FY2021 Revenue increased by 16.06% to reach RM138.573M
PBT increased by 38.33% to reach RM67.807M
Terminal operations revenue increased by 26.24%
Bus operations revenue decreased by 5.25%

However, it's peers KTB reported 41.22% decrease in revenue and Gets Global reported 86.4% decrease in revenue.


Perak Transit reported that electricity consumption dropped by 42.83% in FYE2021

_________________ FYE 2020 ________ FYE 2021
Electricity (kWh) ___ 1,952,983 _______ 1,116,593

The cost of energy and its associated emissions are correlated with the overall passenger and traffic footfall



--->>> How can PTrans report higher revenue

-- when electricity consumption in the terminals dropped by 42.83%

-- its peers reported sharp drops in revenue



-------

Konsortium Transnasional Berhad (Transportation business revenue dropped by 41.22%)

pg 17 2021 Annual Report

The Group’s revenue from the transportation business decreased by approximately RM12.09 million or 41.22% to RM17.24 million for the FYE 2021 as compared to RM29.33 million for the FYE 2020. The express bus service sector contributed 4.39% of the revenue whilst the stage bus service sector contributed 59.23%.


-------

Gets Global (Bus services revenue dropped by 86.4%)

pg 114 2021 Annual Report

Revenue_______________ 01.07.19 - 30.06.20 ______ 01.07.2020 - 30.09.21
City bus services __________ 7,676,833 _________________ 1,193,790
Express bus services _______ 5,803,715 _________________ 633,938


-------

Perak Transit (Terminal operations revenue increased by 26.24%, bus operations revenue decreased by 5.25%)

page 13 2021 Annual Report
Integrated Public Transportation Terminal Operations Segment
The Group recorded revenue from this segment of RM89.58 million which accounted for 64.65% of the total revenue recorded for FYE 2021. The Group’s revenue from this segment improved by RM18.62 million or 26.24% compared to the FYE 2020 of RM70.96 million. This increase was mainly due to the contribution of rental income from leasing some commercial area at Terminal Meru Raya and Kampar Putra Sentral to logistic tenants which commenced in September 2021 and from leasing of A&P spaces at Kampar Putra Sentral which commenced in September 2020.

Bus Operations Segment
The Group’s revenue from bus operations segment decreased from RM25.51 million during the FYE 2020 to RM24.17 million in FYE 2021


Perak Transit (Electricity consumption dropped by 42.83%)
Page 38 2021 Annual Report
The cost of energy and its associated emissions are correlated with the overall passenger and traffic footfall


In FYE 2021, we have two bus terminals in operation, namely Terminal Meru Raya and Kampar Putra Sentral. Our terminals as well as office use indirect energy in the form of electricity purchased from Tenaga Nasional Berhad. The following shows our Group’s total electricity consumption level:

_________________ FYE 2020 ________ FYE 2021
Electricity (kWh) ___ 1,952,983 _______ 1,116,593


-------

PTrans Annual Report

https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=215500&name=EA_DS_ATTACHMENTS


KTB Annual Report

https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=216642&name=EA_DS_ATTACHMENTS


Gets Global Annual Report

https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=213843&name=EA_DS_ATTACHMENTS

.

Posted by TreeTopView > 2022-07-13 14:10 | Report Abuse

Firstly, it might be a good idea to compare apples with apples, and not apples with absolute lemons.
How you can compare the PTrans business model with KTM and even more bizarrely Gets Global, beggar's belief.

Just a thought, as you are so keen to delve into annual reports, I suggest you look at page 100 of the PTrans AR2021, which gives a concise revue of where ALL of its revenue is derived from.

Enough from me, I'm just about over all the garbage that gets posted on this forum. Some threads are now beyond even reading, let alone commenting on.

Posted by PSAi3alert > 2022-07-13 15:04 | Report Abuse

TreeTopView,

The rental income is not consistent with a 42.83% drop in electricity usage in the terminals.

RM39M of project facilitation fee and all from a single party - Maksima Timur Sdn Bhd?!

The project facilitation fee issue has been elaborated by Choivo Capital at:

https://choivocapital.com/2020/05/23/perak-transit-berhad-the-peculiar-rm3-2bil-rm4-8bil-bus-terminal-boom-in-malaysia-ptrans-0186/

.

