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Monday, July 11, 2011

KLCI Stock - CARLSBG / 2836 - 2011 Quarter 1

Company Info
Market Capital (Capital Size)2,307,504,220 (Large)
Par ValueRM 0.50

My Analysis
Forecast P/E now(7.49-0.58)/0.5716 = 12.09 (Moderate)
Target Price8.00+0.58 = 8.58 (PE 14.0, EPS 0.5716, DPS 0.58)
Revenue increased 24.9% and also higher than preceding year corresponding quarter 7.6%, eps increased 60.6% and also higher than preceding year corresponding quarter 29.3%, no cash generated from operating and financing, spent 41.6% of total cash, stronger liquidity ratio but still at low level now, lower gearing ratio at below moderate level now, all accounting ratio are good, Malaysia & Singapore business growth
First Support Price7.16
Second Support Price6.8

Research House
AMMB Target Price7.3 (2011-03-10)
RHB Target Price7.96 (2011-04-21)
Maybank Target Price8 (2011-05-12)
OSK Target Price8 (2011-05-12)

Accounting Ratio
Return on Equity24.57%
Dividend Yield7.74%
Profit Margin15.79%
Tax Rate23.20%
Asset Turnover1.5009
Net Asset Value Per Share2.06
Net Tangible Asset per share0.75
Price/Net Tangible Asset Per Share9.64
Cash Per Share0.19
Liquidity Current Ratio1.6093
Liquidity Quick Ratio1.3958
Liquidity Cash Ratio0.2644
Gearing Debt to Equity Ratio0.4717
Gearing Debt to Asset Ratio0.3194
Working capital per thousand Ringgit sale9.8%
Days to sell the inventory14
Days to collect the receivables66
Days to pay the payables59

My notes based on 2011 quarter 1 report (number in '000):-
- The higher revenue & profit were primarily driven by a successful Chinese New Year sales campaign

- Estimate next 4Q eps after 2011 Q1 result announced = (0.1601+0.0997)*2*1.1 = 0.5716, estimate PE on current price 7.49 = 12.09(DPS 0.58)

CARLSBG latest news (English)

CARLSBG latest news (Chinese)

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