Company Info
| Market Capital (Capital Size) | 1,733,580,875 (Large) |
| Par Value | RM 1.00 |
My Analysis
| Forecast P/E now | 0.685/0.0426 = 16.08 (High) |
| Target Price | 0.0426*14.0 = 0.60 (PE 14.0, EPS 0.0426) |
| Decision | Not interested unless MACD nearly back to uptrend |
| Comment | Revenue decreased 8% and also lower than preceding year corresponding quarter 11.9%, eps increased 42.5% and was second consecutive quarter increasing and also higher than preceding year corresponding quarter 94%, cash generated from operating and investing enough to cover all expenses, stronger liquidity ratio from low to moderate level now, lower gearing ratio at low level now, payables ratio is high, benefit from lower wayleave fees |
| First Support Price | 0.68 |
| Second Support Price | 0.62 |
| Risk Rating | MODERATE |
Research House
| Macquarie Target Price | 0.94 (2011-02-14) |
| OSK Target Price | 0.7 (2012-01-05) |
| HLG Target Price | 0.85 (2012-01-13) |
Accounting Ratio
| Return on Equity | 9.69% |
| Dividend Yield | - |
| Profit Margin | 54.49% |
| Tax Rate | 2.96% |
| Asset Turnover | 0.1889 |
| Net Asset Value Per Share | 0.59 |
| Net Tangible Asset per share | 0.59 |
| Price/Net Tangible Asset Per Share | 1.09 |
| Cash Per Share | 0.09 |
| Liquidity Current Ratio | 2.1411 |
| Liquidity Quick Ratio | 2.1411 |
| Liquidity Cash Ratio | 1.3153 |
| Gearing Debt to Equity Ratio | 0.1142 |
| Gearing Debt to Asset Ratio | 0.1025 |
| Working capital per thousand Ringgit sale | 61.3% |
| Days to sell the inventory | - |
| Days to collect the receivables | 161 |
| Days to pay the payables | 313 |
Technical Analysis
| SMA 20 | 0.704 (Downtrend 13 days) |
| SMA 50 | 0.694 (Same) |
| SMA 100 | 0.623 (Uptrend) |
| SMA 200 | 0.694 (Downtrend) |
| MACD | 0.014002 (Downtrend 16 days) |
| MACD Histogram | -0.008553 (Downtrend 15 days) |
My notes based on 2011 quarter 3 report (number in '000):-
- Lower revenue than FY11Q2 is due to one-off global bandwidth sales entered into in the corresponding quarter
- Higher pbt mainly due to increase in non-global bandwidth sales, adjustments to lower operating expenses (one-time reduction of RM19.7 million and RM8.4 million 2011's wayleave fee)
- Estimate next 4Q eps after 2011 Q3 result announced = 0.0426, estimate PE on current price 0.685 = 16.08
- Estimate next 4Q eps after 2011 Q2 result announced = (0.009+0.0113)*2*1.05 = 0.0426, estimate highest/lowest PE = 16.31/9.74
- Estimate next 4Q eps after 2011 Q1 result announced = 0.009*4*1.05 = 0.0378, estimate highest/lowest PE = 22.22/14.02
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