Company Info
My Analysis
Research House
Accounting Ratio
My notes based on 2010 quarter 3 report (number in '000):-
- The Group recorded an operating profit of RM122.7 million for the third quarter ended 30 September 2010 (Quarter ended 30 September 2009: RM77.4 million loss) mainly due to higher operating revenue and improvement in its yield
- The Group recorded a profit after tax of RM233.9 million (Quarter ended 30 September 2009: RM299.1 million loss) after including amongst others, derivative gain of RM155.7 million (Quarter ended 30 September 2009: RM202.1 million loss)
- The Group recorded an operating profit for the quarter of RM122.7 million compared to operating loss of RM285.6 million in the previous quarter mainly due to higher operating revenue and improvement in its yield. The Group recorded a profit after tax of RM233.9 million after including amongst others, derivative gain of RM155.7 million for the quarter as compared to loss after tax of RM533.6 million in previous quarter
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| Market Capital (Capital Size) | 6,985,106,541 (Very Large) |
| Par Value | RM 1.00 |
My Analysis
| Forecast P/E now | 2.09/0.24 = 8.71 (Moderate) |
| Target Price | 0.24*12.0 = 2.88 (PE 12.0, EPS 0.24) |
| Decision | NOT BUY |
| Comment | Revenue is highest since FY09Q1 but still lower than FY08 and earlier, eps largely increased from preceding quarter and preceding year corresponding quarter, No free cash flow and no positive net cash flow, liquidity ratio decreasing at weak level now, high gearing ratio, all accounting period are acceptable compared to historical quarter |
| First Support Price | 1.9 |
| Second Support Price | 1.8 |
| Risk Rating | HIGH |
Research House
| TA Target Price | 2.5 (2010-05-03) |
| AM Target Price | 3.5 (2010-06-17) |
| CIMB Target Price | 3 (2010-08-17) |
| Maybank Target Price | 2.61 (2010-09-24) |
| RHB Target Price | 2.31 (2010-10-27) |
| Hong Leong Target Price | 2.27 (2010-11-09) |
| ECM Target Price | 2.95 (2010-11-26) |
| OSK Target Price | 1.58 (2010-11-26) |
| HwangDBS Target Price | 2.01 (2010-12-13) |
Accounting Ratio
| Return on Equity | 85.95% |
| Dividend Yield | - |
| Profit Margin | 7.11% |
| Tax Rate | 0.92% |
| Asset Turnover | 1.0501 |
| Net Asset Value Per Share | 1.02 |
| Net Tangible Asset per share | 0.99 |
| Price/Net Tangible Asset Per Share | 2.08 |
| Cash Per Share | 0.65 |
| Liquidity Current Ratio | 0.7243 |
| Liquidity Quick Ratio | 0.6514 |
| Liquidity Cash Ratio | 0.4054 |
| Gearing Debt to Equity Ratio | 2.6617 |
| Gearing Debt to Asset Ratio | 0.7261 |
| Working capital per thousand Ringgit sale | -12.2% |
| Days to sell the inventory | 11 |
| Days to collect the receivables | 40 |
| Days to pay the payables | 110 |
My notes based on 2010 quarter 3 report (number in '000):-
- The Group recorded an operating profit of RM122.7 million for the third quarter ended 30 September 2010 (Quarter ended 30 September 2009: RM77.4 million loss) mainly due to higher operating revenue and improvement in its yield
- The Group recorded a profit after tax of RM233.9 million (Quarter ended 30 September 2009: RM299.1 million loss) after including amongst others, derivative gain of RM155.7 million (Quarter ended 30 September 2009: RM202.1 million loss)
- The Group recorded an operating profit for the quarter of RM122.7 million compared to operating loss of RM285.6 million in the previous quarter mainly due to higher operating revenue and improvement in its yield. The Group recorded a profit after tax of RM233.9 million after including amongst others, derivative gain of RM155.7 million for the quarter as compared to loss after tax of RM533.6 million in previous quarter
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MAS latest news (Chinese)
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