Company Info
| Market Capital (Capital Size) | 287,741,082 (Small) |
| Par Value | RM 1.00 |
My Analysis
| Forecast P/E now | (1.48-0.081)/0.1544 = 9.06 (High) |
| Target Price | 1.24+0.081 = 1.32 (PE 8.0, EPS 0.1544, DPS 0.081) |
| Decision | Not interested unless stock price sustain above 1.5 |
| Comment | Revenue decreased 28.8% and was second consecutive quarter decreasing and also lower than preceding year corresponding quarter 48.4%, eps decreased 9% and was second consecutive quarter decreasing and also lower than preceding year corresponding quarter 78.4%, cash generated from operating more than enough to cover financing repayment and together cash generated from financing also enough to cover investing expenses, stronger liquidity ratio from moderate to high level now, higher gearing ratio at below moderate level now, all accounting ratio still acceptable, no new property development cost hence the division revenue decreasing |
| First Support Price | 1.4 |
| Second Support Price | 1.3 |
| Risk Rating | MODERATE |
Research House
| Kenanga Target Price | 1.76 (2011-02-18) |
| OSK Target Price | 2.48 (2011-05-20) |
| Alliance Target Price | 2.53 (2011-05-23) |
Accounting Ratio
| Return on Equity | 8.12% |
| Dividend Yield | 5.47% |
| Profit Margin | 31.48% |
| Tax Rate | 24.89% |
| Asset Turnover | 0.3131 |
| Net Asset Value Per Share | 2.31 |
| Net Tangible Asset per share | 2.31 |
| Price/Net Tangible Asset Per Share | 0.65 |
| Cash Per Share | 0.44 |
| Liquidity Current Ratio | 3.0826 |
| Liquidity Quick Ratio | 1.9022 |
| Liquidity Cash Ratio | 0.9849 |
| Gearing Debt to Equity Ratio | 0.4057 |
| Gearing Debt to Asset Ratio | 0.2782 |
| Working capital per thousand Ringgit sale | 87.3% |
| Days to sell the inventory | 232 |
| Days to collect the receivables | 136 |
| Days to pay the payables | 187 |
Technical Analysis
| SMA 20 | 1.468 (Uptrend 7 days) |
| SMA 50 | 1.485 (Downtrend) |
| SMA 100 | 1.486 (Downtrend) |
| SMA 200 | 1.525 (Same) |
| MACD | 0.007166 (Uptrend 3 days) |
| MACD Histogram | 0.004802 (Uptrend 14 days) |
My notes based on 2012 quarter 1 report (number in '000):-
- A revaluation exercise of Investment Properties which recognised the increase in the carrying amount of RM22.7 million to the Income Statement in preceding’s year corresponding quarter. This exercise will be carried out in the 4th quarter during current financial year 2012
- Estimate next 4Q eps after 2012 Q1 result announced = 0.0386*4 = 0.1544, estimate PE on current price 1.48 = 9.06 (DPS 0.081)
- Estimate next 4Q eps after 2011 Q4 result announced = (0.0424+0.0588)*2 = 0.2024, estimate highest/lowest PE = 7.36/6.52 (DPS 0.081)
- Estimate next 4Q eps after 2011 Q3 result announced = 0.0588*4*1.1 = 0.2587, estimate highest/lowest PE = 6.26/5.25 (DPS 0.081)
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