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 Date	2005-07-25
IPO Price	0.23
Market Capital (Capital Size)	227,840,123 (Small)
Par Value	RM 0.10
Board	Main
Sector	Industrial Products
Major Industry	Oil & Gas Services
Sub Industry	Engineering & Construction & Tank Services
Website	http://www.dayapolymer.com.my

My Analysis

Forecast P/E now	(0.19-0.0024)/0.0189 = 9.93 (Moderate)
Target Price	0.23+0.0024 = 0.23 (PE 12.0, EPS 0.0189, DPS 0.0024)
Decision	BUY 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 Price	0.18
Second Support Price	0.15
Risk Rating	MODERATE

Accounting Ratio

Return on Equity	9.16%
Dividend Yield	1.26%
Profit Margin	12.39%
Tax Rate	31.88%
Asset Turnover	0.6957
Net Asset Value Per Share	0.17
Net Tangible Asset per share	0.1
Price/Net Tangible Asset Per Share	1.9
Cash Per Share	0.05
Liquidity Current Ratio	1.8851
Liquidity Quick Ratio	1.6991
Liquidity Cash Ratio	0.7979
Gearing Debt to Equity Ratio	0.6127
Gearing Debt to Asset Ratio	0.3791
Working capital per thousand Ringgit sale	30.4%
Days to sell the inventory	26
Days to collect the receivables	85
Days to pay the payables	93

Technical Analysis

SMA 20	0.19 (Downtrend 13 days)
SMA 50	0.19 (Same)
SMA 100	0.183 (Same)
SMA 200	0.202 (Same)
MACD	0.000497 (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)

DAYA latest news (English)

