COASTAL CONTRACTS BHD

KLSE (MYR): COASTAL (5071)

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Last Price

1.68

Today's Change

-0.04 (2.33%)

Day's Change

1.68 - 1.71

Trading Volume

188,800

Price Target

A price target is an analyst's projection of a share's future price. 

Average Target Price, Price Call and Upside/Downside here are derived from Price Targets in the past 6 months.

Last Price

1.68

Avg Target Price

2.55

Upside/Downside

+0.87 (51.79%)

Price Call

1

SELL

3

HOLD

10

BUY

Date Open Price Target Price Upside/Downside Price Call Firm View Action
Discussions
15 people like this. Showing 50 of 3,422 comments

Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥

Coastal Contracts Bhd’s net profit jumped more than threefold to RM153.66 million for the third quarter ended March 31, 2023 (3QFY2023) against RM44.32 million in the previous corresponding period, mainly buoyed by a higher share of profit of joint venture (JV) amounting to RM129.87 million. This was on the back of higher interest income earned from a loan granted to a JV and greater profit shared from its JV in the gas processing division. The oil and gas outfit’s revenue rose 3.5% to RM55.74 million from RM53.84 million previously.

2023-05-24 06:52

Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥

Profit after tax
1Q23 141.5 m
2Q23 140.7 m
1H23 282,2 m
It is probable that its earnings for the whole year = 2 x 282m = 564vm

At 2.35 per share, its market cap is 1282.642 m

Based on assumptions, projected:
P/E = 2.3x
Latest FY ROE 13.31%
Book Value per share RM 2.57
P/B 0.91

DPS 2023 15 sen

2023-05-24 07:26

Sslee

Good morning 3i,
Mind explaining what the below mean?
And since 31 March 2023 come and gone so the JV partner already forfeit the 50% share of profit of RM 206,676,000?

Should the Shares Sale was completed on 31 March 2023 and the equity accounting method been applied in accordance with MFRS 11 based on the Company’s eventual effective shareholdings in the JVC which is 50%, the

Effect of the Shares Sale to
the profit for the period would have been as follows:

Individual: Cumulative
3 months ended 31 March 2023: 9 months ended 31 March 2023
RM'000: RM'000
Profit for the period: 155,287: 437,479
Less: Effect of the Shares Sale: (206,676): (206,676)
Adjusted (loss) / profit for the period: (51,389): 230,803


Upon completion of the Shares Sale, the Company shall account 50% of the JVC’s results under equity accounting method. In addition, the above mentioned Effect of the Shares Sale would be accounted for as a loss on disposal of effective interest in the Joint Arrangement.

2023-05-24 08:05

Jack Khan

Meaning this share are have potential like SerbaDinamik

2023-05-24 08:21

Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥

Latest

Profit after tax
3Q23 153.7 m

Net Asset Per Share RM 3.40

The Group achieved a higher profit before tax of RM158.8 million in 3Q2023 compared to RM151.0 million reported in 2Q2023, an increase of 5%. Against 3Q2022, the profit before tax has risen 220% from RM49.7 million. The year-on-year improved performance was mainly attributed to the higher profit shared from the joint venture and interest income earned from loan granted to the joint venture.

2023-05-24 08:37

Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥

SSLee Thanks for highlighting the risks. This is useful.

2023-05-24 08:38

lloydlim

Time to accumulate.

2023-05-24 13:08

Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥


The Group's borrowings as at the end of the quarter were as follows:

Group Borrowings and Debt Securities
As at
31 March 2023
RM'000
Short term
Secured 39,419
Unsecured 299,159
338,578

Long term
Secured 60,802
Unsecured 28,765
89,567

Total 428,145



The current gearing is within management comfort level.
Apart from RM16.8 million of secured borrowings which are denominated in Ringgit Malaysia, all the other borrowings are denominated in United States Dollar.

