•whose core business encompasses 3 segments, namely: (i) integrated public transport terminals, (ii) public bus services, and (iii) petrol stations – stands to benefit from the relaxation of social restrictions and increased travel activities amid the upcoming holiday season.
• For 3QFY21, PTRANS reported a higher net profit of RM13.6m (+13.3% YoY) mainly attributed to reduced expenses, bringing its 9MFY21 net income to RM40.5m (+41.6% YoY).
• Moving forward, consensus is forecasting PTRANS to register a net profit of RM53.3m in FY Dec 2021 and RM57.4m in FY Dec 2022, which translate to forward PERs of 7.4x this year and 6.9x next year, respectively.
• Technically speaking; price currently been trading in last phase of accumulation confirming by stopping volume and spring with volume divergence.