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Insider - Director Hints :
  anthonytkh Check RHB’s 2021 Top20 Small Cap which RHB released more than a year ago. I very much doubt the Ptrans bosses lied to RHB during their meeting back then… 22/07/2022 5:26 PM PSAi3alert dragon328, Here are the hard facts, bus fare income was only RM1.352M in 2021, about 1% of total revenue for the year. Between 2019 and 2021: Bus fare income plunged by 87.6% Entrance fee fell 81.6% Car park fee dropped by 84.3% Rental income increased by 92.52% Project facilitation fee increased by 32.88% Net margin for 2021 was a record high of 38% PTrans RM (Millions) __________________________________ 2019 ______ 2020 _____ 2021 Bus fare income ________________ 10.902 _____ 3.964 _____ 1.352 Govt support fund _______________ 14.307 _____ 13.109 ____ 14.397 Bus charter and advertising _____ 8.369 ______ 8.436 _____ 8.424 Rental Income __________________ 25.537 ____ 30.857 _____ 49.165 Project facilitation fee ___________ 29.350 ____ 39.550 _____ 39.000 Entrance fee ____________________ 0.0816 ____ 0.0333 _____ 0.0150 Car park fee _____________________ 0.495 ______ 0.156 ______ 0.0773 Profit sharing terminal mgmt ___ 0.373 _____ 0.357 ______ 0.218 Between 2015 and 2021, RM171.64M was recognized as PFF income. At 2.5% of GDV, RM6,865.6 millions worth of bus terminals would have have been built. Locations of those terminals have never been accounted for. PTrans RM (Millions) Year _____ PFF ____ Rental ____ Advert ____ Net Profit , margin 2015 ____ 9.669 ____ NA _______ NA ______ 19.188 , 26% 2016 ____ 13.914 ___ NA _______ NA ______ 21.724 , 24% 2017 ____ 18.457 ___ 21.738 ____ 7.347 ____ 29.015 , 27% 2018 ____ 21.700 ___ 23.327 ____ 7.347_____ 36.030 , 32% 2019 ____ 29.350 ___ 25.537 ____ 8.369 _____ 40.009 , 32% 2020 ____ 39.550 ___ 30.857 ____ 8.436 _____ 42.046 , 35% 2021 ____ 39.000 ___ 49.165 ____ 8.424 _____ 53.225 , 38% . 22/07/2022 5:27 PM PSAi3alert PTrans major customers for PFF, rental, advertisement and bus charter are: Maksima Timur represents - all of PTrans' Project Facilitation Fee Income Rezeki Megajaya - PTrans' major customer for rental of A&P spaces and bus charter Century Edge Group - undertakes the rental of promotional spaces Those 3 companies would have contributed RM96 million to PTrans revenue in 2021. However, searches on those 3 companies show that their own combined reported revenue is only about RM60 million. Maksima Timur and Rezeki Megajaya have both reported losses of over RM4 million each. Maksima Timur's current liabilites have swelled to RM128 millions. Maksima Timur Sdn Bhd Auditor: CWC & Company (AF0873) FYE (RM Millions)________ 30-09-2020 _________ 30-09-2021 Revenue _________________ 29.595 _____________ 37.125 PBT _____________________ -1.881 _____________ -3.605 PAT _____________________ -1.314 _____________ -4.007 Non-Current Assets ______ 22.37 _____________ 8.368 Current Assets ___________ 104.446 ___________ 122.332 Non-Current Liabilities ___ 2.552 _____________ 1.175 Current Liabilites ________ 118.804 ____________ 128.071 Share Capital ____________ 0.300 _____________ 0.300 Retained Earnings _______ 5.16 ______________ 1.153 Rezeki Megajaya Sdn Bhd Auditor: CWC & Company (AF0873) FYE (RM Millions)______ 30-09-2021 Revenue _____________ 6.925 PBT _________________ -4.267 PAT _________________ -4.413 Non-Current Assets _____ 0.388 Current Assets _________ 8.513 Non-Current Liabilities ___ Current Liabilites _______ 11.460 Share Capital __________ 0.100 Retained Earnings ______ -2.66 Century Edge Group Sdn Bhd Auditor: LKH & Co (AF002089) FYE (RM Millions)______ 31-12-2020 Revenue _____________ 17.997 PBT _________________ 0.0244 PAT _________________ 0.0200 Non-Current Assets _____ 0.0039 Current Assets _________ 8.853 Non-Current Liabilities ___ 0.0006 Current Liabilites _______ 8.765 Share Capital __________ 0.01 Retained Earnings ______ 0.08 . 22/07/2022 5:28 PM PSAi3alert https://www.theedgemarkets.com/article/perak-transit-seeks-new-revenue-streams [Perak Transit executive director Datuk Cheong Peak Sooi highlights that since September last year, the group has seen new revenue contributions from two logistics tenants — B&L and UFO — at both Terminal Meru Raya and Kampar Putra Sentral. “We expect to see a new revenue contribution of around RM2.5 million to RM3 million every month,” he estimates.] B&L & UFO courier are new setups and they are merely agents for local courier companies. Web domain: bandlexpressampangipoh.com Created: 2021-06-27 06:50:52 UTC Office: https://lh3.googleusercontent.com/p/AF1QipNY-G82Pq2ecFJ88OMonYj1ZpCvENKL2yYU1LeA=w960-h960-n-o-v1 UFO Express Office: https://www.facebook.com/photo/?fbid=251806123801478&set=ecnf.100069576281471 . 