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Saturday, April 30, 2011

KLCI Stock - DIALOG / 7277 - 2011 Quarter 2

Company Info
Market Capital (Capital Size)4,963,176,895 (Large)
Par ValueRM 0.10

My Analysis
Forecast P/E now(2.49-0.031)/0.0691 = 35.59 (High)
Target Price1.11+0.031 = 1.14 (PE 16.0, EPS 0.0691, DPS 0.031)
DecisionNot interested unless revenue and profit increase more
Comment
Revenue increased 1.8% but lower than preceding year corresponding quarter 2.6%, eps increased 8.3% and is second consecutive quarter increasing but still lower than preceding year corresponding quarter 10.7%, cash generated from operating is more than enough to cover all expenses, liquidity ratio decreasing at low level now, gearing ratio increased at above moderate level now, all accounting period are acceptable, Pengerang project, acquired New Zealand largest heavy fabrication company, O&G price increasing
First Support Price1.75
Second Support Price1.5
Risk RatingHIGH

Research House
CIMB Target Price2.2 (2010-12-21)
MIMB Target Price2.15 (2010-12-27)
RHB Target Price2.11 (2011-01-03)
AMMB Target Price2.49 (2011-01-12)
Maybank Target Price2.6 (2011-02-17)
MIDF Target Price2.24 (2011-02-17)
OSK Target Price2.51 (2011-02-17)

Accounting Ratio
Return on Equity24.25%
Dividend Yield1.24%
Profit Margin17.50%
Tax Rate19.66%
Asset Turnover1.1738
Net Asset Value Per Share0.26
Net Tangible Asset per share0.26
Price/Net Tangible Asset Per Share8.19
Cash Per Share0.14
Liquidity Current Ratio1.764
Liquidity Quick Ratio1.6219
Liquidity Cash Ratio0.8108
Gearing Debt to Equity Ratio0.7229
Gearing Debt to Asset Ratio0.4024
Working capital per thousand Ringgit sale24.3%
Days to sell the inventory19
Days to collect the receivables92
Days to pay the payables104

My notes based on 2011 quarter 2 report (number in '000):-
- The Group’s profit after taxation for the current financial quarter of RM37.7 million was 25% higher when compared to the corresponding quarter last year despite the slight 3% drop in revenue. The better result was due to higher contribution from Engineering & Construction and Plant Maintenance activities in Malaysia and Singapore. The Specialist Products and Services for International operation also performed better in the current financial quarter

- In addition, the commencement of operation by Langsat Terminal (One) Sdn Bhd in Tanjung Langsat, Johor in September 2009 for its Phase 1 and in April 2010 for its Phase 2, had also contributed positively to the Group’s financial results in the current quarter

- Profit before tax recorded for the current financial quarter of RM47.0 million was higher by 13% compared to RM41.5 million recorded in the preceding financial quarter. This was due to higher contribution from Engineering & Construction activities in Malaysia and Singapore, and Specialist Products and Services for International operation

- Estimate next 4Q eps after 2011 Q2 result announced = (0.0183+0.0146)*2*1.05 = 0.0691, estimate PE on current price 2.49 = 35.59(DPS 0.031)
- Estimate next 4Q eps after 2011 Q1 result announced = 0.0169*4*1.05 = 0.071(ROE 6% per quarter), estimate highest/lowest PE = 31.82/19.14 (DPS 0.031)
- Estimate next 4Q eps after 2010 Q4 result announced = 0.0146*4*1.05 = 0.0613, estimate highest/lowest PE = 23.8/16.95 (DPS 0.031)
- Estimate next 4Q eps after 2010 Q3 result announced = 0.0162*4*1.05 = 0.068(5% increase), estimate highest/lowest PE = 15.93/14.16 (DPS 0.037)
- Estimate next 4Q eps after 2010 Q2 result announced = 0.04*2 = 0.08, estimate highest/lowest PE = 14.3/11.5 (DPS 0.036)
- Estimate next 4Q eps after 2010 Q1 result announced = 0.0193*4 = 0.0772, estimate highest/lowest PE = 18.83/15.73 (DPS 0.036)
- Estimate next 4Q eps after 2009 Q4 result announced = 0.0659*1.1 = 0.0725, estimate highest/lowest PE = 18.4/15.64 (DPS 0.036)

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Friday, April 29, 2011

KLCI Stock - EKSONS / 9016 - 2011 Quarter 3

Company Info
Market Capital (Capital Size)231,540,330 (Small)
Par ValueRM 0.80

My Analysis
Forecast P/E now(1.41-0.025)/0.1096 = 12.64 (High)
Target Price0.99+0.025 = 1.01 (PE 9.0, EPS 0.1096, DPS 0.025)
DecisionNot interested unless revenue and profit increase more
Comment
Revenue decreased 14% and also lower than preceding year corresponding quarter 5.5%, eps decreased 46.4% and is third consecutive quarter decreasing and also lower than preceding year corresponding quarter 41.2%, cash generated from operating mostly used to increase inventories hence still increase borrowing, liquidity ratio increased at high level now, gearing ratio decreased from below moderate t low level now, inventory ratio still high, affecting by weakening USD against MYR, higher log costs, property division growing
First Support Price0.98
Second Support Price0.94
Risk RatingHIGH

Accounting Ratio
Return on Equity8.37%
Dividend Yield3.90%
Profit Margin7.04%
Tax Rate6.81%
Asset Turnover0.6986
Net Asset Value Per Share2.19
Net Tangible Asset per share2.03
Price/Net Tangible Asset Per Share0.55
Cash Per Share0.32
Liquidity Current Ratio3.5615
Liquidity Quick Ratio1.2982
Liquidity Cash Ratio0.7674
Gearing Debt to Equity Ratio0.1901
Gearing Debt to Asset Ratio0.1517
Working capital per thousand Ringgit sale55.6%
Days to sell the inventory193
Days to collect the receivables37
Days to pay the payables33

My notes based on 2011 quarter 3 report (number in '000):-
- The lower margin for the current financial year to date in timber is mainly due to higher production costs especially log costs

- The fluctuation noted in the turnover of the quarters under review is mainly due to delays in the arrival of purchasers’ vessels for loading

- Construction activity on the Group’s development project has increased as work has begun on more parcels of the project

- Demand for plywood is expected to remain at current levels for the medium term

- Construction activities are proceeding expeditiously on the boulevard shops and shop offices where completion is expected in stages between mid-2011 to 3rd quarter 2012

