Those who bought years ago could be very frustrated as the price has been stagnating at this level. If you can't wait, just sell and move on with other counters.

Royong82, Waseong should at least come out and clarify the extend of damages they suffered, what were the financial impacts resulted from the incident, are their works/assets that were damaged covered by insurance, etc. Investors now in the dark. Time to run?

Thanks royong82. Why Waseong has still not made any announcement with respect to this incident? They should have come clean, and informed the shareholders as soon as the above took place.

We are here for the long haul. Recent sell down presented buying opportunities.

Kalioki, you expect the site personnel to behave the way their colleagues behave in the office? You wanted the site personnel to do away with shouting, and you preferred them to greet their banglas with more polite tones, e.g. How are you sirs, may I help you? Be real, this would never work in this field.

You mentioned that ptaras took years to rectify defects? Rectify defects for foundation works? You must be kidding.

And you mentioned that the management has got no system? What system? Entertainment system for the main contractors? Who cares when they are able to consistently generate astounding revenue growth and profit margins over the past 5 years?

sl3ge, I'm working for a construction company, and have some knowledge in foundation works.

Here is some of the info on Pintaras Jaya & Econpile. Source: thestar dated 31-05-2014

Competitors to Ptaras pre-1997 financial crisis are Pilecon Engineering Bhd, UCP Resources Bhd, L&M Corp Bhd, General Soil Engineering Holdings Bhd. Note: Only Ptaras has survived this crisis.

Present main competitors to Ptaras are Geopancar Sdn Bhd, Sunway Group’s Sunway Geotechnics (M) Sdn Bhd and Econpile Holdings Bhd. Note: Other piling companies unable to undertake complicated foundation works, i.e. piling works for areas situated at established areas, e.g. Warisan Merdeka.

Major tender exercises Ptaras is now participating in are Klang Valley Mass Rapid Transit Line 2, Kinrara Damansara Expressway, West Coast Expressway, Petroliam Nasional Bhd’s refinery and petrochemical integrated development (Rapid). These works worth 2~3bil. Worth noting that all the jobs they are bidding are complicated in nature. Note: I’m disturbed when I saw the protest against Kidex. I hope I would see this project materialised because Ptaras stands a good chance of securing the foundation works.

Ptaras' present book order stand at RM330mil, more than double from a year ago. Dr. Chiu is confident that Ptaras is able to replenish its orderbook as the government is very serious in realising the above mega projects. Note: Piling works for housing estates are not their cup of tea. Virtually all are for high rise buildings at established neighbourhood. In a nutshell, Ptaras is now in a different league, and in turn the high margin is sustainable.

A good analysis by kcchongnz http://klse.i3investor.com/blogs/kcchongnz/54243.jsp

Let me share with you what I know about this company Ptaras. The bosses really know their stuffs very well, they have prior experience in the same industry before they set up this company. To begin with, they undertook small scale projects which was relatively less complicated, allowing their young engineers to pick up the skills. They subsequently ventured into medium-scale projects. Acquiring both the design and field knowledge in the piling industry is essential as this can improve the work sequence. Half-baked specialist contractors are commonly known to make mistakes in the field which would always result in corrective works /double-handling and slapped with delay penalty, their margins are eaten as a result. To qualify as a good specialist contractor, ones must be able (i) to constantly win projects (a good reputation would certainly help); (ii) to successfully handover project to owners/employers in time (liability off the shoulders); and (iii) to be able to collect the retention sums (receivables). Clearly, Ptaras have the above qualities. In addition, they now own full-range piling machineries which can save them a lot of construction costs.
Another plus point: They are growing organically (they only do what they are good at).

Recently, PTARAS was awarded a contract to undertake earthworks and piling works for a building project along Jalan Tun Razak, worth RM32m. Amid this positive newsflow, the share price rose 9 sen (+2.2%) and settled at an all-time high of RM4.17. Chart-wise, a bullish “Marubozu” candlestick has taken shape and the share price has also broken out of the “Bullish Pennant” chart pattern resistance of RM4.12. Coupled with positive readings from key momentum indicators, this portend that an uptrend resumption is already underway. Traders who look to buy into the stock should target to take profit at RM5.16 (3 bids below the RM5.19 Bullish Pennant measurement objective), while setting a strict stoploss at RM4.09.

Source: Kenanga

What a pleasant day, and would like express my gratitude to Mr. kcchongnz.

No choice, I heard the director is in the verge of receiving margin call. Of course, the management is pressured to step up the buying in order to save this director.

