PLUS EXPRESSWAY OF PROFIT

Update on 4/9/2010


Last Friday, Plus up +7 sen when price red  in the morning to the afternoon.  Before close, Plus doing magic show and the price turn green, (+7 sen) in which i regards as fantastico.   I look at the volume very high, acc/dist (+ve charted new high), stochastic overbought, momentum still good, rsi curving up, white candlestick ,  but the problem is MACD still in red.  I presume MACD will be temporary since other indicators look good.  I'm not encourage u to buy, but on monday I will take my chances to buy as PLUS will  give dividend 7.5 sen and the lodgement date is on monday (6/9/2010).  I provide u the chart, u make your own decision, i do mine.  As u know, the sentimen for PLUS now is the increase of traffic during raya festive season and their 3Q to 4Q announcement should be good.  Chart here. TQ.

Update (22/8/2010)

There is good news for PLUS last week.   Look here.

PLUS’ 2Q net profit up 14% to RM319m

KUALA LUMPUR: PLUS Expressways Bhd’s net profit for the second quarter ended June 30, 2010 (2QFY10) rose 14% to RM319.6 million from RM281.4 million a year earlier due to higher toll collection.


Revenue rose to RM859.7 million from RM772.3 million, up 11% year-on-year, while earnings per share (EPS) increased to 6.39 sen from 5.63 sen. PLUS declared an interim dividend of 7.5 sen per share for the financial year ending Dec 31, 2010.

Toll collection was 6.3% or RM38.5 million higher than in the immediate preceding quarter.

For the first half of FY10, traffic volume growth was 9.8% for PLUS, 14.2% for North South Central Link (Elite), 21.4% for The Second Link (Linkedua) and 10.8% for Butterworth-Kulim Expressway (KLBK).

Both net profit and revenue for the half year rose 11% to RM618.7 million and RM1.7 billion, respectively. EPS stood at 12.37 sen versus 11.2 sen.

“The traffic volume growth for the first half has shown significant improvement in line with the strong economic growth, coupled with a low traffic base in the first half of last year.

“We are confident that the group will end the year with a better performance than last year,” PLUS managing director Noorizah Abd Hamid said in a statement yesterday.

She said the group would venture into expressway operation and management including the provision of technical and consultancy services as well as toll operation and maintenance services to other highway operators, locally and abroad.

PLUS said during the first half of 2010, it completed three strategic acquisitions. They were Indu Navayuga Infra Project Pvt Ltd, the concessionaire for the 38.6km Padalur-Trichy Highway in India, Teras Teknologi Sdn Bhd, and a 20% stake in Touch ‘n Go Sdn Bhd.
Update (22/8/2010)

I have 4000 units of PLUS, buy at 3.74.  For time being, make a handsome RM1200 paper profit.  Intend to unload 2000 shares at 4.15 next week.  I also put trailing stop loss at 3.98, in case PLUS will going down further.  As  hari raya so closed, traffic surge on North South Highway will be evident.  My thinking is i will hold another 2000 units unless trailing stop loss will be breach.  Monday watchlist and bull:

1.  DRBHCOM.
2.  BOUSTEAD.
3.  LHH.
4.  LIONIND.

Update(23/8/2010)
I unload my 4000 units shares at target price 4.15 today, almost cash in rm 1600.00. Alhamdulillah. Just after sell it, the price goes higher to 4.17 and going down to 4.10, end of the day show doji candlestick. When doji candlestick at the highest level, it always show reversal point. So, i will wait for another opportunity. Another thing to consider is there may be exhaustion gap at 4.06-4.07 for the last push to the top before plunge to opening price. When exhaustion gap happen, possible retracement will occur soon.TQ
Update (24/8/2010)

Warning

---- Your buying and selling must be from your own decision, should not be influence by second party or third party.  I will not responsible for your loss and therefore u must be very careful when trading.  Trading is dangerous unless u take an effort to read and learn until such time u will be mastered by your reading and practice.  I take a great length to advise u because I have loss considerable amount of cash and will be recovered it if all my indicators pointing to the right direction. Disclaimer applied---


Hi All,

Not much to say when KLSE drop and blood red spread all over the market floor today.  Ramadhan will coming soon, people start to balik kampung for the celebrating  fasting month with lovely parent every week.  And this will increase the number of vehicles in Plus Expressway until Hari Raya Aidil Fitri.

"PLUS Expressways (PLUS) reported YTD traffic volume growth to June 2010 of 9.8% y-o-y for its core highways of North-South Expressway; New Klang Valley Expressway; Federal Highway Route 2 and Seremban-Port Dickson Highway. For the month of June alone, traffic volume was up by 10.1% y-o-y vs May of 7.6%. Its other highways of Elite, Linkedua and Butterworth-Kulim Expressway showed traffic volume growth of 14.2%, 21.4% and 10.8% respectively YTD"

Eventhough target price is 4.00, i believe the price will go higher during this month.  Just wait and see.

Ben