- Estimate next 4Q eps after 2011 Q3 result announced = 0.0261*4*1.05 = 0.1096, estimate PE on current price 1.41 = 12.64(DPS 0.025)
- Estimate next 4Q eps after 2011 Q2 result announced = 0.0334*4 = 0.1336(use profit margin 6% from 93k revenue), estimate PE on current price 1.18 = 8.76/6.96 (DPS 0.05)
- Estimate next 4Q eps after 2011 Q1 result announced = 0.0342*4 = 0.1368(use profit margin 8% from 70k revenue), estimate highest/lowest PE = 8.04/6.51 (DPS 0.05) (Amendment)
- Estimate next 4Q eps after 2010 Q4 result announced = 0.11*0.9 = 0.099(0.11 is year 2010 cum_eps excluded 9.9 million and 10% negative adjustment for those tax refund), estimate highest/lowest PE = 8.18/7 (DPS 0.05)
- Estimate next 4Q eps after 2010 Q3 result announced = 0.11, estimate highest/lowest PE = 9.82/7.36 (DPS 0.02)
- Estimate next 4Q eps after 2010 Q2 result announced = 0.1, estimate highest/lowest PE = 8.95/7.5 (DPS 0.02)

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Wednesday, April 27, 2011

KLCI Stock - KPJ / 5878 - 2010 Quarter 4

Company Info
Market Capital (Capital Size)2,350,228,933 (Large)
Par ValueRM 0.50

My Analysis
Forecast P/E now(4.05-0.15)/0.2226 = 17.52 (High)
Target Price3.56+0.15 = 3.71 (PE 16.0, EPS 0.2226, DPS 0.15)
DecisionNOT BUY unless price below 3.7
Comment
Revenue decreased 0.7% but higher than preceding year corresponding quarter 12.5%, eps decreased 1.4% and also lower than preceding year corresponding quarter 15.7%, cash generated from operating enough to cover financing activities, liquidity ratio increased at low level now, high gearing ratio, all accounting periods are good, hospital increasing
First Support Price3.8
Second Support Price3.7
Risk RatingMODERATE

Research House
OSK Target Price4.62 (2011-01-19)
TA Target Price4.32 (2011-01-19)
RHB Target Price4.94 (2011-04-08)
MIDF Target Price4.6 (2011-04-14)

Accounting Ratio
Return on Equity13.74%
Dividend Yield3.61%
Profit Margin10.22%
Tax Rate22.27%
Asset Turnover1.0216
Net Asset Value Per Share1.25
Net Tangible Asset per share1.03
Price/Net Tangible Asset Per Share3.7
Cash Per Share0.31
Liquidity Current Ratio1.3516
Liquidity Quick Ratio1.2653
Liquidity Cash Ratio0.4226
Gearing Debt to Equity Ratio1.0042
Gearing Debt to Asset Ratio0.4728
Working capital per thousand Ringgit sale9.6%
Days to sell the inventory9
Days to collect the receivables66
Days to pay the payables77

My notes based on 2010 quarter 4 report (number in '000):-
- The profit before taxation for the current quarter has increased by 12.4% to RM44.3 million from RM39.4 million in the corresponding quarter 2009. The increase is in line with the increase in revenue of the hospitals

- The profit before taxation for the current quarter of RM44.3 million has increased by 2.8% compared to the preceding quarter of RM43.1 million. The increase in the net profit before tax is in line with the increase in revenue and contribution from the hospitals

- Estimate next 4Q eps after 2010 Q4 result announced = 0.0512*4*1.1 = 0.2253, estimate PE on current price 4.05 = 17.52(DPS 0.15)
- Estimate next 4Q eps after 2010 Q3 result announced = 0.0512*4*1.1 = 0.2253, estimate highest/lowest PE = 17.18/15.71 (DPS 0.13)
- Estimate next 4Q eps after 2010 Q2 result announced = 0.0506*4*1.1 = 0.2226, estimate highest/lowest PE = 17.34/13.7 (DPS 0.13)
- Estimate next 4Q eps after 2010 Q1 result announced = 0.2174, estimate highest/lowest PE = 17.25/13.02 (DPS 0.1)
- Estimate next 4Q eps after 2009 Q4 result announced = 0.1359*4 = 0.5436(after split 2.5 = 0.2174), estimate highest/lowest PE = 13.89/10.9 (DPS 0.2 or 0.08)
- Estimate next 4Q eps after 2009 Q3 result announced = 0.1291*4 = 0.5164, estimate highest/lowest PE = 12.24/6.29 (DPS 0.2)
- Estimate next 4Q eps after 2009 Q2 result announced = 0.1188*4 = 0.4752, estimate highest/lowest PE = 10.61/6.92 (DPS 0.1)
- Estimate next 4Q eps after 2009 Q1 result announced = 0.1046*4 = 0.4184, estimate highest/lowest PE = 8.29/6.74 (DPS 0.07)
- Estimate next 4Q eps after 2008 Q4 result announced = 0.107*4 = 0.428, estimate highest/lowest PE = 6.99/6.17 (DPS 0.07)

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Sunday, April 17, 2011

KLCI Stock - BSTEAD / 2771 - 2010 Quarter 4

Company Info
Market Capital (Capital Size)5,481,147,369 (Very Large)
Par ValueRM 0.50

My Analysis
Forecast P/E now(5.83-0.39)/0.5557 = 9.79 (Moderate)
Target Price7.78+0.39 = 8.17 (PE 14.0, EPS 0.5557, DPS 0.39)
DecisionBUY
Comment
Revenue increased 11.6% and is second consecutive quarter increasing and also higher than preceding year corresponding quarter 14.1%, eps increased 127.4% and also higher than preceding year corresponding quarter 37.2%, cash generated from operating is not enough to pay financing activities, liquidity ratio improving but still at weak level now, high gearing ratio, all accounting periods are good, CPO price decreasing, venture into aviation business, working on to involve in the land development, bought PHARMA
First Support Price5.4
Second Support Price5.15
Risk RatingMODERATE

Research House
ECM Target Price5.96 (2010-04-04)
S&P Target Price6 (2010-11-30)
TA Target Price6.94 (2010-12-23)
HwangDBS Target Price8.1 (2011-02-07)
CIMB Target Price6.06 (2011-02-28)
AMMB Target Price5.2 (2011-03-29)
HLG Target Price7.87 (2011-04-13)