Be patient, buy and keep the paper under pillow for 2 years. The India power plant will surely be commissioned soon, in the last quarter of this year at the very latest. Anymore delays will hit the Indian Finance Consortium very hard as they would not be able to recoup the loans they dispersed as scheduled. The consortium financed 90% of the total cost of the project , would be more concerned than anyone else to get the plant commissioned. May your patience will eventually be paid off.

Run.....head and shoulder formation. hehe

Technically, ptaras has today convincingly broken up. Because of this, we may expect to see some full green candlesticks in the next few days. Hats off, kcchongnz!

Wah lao eh. Sky is the limit. Possibly RHB is about to release the Research Report soon, re-rating this stock.

Thanks kcchongnz for the explanation.

Sop, ptaras has got RM330mil book order which must be realised in the next 12~18 months. As per the recent report in the star paper, the machineries they invested years ago are now fully amortised/depreciated, and their bottom line is set to surge as a result. I'm as upbeat as kcchongnz for ptaras.

sapu sampah

Kcchongnz, thanks for your above efforts. Wow, intrinsic value of RM6.50 though it was worked out with the conservative parameters. Can we use the "intrinsic value calculator" in this website? http://www.moneychimp.com/articles/valuation/buffett_calc.htm I adopt the variables you suggested, i.e. EPS = RM0.31, Growth for the next 3 years at 15%, Subsequently 5%, Confidence Margin = 77.5%?, Discount Rate = 10%, press the "calculate button", I get RM6.50. Is this calculator applicable? Please advise. Thanks

What happened to this counter? Any updates?

Run while you still have legs.

Be patient lab uncle Lim. We go long for this counter as rightfully suggested by our Taiko kcchongnz.

Not bad for this counter. As expected, the management have today confirmed the issuance of free warrants for shareholders on the 24-06-2014. What more exciting was that the striking price for its warrant is RM1.00. RHB portrayed the value of its warrant at RM0.290! What a good news for those that have been holding this counter for years!

Many thanks kcchongnz for the above highlights. Ptaras have today won another sizeable piling works in KL, bringing the book order to RM332mil, i.e. this figure is double of its book order of last year. The management is of good quality (both competent + honest) are bringing cheers to everyone!

Wow. Ptaras has today won another big size piling project worth RM32mil! http://www.bursamalaysia.com/market/listed-companies/company-announcements/1652597 . The book order now ballooned to RM332mil!

Tomorrow is the ex-date for an interim dividend of RM0.06. Expect to receive full year dividend of RM0.150. Totally agree with kcchongnz that this counter should be kept as long as the quality of the stock is intact.

Calvintangeng, mpcorp a 20-bagger?

Jtiasa 3rd quarter earnings are way below analysts' projection, less than 50% of what was projected on paper. During a joint interview together with Professor Glen Arnold at BFM89.9 on the 14-04-2012, Mr Koon has said it very clearly that he would dispose of all the shares of a counter if its results are bad for two consecutive quarters, and move on with other counters. If the next quarterly earning for Jtiasa is again missing the projection, I bet Mr Koon may take a drastic action, he may further reduce his stakes in Jtiasa. For those who missed the interview, here is the podcast http://www.bfm.my/koon-yew-yin-glen-arnold.html

Chang0509, Mr. Koon owns both SOP & Swkplnt.

Davidkkw79, your attitude is very uncalled for. How can you blame others for the losses you suffer? Which of Mr. Koon's articles or postings that forced you to buy Mudajaya. He always mentioned very clearly that he should not be held responsible for any gains or losses should you buy this counter. Give him 2 years and then judge his takes on Mudajaya.

Thundercat, why contradicted yourself. On one hand you said you do not trust tony because of the results you obtained from your friend who perform "face analysis", but on the other hand you vowed to keep 1/10 because you are still harbouring hopes for a possible price appreciation in the near future. If I understand correctly, your success formula is that you operate 9/10 and 1/10 of your portfolio, respectively with "Face Analysis" and "Hope Analysis". What is the successful rate of your method?

Mr. Koon, what is your thoughts on company run by a bunch of crooks? Would these crooks one day become holy, I mean could these people one day reliase their wrong doings, subsequently repent, and get themselves prompted to becoming honest and striving to maximise the returns to shareholders? Based on my past experience in corporate world, once these crooks uncover loopholes, they would never turn back and would seamlessly exploit them to the maximum. The crooks usually own a big chunk of shares in the company so that they have the authority to continuously run the company. Would this happen to Jtiasa?

