鹏发（Ptaras，9598，主板建筑股）成立于1989年11月。创办人为邱汉强博士（译音）是一名土木和地质工程师。邱博士以其对建筑领域的广泛经验和专业知识，迅速带领鹏发一跃成为一家信誉卓越和优质的建筑公司，并同时为马来西亚最大的专业打桩公司之一。
邱博士也是该公司董事经理兼大股，持有公司约57%股权。鹏发机构于1994年12月在大马股票交易所第二板上市，接着在1998年5月成功转至主板交易。
http://www.investalks.com/forum/forum.php?mod=viewthread&tid=1238&highlight=pintaras Jan.2010 - FY2010
Pintaras Jaya (Pintaras) is a piling specialist. Leveraging on its core competence in piling, it also extends its range of services to the provision of foundation systems, earth retaining systems, substructures, basements and earthworks, and to a lesser extent, the more general building and civil engineering works. Among the more notable projects it had completed are piling and related works for the Customs, Immigration & Quarantine (CIQ) complex and JB Sentral in Johor Bahru, various high-end residential projects in Mont’ Kiara and in the heart of Kuala Lumpur as well as the Guthrie Corridor Expressway (see Figure 1). It has a small but profitable manufacturing outfit that produces industrial metal containers for the paint, chemical, lacquer, lubricant, confectionery and food industries. Starting out as a private company in 1989, Pintaras managed to build up within five years sufficient profit track record for a listing on the then Second Board of the Kuala Lumpur Stock Exchange in 1994, and within another four years for a listing transfer to the Main Board in 1998.
(RHB research July.2013 - FY2014)
Business operation
PINTARAS has categorized its core businesses into two groupings - Piling, Civil Engineering & Construction Works (Piling) and Manufacturing.
The Piling segment, in turn, comprises piling & foundation systems; earth retaining systems, sub-structures, basements and earthworks; buildings works and civil engineering works. Unlike most listed contractors, PTARAS' expertise is in the design, construction and installation of piling and foundation systems. Hence, the size of the order book is smaller than most contractors but the margin has been persistently fatter.
The operating margin of the Piling arm which soared to 35.6% in FY13 further inched upward in FY14, largely boosting the EPS to a record high. The management has earlier revealed that the division's primary strength is the ability to propose suitable and economical designs which minimizes construction time. It also undertakes most assigments with minimal sub-contracting to third parties.
In view of the remarkable profit strength of the Piling arm, the
profit from the Manufacturing arm has shrunk considerably to
10% of the group's total in FY14. Wholly-owned Prima Packaging
spearheads the manufacturing division, producing more than 8m
metal pails and cans of various sizes annually to a broad range of
industries (paint, chemical, lacquer, motor oil and food). Given the
sharply reduced share of contribution to the group's earnings in
FY14, the Piling arm would play an even more prominent role
dictating the earnings trend ahead.
Pintaras Jaya is a construction holding company that undertakes piling contracts, civil engineering, and building construction works.The company designs, constructs, and installs piling and foundation systems, such as cast-in-place bored piles, driven piles, micropiles, and hand-dug caissons. It also involved in the design and construction of earth retaining systems including construction of building basements; and stabilization of earth slopes for road works and general earthworks. What escapes a lot of people is the company has diversified successfully into metal can manufacturing and plastic packaging.
http://malaysiafinance.blogspot.com/2010/01/why-i-like-pintaras-jaya.html Jan.2010 - FY2010
Pintaras
(i) is among the nation's largest companies involved in piling, earthworks and substructure works
(ii) is a reputable company that has been involved in iconic projects such as Pavilion, St. Regis, Marc Residence, Setia Walk, etc;
(iii) has been profitable every year since FY95, except in FY01
(OSK research Sept.2012 - FY2013)
身 为打桩和地质技术专家，鹏发是首家可以在架构工程开始前，在工地为建筑物进行地基工程的建筑公司。鹏发的专业领域涵盖：（一）打桩和地基础系统、（二）挡 土墙系统、地下工程、地基和土木工程；（三）建筑工程；（四）土木工程。根据截至2010年6月底财政年首季的业绩表现，打桩、土木和建筑工程分别为其营 业额和税前盈利贡献67%和87%，其余的则分别由制造业所贡献。
鹏发的业务性质使到它不能累积庞大的工程合约，因为它的工程合约都是属于短期性质的，介于3个月到9个月之间。鹏发所完成的工程当中包括：打桩、地基、隔水墙和地下工程、建筑和工厂计划、桥梁和土木工程、挡土墙和斜度稳定工程。
鹏发子公司Prima包装私人有限公司 http://primapac.com.my ，是马来西亚领先的金属容器生产商。该公司每年生产桶和罐供给大马、印度和东协国家的客户。该公司的客户主要来自油漆、化学、漆器和润滑剂领域，目前更扩大至来自甜品和食品工业的领域。另外，鹏发也透过其子公司Corplast包装工业私人有限公司生产瓦楞塑胶片。这包装产品的注册商标为Corruboard。瓦楞塑胶片是做为电子、汽车、农业、医药、食品和建筑领域上的包装原料。http://www.corplast.com/products.html
http://www.investalks.com/forum/forum.php?mod=viewthread&tid=1238&highlight=pintaras Jan.2010 - FY2010
Pintaras Jaya的建筑工程部门包括：-
1. 设计和护桩系统系统
2. 混凝土土挡土墙，分结构，建筑地下室
3. 土木工程
4. 建筑工程
打桩系统
土挡墙系统及小组结构和地下室
土木工程
建筑工程
Pintaras生产部的盈利在2008年金融风暴时依然为集团带来稳定的盈利，生产部共有两家子公司，那就是它在1999年收购的Prima Packaging Sdn. Bhd.与2004年收购的Corplast Packaging Industries Sdn Bhd。
其中Prima Packaging的表现尤为出色，Prima Packaging的主要业务是生产金属容器包括桶，罐以供国内外工业所需。产品主要出口至新加坡，缅甸，越南，菲律宾和印度。2009年Ptaras年报中指出它2009年的营业额稍微上扬至37.5mil(Corpast 营业额 = 41mil – 37.5mil = 3.5mil)，可惜它的盈利却因原料涨价而减少了约10%。
从biz segment中得知生产部2009年总盈利为5mil(年报指出Corplast小亏)，所以我们可以粗略的算出Prima Packaging的赚幅
Revenue = 37.5mil
Profit = 5 mil
Profit Margin = 13.33%
http://www.investalks.com/forum/forum.php?mod=viewthread&tid=1238&highlight=pintaras #3 糊涂 Sept.2009 - FY2010
該公司是大馬涉及打樁、土木工作及下部結構的最大業者之一，曾參與多項大型工程，從1995年起一直錄得正面的業績表現，除了2001年。
http://biz.sinchew.com.my/node/65152 Sept.2012 - FY2013
Apart from good piling rates on chronic capacity constraints in the market, Pintaras’ margins are boosted by its full range of piling machines, tools and accessories – which reduces the need for outsourcing – and its in-depth knowledge of ground conditions that allows it to pick and choose the best jobs to bid, and putting in the winning bids for them.
(RHB research July.2013 - FY2014)
Typically, piling and related works make up 5%-
10% of total project value. It could be higher, ie 10%-20% for certain infrastructure
such as bridges, as well as if the ground conditions are challenging.
(RHB research July.2013 - FY2014)
鹏发的打桩地基工程属于短期性质，通常是3-9个月，好处是建筑成本容易计算，少有失误，打桩是建筑工程中最早执行之工，收账较为顺利。此外，公司客户大部份是大财团，少有烂账。这些因素使得鹏发在建筑领域的赚率特别高，如2010财政年达30%。
http://www.nanyang.com/node/555871?tid=902 Aug.2013 - FY2014
PTARAS ventured into the manufacturing industry back in 1999 by acquiring Prima Packaging Sdn Bhd which manufactures small cans and tight head pails. In 2004, its manufacturing division was further expanded when it acquired Corplast Packaging Industries Sdn Bhd. Currently, its manufacturing division contributes 21% of revenue.
(Kenanga research Aug.2013 - FY2014)
The local piling sector has already enjoyed a cyclical upturn over the last one to two
years, mainly backed by the property and infrastructure boom. The property boom
has been very broad-based spanning over all sub-segments including residential,
commercial and office. Given the scarcity of land in prime locations, these property
projects are predominantly high-rise, which means they require more extensive piling.
Also, as land with solid ground conditions in prime locations runs out, more property
projects are now being built on filled/reclaimed land (including the previous swamp
land or even dump sites). That, again, means more extensive piling is needed.
Large-scale infrastructure projects have already benefited the local piling sector since
one to two years ago when the MYR7bn Kelana Jaya and Ampang LRT Line
Extension project got off the ground in a major way. We understand that on the back
of an acute shortage of piling capacity in the market, some viaduct main contractors resorted to buying their own bored-piling machines and on-leasing them to their
bored-piling subcontractors in order to complete the jobs. The situation got worse
when the MYR23bn Line 1 or Sg Buloh-Kajang (SBK) Line of the Klang Valley MRT
project took off six to nine months ago, resulting in another leg-up in bored-piling
machine rental rates.
鹏发的打桩地基工程属于短期性质，通常是3-9个月，好处是建筑成本容易计算，少有失误，打桩是建筑工程中最早执行之工，收账较为顺利。此外，公司客户大部份是大财团，少有烂账。这些因素使得鹏发在建筑领域的赚率特别高，如2010财政年达30%。
http://www.nanyang.com/node/555871?tid=902 Aug.2013 - FY2014
PTARAS ventured into the manufacturing industry back in 1999 by acquiring Prima Packaging Sdn Bhd which manufactures small cans and tight head pails. In 2004, its manufacturing division was further expanded when it acquired Corplast Packaging Industries Sdn Bhd. Currently, its manufacturing division contributes 21% of revenue.