Accounting Ratio
Return on Equity11.44%
Dividend Yield6.69%
Profit Margin14.91%
Tax Rate6.87%
Asset Turnover0.667
Net Asset Value Per Share4.52
Net Tangible Asset per share3.43
Price/Net Tangible Asset Per Share1.57
Cash Per Share0.45
Liquidity Current Ratio0.5581
Liquidity Quick Ratio0.4836
Liquidity Cash Ratio0.1137
Gearing Debt to Equity Ratio1.0808
Gearing Debt to Asset Ratio0.493
Working capital per thousand Ringgit sale-26.7%
Days to sell the inventory18
Days to collect the receivables76
Days to pay the payables72

My notes based on 2010 quarter 4 report (number in '000):-
- Notable increase in revenue from both the Plantation and Trading Divisions was attributable to the stronger palm product prices and higher sales volume respectively

- During the year, the Division achieved an average palm oil price of RM2,622 per MT, an increase of RM452 or 21% against last year corresponding period's average of RM2,170 per MT. The cumulative FFB crop totalling 1,070,455 MT was 3% lower

- During the year, the Division’s investment property portfolio had appreciated and contributed a fair value gain of RM52 million. At the same time, performance for property development, retail mall operations and hotels also improved

- Finance & Investment Division got interest savings at Boustead Holdings level and better earnings from the Affin group as well as the disposal of BH Insurance had enhanced the Division’s performance

- During the period, all the operating units in the Division had performed well, with notable increase from BH Petrol operations which enjoyed an increase in sales volume and stockholding gains

- Plantation profit for the current quarter was 27% better than the preceding quarter, mainly due to stronger CPO price which averaged at RM2,977 (Previous quarter: RM2,554) per MT

- Property Division’s pre-tax profit was better than the previous quarter, on fair value gain on investment properties and higher progress billings

- Heavy Industries Division’s profit for the current quarter was marginally lower than the preceding quarter mainly on cost escalation

- The Finance & Investment Division’s profit for the current quarter was higher, mainly on improved contribution from the Affin group. Trading Division registered a two-fold increase in pre-tax profit during the current quarter, on better sales volume and stockholding gain

- Estimate next 4Q eps after 2010 Q4 result announced = 0.2646*2*1.05 = 0.5557(exclude RM52 million one off gained), estimate PE on current price 5.83 = 9.79(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)

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Thursday, April 14, 2011

KLCI Stock - AXIATA / 6888 - 2010 Quarter 4

Company Info
Market Capital (Capital Size)40,536,741,384 (Very Large)
Par ValueRM 1.00

My Analysis
Forecast P/E now(4.8-0.1)/0.3024 = 15.54 (Moderate)
Target Price4.84+0.1 = 4.94 (PE 16.0, EPS 0.3024, DPS 0.1)
DecisionNot buy unless price below 4.7
Comment
Revenue increased 2% to highest all the time and is consecutive quarter increase since FY09Q1 (higher than preceding year corresponding quarter 6.9%), eps decreased 157.4% and also lower than preceding year corresponding quarter 165.6%, cash generated from operating still not even enough to cover repayment of borrowings, and still got investing activities hence still will generate cash from financing activities, liquidity ratio increasing at low level now, gearing ratio increased at above moderate level now, high payables, weakening IDR against MYR, weakening USD against MYR
First Support Price4.6
Second Support Price4.4
Risk RatingMODERATE

Research House
TA Target Price5.9 (2010-11-25)
JP Morgan Target Price5.9 (2010-12-09)
MIDF Target Price5.7 (2011-01-19)
RHB Target Price5.75 (2011-02-21)
CIMB Target Price5.9 (2011-02-24)
ECM Target Price6.08 (2011-02-24)
HLG Target Price5.32 (2011-02-24)
Maybank Target Price5.6 (2011-02-24)
OSK Target Price5.83 (2011-03-15)
HwangDBS Target Price5.6 (2011-03-23)
Credit Suisse Target Price6.1 (2011-03-30)
AMMB Target Price6.24 (2011-04-04)

Accounting Ratio
Return on Equity8.73%
Dividend Yield2.08%
Profit Margin-0.67%
Tax Rate-
Asset Turnover0.41
Net Asset Value Per Share2.21
Net Tangible Asset per share1.31
Price/Net Tangible Asset Per Share3.78
Cash Per Share0.74
Liquidity Current Ratio1.3887
Liquidity Quick Ratio1.3746
Liquidity Cash Ratio1.0353
Gearing Debt to Equity Ratio0.9518
Gearing Debt to Asset Ratio0.4678
Working capital per thousand Ringgit sale15.1%
Days to sell the inventory4
Days to collect the receivables40
Days to pay the payables236

My notes based on 2010 quarter 4 report (number in '000):-
- XL revenue grew in tandem with the increase in subscriber base of 28.1% as compared to Q4’09. Celcom revenue grew 1.1% driven by increase in total net additions of more than 100% and broadband subscribers of 67.7%. While Dialog revenue grew by 4.0% resulted from 15.0% increased in postpaid usage and 7.2% increase in revenue generating base subscribers

- The Group mobile revenue grew by 5.1% in the current quarter from Q4’09 mainly from strong data and VAS growth of 63.9% and 31.8% respectively

- The fluctuation of RM against local currencies had unfavourably affected the overall Group’s translated revenue. At constant currency using Q4’09 exchange rate, the Group revenue would have registered a higher growth of 9.9%

- The Group operating costs increased by 7.9% to RM2,286.9 million in Q4’10 from RM2,120.3 million in Q4’09, mainly driven by Celcom and XL. In Q4’10, Celcom recorded higher marketing cost and network related cost on leased line and site operating charges. XL recorded higher marketing costs during the current quarter due to new programs launched and higher commission expense. Increase in XL other operating costs in the current quarter is also due to higher interconnect and VAS cost in line with higher revenue

- Depreciation, amortisation and impairment in current quarter increased by RM982.6 million mainly resulted from the impairment on the investment in an associate

- The Group net finance costs was lower in current quarter at RM116.1 million as compared to RM155.5 million in Q4’09 as a result of repayment of debt and reduction of overall debt position at Group level

- The Group loss after tax was RM260.8 million, decreased by 143.3% from profit after tax (“PAT”) of RM602.4 million reported in Q4’09. This was mainly due to impairment recorded during the current quarter

