aizuddin666waa 265 quite gud lor, this one has potential to go higher..u see the movement from below ema 21 until now has reach up ema 7, will continuely going upper just patient
05/04/2021 2:04 PM
thestewardResult was our last week so it is already accounted for . Today is just some small amendment to the result that was already out last week .
chongkipaiIs Chong father and son behind bar already? Protasco only got hope when the Chongs are captured. What they did to protasco was shocking day light robbery.
excelyou STILL BELIEVE? Move to steel counters 07/04/2021 9:28 PM
suffianfauzi X jalan lagi ini stock 10/04/2021 2:22 PM
pendekarbujang when to wake up?
29/04/2021 3:24 PM
awesome20rumor new contract worth RM250million going to prtasco..soon to announce after official award
10/06/2021 6:37 PM
ChongCaoHaiLeft the company 2 years ago still got people looking at this stock? Protasco is walking zombie. Either Chong Ket Pen or Protasco end result is the game - gone case. RM250 billion contract also useless as Chong and cronies will steal from Protasco. Working there also feel guilty.
19/06/2021 7:27 PM
hafizsmj@ChongCaoHai, you see from chart 2 years ago and that fiasco already priced in. Now monthly chart is uptrending from the last crash March 2020. If you say the company is gone case already, it should have just flatten al the way then.
27/06/2021 6:12 AM
ChongNSonsMany years ago the Chongs cheated some shareholders and took control of Protasco Bhd. Everyone in Protasco knows the old story.
Chong Ket Pen and son Chong Ther Nen made use of his staffs to put blame on others to gain control of Protasco. Then Chongs' took all Protasco money for himself until today. That's obvious.
Most Protasco staff saw Chong staff involved suffer karma and left one by one. On the board itself, one is chairman Hadenan died. Then accountant Ho Chun Fuat died. Chong Ket Pen's partner Tan Heng Kui left Protasco. The only directors of that time left is Tan Yee Boon, Chong Ket Pen and son Chong Ther Nen. Maybe Protasco need to burn all money before the father and son face their karma. Who is next?
14/07/2021 11:31 PM
TanHengKuiSoulWorked in this corrupted company before. All Chong Ket Pen father and sons are criminals. Sure good for Chong Ket Pen but not the staff. Cheating all the money and bring Protasco to his grave burn in hell. Moreover investors. lol.
06/09/2021 11:17 AM
Goldenhorsethey are always a profitable construction company with real construction team. unlike some hokidoki counters. anyway the material litigation case is just done by someone jealous of them. making life hard. all contract signed with condition precedent and consideration which is signed and verified for each page and if not met why sue someone ? opportunity loss isn't something known risk as condition precedent isn't met. Anyway the covid situation has make this counter a good one. Dato let's make this a come back. for your investor that follow you.
GoldenhorseFor 6MFY21, cumulative net profit stood at RM6.5m vs. a net loss of RM4.2m recorded in the previous corresponding quarter. Revenue for the period grew 29.7% YoY to RM398.5m. The reported net profit came within expectations, making up to 47.1% of our net profit forecast of RM13.6m. We expect further recovery is in store towards the remainder of the year with kitchen sinking exercises completed in FY20.
05/11/2021 8:07 PM
GoldenhorseProtasco Decentrum City, one of the projects of Protasco Bhd
KUALA LUMPUR: Protasco Bhd returned to the black in the second quarter, boosted by stronger contribution by its road maintenance division.
The company made a net profit of RM6.4mil in the three-month ended June 30, 2021 compared with a loss of RM1.7mil a year ago.
Revenue improved to RM189mil from RM172mil previously, Protasco said in a filing with Bursa Malaysia yesterday.
Maintenance business generated a revenue of RM142.3mil and a pre-tax profit of RM11.7mil.
05/11/2021 11:15 PM
Pek79anyone know what/who is the Non-controlling Interest mentioned in the reports? Why profit need to go to this non-controlling interest before share to share holder?
19/11/2021 4:17 PM
shortinvestor77For example, if the organization owns 70% of the subsidiary and a minority partner owns 30% and subsidiaries net income say $1M. The non-controlling interest would be calculated as $1M x 30% = $300k. This $300k would be placed on a non-operating line item on the Income Statement.
23/11/2021 3:39 PM
Pek79Many thanks for the explanation. but this seem doesn't apply to PRTasco Non-controlling Interest. The Non-controlling interest not only share the profit, but they do have guaranteed return, their return will not lower than RM3,000,000 per quarter. Like happened in 2020 Mar & 2020 Jun, the Net profit before tax is not enough to pay the guaranteed return to Non-controlling interest, the owner was force to record in loss in order to pay the guaranteed return, even the Net profit before tax on that quarter was report positive.... the worst happened on 2020 Dec, the company report Net lost but still pay to these non-controlling interest..... 2020 Sep the pay to non controlling interest had increased to RM7,738,000!
24/11/2021 3:51 PM
Goldenhorseflood just happened. so alot of the road will crack and have portholes. some errosions so maintenance work needed. the flood is so bad this time. good thing is the jobs all coming
20/12/2021 2:04 AM
Goldenhorseminority interest means shareholders at the subsidiary level. it is fairly split even among based on percentage. so some subsi who made more pay more less the lesser. is fair one la. Lol. it is not preference share btw. minority interest is just the smaller shareholders at subsidiary
20/12/2021 2:07 AM
mk88after floods, many potholes everywhere and landslides, road maintenance should be getting more road maintenance contracts
GoldenhorseCash in bank RM100m ish, The land in Bangi/Kajang RM68m ish (havent revalued), This price trading at such discount, yummy, can buy the whole company over take Dato Sri in shareholding just need RM50m hehehe. D'Sri can sweat if someone take over and kick him as deputy chairman. If you calculate the assets over share count. perhaps around RM1 ish, hehehehe. time to raid this co and kick the founder out
07/07/2022 1:39 PM
Goldenhorsecan buy a RM1 company at 17 sens wohoho, Dato Sri, its just RM50m, hehehe get RM100m and kajang land
07/07/2022 1:40 PM
Goldenhorselol where got company traded below its cash in the bank! LOL
Pek79From the date it start to jump up, seem like main reason is legal action was proceed to the persons who were said cheated to the company during the Indonesia investment.
