TRC UNDERVALUED???

changccs

各位对这只股有何看法？听说这间公司将会拿到Phase 1 LRT project. Undervalued?

dreamer55

我对TRC的看法：

1. 公司现金强稳，扣除债务，每股有约80sen的现金。

2. 背景：这是其中一土著背景的A级承包商，在东西马都有良好的工程记录。公司近期也企图打开澳洲的市场。

3. 公司股价低靡，主要是前一年来标获的工程不多，影响盈利收入，所以证卷行分析员纷纷喊售出。我一直以为，公司减少投标活动，是准备一些大型的工程。当然，这是我个人的看法。

4. 汶莱子公司正在和汶莱政府商讨建造储油库的工程。若成功，这不只是一个很大的工程，也经开启 oil & gas 的通道。我觉得这才是真正的戏肉。

5. LRT 工程不是稳拿的，还有其他土著公司竞争，虽然 TRC 的机会略高一筹。近期的攀升，与此有关。若是拿不到，股价有往下掉的风险。

6. 考虑买进这支股票，一定要考虑他的现金和盈利潜能，因为这是你的风险管理。个人以为，前些时候股价压到一块，但就从没有低过一块，这应该是这支股非常强劲的支持。当然以目前 1.4 来看，再回到 1.0 的机会是很小很小的。若要我社个目标价，我会说若标获 LRT 工程，至少 1.6；若成功获得汶莱工程，则上看 2.0 或更高。风险承担高的股友，或者可以看看他的 warrant。

changccs

good analysis !

yewchang

都已经从 RM1 升到 RM1.4 了才来分析讨论，
怎么 Year Low RM1 不久前没人提起？
没人敢买吗？

aabbabc

有消息说他的LRT很恨有机会喔。。about十五亿的工程。而且这两个星期就会有消息了。。。 相信到时候一定可以上到RM1.80以上。

aabbabc

標價低獲推薦
傳TRC獲輕快鐵延長工程
報導：何燕羚

（吉隆坡19 日訊）消息說，TRC（TRC，5054，主要板建築）獲國家基建公司（SPNB）親自向財政部推薦，很大可能打敗UEM建築（UEM Builders）最終獲得格拉那再也輕快鐵（LRT）延長工程計劃，若屬實，將是該公司的最大型工程，訂單值將膨脹4倍達到19億令吉！

僑豐投資研究分析員吳維斌今日在分析報告上說：“並不排除TRC最終跑出的可能，我們的消息指出，該公司呈上最低價格競標書。”

財經報章《The Edge》今日引述消息說，TRC和UEM建築是角逐格拉那再也輕快鐵延長工程的最后2家公司，惟前者獲得國家基建公司向財政部推薦，以成為該工程的主要建築商。

黃氏星展維克斯證券研究指出，工程總值至少10億至15億令吉。

若TRC成功奪標，將是該公司歷年來最大型工程。分析員預計，訂單值將因此激增4倍，從4億漲至19億令吉。

格拉那再也工程料先動工

包括輕快鐵延長工程在內，TRC正競標總值33億令吉的工程，蓋括砂拉越再生能源經濟走廊（SCORE，10億令吉）和東海岸經濟特區（ECER，2億令吉）基建工程。

第十大馬計劃下公佈的輕快鐵延長工程，分為格拉那再也和安邦路線，有望在2012年底竣工，兩項輕快鐵提升計劃共耗資70億令吉。

吳維斌說，格拉那再也延伸工程料先展開，預計年底動工。
& lt; p>他指出，根據消息所得，怡保工程（IJM，3336，主要板建築）是安邦線有機會跑出的建築商之一，但高峰控股（BPURI，5932，主要板建築）由于競標價格具競爭力 ，成為該公司最強競爭對手。

格拉那再也線延伸計劃共長17公里，設有13個新站。安邦線延伸計劃則長達17.7公里，也設有13個新站。

股價一度揚11仙

巨額工程或即將到手，TRC股價唱紅，今日一度攀高11仙。

TRC今早以1.46令吉，揚升8仙報開，股價一路走高，交易2分鐘即站上全天最高價位1.49令吉。

休市時，TRC報1.46令吉，起8仙，成交量達172萬4500股。

該公司上市以來，最高閉市價為3.34令吉，于2003年10月29日創下；去年1月8日寫下最低作價，報93.5仙。

黃氏星展維克斯證券研分析員說，提高TRC 2010至2012財年新訂單預測值到2億5000萬令吉至8億令吉，賺幅介于7%至8%，故上調每股盈利8%至12%。

TRC資產負債表強穩，每股淨現金達79仙。

前景及財務表現亮眼，該證券研究調高投資評級至“買進”，原是全面反映價值（fully valued），目標價格從94仙大幅調漲至1.85令吉。
閉市時，TRC收1.39令吉，揚1仙，共有250萬1700股易手。

aabbabc

Energy Minister updates status of PMB
Syazwan Sadikin
BANDAR SERI BEGAWAN

Tuesday, March 23, 2010
THE Pulau Muara Besar (PMB) Masterplan is currently waiting to be presented and approved by relevant authorities following the completion of plans by consultants, said the Minister of Energy at the Prime Minister's Office.........
Plans for an oil refinery is also underway, led by PetroBru with the support of BEDB, said the minister in addressing Dato Paduka Hj Idris Hj Abas's concerns over the status of the project.