- The Group other operating income increased by 65.3% to RM434.9 million for the financial year under review from RM263.1 million in the corresponding financial year mainly arising from net gain from the partial disposal of equity interest in XL

- For the financial year under review, the Group recorded foreign exchange loss of RM15.8 million as compared to the gains of RM587.2 million in the corresponding year, mainly arising from revaluation of USD borrowings and payables

- Estimate next 4Q eps after 2010 Q4 result announced = 0.072*4*1.05 = 0.3024, estimate PE on current price 4.8 = 15.54
- Estimate next 4Q eps after 2010 Q3 result announced = 0.0752*4*1.05 = 0.3158, estimate highest/lowest PE = 16.12/13.93
- Estimate next 4Q eps after 2010 Q2 result announced = 0.0681*4*1.05 = 0.286, estimate highest/lowest PE = 16.29/15.24
- Estimate next 4Q eps after 2010 Q1 result announced = 0.265(no adjustment due to higher profit is from non-repeatable income), estimate highest/lowest PE = 16.98/13.89
- Estimate next 4Q eps after 2009 Q4 result announced = 0.631(average recent 3 quarter)*4 = 0.2524+(0.05*0.2524) = 0.265(5% grow from 0.2524), estimate highest/lowest PE = 15.28/13.21
- Estimate next 4Q eps after 2009 Q3 result announced = 0.0595*4 = 0.238, estimate highest/lowest PE = 14.71/12.61
- Estimate next 4Q eps after 2009 Q2 result announced = 0.0579*4 = 0.2316, estimate highest/lowest PE = 14.12/12.52

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Wednesday, April 13, 2011

KLCI Stock - HUAAN / 2739 - 2010 Quarter 4

Company Info
Market Capital (Capital Size)415,253,892 (Small)
Par ValueRM 0.50

My Analysis
Forecast P/E now(0.37-0.00178)/0.0113 = 32.59 (High)
Target Price0.09+0.00178 = 0.09 (PE 8.0, EPS 0.0113, DPS 0.00178)
DecisionNOT BUY
Comment
Revenue increased 12.4% and is second consecutive quarter increasing and also higher than preceding year corresponding quarter 15%, eps increased 200% and also recover from loss over preceding year corresponding quarter, cash generated from operating is enough to cover payables and investing activities, liquidity ratio decreased from moderate to low level now, gearing ratio increased from low to below moderate level now, all accounting periods are good
First Support Price0.33
Second Support Price0.32
Risk RatingHIGH

Research House
OSK Target Price0.41 (2010-12-01)
RHB Target Price0.33 (2010-12-27)

Accounting Ratio
Return on Equity0.92%
Dividend Yield0.48%
Profit Margin0.83%
Tax Rate-
Asset Turnover1.6817
Net Asset Value Per Share0.62
Net Tangible Asset per share0.52
Price/Net Tangible Asset Per Share0.65
Cash Per Share0.02
Liquidity Current Ratio1.9928
Liquidity Quick Ratio1.0525
Liquidity Cash Ratio0.1585
Gearing Debt to Equity Ratio0.2019
Gearing Debt to Asset Ratio0.168
Working capital per thousand Ringgit sale9.9%
Days to sell the inventory34
Days to collect the receivables29
Days to pay the payables37

My notes based on 2010 quarter 4 report (number in '000):-
- Higher revenue was primarily attributable to the favourable upward trend experienced in the pricing of the metallurgical coke and an increase in sales volume

- The average price of metallurgical coke saw an improvement of approximately 16% whilst sales volume grew by approximately 5% respectively during the current quarter compared with those in the preceding year corresponding quarter

- The average prices of ammonium sulphate, crude benzene, tar oil, coal slime and middlings during the current quarter under review have increased by approximately 37%, 16%, 32%, 34% and 33% respectively compared to the same quarter last year

- Following the increase in sales volume and an increase in the average price of raw material (i.e. coking coal) of approximately 21%, the cost of sales for the current quarter under review had risen to RM362.1 million compared to RM318.6 million recorded in the preceding year corresponding quarter, representing a hike of approximately 14%

- As a result of the better average prices of the metallurgical coke and its by-products and the growing sales volume, the Group has managed to turn around and record a gross profit

- The improvement in revenue was primarily attributed to the favourable average pricing of the metallurgical coke and of its by-products in comparison with those prices registered in the preceding quarter. The average prices for metallurgical coke, ammonium sulphate, crude benzene, tar oil, coal slimes and middlings during the current quarter under review were increased by 10%, 29%, 5%, 8%, 31% and 19% respectively

- Cost of sales in the current quarter has correspondingly increased in the preceding quarter ended 30 September 2010, an increase of approximately 14%. This was due to the average coking coal price during the quarter under review being 13% higher than that of the preceding quarter

- As a result of the gradually improving industry circumstances stemming from better average prices for the metallurgical coke and the by-products, the Group recorded a profit for the current quarter of approximately RM3.0 million, signifying its continued profitable streak for the third consecutive quarters since the earlier quarter ended 30 June 2010

- Estimate next 4Q eps after 2010 Q4 result announced = 0.0027*4*1.05 = 0.0113, estimate PE on current price 0.37 = 32.59
- Estimate next 4Q eps after 2010 Q3 result announced = 0.0052*2 = 0.0104, estimate highest/lowest PE = 39.42/31.73

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Tuesday, April 12, 2011

KLCI Stock - GENTING / 3182 - 2010 Quarter 4

Company Info
Market Capital (Capital Size)39,961,249,485 (Very Large)
Par ValueRM 0.10

My Analysis
Forecast P/E now(10.76-0.078)/0.588 = 18.17 (High)
Target Price10.58+0.078 = 10.66 (PE 18.0, EPS 0.588, DPS 0.078)
DecisionNot buy unless price below 10.2
Comment
Revenue increased 4.5% and also higher than preceding year corresponding quarter 76.1%, eps decreased 39.1% but higher than preceding year corresponding quarter 90%, cash generated from operating is enough to cover repayment of financing activities but due to more investing activities hence will require increase borrowings, liquidity ratio slightly increased at high level now, gearing ratio decreasing at high level now, payables decreasing but still high, CPO price increasing
First Support Price10.0
Second Support Price9.8
Risk RatingMODERATE

