PBA HOLDINGS BHD

KLSE (MYR): PBA (5041)

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Last Price

1.80

Today's Change

0.00 (0.00%)

Day's Change

1.75 - 1.80

Trading Volume

1,443,300

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Discussions
6 people like this. Showing 50 of 1,438 comments

Justaboylearning

Mr fox like his name, just a sly fox hahah

Jokes aside, it seems that KingKKK revised his TP from 2.50 to 3.55 to 2.60

Still has 35% upside for now.

1 month ago

goldenhope

Don't worry, PBA will deliver good profit next qtr, see Velesto also always say good, announced few qtr dissapointed result but finally deliver good profit recently.

1 month ago

Ravetidus

The deferred tax asset is expensed to PL upon utilisation of reinvestment allowance to offset current year taxable profits. They should at least compute it each quarter instead of charging it all in one quarter.

1 month ago

Invest_888

In my opinion, PBA won't face any financial problem at all bcs it is belong ot Penang government. But the Penang government won't allow this company to earn too much money bcs PBA is equal to Penang People vote.

1 month ago

NatsukoMishima

Let ranhill take over this poor service company , always no water supply !

1 month ago

Justaboylearning

My remisier said this is worth 1.20-1.40 only . Cut loss cut loss

1 month ago

Bullstocks888

@dragon328, I agreed with your conclusion that PBA is worth RM5.80. It could be worth more if you use Ranhill PE of 25x.

There were many haters when you recommended YTL Power below RM1. Look where is YTL Power today! Your track record is proven! Not sure about anyone who will listen to his remisier. 2024 surely a record year for PBA and YTL Power. HODL!

Posted by dragon328 > 1 day ago | Report Abuse

@Bullstock888, yes I concur with your view above.

PBA's Q4 was dragged down by negative deferred tax, a 180 degree change from positive deferred tax in Q3. This is non cash, and I will just ignore them.

PBA recorded PBT of RM68.4m in 2023, this would have been higher if the ICPT surcharge rate was reduced for the whole year, but it came into effect only from July 2023.

Operating cashflows before working capital changes and capex amounted to RM112 million in 2023, which was very strong.

Post water tariff hike from 1st Feb 2024, PBA expects revenue to increase by RM86 million a year. Assuming operating costs remain unchanged, PBT will increase by RM86m.

I take a more conversative approach and assume operating costs to increase by 10% or RM27m in 2024, and so I expect PBT to jump by about RM60m to RM128 million.

Ignoring deferred tax effect, the normal income tax should be minimal as PBA has got enough capital allowance to offset against future taxable profit, so net profit will come to also about RM128 million or EPS of 39 sen.

PBA is a well run utility company and should enjoy PER of 15x (note Tenaga at 23x PER, PetGas at PER 20x), so PBA may be worth RM5.80 a share post water tariff hike.

1 month ago

Icon 888

Habis goreng dah

1 month ago

Bullstocks888

@dollardolarbill, thanks for your good insights! PBA cash flows are so much higher than earnings. Dividends also increase to 3.5 sen. Hopefully PBA can pay higher dividend next year with higher earnings.

Posted by dollardollarbill > 1 day ago | Report Abuse

@Bullstocks888

The income statement can mask/hide the real earnings of PBA, but not in the Cash Flow statement. Operating cash flow before working capital changes is RM128.5m in 2023 vs. RM87.4m in 2022. Net OCF RM179m in 2023 vs. RM103m in 2022.

The deferred tax expense of RM25.7m is a non-cash item and might potentially be reversed in the upcoming quarters.

The tariff hike for domestic users (and other categories) was just implemented on 1 Feb 2024, not in 4Q23. So, the RM86m increase in revenue that PBA mentioned will only be reflected from 1Q24 onwards.

While costs may have increased a bit in 4Q, these cost increases can be passed on in the next tariff adjustments in 2026 and 2027 for non-domestic and domestic users. Consequently, earnings are expected to continue rising after the adjustments.

I will continue to hold PBA as I believe in my long-term thesis, rather than focusing on the next quarter or two. In investing, one shouldn't feel pressured to chase returns for the next few months. Taking the longer-term view and focusing on the bigger picture is how great returns are generated.

1 month ago

Justaboylearning

We will see how it goes in one year

1 month ago

Erudite

no nd to wait 1 yr, next 2-3 quarter will see the revised tariff effects. Quite simple... Only thing to argue is the TP... Prospects intact....

1 month ago

Felix888999

Wow price dropped like water fall, why ahh?