Posted by zen_2k > 2022-07-13 15:22 | Report Abuse

just sell, so i can collect cheap tickets @PSA :3

Posted by TreeTopView > 2022-07-13 18:16 | Report Abuse

You are using this company's link to back up your claim?.....lol.....you can't be serious?!
A bit more about this "private investment company" you seem to have a high regard for..........https://choivocapital.com/about-us/

I use the term "company" very loosely!

There are more holes than there are in Swiss cheese in the "article". Has he never heard of using a phone and asking direct questions instead of being ambiguous with very low level comment?

Sorry dude, you'll have to come up with something a lot better than that to denigrate PTrans and your mission to hassle a poster on another i3 thread. Your intentions are far too clear.

Cheerio, for the last time.

Posted by anthonytkh > 2022-07-13 18:19 | Report Abuse

I now have doubts bout the reason PSA is here :

1) Transnational
Nadzmi company. Go figure

2) Gets Global
Azizzudin company. Go figure even more

I’d met with both these companies in not-so-recent years. Re Nadzmi… it was with his Transocean CFO, even visited their run down Prai and Georgetown assets… Azizzudin, met with their manager in their Sri Hartamas office… if you only know Azizzudin…

Analyse all you want. I invest and I trade. You want to be a saviour or a portender of doom, go right ahead. I’m a well learned reader of Michael Covel’s trend following

Peace, PSA. As always, we shall see, huh?

Posted by TreeTopView > 2022-07-13 18:36 | Report Abuse

Tony, his reason is simple, you upset his promo of Tsh.
I jumped in there (Disclaimer: absolutely no interest in Tsh) and saw his comments, so it was obvious what was coming.

Talking of i3 going down the toilet pan, that thread is a perfect example.

Posted by anthonytkh > 2022-07-13 18:53 | Report Abuse

Aisey, now you call me Tony. Only 3 persons call me that… :)

I dunno bout me upsetting him in TSH. I don’t check these kinda things. Strangers. I let them be unless I need to correct mistakes

Posted by TreeTopView > 2022-07-15 10:00 | Report Abuse

Unusually high volume going through in the first hour, almost 4 million, along with a move up in price.
Hmmmm..........

Posted by yewnamhung > 2022-07-15 10:17 | Report Abuse

Any good announcement .... ?

Posted by TreeTopView > 2022-07-15 15:50 | Report Abuse

Certainly a change in short term sentiment this afternoon compared to the frenzied first hour buying :)

Posted by Aimanxkesah > 2022-07-15 16:27 | Report Abuse

sifu @TreeTopView, it is the signal to sell or buy more now?

Posted by anthonytkh > 2022-07-15 16:33 | Report Abuse

Just under a year ago, two things happened that caught my eye…

Boss has stopped buying for a week after buying for a long time…

Posted by yewnamhung > 2022-07-15 16:37 | Report Abuse

https://www.theedgemarkets.com/article/perak-transit-eonmetall

Posted by anthonytkh > 2022-07-15 16:51 | Report Abuse

Yewnamhung, why did you post that? That’s quite awhile ago. Nothing related at all to what happened today. What happened today must have something to do with what happened almost exactly 2 years ago; an off market transaction as well as MTN. The timing of boss doing a margin transfer a week ago and stopped buying add to the intrigue…

Ptrans and Emetall have nothing in common.

Emetall and Lsteel have the same boss (Dto Goh) however…

Posted by anthonytkh > 2022-07-15 17:29 | Report Abuse

Sorry, I meant 1 year ago…

Posted by TreeTopView > 2022-07-15 18:43 | Report Abuse

He's back in the saddle again........giddy up :)

DATO' SRI CHEONG KONG FITT (a company director) acquired 380,000 shares at 0.832 on 15-Jul-2022.

Posted by bowls > 2022-07-18 10:18 | Report Abuse

it doesn't even manage to touch 0.85

Posted by PSAi3alert > 2022-07-18 22:00 | Report Abuse

zen_2k,

Unfortunately, I do not have any cheap tickets to sell to you.

