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Saturday, December 31, 2011

KLCI Stock - BPURI / 5932 - 2011 Quarter 3

Company Info
Market Capital (Capital Size)106,647,296 (Small)
Par ValueRM 1.00

My Analysis
Forecast P/E now(0.875-0.02)/0.0926 = 9.23 (Moderate)
Target Price0.93+0.02 = 0.95 (PE 10.0, EPS 0.0926, DPS 0.02)
DecisionNot interested unless got strong buy volume and lower sell volume when stock price below 0.87
Comment
Revenue decreased 1.2% but higher than preceding year corresponding quarter 1%, eps decreased 59% and also lower than preceding year corresponding quarter 53.2%, no cash generated from operating but still got more than enough borrowings to cover all expenses, slightly better liquidity ratio at low level now, lower gearing ratio at very high level now, receivables and payables ratio still acceptable
First Support Price0.87
Second Support Price0.83
Risk RatingMODERATE

Research House
Kenanga Target Price1.5 (2011-07-28)
Wilson & York Target Price1.3 (2011-11-21)

Accounting Ratio
Return on Equity8.14%
Dividend Yield2.29%
Profit Margin1.96%
Tax Rate71.78%
Asset Turnover1.5848
Net Asset Value Per Share1.1
Net Tangible Asset per share1.1
Price/Net Tangible Asset Per Share0.8
Cash Per Share0.55
Liquidity Current Ratio1.0336
Liquidity Quick Ratio1.0131
Liquidity Cash Ratio0.0948
Gearing Debt to Equity Ratio5.5209
Gearing Debt to Asset Ratio0.8328
Working capital per thousand Ringgit sale1.7%
Days to sell the inventory4
Days to collect the receivables171
Days to pay the payables99

Technical Analysis
SMA 200.889 (Downtrend 1 day)
SMA 500.912 (Downtrend)
SMA 1000.988 (Downtrend)
SMA 2001.107 (Downtrend)
MACD-0.026611 (Uptrend 21 days)
MACD Histogram0.008891 (Uptrend 19 days)

My notes based on 2011 quarter 3 report (number in '000):-
- The improved performance of construction division was mainly attributable to progressive profit recognised from projects secured during the period, which include KLIA 2, KK Times Square and Sabah Administration Centre

- The performance of the polyol division was affected by lack of export market, higher cost of raw materials and intense competition in the local market

- The current value of contract work in progress is approximately RM2.7 billion

- Lower profit mainly due to high tax expenses

- Estimate next 4Q eps after 2011 Q3 result announced = 0.0975*0.95 = 0.0926, estimate PE on current price 0.875 = 9.23(DPS 0.02)
- Estimate next 4Q eps after 2011 Q2 result announced = (0.0356+0.0195)*2 = 0.1102, estimate highest/lowest PE = 10.16/7.35 (DPS 0.04)
- Estimate next 4Q eps after 2011 Q1 result announced = (0.028+0.0195)*2 = 0.095, estimate highest/lowest PE = 12.43/10.53 (DPS 0.04)
- Estimate next 4Q eps after 2010 Q4 result announced = 0.028*4*1.05 = 0.1176, estimate highest/lowest PE = 11.14/9.69 (DPS 0.04)
- Estimate next 4Q eps after 2010 Q3 result announced = 0.1, estimate highest/lowest PE = 16.1/11.9 (DPS 0.04)
- Estimate next 4Q eps after 2010 Q2 result announced = 0.0463*2 = 0.0926, estimate highest/lowest PE = 14.15/11.23 (DPS 0.04)
- Estimate next 4Q eps after 2010 Q1 result announced = 0.0828(10% grow from 0.0753, added adjustment from last quarter estimated), estimate highest/lowest PE = 18.12/11.59 (DPS 0.04)
- Estimate next 4Q eps after 2009 Q4 result announced = 0.0781(10% grow from 0.071), estimate highest/lowest PE = 16.26/9.8 (DPS 0.04)
- Estimate next 4Q eps after 2009 Q3 result announced = 0.078, estimate highest/lowest PE = 10.9/8.91 (DPS 0.04)
- Estimate next 4Q eps after 2009 Q2 result announced = 0.06, estimate highest/lowest PE = 15.17/11.08 (DPS 0.04)
- Estimate next 4Q eps after 2009 Q2 result announced = 0.0484, estimate highest/lowest PE = 18.39/15.08 (DPS 0.04)
- Estimate next 4Q eps after 2009 Q1 result announced = 0.0465, estimate highest/lowest PE = 19.78/14.19 (DPS 0.04)

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KLCI Stock - HSL / 6238 - 2011 Quarter 3

