Company Info
My Analysis
Research House
Accounting Ratio
My notes based on 2011 quarter 1 report (number in '000):-
- Lower revenue than FY10Q4 mainly arising from global bandwidth sales recognised in the immediately preceding quarter. Global bandwidth is a non-recurring business and no sales were recorded in the current quarter
- Lower pbt than FY10Q4 mainly due to lower dividend income received from the investment in
quoted securities in the current quarter and lower revenue
- Higher revenue than FY10Q1 mainly due to higher revenue from the Group’s data business offset by a reduction in voice revenue
- Higher pbt than FY10Q1 attributed mainly to higher revenue, improved margins and lower wayleave fees
- Estimate next 4Q eps after 2011 Q1 result announced = 0.009*4*1.05 = 0.0378, estimate PE on current price 0.745 = 19.71
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| Market Capital (Capital Size) | 1,885,427,375 (Large) |
| Par Value | RM 1.00 |
My Analysis
| Forecast P/E now | 0.745/0.0378 = 19.71 (High) |
| Target Price | 0.0378*14.0 = 0.53 (PE 14.0, EPS 0.0378) |
| Decision | Not interested unless revenue and profit increase more |
| Comment | Revenue decreased 18.1% but higher than preceding year corresponding quarter 7.7%, eps decreased 48.6% but higher than preceding year corresponding quarter 21.6%, cash generated from operating is enough to cover all expenses, weaker liquidity ratio at low level now, higher gearing ratio but still at low level now, payables and receivables ratio also high, benefit from lower wayleave fees |
| First Support Price | 0.695 |
| Second Support Price | 0.63 |
| Risk Rating | HIGH |
Research House
| Macquarie Target Price | 0.94 (2011-02-14) |
| HLG Target Price | 0.95 (2011-04-01) |
Accounting Ratio
| Return on Equity | 8.97% |
| Dividend Yield | - |
| Profit Margin | 32.66% |
| Tax Rate | - |
| Asset Turnover | 0.2039 |
| Net Asset Value Per Share | 0.55 |
| Net Tangible Asset per share | 0.55 |
| Price/Net Tangible Asset Per Share | 1.45 |
| Cash Per Share | 0.09 |
| Liquidity Current Ratio | 1.7812 |
| Liquidity Quick Ratio | 1.7812 |
| Liquidity Cash Ratio | 1.0437 |
| Gearing Debt to Equity Ratio | 0.1565 |
| Gearing Debt to Asset Ratio | 0.1353 |
| Working capital per thousand Ringgit sale | 50.8% |
| Days to sell the inventory | - |
| Days to collect the receivables | 174 |
| Days to pay the payables | 331 |
My notes based on 2011 quarter 1 report (number in '000):-
- Lower revenue than FY10Q4 mainly arising from global bandwidth sales recognised in the immediately preceding quarter. Global bandwidth is a non-recurring business and no sales were recorded in the current quarter
- Lower pbt than FY10Q4 mainly due to lower dividend income received from the investment in
quoted securities in the current quarter and lower revenue
- Higher revenue than FY10Q1 mainly due to higher revenue from the Group’s data business offset by a reduction in voice revenue
- Higher pbt than FY10Q1 attributed mainly to higher revenue, improved margins and lower wayleave fees
- Estimate next 4Q eps after 2011 Q1 result announced = 0.009*4*1.05 = 0.0378, estimate PE on current price 0.745 = 19.71
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