Protasco starting on a clean slate

TheStar Sat, Jun 01, 2019 09:00am - 4 years View Original


COULD construction and property player Protasco Bhd be a stock worth watching now that its boardroom tussle and one-off impairments have come to a close?

The company seems to have kitchen-sinked all of its skeletons in the fourth quarter of 2018, when it took a RM41.6mil hit to its bottom line on the back of cost overruns, provisions, impairments and retrenchment costs.

Following this write off, as if starting on a clean slate, Protasco posted a first-quarter net profit of RM1.23mil from a previous net loss of RM2.14mil.

Today, at its share price of 25.5 sen, the stock has retraced some 50% over the last 12 months.

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Comments

Firdaus Abdullah Singh
Like · Reply
Chong Ket Pen a fraud and coward, cheated hundreds of million from Protasco shareholders and yet blame others for his crime. Protasco is gone case.
Sulaiman Hamza
Like · Reply
Shame criminal. Cheat and abuse Protasco few hundred million. No hope.

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