Posted by terence775 > 2022-05-23 16:06 | Report Abuse

For some it may be a surprise, but for those who have been following the company, it's expected. below 60sen was really such a steal. I've been covering PTRANS in depth for 2-3 years already, so if anyone wants to read my notes when I last met up with Jennifer and Dato Cheong, and spoke to the management team, feel free to PM me.

Posted by cheeseburger > 2022-05-23 16:07 | Report Abuse

good show today.

Posted by danchong > 2022-05-23 16:23 | Report Abuse

I did a back of the envelop calculation. the last profit without PFF is 13m & the increase of rental for last Q is 3M. I'm pretty sure they have collected the PFF hence I'll be disappointed if it fall short of that.

Posted by bojed > 2022-05-23 17:06 | Report Abuse

YEEEHAAAAA!!!

Last year I made money from its warrant but this year I opted for the mother share @0.685.

Posted by TreeTopView > 2022-05-23 17:46 | Report Abuse

Quarterly out"
Revenue Rm40.66 mill
Net Profit Rm14.25 mill

More than happy with that!

Posted by vincent cym > 2022-05-23 18:07 | Report Abuse

revenue increases is it just due to petrol price increases?

Posted by TreeTopView > 2022-05-23 18:11 | Report Abuse

Vincent, no.
I suggest you read the full report.

Posted by cheeseburger > 2022-05-23 19:11 | Report Abuse

gain from petrol station is very small for PTRANS. you shall understand where their main earning was from.

Posted by moneySIFU > 2022-05-23 20:02 | Report Abuse

Beside happy with the result and justified with the current price level, I am convinced to continue hold

For those who are holding for longer term, below is very encouraging disclosure:

Upon maturity of the terminal, Kampar Putra Sentral could see its total footfall to be more than that of Terminal Meru Raya and underpins the Group’s earnings growth ahead. Kampar Putra Sentral offers a one-stop convenient public bus terminal together with retail outlets, eateries, cinema, bowling, badminton courts, hotel and ballroom to both local residents and students from the Universiti Tunku Abdul Rahman, Tunku Abdul Rahman University College and other education centres in and around Kampar.

Posted by moneySIFU > 2022-05-23 20:07 | Report Abuse

important to note that current quarter has recorded highest profit

Positive cash from operation of RM22.4mil is also nice to read

To conclude, it will only get better ahead.

Posted by smartly > 2022-05-23 21:25 | Report Abuse

time to take profit...

Posted by 4ever5 > 2022-05-23 22:23 | Report Abuse

good evening. here is my humble opinion. It is a new high revenue and profit ! however, the quarter report is not exciting nor disappointing, at least to me since this is quite expected. I would say it is within our investor expectation. Slight disaapointment on the dividend of 0.0075 compare to 0.008 last quarter. it is 0.0005 lesser but not significant though. Thumbs up to the management to keeping the dividend payout at least 30% of the profit. As investor, we should understand that Ptrans is in need of cash to support the bidor station construction. All in all, I am still planning to hold long on this stock as long as the fundamental does not mess up. do you think this thought is fair enough?

Posted by TreeTopView > 2022-05-24 08:03 | Report Abuse

I didn't expect any major shocks in the quarterly and the company have delivered on that.
I was also hoping to see some growth in revenue and profit, again the company delivered on that.

For a first quarter FY2022 result, I'm very pleased with the outcome and would expect to see some growth in the second quarter FY2022, with their business model and growth strategy very much intact.

Posted by kimpau > 2022-05-24 08:56 | Report Abuse

rocket rocket!!!

Posted by TreeTopView > 2022-05-24 10:11 | Report Abuse

AmInvest report on the quarterly. Increase their valuation to Rm1.14.

https://klse.i3investor.com/web/pricetarget/research/63314

Posted by danchong > 2022-05-24 11:05 | Report Abuse

As at the end of March 2022, its PFF segment’s order book amounted to RM30mil which will be recognised over the next 12 months. We understand from management that there will not be any recognition of PFF in 2QFY22 as the project is expected to be completed in the subsequent quarters.

Posted by danchong > 2022-05-24 11:07 | Report Abuse

Does it make sense??????

