KLCI Stock - DXN / 5074 - 2012 Quarter 1

DXN HOLDINGS BERHAD

Company Description

DXN HOLDINGS BERHAD is a Malaysia-based investment holding and provision of management services. The Company operates in five business segments: multi-level marketing, which is engaged in the manufacture and sale of health supplements, and other products on a multi-level marketing basis; property development, which is engaged in housing developing and contracting; energy, which is engaged in the manufacture and sale of biodiesel, and other incidental products; investment holding, which is engaged in investment holding and provision of management services, and others, which is engaged in travel agency and tour operation, information technology consultancy and advisory wholesale and retail of stationeries, household items, gifts and accessories. During the fiscal year ended February 29, 2008, the Company incorporated a 65%-owned subsidiary, Borneo Bio Best (Sabah) Sdn. Bhd. Its product lines include dietary supplements, food and beverages, personal care products and household products.

Company Info

Listing Date	2003-09-30
Market Capital (Capital Size)	351,515,440 (Small)
Par Value	RM 0.25
Board	Main
Sector	Consumer Products
Major Industry	Multi-level Marketing of Healthcare Products
Sub Industry	Property Development
Website	http://www.dxn2u.com/

My Analysis

Forecast P/E now	(1.46-0.09)/0.1693 = 8.09 (Moderate)
Target Price	1.52+0.09 = 1.61 (PE 9.0, EPS 0.1693, DPS 0.09)
Decision	Watching, buy when macd lower
Comment	Revenue increased 5.6% and also higher than preceding year corresponding quarter 0.4%, eps increased 34.3% but lower than preceding year corresponding quarter 9%, cash generated from operating enough to cover financing expenses and almost all investing expenses, weaker liquidity ratio at moderate level now, lower gearing ratio at below moderate level now, all accounting ratio are good except inventory got slightly high
First Support Price	1.16
Second Support Price	1.1
Risk Rating	MODERATE

Accounting Ratio

Return on Equity	18.46%
Dividend Yield	6.85%
Profit Margin	19.21%
Tax Rate	28.82%
Asset Turnover	0.9422
Net Asset Value Per Share	0.97
Net Tangible Asset per share	0.94
Price/Net Tangible Asset Per Share	1.55
Cash Per Share	0.18
Liquidity Current Ratio	2.8984
Liquidity Quick Ratio	1.4862
Liquidity Cash Ratio	0.6988
Gearing Debt to Equity Ratio	0.332
Gearing Debt to Asset Ratio	0.2465
Working capital per thousand Ringgit sale	40.4%
Days to sell the inventory	137
Days to collect the receivables	52
Days to pay the payables	62

My notes based on 2012 quarter 1 report (number in '000):-
- Higher revenue & pbt due to higher revenue contributed from its Multi Level Marketing segment, despite lower revenue was recorded from Property segment

- Estimate next 4Q eps after 2012 Q1 result announced = 0.0403*4*1.05 = 0.1693, estimate PE on current price 1.46 = 8.09(DPS 0.09)
- Estimate next 4Q eps after 2012 Q4 result announced = (0.03+0.0541)*2*1.05 = 0.1766, estimate highest/lowest PE = 7.96/6.09 (DPS 0.085)
- Estimate next 4Q eps after 2011 Q3 result announced = 0.0505*4*1.05 = 0.2121, estimate highest/lowest PE = 6.91/5.63 (DPS 0.085)
- Estimate next 4Q eps after 2011 Q2 result announced = 0.1465*1.05 = 0.1538, estimate highest/lowest PE = 8.99/4.5 (DPS 0.0375)
- Estimate next 4Q eps after 2010 Q4 result announced = 0.1238*0.9 = 0.1114(10% drop), estimate highest/lowest PE = 6.24/4.44 (DPS 0.035)
- Estimate next 4Q eps after 2010 Q3 result announced = 0.0397*4*0.8 = 0.127, estimate highest/lowest PE = 5.28/4.49 (DPS 0.035)
- Estimate next 4Q eps after 2010 Q2 result announced = 0.0615*2 = 0.123, estimate highest/lowest PE = 5.81/4.11 (DPS 0.035)
- Estimate next 4Q eps after 2010 Q1 result announced = 0.0874*1.1 = 0.0961, estimate highest/lowest PE = 6.87/3.64 (DPS 0.03)

DXN latest news (English)

DXN latest news (Chinese)