I am of the opinion that the financials of PTrans are falsified.

Last year, I wrote to the SC about issues in three companies. Submissions on Ucrest and KeyAsic were initiated May 2021 - SC reference SC2021-19652. Submissions on Serba was done later.

I'm probably going to write to the SC and AOB about Ptrans.

Ptrans' major customers - Maksima Timur, Rezeki Megajaya and Century Edge Group ought to be investigated as well.

You will likely get to collect cheap tickets after that.


-------

zen_2k

just sell, so i can collect cheap tickets @PSA :3

5 days ago

Posted by TreeTopView > 2022-07-19 07:41 | Report Abuse

DJ TreeTop spinning the tracks this morning and this one goes out to PSAi3alert.

https://www.youtube.com/watch?v=YCKgbfwVrq0

Interesting line, "I am of the opinion that the financials of PTrans are falsified. "

No ambiguity there.

Posted by software guy > 2022-07-19 09:50 | Report Abuse

https://twitter.com/JJ39132147/status/1548849291221147649?s=20&t=EulW-PvC27Ip4eFvHfPaEA

Posted by cheeseburger > 2022-07-19 11:17 | Report Abuse

there are thousands of falsified statement in this i3 forum as well. Pls go investigate them.

Posted by TreeTopView > 2022-07-19 18:42 | Report Abuse

A bullish engulfing candle today (Tuesday 19th), so let's see if it follows through tomorrow with an upward move.

Posted by anthonytkh > 2022-07-19 19:06 | Report Abuse

I don’t even know what’s a bullish engulfing candle… is it good ah?

Posted by anthonytkh > 2022-07-19 19:09 | Report Abuse

Unfortunately Ptrans don’t yet have the valuations for a PTransREIT…

Posted by bojed > 2022-07-20 16:46 | Report Abuse

YEEEEHAAAAAA!!!!!

Posted by Tham Hoe Yean > 2022-07-20 17:57 | Report Abuse

Luckily i buy back immediately in previous day dropped. More to come

Posted by anthonytkh > 2022-07-20 18:08 | Report Abuse

PSA, go write to SC. Rhb covered this company. You think a bit

Sorry, only just checked in this thread. Less is better, huh?

Posted by TreeTopView > 2022-07-21 09:14 | Report Abuse

If the upward trend is continuing, then look to 87 and 92 cents as target points, imo.
No, I don't mean it is happening today or tomorrow :)

Posted by cheeseburger > 2022-07-21 11:11 | Report Abuse

now you should know why dato seri keep on buying..

Posted by FlyingElephant > 2022-07-22 09:11 | Report Abuse

more to come from this company..the dividend yield is a good cushion should the market deteriorates.

Posted by dragon328 > 2022-07-22 14:08 | Report Abuse

How do you address the elephant in the room issue - project facilitation fee and all from a single party - Maksima Timur Sdn Bhd?!

The project facilitation fee issue has been elaborated by Choivo Capital at:

https://choivocapital.com/2020/05/23/perak-transit-berhad-the-peculiar...

Posted by dragon328 > 2022-07-22 14:14 | Report Abuse

Project facilitation fee has ballooned to over RM29 million in FY2019 from RM3.8m in FY2014 and RM9.6m in FY2015. While the 2016 IPO prospective detailed breakdown of the project facilitation fee in FY2015 (i.e. from Terminal Kampar, Kemaman and Kota Bahru) totalling RM9.67m which was 2.5% of total project GDV of RM386.48m.

With a project facilitation fee of RM29.35m in FY2019, it means such fee was earned from projects with total GDV of RM1,174m assuming the same 2.5% fee margin. What were these projects that cost over RM1.17 billion?

Posted by dragon328 > 2022-07-22 14:19 | Report Abuse

There has been no breakdown of how much this project facilitation fee has contributed to the company earnings since FY2020. Only in the March FY2022 quarterly result notes, it mentioned that the increased in group revenue and earnings in Q1FY2022 from Q4FY2021 was due to recognition of project facilitation fee in the Q1FY2022 quarter.

It implied a project facilitation fee of RM7.7m in revenue contribution and RM6.0m in Profit before tax contribution. Annualising this will give a total revenue contribution of RM30.8m contribution from project facilitation fee, and this would be a new record high.