Company Info
Market Capital (Capital Size)769,132,320 (Medium)
Par ValueRM 0.20

My Analysis
Forecast P/E now(1.32-0.024)/0.1636 = 7.92 (Moderate)
Target Price1.96+0.024 = 1.99 (PE 12.0, EPS 0.1636, DPS 0.024)
DecisionBUY if stock price sustain and uptrend start above 1.3
Comment
Revenue increased 1% and was second consecutive quarter increasing and also higher than preceding year corresponding quarter 12%, eps increased 8.2% and was second consecutive quarter increasing and also higher than preceding year corresponding quarter 10.5%, cash generated from operating is more than enough to cover all expenses, stronger liquidity ratio at low level now, lower gearing ratio from above moderate to moderate level now, receivables and payables ratio around 6 months still acceptable, no significant increase in inventory or property develpment cost
First Support Price1.3
Second Support Price1.2
Risk RatingMODERATE

Research House
RHB Target Price1.77 (2011-10-03)
MIDF Target Price1.5 (2011-11-01)
OSK Target Price1.61 (2011-11-01)
AMMB Target Price2.3 (2011-11-22)
HLG Target Price2.09 (2011-11-23)
Maybank Target Price2.1 (2011-11-23)

Accounting Ratio
Return on Equity21.94%
Dividend Yield1.82%
Profit Margin20.05%
Tax Rate25.19%
Asset Turnover0.8755
Net Asset Value Per Share0.71
Net Tangible Asset per share0.71
Price/Net Tangible Asset Per Share1.77
Cash Per Share0.26
Liquidity Current Ratio1.8511
Liquidity Quick Ratio1.6952
Liquidity Cash Ratio0.57
Gearing Debt to Equity Ratio0.68
Gearing Debt to Asset Ratio0.4046
Working capital per thousand Ringgit sale37.0%
Days to sell the inventory30
Days to collect the receivables179
Days to pay the payables189

Technical Analysis
SMA 201.305 (Uptrend 10 days)
SMA 501.307 (Downtrend)
SMA 1001.335 (Downtrend)
SMA 2001.498 (Downtrend)
MACD-0.00939 (Uptrend 23 days)
MACD Histogram0.006890 (Uptrend 21 days)

My notes based on 2011 quarter 3 report (number in '000):-
- Higher revenue and pbt mainly due to increased activities in construction segment

- Estimate next 4Q eps after 2011 Q3 result announced = 0.0409*4 = 0.1636, estimate PE on current price 1.32 = 7.92(DPS 0.026)
- Estimate next 4Q eps after 2011 Q2 result announced = (0.0378+0.0319)*2*1.05 = 0.1464, estimate highest/lowest PE = 10.15/8.17 (DPS 0.024)
- Estimate next 4Q eps after 2011 Q1 result announced = 0.1533*0.97 = 0.1487, estimate highest/lowest PE = 11.73/8.57 (DPS 0.026)
- Estimate next 4Q eps after 2010 Q3 result announced = 0.0697*2*1.1 = 0.1533, estimate highest/lowest PE = 12.49/11.05 (DPS 0.026)
- Estimate next 4Q eps after 2010 Q2 result announced = 0.0574*2*1.1 = 0.1263, estimate highest/lowest PE = 15.08/11.99 (DPS 0.026)
- Estimate next 4Q eps after 2010 Q1 result announced = 0.1025*1.1 = 0.1128, estimate highest/lowest PE = 14.95/11.49 (DPS 0.024)
- Estimate next 4Q eps after 2009 Q4 result announced = 0.1025*1.1 = 0.1128, estimate highest/lowest PE = 13.88/11.05 (DPS 0.024)
- Estimate next 4Q eps after 2009 Q3 result announced = 0.0281*4 = 0.1124, estimate highest/lowest PE = 11.96/8.75 (DPS 0.016)
- Estimate next 4Q eps after 2009 Q2 result announced = 0.0233*4 = 0.0932, estimate highest/lowest PE = 13.13/9.7 (DPS 0.016)

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Friday, December 30, 2011

KLCI Stock - LATEXX / 7064 - 2011 Quarter 3

Company Info
Market Capital (Capital Size)423,395,373 (Small)
Par ValueRM 0.50

My Analysis
Forecast P/E now(1.9-0.05)/0.2601 = 7.11 (Moderate)
Target Price2.60+0.05 = 2.65 (PE 10.0, EPS 0.2601, DPS 0.05)
DecisionBUY if stock price sustain above 1.8
Comment
Revenue decreased 9.3% and also lower than preceding year corresponding quarter 6.2%, eps decreased 25.4% and also lower than preceding year corresponding quarter 26.1%, cash generated from operating more than enough to cover all expenses, weaker liquidity ratio at low level now, lower gearing ratio at above moderate level now, all accounting ratio are good, benefit from latex price decreasing and strengthening of USD VS RM but affect by increasing of nitrile price
First Support Price1.8
Second Support Price1.6
Risk RatingMODERATE

Research House
CIMB Target Price2.05 (2011-11-22)

