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Tuesday, February 28, 2012

KLCI Stock - DIGI / 6947 - 2011 Quarter 4

DIGI.COM BERHAD

Company Description
DiGi.Com Berhad is a Malaysia-based investment holding company. The Company's wholly owned subsidiary, DiGi Telecommunications Sdn. Bhd. (DTSB), is engaged in the establishment, maintenance and provision of telecommunications and related services. Subsidiaries of DTSB include DiGi Services Sdn. Bhd., which is engaged in property holding, renting of premises and other related services, and Djuice.Com Sdn. Bhd., which is dormant. On February 10, 2009, the Company incorporated a wholly owned subsidiary, Pay By Mobile Sdn Bhd.

Company Info
Listing Date1997-12-18
Market Capital (Capital Size)3,102,225,000 (Large)
Par ValueRM 0.10
BoardMain
SectorIPC
Major IndustryTelecommunication
Sub IndustryMobile Communication & Network Services
Websitehttp://www.digi.com.my

My Analysis
Forecast P/E now(3.99-0.16)/0.1598 = 23.97 (High)
Target Price3.20+0.16 = 3.36 (PE 20.0, EPS 0.1598, DPS 0.16)
DecisionNot interested unless MACD moving back to uptrend and got very stronger buying volume than selling
Comment
Revenue increased 1.7% and is continuous increasing since FY09Q2 and also is highest all the time(higher than preceding year corresponding quarter 8.1%), eps increased 34.8% and was second consecutive quarter increasing and also higher than preceding year corresponding quarter 18.7%, cash generated from operating enough to cover all expenses, slightly higher liquidity ratio but still at weak level now, lower gearing rato but still at very high level now, payables ratio is high, maintaining very high ROE
First Support Price3.95
Second Support Price3.75
Risk RatingMODERATE

Research House
BNP Paribas Target Price3.07 (2011-05-04)
AMMB Target Price2.74 (2011-07-15)
Kenanga Target Price3.22 (2011-07-21)
TA Target Price3.17 (2011-07-21)
CIMB Target Price3.4 (2011-09-09)
HwangDBS Target Price3.22 (2011-09-09)
UOB Target Price3.39 (2011-10-14)
ECM Target Price3.63 (2011-10-25)
HLG Target Price3.17 (2012-01-20)
Maybank Target Price3.74 (2012-01-20)
MIDF Target Price4.35 (2012-01-20)
RHB Target Price4.4 (2012-01-20)
OSK Target Price4 (2012-02-23)

Accounting Ratio
Return on Equity88.87%
Dividend Yield29.20%
Profit Margin25.19%
Tax Rate-
Asset Turnover1.2263
Net Asset Value Per Share0.18
Net Tangible Asset per share0.09
Price/Net Tangible Asset Per Share43.11
Cash Per Share0.14
Liquidity Current Ratio0.6258
Liquidity Quick Ratio0.5996
Liquidity Cash Ratio0.4235
Gearing Debt to Equity Ratio2.4457
Gearing Debt to Asset Ratio0.7098
Working capital per thousand Ringgit sale-16.3%
Days to sell the inventory8
Days to collect the receivables28
Days to pay the payables270

Technical Analysis
SMA 203.998 (Uptrend 40 days)
SMA 503.832 (Uptrend)
SMA 1002.391 (Uptrend)
SMA 200-0.057 (Uptrend)
MACD (26d/12d)0.06541 ( 0.006023 )
Signal (9)0.089683 ( 0.006068 )
MACD Histogram0.024273 (Bearish trend 58 days)

My notes based on 2011 quarter 4 report (number in '000):-
- Higher revenue due to revenue grew in mobile broadband/mobile internet

- Higher pat due to tax incentives related to mobile broadband network facilities

- Lower new added customer than FY11Q3 from 327k to 303k (prepaid: 287k to 264k, postpaid: 40k to 39k)

