Fundamental (From my friend)
Fitters's current business segment:
1. Fire services 
2. Property development & construction
3. Renewable & waste -to-energy

Other than sustainable income from current properties development in the next few years, Main catalyst for Fitters' shares price will be its future major revenue generator: PVC-O pipes manufacturing. This segment will contribute positive earnings to Fitters starting 2015. Its 3 production lines, which will be ready by end 204, will be able to produce 11,000 tonnes or 3700 km of pipes worth RM150million with another 3 production lines planned for 2015.

Existing market for pipes replacement is huge, with more than RM11billion worth of pipes due for replacement locally.

Fitters' outlook for its pipes manufacturing is bright, as PVC-O pipes are higher impact resistence and has a longer lifespan of 50 years compare to conventional steel based pipes.

Besides, Fitters has announced its plan to list its renewable energy unit, Future NGR Sdn bhd, in Singapore and is seeking to raise between $20-25mil from the IPO. 
Future NGR has formed JV partnership with AHT Services GMBH, a German biomass and coal gasification expert, to bring over biomass gasification technology to SEA region.

With all the earnings catalyst for the near future, further shareholder's value will be unlocked. Fitters' potential is not justified by its low PE of 8.5 times.

Let's Watch Closely!

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