Accounting Ratio
Return on Equity20.18%
Dividend Yield2.63%
Profit Margin11.60%
Tax Rate9.91%
Asset Turnover0.972
Net Asset Value Per Share1.08
Net Tangible Asset per share1.0
Price/Net Tangible Asset Per Share1.87
Cash Per Share0.26
Liquidity Current Ratio1.6173
Liquidity Quick Ratio1.1311
Liquidity Cash Ratio0.492
Gearing Debt to Equity Ratio0.7203
Gearing Debt to Asset Ratio0.4187
Working capital per thousand Ringgit sale17.8%
Days to sell the inventory61
Days to collect the receivables67
Days to pay the payables83

Technical Analysis
SMA 201.899 (Downtrend 2 days)
SMA 501.839 (Uptrend)
SMA 1001.669 (Downtrend)
SMA 2002.026 (Downtrend)
MACD0.060509 (Downtrend 2 days)
MACD Histogram-0.008531 (Downtrend 12 days)

My notes based on 2011 quarter 3 report (number in '000):-
- The decrease in the Group's revenue and the net profit was mainly due to the persistently high raw material prices and the weaker foreign exchange rate of USD

- Estimate next 4Q eps after 2011 Q3 result announced = 0.0502*4*1.3 = 0.261, estimate PE on current price 1.9 = 7.11(DPS 0.05)
- Estimate next 4Q eps after 2011 Q2 result announced = (0.0483+0.0673)*2*1.05 = 0.2428, estimate highest/lowest PE = 8.53/4.61 (DPS 0.05)
- Estimate next 4Q eps after 2011 Q1 result announced = 0.0483*4*1.1 = 0.2125, estimate highest/lowest PE = 11.86/7.18 (DPS 0.075)
- Estimate next 4Q eps after 2010 Q4 result announced = 0.2751*0.95 = 0.2613, estimate highest/lowest PE = 10.62/8.78 (DPS 0.075)
- Estimate next 4Q eps after 2010 Q3 result announced = 0.3043*0.95 = 0.289, estimate highest/lowest PE = 9.91/8.15 (DPS 0.075)
- Estimate next 4Q eps after 2010 Q2 result announced = 0.0824*4 = 0.3296+0.012(QbQ improvement adjustment) = 0.3416, estimate highest/lowest PE = 10.47/6.72 (DPS 0.075)
- Estimate next 4Q eps after 2010 Q1 result announced = 0.0792*4 = 0.3168+0.02(QbQ improvement adjustment) = 0.3368, estimate highest/lowest PE = 11.46/9.62 (DPS 0.05)
- Estimate next 4Q eps after 2009 Q4 result announced = 0.0675*4 = 0.27+0.02(QbQ improvement adjustment) = 0.29, estimate highest/lowest PE = 14.62/12.14 (DPS 0.02)
- Estimate next 4Q eps after 2009 Q3 result announced = 0.0566*4 = 0.2264, estimate highest/lowest PE = 21.78/10.42 (DPS 0.02)
- Estimate next 4Q eps after 2009 Q2 result announced = 0.0586*4 = 0.2344, estimate highest/lowest PE = 11.99/7.81 (DPS 0.02)
- Estimate next 4Q eps after 2009 Q1 result announced = 0.047*4 = 0.188, estimate highest/lowest PE = 10.37/4.2 (DPS 0.02)

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USD/MYR Chart

Daily Latex Price



Thursday, December 29, 2011

KLCI Stock - DAYA / 0091 - 2011 Quarter 3

DAYA MATERIALS BERHAD

Company Description
Daya Materials Berhad (DMB) is a Malaysia-based company engaged in investment holding and provision of management services to its subsidiaries. Through its subsidiaries, DMB operates in four segments: polymer; oil and gas; technical services, and others. Its oil and gas segment includes logistics and distribution of downstream chemicals, material handling and manpower services, pipeline services, and mechanical and electrical services. DMB markets and sells polymer products under the brand name of DAYACOM, which include semiconductor compounds, medium-voltage cross-linked polyethylene (XLPE) compounds, low-voltage XLPE compounds and jacketing compounds. Its technical services segment provides the design, engineering and industrial construction services, as well as tank cleaning, repair and waste oil/solvent recycling services. On July 14, 2010, DMB, through its wholly owned subsidiary, DMB incorporated a limited liability company under the name of PT. Daya Secadyme Indonesia.