- Prepaid ARPU lower than FY11Q3 from RM43 to RM42

- Postpaid ARPU higher than FY11Q3 from RM85 to RM86

- Estimate next 4Q eps after 2011 Q4 result announced = 1411431*0.88/7775000 = 0.1598, estimate PE on current price 3.99 = 23.97(DPS 0.16)
- Estimate next 4Q eps after 2011 Q3 result announced = 0.42*4*1.05 = 1.764, estimate highest/lowest PE = 19.23/18.66 (DPS 1.48)
- Estimate next 4Q eps after 2011 Q2 result announced = 0.4262*4*1.05 = 1.79, estimate highest/lowest PE = 17.8/15.02 (DPS 1.72)
- Estimate next 4Q eps after 2011 Q1 result announced = 0.4262*4 = 1.7048, estimate highest/lowest PE = 16.6/15.31 (DPS 1.72)
- Estimate next 4Q eps after 2010 Q4 result announced = 1.5151*1.1 = 1.6666, estimate highest/lowest PE = 17.42/14.85 (DPS 1.63)
- Estimate next 4Q eps after 2010 Q3 result announced = 1.4051*1.1 = 1.5456, estimate highest/lowest PE = 15.11/12.46 (DPS 1.74)
- Estimate next 4Q eps after 2010 Q2 result announced = 1.3254*1.1 = 1.4579(10% grow from 1.3254), estimate highest/lowest PE = 15.85/13.04 (DPS 1.99)
- Estimate next 4Q eps after 2010 Q1 result announced = 1.3254(3% grow from 1.2868), estimate highest/lowest PE = 16.27/15.01 (DPS 2.13)
- Estimate next 4Q eps after 2009 Q4 result announced = 0.317*4 = 1.268, estimate highest/lowest PE = 17.21/15.82 (DPS 1.78)
- Estimate next 4Q eps after 2009 Q3 result announced = 0.3139*4 = 1.2556, estimate highest/lowest PE = 16.27/15.47 (DPS 1.77)
- Estimate next 4Q eps after 2009 Q2 result announced = 0.3016*4 = 1.2064, estimate highest/lowest PE = 17.12/16.21 (DPS 1.75)
- Estimate next 4Q eps after 2009 Q1 result announced = 0.3543*4 = 1.4172, estimate highest/lowest PE = 15.51/14.1 (DPS 1.62)

DIGI latest news (English)