13 Dec 2023 LEGAL SUIT AGAINST PT ANGLO SLAVIC UTAMA (1st Defendant), TEY POR YEE (2nd Defendant) AND OOI KOCK AUN (3rd Defendant)
21 Dec 2023 BANKRUPTCY PROCEEDINGS AGAINST TEY POR YEE AND OOI KOCK AUN
another reason could be the company finally gain positive profit on 3rd quarter.
28/12/2023 9:37 AM
virgogoBoth Tey and Ooi are former directors of Protasco Bhd. The company was misled by the 2 directors to invest in Indonesia. High court found them guilty. They are well to do individuals. If Protasco is able to recover just half of the judgment sum, will be good enough.
28/12/2023 11:15 AM
Diamond7Truth is revealed! Chong ket Pen honest businessman... Hope wil brin Prtasco back to glory days!
virgogoAiyo. Tun Daim has already lost his influence in awarding contracts. Businessman like Chong are pragmatic and will keep in touch with those in power so that he continue to do business and get contracts. Look at the new contracts awarded to the company the past 2 years. Same as Vincent Tan, who is friendly to all politicians past and present. Someone is intentionally trying to tarnish Chong name. Maybe because of the court case he won recently
02/02/2024 6:54 PM
JJPTRTHE Securities Commission Malaysia (SC) has filed a civil suit in the Kuala Lumpur High Court against five individuals for allegedly perpetrating a scheme to defraud and/or causing wrongful losses valued at RM120.6 million to four public-listed companies.
In a statement on Dec 12, the SC said it filed the suit on Nov 29, 2022 against Tey Por Yee (ASDION, IQZAN ,PRTASCO), Lim Chye Guan(NEXTGRAM}, See Poh Yee(NEXTGRAM, ASDION), Francis Tan Hock Leong (R&A) and Faizatul Ikmi Abdul Razak.(NEXTGRAM, IQZAN)
It said the companies involved are 1. Nexgram Holdings Bhd 2. R&A Telecommunication Group Bhd (delisted) 3. Asdion Bhd 4. Ire-Tex Corp Bhd. (new name IQZAN)
01/03/2024 1:54 PM
JJPTRAnother messy company involving messy Sales and Purchase deal. YNH property Bursa Securities unearths RM150m oversight by YNH Property
By Faiqah Kamaruddin January 18, 2024 @ 10:50am
KUALA LUMPUR: Heavy selling pressure in YNH Property Bhd has led Bursa Malaysia Securities Bhd to unearth an oversight on YNH Property Bhd's part in not announcing a planned acquisition of a 2.06 hectare site in Desa Hartamas, Kuala Lumpur for RM150 million.
When queried by Bursa Malaysia Securities Bhd on an announcement made in May 2023 that its subsidiary Kar Sin Bhd is to dispose of land in Desa Hartamas for RM170 million to Sunway Living Space Sdn Bhd, YNH Property said not announcing the proposed acquisition of the Desa Hartamas land from Great Wall Park Sdn Bhd (GWP) was an oversight on its part.
Citing the company's response to a query by Bursa Securities on May 25, 2023 and a query from Bursa Securities on the proposed disposals dated Jan 16, 2024, Bursa Securities asked YNH Property to provide the details and update on the steps/actions taken in rectifying the oversight and ensure that an announcement on the said acquisition is made prior to seeking the approval of YNH's shareholders for the said acquisition.
On April 18, 2022, the wholly-owned subsidiary of the YNH Property, Kar Sin Bhd (KSB) entered into a sale and purchase agreement with Great Wall Park Sdn Bhd (GWP) for the proposed acquisition of 2.06 hectare of land in Desa Hartamas, Kuala Lumpur for RM150 million. In April 2022, KSB and GWP entered into a supplemental agreement to use RM239.5 million owing to KSB by GWP following the termination of a turney construction agreement dated June 20, 2016 to be paid as purchase consideration for the land In September 2022, KSB and GWP agreed that KSB is not to to develop the Desa Hartamas land and KSB has sold the land to a third party purchaser.
The remainder RM89.5 million is to be refunded by GWP to KSB by June 30, 2024. Questions... 1.Will GWP refund $RM89. 5million to YNH? 2.Original land purchase by YNH subs is RM $150m, than revised to RM170m, than revised to $RM239. 5m. YNH overpaid by $239.5m- $150m=$89.5m.
Dehcomic01Some times companies look for new ventures because the existing ones are not able to scale up. But new venture use up funds.
Take the case of Protasco. The company has reported 11 business segments even though the revenue for 2023 was only about 1 RM billion.
You may be forgiven for wondering whether management is just trying many things to see what works. When you look at the chart, you can see that only one segment is driving revenue and earnings. https://i.postimg.cc/3wXQxfYW/Protasco.png
It suggests that management is trying luck to see what else they can do. The worse part is that several of its historical ventures have lost money. And there are some which have ended up as legal cases as the company tried to recover what was paid.
I would think that it may be better for the company to return the excess funds to shareholders than try luck. Protasco is a cash cow. But the cash is not well deployed.
For more insights refer to https://www.youtube.com/watch?v=pBy8xOmH4Hs