1 month ago

Justaboylearning

But people lose money in pba already . Which broke warrant buffet rules . So cut loss cut loss

1 month ago

PureBULL ...

i like many seasoned big players here, r in stocks for the long haul to CAGR by the cycles.
cutting loss or win is easy.

but this case smells like premeditated to rob the retailers.
let's watch price action for the next few mkt days.

https://www.tradingview.com/x/gJXol4UI/

PBA has the look to do recovering...

1 month ago

Justaboylearning

I don't know why, based on all your points. We should sell PBA and come back 12 weeks later..... That's why I said cut loss. Buy when nearing the QR 1 for 2024....

1 month ago

mizieXX

Buy back a bit..keep until next quarter..hehe

1 month ago

Justaboylearning

Support level is at 1.8

Resistance level is 2.2

If broke either one, expect to go on.

Good luck all. Pure bulls deleted some of his comments i seee …

1 month ago

Justaboylearning

I can’t take you seriously Mr fox . But I hope pba holders work out for them

1 month ago

MrFox

only short term/contra playetrs understsand esistance levels!!!

1 month ago

Justaboylearning

For short term analysis, today or tomorrow will likely to go to below 1.90 .

Good luck . Done with the counter already
Will come back when q1 is near
2 seconds ago

1 month ago

Justaboylearning

you are really a sly fox... you said that at 2.2, 2.3 , 2.4.

Now 1.9.... going downtrend.

With 20% loss, you need 25% gain to breakeven.
With 30% loss, you need 43% gain to breakeven.
With 40% loss, you need 67% gain to breakeven.

1 month ago

MrFox

dun worri! soon ur IQ will increase!!!!!
haha

1 month ago

StartOfTheBull

Pure bull wrote that it is a so called "A1" stock. After price slide down, his posts deleted or missing.

1 month ago

StartOfTheBull

Not you my dear, you can't find the ID PurePull here for now because it was deleted by himself.🤣

MrFox

843 posts

Posted by MrFox > 34 seconds ago | Report Abuse

am i pure bull?

that;s y i sau ur IQ is low!!!!
haha

1 month ago

StartOfTheBull

I mean his posts were deleted by himself. Lol

1 month ago

StartOfTheBull

🤣
MrFox

843 posts

Posted by MrFox > 20 minutes ago | Report Abuse

if you listen to
whispering words of wisdom!!!!!1
haha

1 month ago

StartOfTheBull

Another weird thing in this forum is someone trapped high in this stock still claiming that he is able to offer his "words of wisdom." Hold for another month, six months, one year or three years? 🤣

1 month ago

Mikecyc

Post removed.Why?

1 month ago

Mikecyc

Post removed.Why?

1 month ago

StartOfTheBull

Indeed, MSK is a man with high IQ, who bought PBA at RM2.30.
=======
MrFox

862 posts

Posted by MrFox > 1 month ago | Report Abuse

be patient! as this is a long term investment!
just enjoy the ride and occasionally peep thro the window to see any side dishes ard!!
haha


MrFox

862 posts

Posted by MrFox > 28 minutes ago | Report Abuse

tartOfTheBull@@@
you dun believe words of wisdom???
remember those who believe are high IQ and winners!!!
haha

1 month ago

Felix888999

Seekor suay musang terperangkap atas tangki air PBA 21 tingkat tinggi. Kesian musang itu.

1 month ago

calvintaneng

Blog: THE IMMENSE VALUE OF TSH'S 80,000 ACRES PRIME LANDS IN BONGAN, (Only 43.9 KM from TiTik Nol IKN NUSANTARA, By Calvin Tan

https://klse.i3investor.com/web/blog/detail/www.eaglevisioninvest.com/2024-03-12-story-h-186519186-THE_IMMENSE_VALUE_OF_TSH_S_80_000_ACRES_PRIME_LANDS_IN_BONGAN_Only_43_9

1 month ago

dollardollarbill

Glad to learn that Voyager Assets Limited is one of PBA's top shareholders.

Voyager Assets Ltd is an investment vehicle of savvy value investor Mark Chang, the founder of JobStreet.

Based on PBA's latest annual reports, Voyager Assets have been increasing its stake in PBA year by year.

AR 2020: 1,359,100
AR 2021: 2,099,100
AR 2022: 3,219,600

Voyager Assets is also a top 10 shareholder of VITROX with 10.16 mil shares.

Mark Chang is one of the most iconic entrepreneurs in Asia. He is the founder of JobStreet.com, which he led to become the largest online employment firm in Southeast Asia, and which was eventually acquired by SEEK in 2014 for US$582 million.