Posted by TreeTopView > 2022-05-24 11:30 | Report Abuse

hi Dan, I read part too with a bit of confusion :)
I may contact the company later to get some clarification on that statement from AmInvest.

A higher tax cost due to a deferred tax payment also cut into what was already a very good quarter. All in all, a very solid quarter.

Posted by danchong > 2022-05-24 11:39 | Report Abuse

thanks TreeTopView.

At first I was also a bit concerned over the lower profit margin.

Posted by TreeTopView > 2022-05-24 11:48 | Report Abuse

I understand, Dan. The margin percentage dropped a few points due to the deferred tax payment made this quarter. All segments increased in revenue, which is what all longer term holders want to see, imo.

Posted by tksw > 2022-05-24 15:20 | Report Abuse

Those who chased high veli jia lat today

Posted by sianglong91 > 2022-05-24 15:39 | Report Abuse

Aiyoooo, whose scallions get scythed today? Horrible terrible like a vegetable. Fundamentally, Ptrans is still very good imho

Posted by 240gpark > 2022-05-24 16:22 | Report Abuse

Investment Highlights
We maintain BUY on Perak Transit with a higher fair value (FV) of RM1.14/share (vs. RM1.09/share previously) based on 15x PE on a rolled-forward fully-diluted FY23F EPS. Our FV reflects a neutral 3-star rating and is at a 30% discount to our FY22F target PE of 22x for Malaysia Airports.
We continue to benchmark Perak Transit’s valuation against Malaysia Airports given the many similarities between the operations of an airport and a modern public transport terminal.
Perak Transit’s 1QFY22 core net profit (CNP) of RM14.3mil came in within our expectation at 24% of our forecast and 25% of consensus’ FY22F earnings. Thus, we make no changes to our forecasts.
Perak Transit’s 1QFY22 turnover rose 15% YoY to RM41mil mainly driven by higher contribution from its integrated public transportation terminal (IPTT) operations and petrol station operations. However, its CNP expanded by only 6% attributed to increased deferred tax liabilities which led to higher tax charge for the quarter.
The group’s IPTT operation recorded a 12% YoY rise in 1QFY22 revenue to RM26mil, backed by new rental income from the logistics/warehousing and distribution tenants for both Terminal Meru Raya and Kampar Putra Sentral beginning September 2021.
Meanwhile, 1QFY22 revenue from petrol station operations expanded by 34% YoY to RM8mil on higher fuel sales volume and fuel price. The bus operation’s revenue rose 7% YoY to RM6mil, mainly contributed by the award of a new stage bus contract (for the routes in Larut, Matang and Selama districts) in 4QFY21, coupled with stronger contribution from the Interim Stage Bus Support Fund and Stage Bus Service Transformation programmes.
QoQ, its revenue climbed by 23% and CNP grew 12%, mainly due to the recognition of project facilitation fees (PFF) amounting to RM7.3mil in this quarter. There was no contribution from PFF in 4QFY21.
As at the end of March 2022, its PFF segment’s order book amounted to RM30mil which will be recognised over the next 12 months. We understand from management that there will not be any recognition of PFF in 2QFY22 as the project is expected to be completed in the subsequent quarters.
Over the mid-to-long term, the group’s growth drivers will be from the following:
(i) higher rental rates from its terminals upon the resumption of post-pandemic footfalls;
(ii) stronger contribution from Kampar Putra Sentral stemming from the expiry of the free-rental period and a higher occupancy rate as the student population returns from March FY22 onwards (to recap, the occupancy rate of Kampar Putra Sentral’s commercial area currently stands at 50% and tenants enjoy free rental amidst the MCO);
(iii) Bidor Sentral’s maiden revenue contribution from 2HFY23. The construction on Bidor Sentral has already commenced in FY21;
(iv) full-year recognition of rental from 2 of its logistic business tenants in FY22F with an expected annual contribution of RM30mil–RM36mil. Additional potential upside stems from the growth of tenants under its revenue-sharing model;
(v) securing more asset-light third-party terminal management contracts (TMC).
We continue to like Perak Transit for:
1. Its unique business model in operating modern public transport terminals that emulate airports with spacious and brightly-lit shopping, dining and waiting areas as well as clean public facilities, particularly washrooms. These entice visitors to spend more money and time in the terminals prior to their departure or upon their arrival, or while sending off or picking up their loved ones. This captive traffic is monetised in the form of rental incomes from commercial units and advertising space within the terminal;
2. Having proven the commercial viability of this business model in its interstate transportation hub, Terminal Meru Raya in Ipoh and the newly-opened Kampar Putra Sentral. Kampar Putra Sentral is also buoyed by a fast-growing student population in the campus town of Kampar. This student population has a high propensity to travel during school breaks and festivities as well as during weekends for leisure; and 3. The vast opportunities to replicate this successful business model. Already, it has at least
3 more projects in the pipeline in Bidor, Tronoh and Alor Setar.
Given that the stock is trading at an undemanding FY23F PE of 9x vs. 3-year average of over 20x, Perak Transit offers investors a good opportunity to own a defensive public infrastructure business. The group has the potential to replicate its business model for further growth.



