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Thursday, June 23, 2011

KLCI Stock - ASIABIO / 0150 - 2012 Quarter 1

Company Info
Market Capital (Capital Size)19,635,000 (Very Small)
Par ValueRM 0.10

My Analysis
Forecast P/E now0.055/0.0017 = 32.35 (High)
Target Price0.0017*4.0 = 0.01 (PE 4.0, EPS 0.0017)
DecisionNot interested unless revenue and profit stabilize more
Revenue decreased 7.3% and also lower than preceding year corresponding quarter 77.8%, eps decreased 166.7% and is third consecutive quarter decreasing and also lower than preceding year corresponding quarter 260%, no cash generated from operating and cash generated from financing activity also finish spent on investing activities, weakeaning liquidity but still at high level now, higher gearing ratio but still at low level now, receivables turnover period getting longer but working capital no increase, IT division back to contribution again
First Support Price0.06
Second Support Price0.055
Risk RatingHIGH

Accounting Ratio
Return on Equity-1.85%
Dividend Yield-
Profit Margin36.94%
Tax Rate-
Asset Turnover0.0598
Net Asset Value Per Share0.12
Net Tangible Asset per share0.08
Price/Net Tangible Asset Per Share0.69
Cash Per Share0.0
Liquidity Current Ratio3.991
Liquidity Quick Ratio3.3253
Liquidity Cash Ratio0.8579
Gearing Debt to Equity Ratio0.1042
Gearing Debt to Asset Ratio0.0856
Working capital per thousand Ringgit sale174.6%
Days to sell the inventory184
Days to collect the receivables499
Days to pay the payables241

My notes based on 2012 quarter 1 report (number in '000):-
- Revenue and profit before taxation for the period was mainly derived from contribution from our newly acquired incubatee, Ecompazz IT Sdn Bhd ("eCompazz") in the form of IT services fees and sales of our agro/biotechnology division with our new venture into paddy plantation in Cambodia using our microbial biotechnology planting methodology

- Estimate next 4Q eps after 2012 Q1 result announced = 0.0004*4*1.05 = 0.0017, estimate PE on current price 0.055 = 32.35
- Estimate next 4Q eps after 2011 Q4 result announced = (0.001+0.0023)/2 = 0.0017, estimate highest/lowest PE = 47.06/32.35
- Estimate next 4Q eps after 2011 Q3 result announced = 0.0042, estimate highest/lowest PE = 20.24/13.1
- Estimate next 4Q eps after 2011 Q2 result announced = 0.0042, estimate highest/lowest PE = 19.05/14.29
- Estimate next 4Q eps after 2011 Q1 result announced = 0.0036+0.0006(average of eps per quarter in year 2009)*4 = 0.006, estimate highest/lowest PE = 14.17/10.08

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