Thursday 28 Mar 2024
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This article first appeared in The Edge Financial Daily, on September 19, 2016.

 

PBA Holdings Bhd (+ve)

SHARES in PBA Holdings Bhd (fundamental: 2/3, valuation: 2.6/3) closed up 2 sen or 1.7% at RM1.17 last Thursday, with 2.59 million shares done, far exceeding its 200-day average volume of 245,248 shares.

PBA is the holding company for Perbadanan Bekalan Air Pulau Pinang Sdn Bhd. The company supplies water and is the licensed water operator for the state of Penang.

For the first half of its financial year ended June 30, 2016 (1HFY16) PBA’s net profit rose 37.6% to RM22.25 million from RM16.17 million a year ago. Revenue for 1HFY16 was 18.1% higher at RM164.83 million from RM139.6 million a year ago.

The company’s cash balance as at 1HFY16 stood at RM69.13 million, while total loans and borrowings stood at RM55.52 million.

At the current share price, PBA Holdings is trading at 8.79 times its trailing 12-month price-earnings and at 0.5 times its book value.

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