DIGI 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
2012-01-1920114N/AN/A0.06527.93%88.87%15454235963954389320156026239422512543840.05070.161348633463451915-1411431236738657393815458628505841793448247586109817077750007775000301670002011-12-3125.19%-1.226324.04930.180.0943.110.140.62580.59960.42352.44570.7098-16.3%828270
2011-10-242011335.43.440.3722.41%65.92%1519970441853139850611709422924458601590.37611.106347213473416466-1304881167114727639812581878505841394749136562987146777500777500245534502011-09-3026.22%26.61%1.2387-1.680.7144.481.270.55780.54280.37962.61820.7236-19.7%426244
2011-07-202011233.5828.60.318.97%45.57%146799828985613252837724362363185677140.30390.730249307463685060-12456869774761374466749378505848400301650931015677777500777500232006002011-06-3022.16%27.35%1.1519-1.60.6148.921.310.50120.48670.34062.95830.7474-26.2%528235
2011-04-292011130.0227.820.4324.66%24.66%143056314305634471534471533313963313960.42620.426251390273795334-1343693561245741563374698505844870891496201000204777500777500226097002011-03-3131.26%25.89%1.0793-1.730.6942.141.290.59410.57660.4092.82460.7385-17.9%527252
2011-01-282010430.6624.920.4324.66%87.48%14296625406457450309159724833202611780040.42701.515151366333790011-1346622230877661084012775374301851697936420399850584777500777500196707502010-12-3131.50%26.27%1.052516.69841.730.6439.531.090.58580.56690.37442.81450.7378-17.4%530262
2010-10-262010325.923.880.520.62%60.28%1351341397679539044411469392893148459780.37211.088150048813601535-140334617110623883978641004301851322665458565888750777500777500191731502010-09-3028.89%25.90%1.0439-1.80.6935.741.140.59770.58550.40392.56640.7196-16.9%328240
2010-07-202010225.121.00.3520.08%40.16%133509626254543779937564952784085566640.35810.716048778243491667-13861571051754209563591975430185842191250216680401777500777500183956502010-06-3028.31%26.35%1.048-1.780.6436.970.890.56970.54060.33212.5190.7158-17.5%831230
2010-05-042010123.722.020.3520.17%20.17%129035812903583785023785022782562782560.35790.357948923243512450-137987455336681194219850430185472172252322682507777500777500176337002010-03-3129.33%26.48%1.0182-1.770.5938.440.890.54380.52770.33052.54550.718-19.2%430231
2010-02-032009423.621.840.5416.20%65.76%12476124909565336875136645524648010004710.31701.286847324443210976-1521468165518070358685268633127795159498908430185777500777500171827502009-12-3127.00%26.83%1.037417.17471.960.7330.270.570.43150.4250.21752.11040.6785-23.5%231222
2009-10-282009322.4621.180.7513.14%40.58%1238766366195333318110295802440857539910.31390.969848599583001845-18581131085371479693319261331277605678286417617694777500777500167162502009-09-3026.90%26.74%1.0069-2.391.1319.030.810.57210.56380.34471.61550.6177-15.9%230207
2009-07-222009222.520.90.4911.75%25.56%120483224231873239406963992344675099060.30160.655847081132713110-199500358049727540023828633127730509766811398088777500777500172605002009-06-3026.89%27.62%1.036-2.571.2717.480.530.49460.4840.22251.360.5763-19.0%336208
2009-04-302009123.821.3-12.68%12.68%121835512183553724593724592754392754390.35430.354349776522805041-217261113096514226927378933127711304262485593762777500777500173382502009-03-3130.57%26.05%0.9776-2.791.5114.770.780.61220.59980.32991.29110.5635-14.6%337207
2009-02-062008423.220.80.5314.88%60.13%12316854814475381817154689628224111407150.36301.485446558522758680-1897172203058487373714027145771441156847245867331277777500767958163275002008-12-3131.00%26.08%1.034114.13772.471.1817.80.440.34380.33630.15071.45410.5925-30.9%232241
2008-10-242008322.118.20.7812.15%38.65%1222620358279036546311650792699428584740.34721.104145264172305066-2221351141186348243099424257714492943364809512335777500777500172605002008-09-3029.89%26.14%1.0515-2.861.6613.370.660.48750.48050.28221.03770.5092-19.5%228218
2008-07-222008225.521.70.5712.46%24.58%119371623601704039707996162983925885320.38920.776146672932272705-2394588971174292466551067577144678708127641704785766621758310180922552008-06-3033.84%26.14%0.9964-3.161.9612.040.920.59280.58970.39350.94910.4869-15.7%128210
2008-04-292008127.023.0-15.53%15.53%116645411664543956463956462901402901400.38690.386941502912282506-1867785426213119673N/A577144306540306540883684750000750000181500002008-03-3133.92%26.67%1.0877-2.492.211.01.180.73480.73140.51831.2220.55-10.0%129208
2008-02-052007425.2521.00.592518.57%67.35%11766704362635386598144531429299610625950.39071.416838774912299846-157764515895756446291237351869549944946292405577144750000750000187500002007-12-3132.86%24.21%1.125117.64552.11.7714.120.770.54310.53810.33441.45780.5931-18.1%129227
2007-10-192007327.522.31.014.92%42.02%1113425318596537516910590162732797698990.36441.026540336032201454-1832149108328033230368985186954975097761126930675750000750000161250002007-09-3033.70%27.16%1.0295-2.442.1510.01.240.75170.74580.57881.20160.5458-9.6%224226
2007-07-2020072N/AN/A0.68512.94%25.66%105766820725403445186835472503184963200.33380.661841021852168277-19339086377031834573148138695494542461394331008982750000750000172500002007-06-3032.57%27.34%0.9654-2.582.2710.131.350.80290.79820.63341.12120.5286-7.9%124221
2007-05-0320071N/AN/A-12.31%12.31%101487210148723390293390292460022460020.32800.328041069102108507-199840316231393964N/A8695496834968349937898750000750000140250002007-03-3133.41%27.44%0.9268-2.662.347.991.250.85120.84760.65471.05510.5134-5.6%126222
2007-02-1420064N/AN/A0.57513.67%45.97%966769365253629395510871392395558056530.31941.074241230312370630-1752401169902271103513014001182962987987313413869549750000750000114000002006-12-3130.41%18.51%0.885914.152.342.07.61.160.69750.69260.51591.35280.575-14.0%230285
2006-10-2020063N/AN/A-9.21%28.84%92077226857672553047931841808275660980.24110.754842254472262601-19628461235670428463851400118296280720744193113876975000075000093750002006-09-3027.73%29.17%0.6356-2.622.495.021.520.88090.87560.72411.15270.5355-7.0%232341
2006-07-1220062N/AN/A0.5359.69%18.60%90369017649952806105378802006043852710.26750.513741213292050410-2070919707627224142562500118296248348579015110394775000075000081750002006-06-3031.05%28.51%N/A-2.762.624.161.470.9580.95040.79840.99010.4975N/A-N/AN/A
2006-05-0320061N/AN/A-7.59%7.59%8613058613052572702572701846671846670.24620.246244533912020576-2432815346494116546N/A1182962229948229948141291075000075000063375002006-03-3129.87%28.22%N/A-3.243.12.731.881.22051.21271.05210.83060.4537N/A-N/AN/A