(Kenanga research Aug.2013 - FY2014)
目前，公司手持现金超过1亿5000万令吉，以“正值增长阶段”来形容鹏发目前状况的丘汉强披露，除了作为营运资本以及股息派发用途外，也不排除并购用途。
据悉，这笔庞大现金不只是单纯存在银行作为储备金，赚取微薄定存利息；鹏发自1999年开始为现金增值，将额外资金交由基金经理打理。从大马交易所的记录显示，该公司委任PHEIM资产管理及SINGULAR资产管理有限公司为投资经理，丘汉强在股东大会中表示，这笔投资的回酬每年平均约为10%。
http://www.nanyang.com/node/571469?tid=687 Oct.2013 - FY2014
该公司有21%营业额来自制造业务，以金属容器生产为主，当中有10%收入来自海外贡献，并计划2年内提高至20%。无论如何，这项业务应是公司多元化策略下的布局，这也反映出该公司相当注重风险管理。
http://www.nanyang.com/node/571469?tid=687 Oct.2013 - FY2014
该公司有21%营业额来自制造业务，以金属容器生产为主，当中有10%收入来自海外贡献，并计划2年内提高至20%。无论如何，这项业务应是公司多元化策略下的布局，这也反映出该公司相当注重风险管理。
http://www.nanyang.com/node/571469?tid=687 Oct.2013 - FY2014
Typically, piling
and related works make up 5-10% of total project value. It could be
higher, ie 10-20% of total project value for certain infrastructure such as
bridges, or if the ground conditions are inferior.
Pintaras is one of the top 4-5 piling companies in Malaysia, each control a market share of 5-10%.
(RHB research Nov.2013 - FY2014)
Pintaras is one of the top 4-5 piling companies in Malaysia, each control a market share of 5-10%.
虽然鹏发控股享有10%市场份额，但打桩工业并未由任何单一业者所支配。
http://www.kwongwah.com.my/news/2014/05/18/99.html May.2014 - FY2014
To maximise returns, some RM50mil of its funds are managed by professional fund managers.
“We started this approach about 15 years ago when fixed deposit rates were low. It has turned well for us thus far so we will continue to do it until we need the money,” he explains.
http://www.thestar.com.my/Business/Business-News/2014/05/31/Last-piling-standing-firm-Pintaras-Jaya-has-outlasted-its-listed-piling-rivals-from-the-mid90s/?style=biz May.2014 - FY2014
Traditionally, a huge chunk of the piling specialist’s revenue is derived from the private sector primarily for high rise residential and commercial buildings.
However, he notes that jobs from the public sector and government-linked project are beginning to contribute much more significantly to its topline, which now stands at 40%.
He says that labour and machineries make up close to 50% of its cost while raw materials made up the other half. He opines that steel prices are stable with a downward bias while cement prices are trending higher due to the hike in gas prices.
The rise in energy cost is also pressuring its cost but construction analysts believe the industry could pass on part of its cost to its clients due to a shortage in piling capacity.
http://www.thestar.com.my/Business/Business-News/2014/05/31/Last-piling-standing-firm-Pintaras-Jaya-has-outlasted-its-listed-piling-rivals-from-the-mid90s/?style=biz May.2014 - FY2014
To maximise returns, some RM50mil of its funds are managed by professional fund managers.
“We started this approach about 15 years ago when fixed deposit rates were low. It has turned well for us thus far so we will continue to do it until we need the money,” he explains.
http://www.thestar.com.my/Business/Business-News/2014/05/31/Last-piling-standing-firm-Pintaras-Jaya-has-outlasted-its-listed-piling-rivals-from-the-mid90s/?style=biz May.2014 - FY2014
Traditionally, a huge chunk of the piling specialist’s revenue is derived from the private sector primarily for high rise residential and commercial buildings.
However, he notes that jobs from the public sector and government-linked project are beginning to contribute much more significantly to its topline, which now stands at 40%.
He says that labour and machineries make up close to 50% of its cost while raw materials made up the other half. He opines that steel prices are stable with a downward bias while cement prices are trending higher due to the hike in gas prices.
The rise in energy cost is also pressuring its cost but construction analysts believe the industry could pass on part of its cost to its clients due to a shortage in piling capacity.
http://www.thestar.com.my/Business/Business-News/2014/05/31/Last-piling-standing-firm-Pintaras-Jaya-has-outlasted-its-listed-piling-rivals-from-the-mid90s/?style=biz May.2014 - FY2014
Piling, construction. Piling and foundation activity
is the main contributor to the group’s earnings, at
79% of its FY12 revenue.
Manufacturing. PTARAS ventured into the manufacturing industry back in 1999 by acquiring Prima Packaging Sdn Bhd which manufactures small cans and tight head pails. In 2004, its manufacturing division was further expanded when it acquired Corplast Packaging Industries Sdn Bhd. The manufacturing division contributes 21% of revenue.
(Kenanga July.2014 - FY2015)
Manufacturing. PTARAS ventured into the manufacturing industry back in 1999 by acquiring Prima Packaging Sdn Bhd which manufactures small cans and tight head pails. In 2004, its manufacturing division was further expanded when it acquired Corplast Packaging Industries Sdn Bhd. The manufacturing division contributes 21% of revenue.
(Kenanga July.2014 - FY2015)
MANAGEMENT
At the helm of the company is founder, chairman and managing
director Dr Chiu Hong Keong, who holds a Bachelor of Civil Engineering degree (First
Class Honours) from the University of Auckland, New Zealand and a Doctorate of
Philosophy degree in Engineering from Monash University, Australia. Prior to starting
Pintaras, he had a professional career as engineer with the Victorian Country Roads
Board of Australia, Pilecon Engineering and Ho Hup Construction Company.
(RHB research July.2013 - FY2014)
(RHB research July.2013 - FY2014)
Dr Chiu Hong Keong, a Malaysian, aged 54 is the founder member of Pintaras Jaya Berhad and was appointed as the Managing Director of the Company since 23 November 1989 and elected as the Chairman of the Board on 18 October 1994. He is a member of the Risk Management Committee. He graduated with a Bachelor of Civil Engineering degree (1st Class Honours) from the University of Auckland, New Zealand in 1977 and obtained his Doctorate of Philosophy degree in Engineering from Monash University, Australia in 1982. He worked as a Geotechnical Engineer with the Victorian Country Roads Board of Australia for a brief stint before returning to Malaysia to join Pilecon Engineering Bhd in 1982 as a Geotechnical Engineer. In 1983, he joined Ho Hup Construction Company Sdn Bhd from 1984 until 1989. He holds a total of 45,636,898 shares (direct and indirect) in Pintaras Jaya.
http://malaysiafinance.blogspot.com/2010/01/why-i-like-pintaras-jaya.html Jan.2010 - FY2010
创办人兼董事经理邱汉强表示，该公司希望在年杪前倍增其现有工作流程，因国内将有更多基建计划启动。他强调，长期素质成长将比短暂收益扩张来得更重要。
“我们希望专注于连贯成长。我们将努力为股东们带来持续回馈和建立我们公司的价值。我们已经创下记录并在业绩证明这一点。
也是鹏发控股最大股东，持有58.18%股权的邱汉强，看见了该公司许多的商机。“任何建筑架构需要地基，而我们将会参与。除了产业建筑领域，我们也涉足基本建设和石油与天然气工业。“举例来说，一个石油终站需要许多地基工程。捷运也进行得如火如荼，但现在只有一条轨线。它将会有更多捷运线落实，这将为我们带来商机。”
邱汉强指出：“打桩合约普遍上耗时6至12个月时间完成，因此我们须经常更新我们的订单。”
除了核心活动，鹏发控股也涉及锡制造业，后者于2012财政年为其1亿8570万令吉收益带来约21%贡献。邱汉强说：“整体上，我们的锡制造业务已为我们带来良好回馈。它是一项稳定业务，对我们的贡献已经超越附属收入，而且它未来拥有扩充的潜质。”
