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On Sunday (17.3.2024), water consumption in Penang was estimated to have reached a high of 927 million litres per day (MLD) as compared to the daily average of 877 MLD recorded in 2023.
This represents a sudden 50 MLD surge in water consumption year-on-year.
tariff hike, management used to guide extra 86 million revenue. but they have decreased it, now dk how much additional for the year. management guidance also cannot pakai. when people expect it to be good, time to be fearful. looking at how price is sustaining at 1.9rm, market is still excited, still have room for disappointment
earnings for this company not sustainable. look at the operating profit for 3q23 and 4q23. ignore the tax and look solely on fundamental. got some problem, why can be unstable one? somemore quite a big swing.
the forecast of many people here may be too bullish, even after factoring in the tariff hike.
the deferred tax is like that because they forecasting lower profits for next year compared to what was forecasted on 3q24. that's why they reversed back some tax credits
the floating solar, could work, but it is something new to them. now you are betting that they are capable of pulling of something new, when they can't even fix their own pipes (pipe burst recently and losing 300k per day)
plus, the solar segment is probably small profits and margins. overall fundamentals r weak
Solar power farming is not something new. If you have big plot of land (dam), you can venture into it any time and the local expertise is available there to assist. I truly believe that with the mass area of its dams ( of cost not covering the entire dam) , this is going to increase the revenue (profit) of the company in near term.
Gg, I heard from my friends that they expect lower revenue and operating profit. Earnings after tax may be good, but fundamentals and operations wise may be worse soon...
profits not gonna be sustainable. because revenue drop. next quarter earnings will also decline because of water pipe lose 330k daily in earnings
plus, government owe them money now, meaning alot of times in future, Penang government will take money from them whenever they want and keep owing and delay profits to shareholders
next quarter confirm weak. new coo means old one needs to pay severance also. Penang government owe them money. anytime also Penang can take money out of shareholders pocket