Research House
UOB Target Price12.54 (2011-01-12)
Credit Suisse Target Price13.5 (2011-01-13)
CIMB Target Price15.5 (2011-02-07)
TA Target Price13.26 (2011-02-18)
HwangDBS Target Price14.3 (2011-02-24)
Maybank Target Price12.58 (2011-02-24)
RHB Target Price12.4 (2011-03-01)
Macquarie Target Price11.6 (2011-04-06)

Accounting Ratio
Return on Equity7.47%
Dividend Yield0.72%
Profit Margin28.95%
Tax Rate31.83%
Asset Turnover0.31
Net Asset Value Per Share4.19
Net Tangible Asset per share3.17
Price/Net Tangible Asset Per Share3.27
Cash Per Share4.41
Liquidity Current Ratio3.2611
Liquidity Quick Ratio3.1706
Liquidity Cash Ratio2.7703
Gearing Debt to Equity Ratio1.2626
Gearing Debt to Asset Ratio0.3992
Working capital per thousand Ringgit sale87.9%
Days to sell the inventory23
Days to collect the receivables55
Days to pay the payables176

My notes based on 2010 quarter 4 report (number in '000):-
- The increase revenue came mainly from the Leisure & Hospitality Division with the commencement of operations of Resorts World Sentosa (“RWS”) in Singapore in the first quarter of this year. Revenue from Resorts World Genting (“RWG”) increased mainly due to better luck factor in the premium players business. The revenue from the UK casino operations decreased mainly due to poor luck factor and the weaker Sterling Pound. However, the business volume has shown improvement over the previous year’s corresponding quarter

- Increased revenue from the Plantation Division was due to higher palm products prices

- The lower revenue from the Power Division was due to lower generation of electricity by both the Kuala Langat and the Meizhou Wan power plants

- The lower revenue from the Oil & Gas Division was due to the disposal of Genting Oil & Gas (China) Limited

- EBITDA of RWS was higher in the current quarter due to the improvement in revenue substantially contributed by the increase in the volume of premium players’ business, with significant contribution from Universal Studios Singapore and the hotels

- The profit before tax of the Group in the preceding quarter included a one-off net gain of RM413.6 million arising from Deferred Consideration and net impairment losses of RM250.6 million, whilst a loss of RM145.4 million arising from loss on discontinuance of cash flow hedge accounting using IRS was recorded in the current quarter

- Estimate next 4Q eps after 2010 Q4 result announced = 0.14*4*1.05 = 0.588, estimate PE on current price 10.76 = 18.17(DPS 0.075)
- Estimate next 4Q eps after 2010 Q3 result announced = 0.0945*4 = 0.3781, estimate highest/lowest PE = 31.49/26.22 (DPS 0.075)
- Estimate next 4Q eps after 2010 Q2 result announced = 0.1985*4 = 0.794, estimate highest/lowest PE = 13.53/11.22 (DPS 0.075)
- Estimate next 4Q eps after 2010 Q1 result announced = 0.2813*1.15 = 0.3235(15% increased), estimate highest/lowest PE = 21.54/2 (DPS 0.072)
- Estimate next 4Q eps after 2009 Q4 result announced = 0.0661*4 = 0.2644, estimate highest/lowest PE = 26.77/23.18 (DPS 0.072)
- Estimate next 4Q eps after 2009 Q3 result announced = 0.0999*4 = 0.3996, estimate highest/lowest PE = 19.09/15.62 (DPS 0.07)
- Estimate next 4Q eps after 2009 Q2 result announced = 0.0577*4 = 0.2308, estimate highest/lowest PE = 33.23/27.64 (DPS 0.07)
- Estimate next 4Q eps after 2009 Q1 result announced = 0.0574*4 = 0.2296, estimate highest/lowest PE = 28.88/23 (DPS 0.07)

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Monday, April 11, 2011

KLCI Stock - HEXAGON / 7455 - 2011 Quarter 3

Company Info
Market Capital (Capital Size)67,011,099 (Very Small)
Par ValueRM 0.50

My Analysis
Forecast P/E now0.505/0.0176 = 28.69 (High)
Target Price0.0176*5.0 = 0.09 (PE 5.0, EPS 0.0176)
DecisionNot interested unless profit margin increase more
Comment
Revenue increased 25.9% and is second consecutive quarter increasing and also higher than preceding year corresponding quarter 73.9%, eps decreased 79.6% but is recover from loss in preceding year corresponding quarter, cash generated from operating is not enough to cover increased receivables hence still increased borrowing, liquidity ratio increasing at low level now, gearing ratio increasing at very high level now, still high receivables compare to working capital, continuing affect by weakening of USD and Europe currencies
First Support Price0.42
Second Support Price0.4
Risk RatingHIGH

Accounting Ratio
Return on Equity3.63%
Dividend Yield-
Profit Margin1.07%
Tax Rate6.12%
Asset Turnover0.9245
Net Asset Value Per Share0.78
Net Tangible Asset per share0.76
Price/Net Tangible Asset Per Share0.64
Cash Per Share0.28
Liquidity Current Ratio1.2672
Liquidity Quick Ratio1.0853
Liquidity Cash Ratio0.1291
Gearing Debt to Equity Ratio3.3826
Gearing Debt to Asset Ratio0.7418
Working capital per thousand Ringgit sale17.4%
Days to sell the inventory46
Days to collect the receivables227
Days to pay the payables78

My notes based on 2011 quarter 3 report (number in '000):-
- For the current quarter compared to preceding year corresponding quarter, the Group revenue was higher primarily generated from engineering division which managed to secure some fast-track projects during the year. PAT improved significantly largely attributed to higher margin and revenue, and lower overheads across the business segments

- Engineering division has contributed significantly to the revenue growth as the new projects were progressing smoothly during the current quarter but lower margin from some of the existing projects has affected the Group PAT

- Estimate next 4Q eps after 2011 Q3 result announced = 0.0042*4*1.05 = 0.0176, estimate PE on current price 0.505 = 28.69
- Estimate next 4Q eps after 2011 Q2 result announced = 0.0065*4 = 0.026, estimate highest/lowest PE = 23.65/16.15
- Estimate next 4Q eps after 2011 Q1 result announced = 0.0059*4 = 0.0236, estimate highest/lowest PE = 25.42/17.8

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HEXAGON latest news (Chinese)


