Posted by benghooi > 3 days ago | Report Abuse

It has been the company's practice, at least for the past 20 years, to declare an interim dividend in November.

With swelling cash and impending implementation of dividend tax, will the company pay more this time?

Posted by hng33 > 3 days ago | Report Abuse

Current lower quarter result mainly due to
1. Deferred tax - RM 18.5m
2. Free 10m3 water for 6 month as special subsidy to domestic customer, erode PBA profit by -RM 11m
3. Domestic consumer reduce water usage due to water traffic hike. These temporary setback in domestic will be setoff with nondometic consumption through increasingly semiconductor manufacturing activities

Posted by hng33 > 3 days ago | Report Abuse

Agreed. PBA cash flow is too attractive, accumulate nearly 86sen/share.

In additional, next year onward, PBA will start recover penang government repayments RM 88.6m on staggering basis begin 2025 will further boost up PBA cash hoard.

Hence maiden special dividend is imminent, following trend like kossan and MSC to declare special dividend ahead of next year dividend tax, which will benefit Penang gov the most as majority stake holder

Posted by hng33 > 3 days ago | Report Abuse

Generally, utility stock like water or power are debt laden, but have positive cash flow generated from utilities business ike YTLP, tenaga, malakroff, RANHILL. Therefore, it is rather unusual for PBA to sit on massive cash hoard and trade below NTA.

Next year dividend tax is good opportunity for PBA to rectify their financial position to better reflect utilities business model and allow Penang government to enjoy better dividend payout ahead of next year dividend tax and commencment of repayment loan RM 88.6m to PBA

Posted by jojo85 > 3 days ago | Report Abuse

Dont worry la purebull, monday confirm skyrocket...rm 3 otw..

Posted by Analyser > 3 days ago | Report Abuse

PBA's PE at 9 and below NTA. Vs Ranhill PE at 30 and trading two times of NTA.

Assuming same logic, PBA should be trading at RM6 right now. Severely undervalued. Looking at the massive cash pile and being a cash cow, expect better dividends and revaluation.

Posted by troy88 > 19 hours ago | Report Abuse

Topsy turvy earnings and damn volatile stock

Posted by jojo85 > 19 hours ago | Report Abuse

No worries la...that massive tax heavily affected pba's profit..its temporary only..

Posted by dollardollarbill > 18 hours ago | Report Abuse

3Q24 PBT RM42.2m +45% yoy, revenue RM139.9m +22% yoy.

Deferred tax expense is a non-cash item.

9M24 Cash flow from operations before working capital changes RM159.4m +58% yoy

Overall performance is ok.

Budget announced next year 2% dividend tax. Pay much higher dividend upfront now will be good for everyone.

Next month is already December. Savvy long-term investors focus on future annual earnings, 2025 and beyond.

Posted by dollardollarbill > 18 hours ago | Report Abuse

#Penang2030

Posted by jojo85 > 13 hours ago | Report Abuse

Panic trader sells, smart investor buys...kikiki

Posted by hng33 > 12 hours ago | Report Abuse

Wait for 'special dividend'