Posted by dragon328 > 2022-07-22 14:23 | Report Abuse

There is no visibility in such project facilitation fee in next few quarters. If I were to strip out this facilitation fee, full year profit before tax may total RM54 million only and net profit at RM40.5 million or EPS of just 5.7 sen.
Before we get more visibility in such project facilitation fees, I would caution in chasing high.

Posted by TreeTopView > 2022-07-22 14:59 | Report Abuse

@dragon328, would I be right in thinking this is Jonathon?

A couple of points regarding the Project Facilitation Fee:

1. The company clearly stated their PFF earnings for 2021 in their AR.
2. Current 12 month PFF earnings has been already clarified by their order book.
3. There is a Youtube video with the GM and CFO explaining how the PFF is earned and why it is growing.
4. If none of those suit you criteria and agenda, I suggest you call the company, as they are very accommodating

Apart from that, have a fabbo weekend.

Posted by dragon328 > 2022-07-22 16:42 | Report Abuse

Thanks TreeTopView. No I am no Jonathon

I shall check its 2021 AR

Posted by dragon328 > 2022-07-22 16:43 | Report Abuse

Don't get me wrong. I do think this is a great company with unique business model.

Have a great weekend!

Posted by TreeTopView > 2022-07-22 16:55 | Report Abuse

You're not Jonathon...really? OK, I'll buy that....for now :)

It's certainly a very good impersonation of him, in fact so good that I may ask you to do a Jackie Chan impersonation :)

Posted by dragon328 > 2022-07-22 17:22 | Report Abuse

From AR 2021, project facilitation fee made up RM39m out of total revenue of RM89.6m for FY2021 and made up RM39.55m out of total revenue of RM70.95m for FY2020.

The amount has gotten bigger since 2019. It implies a total project GDV of over RM1.50 billion handled in each year of FY2020 and FY2021 assuming a same 2.5% fee margin. No information is given on what projects the company has handled though.

I shall try to get more info from company management then.

Posted by anthonytkh > 2022-07-22 17:26 | Report Abuse

Check RHB’s 2021 Top20 Small Cap which RHB released more than a year ago. I very much doubt the Ptrans bosses lied to RHB during their meeting back then…

Posted by PSAi3alert > 2022-07-22 17:27 | Report Abuse

dragon328,

Here are the hard facts, bus fare income was only RM1.352M in 2021, about 1% of total revenue for the year.

Between 2019 and 2021:
Bus fare income plunged by 87.6%
Entrance fee fell 81.6%
Car park fee dropped by 84.3%
Rental income increased by 92.52%
Project facilitation fee increased by 32.88%
Net margin for 2021 was a record high of 38%


PTrans RM (Millions)
__________________________________ 2019 ______ 2020 _____ 2021
Bus fare income ________________ 10.902 _____ 3.964 _____ 1.352
Govt support fund _______________ 14.307 _____ 13.109 ____ 14.397
Bus charter and advertising _____ 8.369 ______ 8.436 _____ 8.424
Rental Income __________________ 25.537 ____ 30.857 _____ 49.165
Project facilitation fee ___________ 29.350 ____ 39.550 _____ 39.000
Entrance fee ____________________ 0.0816 ____ 0.0333 _____ 0.0150
Car park fee _____________________ 0.495 ______ 0.156 ______ 0.0773
Profit sharing terminal mgmt ___ 0.373 _____ 0.357 ______ 0.218


Between 2015 and 2021, RM171.64M was recognized as PFF income. At 2.5% of GDV, RM6,865.6 millions worth of bus terminals would have have been built. Locations of those terminals have never been accounted for.

PTrans RM (Millions)

Year _____ PFF ____ Rental ____ Advert ____ Net Profit , margin
2015 ____ 9.669 ____ NA _______ NA ______ 19.188 , 26%
2016 ____ 13.914 ___ NA _______ NA ______ 21.724 , 24%
2017 ____ 18.457 ___ 21.738 ____ 7.347 ____ 29.015 , 27%
2018 ____ 21.700 ___ 23.327 ____ 7.347_____ 36.030 , 32%
2019 ____ 29.350 ___ 25.537 ____ 8.369 _____ 40.009 , 32%
2020 ____ 39.550 ___ 30.857 ____ 8.436 _____ 42.046 , 35%
2021 ____ 39.000 ___ 49.165 ____ 8.424 _____ 53.225 , 38%

.

