Company Info
My Analysis
Research House
Accounting Ratio
Technical Analysis
My notes based on 2011 quarter 3 report (number in '000):-
- Lower revenue than FY11Q2 mainly due to lower revenue from construction division
- Lower pbt than FY11Q2 mainly due to lower profit from property investment division, got RM12.9 million listing expenses and loss in derivatives in current quarter
- Estimate next 4Q eps after 2011 Q3 result announced = (0.0715+0.044)*2*1.05 = 0.2426, estimate PE on current price 2.52 = 10.39(DPS 0.081)
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| Market Capital (Capital Size) | 3,257,112,610 (Large) |
| Par Value | RM 1.00 |
My Analysis
| Forecast P/E now | 2.52/0.2426 = 10.39 (Moderate) |
| Target Price | 0.2426*15.0 = 3.64 (PE 15.0, EPS 0.2426) |
| Decision | BUY if Bolinger upper band open and stock price above SMA20 or stock price below SMA20 and buying volume stronger than selling |
| Comment | Revenue decreased 6.8%, eps decreased 23.3%, cash generated from operating more than enough to cover all expenses, better liquidity ratio but still at low level now, higher gearing ratio at high level now, higher inventory and property development cost |
| First Support Price | 2.43 |
| Second Support Price | 2.32 |
| Risk Rating | MODERATE |
Research House
| Maybank Target Price | 2.28 (2011-11-25) |
| HwangDBS Target Price | 3.3 (2011-12-20) |
| MIDF Target Price | 2.55 (2011-12-20) |
| TA Target Price | 3.16 (2011-12-20) |
| Affin Target Price | 2.79 (2011-12-27) |
| OSK Target Price | 3.31 (2011-12-27) |
| HLG Target Price | 3.12 (2012-01-10) |
Accounting Ratio
| Return on Equity | % |
| Dividend Yield | - |
| Profit Margin | 9.71% |
| Tax Rate | 20.63% |
| Asset Turnover | 0.3617 |
| Net Asset Value Per Share | 2.18 |
| Net Tangible Asset per share | 1.92 |
| Price/Net Tangible Asset Per Share | 1.16 |
| Cash Per Share | 0.74 |
| Liquidity Current Ratio | 1.4763 |
| Liquidity Quick Ratio | 1.0618 |
| Liquidity Cash Ratio | 0.4253 |
| Gearing Debt to Equity Ratio | 1.5671 |
| Gearing Debt to Asset Ratio | 0.5766 |
| Working capital per thousand Ringgit sale | 38.5% |
| Days to sell the inventory | 127 |
| Days to collect the receivables | 180 |
| Days to pay the payables | 252 |
Technical Analysis
| SMA 20 | 2.497 (Uptrend 23 days) |
| SMA 50 | 2.394 (Uptrend) |
| SMA 100 | 2.268 (Uptrend) |
| SMA 200 | Not Available |
| MACD | 0.066312 (Downtrend 7 days) |
| MACD Histogram | -0.004476 (Downtrend 5 days) |
My notes based on 2011 quarter 3 report (number in '000):-
- Lower revenue than FY11Q2 mainly due to lower revenue from construction division
- Lower pbt than FY11Q2 mainly due to lower profit from property investment division, got RM12.9 million listing expenses and loss in derivatives in current quarter
- Estimate next 4Q eps after 2011 Q3 result announced = (0.0715+0.044)*2*1.05 = 0.2426, estimate PE on current price 2.52 = 10.39(DPS 0.081)
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