The debt-equity ratio of the Group has decreased to 0.236 from last quarter's 0.247. Internally generated funds derived from operations were utilised to sustain the Group's working capital requirements during the quarter under review.

2023-05-24 13:12

Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥

Should the Shares Sale was completed on 31 March 2023, the Company's eventual effective shareholdings in the JVC will be 50% and the effect of the Shareholding on the profit for the period would have been as follows:

Cumulative 9 months ended 31 March 2023
RM '000
Profit for the period 437,479
Less: Effect of the Shares Sale (206,676)
Adjusted (loss)/profit for the period 230,803

2023-05-24 13:21

Jerichomy

Post removed.Why?

2023-05-24 22:23

OTB

I bought Coastal around 2.00 a few months back.
I also recommended this stock to all readers here, I am responsible for my recommendation.
KLSE is bearish and I failed to understand the profit of Coastal and the complex of its accounting method.
I had taken my profit yesterday.
My recommendation and my responsibility is ended here.
Please be informed.
Thank you.

2023-05-25 10:56

BobAxelrod

I feel it's time to let out some steam....I just cannot stand such scumbags!!!

Few months back at HRC, this bogus scammer's macai said they bought Coastal and recommended to everyone.....yet he doesn't even know what price they bought and at 2.55, they were not making profits......THEN HE SAID THEY BOUGHT AT 2.25.......NOW THAT GODDAMN SCAMMER SAID THEY BOUGHT AT 2.00????? Puii

2023-05-25 11:00

OTB

I posted my buy recommend on Coastal when the share price is around 2.07.
I checked my records.
I also bought some Coastal shares below 2.00.
I did not tell any lies here.
Who is the shameless liar here ?
Pui

2023-05-25 11:21

BobAxelrod

All records at HRC...so many people such as Lurker, Sslee, Ular all was there..........

2023-05-25 11:23

OTB

I am here to share information, but not to attack any person.
I want to see the proof if I am wrong.
Show me your proof.
My first recommendation is around 2.07, definitely not 2.50.
I will admit if I quoted wrong figure.
I never tell any lies here.
I will admit wrong if I am wrong.
Not losing money still claim making money to show his pride.
That is not my character.

2023-05-25 11:40

Jerichomy

Haha

2023-05-26 00:10

Jerichomy

319 page hiap tek

Posted by onhands > 2022-09-27 19:11 | Report Abuse
Blog: Why is Mr Ooi Teck Bee’s Rm 1.16 target for Hiap Teck easily achievable? Koon Yew Yin

2021-10-24 21:48 | Report Abuse


onhands
158 posts
Posted by onhands > 2022-09-27 19:24 | Report Abuse
Blog: Hiap Teck will shoot like a rocket - Koon Yew Yin

2021-08-29 21:31 | Report Abuse

Shoots up like SpaceX Starship rocket?


onhands
158 posts
Posted by onhands > 2022-09-27 19:26 | Report Abuse
it is Space Shuttle Challenger


dompeilee
11,423 posts
Posted by dompeilee > 2022-09-29 17:16 | Report Abuse
Whatever old con KYY tells u 2 buy...u SELL!


TreeTopView
1,324 posts
Posted by TreeTopView > 2022-09-29 18:51 | Report Abuse
Hiap Teck's 4Q net profit tumbles 59.53% on lower profit margin despite revenue jump.

https://www.theedgemarkets.com/article/hiap-tecks-4q-net-profit-tumbles-5953-lower-profit-margin-despite-revenue-jump


Phoebe
286 posts
Posted by Phoebe > 2022-09-29 19:12 | Report Abuse
Die standing. Rest in peace.
Don't worry. As a consolation, You will soon receive sorry, sorry, sorry.
Sorry....poof!!! 100k loss
Another Sorry.....pooof!!! Another 100k gone
Sorry.....poof!!!.....rest in peace Capital

2023-05-26 00:11

Jerichomy

Post removed.Why?

2023-05-27 01:58

Bon888

Post removed.Why?

