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So adg, any idea what's happening in the stock? Any changes in the business economics of Pintaras that is causing this change of fortune?
Care to share more your views?
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Thanks for your response. I see that nothing is happening to this stock in spite of the 2nd Quarter's excellent results, so I am seeking feelers/feedback from members here to see if any do feel positive enough about the Company. This stock is out of the analysts radar screen. So far I have not seen anyone writing about it in spite of the fact that it has quietly built up a cash pile to a level that the Directors decided it would be prudent to invest part of the funds in some quoted stocks, in the hope that it would give better returns than FD. The reports said that they do it though an Investment Advisor, not on their own.
As for the Company itself, I note that the Directors are all Professional Engineers (except for one out of the six). Hence the management are in the hands of people with the know-how. For that I feel comfortable.
In view of the excellent two quarterly results that have come out, it is worth a punt to invest at these depressed prices of 1.24 and wait for the final year announcement. The construction sector is poised to grow further in the coming years, so I am quite positive that this Company will also reap the benefits to produce some bumper results for it's year end account.
Sometimes we cannot explain why some stocks are just left to languish in the doldrums. Pintaras is one of them.
So adg, any idea what's happening in the stock? Any changes in the business economics of Pintaras that is causing this change of fortune?
Care to share more your views?
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
Thanks for your response. I see that nothing is happening to this stock in spite of the 2nd Quarter's excellent results, so I am seeking feelers/feedback from members here to see if any do feel positive enough about the Company. This stock is out of the analysts radar screen. So far I have not seen anyone writing about it in spite of the fact that it has quietly built up a cash pile to a level that the Directors decided it would be prudent to invest part of the funds in some quoted stocks, in the hope that it would give better returns than FD. The reports said that they do it though an Investment Advisor, not on their own.
As for the Company itself, I note that the Directors are all Professional Engineers (except for one out of the six). Hence the management are in the hands of people with the know-how. For that I feel comfortable.
In view of the excellent two quarterly results that have come out, it is worth a punt to invest at these depressed prices of 1.24 and wait for the final year announcement. The construction sector is poised to grow further in the coming years, so I am quite positive that this Company will also reap the benefits to produce some bumper results for it's year end account.
Sometimes we cannot explain why some stocks are just left to languish in the doldrums. Pintaras is one of them.
Regards
adg
Hi adg,
I am sorry because i think i had posed my question wrongly to you. So sorry.
Actually, what i meant was do you know what is happening to ptaras business that is causing this sudden change of fortune?
if you look at the financial data i posted earlier and i shall repaste it below
Sometimes we cannot explain why some stocks are just left to languish in the doldrums. Pintaras is one of them.
If you look at the table again... from fy 2003 to fy 2006, ptaras has really done nothing. Earnings were just around the 9-10 million per annum. As they say, lacklusture or no growth in its earnings for 4 years, which perhaps would explain why this stock was previously left to languish in the doldrums.
However, lately, the current earnings is indicating earnings 'could' be around 18 million and even much more.
This is the change of fortune i am talking about which caused the stock to appreciate quite a bit before the current mess.
It will be nice if we all know what's happening in the company...
anyway i had pointed out the company's dabbling in the stock market. How do you feel about this issue? Wouldn't you not prefer if the company you had vested interest pays you more back in terms of dividends, than to see the company dabbling in the stock market? And needless to say, for sceptics would surely say, does these management even know what they are doing? Are they traders? Punters? short term investors? or long term investors?
those were my initial reactions.. in which you have replied.. So far I have not seen anyone writing about it in spite of the fact that it has quietly built up a cash pile to a level that the Directors decided it would be prudent to invest part of the funds in some quoted stocks, in the hope that it would give better returns than FD. The reports said that they do it though an Investment Advisor, not on their own.
Firstly, i would look at the company's number of shares. Ptaras last had a bonus issue way back in 2002 - a 3 for 5 bonus issue and the end result is Ptaras till this very day has 80.064 million shares.
(this figure is useful to me so i know i won't get messed up in dilution of earnings etc etc when i make comparisons)
so using this 80.064 million as the main yardstick... let's examine ptaras dividend. (why, well arguement is if the company has got the money, isn't it better to SHARE?)
Short term investments 24,376
Short term deposits 39,511
Cash and bank balances 1,471
total <--> 65.358
Back in 2003, total cash was around 48.059 million. Now it is 65.358 million.
from 2003 to now, it paid 4.323 + 2.882 + 2.882 + 2.882 = 12.969.
if added back, assuming no dividend was paid, ptaras should have 78.337 mil.
which means that ptaras cash had increased from 48.059 to 78.337 mil which is an increase of 30.278 mil.
in the same period, ptaras made 48.397 million in earnings.
so in a span of 4 years, ptars made 48.397 mil, nett cash increase only by 30.278 mil.
How?
How would you interpret it?
Me? i think it is actually very good.. however.... personally, i still do not see the accumulation of wealth generated by the companies dabbling in the sharemarket and more so, given the fact that as per its latest earnings, the company's balance sheet shows that it has some 37.3% of its cash in the share market.
hence, I simply do not like it...ahh.. that's just me personal view hor...
the cash is there... return more cash back to the shareholders is my preferred choice...
Very excellent analysis.
I simply do not understand what's the objective of the management for holding so much cash. Maybe the minority shareholder should post this question to the team during AGM.
They get IA to help them invest with the cash. Why? Is the IA 'ka ki lang'? Or are they trying to justify higher director's fee payout?
My view is, when you have no better way to use the cash, just admit it, do something and not through this way which is by playing in the stock market where risk is relatively so much higher than eg. FD.
Juz my view. No more holding any stock. But the cash level is attractive.
Very excellent analysis.
I simply do not understand what's the objective of the management for holding so much cash. Maybe the minority shareholder should post this question to the team during AGM.
They get IA to help them invest with the cash. Why? Is the IA 'ka ki lang'? Or are they trying to justify higher director's fee payout?
My view is, when you have no better way to use the cash, just admit it, do something and not through this way which is by playing in the stock market where risk is relatively so much higher than eg. FD.
Juz my view. No more holding any stock. But the cash level is attractive.
chewy,
all in.. i think this stock ( in terms of stock price) might have potential due to the tremendous increase in earnings... which could see the stock price appreciate in the near future.
but.. depending on the individual... if one is a long term investor.. then the investor should realise that perhaps this stock market investment by ptatas is perhaps not in the best of the shareholders' interest.
which is kinda of normal... since each stock will have some sort of plus and minus issues... and ultimately it depends on the investors' own appetite...