Source: AmInvest Research - 24 May 2022

Posted by 240gpark > 2022-05-24 16:22 | Report Abuse

Aminvest giving support. hmm.... still can go ?

Posted by JTleong > 2022-05-24 17:35 | Report Abuse

Super ugly candlestick with volume. Believe more downside to come

Posted by sianglong91 > 2022-05-24 18:20 | Report Abuse

Technical wise, I think tomorrow going to have a mixed sentiment. Didn't expect the downturn coming from macros

Posted by TreeTopView > 2022-05-24 19:01 | Report Abuse

Another 1.6 million bought today by the MD.

Posted by bojed > 2022-05-24 21:59 | Report Abuse

Should've sold yesterday adoiii now -1 sen loss.

I guess I'll just hold it for the next round of dividends.

Posted by danchong > 2022-05-25 10:19 | Report Abuse

file:///C:/Users/Danny%20Chong/Downloads/Perak%20Transit%20220524_Amended.pdf

Aminvest has amended its report to

As at the end of March 2022, its PFF segment’s order book
amounted to RM30mil which will be recognised over the
next 12 months.

Posted by ZorosInvestFund > 2022-05-25 12:32 | Report Abuse

no matter what the PFF will still be recognized in this year, I guess 9/12 x RM30mil?
Zoros is still happy with the growth, keep it up Ptrans!

Posted by kentck86 > 2022-05-25 12:45 | Report Abuse

anyone has the rakuten briefing presentation slide yesterday?

Posted by ZorosInvestFund > 2022-05-25 12:49 | Report Abuse

but looking at historical chart, the stock normally will fall after result release, then rebound to new high after few weeks, what was happening?

Posted by hoot9eonly > 2022-05-25 17:02 | Report Abuse

Take profit and leave, Wait for next adjustment and reenter again

Posted by TreeTopView > 2022-05-26 08:23 | Report Abuse

After delivering a very solid quarterly with record revenue and net profit my sentiment remains a buy and hold. I'd assume a lot of the selling on Tuesday after the release of the quarterly was from punters who had jumped into the stock in recent weeks as it moved upwards. You could probably include some of Monday's buyers too.

As for the technicals, Tuesday's "sell off" brought the price below the short term moving average for the first time in almost two months, around March 10. Currently the damage to the chart appears very limited and only requires the price to move up to and beyond 69.5 for the short term trend to be back on track.

If it breaks above 69.5 , then we would be looking at the two previous targets of 70.5 and 72.5/73, imo.

Posted by ZorosInvestFund > 2022-05-26 11:40 | Report Abuse

seems like a good buy for long term, low valuation + good dividend+ recovery of economy + support by director

Posted by TreeTopView > 2022-05-28 11:53 | Report Abuse

@ZorosInvestFund, I can't disagree with the four highlight points you mentioned, however the most important one you have left out is growth. That is the most relevant key word when referring to this company, imo.

Going through the recent quarterly again (for about the fifth time!! :) ) I can't see any reason why those figures can't be replicated throughout the remainder of this current financial year. In fact, there is no reason that I can currently see that those figures won't gradually increase, barring any unforeseen nasty local or global event. There are no "one off"additions that skew the quarter's revenue to appear better than they will be going forward. In fact, the one detrimental figure that softened the net profit figure was deferred tax liabilities.