DAYA 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
2011-11-21	2011	3	N/A	N/A	-	2.60%	6.23%	64353	185412	7973	18536	5391	12899	0.0045	0.0109	333347	126379	703	206968	22111	22291	13302	14305	180	13122	27427	1210394	1182481	229974	2011-09-30	12.39%	31.88%	0.6957	-	0.17	0.1	1.9	0.05	1.8851	1.6991	0.7979	0.6127	0.3791	30.4%	26	85	93
2011-08-23	2011	2	0.22	0.15	-	2.33%	3.63%	70413	121059	6802	10533	4790	7478	0.0041	0.0065	335837	129828	663	206009	12225	1741	26087	14341	13966	12121	26462	1169556	1141728	210520	2011-06-30	9.66%	29.26%	0.633	-	0.18	0.11	1.64	0.04	1.9736	1.8035	0.6045	0.6322	0.3866	36.6%	26	141	89
2011-05-19	2011	1	0.235	0.16	-	1.48%	1.48%	50646	50646	3759	3759	2717	2717	0.0024	0.0024	303440	119485	641	183955	2234	181	5649	14340	2415	3234	17574	1130237	1130237	259954	2011-03-31	7.42%	27.67%	0.6413	-	0.16	0.09	2.56	0.03	1.9133	1.7084	0.5922	0.6518	0.3938	30.5%	28	110	80
2011-02-22	2010	4	0.265	0.21	0.0024	2.93%	9.31%	46491	179355	6268	23380	5191	16496	0.0049	0.0149	292049	114893	745	177156	6664	63599	41145	43476	70263	29118	14358	1062607	1105042	260338	2010-12-31	13.48%	17.15%	0.6141	16.4122	0.16	0.08	3.06	0.03	2.0707	1.8259	0.6254	0.6513	0.3934	32.7%	31	117	83
2010-11-15	2010	3	0.295	0.2	-	2.68%	6.91%	45040	132864	7417	17112	4382	11304	0.0041	0.0106	278009	114464	743	163545	7147	58776	34523	43284	51629	17106	26178	1056737	1071197	269467	2010-09-30	16.47%	40.70%	0.7031	-	0.15	0.07	3.64	0.04	1.9462	1.7074	0.7951	0.7031	0.4117	25.4%	26	82	72
2010-08-16	2010	2	0.28	0.16	-	2.80%	4.29%	52406	87825	6282	9695	4515	6922	0.0053	0.0079	282277	120985	817	161292	1004	48357	42523	43284	49361	6838	36446	858312	878331	163079	2010-06-30	11.99%	27.62%	0.6839	-	0.18	0.09	2.11	0.05	1.9027	1.7153	0.7986	0.7539	0.4286	27.0%	23	94	75
2010-05-21	2010	1	0.27	0.18	-	1.65%	1.65%	35420	35420	3412	3412	2406	2406	0.0028	0.0028	221381	75464	689	145917	10032	6687	572	43284	16719	17291	25993	854360	854360	209318	2010-03-31	9.63%	29.25%	0.8408	-	0.17	0.1	2.45	0.04	2.2608	1.9911	0.8897	0.5196	0.3409	27.8%	24	83	68
2010-02-24	2009	4	0.32	0.24	0.0032	1.50%	9.44%	62601	188244	4007	20377	2152	13538	0.0027	0.0173	223062	79581	681	143481	7398	19885	18520	37251	12487	6033	43284	811787	781201	215123	2009-12-31	6.40%	43.12%	0.8439	15.2916	0.18	0.1	2.65	0.06	2.2367	1.9819	1.1554	0.5573	0.3568	29.7%	25	69	79
2009-11-19	2009	3	0.375	0.265	-	3.01%	8.27%	42621	125643	6355	16370	4148	11386	0.0051	0.0146	219309	81564	678	137745	4248	11205	8349	45831	6957	15306	30525	811787	781201	276007	2009-09-30	14.91%	34.62%	0.8968	-	0.18	0.1	3.4	0.04	1.5889	1.1257	0.5085	0.5951	0.3719	18.1%	57	64	108
2009-08-19	2009	2	0.44	0.25	-	3.02%	5.35%	45500	83022	5600	10015	4090	7238	0.0052	0.0095	228388	93118	886	135270	13031	8209	4000	45831	4822	822	46653	784247	765654	196061	2009-06-30	12.31%	27.46%	0.9793	-	0.18	0.1	2.5	0.06	1.4683	1.1991	0.6518	0.6929	0.4077	15.1%	35	60	108
2009-05-22	2009	1	0.45	0.225	-	2.60%	2.60%	37522	37522	4415	4415	3148	3148	0.0063	0.0063	203822	82674	688	121148	12827	1595	2650	45831	11232	13882	31949	496214	496214	143902	2009-03-31	11.77%	28.24%	1.1493	-	0.24	0.12	2.42	0.07	1.6843	1.2643	0.5217	0.6863	0.4056	18.2%	45	68	93
2009-02-27	2008	4	0.31	0.23	0.0030	0.10%	10.71%	71042	224345	1672	18284	115	12147	0.0002	0.0325	204272	90879	669	113393	30270	25613	24281	16862	4657	28938	45800	491992	373914	127917	2008-12-31	2.35%	107.78%	1.0983	8.0034	0.3	0.14	1.86	0.09	1.5508	1.1541	0.6672	0.8062	0.4449	17.1%	50	53	102
2008-11-22	2008	3	0.32	0.225	-	2.56%	10.81%	69593	153303	3747	16612	2907	12262	0.0071	0.0367	206584	93121	639	113463	45414	25081	8131	16862	20333	28464	45326	410706	334122	137586	2008-09-30	5.38%	21.46%	0.8167	-	0.34	0.16	2.09	0.11	1.2483	0.8696	0.5133	0.8254	0.4508	13.1%	83	66	199
2008-08-27	2008	2	0.37	0.25	-	5.90%	8.45%	56101	83710	9022	12865	6534	9355	0.0221	0.0317	145644	34959	60	110685	3622	8203	5450	16862	4581	869	17731	295195	295195	110698	2008-06-30	16.08%	27.10%	0.8823	-	0.37	0.21	1.79	0.06	1.9997	1.2662	0.558	0.316	0.24	26.2%	83	63	82
2008-05-27	2008	1	0.64	0.315	-	2.71%	2.71%	27609	27609	3843	3843	2821	2821	0.0096	0.0096	131504	27396	17	104108	1473	1449	1987	16862	2922	935	15927	295195	295195	177117	2008-03-31	13.92%	28.23%	0.6061	-	0.35	0.19	3.16	0.06	2.2926	1.7717	0.6536	0.2632	0.2083	42.2%	73	125	115
2008-02-28	2007	4	0.62	0.51	0.002955	1.75%	6.76%	15424	62258	2582	8557	1771	6844	0.0060	0.0293	113758	12471	17	101287	9093	1226	4777	11320	10319	5542	16862	295195	233881	172689	2007-12-31	16.74%	31.22%	0.5473	19.9913	0.43	0.23	2.54	0.06	4.3296	3.3412	1.7713	0.1231	0.1096	52.3%	67	86	62
2007-11-23	2007	3	0.615	0.48	-	4.03%	7.47%	29362	46834	3425	5975	2734	5073	0.0105	0.0238	80867	12964	12	67903	5268	8003	2085	11320	13271	11186	22506	259624	213218	133706	2007-09-30	11.66%	20.41%	0.6786	-	0.32	0.24	2.15	0.09	4.2988	3.462	2.1019	0.191	0.1603	68.3%	76	95	56
2007-08-23	2007	2	0.55	0.5	-	2.75%	6.70%	7316	17472	1030	2550	962	2339	0.0051	0.0123	40324	5403	-	34921	3866	691	3309	11320	3175	134	11186	189630	189630	102400	2007-06-30	14.08%	6.60%	0.6327	-	0.18	0.18	3.0	0.06	6.8483	5.6732	3.0446	0.1547	0.134	91.4%	76	127	38
2007-05-29	2007	1	N/A	N/A	-	4.05%	4.05%	10156	10156	1520	1520	1377	1377	0.0073	0.0073	42219	8260	-	33959	1920	38	917	11320	1882	965	12285	189630	189630	99555	2007-03-31	14.97%	9.41%	0.4311	-	0.18	0.18	2.92	0.07	4.2306	3.6275	1.7985	0.2432	0.1956	126.5%	98	235	73
2007-02-27	2006	4	N/A	N/A	-	0.91%	9.04%	8043	29340	981	4023	296	2945	0.0016	0.0155	39733	7156	-	32577	1033	2333	1360	13326	3366	2006	11320	189630	189630	67318	2006-12-31	12.20%	69.83%	0.2024	22.8586	0.17	0.17	2.09	0.06	4.594	3.9975	1.9216	0.2197	0.1801	267.4%	180	564	118