Financial Quarter Summary

a_date	year	qrt	h_price	l_price	div	roe	c_roe	rev	c_rev	pbt	c_pbt	prof	c_prof	eps	c_eps	asset	liab	mino	equi	cfo	cfi	cff	cash	fcf	net	final	share	c_share	m_cap	date	prof_m	vat	asset_t	pe	navps	ntaps	p/ntaps	cps	l_cur	l_qui	l_cash	g_de	g_da	avg_w	inv_d	rec_d	pay_d
2011-07-25	2012	1	N/A	N/A	0.0225	4.08%	4.08%	68095	68095	13084	13084	9117	9117	0.0403	0.0403	296777	73164	3248	223613	10793	2695	8248	39575	8098	150	39425	226509	226509	330703	2011-05-31	19.21%	28.82%	0.9422	-	0.97	0.94	1.55	0.18	2.8984	1.4862	0.6988	0.332	0.2465	40.4%	137	52	62
2011-04-28	2011	4	1.49	1.16	0.02	3.11%	18.86%	64504	279342	11196	54263	6800	41204	0.0300	0.1815	292849	74399	3050	218450	65732	1331	55529	30549	64401	8872	39421	226997	226997	295096	2011-02-28	17.36%	38.77%	0.9539	7.1618	0.95	0.91	1.43	0.18	2.924	1.548	0.7189	0.3454	0.2541	39.9%	130	54	57
2011-01-18	2011	3	1.55	1.28	0.03	5.47%	15.64%	64580	214838	15233	43067	12039	34404	0.0530	0.1514	293336	73362	3001	219974	53005	81	47697	31022	52924	5227	36249	227180	227180	340770	2010-11-30	23.59%	19.95%	0.9374	-	0.96	0.91	1.65	0.17	3.2204	1.6464	0.6993	0.3381	0.2501	44.4%	142	61	53
2010-10-18	2011	2	1.57	1.2	0.0275	5.80%	10.55%	82458	150258	15311	27834	12289	22365	0.0541	0.0984	290161	78108	2693	212053	44716	1287	41315	30633	46003	4688	35321	227217	227217	309015	2010-08-31	18.57%	18.73%	0.9399	-	0.92	0.87	1.56	0.17	3.0918	1.5486	0.6773	0.3731	0.2692	42.8%	141	56	58
2010-07-28	2011	1	1.42	0.73	0.02	4.90%	4.90%	67800	67800	12523	12523	10076	10076	0.0443	0.0443	307428	101713	2738	205715	20931	1979	17604	31301	22910	5306	36607	227224	227224	163601	2010-05-31	18.47%	19.32%	0.8553	-	0.89	0.84	0.86	0.19	1.981	0.9878	0.458	0.5011	0.3309	35.4%	159	60	61
2010-04-29	2010	4	0.73	0.53	0.0075	2.61%	14.48%	60137	259939	7312	36726	5125	28410	0.0226	0.1238	313029	116843	-	196186	38301	7567	37091	38464	30734	6357	32107	227227	229483	143153	2010-02-28	12.16%	29.91%	0.8304	5.0889	0.85	0.8	0.79	0.19	1.8437	0.9611	0.4035	0.5956	0.3733	34.2%	155	72	52
2010-01-26	2010	3	0.705	0.605	0.01	4.71%	12.11%	62339	199802	12072	29414	9061	23285	0.0397	0.1011	321482	129139	-	192343	37844	17337	19607	38273	20507	900	39173	228111	230317	153974	2009-11-30	19.37%	24.94%	0.8108	-	0.84	0.78	0.87	0.22	1.7993	0.985	0.4671	0.6714	0.4017	33.0%	146	72	51
2009-10-27	2010	2	0.75	0.54	0.01	4.93%	7.62%	72681	137463	10773	17342	9212	14224	0.0400	0.0615	337146	150366	-	186780	23016	6968	5328	38455	16048	21376	59831	230543	231285	145242	2009-08-31	14.82%	14.49%	0.7982	-	0.81	0.75	0.84	0.29	3.7654	2.136	1.1527	0.805	0.446	59.5%	146	70	55
