KUALA LUMPUR: Protasco Bhd has been awarded a RM442.6 million project under Pembangunan Projek Perumahan Penjawat Awam 1Malaysia (PPA1M), in a joint venture with Kop Mantap Bhd.
Protasco’s wholly owned subsidiary, Protasco Development Sdn Bhd, will hold 51 percent in the joint venture while Kop Mantap, wholly owned subsidiary of Koperasi Polis Diraja Malaysia Bhd, will hold the remaining 49 percent.
Protasco said the project, awarded by Unit Perumahan Penjawat Awam 1Malaysia, is to build 1,681 apartment units in Putrajaya.
This new project is expected to contribute positively to the future earnings of Protasco, it said.
With this project, Protasco’s construction order book now stands at roughly RM900 million.
Protasco has completed Phase 1 of PPA1M Putrajaya in April 2017, and is currently building Phase 2.
Protasco said it also has a healthy road maintenance order book of about RM4.2 billion, which is expected to last until 2026.
Dato sri chong ket pen jual punggung kepada polis pensen lagi. Kasi projek tak jadi kasi ppa1m rumah setingan nampak lebih bersih ke dari rasuah? Ingat pistol bekas polis masih boleh tolong dia mencuri wang protasco ke? cuci sepuluh kali pun darah melekat. Polis ambil boleh ambil jenayah masih jelas. Lolol.
Dato sri Chong Ket Pen is who? Some news about his pretender might interest you to buy more Protasco shares:
Chong Lied and Cheated Protasco controlling shareholders to own Protasco control is now proven its all about money. Directly & publicly announced money paid to Chong own pocket already exceed RM50mil, not to mention another RM50mil where about, besides paying his board of directors to shut up, cash went vanished during Chong “own control” of Protasco. Read Protasco Annual Report to find the money trails if you really wants to know what you have invested in.
He tried to cover up his potential dirty criminal history by associating his name with some hoPO story and polis retiree corporation, and such shows may not clean up his potential illegal money trails and crime. Before he gets haul in to jail, Chong sure will buy more protasco shares using his ill-gotten money. There is only upside, so buy before chong last act, could happen days before his secrets got exposed and captured. The last glory fireworks before self destruction. RM1.20 sure win.
Awarded PPA1M job. Protasco announced that it has been awarded a contract to construct 1,681 units of apartments in Putrajaya under the PPA1M housing scheme. The job has a GDV of RM442.7m and will be undertaken jointly by Protasco (51%) and the Royal Malaysian Police Cooperation (49%). Comments 3 rd PPA1M contract award. This is Protasco’s 3 rd housing job under the PPA1M scheme. It previously undertook Phase 1 (completed) and 2 (ongoing) worth RM600m and RM301m, respectively. Apart from that, it also holds a Letter of Intent (LOI) for Phase 3 (RM120m).......
Basically Hong Leong is saying “Yea, congratulation for another PPA1M news. 51% Protasco, 49% Polis Cooperation. Funny why Polis Cooperation? Any expertise in construction or for other purpose? By the way Chong Ket Pen under PDRM, MACC and IRB investigation, wasn’t that “indirectly” conflict and a form of.....
Anyway. Cut it short - cost over run will cause a loss eventually. Proven. “Cost” of directors ate up all the profit and cash flow during Chong Ket Pen management, and despite the Hoo Haa, Hong Leong is opinion that the only value is the passive income from Road Maintenance. The Hoo Haa.... ahem, “No value added”, still RM1.14 TP. In other words Hong Leong “don’t trust current management anyway”. Straight forward “Thieves ane crooks”.
Hancur lah di tangan dato sri chong ket pen dan tan sri hadenan abdul jalil. RM442.7m contract satu sen pun Hong Leong tak beri muka. Malu.
Fuyo! Jsut found out Hong Leong news. Its a “HOLD” lah, not “BUY”. Smell dead rat. Who remark “BUY” call here?
If dato sri chong ket pen is suspected criminal, by keep trying to tie his name with polis koperasi (although not polis directly but indirectly it is a reflection) still this is a form of bribery. Criminal joint venture with polis using plc? Big joke and shame. Using protasco some more is disgusting and in breach of director duty by wasting public company money. PPA1M? Construction report losses last quarter, got so much money to “share” with polis meh? Making profit means “cheat polis officers making money out of them”. Make a loss means cheating protasco shareholders and koperasi polis. Biggest joke is the cheater is once again, dato sri chong ket pen. Go in lokap lah criminal. Lol
Illegal gains. How to trace Ringgit 1 hundred million tax invasion by dato sri chong ket pen and cronies? Here is the judgement.
If IRB probe on dato sri chong ket pen trail cheated protasco real controlling shareholders ooi kock aun and tey por yee and took control of protasco; every cent chong let pen took from protasco are illegal gain. His salary, claims and dividend. Anything his illgotten money buys is illegal, including protasco shares. Anyone covers up and took benefit from chong ket pen illgotten money taken from protasco is also illegal, including the board of directors fees, management and dato sri chong ket pen sons’ salaries, claims and dividend. That is in the Ringgit multi hundred millions.
Since dato sri chong ket pen illegal made up blame and caused protasco suffer loss on indonesia project, the damages and losses arrise from chong cheating blame is equivalent shall be imposed on chong ket pen. Any losses indirectly suffered shall also imposed on chong ket pen. Clear motive of self-gratification, dato sri chong ket pen “Made to look seem illegal” itself is crime, crime it is shall be imposed on dato sri chong ket pen. Protasco board coluded to assist dato sri chong ket pen in commiting his crime, each board member shall also impose same loss penalty and punishment. Since protasco is facilitating chong ket pen and board of directors to conduct their crime, protasco shall also be imposed same penalty.
So there are at least 3 levels of penalties shall be imposed on dato sri chong ket pen, protasco board of directors and protasco, each for Ringgit few hundred millions. Clearly there are Ringgit 1 hundred million tax and few hundred millions illgotten money shall be claimed back from these criminals. These have not included breach of director duties and dozens of CBT and related penalties. Confirmed amount could be Ringgit 400-500 million exclude penalties. If penalty 100%, that would be Ringgit 1 billion (negative) club!
If I am Hong Leong Research, I would discount the Ringgit few hundred million risk. Maybe -RM1.14 per shares after reflected the risk factors to be more reasonable Target Price. A “HOLD” may look too generous for protasco. So don’t complian why hong leong did not change HOLD to BUY. It should have beem RUN for live!
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
jack2
1,359 posts
Posted by jack2 > 2017-12-22 08:31 | Report Abuse
huat huat huat
secured another project
December 21, 2017 @ 8:16pm
NST Business
KUALA LUMPUR: Protasco Bhd has been awarded a RM442.6 million project under Pembangunan Projek Perumahan Penjawat Awam 1Malaysia (PPA1M), in a joint venture with Kop Mantap Bhd.
Protasco’s wholly owned subsidiary, Protasco Development Sdn Bhd, will hold 51 percent in the joint venture while Kop Mantap, wholly owned subsidiary of Koperasi Polis Diraja Malaysia Bhd, will hold the remaining 49 percent.
Protasco said the project, awarded by Unit Perumahan Penjawat Awam 1Malaysia, is to build 1,681 apartment units in Putrajaya.
This new project is expected to contribute positively to the future earnings of Protasco, it said.
With this project, Protasco’s construction order book now stands at roughly RM900 million.
Protasco has completed Phase 1 of PPA1M Putrajaya in April 2017, and is currently building Phase 2.
Protasco said it also has a healthy road maintenance order book of about RM4.2 billion, which is expected to last until 2026.