Many are chasing after kulim-wc. Wake up, the CPO is sliding and the upside of the wc near term is very limited. Sell the wc before it is too late!

Sick99, go and buy a copy of Focus Malaysia this week edition. The bleak outlook of this counter was explicitly explained. The managements have not been doing good job, and if the same group of people are to continue to operate this company, don't ever dream that hwgb would one day turn around. It will never happen!

First time I met Mr. Koon, and that was during the Seminar he conducted yesterday. A very simple and humble man in his 80s, I have greatly benefitted from his wisdom. He is a very well respected old man. I wish Mr. Koon happiness and strong health for many years to come.

Ikoky & Poh, the book titled "Valuegrowth Investing: How to Become a Disciplined Investor" is 1st Edition and the publication is no longer continued. I just bought the 2nd Edition, the title is "The Financial Times Guide to Value Investing : How to Become a Disciplined Investor (Financial Times Series) (2ND)". I purchase online via "BOOKS KINOKUNIYA", Price: RM188.95, lead time 4 weeks. As what Mr. Koon has said, this is a really good book. If you are interested in politics, the book the philanthropist tycoon and super investor Koon Yew Yin has written is "Malaysia: Road Map for Achieving Vision 2020".

Don't worry. Our Datuk Mah Siew Keong just won the by-election. Datuk Mah is top 20 shareholder of this counter!

Congrats Datuk Mah Siew Keong, top 20 shareholders of TA.

I predict next Tuesday be made a public holiday should we win the match.

Uncle Koon. Congratulations for your Swkplnt! Your call for a buy at 2.40~2.45 days ago have made many richer.

The last China Company entered into Bursa via RTO was Huaan. Okay ke kaunter China? Huaan drops from RM0.55 to today's RM0.15. Another China Company Hbglobe yesterday announced that they are unable to submit Account on time despite 2 months extension given. Take your money and run.

Good video clips on Value Growth Investing. Also talked and briefly discussed were the Technical Analysis. 1. http://www.youtube.com/watch?v=8Ul0ciJOUvY 2. http://www.youtube.com/watch?v=lFcFE_jXy3c

Sign of technical reversal has emerged. Shooting star on Monday followed by a black candle the next day, MACD: 4G1R, Stochastic overbought. Sold half of holdings, add when selling has subsided.

There are 2 causes that can possibly prompt the share buy back but not highlighted in this article. These two are commonly practised in this country. First, share buy back is intensified when the share prices drop drastically and result in margin calls for the major share holders, e.g. Parksonn? Second, share buy back takes place when major shareholders would like to make an exit. This exit is not necessarily announced in the Bursa as the major shareholders may have other proxy accounts, e.g. Bjtoton? To buy back the shares, the directors will cook up reasons to convince the shareholders to get the required approval. We must therefore exercise extra cautions as share buy back can arguably be done to benefit the major shareholders but at the expense of the retailed investors.

I would like to express my gratitude to kcchongnz. What a brilliant man!

Kinsoon Kok, don't regret your own action. Take this positively, learn something from here. Companies with good fundamentals would always react positively upon announcement of newly secured projects or release of analysis by research houses. Their share prices would always continuously move upwards even after days the announcement made. The concept of "sell on news" is only applicable for company with poor management, e.g. Salcon, Azrb to name a few. Pintaras Jaya moved from 2.65 on the 2nd Feb 2014 and closed at 3.95 today, resulting in a gain of whopping 50% within a period of less than 3 months. No counters that include the good ones would continue to go upwards. Time for profit taking? Wait for a retrace to add Pintaras. Good luck folks.

Bracoli, aku tak terdaya melakukan apa-apa. Mulut aku sentiasa senyum semenjak minggu lepas. Harap ko pun senyum macam aku.

I heard another project announcement is imminent! Price increase has been gradual and volume is healthy.

I'm in the construction industry, and I know ptaras very well. They have been making hefty margins because they now own a lot machineries (no need to rent), they have been able to deliver works ahead of schedules (save money on overheads), and they have successfully handed over every single job they have undertaken (no liability). Last but not least, they do not have issues in collecting receivables (retention sum collected). Like what kcchongnz pointed out, this group of people are genuine in doing business, and have been very competent during execution phase (less defects means more cream). Good luck folks!

Bracoli, naseb baek kita terserempak posting oleh kcchongnz. Ada beli sikit sikit, sini (ptaras) untung, sana (ghlsys) rugi. Boleh simpan ptaras untuk 2 tahun.