22/07/2022 5:36 PM anthonytkh Dude, I take extreme exception to your “merely agents”, uh, erm, “description”….. 22/07/2022 5:42 PM TreeTopView I was going to start a lengthy reply but decided I was enjoying my beer too much (it is Friday, after all) and that it is also up to the company to "defend" itself, not me. I couldn't let these two pass through to the wicket keeper before smashing them out of the ground, though. "Between 2015 and 2021, RM171.64M was recognized as PFF income. At 2.5% of GDV, RM6,865.6 millions worth of bus terminals would have have been built. Locations of those terminals have never been accounted for. " WOW, just wow!! You clearly have no idea what the PFF revenue encompasses. Stating that Rm7 Billion worth of new bus terminals have been built is insanity. Then your next gem.........."Perak Transit executive director Datuk Cheong Peak Sooi highlights that since September last year, the group has seen new revenue contributions from two logistics tenants — B&L and UFO — at both Terminal Meru Raya and Kampar Putra Sentral. “We expect to see a new revenue contribution of around RM2.5 million to RM3 million every month,” he estimates. Well, this one you almost got right.....BUT.......that was only a partial quote from the Director. The reality is that current monthly revenues from the logistic partners are much lower than that figure and when you research the full transcript you will see that it was only guidance on what they eventually expect to collect from their eventual logistics hubs. Partial quotes from media can be sometimes misleading. As an example........ "It has been reported that PSEi3alert has a massive dick".........sounds good so far, right? However when you read the full quote it changes a bit......."It has been reported that PSEi3alert has a massive dick in comparison to an ant's dick". Not quite so good now. Anyway, my time with you is done......the beer beckons. 22/07/2022 7:06 PM PSAi3alert The 2.5% of GDV value for PFF fees has been detailed in PTrans IPO prospectus There is only one customer for the PFF income PTrans PFF reported revenue from Maksima Timur has exceeded Maksima Timur's revenue!!! PTrans Revenue (RM Millions) _______ 2020 _____ 2021 Project facilitation fee ______________ 39.550 _____ 39.000 Maksima Timur FYE (RM Millions)________ 30-09-2020 _________ 30-09-2021 Revenue _________________ 29.595 _____________ 37.125 PBT _____________________ -1.881 _____________ -3.605 PAT _____________________ -1.314 _____________ -4.007 Current Liabilites ________ 118.804 ____________ 128.071 -------- Excerpts from PTrans prospectus During PTrans IPO in 2016, the following information was provided: Projects _____________________ Est GDV RM (M) ____ PFF RM (M) _____% Terminal Kampar, Perak __________ 128.33 __________ 3.22 _________ 2.5% Terminal Kemaman, Terrengganu ___ 64.15 _________ 1.60 _________ 2.5% Terminal Kota Bahru, Kelantan _____ 194.00 __________ 4.85 _________ 2.5% Maksima Timur represents all of PTrans' Project Facilitation Fee Income and includes acting as Project Manager (for the construction of new integrated land transportation terminal complexes) to prospective parties. Services by PTrans to Maksima Timur include rental of Terminal AmanJaya's equipment, utilities and facilities, preparing preliminary concept paper for proposed project, discussion and sharing of knowledge relating to design, planning and construction of terminal and attending all meetings organised by Maksima Timur with SPAD and other governmental departments. Page 71 IPO Prospectus Premised on our services above, in the FYE2014, FYE 2015 and the FPE 2016 our Group derives revenue in the form of the Project Facilitation Fee from one (1) customer, namely, Maksima Timur . 