Sunday, April 10, 2011

KLCI Stock - NAIM / 5073 - 2010 Quarter 4

Company Info
Market Capital (Capital Size)785,000,000 (Medium)
Par ValueRM 1.00

My Analysis
Forecast P/E now(3.14-0.1)/0.3316 = 9.17 (Moderate)
Target Price3.32+0.1 = 3.42 (PE 10.0, EPS 0.3316, DPS 0.1)
DecisionBUY
Comment
Revenue increased 38.4% and higher than preceding year corresponding quarter 1.2%, eps decreased 40.9% and also lower than preceding year corresponding quarter 12.9%, cash generated from operating not enough to cover investing & financing activities, liquidity ratio increasing at moderate level now, gearing ratio decreasing at below moderate level now, receivables increasing but offset by payables decreasing, provision of financial assistance status
First Support Price3.0
Second Support Price2.8
Risk RatingMODERATE

Research House
OSK Target Price5.1 (2011-01-05)
TA Target Price5.53 (2011-01-26)
AMMB Target Price5.09 (2011-02-09)
Kenanga Target Price4.2 (2011-03-01)
MIDF Target Price4.65 (2011-03-01)

Accounting Ratio
Return on Equity13.13%
Dividend Yield3.18%
Profit Margin16.83%
Tax Rate33.52%
Asset Turnover0.5822
Net Asset Value Per Share3.06
Net Tangible Asset per share3.02
Price/Net Tangible Asset Per Share1.09
Cash Per Share0.17
Liquidity Current Ratio2.4632
Liquidity Quick Ratio1.5013
Liquidity Cash Ratio0.1585
Gearing Debt to Equity Ratio0.4381
Gearing Debt to Asset Ratio0.3002
Working capital per thousand Ringgit sale59.0%
Days to sell the inventory171
Days to collect the receivables193
Days to pay the payables100

My notes based on 2010 quarter 4 report (number in '000):-
- The increase revenue mainly contributed by higher sales of properties as well as substantial completion of certain construction projects

- In addition, its oil and gas associate, Dayang Enterprise Holdings Berhad, continues to contribute positively to the earnings of the Group for the year

- Group profit before tax decreased substantially to RM33 million as compared to RM50 million in the immediate preceding quarter, mainly due to recognition of variation orders for and closure of certain projects during the quarter under review

- Estimate next 4Q eps after 2010 Q4 result announced = 0.0921*4*0.9 = 0.3316, estimate PE on current price 3.14 = 9.17(DPS 0.1)
- Estimate next 4Q eps after 2010 Q3 result announced = 0.2587*2*0.9 = 0.4657, estimate highest/lowest PE = 8.16/6.79 (DPS 0.1)
- Estimate next 4Q eps after 2010 Q2 result announced = 0.1619*2*1.1 = 0.3562, estimate highest/lowest PE = 10.47/8.84 (DPS 0.1)
- Estimate next 4Q eps after 2010 Q1 result announced = 0.2988 (10% drop from 0.332, due to profit decreasing), estimate highest/lowest PE = 11.28/8.57 (DPS 0.08)
- Estimate next 4Q eps after 2009 Q4 result announced = 0.0793*4 = 0.3172, estimate highest/lowest PE = 11.41/8.89 (DPS 0.08)
- Estimate next 4Q eps after 2009 Q3 result announced = 0.0902*4 = 0.3608, estimate highest/lowest PE = 9.87/6.59 (DPS 0.08)
- Estimate next 4Q eps after 2009 Q2 result announced = 0.0955*4 = 0.382, estimate highest/lowest PE = 8.04/6.73 (DPS 0.08)
- Estimate next 4Q eps after 2009 Q1 result announced = 0.0668*4 = 0.2672, estimate highest/lowest PE = 10.18/6.4 (DPS 0.13)
- Estimate next 4Q eps after 2008 Q4 result announced = 0.1118*4 = 0.4472, estimate highest/lowest PE = 4.07/2.17 (DPS 0.13)

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KLCI Stock - SUNWAY / 4308 - 2010 Quarter 4

SUNWAY HOLDINGS BERHAD

Company Description
SUNWAY HOLDINGS BERHAD, formerly Sunway Holdings Incorporated Berhad, is engaged in the business of investment holding and provision of management services. The principal activities of the Company include construction related design and build, civil engineering, building works, manufacturing and trading of building materials, trading and distribution of construction related products, quarrying, property development and trading of pharmaceutical products. It operates in six segments: construction, property development, trading and manufacturing, building materials, quarry, financial services and investment holding. In December 2007, SunCon acquired a 70% interest in ABS Development Sdn Bhd. On January 8, 2008, SunInc completed the acquisition of Ansa Teknik Holdings Sdn Bhd.

Company Info
Listing Date1984-02-16
Market Capital (Capital Size)1,429,579,624 (Large)
Par ValueRM 1.00
BoardMain
SectorConstruction
Major IndustryCivil Engineering
Sub IndustryTrading of Pharmaceutical & Construction Related Products
Websitehttp://www.sunway.com.my

My Analysis
Forecast P/E now2.35/0.1882 = 12.49 (Moderate)
Target Price0.1882*13.0 = 2.45 (PE 13.0, EPS 0.1882)
DecisionNOT BUY unless price below 2.2
Comment
Revenue increased 1.6% and also higher than preceding year corresponding quarter 31.9%, eps decreased 51% and is second consecutive quarter decreasing but higher than preceding year corresponding quarter 6%, cash generated from operating still not enough to cover financing activities hence still need generate cash from financing activities, liquidity ratio increased at low level now, gearing ratio decreasing but still at high level now, all accounting periods are improve, merges offer RM2.6/share with SunCity
First Support Price2.2
Second Support Price2.0
Risk RatingMODERATE

Research House
Maybank Target Price2.6 (2011-03-08)
OSK Target Price2.6 (2011-03-08)
ECM Target Price2.6 (2011-04-04)

Accounting Ratio
Return on Equity15.59%
Dividend Yield-
Profit Margin7.52%
Tax Rate28.22%
Asset Turnover0.8206
Net Asset Value Per Share1.47
Net Tangible Asset per share1.27
Price/Net Tangible Asset Per Share1.69
Cash Per Share0.37
Liquidity Current Ratio1.4163
Liquidity Quick Ratio1.0229
Liquidity Cash Ratio0.2687
Gearing Debt to Equity Ratio1.4655
Gearing Debt to Asset Ratio0.5712
Working capital per thousand Ringgit sale19.8%
Days to sell the inventory72
Days to collect the receivables125
Days to pay the payables143

My notes based on 2010 quarter 4 report (number in '000):-
- The Group recorded revenue of RM496.7 million and profit before taxation of RM37.3 million during the quarter under review. These results include RM2.2 million gains arising mainly from the adoption of FRS 139