"It is one foreign direct investment which will be carried out by PetroBru and they have plans to bring in raw materials internationally and this issue of oil refinery, I believe this has been included in the PMB masterplan prepared by the consultant," said Pehin Dato Hj Mohammad.............

aabbabc

BEDB在文莱举行的第二次石油炼油厂研究结果简报
Bandar Seri Begawan, Thursday 20 August 2009.

In its effort to support the development of downstream industry in Brunei, the BEDB (Brunei Economic Development Board) today hosted a briefing on the findings of a detailed feasibility study of an integrated oil refinery project to be developed on Pulau Muara Besar (PMB).

The detailed study, which was conducted by a leading international consultant for energy companies, Wood Mackenzie, was aimed at providing more concrete findings to further validate the economic viability of the project in Brunei. The briefing was delivered by the Head of Asia-Pacific Downstream Oil of Wood Mackenzie, Mr Satvinder Roopra.

Present to welcome the briefing was the Acting Chairman of the BEDB, Dato Paduka Timothy Ong. In his welcoming remarks, Dato Timothy said that the “BEDB would always welcome initiatives aimed at creating new centres of growth and new economic opportunities that would bring significant benefits to the country and its people.” He further said that the potential establishment of an integrated oil refinery and storage facility in Brunei “would provide another unique opportunity in the country’s effort to extend the oil and gas industry chain particulary in the development of downstream industry.”

Also present to give an introductory background to the project was Mohd Zaman Noordin, the Chief Executive Officer of PetroBru, a private-owned Brunei company who is leading the refinery project. In reference to the project, Mohd Zaman said that it was aimed at “supporting the Government’s drive in the development of petrochemical industry and at the same time fulfilling the growing demand for refinery products in both the regional and global markets.”

Based upon the study’s assessment of regional target markets where the demand for refinery products is forecast to grow, Brunei is well positioned to supply the regional market deficits by setting up an export-oriented refinery facility. This is because Brunei is strategically located on the East-West trade route which provides an ideal location for such facility, targeting the increasing demand for energy security especially in the North Asia market.

The oil refinery facility on Pulau Muara Besar, which is expected to attract an investment of approximately US$4.3 billion, is targeted to begin construction as early as 2013, subject to the approval of His Majesty’s Government. It will produce a refinery capacity of 200,000 barrels per day with feedstock based on 100% imported crude i.e. 50% Arab Light and 50% Seria Light. Its target markets include China, Vietnam, Philippines, Malaysia and Indonesia. The project will not only complement the development of PMB as a dynamic logistics and industrial hub but will also bring significant economic benefits to the country including employment opportunities, human resource development, business opportunities for local SMEs as well as spillover development in areas such as retail and tourism sectors.
The briefing, which was held at the Sheraton Utama Hotel, concluded with a Q&A and an open forum discussion. It was also attended by the Deputy Minister of Industry & Primary Resources and senior government officials from Prime Minister’s Office, Office of the Minister of Energy, Petroleum Unit, Department of Electrical Services, Port, Marine as well as key members of the local business community.

aabbabc

看了以上的文章， 本人觉得这间公司前途无量。。再加上最近东马又有很多project要发放，以这间公司在东马的实力，很有可能得标。还有西马的东部走廊计划也开始发放了，也很有希望得标。

aabbabc

看了dreamer55 的分析，还有它的财报，和文章， 觉得这间公司严重被低估了。。。

doctor_love

TRC价位能去到RM1.92

etking

回复 11# doctor_lov

为何能上到1.92呢？有任何见解吗？

aabbabc

听说下星期会有消息喔。。。。。。。股价开始动了。。。今天进场了 TRC-WA RM0.60 300lot... 目标RM1.00

aabbabc

TRC has the potential to trend higher in the short term," says Lee. Stock last +0.7% at MYR1.40. Resistance eyed at MYR1.49, then MYR1.60. On downside, support at MYR1.39, then MYR1.19; stop-loss at MYR1.17. (kwan-por.lee@dowjones.com)

doctor_love

回复  doctor_lov

为何能上到1.92呢？有任何见解吗？
etking 发表于 9-11-2010 10:11 PM

明年能上到1.92

aabbabc

载至30/6/2010 这间公司的现金有RM1。5 亿， 也就是说每股有RM0.82 的现金。
如果说得到LRT 十亿project的话，以10%赚副来讲的话， 就净赚一亿了，再除以每股的话就是RM0.52. 所以这间公司在两年过后的净现金就有可能达到每股RM1.34 了。
以今天的毕市价RM1.44 是非常值得投资的，

aabbabc

载至30/6/2010 这间公司的现金有RM1。5 亿， 也就是说每股有RM0.82 的现金。
如果说得到LRT 十亿project的话，以10%赚副来讲的话， 就净赚一亿了，再除以每股的话就是RM0.52. 所以这间公司在两年过后的净现金就有可能达到每股RM1.34 了。
以今天的毕市价RM1.44 是非常值得投资的，

changccs

looks like kena goreng up

dingdongdong

股息又如何呢？？？

aabbabc

之前RM1.00的是后每股一年有 4仙 的股息。。。