2009-07-30	2010	1	0.69	0.38	0.0075	2.77%	2.77%	64782	64782	6569	6569	5012	5012	0.0216	0.0216	323324	142312	-	181012	9519	4639	1357	38341	4880	6237	44578	232305	232305	92922	2009-05-31	10.14%	23.70%	0.8301	-	0.78	0.72	0.56	0.24	4.0449	2.226	1.1003	0.7862	0.4402	56.9%	141	68	50
2009-04-29	2009	4	0.445	0.335	0.0125	3.58%	11.46%	60871	276730	8788	27218	6356	20334	0.0273	0.0874	318304	140814	-	177490	34207	3431	13641	21153	30776	17135	38288	232612	232612	74435	2009-02-28	14.44%	27.67%	0.8694	3.6607	0.76	0.7	0.46	0.21	4.1456	2.4021	1.0006	0.7934	0.4424	54.8%	125	81	52
2009-01-22	2009	3	0.36	0.21	-	2.72%	8.74%	70768	215851	4079	18813	4652	14960	0.0200	0.0643	308629	137492	-	171137	16628	3950	5741	20821	12678	6937	27758	232612	232612	82577	2008-11-30	5.76%	-	0.9171	-	0.74	0.72	0.49	0.16	4.4893	2.5757	0.8497	0.8034	0.4455	53.8%	121	90	35
2008-10-29	2009	2	0.4	0.27	-	3.69%	6.12%	71978	145083	8666	14734	6224	10308	0.0267	0.0443	317660	149165	-	168495	6360	3271	783	21777	3089	3872	25649	232689	232689	65152	2008-08-31	12.04%	28.18%	0.8417	-	0.72	0.71	0.39	0.14	3.7196	2.1356	0.6013	0.8853	0.4696	55.3%	134	107	49
2008-07-24	2009	1	0.43	0.28	-	2.53%	2.53%	73105	73105	6068	6068	4084	4084	0.0175	0.0175	315493	153986	-	161507	9188	2938	1378	21650	6250	7628	29278	232873	232873	109450	2008-05-31	8.30%	32.70%	0.7962	-	0.69	0.68	0.69	0.17	3.4527	2.0828	0.6684	0.9534	0.4881	56.2%	132	111	60
2008-04-29	2008	4	0.56	0.345	-	2.20%	12.19%	67183	225152	8227	28671	3503	19449	0.0150	0.0839	304855	145356	-	159499	7862	18794	8198	41467	10932	19130	22337	232903	231812	130425	2008-02-29	12.25%	57.42%	0.7553	6.6746	0.69	0.67	0.84	0.14	3.8698	2.2496	0.6613	0.9113	0.4768	61.3%	148	115	55
2008-01-29	2008	3	0.56	0.42	-	2.94%	10.07%	55107	163070	6966	21477	4614	15817	0.0198	0.0684	299358	142358	-8	157000	428	19296	6767	41421	18868	25635	15786	232904	231243	116452	2007-11-30	12.64%	33.81%	0.7121	-	0.68	0.66	0.76	0.1	4.1777	2.3307	0.5291	0.9067	0.4755	65.5%	163	129	62
2007-10-29	2008	2	0.58	0.485	-	3.94%	7.34%	55785	107963	7518	14511	6006	11203	0.0260	0.0486	301708	149103	-5	152605	1788	15537	1283	41196	17325	18608	22588	231266	230514	143384	2007-08-31	13.48%	20.16%	0.5239	-	0.66	0.65	0.95	0.13	3.6173	1.9788	0.5663	0.977	0.4942	86.1%	231	162	93
2007-07-26	2008	1	N/A	N/A	-	3.57%	3.57%	52178	52178	6993	6993	5197	5197	0.0226	0.0226	290168	144700	-1	145468	853	11639	2235	40585	12492	14727	25858	230046	230046	165633	2007-05-31	13.40%	25.70%	0.3525	-	0.63	0.62	1.16	0.14	3.7047	2.0056	0.6511	0.9947	0.4987	130.3%	351	228	146
2007-04-25	2007	4	N/A	N/A	0.0125	6.34%	17.21%	50108	199459	6916	28185	8826	23951	0.0378	0.1012	283860	144660	-	139200	14833	27874	41595	41756	42707	1112	40644	233622	236670	143677	2007-02-28	13.80%	-	0.1765	6.0771	0.59	0.58	1.06	0.19	3.8191	2.2322	0.9183	1.0392	0.5096	277.7%	670	454	305