22/07/2022 8:01 PM dragon328 The initial feedback from the management is encouraging. They clarified that project facilitation fee is mainly consultancy fee received by providing advice and expertise in relation to new terminal development, typically at 2.5% of project GDV but sometimes higher. The reason for increasing PFF in recent years is because the group has ventured more to other states to advise state authorities / developers on new terminal projects and also rejuvenation work on existing transportation terminals to improve on rental income. Some of the new terminal projects are just at planning stage and may not even get constructed but Ptrans charged for consultancy services at this early stage of development. As for the huge amount of RM39m p.a. in FY2020-2021 and implied GDV of over RM1.0 billion, the management clarified that these were from a number of projects in different states, each with a GDV of RM200m - 400m. Due to confidentiality, the management cannot disclose some of these projects and their owners/locations yet until the project finally achieves Final Investment Decision (FID) and the project owner announces it publicly. 25/07/2022 3:58 PM dragon328 @PSAi3alert, thank you for highlighting the financials of Maksima Timur. While it may be strange for Maksima Timur to incur a loss in 2021, please note that the financial year end of Maksimar Timur is 30 Sept while for Perak Transit the financial year end is 31 Dec. There could be a timing difference in the recognition of revenue and costs for these 2 companies in relation to the project facilitation fees. 26/07/2022 3:17 PM dragon328 There must be some reasons why the company structures the project facilitation fee through another company in Maksima Timur. The ownership is different and the expertise could be different in these 2 companies. For Maksima Timur to carry out project facilitation for other parties, it needs to utilise some of the facilities at existing terminals of Perak Transit and some manpower / expertise from Perak Transit, so it does not need to have big asset nor office overhead. It does not carry out construction activities so it does not need to have construction equipment or construction workers. It is primarily involved in providing consultation services, expertise in relation to transportation terminal design and construction and operations & maintenance, project management, liaising with local authorities and SPAD, etc. As you may know, typical construction projects involve a construction company, architect, consultants and a project management company. Architects and C&S/M&E consultants may earn a fee of 2% to 5% of the project costs, and the project management company may earn a fee of 2% to 7% of project costs to manage the project from planning, development, getting approval, supervision of construction works to completion. It is rather reasonable for Perak Transit / Maksima Timur to charge a project facilitation fee of 2% of project GDV. They could charge higher if a terminal project achieves final investment decision and proceeds with construction so that they can provide project management services throughout the construction phase. 26/07/2022 3:29 PM dragon328 One reason I could think of why Maksima Timue incurred a small loss is because they wanted to park most of the profit at Perak Transit where they have capital allowance to offset against income tax. Had they park big profit at Maksima Timur, this company would incur a full 25% income tax rate. That's my view, to be confirmed with management. 26/07/2022 3:32 PM PSAi3alert dragon328, Between 2016 and 2021, PTrans recorded a total of RM161.971M for project facilitation fees (PFF), implying a total GDV of RM6478.84M. At an average RM300M ( RM200m - 400m number came from you ), that means 21.6 bus terminal projects were initiated between 2016 and 2021. And for each bus terminal project, state authorities will engage and pay Maksima Timur for project facilitation. Maksima Timur will, in turn, engage and pay PTrans an average of RM7.5M for each project. Out of the 21.6 projects, how many has achieved Final Investment Decision (FID) whereby the project owners/locations can be revealed? About one third of the 2,224 passengers and crew aboard Titanic survived. Surely, the success rate for PTrans will be better than one third. After all, RM161.971M is a lot of money collected for project facilitation fees. Ok ok. Let's take one third of 21.6 projects to have successfully reached FID and the names can be revealed. Pray name the owners and locations of the 7 projects ( one third of 21.6 ). ---- Posted by dragon328 > 2 days ago | Report Abuse As for the huge amount of RM39m p.a. in FY2020-2021 and implied GDV of over RM1.0 billion, the management clarified that these were from a number of projects in different states, each with a GDV of RM200m - 400m. Due to confidentiality, the management cannot disclose some of these projects and their owners/locations yet until the project finally achieves Final Investment Decision (FID) and the project owner announces it publicly. 