Company Info
Listing Date2005-07-25
IPO Price0.23
Market Capital (Capital Size)227,840,123 (Small)
Par ValueRM 0.10
BoardMain
SectorIndustrial Products
Major IndustryOil & Gas Services
Sub IndustryEngineering & Construction & Tank Services
Websitehttp://www.dayapolymer.com.my

My Analysis
Forecast P/E now(0.19-0.0024)/0.0189 = 9.93 (Moderate)
Target Price0.23+0.0024 = 0.23 (PE 12.0, EPS 0.0189, DPS 0.0024)
DecisionBUY if stock price sustain above 0.185
Comment
Revenue decreased 8.6% but higher than preceding year corresponding quarter 42.9%, eps increased 9.8% and was second consecutive quarter increasing and also higher than preceding year corresponding quarter 9.8%, cash generated from operating and financing more than enough to cover all expenses, weaker liquidity ratio at low level now, lower gearing ratio at moderate level now, all accounting ratio are good, better result from main profit contribution segment O&G
First Support Price0.18
Second Support Price0.15
Risk RatingMODERATE

Accounting Ratio
Return on Equity9.16%
Dividend Yield1.26%
Profit Margin12.39%
Tax Rate31.88%
Asset Turnover0.6957
Net Asset Value Per Share0.17
Net Tangible Asset per share0.1
Price/Net Tangible Asset Per Share1.9
Cash Per Share0.05
Liquidity Current Ratio1.8851
Liquidity Quick Ratio1.6991
Liquidity Cash Ratio0.7979
Gearing Debt to Equity Ratio0.6127
Gearing Debt to Asset Ratio0.3791
Working capital per thousand Ringgit sale30.4%
Days to sell the inventory26
Days to collect the receivables85
Days to pay the payables93

Technical Analysis
SMA 200.19 (Downtrend 13 days)
SMA 500.19 (Same)
SMA 1000.183 (Same)
SMA 2000.202 (Same)
MACD0.000497 (Uptrend 1 day)
MACD Histogram-0.001462 (Downtrend 11 days)

My notes based on 2011 quarter 3 report (number in '000):-
- Higher revenue and pbt than FY10Q3 mainly due to the increase in revenue from oil & gas and technical services segments and higher profits and margin from oil & gas segments with recovery of crane services business and higher chemical sales

- Lower revenue than FY11Q2 mainly attributed to the lower contribution from its technical services segment however higher profit due to reason mention above

- Estimate next 4Q eps after 2011 Q3 result announced = 0.0045*4*1.05 = 0.0189, estimate PE on current price 0.19 = 9.93(DPS 0.0024)
- Estimate next 4Q eps after 2011 Q2 result announced = 0.0041*4 = 0.0164, estimate highest/lowest PE = 13.27/9 (DPS 0.0024)
- Estimate next 4Q eps after 2011 Q1 result announced = 0.0216*0.9 = 0.0194, estimate highest/lowest PE = 11.99/8.12 (DPS 0.0024)
- Estimate next 4Q eps after 2010 Q4 result announced = 0.0049*4*1.1 = 0.0216, estimate highest/lowest PE = 12.16/9.61 (DPS 0.0024)

