Rental for advertising space. We can be certain now that Perak Transit’s (Ptrans) FY17 earnings, which will be due this month, will be ended with a bang. This is after being informed that the rental for advertising space has been revised higher by approximately 7%, effective Sep-17, after the group converted some of the space within Terminal Amanjaya (Terminal AJ) for digitised advertising activities. This will then be followed by another hike of approximately 5%, effective Apr-18, for the normal annual increment. All these came as a surprise to us as the timing and the quantum of the rent escalations came in better than our expectation. In our previous forecast, we project rental reversal of 5%, effective Apr-18 for the lease of advertising space. Rental for promotional space. Besides, we can also look forward to a prosperous FY18 as the company is affirmative that the rental rate for promotional space would be revised higher by approximately 15%, effective Apr-18. The hike is higher than our expectation of 5% as the group has managed to free up more net lettable areas by taking out those bus ticketing booths within Terminal AJ after a successful implementation of centralised ticketing system for express bus operations in Ipoh. Terminal Kampar to commence in end-18. As far as the new terminal, i.e.: Terminal Kampar, is concerned, we understand from management that construction works are progressing smoothly and the integrated terminal would likely open for express bus operations by end- 18. Meanwhile, the hotel, Cineplex and other F
Terminal Kampar to commence in end-18. As far as the new terminal, i.e.: Terminal Kampar, is concerned, we understand from management that construction works are progressing smoothly and the integrated terminal would likely open for express bus operations by end- 18. Meanwhile, the hotel, Cineplex and other F
We raise our FY17-19 earnings higher by 5-11% after changing our rental assumptions for advertising and promotional space within Terminal AJ. Valuation We raise our SOP-valuation to 52sen/share (from 49sen/share previously). The target price is increase to RM0.46 (from RM0.44 previously) after pegging a 10% discount to the group’s SOP-valuation (see Figure 1). We continue to like the stock for its superior earnings quality where the bulk of the group’s earnings are recurring. Meanwhile, we foresee earnings expansion and TP upgrade post completion of Terminal Kampar in end-18. Maintain Buy.
@Nick Motor u know who i know and why i bought PTRANS. i'm all in since 0.275-0.285 and dividend also got already. as i said, end of month we can harvest . Gong Xi Fa Cai bro ;;
Ha ha ha . I can only see foolishness and greediness here. Those who have bought, please hold. I know how much profit the made this quarter. Don’t ask me how much but a good percentage compared to earlier.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Haters
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Posted by Haters > 2018-02-09 09:13 | Report Abuse
oversold stock. no seller no drop.