Pintaras - buckling the trend

[i4value]

In the early years of Pintaras, the bulk of its revenue came from Malaysia. But over the past decade, it came from Singapore.

As such, its revenue over the past few years have been growing whereas those of the Bursa construction sector declined. Refer to "Making sense of the Bursa Malaysia construction sector"

The Malaysian construction sector suffered because of the slow down in the in property sector. However, this sector is turning around. Refer to my thread on the Malaysian property sector.

So I would think that the Malaysian construction sector would be the first beneficiary of this turnaround. Does it mean that Pintaras performance would be much better going forward as there will now be a larger contribution from Malaysia?

[i4value]

Pintaras Jaya incurred a loss in 2023 but this is due to a “perfect storm” of lower revenue and higher costs. Its performance in Malaysia over the past few years was affected by the slowdown in the property and construction sector. As such the bulk of the contribution over the past few years has been from its Singapore operations.



As the leading foundation and sub-structure contractor in Malaysia, I expect the
Group to rebuild the Malaysian business. When this happens, I expect the market to re-rate it.

For more insights refer to page 22 of INVEST