在截至2012年12月31日止，鹏发控股拥有净现金达1亿586万令吉，而资产负债表也显示没有借贷。一些市场观察家相信，该公司将可能派发现金予股东们，或利用作其他投资用途。不过，邱汉强认为，鹏发控股应保留有关资金作为未来扩充。“它实际并不是一笔庞大的现金，因我们的建筑业务属于资本密集型。我们需要保留它作为营运资本，及在我们需要新设备扩充我们的产能时，我们将会动用。”“在未来数个月，胥视我们来临的工程，我们可能耗资高达2000万令吉购买新设备。而且，我们已经支付合理股息予股东们。”
http://chinese.cari.com.my/news/news.php?id=377610&link=prev May.2013 - FY2013
过去10年来，大股东牢牢控制着鹏发超过50%，以他们务实且保守的作风，股价是没有飞黄腾达，但公司四平八稳，同时合约不断，大股东的长袖善舞，该记一功。
http://www.nanyang.com/node/535681?tid=462 May.2013 - FY2013
鵬發董事經理丘漢強在股東大會及特大後表示，正在競標20億至30億令吉工程，多數來自私人領域，以柔南依斯干達區域居多。他說，目前鵬發已獲取超過訂單量半數目標，尚有3個月時間有待達標，相信在市場工程帶動下，明年建築工程前景樂觀。
另外，他也希望在5年內擴大公司規模，成為大型岩土工程（Geotechnical）建築股及營業額達10億美元的企業。
針對未來是否脫售製造業務，專注建築工程的問題，丘漢強坦言，如果出現具難以抗拒的“好價格”，會考慮脫售該業務。他說，製造業務還在成長，由於出口市場僅貢獻該業務10%營業額，目前還在尋找拓展海外機會，希望2年內增加營業額貢獻至20%。
對於會如何運用1億5千萬令吉現金，他表示將用於併購、運作資本及派息。“現有業務還在成長階段，需保留現金運作業務及購買器材，暫不考慮設定派息政策。”
至於收購事項，他表示目前還未有特定目標，不過會在現有相關領域需求併購機會，包括製造及工程業務。
http://biz.sinchew.com.my/node/83383?tid=6 Oct.2013 - FY2014
鹏发董事经理丘汉强在出席股东大会以及特别股东大会后，向记者表示，鹏发仍是一个正处增长阶段的公司，需保留相当的资金，作为未来献购设备用途。
他表示持有大笔现金另一好处，是提高供应商以及二手承包商（Subcontractor）信心，为公司带来加分作用。
丘汉强表示，公司愿景是继续扩大规模，以发展成大型的专业岩土工程公司。谈及有关献购议题，丘汉强表示仍在寻觅适合机会，却未有特定目标，但倾向从本身原有业务延伸至相关业务。
对于海外扩展，丘汉强表示国内建筑业务仍在蓬勃增长，旗下建筑业务仍将专注国内市场。
http://www.nanyang.com/node/569931?tid=462 Oct.2013 - FY2014
根据兴业研究的报告，市场高水平的打桩服务不多，加上能提供全面的打桩器材、机器以及配件，促使鹏发的赚幅走高。由于具备全面的设施，该公司没有外包需求，加上已是地基行业的专家，也让该公司具备选择竞标工程的条件。
对于这点，一名小股东透露，丘汉强曾在股东大会中提及对竞标工程的看法，即并非以规模为主，而是能否有能力如期完成工程，以及赚幅能否提振公司的表现为主要考量。丘汉强认为，竞标工程应以稳定和持续度为主要条件，大型工程固然让人垂涎，但同时也引来许多对手竞标，赚幅反而被压缩。因此，该公司旗下订单多以私人领域为主，大型工程仅占10-15%份额。
http://www.nanyang.com/node/571469?tid=687 Oct.2013 - FY2014
对于公司未来方向，丘汉强并没透漏太多细节，但从他打算将公司打造成大型、营收达10亿令吉的专业岩土工程公司口风来看，已透露出他的愿景。
http://www.nanyang.com/node/571469?tid=687 Oct.2013 - FY2014
对于公司未来方向，丘汉强并没透漏太多细节，但从他打算将公司打造成大型、营收达10亿令吉的专业岩土工程公司口风来看，已透露出他的愿景。
http://www.nanyang.com/node/571469?tid=687 Oct.2013 - FY2014
鹏发董事经理丘汉强在接受《南洋商报》专访时表示，目前公司手握约3亿令吉的订单，去年的新订单就超过2亿令吉。
他说，尽管政府缩减大型工程，但仍有部分工程在跑鉴于订单强稳和业务展望乐观，丘汉强为鹏发设下2020年达到5亿令吉营业额的目标。
http://www.nanyang.com/node/620127?tid=462 May.2014 - FY2014
虽然鹏发控股享有10%市场份额，但打桩工业并未由任何单一业者所支配。
邱汉强表示：“看起来打桩领域的设备与承包商并没有像需求一般快速成长。不过，这不意味着这些公司可在无需竞争下赢得合约。
该集团也已设下高目标，这表示它将不会放慢脚步。鹏发控股放眼在2020年之前，达到5亿令吉的全年收益，以及1亿令吉净盈利。
http://www.kwongwah.com.my/news/2014/05/18/99.html May.2014 - FY2014
由于基建和产业繁荣的建筑活动成长，一些人士认为像鹏发控股的公司将可能在循环改变时受挫。
但邱汉强表示，该集团是因为其不过渡杠杆而渡过之前的危机。该集团截至2013年12月31日止坐拥1亿1000万令吉净现金。
他说：“我相信尽管建筑业放缓，它将不会如1997年那么槽糕。当时共有4家上市打桩公司，而现在只剩下我们。”
http://www.kwongwah.com.my/news/2014/05/18/99.html May.2014 - FY2014
For instance, winning the RM74mil contract to carry out foundation works for the 118-storey Warisan Merdeka marks a milestone for the company as it was involved in the construction of an iconic building.
“Clinching the project means a lot to us as it proves that local piling players are able to compete with the multi-national companies,” the low-profile businessman says.Notably, piling works for the country’s tallest building Petronas Twin Towers was awarded to Soletanche Bachy from France.
That said, the success is not without perseverance as the tender process for the job took more than two years.
http://www.thestar.com.my/Business/Business-News/2014/05/31/Last-piling-standing-firm-Pintaras-Jaya-has-outlasted-its-listed-piling-rivals-from-the-mid90s/?style=biz May.2014 - FY2014
While prospects in the industry remains rosy, the shortage of man power and skilled labour is putting a cap on the company’s growth, he quips.
“From 2013 to 2014, the wage hike recorded between 20% and 30%.
“We can buy machineries but we cannot buy ‘ready-made’ skilled workers so we had to train and fast track our existing talent pool to fill in the gap,” he says.
http://www.thestar.com.my/Business/Business-News/2014/05/31/Last-piling-standing-firm-Pintaras-Jaya-has-outlasted-its-listed-piling-rivals-from-the-mid90s/?style=biz May.2014 - FY2014
虽然鹏发控股享有10%市场份额，但打桩工业并未由任何单一业者所支配。
邱汉强表示：“看起来打桩领域的设备与承包商并没有像需求一般快速成长。不过，这不意味着这些公司可在无需竞争下赢得合约。
该集团也已设下高目标，这表示它将不会放慢脚步。鹏发控股放眼在2020年之前，达到5亿令吉的全年收益，以及1亿令吉净盈利。
http://www.kwongwah.com.my/news/2014/05/18/99.html May.2014 - FY2014
由于基建和产业繁荣的建筑活动成长，一些人士认为像鹏发控股的公司将可能在循环改变时受挫。
但邱汉强表示，该集团是因为其不过渡杠杆而渡过之前的危机。该集团截至2013年12月31日止坐拥1亿1000万令吉净现金。
他说：“我相信尽管建筑业放缓，它将不会如1997年那么槽糕。当时共有4家上市打桩公司，而现在只剩下我们。”
http://www.kwongwah.com.my/news/2014/05/18/99.html May.2014 - FY2014
For instance, winning the RM74mil contract to carry out foundation works for the 118-storey Warisan Merdeka marks a milestone for the company as it was involved in the construction of an iconic building.
“Clinching the project means a lot to us as it proves that local piling players are able to compete with the multi-national companies,” the low-profile businessman says.Notably, piling works for the country’s tallest building Petronas Twin Towers was awarded to Soletanche Bachy from France.
That said, the success is not without perseverance as the tender process for the job took more than two years.
http://www.thestar.com.my/Business/Business-News/2014/05/31/Last-piling-standing-firm-Pintaras-Jaya-has-outlasted-its-listed-piling-rivals-from-the-mid90s/?style=biz May.2014 - FY2014
While prospects in the industry remains rosy, the shortage of man power and skilled labour is putting a cap on the company’s growth, he quips.
“From 2013 to 2014, the wage hike recorded between 20% and 30%.
“We can buy machineries but we cannot buy ‘ready-made’ skilled workers so we had to train and fast track our existing talent pool to fill in the gap,” he says.
http://www.thestar.com.my/Business/Business-News/2014/05/31/Last-piling-standing-firm-Pintaras-Jaya-has-outlasted-its-listed-piling-rivals-from-the-mid90s/?style=biz May.2014 - FY2014
鹏发的资产负债表稳健，拥有庞大现金，反映出其财务管理非常谨慎；而公司能够渡过2次金融风暴，也证明了其管理作风行之有效。
丘汉强表示，在爆发1997/1998年金融风暴以前，不少人质疑公司管理财务的方式。
“别人时常问我们，为何不借钱扩展生意，甚至认为，我们野心不足，无法令公司成长。不过，我们更着重于长期发展，而且我相信成绩能够证明执行的策略是对或错。”
在成功度过2次金融风暴之后，市场终于认可公司经营方式。
他认为，成功度过这些低迷周期，让公司变得更强稳。
“我认为，一家公司最重要就是能够在市场上生存，因为有能力在环境变好时捉住商机。”
此外，他对过去的经验侃侃而谈。
在2007年，获知市场在讨论捷运工程，而公司也看准商机，扩展公司产能作好准备。
他说，现在看回过去，市场的发展符合预期，显然当时做对决定。
他解释，公司以较长期发展为前提，即使结果不如预期，也不会有损失，因所购买的设备也能够应付未来之需。“由于我们不是以借贷方式营运，所以我们能够看长期。我们以现金购买设备，所以不一定要立即获得回酬，偿还贷款。” 截至3月31日，鹏发拥有1亿470万1000令吉的现金。
丘汉强表示，为了避免借贷，公司必须保留部分的现金，用作营运资本及资本开销。
“有钱在手的感觉很好，这不仅让我们对未来营运放心，更提高二手承包商（Subcontractor）、供应商及顾客对公司的信心。”此外，也让公司有“子弹”收购。他说：“我们无法预知商机何时出现，手握现金让公司能够快人一步。”
丘汉强对股价走高感到开心，这意味着市场已认可公司这么多年的努力。“我们拥有25年的强劲纪录，所以对于股价升高，我并不感到意外。”不过，他认为，这不会改变公司的营运模式。
接下来，公司会更关注于发展业务及加强品牌，为股东创造更大的财富。他认为，如果公司能够持续发展，相信股价表现将与公司业绩表现同步。不过，最终仍胥视于全球经济情况及大马的营运环境。
http://www.nanyang.com/node/628662?tid=687 June.2014 - FY2015
"Although our tender book value has reduced and the number of construction starts appears lesser, particularly in the Iskandar region, the construction industry as a whole remains robust on the back of strong construction activities from the private and public sectors," it said.