27/07/2022 8:44 PM PSAi3alert You want Ptrans PFF revenue for the period between 1st Oct to 30th Sep of the following year, so as to be able to compare against Maksima Timur's financial year end? Sure, here it is: Ptrans PFF Revenue 1-10-2020 to 30-9-2021 = RM52.6M ( RM39M + RM13.6M ) 1-10-2019 to 30-9-2020 = RM33.95M ( RM25.95M + RM8M ) Maksima Timur FYE (RM Millions)________ 30-09-2020 _________ 30-09-2021 Revenue _________________ 29.595 _____________ 37.125 PTrans PFF revenue FYE (RM Millions)________ 30-09-2020 _________ 30-09-2021 Revenue _________________ 33.95 _____________ 52.6 --->>> For the 30th September 2020 year end, Maksima Timur would have billed some secretive state authorities an amount of RM29.595M. PTrans, in turn, would have billed Maksima Timur an amount of RM33.95M for the project facilitation services. --->>> For the 30th September 2021 year end, Maksima Timur would have billed some secretive state authorities an amount of RM37.125M. PTrans, in turn, would have billed Maksima Timur an amount of RM52.6M for the project facilitation services. --->>> In those 2 financial periods, Maksima Timur would have lost RM19.83M ( 29.595 - 33.95 + 37.125 -52.6 ) by being the middle man. --- PTrans Q4 2021 no PFF income Revenue in the current quarter was lower mainly due to no project facilitation fee recorded in the current quarter --->> 9 months of PFF income is RM39M https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=217390&name=EA_FR_ATTACHMENTS PTrans Q3 2020 9-months PFF was RM25.95M "...higher project facilitation fee recorded in the current FPE 30 September 2020 of RM25.95 million as compared to RM21.35 million in the corresponding 9-months FPE 30 September 2019." --->>> Q4 2020 PFF income is RM13.6M (Full year 39.55M - 9 months 25.95M) https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=211731&name=EA_FR_ATTACHMENTS PTrans Q3 2019 9-months PFF was RM21.35M ...higher project facilitation fee recorded in the current FPE 30 September 2019 of RM21.35 million as compared to RM14.70 million in the corresponding 9-months FPE 30 September 2018 --->>> Q4 2019 PFF income is RM8M (29.35M-21.35M) https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=207217&name=EA_FR_ATTACHMENTS ---- Posted by dragon328 > 1 day ago @PSAi3alert, thank you for highlighting the financials of Maksima Timur. While it may be strange for Maksima Timur to incur a loss in 2021, please note that the financial year end of Maksimar Timur is 30 Sept while for Perak Transit the financial year end is 31 Dec. There could be a timing difference in the recognition of revenue and costs for these 2 companies in relation to the project facilitation fees. 27/07/2022 9:00 PM PSAi3alert As mentioned, a batting average of one-third will be Titanic sort of disastrous performance. So 7 (out of 21.6) projects that have proceeded to construction is minimally expected. Unfortunately, not a single has been named. Want to know what the project facilitation really is about? It's detailed in page 87 of PTrans IPO prospectus. It just need 2 executive directors and 2 terminal staffs to spend 2 hours per day, over 2 days our of 5 working days with secretive unnamed customers. Nothing heavy. Just show them around the terminal and have tête-à-tête sessions. The man-hours charged out per year for the Project Facilitation Fee is calculated as: 4 (2 directors and 2 terminal staffs) x 2 x 2 x 52 = 832 man-hours = 104 man-days RM39M was billed for PFF in 2021. The billed rate will be RM46,875 per man-hour (RM39M / 832 hours) or RM375,000 per man-day (RM39M / 104 days) If the 2 terminal staffs are not critical to the process, the billed rate for the 2 executive directors would have been RM93,750 per man-hour or RM750,000 per man-day. A top partner in McKinsey does not command that sort of billing rate. Neither does a top Queen's Counsel. Maybe an ex US President. ---- Page 87 of IPO prospectus PFF cost calculation The cost in deriving the GP and GP margin of Project Facilitation Fee is in relation to the payroll cost and terminal related expenses (i.e. mainly depreciation). The basis of apportioning payroll cost and terminal related expenses due to Project Facilitation Fee, is arrived based on the director's estimation of: a) the time apportionment with a average of 2 hours per day over 8 working hours of the two (2) Executive Directors and two (2) terminal staffs for two (2) out of five (5) office working days; and b) number of hours where Maksima Timur is allowed to access Terminal AmanJaya's equipment, utilities and facilities, e.g. from 6.00 a.m. to 7.00 p.m. on a daily basis ---- Posted by dragon328 > 1 day ago It is rather reasonable for Perak Transit / Maksima Timur to charge a project facilitation fee of 2% of project GDV. They could charge higher if a terminal project achieves final investment decision and proceeds with construction so that they can provide project management services throughout the construction phase. 