MUDAJYA / 5085 - 2009 Q4

OSK TP: 6.48
My TP: 6.17+0.036=6.21 (PE 14, EPS 0.4408, DPS 0.036)
My decison: BUY
Reason: Undervalue, revenue growth, good cash flow

My study based on 2009 Q4 report (number in '000):
- The growth in revenue and profit before taxation were mainly attributable to the increased level of activities
- My estimate next 4Q eps after 2009 Q4 result announced = 0.1102*4 = 0.4408, estimate PE on current price 5.38 = 12.12(DPS 0.036)
- Estimate next 4Q eps after 2009 Q3 result announced = 0.0948*4 = 0.3792, estimate highest/lowest PE = 13.76/10.68 (DPS 0.031)
- Estimate next 4Q eps after 2009 Q2 result announced = 0.0711*4 = 0.2844, estimate highest/lowest PE = 14.31/11.25 (DPS 0.031)
- Estimate next 4Q eps after 2009 Q1 result announced = 0.0377*4 = 0.1508, estimate highest/lowest PE = 24.6/9.08 (DPS 0.031)
- Estimate next 4Q eps after 2008 Q4 result announced = 0.0278*4 = 0.1112, estimate highest/lowest PE = 13.98/9.58 (DPS 0.045)