Financial Quarter Balance Sheet
yearqrtDeferred expenditures (A-0)Intangible assets (A-0)Prepaid lease payments (A-0)Property, plant and equipment (A-0)Available-for-sale financial assets (A-1)Cash and cash equivalents (A-1)Derivative financial assets (A-1)Inventories (A-1)Trade receivables (A-1)Deferred tax liabilities (L-0)Finance lease liabilities (L-0)Loans & borrowings (L-0)Other long-term provisions (L-0)Current tax liabilities (L-1)Deferred income (L-1)Derivative financial liabilities (L-1)Loans & borrowings (L-1)Provision for liabilities (L-1)Trade and other payables (L-1)
20114-731881-2508633-1098170-67797456865262341-578031182861832541097717149978460361967924
20113-755790-2514841-987146-39010424560241448-55687517432248131422112-169804456931714971
20112-770607-2665467-1015677-43222435773307223-3782921727722143635734967699678418611661877
20111-809492-2876687-1000204-42877409767399713-93308617158113489339275293149669410221801629
20104-845957-2959894-850584-4309943709942449153894102296917068464623431871345-422171838378
20103-870548-2819005-888750-26860399718361604-1022726165821999853061361233-539571639312
20102-888918-28033691062868040117160579433758371783-102248416429178948272766--719831557274
20101-920960-283094610570682507-33872413469376889-1022244162391374582669021932100000706411520145
20094-950174-290817410514430185-13061420336391463-77201021717102966272986140149829710571428808
20093-98091212109282451010456617694-15073399204387011-7717792091186733254094-100000645011316816
20092-101036012165277755310394398088-19374480179384940-47172620407896712342161353100000665341344263
20091-99880512221284567910299593762-22738494148382147-5715082038498626259989751100000863171285319
20084-99401912277287011510304331277-17053420807371526-10000020031103712265923-2978211060271493640
20083-931389123322697791-512335-12590359980370314-10000019465136407311004-100000476381220238
20082-910566123892682534-704785-5483351536362441-10000019103218639243186-100000649621164374
20081-215657124442669338-883684-5754363414358771-20000018683177768236508-100000835851107191
20074-251010125002676555-577144-8659351623355521-20000018270116218227001-1000001027311180105
20073-216405125542595906-930675-9504268559379056-20000014385124558267628-100000419301073897
20072-228048126092582620-1008982-7522262404361309-20000014073177438256277-100000573181001862
20071-239749126622635255-937898-5089276257362282-30000013767142250245307--65620979281
20064-254487127172680246-869549-8189297843371707-3000001339869809244769--756191295328
2006348397421127722729451-1138769-8395238156379523-30000010450160310273344--384241100550
20062498103985128282679326-1103947-10493210252357529-30000010097159642256880--39813926449
20061513110138128842690760-1412910-10438215748367609-300000998872637220643--70465979234

Financial Quarter Income Statement
yearqrtRevenueIncome tax expenseFinance/interest costsOther incomeAdministrative/Operating expensesFinance/interest incomeDepreciation & amortisation
20114154542349051040659328237979428337260
201131519970106061966240498157405969306080
201121467998889653059415447945957785323767
20111143056311575715463128657862125862200462
20104142966211828315701231807994505925193307
2010313513411011301286515807590806160196692
201021335096995851294159517626335217192697
2010112903581002461015818757164123506190667
20094124761290395112556057169873679186779
20093123876689096101298787112653227188296
20092120483289473936316876850362736190916
20091121835597020984362966811863967165130
20084123168599576306430526984485016156424
20083122262095521237268727077804691158568
200821193716105578300317206382017338157600
200811166454105506392248596154267075163394
20074117667093602408269225988637452201501
200731113425101890387119105891159311156491
20072105766894200387613795572008978162431
20071101487293027339723985200846040160800
2006496676954400446184914994727115184487
200639207727447738744485019249955170073
20062903690800063763228949638110012135237
2006186130572603374722514735289003138014

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


CHANGES IN SHAREHOLDING
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1-Years Historical Chart from shareinvestor.com

5-Years Historical Chart from shareinvestor.com

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