27/07/2022 9:17 PM PSAi3alert The raison d'etre to start and run a company is to make profit. Not collect credit for tax losses. For the latest financial period, Maksima Timur lost RM4.007M, 10.8% of revenue. Their share capital is only RM300k. Rezeki Megajaya lost RM4.413M, 63.7% of revenue. Their share capital is only RM100k and now has negative shareholders equity of RM2.56M. Are you suggesting that it's better for a company to lose RM4M and have a tax loss credit of RM1M to be used in subsequent years? Wouldn't it be better to make RM4M and pay RM1M of taxes? You'll keep the RM3M profit after tax now. I do not understand what you mean by: "...park most of the profit at Perak Transit where they have capital allowance to offset against income tax..." Maksima Timur and Rezeki Megajaya are PTrans' major customers? What do you mean by parking of profits? There are laws against such practices: Securities Act: 84. False trading and market rigging transaction 85. Stock market manipulations 86. False or misleading statements, etc. 89. Insider trading --- Maksima Timur Sdn Bhd Auditor: CWC & Company (AF0873) FYE (RM Millions)________ 30-09-2020 _________ 30-09-2021 Revenue _________________ 29.595 _____________ 37.125 PBT _____________________ -1.881 _____________ -3.605 PAT _____________________ -1.314 _____________ -4.007 Non-Current Assets ______ 22.37 _____________ 8.368 Current Assets ___________ 104.446 ___________ 122.332 Non-Current Liabilities ___ 2.552 _____________ 1.175 Current Liabilites ________ 118.804 ____________ 128.071 Share Capital ____________ 0.300 _____________ 0.300 Retained Earnings _______ 5.16 ______________ 1.153 Rezeki Megajaya Sdn Bhd Auditor: CWC & Company (AF0873) FYE (RM Millions)______ 30-09-2021 Revenue _____________ 6.925 PBT _________________ -4.267 PAT _________________ -4.413 Non-Current Assets _____ 0.388 Current Assets _________ 8.513 Non-Current Liabilities ___ Current Liabilites _______ 11.460 Share Capital __________ 0.100 Retained Earnings ______ -2.66 ---- Posted by dragon328 > 1 day ago | Report Abuse One reason I could think of why Maksima Timue incurred a small loss is because they wanted to park most of the profit at Perak Transit where they have capital allowance to offset against income tax. Had they park big profit at Maksima Timur, this company would incur a full 25% income tax rate. That's my view, to be confirmed with management. 27/07/2022 9:37 PM MAX8186 Too much talking and debating. Took profit two weeks ago after holding since end 2020. Do your own research. 27/07/2022 9:47 PM dragon328 It is quite normal for many infrastructure projects not to proceed and just stop at the planning stage. At least we have seen some already up and running and Bidor terminal is under construction and Tronoh likely up next. 28/07/2022 12:15 PM dragon328 For me as a retail investor in Ptrans, what concerns me more is the financial performance of this listed company and its main operating assets. What I see is that operating cashflows continue to be strong with rentals and advertisement income ramping up as economy reopens with more travelling activities at the bus terminals. As the management has said, the PFF income is expected to come down going forward. We shall focus more on the core business as the management spurs up efforts in securing more logistic customers and rental incomes for its existing terminals and the upcoming Bidor terminal. 28/07/2022 12:19 PM dragon328 As retailer investor of Ptrans, I am happy to see another dividend of 0.75 sen coming ex on 3 August. Trailing 12-month dividends may top 3.97%, a decent yield. 