Financial Quarter Balance Sheet

year	qrt	Development 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)
2011	3	-	-	83491	-	893	1214	-	95872	1750	-	63373	4610	-	173	-	14817	-	13219	-	17565	36370	996	-	42745	3000	-	-	3899	-	21266	43587	1358	9528	703
2011	2	-	-	83491	-	811	1218	-	91110	1544	-	48099	5330	-	194	-	13585	-	8168	-	33443	48844	917	-	46023	3000	-	-	4788	-	27779	29225	1400	16696	663
2011	1	-	-	83491	-	811	1222	-	91796	1677	-	38324	5324	-	191	-	13324	-	8483	-	14295	44502	916	-	50528	3000	-	-	4093	-	20451	23441	2696	14360	641
2010	4	-	-	83491	-	1061	1225	-	90866	1809	-	34153	3562	-	159	-	13428	-	5040	-	9614	47641	1086	-	53947	5000	-	-	2393	-	14568	25206	2321	10372	745
2010	3	-	-	83497	-	892	1229	7842	82551	-	-	19107	3829	-	2918	19645	12516	-	-	-	10764	33219	2050	-	41670	5000	13336	-	4148	-	13645	25289	-	9326	743
2010	2	-	-	84686	-	750	1238	5514	80055	-	-	16745	3369	-	11496	17940	10837	-	-	-	11858	37789	2032	-	42710	5000	13413	-	3059	-	18758	27027	-	8986	817
2010	1	-	-	62118	-	-	303	5535	60471	-	-	14358	3152	-	6542	15679	11091	-	-	-	-	42132	2044	-	15944	-	16361	-	1844	-	8152	-	-	31119	689
2009	4	-	-	61521	-	-	304	4741	55483	-	-	12532	1944	-	24039	15610	11507	-	-	-	10351	25030	2030	-	15971	-	16419	-	1457	-	7048	25273	-	11383	681
2009	3	78	-	61460	-	-	305	4760	56853	-	-	17243	2523	-	-	13243	27942	152	-	39	8109	26602	1829	2430	16979	-	-	-	1637	544	5634	36490	-	16021	678
2009	2	96	-	61460	-	-	306	4779	55740	-	-	26592	2957	-	-	16606	19437	409	-	3455	5237	31314	1829	2341	16750	-	-	-	1496	854	9991	45598	-	14259	886
2009	1	114	-	58839	5636	-	307	3959	30308	-	-	12238	2230	-	-	19509	26096	468	-	202	8516	35400	899	742	-	4800	-	14095	2500	488	5719	41461	-	11970	688
2008	4	132	-	58839	5609	-	308	3974	27478	-	-	9122	1341	-	-	34849	27613	306	-	2159	9037	23505	899	746	14837	4800	-	-	1529	535	11550	43629	-	12354	669
2008	3	150	-	58660	5589	-	-	1251	29816	-	-	25906	1278	-	-	18417	33714	366	-	1003	3077	27357	881	502	2726	-	-	-	1464	428	6915	62508	-	17697	639
2008	2	168	-	48325	7930	-	-	1257	20687	-	3076	14883	1818	-	-	40	24677	1041	-	2808	5574	13360	786	258	-	-	-	271	2952	246	6437	19389	-	4620	60
2008	1	186	-	48325	7730	-	-	1262	14402	-	174	8107	1777	-	-	40	13543	1065	-	7780	4340	22773	786	304	-	-	-	310	1912	286	2848	4320	-	16630	17
2007	4	204	-	48199	7644	-	-	1268	14095	-	157	3050	720	-	-	2301	9668	463	-	11511	5090	9388	786	355	-	1200	-	349	138	323	734	5260	-	3326	17
2007	3	222	1069	16578	-	-	-	-	14189	-	-	8143	1099	31	-	21	9501	1359	-	14342	4001	10312	679	544	-	-	-	387	1079	193	3328	2672	-	4082	12
2007	2	240	1069	-	-	-	-	-	11711	-	-	2809	1594	31	-	37	4685	953	-	8340	1856	6999	667	323	-	-	-	426	1319	173	348	772	-	1375	-
2007	1	258	1032	-	-	-	-	-	10773	-	-	2783	1312	45	-	37	4299	535	-	9465	1562	10118	667	-	-	-	-	465	1250	-	2660	772	-	2446	-
2006	4	276	-	-	-	-	-	-	11962	-	-	1924	-	-	-	37	3570	181	-	9359	3205	9219	667	-	-	-	-	504	108	-	3538	903	-	1436	-

