Our website is made possible by displaying non-intrusive online advertisements to our visitors.
Please consider supporting us by disabling or pausing your ad blocker.
the core issues with ptrans are high capitalisation of sukuk interest which inflates profit and receivables concentration. Sukuk 2 being used to clear sukuk 1. It will be interesting if company continues to capitalise sukuk 2 interest. Market has adjusted it accordingly by adding back the capitalised interest into the expense; adjusted pbt. Will be lower if market were to price in the risk of impairment for the receivables.