28/07/2022 12:22 PM TreeTopView The share price has been going through a consolidation and distribution period for the past 8 trading sessions. As the volume starts to dry up we may see an upward move in an attempt to take on new levels. My key price points are still 87 cents with a possible move to 92 cents. If overall market conditions are positive then we may see the above comment come into play. A positive quarterly would obviously assist, which is due in around 3 weeks time. 01/08/2022 10:07 AM TreeTopView Consolidation and distribution still continuing within the gradually tightening Bollinger Bands. My first target of 87 cents still remains, which is now coincidently the level of the upper Bollinger Band. The immediate short term move is to break 83.5, then eventually take on 87 cents. 06/08/2022 11:31 AM  4ever5 I sold at 80sen and cant find any good entry point. This stock is realy on fire keep going up.. cheer to all investor that still holding.. continue monitoring this stock while parking my money on other dividend stock too. 10/08/2022 9:30 PM Aimanxkesah Additional Listing Announcement /Subdivision of Shares PERAK TRANSIT BERHAD 1. Details of Corporate Proposal Involve issuance of new type/class of securities ? No Types of corporate proposal Exercise of Warrants Details of corporate proposal Conversion of warrants into ordinary shares No. of shares issued under this corporate proposal 892,750 Issue price per share ($$) Malaysian Ringgit (MYR) 0.7500 Par Value($$) (if applicable) Latest issued share capital after the above corporate proposal in the following Units 709,500,555 Issued Share Capital ($$) Malaysian Ringgit (MYR) 326,312,937.780 Listing Date 04 Aug 2022 sifu can give thought? 11/08/2022 10:10 AM TreeTopView I'll jump in before your sifu eventually responds. It's a routine notice to the market that a Warrant holder has converted their warrants into shares. The exercise price of the warrant is 75 cents. Perhaps converted just in time to also pick up the current dividend. 11/08/2022 10:26 AM Aimanxkesah thank you my sifu Mr TreeTopView. im nubis. thanks very much. it will effect mother price share? 11/08/2022 10:39 AM TreeTopView Not really........what happens is that the warrant is transferred to a fully paid up share. The company receives full payment for the conversion, in this case 892,750 shares at 75 cents = Rm669,562.50 11/08/2022 10:49 AM TreeTopView Don't follow me on the bus, I'm only a passenger and not the driver :) 11/08/2022 3:04 PM dragon328 https://klse.i3investor.com/web/blog/detail/dragon328/2022-08-12-story-h1627892545-IGBB_is_an_Awakening_Property_Giant_worth_at_least_RM6_75 12/08/2022 12:55 PM TreeTopView Quarterly results just released. Profit up 4.3% compared to last quarter. Declared yet again another quarterly dividend. 16/08/2022 5:51 PM TreeTopView Press Release – For Immediate Distribution PERAK TRANSIT BERHAD REPORTS RECORD PROFIT AFTER TAX OF RM14.87 MILLION IN 2QFY22 AND DECLARES THIRD INTERIM DIVIDEND OF 0.75 SEN PER SHARE Press Release: https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=128801&name=EA_GA_ATTACHMENTS 16/08/2022 6:20 PM dragon328 This is indeed good news, impressive and resilient set of earnings mainly from operational growth in rental and advertisement income 16/08/2022 9:02 PM TreeTopView Aimanxkesah, yes it's positive news. A record quarterly profit for any business is always good news :) 16/08/2022 9:25 PM TreeTopView That 87 cent resistance price point that I've mentioned a few times in the past couple of weeks might be coming into play. The quarterly results released last night might be enough to help break the 87 cent level. If so, then look for around 92 cents as another target area, imo. 17/08/2022 9:28 AM TreeTopView @Aimanxkesah, you are a very polite guy/girl, there should be a lot more like you :) No need for the sifu "title" though, I'm merely an enthusiastic market participant. 17/08/2022 9:51 AM Aimanxkesah thank you Mr. TreeTopView. Im guy who is new in bursa. :-). willing to learn. 17/08/2022 2:39 PM TreeTopView Aimanxkesah.....Best of luck on your Bursa journey. Always tread carefully :) 17/08/2022 2:43 PM TreeTopView I've been tweeking the Fibonacci calcs now that the previous Fib point, 87 cents, appears to perhaps be broken. If 87 is definitely cleared then the next two points are, imo, 92.5 and 97.5 should the uptrend continue. A case could be made for 90/90.5, however that will probably be caught up in the "psychological" barrier of 90 cents, as it moves from the 80's to 90's. Just my thoughts. 17/08/2022 3:28 PM anthonytkh I like wearing shades, TTV :) Just a reminder to those new to Ptrans : 15-year RM500 Million Sukuk launched in 2019. Second tranche almost a year ago. 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