Company Info
My Analysis
Research House
Accounting Ratio
My notes based on 2011 quarter 4 report (number in '000):-
- Lower profit due to one-off exceptional items gain on preceding year corresponding quarter, if these items are excluded, the profits from operational activities have increased by 41%
- Lower pbt than preceding quarter mainly due to impairment charges on certain property, plant and equipment based on market value assessment
- Estimate next 4Q eps after 2011 Q4 result announced = (0.057+0.0374)*2*1.05 = 0.1982, estimate PE on current price 2.26 = 11.18(DPS 0.045)
- Estimate next 4Q eps after 2011 Q3 result announced = 0.057*4*0.8 = 0.1824, estimate highest/lowest PE = 13.46/9.02 (DPS 0.045)
- Estimate next 4Q eps after 2011 Q2 result announced = 0.0684*4*0.8 = 0.2189, estimate highest/lowest PE = 10.19/5.57 (DPS 0.04)
- Estimate next 4Q eps after 2011 Q1 result announced = 0.1873*0.95 = 0.1779, estimate highest/lowest PE = 7.59/5.79 (DPS 0.04)
- Estimate next 4Q eps after 2010 Q4 result announced = 0.0493*4*0.95 = 0.1873, estimate highest/lowest PE = 6.09/5.02 (DPS 0.04)
- Estimate next 4Q eps after 2010 Q3 result announced = 0.0428*4 = 0.1712, estimate highest/lowest PE = 7.42/5.37 (DPS 0.04)
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| Market Capital (Capital Size) | 4,369,115,735 (Large) |
| Par Value | RM 1.00 |
My Analysis
| Forecast P/E now | (2.26-0.045)/0.1982 = 11.18 (High) |
| Target Price | 1.98+0.045 = 2.03 (PE 10.0, EPS 0.1982, DPS 0.045) |
| Decision | Not interested unless profit increase more |
| Comment | Revenue increased 24.5% and also higher than preceding year corresponding quarter 25.6%, eps decreased 34.4% and also lower than preceding year corresponding quarter 72.1%, cash generated from operating more than enough to cover all expenses, profit margin decreasing, automotive division strong growing |
| First Support Price | 2.15 |
| Second Support Price | 1.7 |
| Risk Rating | MODERATE |
Research House
| HwangDBS Target Price | 3.8 (2011-04-25) |
| RHB Target Price | 3.05 (2011-06-03) |
Accounting Ratio
| Return on Equity | 7.70% |
| Dividend Yield | 2.65% |
| Profit Margin | 6.74% |
| Tax Rate | 32.84% |
| Asset Turnover | 0.2428 |
| Net Asset Value Per Share | 2.58 |
| Net Tangible Asset per share | 2.46 |
| Price/Net Tangible Asset Per Share | 0.91 |
| Cash Per Share | 5.45 |
| Liquidity Current Ratio | 0.73 |
| Liquidity Quick Ratio | 0.6258 |
| Liquidity Cash Ratio | 0.5517 |
| Gearing Debt to Equity Ratio | 4.396 |
| Gearing Debt to Asset Ratio | 0.7812 |
| Working capital per thousand Ringgit sale | -75.8% |
| Days to sell the inventory | 111 |
| Days to collect the receivables | 76 |
| Days to pay the payables | 1038 |
My notes based on 2011 quarter 4 report (number in '000):-
- Lower profit due to one-off exceptional items gain on preceding year corresponding quarter, if these items are excluded, the profits from operational activities have increased by 41%
- Lower pbt than preceding quarter mainly due to impairment charges on certain property, plant and equipment based on market value assessment
- Estimate next 4Q eps after 2011 Q4 result announced = (0.057+0.0374)*2*1.05 = 0.1982, estimate PE on current price 2.26 = 11.18(DPS 0.045)
- Estimate next 4Q eps after 2011 Q3 result announced = 0.057*4*0.8 = 0.1824, estimate highest/lowest PE = 13.46/9.02 (DPS 0.045)
- Estimate next 4Q eps after 2011 Q2 result announced = 0.0684*4*0.8 = 0.2189, estimate highest/lowest PE = 10.19/5.57 (DPS 0.04)
- Estimate next 4Q eps after 2011 Q1 result announced = 0.1873*0.95 = 0.1779, estimate highest/lowest PE = 7.59/5.79 (DPS 0.04)
- Estimate next 4Q eps after 2010 Q4 result announced = 0.0493*4*0.95 = 0.1873, estimate highest/lowest PE = 6.09/5.02 (DPS 0.04)
- Estimate next 4Q eps after 2010 Q3 result announced = 0.0428*4 = 0.1712, estimate highest/lowest PE = 7.42/5.37 (DPS 0.04)
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