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Financial Quarter Summary
a_dateyearqrth_pricel_pricedivroec_roerevc_revpbtc_pbtprofc_profepsc_epsassetliabminoequicfocficffcashfcfnetfinalsharec_sharem_capdateprof_mvatasset_tpenavpsntapsp/ntapscpsl_curl_quil_cashg_deg_daavg_winv_drec_dpay_d
2011-11-2120113N/AN/A-2.60%6.23%643531854127973185365391128990.00450.0109333347126379703206968221112229113302143051801312227427121039411824812299742011-09-3012.39%31.88%0.6957-0.170.11.90.051.88511.69910.79790.61270.379130.4%268593
2011-08-23201120.220.15-2.33%3.63%70413121059680210533479074780.00410.00653358371298286632060091222517412608714341139661212126462116955611417282105202011-06-309.66%29.26%0.633-0.180.111.640.041.97361.80350.60450.63220.386636.6%2614189
2011-05-19201110.2350.16-1.48%1.48%506465064637593759271727170.00240.002430344011948564118395522341815649143402415323417574113023711302372599542011-03-317.42%27.67%0.6413-0.160.092.560.031.91331.70840.59220.65180.393830.5%2811080
2011-02-22201040.2650.210.00242.93%9.31%464911793556268233805191164960.00490.01492920491148937451771566664635994114543476702632911814358106260711050422603382010-12-3113.48%17.15%0.614116.41220.160.083.060.032.07071.82590.62540.65130.393432.7%3111783
2010-11-15201030.2950.2-2.68%6.91%450401328647417171124382113040.00410.01062780091144647431635457147587763452343284516291710626178105673710711972694672010-09-3016.47%40.70%0.7031-0.150.073.640.041.94621.70740.79510.70310.411725.4%268272
2010-08-16201020.280.16-2.80%4.29%524068782562829695451569220.00530.00792822771209858171612921004483574252343284493616838364468583128783311630792010-06-3011.99%27.62%0.6839-0.180.092.110.051.90271.71530.79860.75390.428627.0%239475
2010-05-21201010.270.18-1.65%1.65%354203542034123412240624060.00280.002822138175464689145917100326687572432841671917291259938543608543602093182010-03-319.63%29.25%0.8408-0.170.12.450.042.26081.99110.88970.51960.340927.8%248368
2010-02-24200940.320.240.00321.50%9.44%626011882444007203772152135380.00270.0173223062795816811434817398198851852037251124876033432848117877812012151232009-12-316.40%43.12%0.843915.29160.180.12.650.062.23671.98191.15540.55730.356829.7%256979
2009-11-19200930.3750.265-3.01%8.27%426211256436355163704148113860.00510.014621930981564678137745424811205834945831695715306305258117877812012760072009-09-3014.91%34.62%0.8968-0.180.13.40.041.58891.12570.50850.59510.371918.1%5764108
2009-08-19200920.440.25-3.02%5.35%4550083022560010015409072380.00520.0095228388931188861352701303182094000458314822822466537842477656541960612009-06-3012.31%27.46%0.9793-0.180.12.50.061.46831.19910.65180.69290.407715.1%3560108
2009-05-22200910.450.225-2.60%2.60%375223752244154415314831480.00630.0063203822826746881211481282715952650458311123213882319494962144962141439022009-03-3111.77%28.24%1.1493-0.240.122.420.071.68431.26430.52170.68630.405618.2%456893
2009-02-27200840.310.230.00300.10%10.71%71042224345167218284115121470.00020.03252042729087966911339330270256132428116862465728938458004919923739141279172008-12-312.35%107.78%1.09838.00340.30.141.860.091.55081.15410.66720.80620.444917.1%5053102
2008-11-22200830.320.225-2.56%10.81%695931533033747166122907122620.00710.03672065849312163911346345414250818131168622033328464453264107063341221375862008-09-305.38%21.46%0.8167-0.340.162.090.111.24830.86960.51330.82540.450813.1%8366199
2008-08-27200820.370.25-5.90%8.45%5610183710902212865653493550.02210.03171456443495960110685362282035450168624581869177312951952951951106982008-06-3016.08%27.10%0.8823-0.370.211.790.061.99971.26620.5580.3160.2426.2%836382
2008-05-27200810.640.315-2.71%2.71%276092760938433843282128210.00960.00961315042739617104108147314491987168622922935159272951952951951771172008-03-3113.92%28.23%0.6061-0.350.193.160.062.29261.77170.65360.26320.208342.2%73125115
2008-02-28200740.620.510.0029551.75%6.76%154246225825828557177168440.00600.0293113758124711710128790931226477711320103195542168622951952338811726892007-12-3116.74%31.22%0.547319.99130.430.232.540.064.32963.34121.77130.12310.109652.3%678662
2007-11-23200730.6150.48-4.03%7.47%293624683434255975273450730.01050.023880867129641267903526880032085113201327111186225062596242132181337062007-09-3011.66%20.41%0.6786-0.320.242.150.094.29883.4622.10190.1910.160368.3%769556
2007-08-23200720.550.5-2.75%6.70%7316174721030255096223390.00510.0123403245403-3492138666913309113203175134111861896301896301024002007-06-3014.08%6.60%0.6327-0.180.183.00.066.84835.67323.04460.15470.13491.4%7612738
2007-05-2920071N/AN/A-4.05%4.05%101561015615201520137713770.00730.0073422198260-3395919203891711320188296512285189630189630995552007-03-3114.97%9.41%0.4311-0.180.182.920.074.23063.62751.79850.24320.1956126.5%9823573
2007-02-2720064N/AN/A-0.91%9.04%804329340981402329629450.00160.0155397337156-32577103323331360133263366200611320189630189630673182006-12-3112.20%69.83%0.202422.85860.170.172.090.064.5943.99751.92160.21970.1801267.4%180564118