"The board expects labour and material costs to continue to escalate which may have an impact on our profitability," it added.
http://www.theedgemarkets.com/my/article/pintaras-jaya-1q-net-profit-92-rm1151m Nov.2014 - FY2015
虽然股票数额增加，公司规模变大，但是管理层会积极扩展公司。“我不能说满意公司目前的规模，但我认为还有很大的成长空间。”
http://www.nanyang.com/node/628662?tid=687 June.2014 - FY2015
计划在今年中上市大马的亿钢控股（Econpile），将成为国内第二家的打桩及地基工程服务的挂牌公司。不过，丘汉强却不担心这会分散投资者对鹏发的注意力。
他表示，其实鹏发在1994年上市时，国内已有4、5家挂牌的打桩公司，其中包括最后一家在2010年除牌的保强工程（Pilecon）。
不过，经过两次金融风暴，市场上最后仅剩鹏发一家上市的打桩公司。
因此，现在多一家在相同领域的上市公司，他并不感到压力，且认为对公司没有影响。同时，多一家上市公司也让投资者能够比较价值，这对公司是一件好事。
“我们有良好的纪录，所以无需担心。此外，我们已在市场上设下一定的期望，反而是新上市公司必须努力达到这些期望。”
http://www.nanyang.com/node/628662?tid=687 June.2014 - FY2015
丘汉强表示，市场竞争一直都存在，与1997年风暴以前没有很大的分别。
目前，市场上有4、5家主要打桩业者。此外，还有其他外资公司逐步进军大马，分别有新加坡、法国、中国等商家。同时，不少国内业者也开始崛起。
“不过，我认为，今时今日的鹏发比以前更强大。虽然不能说我们不担心市场竞争，但是我相信，公司有竞争的能力。”
他补充，自1989年创办至现在，已有多年的历史，无论是专业技术、纪录、财务背景及名声，公司样样具备。此外，也拥有大型及最新的设备，这让公司能够进行各式各样的工程。
他强调：“我们有这些设备及人力，相反的，竞争对手不一定有这么全面的优势。”
http://www.nanyang.com/node/628662?tid=687 June.2014 - FY2015
丘汉强鲜少接受媒体访问，为人相当低调，甚至不愿向大众公开其庐山真面目。他不把功劳归功于自己，反而不断地强调员工的重要性。
他对记者说：“相比于把焦点放在我身上，我更希望市场关注在公司及员工。虽然我是鹏发的领航者，但我认为，员工更重要，因为他们协助我们一起推动公司成长，贡献非常大！”
对于继承计划，他表示，一直以来的概念，都是由专业经理管理公司，不一定要由孩子继承。
他强调，只要有能力，员工都能升到更高的职位，甚至的是总执行长及董事。
因此，公司才推出雇员认股计划，回馈及留住员工。同时，也会不断培训员工，让他们有晋升的机会。“我们的目标就是确保他们获得平等的机会，且提供培训及指导，让他们能够向上爬。”
他强调，股东最重要就是让公司持续经营，否则所持有的股权都会失去价值。
根据年报显示，儿子丘伟文在2011年加入公司，目前是执行董事。丘汉强表示，并不一定要孩子在公司工作。不过，基于孩子未来将会成为公司的大股东，所以期望他们至少对公司基本工作有一定的了解。
http://www.nanyang.com/node/628662?tid=687 June.2014 - FY2015
丘汉强今年59岁，穿着朴素，一如他低调的作风。
在整个专访过程中，谈吐大方，且对公司充满信心，未显老态。创办鹏发之前，他于土木工程领域就已有很丰富的学历及背景。
1977年，他毕业于纽西兰奥克兰大学，并取得土木工程学士学位的一级荣誉。之后，他更在1982年於澳洲的莫纳斯（Monash）大学取得工程哲学博士学位。
在回到大马之前，他曾就业于澳洲交通部，担任其土力工程师。之后，他回到大马，在1982年加入保强工程（Pilecon）公司，为一名土力工程师。
1983年，他加入合和建筑私人有限公司直到1989年。
基于他对这领域的热爱，成功把自己创办的公司，发展到目前的规模。他说：“这就是我为何这么多年仍选择坚持，持续扩大公司的原因。”他表示，其学历及工作经验，让他能够在这领域发挥，正所谓：“学以致用”。
http://www.nanyang.com/node/628662?tid=687 June.2014 - FY2015
Asked if the group will be going into any mergers or acquisitions to expand its business, Chiu said Pintaras had mainly focused on growing organically. “It is unlikely that we would acquire another piling company. If we can grow our own business ourselves, it makes no sense to acquire another piling company. "Our effort is concentrated in growing our own business,” he said.
He said Pintaras was targeting to double its current revenue by the year 2020, and hopes to be among the billion-ringgit capitalisation companies listed on Bursa Malaysia.
http://www.theedgemarkets.com/my/article/pintaras-targets-15-net-profit-growth-fy15-md Oct.2014 - FY2015
早前鹏发子公司－ －Pintaras Geotechnics私人有限公司获颁独立遗產大厦的地基工程合约，总值7400万令吉。该118层大楼完成后，將成为我国最高建筑物。
一名向出席该大会的小股东向《东方財经》表示，在场的小股东对该项工程表示关注，因担心该公司没有足够的专才和技术；然而，丘汉强向小股东解释说，该公司已投入5000万令吉用于添购建设机械，而且有足够的技术承建这项工程。
http://cnews.cari.com.my/news.php?id=672988 Oct.2014 - FY2015一名向出席该大会的小股东向《东方財经》表示，在场的小股东对该项工程表示关注，因担心该公司没有足够的专才和技术；然而，丘汉强向小股东解释说，该公司已投入5000万令吉用于添购建设机械，而且有足够的技术承建这项工程。
"Although our tender book value has reduced and the number of construction starts appears lesser, particularly in the Iskandar region, the construction industry as a whole remains robust on the back of strong construction activities from the private and public sectors," it said.
"The board expects labour and material costs to continue to escalate which may have an impact on our profitability," it added.
http://www.theedgemarkets.com/my/article/pintaras-jaya-1q-net-profit-92-rm1151m Nov.2014 - FY2015
談到公司現財政年未來2季的業務前景時，該公司指出，隨著原油價格急挫50%，大馬經濟強勁成長的展望料將隨著消逝。
該公司認為，加上政府將在今年4月1日開始實施消費稅，使該公司董事部認為2015年財政年未來2季的營運環境，將是艱辛及充滿挑戰。
http://biz.sinchew.com.my/node/112700 Mar.2015 - FY2015
也是鹏发控股最大股东，持有58.18%股权的邱汉强，看见了该公司许多的商机。“任何建筑架构需要地基，而我们将会参与。除了产业建筑领域，我们也涉足基本建设和石油与天然气工业。“举例来说，一个石油终站需要许多地基工程。捷运也进行得如火如荼，但现在只有一条轨线。它将会有更多捷运线落实，这将为我们带来商机。”
该公司今年迄今已赢得4项新合约，包括成荣集团有限公司（MUDAJYA，5085，建筑组）的2006万令吉合约，进行万达购物中心和The Curve捷运站的打桩工程。这将提高鹏发控股的现有订单至约1亿5000万令吉，而管理层的目标是于今年杪倍增至3亿令吉，这个数字也远超出其现有市值。
邱汉强指出：“打桩合约普遍上耗时6至12个月时间完成，因此我们须经常更新我们的订单。”
兴业投资研究行指出，鹏发控股是打桩与地质工程领域少数著名业者之一。鉴于在巴生谷以及依斯干达区的充裕计划，该公司将不会在促进其订单时面对问题。在马来西亚，Bauer、腾发控股和双威地质工程是国产和著名品牌。随着更多高档建筑推介，争取合约将不会面对困难。
分析师透露：“捷运和依斯干达高档计划以及巴生谷一些著名计划，如敦拉萨交易所和新街场机场，将需要许多打桩和地质工程。”
除了核心活动，鹏发控股也涉及锡制造业，后者于2012财政年为其1亿8570万令吉收益带来约21%贡献。邱汉强说：“整体上，我们的锡制造业务已为我们带来良好回馈。它是一项稳定业务，对我们的贡献已经超越附属收入，而且它未来拥有扩充的潜质。”
http://chinese.cari.com.my/news/news.php?id=377610&link=prev May.2013 - FY2013
The local piling sector is evolving from a cyclical upturn to a super cycle as the development of large-scale infrastructure, property and oil & gas projects in Malaysia shifts into a higher gear. We expect demand for piling to accelerate over the next 6-12 months with additional pilling jobs coming from Iskandar, Petrochemical Integrated Development (Rapid), Tun Razak Exchange (TRX), West Coast Expressway (WCE), and new property launches.
(RHB research July.2013 - FY2014)
Pintaras has booked itself a ticket to ride on this super cycle of the local piling industry with MYR100m of capital expenditure. It hopes to double its outstanding orderbook to MYR300m from MYR150m currently. RHB project Pintaras’ net profit growth to zoom up at a CAGR of 18.7% between FY12 and FY15, vis-à-vis 10.5% in FY12.
(RHB research July.2013 - FY2014)
From now on, we believe it is a no-brainer that piling demand in Malaysia will only
rise further. Over the next six to 12 months, we foresee new or additional demand for
piling jobs to come from:
-
MYR383bn Iskandar Malaysia (after a brisk year of land transactions, actual
construction works are set to start);
-
MYR60bn Refinery and Petrochemical Integrated Development (Rapid) in
Pegerang, Johor (as land acquisition and other issues are overcome);
-
MYR26bn Tun Razak Exchange (TRX) (the tender for infrastructure package is
already closed, pending evaluation and award of contract);
-
MYR7bn West Coast Expressway (WCE) (pending financial close by Oct 2013);
and
-
Other new property launches all over Malaysia
(RHB research July.2013 - FY2014)
Pintaras has booked itself a ticket to ride
on this super cycle of the local piling industry. It incurred capital expenditure of about
MYR50m in FY11-FY12, bringing the total book value of its plant and equipment to
about MYR81m as at end-FY12. It has budgeted another MYR50m capital
expenditure in FY13-FY14. Leveraging on the new capacity, Pintaras is hopeful to
double its outstanding orderbook to MYR300m in the near future from MYR150m
currently (see Figure 3). We project Pintaras’ net profit growth to shift into a higher
gear at a CAGR of 18.7% between FY12 and FY15, vis-à-vis 10.5% in FY12.
(Pintaras' order book is closely watched. RHB said Pintaras had recently secured two contracts valued at RM145 million. The contracts almost doubled Pintaras' orderbook to RM295 million from RM150 million.“These new jobs have also, for the first time, effectively filled up Pintaras’ expanded capacity of about MYR300m from MYR150m, backed by about MYR100m capex
(capital expenditure) in recent years,” RHB said.) - http://www.bursacommunity.com/t20328-hot-stock-pintaras-rises-6-on-tp-upgrade April.2014
(Pintaras' order book is closely watched. RHB said Pintaras had recently secured two contracts valued at RM145 million. The contracts almost doubled Pintaras' orderbook to RM295 million from RM150 million.“These new jobs have also, for the first time, effectively filled up Pintaras’ expanded capacity of about MYR300m from MYR150m, backed by about MYR100m capex
(capital expenditure) in recent years,” RHB said.) - http://www.bursacommunity.com/t20328-hot-stock-pintaras-rises-6-on-tp-upgrade April.2014
Due to the nature of the industry, piling contracts have shorter work cycles (average 9 months) as compared to civil and structural construction jobs (average 24 months). PTARAS’s outstanding orderbook which currently stands at c.RM150m could comfortably sustain the group turnover churn until FY14.