- During the 12-month period under review, the Group achieved revenue of RM1,996.6 million and profit before taxation of RM208.0 million, which includes RM14.5 million gains arising from the adoption of FRS 139 and also gain from disposal of its sole hotel asset of RM13.4 million

- Despite an increase in revenue, the lower profit before taxation in the current quarter was mainly attributed by the share of losses from associates as well as provisions for impairment losses made by certain subsidiaries in respect of properties, plant and equipment and inventories

- Outstanding order book of RM2.4 billion from construction division

- The property development division currently has unbilled sales of RM472 million

- Estimate next 4Q eps after 2010 Q4 result announced = 0.2091*0.9 = 0.1882(exclude RM27.9 million non-repeatable gain), estimate PE on current price 2.35 = 12.49
- Estimate next 4Q eps after 2010 Q3 result announced = 0.065*4 = 0.26, estimate highest/lowest PE = 9.22/7.99 (DPS 0.02)
- Estimate next 4Q eps after 2010 Q2 result announced = 0.058*0.85*4 = 0.1972(15% deduction adjustment due to segments result 20% lower than preceding quarter), estimate highest/lowest PE = 11.56/7.86 (DPS 0.02)
- Estimate next 4Q eps after 2010 Q1 result announced = 0.058(exclude FRS 139)*4*1.1 = 0.2552(10% QbQ improvement adjustment), estimate highest/lowest PE = 6.54/5.09 (DPS 0.02)
- Estimate next 4Q eps after 2009 Q6 result announced = 0.041*4*1.1 = 0.1804, estimate highest/lowest PE = 9.48/7.1 (DPS 0.02)
- Estimate next 4Q eps after 2009 Q5 result announced = 0.0318*4 = 0.1272, estimate highest/lowest PE = 11.95/8.88 (DPS 0.03)
- Estimate next 4Q eps after 2009 Q4 result announced = 0.0352*4*1.1 = 0.1549, estimate highest/lowest PE = 9.36/8.26 (DPS 0.03)

SUNWAY latest news (English)

SUNWAY latest news (Chinese)

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
2011-02-2820104N/AN/A-2.45%15.59%496712199657737344207971256091626080.03730.252424330941389895947891043199238533470511208971735211914827058524410668568664412414742242010-12-317.52%28.22%0.82068.51661.471.271.690.371.41631.02290.26871.46550.571219.8%72125143
2010-11-24201032.422.1-4.90%13.86%489015149986561039170627484941369990.07620.21952407039141837393290988666179436176091065091730721970459053626360863645562423914065652010-09-3012.48%15.40%0.7796-1.431.231.80.461.11250.80710.23241.58410.58937.5%78133151
2010-08-24201022.31.57-5.19%9.45%50917010108505923110958848612885050.07830.14372331337139523089655936107674531272522606177516547283212220963862049361591510176082010-06-3011.63%10.58%0.7588-1.371.171.40.381.33970.96060.23161.64830.598519.4%82146142
2010-05-25201011.691.32-4.52%4.52%501680501680503575035739893398930.06540.06542259182137609787900883085518853133429861787204875257661844866100456100457991582010-03-3110.04%18.38%0.7576-1.31.091.20.321.35460.97290.20371.73050.609119.9%82147149
2010-02-24200961.731.30.02252.80%12.72%501566258987936702153944240811092780.04100.203523068831447694882298591892920002038001991111496788200682891832565867325369338214242009-12-317.32%25.78%0.7245-1.441.21.170.351.3260.93310.20081.87780.627619.9%89152157
2009-11-24200951.551.16-2.16%10.23%41149020883132348411724218003851970.03180.161322720011439239860438327621630131838203683111432620807160241303505655785280827522182009-09-305.71%20.07%0.7136-1.411.161.150.311.38850.94940.17931.92740.633523.3%99163153
2009-08-25200941.481.31-2.49%9.09%3766331676823222359375818408671940.03520.12842169809143065084841739159132623149109205241177881648640381218265232875234237692312009-06-305.90%14.12%0.772811.45091.250.991.480.281.34950.90870.15722.18650.659319.8%94150137
2009-05-26200931.581.02-2.14%6.74%3816361300190179407152315500487860.02960.09322172889144937284261723517887031435543519611967154851196551000165233765235695443112009-03-314.70%13.40%0.8651-1.220.961.080.231.35280.92640.12722.26730.66718.0%82143127
2009-02-26200921.070.625-2.13%4.60%451538918554267335358315434332860.02950.0636219181914683538420572346633003114500500481185028149731449870535233765236633506612008-12-315.92%22.39%0.8461-1.220.960.70.231.36330.93050.12232.2970.669919.4%89153135
2008-11-27200910.810.65-2.67%2.67%467016467016268502685017852178520.03410.0341214410314753345434466876937773850726598011960047299186811382815239505239503772442008-09-305.75%30.50%0.8629-1.170.920.780.311.33960.93030.16362.40120.688118.0%83144133
2008-08-26200840.9350.5250.0283452.67%15.52%579491182520324567128522172391001550.03070.169720223451377161467476451841700761561575365315722813919397341174945607345900924710162008-06-304.24%29.84%0.90254.94911.010.81.050.251.43391.0440.15722.30130.68121.5%75155135
2008-05-29200831.420.81-3.92%13.33%35645612457123049810395524388829160.04210.138920599131437666392386222475853466272799341578267738721962300225799315969238177022008-03-318.56%21.38%0.9087-0.980.761.860.451.15510.86050.21842.46590.69799.9%70141116
2008-02-25200821.561.23-5.10%9.47%447263889256362107345731488585280.05770.1002198487313670863623161778717610741118107836157927134989271531850805461075841857263222007-12-318.10%8.67%0.9506-1.00.791.680.411.17250.86120.19382.35070.688810.5%70139123
2007-11-29200812.01.12-4.66%4.66%441993441993372473724727040270400.04900.049021031061522365406055807411005791081044557158480897694521220369255154855154810203632007-09-308.43%25.01%0.9327-0.980.772.40.461.12990.8970.19032.81850.72398.8%59167140
2007-08-30200742.21.79-8.17%1.71%626143189654135803176784482393830.08290.01742043927149514140053548786103694101560177571740332134156231584105404915403238053312007-06-305.72%-0.7434-0.940.732.040.381.10660.86730.15832.9390.73159.1%74217165
2007-05-3120073N/AN/A-2.31%5.99%3714221270398185185348113659354400.02530.0656203249014408363698059165454326297024318417101424624185601524545402675402673619782007-03-314.99%23.12%0.4395-1.030.810.830.391.50291.13540.2092.59760.708956.7%160381311
2007-02-2820072N/AN/A-2.65%3.77%521953898976225843496315290217810.02830.040319527491375001341335777481209521577159551717869482254371463495402675402672215092006-12-314.33%21.99%N/A-1.010.790.520.361.65641.24120.22382.52940.7041N/A-N/AN/A

