10-01-2024, 09:41 AM
Propel Global (Bursa Malaysia: PGB) is an energy services company. The Bursa energy sector did not do very well over the past decade as can be seen from the ROA trend of the sector. Refer to the top chart.
![[Image: PGB.png]](https://i.postimg.cc/L5cJb3t3/PGB.png)
When I looked at PGB performance, I found that for most of the decade, its ROA underperformed my reference Bursa energy services company – Dayang. It only did better over the past 2 years. Refer to bottom chart.
Is PRG turning around? I would not look at its 2022 results as a big part of the profits came from a one-off disposal of assets. I am a long term investor holding onto stocks for > 5 years. So I look for long term performance rather than one particular year. As such I would not look at PGB.
Sure there may be new management, but until there is a longer track record from them, I would KIV this counter.
When I looked at PGB performance, I found that for most of the decade, its ROA underperformed my reference Bursa energy services company – Dayang. It only did better over the past 2 years. Refer to bottom chart.
Is PRG turning around? I would not look at its 2022 results as a big part of the profits came from a one-off disposal of assets. I am a long term investor holding onto stocks for > 5 years. So I look for long term performance rather than one particular year. As such I would not look at PGB.
Sure there may be new management, but until there is a longer track record from them, I would KIV this counter.