To recap, PTARAS secured a total of c.RM130m worth of jobs in 2013. Going forward, we are positive on the construction sector as many high-profile and high-value projects are scheduled to commence construction, i.e. MRT2, TRX, Rapid project as well as on work-flows from other property development projects in the pipeline. Hence, we believe its orderbook replenishment momentum will be maintained in 2014.
(Kenanga research Aug.2013 - FY2014)
該公司也不排除一旦出現理想收購價，將脫售製造業務。
鵬發董事經理丘漢強在股東大會及特大後表示，正在競標20億至30億令吉工程，多數來自私人領域，以柔南依斯干達區域居多。他說，目前鵬發已獲取超過訂單量半數目標，尚有3個月時間有待達標，相信在市場工程帶動下，明年建築工程前景樂觀。
http://biz.sinchew.com.my/node/83383?tid=6 Oct.2013 - FY2014
目前該公司核心業務為建築工程及製造金屬罐，2013財政年建築工程貢獻近80%營業額，製造業務則貢獻20%，亦出口產品至澳洲、巴基斯坦、新加坡及越南；稅前盈利方面，建築工程及製造業務分別按年上漲17%及下滑26%
針對未來是否脫售製造業務，專注建築工程的問題，丘漢強坦言，如果出現具難以抗拒的“好價格”，會考慮脫售該業務。他說，製造業務還在成長，由於出口市場僅貢獻該業務10%營業額，目前還在尋找拓展海外機會，希望2年內增加營業額貢獻至20%。
對於會如何運用1億5千萬令吉現金，他表示將用於併購、運作資本及派息。“現有業務還在成長階段，需保留現金運作業務及購買器材，暫不考慮設定派息政策。”
至於收購事項，他表示目前還未有特定目標，不過會在現有相關領域需求併購機會，包括製造及工程業務。
http://biz.sinchew.com.my/node/83383?tid=6 Oct.2013 - FY2014
鵬發（PTARAS，9598，主板建築組）今日宣佈，獲得國投獨立投資私人有限公司（PNB Merdeka Ventures）頒發價值7千400萬令吉的合約，以便為建議中的獨立遺產大廈（Warisan Merdeka）進行地基工程。
上述大廈為國民投資公司（PNB）的“獨立遺產”計劃之一。這項從2004年開始規劃的綜合產業發展計劃總值達50億令吉，涵蓋辦公樓、公寓和購物廣場等，將分10年和3期工程進行。其中，預計在2015年竣工(piling)的首期樓高100層的獨立遺產大廈，成本料達25億至30億令吉，高度估計達525至550米，有望超越台北101的逾509米，成為世界第二高建筑物。
http://biz.sinchew.com.my/node/91557?tid=6 Mar.2014 - FY2014
鵬發近期獲得兩項總值1億4500萬令吉合約(Warisan Merdeka & Lakeville Wahyu)，使現有工程訂單從1億5000萬令吉，倍增至2億9500萬令吉。這些新工程首次填滿公司擴充后約3億令吉產能，由近年約1億令吉資本開銷扶持。
http://www.chinapress.com.my/node/518643 April.2014 - FY2014
鹏发董事经理丘汉强在接受《南洋商报》专访时表示，目前公司手握约3亿令吉的订单，去年的新订单就超过2亿令吉。
“目前，公司竞标的工程，分别落在巴生谷、新山及槟城。”
他说，尽管政府缩减大型工程，但仍有部分工程在跑鉴于订单强稳和业务展望乐观，丘汉强为鹏发设下2020年达到5亿令吉营业额的目标。
http://www.nanyang.com/node/620127?tid=462 May.2014 - FY2014
“我希望能够在2020年达到5亿令吉营业额的目标。”这是丘汉强设下更长远的目标。他表示，接下来会持续扩增产能，包括收购设备及增加人力，达到这项目标。以现阶段的市场状况来看，公司能够竞标更多工程，提高营业额。
不过，目前会比较谨慎，因为人力及产能不足，所以无法承担更多的工程。“我们仍在购买设备，因相信成长潜能仍在。”虽然国行积极推行打房措施，但是对公司的影响不大。
在1999年收购的工业金属容器生产商PRIMA包装私人有限公司，持续稳定成长，所以鹏发不会脱售该业务。由于制造业务的盈利不稳定，且与核心业务不相干，不少投资者认为，该公司应该脱售该业务。丘汉强指，金属容器生产是一项已达到成熟阶段的业务，该公司拥有超过40年的历史。
由于该行业有很多老业者，竞争非常激烈的，所以成长步伐缓慢。即便如此，该业务提供稳定的收入及回酬，且资本开销不大，所以鹏发没有脱售的理由。
1997年金融风暴时，因建筑业受到很大的冲击，加上当时拥有资金，所以鹏发收购PRIMA包装。
他表示，一向对并购活动抱着开放态度，但相关商机不常来。
即便拥有再多工程设备，人力资源不足都会限制鹏发成长。丘汉强表示，打桩领域在过去3年积极发展，所以这方面的人力供不应求，包括项目经理、工程师、技术性员工等。尤其是鹏发专门从事打桩行业，这方面的人才少之又少。部分工程师较青睐于为发展商工作，如咨询及设计，但愿意在基建工程下工作，每天日晒雨淋的人却不多。
“我们尝试留住及培训人才，如去年推行ESOS计划。”一直以来公司股价低于净资产值，所以没有进行ESOS的理由。由于去年股价处在较合理水平，所以决定进行该活动。
目前，公司拥有约300名员工，这包括建筑及制造业务。
http://www.nanyang.com/node/628662?tid=687 June.2014 - FY2015
他补充，基于业务趋向在于打桩工程，所以我们才会较关注在该业务，但并不会限制在一个业务而已，还有其他方面能够发展。“公司能够向多方面发展业务，未来只要有机会，我们不一定只做打桩业务而已。”
Strongest orderbook this year. As of now, Pintaras’ outstanding
orderbook stands at RM250m after it reached an all-time high of
about RM300m two months ago. In fact, it has exceeded our initial
new orderbook forecast of only RM100m in FY14. The orderbook
will provide earnings visibility to the group for the next 12-15
months. To recap, Pintaras secured RM284m worth of new
contracts in FY14 (FYE: June) which are mainly from property
projects.
Current tenderbook worth RM2.0-RM3.0b. Management also
mentioned that this is one of the highest tenderbook in its history.
This tells us that there is still strong demand for piling contractors’
services.
Moreover, medium-to-long-term prospects of piling industry
are still bright with more infrastructure and property-related
projects in the pipeline. Amongst the projects that we think will
benefit Pintaras are: Bukit Bintang City Centre (BBCC), Tun Razak
Exchange (TRX), West Coast Expressway, power plant’s project
3A, West Coast Expressway (WCE), KVMRT, and Kwasa
Damansara’s MX1 project, RAPID.
“We are mostly bidding for commercial and residential high-rise buildings,” Chiu said.
Asked if the group will be going into any mergers or acquisitions to expand its business, Chiu said Pintaras had mainly focused on growing organically. “It is unlikely that we would acquire another piling company. If we can grow our own business ourselves, it makes no sense to acquire another piling company. "Our effort is concentrated in growing our own business,” he said.
http://www.theedgemarkets.com/my/article/pintaras-targets-15-net-profit-growth-fy15-md Oct.2014 - FY2015
丘汉强提到，近期將会专注在高楼建筑工程，而且2015年財政预算案中所提到的，第3轻快铁以及第2捷运工程，將是该公司关注的工程项目。
「比较1994年上市后的財报表现，我们的营业额在25年內已取得了3.81倍成长，至2.02亿令吉，而净利更是成长10倍，至5400万令吉。我们向来较专注长期成长，以达到预期的目標。」
对于是否会在近期內考虑涉足房地產业，他表示，短期內由于没有极佳的机会，因此暂无此计划，但不排除在未来的发展会纳入与建筑相关的行业，以便將业务多元化。
http://cnews.cari.com.my/news.php?id=672988 Oct.2014 - FY2015
鹏发目前订单额为2亿令吉， 投標总额为2 0 亿令吉，並且拥有1亿6000万令吉的现金。他提到公司每年的资本支出为3000万令吉，並且正致力提升公司在管理方面的效率以及能力。
对于明年实行的消费税，丘汉强说，该政策不会对该公司產生直接的影响
http://cnews.cari.com.my/news.php?id=672988 Oct.2014 - FY2015
In the recent Budget, the government allocated some RM76 billion for infrastructure projects which will start next year. These include the constructions of the 1,663km Pan-Borneo highway and the 56km Klang Valley MRT-Line 2, costing RM23 billion and RM27 billion respectively.
Pintaras has undertaken works for the first phase of the MRT project and stands a good chance of securing jobs for the second phase. For the first phase, it has undertaken bored pilling works from the One Utama to The Curve stations, and from the Dataran Sunway to Section 17 stations.
http://www.theedgemarkets.com/my/article/insider-asia’s-stock-pick-pintaras-jaya Oct.2014 - FY2015
In a filing with Bursa Malaysia today, Pintaras Jaya said revenue from construction division for the three months through September was higher by 57% at RM55.4 million, compared with RM35.2 million a year ago.Despite the substantial increase in revenue, the group said profit before tax (PBT) for the division was only up 8% to RM12.7 million from RM11.8 million a year earlier due to lower progress profits recognised from current on-going projects. Depreciation charges were also higher during the quarter due to capital expenditure.
Sales from manufacturing division also increased by 7% to RM8.8 million in 1QFY15 from RM8.2 million in 1QFY14. PBT, however, fell 17% to RM1.5 million from RM1.8 million in 1QFY14 due to a combination of factors which included competitive pricing, higher material and operating costs.
"Although our tender book value has reduced and the number of construction starts appears lesser, particularly in the Iskandar region, the construction industry as a whole remains robust on the back of strong construction activities from the private and public sectors," it said.