Posted by PSAi3alert > 2022-07-22 17:28 | Report Abuse

PTrans major customers for PFF, rental, advertisement and bus charter are:
Maksima Timur represents - all of PTrans' Project Facilitation Fee Income
Rezeki Megajaya - PTrans' major customer for rental of A&P spaces and bus charter
Century Edge Group - undertakes the rental of promotional spaces

Those 3 companies would have contributed RM96 million to PTrans revenue in 2021. However, searches on those 3 companies show that their own combined reported revenue is only about RM60 million.

Maksima Timur and Rezeki Megajaya have both reported losses of over RM4 million each.

Maksima Timur's current liabilites have swelled to RM128 millions.


Maksima Timur Sdn Bhd
Auditor: CWC & Company (AF0873)

FYE (RM Millions)________ 30-09-2020 _________ 30-09-2021
Revenue _________________ 29.595 _____________ 37.125
PBT _____________________ -1.881 _____________ -3.605
PAT _____________________ -1.314 _____________ -4.007
Non-Current Assets ______ 22.37 _____________ 8.368
Current Assets ___________ 104.446 ___________ 122.332
Non-Current Liabilities ___ 2.552 _____________ 1.175
Current Liabilites ________ 118.804 ____________ 128.071
Share Capital ____________ 0.300 _____________ 0.300
Retained Earnings _______ 5.16 ______________ 1.153


Rezeki Megajaya Sdn Bhd
Auditor: CWC & Company (AF0873)

FYE (RM Millions)______ 30-09-2021
Revenue _____________ 6.925
PBT _________________ -4.267
PAT _________________ -4.413
Non-Current Assets _____ 0.388
Current Assets _________ 8.513
Non-Current Liabilities ___
Current Liabilites _______ 11.460
Share Capital __________ 0.100
Retained Earnings ______ -2.66


Century Edge Group Sdn Bhd
Auditor: LKH & Co (AF002089)

FYE (RM Millions)______ 31-12-2020
Revenue _____________ 17.997
PBT _________________ 0.0244
PAT _________________ 0.0200
Non-Current Assets _____ 0.0039
Current Assets _________ 8.853
Non-Current Liabilities ___ 0.0006
Current Liabilites _______ 8.765
Share Capital __________ 0.01
Retained Earnings ______ 0.08


.

Posted by PSAi3alert > 2022-07-22 17:36 | Report Abuse

https://www.theedgemarkets.com/article/perak-transit-seeks-new-revenue-streams

[Perak Transit executive director Datuk Cheong Peak Sooi highlights that since September last year, the group has seen new revenue contributions from two logistics tenants — B&L and UFO — at both Terminal Meru Raya and Kampar Putra Sentral. “We expect to see a new revenue contribution of around RM2.5 million to RM3 million every month,” he estimates.]

B&L & UFO courier are new setups and they are merely agents for local courier companies.


Web domain: bandlexpressampangipoh.com
Created: 2021-06-27 06:50:52 UTC

Office:
https://lh3.googleusercontent.com/p/AF1QipNY-G82Pq2ecFJ88OMonYj1ZpCvENKL2yYU1LeA=w960-h960-n-o-v1


UFO Express

Office:
https://www.facebook.com/photo/?fbid=251806123801478&set=ecnf.100069576281471

.

Posted by anthonytkh > 2022-07-22 17:42 | Report Abuse

Dude, I take extreme exception to your “merely agents”, uh, erm, “description”…..

Posted by TreeTopView > 2022-07-22 19:06 | Report Abuse

I was going to start a lengthy reply but decided I was enjoying my beer too much (it is Friday, after all) and that it is also up to the company to "defend" itself, not me.