Financial Quarter Balance Sheet
yearqrtDevelopment Expenditure (A-0)Finance lease receivables (A-0)Intangible assets (A-0)Investment in associated companies (A-0)Investment in jointly controlled entity (A-0)Investment properties (A-0)Prepaid lease payments (A-0)Property, plant and equipment (A-0)Receivables (A-0)Amount due from associated companies (A-1)Cash and cash equivalents (A-1)Current tax assets (A-1)Finance lease receivables (A-1)Financial assets at fair value through profit and loss (A-1)Fixed deposits with licensed banks (A-1)Inventories (A-1)Marketable securities (A-1)Other assets (A-1)Other investments (A-1)Other receivables (A-1)Trade receivables (A-1)Deferred tax liabilities (L-0)Hire purchase liabilities (L-0)Loans & borrowings (L-0)Long term payables (L-0)Redeemable secured loan stocks (L-0)Term loans (L-0)Current tax liabilities (L-1)Hire purchase liabilities (L-1)Loans & borrowings (L-1)Other payables (L-1)Provision for liabilities (L-1)Trade and other payables (L-1)Minority interest (M-1)
20113--83491-8931214-958721750-633734610-173-14817-13219-1756536370996-427453000--3899-212664358713589528703
20112--83491-8111218-911101544-480995330-194-13585-8168-3344348844917-460233000--4788-2777929225140016696663
20111--83491-8111222-917961677-383245324-191-13324-8483-1429544502916-505283000--4093-2045123441269614360641
20104--83491-10611225-908661809-341533562-159-13428-5040-9614476411086-539475000--2393-1456825206232110372745
20103--83497-8921229784282551--191073829-29181964512516---10764332192050-41670500013336-4148-1364525289-9326743
20102--84686-7501238551480055--167453369-114961794010837---11858377892032-42710500013413-3059-1875827027-8986817
20101--62118--303553560471--143583152-65421567911091----421322044-15944-16361-1844-8152--31119689
20094--61521--304474155483--125321944-240391561011507---10351250302030-15971-16419-1457-704825273-11383681
2009378-61460--305476056853--172432523--1324327942152-398109266021829243016979---1637544563436490-16021678
2009296-61460--306477955740--265922957--1660619437409-34555237313141829234116750---1496854999145598-14259886
20091114-588395636-307395930308--122382230--1950926096468-202851635400899742-4800-140952500488571941461-11970688
20084132-588395609-308397427478--91221341--3484927613306-2159903723505899746148374800--15295351155043629-12354669
20083150-586605589--125129816--259061278--1841733714366-10033077273578815022726---1464428691562508-17697639
20082168-483257930--125720687-3076148831818--40246771041-2808557413360786258---2712952246643719389-462060
20081186-483257730--126214402-17481071777--40135431065-7780434022773786304---310191228628484320-1663017
20074204-481997644--126814095-1573050720--23019668463-1151150909388786355-1200-3491383237345260-332617
20073222106916578----14189--8143109931-2195011359-14342400110312679544---387107919333282672-408212
200722401069-----11711--2809159431-374685953-834018566999667323---4261319173348772-1375-
200712581032-----10773--2783131245-374299535-9465156210118667----4651250-2660772-2446-
20064276------11962--1924---373570181-935932059219667----504108-3538903-1436-

Financial Quarter Income Statement
yearqrtRevenueIncome tax expenseCost of salesFinance/interest costsOther incomeAdministrative/Operating expensesMinority interestShare of profit/ (loss) of associatesAfter tax effectShare of net profit of jointly controlled entity
20113643532542528579751412504640-71079
201127041319905832810821271553022-58-
2011150646104043731954188041112-29-
2010446491107530634100347192262-0169
2010345040301931366993575598116-0142
2010252406173541938530910468332-117-
20101354209982773547059944558-53-
20094626011728487305021202105641270--
2009342621220031527360769514870--
200924550015383597635633739942889--
200913752212472986331613430892027--
200847104218026402218116650131512--
2008369593804626682293178-36229--
2008256101244542870179141443843267--
200812760910852205215485177763132--
2007415424806117909250421015637--
200732936269923228912618-8---
20072731668589029148515----
2007110156143803441162723----
200648043685654829221706----

Financial Quarter Segments Revenue
yearqrtOthersOil & GasPolymerTechnical Services
20113-27199441832771
20112-21327470344383
20111-10437570534504
20104-11713408230696
20103118748780118489
20102-12154863931612
20101-88401011016470
2009432454223337887-
2009322978149434700-
2009219196185287776-
2009120546104356541-
200846047635606774-
20083434801610410009-
20082401476488052-
20081174177609675-
20074202504010366-
20073-1932627508-

Financial Quarter Segments Profit
yearqrtOthersOil & GasPolymerTechnical Services
201131966765258165
201121085080321753
201116824997781285
2010429433391264177
2010328670685342807
2010218437307892418
2010131817621604666
2009443691194425-
2009349181653121-
200926654329427-
2009188834344-
20084313279297-
20083228065800-
20082-7098216-
20081-2135943-
2007432910531046-
20073-19782852-

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



6-Months Historical Chart from shareinvestor.com


CURRENT


CHANGES IN SHAREHOLDING
ANNUAL REPORTS


HISTORICAL


CHANGES IN SHAREHOLDING


CHANGES IN SHAREHOLDING


ARCHIVES


CHANGES IN SHAREHOLDING


CHANGES IN SHAREHOLDING




1-Years Historical Chart from shareinvestor.com

5-Years Historical Chart from shareinvestor.com


Wednesday, December 28, 2011

KLCI Stock - BSTEAD / 2771 - 2011 Quarter 3

Company Info
Market Capital (Capital Size)5,443,540,869 (Very Large)
Par ValueRM 0.50

My Analysis
Forecast P/E now(5.79-0.32)/0.5401 = 10.13 (Moderate)
Target Price7.02+0.32 = 7.34 (PE 13.0, EPS 0.5401, DPS 0.32)
DecisionBUY if stock price next uptrend start above 5.5
Comment
Revenue decreased 1.6% but higher than preceding year corresponding quarter 44.6%, eps decreased 34.7% and was third consecutive quarter decreasing but still higher than preceding year corresponding quarter 30.8%, cash generated from operating not enough for financing expenses hence increased borrowings to cover other expenses and still got extra, weaker liquidity ratio at weak level now, slightly lower gearing ratio at high level now, all accounting ratio are good, CPO price in uptrend
First Support Price5.5
Second Support Price5.2
Risk RatingMODERATE