Financial Quarter Balance Sheet
yearqrtDeferred tax assets (A-0)Derivative assets (A-0)Goodwill on consolidation (A-0)Investment in associated companies (A-0)Investment in jointly controlled entity (A-0)Investment properties (A-0)Land held for property development (A-0)Loan to jointly controlled entities (A-0)Other investments (A-0)Prepaid lease payments (A-0)Property, plant and equipment (A-0)Quarry development expenditure (A-0)Receivables (A-0)Rock reserves (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 (A-1)Property development costs (A-1)ABS senior notes (L-0)Deferred tax liabilities (L-0)Derivative liabilities (L-0)Loans & borrowings (L-0)Other liabilities (L-0)Cumulative redeemable preference shares (L-1)Current tax liabilities (L-1)Derivative liabilities (L-1)Financial liabilities (L-1)Liabilities directly associated with assets classified as held for sale (L-1)Loans & borrowings (L-1)Other payables (L-1)Minority interest (M-1)
2010411548-127842671982233183665833851560071710-381266-196699314255743-206091248428643968484488053-18009133419836--24524279--17982974728594789
2010313992428912784274766183163366583174971811667-391473-178239547292108-30131658228514268569698798-16443264144646--20517366--49512874100993290
2010212362236212784273527161591366582996939941414-385229-196189782234617-27669299028998370765994037-15048287367022-800016669592--32204766556589655
2010112767-12872870887144712366582546917111468-388740-21137100161959252081723980484129580369009771342-15290-399062-15000157692347-347325784766730987900
2009614611-12872869262135633366582247917161692-402290-16843102492044482189227179-30488869644595095-18139-411478-1500015610--367628147270231988229
2009514974-1349066548511867038765890292921174116392393533-205281759174127-23613-321153724223105198-14185-43399320000-15914---29653565861286043
2009415303-134906616038805938765960991132149116691388135-276191765149015-23803-32372168882194260-14700-467751--20761---32083560660384841
2009315613-1349065803384972387660125823431176116777388649-155011770122090-29638-32705573756782213-14553-474908--13668---31629262995184261
2009212301-1349065406174884387660660823431175916454369600-200131776121038-21840-34933777801578956-14307-464408--10752---32617965270784205
2009111798-1349065247166414387671437752321187616966361291-204731782160709-21080-33024273184871702-12651-480619--16380---32346764221754344
2008414853-1259914918555253387668988353081108016427328511-114681789142445-27863-29213277591661260-15204-455576--13134---25584963739846747
2008313226-127679502575923876104421340621141113509303146-919917952621652078325443-287380724725662449157513344-132174--14282---60224158405039238
2008213874-1216495616360938769051532592152813077300497-765318002216661975025279-291907718338641009133214002-117966--24915-50000-44293862593336231
2008112261-1160154427665238767767432583153113246282153-1131918102536452651519186-291118895970192769108914087-84552--24105-50000-51661874191440605
2007414139-116011399494527938765275731652161913251281201-77571810205216-17571-30416190154461349084614547-93357--18309-50000-54111068697240053
2007315241-11544243235--51642-1800-280015122084271810210455---356319933117137679060214987-328059--14660---27443471809436980
2007211518-11544241931--51627-1800-2923751134125051810192214---35365187377329699035913711-412101--25226---20203163157334133

Financial Quarter Income Statement
yearqrtRevenueIncome tax expenseFinance/interest costsOther incomeAdministrative/Operating expensesMinority interestFinance/interest incomeShare of profit/ (loss) of associatesDerivative (loss)/gainShare of net profit of jointly controlled entity
201044967121053911084150754836701196589230261222942451
201034890159399822015576464799314614171238576221050
20102509170626785782131549646943529662987199727843
201015016809254800475454663471210191162545889079
2009650156694628642918348530031596624143-15090
200954114904714697469774021257678993881-9336
20094376633314011039975436663868718374263-7425
200933816362404993611238379698366393972-10089
20092451538598512368839642609653147181590-2955
2009146701681891064091754489348098063284-6143
2008457949173301276281195615292854318-10076
20083356456652110420713032961241128804093-29
2008244726331391223919962421688158310691886-43
20081441993931511237983340889589212554328-30
200746261438271123222518767795774912901857-1
20073371422428211127325134755457712201306--
2007252195349661249110755495712232849446865--

Financial Quarter Segments Revenue
yearqrtOthersProperty developmentConstructionInvestment holdingTradingFinancial ServicesBuilding MaterialsQuarry
20104962463662306763371344104793071452768
201031698193072859245321088876592803643972
201023459243072783072701302756543044841450
201012455400992812751581086445982749840953
200965010417172600131771133256153510045609
20095290995312219741591069676422787641432
20094230188541921971171004686122630645778
2009345998038182481117899364572201373821
20092582313759221928254950456632637787863
20091494226032433521211013216403217981858
2008449191240321905212211134417231440197592
2008367035129190168122907673142408739166

Financial Quarter Segments Profit
yearqrtOthersProperty developmentConstructionInvestment holdingTradingFinancial ServicesBuilding MaterialsQuarry
201043631576293091218470178101874343
2010313871762602917079439264200990
201024004451171723200120163272923142
20101599593126480113679714135602060
20096544431615944728636346159566
2009515831110770223362673841205515
2009473080311631435771752711163607
20093700763284935053928397135110921
200922446530310442297743874485813847
20091242942388410601079824311309344
2008468523273786029461127783757354478
20083117816042602419398147138264412

Financial Quarter Segments Associate
yearqrtOthersProperty developmentConstructionTrading
2010412231324057984-
20103127752351581539
201023027156561218740
2010116431274780518
20096210092987835-
2009519213176813818
200942303259667934
200938043685964674
20092300208821614
200911521517627333
20084690-845562
200831834-22322

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






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