I couldn't let these two pass through to the wicket keeper before smashing them out of the ground, though.
"Between 2015 and 2021, RM171.64M was recognized as PFF income. At 2.5% of GDV, RM6,865.6 millions worth of bus terminals would have have been built. Locations of those terminals have never been accounted for. "

WOW, just wow!! You clearly have no idea what the PFF revenue encompasses. Stating that Rm7 Billion worth of new bus terminals have been built is insanity.

Then your next gem.........."Perak Transit executive director Datuk Cheong Peak Sooi highlights that since September last year, the group has seen new revenue contributions from two logistics tenants — B&L and UFO — at both Terminal Meru Raya and Kampar Putra Sentral. “We expect to see a new revenue contribution of around RM2.5 million to RM3 million every month,” he estimates.

Well, this one you almost got right.....BUT.......that was only a partial quote from the Director. The reality is that current monthly revenues from the logistic partners are much lower than that figure and when you research the full transcript you will see that it was only guidance on what they eventually expect to collect from their eventual logistics hubs.

Partial quotes from media can be sometimes misleading. As an example........
"It has been reported that PSEi3alert has a massive dick".........sounds good so far, right? However when you read the full quote it changes a bit......."It has been reported that PSEi3alert has a massive dick in comparison to an ant's dick". Not quite so good now.

Anyway, my time with you is done......the beer beckons.

Posted by anthonytkh > 2022-07-22 19:28 | Report Abuse

Lol

Posted by PSAi3alert > 2022-07-22 20:01 | Report Abuse

The 2.5% of GDV value for PFF fees has been detailed in PTrans IPO prospectus

There is only one customer for the PFF income

PTrans PFF reported revenue from Maksima Timur has exceeded Maksima Timur's revenue!!!



PTrans Revenue (RM Millions) _______ 2020 _____ 2021
Project facilitation fee ______________ 39.550 _____ 39.000

Maksima Timur
FYE (RM Millions)________ 30-09-2020 _________ 30-09-2021
Revenue _________________ 29.595 _____________ 37.125
PBT _____________________ -1.881 _____________ -3.605
PAT _____________________ -1.314 _____________ -4.007
Current Liabilites ________ 118.804 ____________ 128.071


--------
Excerpts from PTrans prospectus


During PTrans IPO in 2016, the following information was provided:

Projects _____________________ Est GDV RM (M) ____ PFF RM (M) _____%
Terminal Kampar, Perak __________ 128.33 __________ 3.22 _________ 2.5%
Terminal Kemaman, Terrengganu ___ 64.15 _________ 1.60 _________ 2.5%
Terminal Kota Bahru, Kelantan _____ 194.00 __________ 4.85 _________ 2.5%


Maksima Timur represents all of PTrans' Project Facilitation Fee Income and includes acting as Project Manager (for the construction of new integrated land transportation terminal complexes) to prospective parties. Services by PTrans to Maksima Timur include rental of Terminal AmanJaya's equipment, utilities and facilities, preparing preliminary concept paper for proposed project, discussion and sharing of knowledge relating to design, planning and construction of terminal and attending all meetings organised by Maksima Timur with SPAD and other governmental departments.

Page 71 IPO Prospectus
Premised on our services above, in the FYE2014, FYE 2015 and the FPE 2016 our Group derives revenue in the form of the Project Facilitation Fee from one (1) customer, namely, Maksima Timur

.

Posted by dragon328 > 2022-07-25 15:58 | Report Abuse

The initial feedback from the management is encouraging. They clarified that project facilitation fee is mainly consultancy fee received by providing advice and expertise in relation to new terminal development, typically at 2.5% of project GDV but sometimes higher.

The reason for increasing PFF in recent years is because the group has ventured more to other states to advise state authorities / developers on new terminal projects and also rejuvenation work on existing transportation terminals to improve on rental income. Some of the new terminal projects are just at planning stage and may not even get constructed but Ptrans charged for consultancy services at this early stage of development.
As for the huge amount of RM39m p.a. in FY2020-2021 and implied GDV of over RM1.0 billion, the management clarified that these were from a number of projects in different states, each with a GDV of RM200m - 400m. Due to confidentiality, the management cannot disclose some of these projects and their owners/locations yet until the project finally achieves Final Investment Decision (FID) and the project owner announces it publicly.