Financial Quarter Income Statement

year	qrt	Revenue	Income tax expense	Cost of sales	Finance/interest costs	Other income	Administrative/Operating expenses	Minority interest	Share of profit/ (loss) of associates	After tax effect	Share of net profit of jointly controlled entity
2011	3	64353	2542	52857	975	1412	5046	40	-	7	1079
2011	2	70413	1990	58328	1082	1271	5530	22	-	58	-
2011	1	50646	1040	43731	954	1880	4111	2	-	29	-
2010	4	46491	1075	30634	1003	471	9226	2	-	0	169
2010	3	45040	3019	31366	993	575	5981	16	-	0	142
2010	2	52406	1735	41938	530	910	4683	32	-	117	-
2010	1	35420	998	27735	470	599	4455	8	-	53	-
2009	4	62601	1728	48730	502	1202	10564	127	0	-	-
2009	3	42621	2200	31527	360	769	5148	7	0	-	-
2009	2	45500	1538	35976	356	337	3994	28	89	-	-
2009	1	37522	1247	29863	316	134	3089	20	27	-	-
2008	4	71042	1802	64022	181	166	5013	15	12	-	-
2008	3	69593	804	62668	229	3178	-	36	229	-	-
2008	2	56101	2445	42870	179	141	4438	43	267	-	-
2008	1	27609	1085	22052	154	85	1777	63	132	-	-
2007	4	15424	806	11790	92	504	2101	5	637	-	-
2007	3	29362	699	23228	91	2618	-	8	-	-	-
2007	2	7316	68	5890	29	148	515	-	-	-	-
2007	1	10156	143	8034	41	162	723	-	-	-	-
2006	4	8043	685	6548	29	221	706	-	-	-	-

Financial Quarter Segments Revenue

year	qrt	Others	Oil & Gas	Polymer	Technical Services
2011	3	-	27199	4418	32771
2011	2	-	21327	4703	44383
2011	1	-	10437	5705	34504
2010	4	-	11713	4082	30696
2010	3	1	18748	7801	18489
2010	2	-	12154	8639	31612
2010	1	-	8840	10110	16470
2009	4	32454	22333	7887	-
2009	3	22978	14943	4700	-
2009	2	19196	18528	7776	-
2009	1	20546	10435	6541	-
2008	4	60476	3560	6774	-
2008	3	43480	16104	10009	-
2008	2	401	47648	8052	-
2008	1	174	17760	9675	-
2007	4	202	5040	10366	-
2007	3	-	19326	27508	-

Financial Quarter Segments Profit

year	qrt	Others	Oil & Gas	Polymer	Technical Services
2011	3	196	6765	258	165
2011	2	108	5080	321	753
2011	1	68	2499	778	1285
2010	4	294	3339	126	4177
2010	3	286	7068	534	2807
2010	2	184	3730	789	2418
2010	1	318	1762	1604	666
2009	4	4369	1194	425	-
2009	3	4918	1653	121	-
2009	2	665	4329	427	-
2009	1	888	3434	4	-
2008	4	3132	792	97	-
2008	3	2280	65	800	-
2008	2	-	7098	216	-
2008	1	-	2135	943	-
2007	4	329	1053	1046	-
2007	3	-	1978	2852	-

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

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●CHANGES IN SHAREHOLDING
●ANNUAL REPORTS

HISTORICAL

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●CHANGES IN SHAREHOLDING

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●CHANGES IN SHAREHOLDING

ARCHIVES

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●CHANGES IN SHAREHOLDING

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●CHANGES IN SHAREHOLDING

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1-Years Historical Chart from shareinvestor.com

5-Years Historical Chart from shareinvestor.com