For any investment stock I hold, I would never use a single quarterly report to determine the remainder of the year's results, but in this case I am struggling to find anything that will negatively effect their revenue and profit for FY22.

I ask the question to holders for a debate, is there any reason that you can currently see that the revenue for FY22 could not be around Rm160 million?
I hope long term holders make comments.

Posted by ZorosInvestFund > 2022-05-28 16:13 | Report Abuse

@TreeTopView can't agree more with that. From aminvest report, we see there is a almost certain growth in the next few years due to potential increase of rate from Kampar Putra Central, commencement of Bidor Sentral in 2023, and also the logistic tenant. It's a low risk high return investment from my view

Posted by sianglong91 > 2022-05-28 21:49 | Report Abuse

All I care is this company growth is commendable, futuristic and not to forget their increment of ESG rating which will attract more investors

Posted by ChongLeeWoon > 2022-06-01 21:32 | Report Abuse

https://www.theedgemarkets.com/article/perak-transit-appoints-edotco-malaysia-provide-inbuilding-telco-solutions

RM1 let's go

Posted by remus > 2022-06-02 08:53 | Report Abuse

- Ptran entered strategic alliance agreement with edotco Malaysia to appoint the latter to provide the services to build, erect, install, construct, maintain and operate the relevant in-building solutions.
- edotco Malaysia shall pay rental for the usage of the relevant locations required or requested by edotco Malaysia for the installation and erection of the relevant assets and to enter into a tenancy agreement for each of the relevant locations.
Questions:
Who will pay for the installation of services/in-building solutions? any Capex requirement from PTRANS? estimate how many locations & what rental income?

Posted by TreeTopView > 2022-06-02 09:36 | Report Abuse

@remus, Edotco is primarily a tower services provider, so they will be renting space from PTrans for those instillations. I would assume there would be no Capex for PTrans as edotco will build and charge their clients for utilising their tower space.
The announcement states that Edotco will be paying market price for the rental space.

Seem,s like a nice new rental revenue stream for PTrans, imo.

Posted by filifala666 > 2022-06-03 11:38 | Report Abuse

gogogo

Posted by hoot9eonly > 2022-06-07 12:18 | Report Abuse

Sentiment bad. Interest buyer. Discount soon ?

Posted by software guy > 2022-06-07 15:50 | Report Abuse

@kimpau, PTRANS did not hit 0.79 by end of May 2022.

Posted by bojed > 2022-06-07 17:00 | Report Abuse

YEEEHAAAA!!!!!

Posted by cheeseburger > 2022-06-07 17:37 | Report Abuse

no worry, we still buying.

Posted by unclelimhuat > 2022-06-08 09:47 | Report Abuse

hoot ptrans-wb before too late, rare golden chance 可遇不可求

Posted by TreeTopView > 2022-06-21 07:37 | Report Abuse

The MD of this company seems to have an insatiable appetite for buying shares in this company.
Last Friday's purchases along with yesterday's should take his total buying in the last two months to around 10 million shares. Seems like a positive sign of his confidence in the business.

I continue to hold this stock.

DATO' SRI CHEONG KONG FITT (a company director) acquired 1,010,000 shares at 0.707 on 17-Jun-2022.

DATO' SRI CHEONG KONG FITT (a company director) acquired 1,245,000 shares at 0.708 on 20-Jun-2022.

Posted by TreeTopView > 2022-06-21 15:53 | Report Abuse

An updated report from AmInvest today for PTrans.
https://klse.i3investor.com/web/pricetarget/research/63751

They seem to have a good handle on the company with realistic expectations going forward. I can't see anything in the report that I'd disagree with, although it would have been handy if they had asked the company if they had secured any new tenants. Apart from that, all good with this update from them.

Posted by TreeTopView > 2022-06-22 08:05 | Report Abuse

The MD's buying continues yesterday :)

DATO' SRI CHEONG KONG FITT (a company director) acquired 782,000 shares at 0.726 on 21-Jun-2022.