"The board expects labour and material costs to continue to escalate which may have an impact on our profitability," it added.
http://www.theedgemarkets.com/my/article/pintaras-jaya-1q-net-profit-92-rm1151m Nov.2014 - FY2015
談到公司現財政年未來2季的業務前景時，該公司指出，隨著原油價格急挫50%，大馬經濟強勁成長的展望料將隨著消逝。該公司認為，加上政府將在今年4月1日開始實施消費稅，使該公司董事部認為2015年財政年未來2季的營運環境，將是艱辛及充滿挑戰。
惟政府最近檢討2015年財政預算案時重申，國內的一些大型工程計劃將依照原定計劃推行，如巴生河流域捷運地下鐵第2線路計劃、輕快鐵第3線路計劃、國油在新山的石油提煉及石化綜合發展中心（RAPID），以及高速火車計劃等，預料將推動經濟活動，包括帶動大型計劃周邊的土地發展計劃，特別是可負擔房屋計劃等。
http://biz.sinchew.com.my/node/112700 Mar.2015 - FY2015
CUSTOMERS
以鹏发今时今日的地位，合作的客户都是著名的发展商，分别是马星集团（MAHSING，8583，主板产业股）、林威发展（LINGUI DEVELOPMENT）、柏威年集团（Pavilion Group）、雪兰莪实业（SPB，1783，主板产业股）等。
http://www.nanyang.com/node/628662?tid=687 June.2014 - FY2014
(Econpile IPO Prospectus 2014)
预定本月30日上市大马股票交易所主板的亿钢控股（Econpile），预期从首次公开售股（IPO）中筹资4千860万令吉。根据招股书，在所筹措的资金当中，1千458万令吉將用来购买地桩机器等、1千816万令吉做为营运资本、1千215万令吉偿还银行贷款，其余371万令吉为招股开销。
根据独立调查报告，Econpile在大马地桩及基础设施佔有13%的市场份额。该公司目前共握有4亿5千万令吉建筑订单，並竞標20亿令吉工程。
目前，该公司涉足巴生河流域、柔佛、檳城、彭亨、沙巴及砂劳越市场，潘沙表示，正爭取马六甲的工程，也接获怡保和纳闽的地桩及地基工程询问。
http://biz.sinchew.com.my/node/96725?tid=6#ixzz34OrKtFSF June.2014 - FY2015
计划在今年中上市大马的亿钢控股（Econpile），将成为国内第二家的打桩及地基工程服务的挂牌公司。不过，丘汉强却不担心这会分散投资者对鹏发的注意力。
他表示，其实鹏发在1994年上市时，国内已有4、5家挂牌的打桩公司，其中包括最后一家在2010年除牌的保强工程（Pilecon）。
不过，经过两次金融风暴，市场上最后仅剩鹏发一家上市的打桩公司。
因此，现在多一家在相同领域的上市公司，他并不感到压力，且认为对公司没有影响。同时，多一家上市公司也让投资者能够比较价值，这对公司是一件好事。
“我们有良好的纪录，所以无需担心。此外，我们已在市场上设下一定的期望，反而是新上市公司必须努力达到这些期望。”
http://www.nanyang.com/node/628662?tid=687 June.2014 - FY2015
丘汉强表示，市场竞争一直都存在，与1997年风暴以前没有很大的分别。
目前，市场上有4、5家主要打桩业者。此外，还有其他外资公司逐步进军大马，分别有新加坡、法国、中国等商家。同时，不少国内业者也开始崛起。
“不过，我认为，今时今日的鹏发比以前更强大。虽然不能说我们不担心市场竞争，但是我相信，公司有竞争的能力。”
他补充，自1989年创办至现在，已有多年的历史，无论是专业技术、纪录、财务背景及名声，公司样样具备。此外，也拥有大型及最新的设备，这让公司能够进行各式各样的工程。他强调：“我们有这些设备及人力，相反的，竞争对手不一定有这么全面的优势。”
相同的，兴业研究指，由于鹏发拥有完整的打桩机器、工具及配件，以及对地面情况拥有深入认识，所以看好该公司能够挑选竞标最好的工程，且成功获得工程。
“鹏发是国内4至5家首选打桩业者之一，这些公司分别掌控5至10%市占率。”
http://www.nanyang.com/node/628662?tid=687 June.2014 - FY2015
Name of Shareholders Shares
1 Pintaras Bina Sdn Bhd 29,016,158 36.24%
2 Chiu Hong Keong 11,407,860 14.25%
3 Khoo Yok Kee 5,212,880 6.51%
4 Khoo Keow Pin 5,041,652 6.30%
5 Alliancegroup Nominees (Tempatan) Sdn Bhd
(Pheim Asset Management Sdn Bhd for Employees Provident Fund) 3,000,000 3.75%
6 Chua Hock Chin 1,724,000 2.15%
7 HSBC Nominees (Tempatan) Sdn Bhd
(HSBC (M) Trustee Bhd for Singular Asia Flexible Fund) 1,063,600 1.33%
http://malaysiafinance.blogspot.com/2010/01/why-i-like-pintaras-jaya.html Jan.2010 - FY2010
Projects
2011
- Banyan Tress Signature Serviced Apartment, Pavillion http://archives.thestar.com.my/news/story.asp?file=/2011/11/19/pnews/9929438
The Board of Pintaras Jaya Berhad ("PJB") is pleased to announce that the Company's wholly-owned subsidiary, Pintaras Geotechnics Sdn. Bhd. has on 27th October 2011, received a Letter of Award dated 20th October 2011 from Lumayan Indah Sdn. Bhd. to undertake sub-structure works including temporary retaining structures, piling and pile caps for a Service Apartment at Jalan Conlay, Kuala Lumpur, Wilayah Persekutuan. The said works is to commence immediately with a completion period of 12 months. The contract is valued at RM30 million.
2012
- Parkview Serviced Apartment, Changkat Perak http://www.propwall.my/klcc/parkview
2013
1.Mammoth Empire Construction, Subang Jaya
鹏发独资子公司———鹏发岩土工程（Pintaras Geotechnics）私人有限公司，获猛犸帝国建筑（Mammoth Empire Construction）私人有限公司颁发价值4750万令吉的合约。根据合约，鹏发岩土工程将为雪州梳帮再也商用发展项目、提供钻孔灌注桩工程服务。鹏发指出，上述工程将即时动工，预计9个月内竣工。
2. Metbuild, PJ Commercial development
鵬發子公司接獲一項商業發展計劃總值3000萬令吉合約。該公司向馬證交所報備指出，子公司 Pintaras Geotechnics 私人有限公司接獲 Metbuild 私人有限公司頒發書，將負責為八打靈再也的商業發展計劃打椿、建地下連續牆（diaphragm wall）及挖掘地下層工作。這項合約總值3000萬令吉，必須即時動工，並需在9個月內完成。鵬發預計，這項合約將可貢獻公司未來的收益。
3. MRT Package V3, BU & The Curve
鵬發宣佈，子公司Pintaras Geotechnics獲成榮企業（Mudajaya Corporation），頒予總值2006萬令吉的合約。鵬發今日向馬證交所報備，子公司接獲來自成榮企業得工程授權合約，將為雪州萬達購物中心及The Curve購物廣場之間的V3配套捷運計劃，提供鑽孔樁工程。“該項工程將于5月2日開始動工，為期12個月，料將貢獻公司未來獲利。
http://www.bursamalaysia.com/market/listed-companies/company-announcements/1256301 April.2013 - FY2013
4. Pavillion Hilltop, Mont Kiara (GDV 1.18bil) http://www.propwall.my/mont_kiara/pavilion_hilltop/5096
鵬發（PTARAS，9598，主要板建築）宣佈，子公司Pintaras Geotechnics私人有限公司獲總值3600萬令吉的合約頒發書。該公司今日向馬證交所報備，該頒發書由Permata Cermat私人有限公司所發出，合約內容為滿家樂一項公寓計劃進行土工、打樁和擋土牆等工程。鵬發指出，工程將在本月30日開始，工程期限為13個月，並看好這項合約將貢獻公司未來收益。
http://www.bursamalaysia.com/market/listed-companies/company-announcements/1267233
(RHB research July.2013 - FY2014)
5. Southville City http://www.southville-city.com
The Board of Pintaras Jaya Berhad ("PJB") is pleased to announce that the Company's wholly-owned subsidiary, Pintaras Geotechnics Sdn. Bhd. has, on 29th October 2013, received a Letter of Award dated 7th October 2013 from Tristar Acres Sdn. Bhd. to undertake piling works for a proposed mixed development project at Kg. Sg. Buah, Mukim Dengkil, Daerah Sepang, Selangor Darul Ehsan. The said works is to commence in November 2013 with a completion period of 14 months. The contract is valued at RM59 million.
http://www.bursamalaysia.com/market/listed-companies/company-announcements/1446853
6. Datumcorp International Sdn. Bhd.(Parent: PKNS), Kelana Jaya
The Board of Pintaras Jaya Berhad ("PJB") is pleased to announce that the Company's wholly-owned subsidiary, Pintaras Geotechnics Sdn. Bhd. has, on 19th December 2013, received a Letter of Acceptance dated 11th December 2013 from Datumcorp International Sdn. Bhd. to undertake piling and basement construction works for a proposed apartment project at Kelana Jaya, Petaling Jaya, Selangor Darul Ehsan. The said works is to commence in January 2014 with a completion period of 12 months. The contract is valued at RM24 million.
http://www.bursamalaysia.com/market/listed-companies/company-announcements/1496797 Dec.2013 - FY2014
2014
1. Office building project at the Federal Government Administrative Centre, Putrajaya (24mil / 6 months = 4mil/month)
The Board of Pintaras Jaya Berhad ("PJB") is pleased to announce that the Company's wholly-owned subsidiary, Pintaras Geotechnics Sdn. Bhd. has, on 3rd March 2014, received a Letter of Acceptance dated 17th February 2014 from Pembinaan Mitrajaya Sdn. Bhd. to undertake bored piling works for a proposed office building project at the Federal Government Administrative Centre, Putrajaya. The said works is to commence on 10th March 2014 with a completion period of 6 months. The contract is valued at about RM24 million.