2023-05-27 07:21

Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥

To recap, Coastal still holds 100% shares in JV company Coastoil Dynamic S.A.De C.V. (CDSA) that owns the Papan and Perdiz projects at Mexico. The transfer of JV partner Nuvoil group’s 50% stake in CDSA is expected to complete by 2HCY23. For now, Coastal recognises 100% of CDSA’s profits as its JV profit. Upon completion of the share transfer, accrued JV profit will be transferred back to Nuvoil.
Note that the 9M comparison may not be meaningful as the group applied equity accounting method on CDSA in 3QFY22.

2023-05-27 07:48

Jerichomy

Post removed.Why?

2023-05-27 10:51

Jerichomy

Post removed.Why?

2023-05-27 10:52

Bon888

Jerichomy really? You working in oil and gas industry? You cook half boiled eggs for the offshore workers?

2023-05-27 11:18

Jerichomy

Post removed.Why?

2023-05-27 12:48

Bon888

Tell me about your oil and gas experience lah else I guess you can only cook half boiled eggs in the barge for the offshore workers because your brain also half boiled.

2023-05-27 14:46

Jerichomy

Post removed.Why?

2023-05-28 14:40

Jerichomy

Post removed.Why?

2023-05-28 14:42

Jerichomy

Post removed.Why?

2023-05-28 14:44

i3lurker

500% profits

of course all types of sharks will dump

2023-05-28 15:58

Jerichomy

Haha

i3lurker
500% profits

of course all types of sharks will dump
32 minutes ago

2023-05-28 16:32

investopology

The coastal company keep on share buy back, but the share price keep on dropping, any issue?

2023-06-11 07:02

speakup

Reminds me of Topglove

2023-06-11 08:37

investopology

Haha you better be silent than speak up😂

2023-06-12 20:43

Huat 888

slowly collecting...anytime goin to fly

2023-06-14 15:44

Jerichomy

Post removed.Why?

2023-06-26 23:41

Jerichomy

Haha peng lam and get stuck

investopology
The coastal company keep on share buy back, but the share price keep on dropping, any issue?
1 month ago

speakup
Reminds me of Topglove
1 month ago

investopology
Haha you better be silent than speak up😂
1 month ago

Huat 888
slowly collecting...anytime goin to fly
1 month ago

2023-07-24 15:33

Jerichomy

Post removed.Why?

2023-07-24 21:11

8u29song

why coastal no good now ahh

2023-09-06 15:31

8dragon

Buy @ 1.85...

2023-09-14 10:48

James_Bond

Hi Pang. Coastal story sounds interesting. I m afraid it might be another serbak 2.0 coz all investments outside Malaysia. Be careful.

2023-10-23 12:19

silentWolf

how abt now? hehe

2023-11-02 08:54

Tomrider

why drop 10%

2023-11-23 10:01

Tibbers

wah coastal want follow pertama is it waterfall.

2023-11-23 11:14

James_Bond

I m right again! Haha!

2023-11-23 12:10

James_Bond

Another Serbak 2.0! Short coastal at all cost to earn back your losses!

2023-11-23 12:10

TonsilBasher

its a buying oppurtunity. easily up. remember this was the best under billion company voted by the edge.

2023-11-23 13:28

soon9913

next stop is RM1.50?

2023-11-23 15:38

KingKoil

Time to sail

2 months ago

Dehcomic01

I bought Coastal a year before Covid-19 and sold it early last year. I have 2 Bursa energy services companies that I use as references when hunting for companies in this sector – Deleum and Dayang. https://ujianehc.blogspot.com/2023/12/dayang.html
I the past these 2 companies ROE outperformed that of Coastal but over the past 2 to 3 years, Coastal ROE have overtaken them.
When I look at the ROE vs share price trend, I found that currently they are diverging – the ROE is going up while prices are declining. https://i.postimg.cc/JhVF7spg/Coastal.png
Is this another opportunity to go in?

2 months ago

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