Research House
CIMB Target Price2.79 (2011-11-22)
ECM Target Price6.41 (2011-11-22)
AMMB Target Price4.3 (2011-12-19)
HLG Target Price6.5 (2011-12-19)
HwangDBS Target Price6.8 (2011-12-19)
TA Target Price6.21 (2011-12-21)

Accounting Ratio
Return on Equity12.85%
Dividend Yield5.53%
Profit Margin7.63%
Tax Rate13.64%
Asset Turnover0.6691
Net Asset Value Per Share4.63
Net Tangible Asset per share2.86
Price/Net Tangible Asset Per Share1.86
Cash Per Share0.62
Liquidity Current Ratio0.6149
Liquidity Quick Ratio0.5024
Liquidity Cash Ratio0.1095
Gearing Debt to Equity Ratio1.4952
Gearing Debt to Asset Ratio0.5667
Working capital per thousand Ringgit sale-26.5%
Days to sell the inventory31
Days to collect the receivables99
Days to pay the payables87

Technical Analysis
SMA 205.438 (Uptrend 18 days)
SMA 505.318 (Uptrend)
SMA 1005.187 (Uptrend)
SMA 2005.357 (Uptrend)
MACD0.124877 (Uptrend 8 days)
MACD Histogram0.051948 (Uptrend 53 days)

My notes based on 2011 quarter 3 report (number in '000):-
- Higher revenue and pbt than FY10Q3 due to higher sales volume for the Manufacturing & Trading Division, while the Plantation Division's revenue had also increased by 26% mainly on stronger palm product prices and consolidation of Pharmaniaga in Pharmaceutical Division

- Lower revenue and pbt in Heavy division than FY10Q3 due to the work on the second generation patrol vessels remained at the preliminary stage, higher interest expense and cost escalations in completing certain commercial shipbuilding projects

- Lower pbt than FY11Q2 due to previous quarter had included a RM94.6 million gain from the disposal of plantation assets

- Plantation Division’s pre-tax profit was better than FY11Q2 was boosted by RM14 million dividend income from Boustead REIT, while the 5% increase in FFB crop helped to cushion against a 5% decline in CPO price

- Estimate next 4Q eps after 2011 Q3 result announced = 0.1286*4*1.05 = 0.5401, estimate PE on current price 5.79 = 10.13(DPS 0.32)
- Estimate next 4Q eps after 2011 Q2 result announced = (0.1+0.12)*2 = 0.44, estimate highest/lowest PE = 12.11/9.48 (DPS 0.32)
- Estimate next 4Q eps after 2011 Q1 result announced = 0.5557, estimate highest/lowest PE = 10.94/8.53 (DPS 0.42)
- Estimate next 4Q eps after 2010 Q4 result announced = 0.2646*2*1.05 = 0.5557(exclude RM52 million one off gained), estimate highest/lowest PE = 10.08/8.8 (DPS 0.39)
- Estimate next 4Q eps after 2010 Q3 result announced = 0.1*4*1.1 = 0.44, estimate highest/lowest PE = 13.11/11.14 (DPS 0.37)
- Estimate next 4Q eps after 2010 Q2 result announced = 0.08*4*1.05 = 0.336(0.08 is eps exclude non-repeatable income), estimate highest/lowest PE = 17.04/11.59 (DPS 0.325)
- Estimate next 4Q eps after 2010 Q1 result announced = 0.4699*1.05 = 0.4934(5% increase), estimate highest/lowest PE = 8.3/6.58 (DPS 0.275)
- Estimate next 4Q eps after 2009 Q4 result announced = 0.4934, estimate highest/lowest PE = 7.1/6.31 (DPS 0.275)
- Estimate next 4Q eps after 2009 Q3 result announced = 0.1241*4 = 0.4964, estimate highest/lowest PE = 6.89/6.06 (DPS 0.25)
- Estimate next 4Q eps after 2009 Q2 result announced = 0.0721*4 = 0.2884, estimate highest/lowest PE = 12.17/10.92 (DPS 0.2)
- Estimate next 4Q eps after 2009 Q1 result announced = 0.0934*4 = 0.3736, estimate highest/lowest PE = 11.78/8.94 (DPS 0.2)
- Estimate next 4Q eps after 2008 Q4 result announced = 0.1699*4 = 0.6796, estimate highest/lowest PE = 5.15/3.97 (DPS 0.3)

BSTEAD latest news (English)

BSTEAD latest news (Chinese)



