Company Info
My Analysis
Accounting Ratio
My notes based on 2011 quarter 4 report (number in '000):-
- Lower revenue primarily due to lower revenue from Engineering division as substantial part of the projects was completed in previous quarters
- Significant loss largely attributable to significant provisions by the Engineering divisions for impairment of long term contracts, provisions for additional costs to complete projects previously undertaken, fair value adjustments for receivables and inventory written-off
- Estimate next 4Q eps after 2011 Q4 result announced = 72198*0.025/132695 = 0.0136, estimate PE on current price 0.23 = 16.91
- Estimate next 4Q eps after 2011 Q3 result announced = 0.0042*4*1.05 = 0.0176, estimate highest/lowest PE = 29.55/22.73
- 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) | 30,519,906 (Very Small) |
| Par Value | RM 0.50 |
My Analysis
| Forecast P/E now | 0.23/0.0136 = 16.91 (High) |
| Target Price | 0.0136*4.0 = 0.05 (PE 4.0, EPS 0.0136) |
| Decision | Not interested unless revenue and profit increase more |
| Comment | Revenue decreased 46.9% and also lower than preceding year corresponding quarter 65.7%, eps largely loss than preceding quarter and preceding year corresponding quarter, cash generated from operating and financing also not enough to cover all expenses, weaker liquidity ratio at low level now, higher gearing ratio at very high level now, receivables and payables ratio are high, continuing affect by weakening of USD and Europe currencies |
| First Support Price | 0.18 |
| Second Support Price | 0.16 |
| Risk Rating | HIGH |
Accounting Ratio
| Return on Equity | -65.10% |
| Dividend Yield | - |
| Profit Margin | -87.24% |
| Tax Rate | - |
| Asset Turnover | 0.7593 |
| Net Asset Value Per Share | 0.4 |
| Net Tangible Asset per share | 0.38 |
| Price/Net Tangible Asset Per Share | 1.09 |
| Cash Per Share | 0.48 |
| Liquidity Current Ratio | 1.099 |
| Liquidity Quick Ratio | 0.9105 |
| Liquidity Cash Ratio | 0.2148 |
| Gearing Debt to Equity Ratio | 6.7268 |
| Gearing Debt to Asset Ratio | 0.8323 |
| Working capital per thousand Ringgit sale | 8.9% |
| Days to sell the inventory | 60 |
| Days to collect the receivables | 225 |
| Days to pay the payables | 100 |
My notes based on 2011 quarter 4 report (number in '000):-
- Lower revenue primarily due to lower revenue from Engineering division as substantial part of the projects was completed in previous quarters
- Significant loss largely attributable to significant provisions by the Engineering divisions for impairment of long term contracts, provisions for additional costs to complete projects previously undertaken, fair value adjustments for receivables and inventory written-off
- Estimate next 4Q eps after 2011 Q4 result announced = 72198*0.025/132695 = 0.0136, estimate PE on current price 0.23 = 16.91
- Estimate next 4Q eps after 2011 Q3 result announced = 0.0042*4*1.05 = 0.0176, estimate highest/lowest PE = 29.55/22.73
- 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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