Financial Quarter Balance Sheet

year	qrt	Deferred tax assets (A-0)	Goodwill on consolidation (A-0)	Intangible assets (A-0)	Investment in associated companies (A-0)	Investment properties (A-0)	Land held for property development (A-0)	Other investments (A-0)	Prepaid lease payments (A-0)	Property, plant and equipment (A-0)	Cash and cash equivalents (A-1)	Current asset classified as held for sales (A-1)	Current tax assets (A-1)	Derivative assets (A-1)	Inventories (A-1)	Other receivables, deposits and prepayments (A-1)	Property development costs (A-1)	Trade receivables (A-1)	Deferred tax liabilities (L-0)	Loans & borrowings (L-0)	Current tax liabilities (L-1)	Derivative financial liabilities (L-1)	Derivative liabilities (L-1)	Dividend payable (L-1)	Loans & borrowings (L-1)	Other payables (L-1)	Payables and accruals (L-1)	Trade and other payables (L-1)	Minority interest (M-1)
2012	1	1373	-	8186	-	22175	7378	350	820	84000	41585	-	6388	635	53514	20096	30534	19743	386	13265	1794	-	51	4529	14914	-	32177	6048	3248
2011	4	1651	-	8331	-	22285	7378	350	808	82787	41614	-	5851	687	49387	22408	30264	19048	446	16067	2732	-	-	6373	13891	-	28905	5985	3050
2011	3	3305	-	10351	-	10763	7770	350	868	82690	38486	-	5645	399	44698	22865	41927	23219	135	18190	3650	-	210	5536	13457	24925	-	7259	3001
2011	2	3851	-	10987	-	10702	7770	850	916	82470	37812	-	5735	880	45856	20112	40299	21921	150	22128	4193	-	-	3976	12423	26492	-	8746	2693
2011	1	3131	-	11971	-	7527	7770	850	959	87229	43460	-	6161	1127	32035	20025	62221	22962	189	6627	3133	85	-	1278	54254	25293	-	10854	2738
2010	4	3180	-	11763	1890	7613	7770	850	1066	84841	42466	1389	5839	-	33302	23562	59599	27899	252	11338	3682	-	-	1704	68526	23381	-	7960	-
2010	3	2272	-	12467	1799	9322	9096	6525	14727	71902	50197	-	4479	-	33368	25748	54144	25436	200	21468	4487	-	-	1704	70873	22789	-	7618	-
2010	2	1888	-	13311	1737	6958	4099	6520	14896	69889	66689	-	5013	-	30326	24651	63942	27227	252	92259	2576	-	-	3453	16254	26215	-	9357	-
2010	1	1825	-	14135	1636	6352	3120	8523	14995	69820	55199	974	5389	-	29851	24033	61396	26076	327	91818	2471	-	-	-	15163	21484	-	11049	-
2009	4	1410	-	14182	1611	6064	1416	8519	14988	70381	48208	974	5062	-	35698	27642	48303	33846	466	92168	1967	-	-	-	11456	20900	-	13857	-
2009	3	3305	1815	1783	1565	6078	1416	8522	4899	83256	37094	-	5397	-	37768	32683	45775	37273	338	93497	2955	-	-	-	16213	19750	-	4739	-
2009	2	3340	1815	1783	1512	5982	1416	8526	4964	86132	32688	-	5063	-	42488	36715	43617	41619	229	94578	4928	-	-	-	18128	25254	-	6048	-
2009	1	3925	1815	1678	1442	5946	1416	8569	4823	87171	38470	-	5024	-	33137	34672	45701	41704	1076	95358	2963	-	-	-	18926	23294	-	12369	-
2008	4	3372	1815	1610	1368	5675	1416	8569	4856	85715	32549	-	5610	-	32414	35600	47325	36961	756	95383	2696	-	-	-	16659	23369	-	6493	-
2008	3	3825	1815	1521	1291	2359	1416	8574	5047	89910	23253	-	3957	-	31868	32264	49303	42955	1128	97282	790	-	-	-	12239	26714	-	4205	8
2008	2	4220	1815	1371	1231	2387	1416	8575	5158	87339	29463	-	3391	-	34145	29806	51100	40291	1194	95883	419	-	-	2125	15359	30242	-	3881	5
2008	1	3375	1815	1270	1147	2419	1416	8568	5153	82439	32085	-	2910	-	33587	26189	50144	37651	1006	94415	529	-	-	-	13813	27838	-	7099	1
2007	4	3296	1815	1212	1063	2441	1416	8587	5244	70281	45324	-	2530	-	32729	29042	45600	33280	896	94406	902	-	-	2099	10636	28514	-	7207	-