Tuesday, December 20, 2011

KLCI Stock - MAHSING / 8583 - 2011 Quarter 3

Company Info
Market Capital (Capital Size)1,397,545,193 (Large)
Par ValueRM 0.50

My Analysis
Forecast P/E now(1.68-0.076)/0.1896 = 8.46 (Moderate)
Target Price2.28+0.076 = 2.35 (PE 12.0, EPS 0.1896, DPS 0.076)
DecisionBUY if macd back to uptrend
Comment
Revenue increased 1.1% and was fourth consecutive quarter increasing (higher than preceding year corresponding quarter 48.4%), eps decreased 1% but higher than preceding year corresponding quarter 39.8%, no cash generated from operating after changed of assets & liabilities but cash generate from financing still more than enough to cover all expenses, stronger liquidity ratio from moderate to high level now, lower gearing ratio at high level now, all accounting ratio improved but inventory still at very high level, plastics division profit decreasing, property division revenue continue increasing
First Support Price1.68
Second Support Price1.5
Risk RatingMODERATE

Research House
Nomura Target Price3.08 (2011-02-10)
TA Target Price3.32 (2011-04-15)
UOB Target Price2.44 (2011-08-03)
Kenanga Target Price2.87 (2011-08-18)
OSK Target Price3.01 (2011-08-18)
CIMB Target Price2.64 (2011-10-06)
MIDF Target Price1.71 (2011-10-06)
RHB Target Price1.55 (2011-10-06)
Maybank Target Price1.76 (2011-11-22)
HLG Target Price2.37 (2011-12-14)

Accounting Ratio
Return on Equity15.53%
Dividend Yield4.52%
Profit Margin14.55%
Tax Rate28.97%
Asset Turnover0.5461
Net Asset Value Per Share1.21
Net Tangible Asset per share1.21
Price/Net Tangible Asset Per Share1.6
Cash Per Share0.69
Liquidity Current Ratio3.8813
Liquidity Quick Ratio1.4399
Liquidity Cash Ratio0.9454
Gearing Debt to Equity Ratio1.5562
Gearing Debt to Asset Ratio0.6052
Working capital per thousand Ringgit sale125.8%
Days to sell the inventory485
Days to collect the receivables78
Days to pay the payables172

Technical Analysis
SMA 201.816 (Downtrend 17 days)
SMA 501.897 (Downtrend)
SMA 1001.997 (Downtrend)
SMA 2002.231 (Downtrend)
MACD-0.078268 (Downtrend 20 days)
MACD Histogram-0.026698 (Downtrend 11 days)

My notes based on 2011 quarter 3 report (number in '000):-
- Unbilled locked in sales and remaining GDV is estimated at more than RM15 billion

- Estimate next 4Q eps after 2011 Q3 result announced = 0.0499*4*0.95 = 0.1896, estimate PE on current price 1.68 = 8.46(DPS 0.076)
- Estimate next 4Q eps after 2011 Q2 result announced = 0.0504*4 = 0.2016, estimate highest/lowest PE = 12.12/7.01 (DPS 0.076)
- Estimate next 4Q eps after 2011 Q1 result announced = 0.0485*4 = 0.194, estimate highest/lowest PE = 13.47/10.64 (DPS 0.076)
- Estimate next 4Q eps after 2010 Q4 result announced = 0.0376*4*1.1 = 0.1654, estimate highest/lowest PE = 16.05/13.2 (DPS 0.076)
- Estimate next 4Q eps after 2010 Q3 result announced = 0.0357*4*1.1 = 0.1571, estimate highest/lowest PE = 17.6/10.85 (DPS 0.065)
- Estimate next 4Q eps after 2010 Q2 result announced = 0.0355*4*1.1 = 0.1562, estimate highest/lowest PE = 12.45/10.47 (DPS 0.065)
- Estimate next 4Q eps after 2010 Q1 result announced = 0.034*4*1.1 = 0.1496, estimate highest/lowest PE = 12.13/9.99 (DPS 0.065)
- Estimate next 4Q eps after 2009 Q4 result announced = 0.0388*4 = 0.1552, estimate highest/lowest PE = 12.6/10.53 (DPS 0.065)
- Estimate next 4Q eps after 2009 Q3 result announced = 0.0373*4 = 0.1492, estimate highest/lowest PE = 12.73/10.72 (DPS 0.08)
- Estimate next 4Q eps after 2009 Q2 result announced = 0.0366*4 = 0.1464, estimate highest/lowest PE = 13.66/11.61 (DPS 0.08)
- Estimate next 4Q eps after 2009 Q1 result announced = 0.036*4 = 0.144, estimate highest/lowest PE = 13.68/11.39 (DPS 0.08)
- Estimate next 4Q eps after 2008 Q4 result announced = 0.0271*4 = 0.1084, estimate highest/lowest PE = 16.33/13.28 (DPS 0.08)

MAHSING latest news (English)

MAHSING latest news (Chinese)