Company Info
My Analysis
Accounting Ratio
My notes based on 2011 quarter 3 report (number in '000):-
- For the current quarter compared to preceding year corresponding quarter, the Group revenue was higher primarily generated from engineering division which managed to secure some fast-track projects during the year. PAT improved significantly largely attributed to higher margin and revenue, and lower overheads across the business segments
- Engineering division has contributed significantly to the revenue growth as the new projects were progressing smoothly during the current quarter but lower margin from some of the existing projects has affected the Group PAT
- Estimate next 4Q eps after 2011 Q3 result announced = 0.0042*4*1.05 = 0.0176, estimate PE on current price 0.505 = 28.69
- Estimate next 4Q eps after 2011 Q2 result announced = 0.0065*4 = 0.026, estimate highest/lowest PE = 23.65/16.15
- Estimate next 4Q eps after 2011 Q1 result announced = 0.0059*4 = 0.0236, estimate highest/lowest PE = 25.42/17.8
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| Market Capital (Capital Size) | 67,011,099 (Very Small) |
| Par Value | RM 0.50 |
My Analysis
| Forecast P/E now | 0.505/0.0176 = 28.69 (High) |
| Target Price | 0.0176*5.0 = 0.09 (PE 5.0, EPS 0.0176) |
| Decision | Not interested unless profit margin increase more |
| Comment | Revenue increased 25.9% and is second consecutive quarter increasing and also higher than preceding year corresponding quarter 73.9%, eps decreased 79.6% but is recover from loss in preceding year corresponding quarter, cash generated from operating is not enough to cover increased receivables hence still increased borrowing, liquidity ratio increasing at low level now, gearing ratio increasing at very high level now, still high receivables compare to working capital, continuing affect by weakening of USD and Europe currencies |
| First Support Price | 0.42 |
| Second Support Price | 0.4 |
| Risk Rating | HIGH |
Accounting Ratio
| Return on Equity | 3.63% |
| Dividend Yield | - |
| Profit Margin | 1.07% |
| Tax Rate | 6.12% |
| Asset Turnover | 0.9245 |
| Net Asset Value Per Share | 0.78 |
| Net Tangible Asset per share | 0.76 |
| Price/Net Tangible Asset Per Share | 0.64 |
| Cash Per Share | 0.28 |
| Liquidity Current Ratio | 1.2672 |
| Liquidity Quick Ratio | 1.0853 |
| Liquidity Cash Ratio | 0.1291 |
| Gearing Debt to Equity Ratio | 3.3826 |
| Gearing Debt to Asset Ratio | 0.7418 |
| Working capital per thousand Ringgit sale | 17.4% |
| Days to sell the inventory | 46 |
| Days to collect the receivables | 227 |
| Days to pay the payables | 78 |
My notes based on 2011 quarter 3 report (number in '000):-
- For the current quarter compared to preceding year corresponding quarter, the Group revenue was higher primarily generated from engineering division which managed to secure some fast-track projects during the year. PAT improved significantly largely attributed to higher margin and revenue, and lower overheads across the business segments
- Engineering division has contributed significantly to the revenue growth as the new projects were progressing smoothly during the current quarter but lower margin from some of the existing projects has affected the Group PAT
- Estimate next 4Q eps after 2011 Q3 result announced = 0.0042*4*1.05 = 0.0176, estimate PE on current price 0.505 = 28.69
- Estimate next 4Q eps after 2011 Q2 result announced = 0.0065*4 = 0.026, estimate highest/lowest PE = 23.65/16.15
- Estimate next 4Q eps after 2011 Q1 result announced = 0.0059*4 = 0.0236, estimate highest/lowest PE = 25.42/17.8
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