http://www.bursamalaysia.com/market/listed-companies/company-announcements/1555965 Mar.2014 - FY2014
2. Warisan Merdeka (74mil / 12 months = 6.16mil/month)
The Board of Pintaras Jaya Berhad ("PJB") is pleased to announce that the Company's wholly-owned subsidiary, Pintaras Geotechnics Sdn. Bhd. has, on 12th March 2014, received a Commencement Date Notice dated 12th March 2014 from PNB Merdeka Ventures Sdn. Berhad to undertake foundation works for a proposed building at Warisan Merdeka, Kuala Lumpur. The said works are to commence on 17th March 2014 with a completion period of about a year. The contract is valued at RM74 million.
http://www.bursamalaysia.com/market/listed-companies/company-announcements/1564525 Mar.2014 - FY2014
3. Lakeville residence, Taman Wahyu (71mil / 16 months = 4.43mil/month)
The Board of Pintaras Jaya Berhad ("PJB") is pleased to announce that the Company's wholly-owned subsidiary, Pintaras Geotechnics Sdn. Bhd. has, on 5th April 2014, received a Letter of Acceptance from Enchanting Heights Sdn. Bhd. to undertake piling and pile cap works for a proposed mixed development project at Jalan Sibu, Taman Wahyu, Kuala Lumpur. The said works are expected to commence in May 2014 with a completion period of 16 months. The contract is valued at about RM71 million.
http://www.bursamalaysia.com/market/listed-companies/company-announcements/1587853 April.2014 - FY2014
4. Quantum Quest, Jalan Tun Razak
The Board of Pintaras Jaya Berhad ("PJB") is pleased to announce that the Company's wholly-owned subsidiary, Pintaras Geotechnics Sdn. Bhd. has, on 10th June 2014, received a Letter of Award dated 9th June 2014 from Quantum Quest Sdn. Bhd. to undertake earthworks and piling works for a proposed building project at Section 87A, Jalan Tun Razak, Kuala Lumpur. The said works is to commence on 23rd June 2014 with a completion period of 15 months. The contract is valued at about RM32 million.
http://www.bursamalaysia.com/market/listed-companies/company-announcements/1652597 June.2014 - FY2015
2015
1. Icon City, PJ
The Board of Pintaras Jaya Berhad ("PJB") is pleased to announce that the Company's wholly-owned subsidiary, Pintaras Geotechnics Sdn. Bhd. has, on 21st January 2015, received a Letter of Acceptance from Icon City Development Sdn. Bhd. to undertake the proposed extension of diaphragm wall and bored piling works for a proposed commercial and residential development at Icon City-Phase 1, Petaling Jaya, Selangor Darul Ehsan. The said works are expected to commence immediately with a completion period of 12 months. The contract is valued at about RM21.4 million.
http://www.bursamalaysia.com/market/listed-companies/company-announcements/1100057 Jan.2015 - FY2015
Share price
2. Metbuild, PJ Commercial development
鵬發子公司接獲一項商業發展計劃總值3000萬令吉合約。該公司向馬證交所報備指出，子公司 Pintaras Geotechnics 私人有限公司接獲 Metbuild 私人有限公司頒發書，將負責為八打靈再也的商業發展計劃打椿、建地下連續牆（diaphragm wall）及挖掘地下層工作。這項合約總值3000萬令吉，必須即時動工，並需在9個月內完成。鵬發預計，這項合約將可貢獻公司未來的收益。
3. MRT Package V3, BU & The Curve
鵬發宣佈，子公司Pintaras Geotechnics獲成榮企業（Mudajaya Corporation），頒予總值2006萬令吉的合約。鵬發今日向馬證交所報備，子公司接獲來自成榮企業得工程授權合約，將為雪州萬達購物中心及The Curve購物廣場之間的V3配套捷運計劃，提供鑽孔樁工程。“該項工程將于5月2日開始動工，為期12個月，料將貢獻公司未來獲利。
http://www.bursamalaysia.com/market/listed-companies/company-announcements/1256301 April.2013 - FY2013
4. Pavillion Hilltop, Mont Kiara (GDV 1.18bil) http://www.propwall.my/mont_kiara/pavilion_hilltop/5096
鵬發（PTARAS，9598，主要板建築）宣佈，子公司Pintaras Geotechnics私人有限公司獲總值3600萬令吉的合約頒發書。該公司今日向馬證交所報備，該頒發書由Permata Cermat私人有限公司所發出，合約內容為滿家樂一項公寓計劃進行土工、打樁和擋土牆等工程。鵬發指出，工程將在本月30日開始，工程期限為13個月，並看好這項合約將貢獻公司未來收益。
http://www.bursamalaysia.com/market/listed-companies/company-announcements/1267233
(RHB research July.2013 - FY2014)
5. Southville City http://www.southville-city.com
The Board of Pintaras Jaya Berhad ("PJB") is pleased to announce that the Company's wholly-owned subsidiary, Pintaras Geotechnics Sdn. Bhd. has, on 29th October 2013, received a Letter of Award dated 7th October 2013 from Tristar Acres Sdn. Bhd. to undertake piling works for a proposed mixed development project at Kg. Sg. Buah, Mukim Dengkil, Daerah Sepang, Selangor Darul Ehsan. The said works is to commence in November 2013 with a completion period of 14 months. The contract is valued at RM59 million.
http://www.bursamalaysia.com/market/listed-companies/company-announcements/1446853
6. Datumcorp International Sdn. Bhd.(Parent: PKNS), Kelana Jaya
The Board of Pintaras Jaya Berhad ("PJB") is pleased to announce that the Company's wholly-owned subsidiary, Pintaras Geotechnics Sdn. Bhd. has, on 19th December 2013, received a Letter of Acceptance dated 11th December 2013 from Datumcorp International Sdn. Bhd. to undertake piling and basement construction works for a proposed apartment project at Kelana Jaya, Petaling Jaya, Selangor Darul Ehsan. The said works is to commence in January 2014 with a completion period of 12 months. The contract is valued at RM24 million.
http://www.bursamalaysia.com/market/listed-companies/company-announcements/1496797 Dec.2013 - FY2014
2014
1. Office building project at the Federal Government Administrative Centre, Putrajaya (24mil / 6 months = 4mil/month)
The Board of Pintaras Jaya Berhad ("PJB") is pleased to announce that the Company's wholly-owned subsidiary, Pintaras Geotechnics Sdn. Bhd. has, on 3rd March 2014, received a Letter of Acceptance dated 17th February 2014 from Pembinaan Mitrajaya Sdn. Bhd. to undertake bored piling works for a proposed office building project at the Federal Government Administrative Centre, Putrajaya. The said works is to commence on 10th March 2014 with a completion period of 6 months. The contract is valued at about RM24 million.
http://www.bursamalaysia.com/market/listed-companies/company-announcements/1555965 Mar.2014 - FY2014
2. Warisan Merdeka (74mil / 12 months = 6.16mil/month)
The Board of Pintaras Jaya Berhad ("PJB") is pleased to announce that the Company's wholly-owned subsidiary, Pintaras Geotechnics Sdn. Bhd. has, on 12th March 2014, received a Commencement Date Notice dated 12th March 2014 from PNB Merdeka Ventures Sdn. Berhad to undertake foundation works for a proposed building at Warisan Merdeka, Kuala Lumpur. The said works are to commence on 17th March 2014 with a completion period of about a year. The contract is valued at RM74 million.
http://www.bursamalaysia.com/market/listed-companies/company-announcements/1564525 Mar.2014 - FY2014
3. Lakeville residence, Taman Wahyu (71mil / 16 months = 4.43mil/month)
The Board of Pintaras Jaya Berhad ("PJB") is pleased to announce that the Company's wholly-owned subsidiary, Pintaras Geotechnics Sdn. Bhd. has, on 5th April 2014, received a Letter of Acceptance from Enchanting Heights Sdn. Bhd. to undertake piling and pile cap works for a proposed mixed development project at Jalan Sibu, Taman Wahyu, Kuala Lumpur. The said works are expected to commence in May 2014 with a completion period of 16 months. The contract is valued at about RM71 million.
http://www.bursamalaysia.com/market/listed-companies/company-announcements/1587853 April.2014 - FY2014
4. Quantum Quest, Jalan Tun Razak
The Board of Pintaras Jaya Berhad ("PJB") is pleased to announce that the Company's wholly-owned subsidiary, Pintaras Geotechnics Sdn. Bhd. has, on 10th June 2014, received a Letter of Award dated 9th June 2014 from Quantum Quest Sdn. Bhd. to undertake earthworks and piling works for a proposed building project at Section 87A, Jalan Tun Razak, Kuala Lumpur. The said works is to commence on 23rd June 2014 with a completion period of 15 months. The contract is valued at about RM32 million.
http://www.bursamalaysia.com/market/listed-companies/company-announcements/1652597 June.2014 - FY2015
2015
1. Icon City, PJ
The Board of Pintaras Jaya Berhad ("PJB") is pleased to announce that the Company's wholly-owned subsidiary, Pintaras Geotechnics Sdn. Bhd. has, on 21st January 2015, received a Letter of Acceptance from Icon City Development Sdn. Bhd. to undertake the proposed extension of diaphragm wall and bored piling works for a proposed commercial and residential development at Icon City-Phase 1, Petaling Jaya, Selangor Darul Ehsan. The said works are expected to commence immediately with a completion period of 12 months. The contract is valued at about RM21.4 million.