1 month ago

Income

the strategies are quite rigorous for the regular-Joe. As a matter of fact, they are mostly successfully carried out by pros who have had a great deal of skill set/knowledge to pull such trades off.

1 month ago

KingKKK

UTILITIES Sector (KingKKK): Investing in Malaysia's Engine Top Performer - YTLPOWR, YTL, RANHILL, PBA, TENAGA, PETGAS, MALAKOF, ENGTEX

https://klse.i3investor.com/web/blog/detail/bestStocks/2024-03-17-story-h-186391184-UTILITIES_Sector_KingKKK_Investing_in_Malaysia_s_Engine_Top_Performer_Y

1 month ago

Justaboylearning

Mr fox deleted all his comments.

No more whispering words of wisdoms?

1 month ago

Noni

Without PBA can survive? Sure win 3.00

1 month ago

Justaboylearning

Not sustainable to go 3.00.


Tp 1.50

1 month ago

dollardollarbill

927 MLD water consumption

On Sunday (17.3.2024), water consumption in Penang was estimated to have reached a high of 927 million litres per day (MLD) as compared to the daily average of 877 MLD recorded in 2023.

This represents a sudden 50 MLD surge in water consumption year-on-year.

4 weeks ago

Chong3710

Batter ask all the MNC in Penang to cut down their production. The Penang ppl don’t have enough water to use already.

4 weeks ago

PureBULL ...

PBA
was an A1 stock n in the making of ytlp.
it was simberleh niceeely by its bad poor mgmt with -ve QR PAT.
https://klse.i3investor.com/web/stock/financial-quarter/5041

that cost all valued fund mgrs the sleepless nite dearly.
as warren B said, they will dump out on big gap down asap, for many other stocks.

https://www.tradingview.com/x/9NrfDcmo/

3 weeks ago

Justaboylearning

My IQ decreases trying to interpret purebull’s comments.

Can someone help me interpret it like how Mr fox whispers his “words of wisdoms”?

3 weeks ago

hng33

bought PBA at 1.81

3 weeks ago

dollardollarbill

PENANG: THE SILICON VALLEY OF THE EAST

The state of Penang, nestled along the northwest coast of Peninsular Malaysia, needs no introduction in the global electronics manufacturing sector. Despite its diminutive stature with just over 1,000 square kilometers of land area and a 1.8 million-strong population, Penang commanded an estimated 5% of global semiconductor exports in 2019, according to data compiled from the Department of Statistics Malaysia (DOSM) and UN Comtrade.

Today, Penang houses more than 350 MNCs that are supported by over 3,000 manufacturing-related SMEs. As Penang flourished as a vibrant, regional E&E manufacturing hub, the local talent pool steadily accumulated a wealth of business intelligence and technical experience, enabling the robust supply chain to evolve in tandem with technology megatrends. This, in turn, enabled the State to focus on pursuing investments that have propelled the industry up the value chain, away from its beginnings as a low-cost manufacturing hub. Consequently, Penang has seen a proliferation of upstream technology-related investments in high value-added functions in recent years, ranging from research and development (R&D), design and knowledge-based solutions, and downstream advanced manufacturing and testing to global business service (GBS) and Centre of Excellence (CoE) activities.

Penang’s growing significance in the global E&E value chain is demonstrated by its steady and resilient export performance in recent years. From 2014 to 2019, the State’s E&E exports grew at a compounded annual rate (CAGR) of 12% to reach RM210 billion (US$51 billion). It has emerged as a hub for professional, scientific and controlling instruments (including medical technology), with exports of these products growing at a 5-year CAGR of 15% to reach RM23 billion (US$6 billion) in 2019.

E&E products, alongside professional, scientific and controlling instruments, collectively contributed between 77% and 82% of Penang’s total annual exports since 2014, and accounted for 50% of Malaysia’s exports in these two segments during the period.

More impressively, despite the disruptions from the COVID-19 pandemic, Penang’s total exports continued to rise in 2020, growing 7% year-on-year to RM310 billion (US$75 billion), and a further 14% year-on-year in January and February 2021, driven by strong global demand for semiconductors.

https://www.semi.org/en/sea-newsletter-penang-the-silicon-valley-of-the-east

2 weeks ago

MrFox

which means more demand for water!!!
whispering words of wisdom!!!!!
haha

2 weeks ago

hng33

With water traffic hike, concession water have become lucrative business model.

2 weeks ago

dollardollarbill

Penang Development Corp to set aside RM5 bil for 15 high-impact projects
https://theedgemalaysia.com/node/705866

2 days ago

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