Financial Quarter Income Statement

year	qrt	Revenue	Income tax expense	Finance/interest costs	Administrative/Operating expenses	Minority interest	Finance/interest income	Share of profit/ (loss) of associates
2012	1	68095	3771	119	54892	196	-	-
2011	4	64504	4341	91	53217	55	-	0
2011	3	64580	3039	35	49312	155	-	0
2011	2	82458	2868	404	66743	154	-	0
2011	1	67800	2420	250	55090	27	-	63
2010	4	60137	2187	1710	51318	-	110	93
2010	3	62339	3011	1143	49377	-	191	62
2010	2	72681	1561	1203	61110	-	304	101
2010	1	64782	1557	1158	57080	-	-	25
2009	4	60871	2432	1219	51060	-	149	47
2009	3	70768	573	1216	65665	-	138	54
2009	2	71978	2442	1082	62445	-	145	70
2009	1	73105	1984	1276	65925	-	90	74
2008	4	67183	4724	1211	57955	-	134	76
2008	3	55107	2355	878	47610	3	287	60
2008	2	55785	1516	1311	47282	4	241	85
2008	1	52178	1797	1068	44444	1	243	84
2007	4	50108	1912	911	42692	2	320	91

Financial Quarter Segments Revenue

year	qrt	Others	Elimination/Adjustment	Property development	Investment holding	Multi-Level Marketing	Energy
2012	1	426	379	1343	-	66705	-
2011	4	2218	326	1904	-	60708	-
2011	3	1637	1223	419	-	63747	-
2011	2	956	474	14981	-	66995	-
2011	1	340	338	4046	-	63752	-
2010	4	504	3477	3661	3217	56232	-
2010	3	1138	11755	12494	2180	58282	-
2010	2	1646	2850	8950	2357	62578	-
2010	1	463	2562	8489	2263	56129	-
2009	4	596	2787	5370	2578	55114	-
2009	3	4728	3173	12923	2426	53863	1
2009	2	1153	3160	19365	2553	52067	-
2009	1	1147	2850	12235	2457	60115	1
2008	4	1133	35590	14125	14499	1836	-
2008	3	2933	25179	5990	6500	64863	-
2008	2	489	16382	6763	-	64915	-
2008	1	1077	21360	4203	-	68258	-

Financial Quarter Segments Profit

year	qrt	Others	Elimination/Adjustment	Property development	Investment holding	Multi-Level Marketing	Energy
2012	1	133	68	71	-	13339	-
2011	4	92	1642	419	-	10156	-
2011	3	716	1244	2704	-	13092	-
2011	2	956	3318	1233	-	18756	-
2011	1	243	1300	23	-	14230	-
2010	4	197	3541	373	5523	11371	-
2010	3	673	40	1011	102	12407	155
2010	2	652	4791	1004	1942	16727	79
2010	1	150	3785	70	9	11446	76
2009	4	56	418	77	42	9773	205
2009	3	245	2734	1182	779	7078	1447
2009	2	195	5696	2054	378	13845	97
2009	1	263	429	986	67	7172	219
2008	4	1286	14749	1534	11856	12635	762
2008	3	560	139	909	4503	1621	235
2008	2	243	21	177	2283	10727	104
2008	1	137	653	361	1431	9197	397

Short form reference
a_date = announcement date, yr = financial year end, qrt = quarter
h_price = stock highest price during the quarter, l_price = stock lowest price during the quarter
div = dividend recommend or declare in the quarter, roe = return on equity
c_roe = cumulative of return on equity during the financial year
rev = revenue in the current quarter, c_rev = cumulative of revenue during the financial year
pbt = profit before tax in the current quarter, c_pbt = cumulative of profit before tax during the financial year
eps = earnings per share in the current quarter, c_eps = cumulative of earnings per share during the financial year
asset = total asset, liab = total liability, mino = minority interest, equi = total equity
cfo = net cash flow from operating activities, cfi = net cash flow from investing activities
cff = net cash flow from financing activities, cash = cash and cash equivalents as at beginning of financial year
final = cash and cash equivalents as at current financial period ended
share = diluted/basic weighted average number of ordinary shares
c_share = cumulative of diluted/basic weighted average number of ordinary shares during the financial year
m_cap = market capital at announcement date of quarterly report, date = current financial period ended date
prof_m = profit margin, vat = income tax rate, pe = price earning per share ratio of recent four quarter
navps = net asset value per share, ntaps = net tangible asset per share, cps = cash per share
l_cur = liquidity current ratio, l_qui = liquidity quick ratio, l_cash = liquidity cash ratio
g_de = gearing debt to equity ratio, g_da = gearing debt to assets ratio
avg_w = working capital per thousand Ringgit sale
inv_d = days to sell the inventory, rec_d = days to collect the receivables
pay_d = days to pay the payables

CURRENT

---

●CHANGES IN SHAREHOLDING
●ANNUAL REPORTS

HISTORICAL

---

●CHANGES IN SHAREHOLDING

ARCHIVES

---

●CHANGES IN SHAREHOLDING

---

1-Year Historical Daily Chart


5-Year Historical Weekly Chart