http://www.bursamalaysia.com/market/listed-companies/company-announcements/1100057 Jan.2015 - FY2015
Share price
根据2010财政年第一季的每股盈利6仙计算，若以全年化每股净利是24仙，鹏发目前是在6.3倍本益比水平交易，与市场2010年16倍的本益比以及建筑 领域的14至15倍比较，鹏发显然已经严重被低估。此外，该公司高达6.7%的周息率，也比市场平均的3.5%及建筑领域的4.5%高。不包括每股净现 金，鹏发是处在超值的1.6倍本益比水平！除此之外，较其2010财政第一季的2.25令吉账面价值折价33%，以及它拥有的每股1.17令吉净现金，则 相等于现有股价的约78%。
http://www.investalks.com/forum/forum.php?mod=viewthread&tid=1238&highlight=pintaras Jan.2010 - FY2010
过去，尽管鹏发持庞大现金且零负债的内部价值获市场认同，但股价一直没有起色，处于低估水平。彭博社数据显示，该股在去年平均股价为2.79令吉，每日平均成交量仅为406万6500股。今年，被市场冷落的鹏发开始发光发热，股价和成交量大幅增长，截至目前平均股价已来到4.208令吉，每日平均成交量达821万7900股。
一名不愿具名的建筑股分析员对《南洋商报》表示，鹏发在过去一直低调营运，很少与投行接触，也没有投行跟踪该股。“据我所知，该公司已有改善，并愿意接见分析员。”由此可见，鹏发开始着重投资者关系（IR），兴业研究已在7月开始追踪这家公司，也是目前本地投行内，唯一研究鹏发的投行。该分析员相信，这是让鹏发股价开始发亮的原因。
从鹏发于10月7日股东大会和特大中，也可看出鹏发逐渐受到瞩目。一名小股东对《南洋商报》表示，过去大会向来乏人问津，只有公司管理层撑场，场面冷淡，然而，今年的出席人数突然大增近80至100人，因此感到相当惊讶。这相信也是鹏发董事经理丘汉强意料之外。
早前，鹏发建议进行1送1红股活动，说明其有意透过扩大股本来提高交投，规模扩大也有利于引进机构投资者，这也是股价走高原因之一。
http://www.nanyang.com/node/571469?tid=687 Oct.2013 - FY2014
鹏发的股价近来大涨，4月21日更冲上历史新高，报4.12令吉。对此，丘汉强表示，若整个营运环境不变，公司保持良好纪录，相信股价会同步走高。
http://www.nanyang.com/node/620127?tid=462 May.2014 - FY2014
对于一家发展稳健的公司，股价就是其努力的成绩单，这意味着在投资者的评价。
5年前，鹏发在投资者眼中，吸引力不大，交投量低迷的股价。
不过，在良好的管理方式，且成绩优异，逐渐受到投资者的关注。
在2009年以前，其股价一直都在1令吉以下，随着马股因经济复苏而回弹，其股价也在2009年初开始走高。
之后，更在去年飞速走高，冲破3令吉。
来到今年，其上涨动力丝毫不减，两度上探历史新高4.12令吉。虽然其股价走高多时，相比于其他建筑股，其本益比不低，但市场给予公司极高的评价。
国内证券商则给予该股4.61令吉的目标价，而部分投资者更认为该股拥高于5令吉的内在价值。
兴业研究是唯一追踪鹏发的券商，且给予该股很高的评价。自去年开始追踪该股后，即使其股价不断增长，但该券商依然维持“买入”投资评级。
同时，也在今年初进一步调升其目标价格至4.61令吉，大幅高于之前的3.50令吉。
“这主要是因为公司在今年至今获得数项新合约，料能够大幅改善其净利能见度。”
http://www.nanyang.com/node/628662?tid=687 June.2014 - FY2015
DIVIDEND
鹏发控股拥有优秀的股息记录，自1994年上市以来，它每年都回馈股东们。虽然并未设下股息政策，但邱汉强称，该公司普遍上分发约38%的收益。在2012财政年，该公司建议派发每股20仙股息，相等于其3580万令吉净盈利的44.7%，周息率达6.3%。
http://chinese.cari.com.my/news/news.php?id=377610&link=prev May.2013 - FY2013
鹏发控股的长期股东已经获得回馈。除了其股价升值的资本赚益外，该集团自1994年上市以来，每年都派发股息。虽然没有拟定股息政策，但该集团每年平均净派发率都达到净盈利约38%。
http://www.kwongwah.com.my/news/2014/05/18/99.html May.2014 - FY2014
CORPORATE EXERCISE
To increase its Authorised Share Capital from RM100,000,000.00 comprising 100,000,000 ordinary shares of RM1.00 each to RM1,500,000,000.00 comprising 1,500,000,000 ordinary shares of RM1.00 each by creating an additional of 1,400,000,000 new ordinary shares of RM1.00 each
http://www.bursamalaysia.com/market/listed-companies/company-announcements/1054601 Sept.2012 - FY2011
(I) PROPOSED BONUS ISSUE OF 80,064,000 NEW ORDINARY SHARES OF RM1.00 EACH IN PINTARAS JAYA BERHAD (“PINTARAS SHARES” OR “SHARES”) ON THE BASIS OF ONE (1) PINTARAS SHARE (“BONUS SHARE”) FOR EVERY ONE (1) EXISTING PINTARAS SHARE HELD AT A DATE TO BE DETERMINED AND ANNOUNCED LATER;
II) PROPOSED ESTABLISHMENT OF NEW EMPLOYEE SHARE OPTION SCHEME (“ESOS”) INVOLVING UP TO 15% OF THE ISSUED AND PAID-UP SHARE CAPITAL OF PINTARAS TO ELIGIBLE DIRECTORS AND EMPLOYEES OF PINTARAS, AND ITS SUBSIDIARIES; AND
(III) PROPOSED SHARE BUY BACK BY PINTARAS OF UP TO 10% OF ITS OWN ISSUED AND PAID-UP SHARE CAPITAL
http://www.bursamalaysia.com/market/listed-companies/company-announcements/1364985 July.2013 - FY2014
去年，鹏发进行红股计划，以1送1红股比例，送出8006万4000股，这是自2002年之后再进行相关活动。在完成红股计划之后，其股票数额增加一倍，至1亿6013万股。
股价走高，且股票数额增加，带动其市值从2013年6月30日的3亿8590万令吉，大幅增加至5月30日的6亿5652万令吉。丘汉强表示，由于股价在过去3年走高，且拥有保留盈利，所以决定发红股给股东。
这不仅能够回馈股东，把股价拉低，也能够扩大股票数额，提高市场流通量。他认为，随着股价走高，公司会进行企业活动也是非常正常的。
根据公司截至3月31日第三季业绩报告来看，公司仍有1亿2965万7000令吉的保留盈利。以公司的股票数额计算，要再进行红股并不难，能以2股送1红股比例回馈股东。虽然股票数额增加，公司规模变大，但是管理层会积极扩展公司。“我不能说满意公司目前的规模，但我认为还有很大的成长空间。”
http://www.nanyang.com/node/628662?tid=687 June.2014 - FY2015
Financial health
在截至2012年12月31日止，鹏发控股拥有净现金达1亿586万令吉，而资产负债表也显示没有借贷。
http://chinese.cari.com.my/news/news.php?id=377610&link=prev May.2013 - FY2013
Bull case
Pintaras is the best in the trade in the local market (and the
only publicly traded pilling contractor in Malaysia), in our opinion, by virtue of the
superb margins it has achieved. For FY12 and FY11 (June year-end), Pintaras
achieved PBT margins of 20.9% and 28.9%, way superior than 7.8% and 7.6%
achieved by a close competitor that is privately-owned (based on its annual accounts
filed with the Companies Commission of Malaysia).
Apart from good piling rates backed by a chronic shortage of capacity in the market,
Pintaras’ extraordinarily high margins are a convergence of a number of strengths
that are unique to Pintaras including:
-
A full range of piling machines (in various sizes and suited for different ground
conditions) and its tools and accessories (including cranes) that reduce the need
for outsourcing, which means better margin preservation. The insourcing model
also gives Pintaras better control over quality and timeliness of completion,
which translates into savings and hence better margins;
-
A substantial portion of Pintaras’ working equipment is fully depreciated
(including a 30-year crane) but functional thanks to good equipment
maintenance practices;
-
Less machinery downtime due to Pintaras’ procurement policy of purchasing
mainly brand new equipment and equipment imported from developed countries;
-
Pintaras’ intelligence and in-depth knowledge of the ground conditions of most
parts of Malaysia (accumulated from hundreds of jobs it has done over the course of more than two decades) allows it to make a well-informed judgements when it comes to picking and choosing the best jobs to bid, and putting in thewinning bids for them; and
5. Pintaras is able to procure key inputs such as cement/cement products and steel
bar at a discount to the going rates thanks to goodwill with key suppliers that goes back many years. More importantly, Pintaras has been a good paymaster backed by a debt-free and cash-rich balance sheet.
The key defences of the larger players against potential new entrants – including
foreign-based companies from China, South Korea and Singapore (we understand
that Bauer has been in the Malaysian market for years) –
(i) are the incumbents’ low cost structure (with certain depreciated equipment),
(ii) extensive range of machines and its tools and accessories (that takes time to build),
(iii) in-depth knowledge of local ground conditions (again, that takes time to build),
(iv) as well as a steady supply of qualified machine operators (that will have to be trained internally).
(i) are the incumbents’ low cost structure (with certain depreciated equipment),
(ii) extensive range of machines and its tools and accessories (that takes time to build),
(iii) in-depth knowledge of local ground conditions (again, that takes time to build),
(iv) as well as a steady supply of qualified machine operators (that will have to be trained internally).
(RHB research July.2013 - FY2014)
- Backed by the RM73bil Klang Valley MRT project that will keep the entire value chain of the construction sector (including piling) busy until 2021.
- Proliferation of high-rise developments (residential, commercial and office) on rising land scarcity in prime locations that require extension piling
- Chronic shortage of piling capacity in the market, which will boost piling rates
http://www.thestar.com.my/Business/Investing/2014/04/18/RHB-Research-maintains-Buy-on-Pintaras/?style=biz April.2014 - FY2014
Bear case
马来西亚经济出现比预期更严重的放缓情况，因为它的营业额大部份是来自国内。
http://www.investalks.com/forum/forum.php?mod=viewthread&tid=1238&highlight=pintaras Jan.2010 - FY2010
The industry is highly fragmented with many players (mostly the smaller ones undertaking low-value small piling jobs), with only about four to five that are more sizeable with a market share of 5%-10% each, including Pintaras, Econpile (M) Sdn Bhd (privately-owned), Geopancar Sdn Bhd (privately-owned) and Bauer Malaysia Sdn Bhd (the Malaysian unit of the German industrial group Bauer AG);
(RHB research July.2013 - FY2014)
The cost of piling machine is not prohibitively high. A China-made bored-piling machine, for instance, only costs about MYR2m, while one imported from Germany costs about MYR4m.
(RHB research July.2013 - FY2014)
Our biggest challenge is still human resources. Difficulty with recruitment at many levels of workers has intensified. Wage inflation issues continue to escalate.
(Quarterly report Q3.FY2014)
SWOT
(RHB research July.2013 - FY2014)
