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Friday, February 24, 2012

KLCI Stock - PWROOT / 7237 - 2012 Quarter 3

Company Info
Market Capital (Capital Size)154,500,000 (Small)
Par ValueRM 0.20

My Analysis
Forecast P/E now(0.515-0.04)/0.0496 = 9.58 (Moderate)
Target Price0.50+0.04 = 0.54 (PE 10.0, EPS 0.0496, DPS 0.04)
DecisionBUY for dividend
Comment
Revenue increased 5.9% and was fourth consecutive quarter increasing(higher than preceding year corresponding quarter 43.6%), eps increased 81.2% and also higher than preceding year corresponding quarter 305.3%, cash generated from operating more than enough to cover all expenses, lower liquidity ratio but still at high level now, higher gearing ratio at below moderate level now, higher inventory can indicate stronger demand of Group products
First Support Price0.505
Second Support Price0.48
Risk RatingMODERATE

Research House
JF Apex Target Price0.61 (2011-01-26)

Accounting Ratio
Return on Equity7.82%
Dividend Yield7.77%
Profit Margin10.88%
Tax Rate23.71%
Asset Turnover0.8514
Net Asset Value Per Share0.62
Net Tangible Asset per share0.6
Price/Net Tangible Asset Per Share0.82
Cash Per Share0.12
Liquidity Current Ratio3.1895
Liquidity Quick Ratio2.5135
Liquidity Cash Ratio0.7481
Gearing Debt to Equity Ratio0.2799
Gearing Debt to Asset Ratio0.2187
Working capital per thousand Ringgit sale51.5%
Days to sell the inventory125
Days to collect the receivables143
Days to pay the payables157

Technical Analysis
SMA 200.517 (Uptrend 22 days)
SMA 500.501 (Uptrend)
SMA 1000.498 (Uptrend)
SMA 2000.509 (Same)
MACD (26d/12d)0.004463 ( 0.00047 )
Signal (9)0.005725 ( 0.000315 )
MACD Histogram0.001262 (Bearish trend 6 days)

My notes based on 2012 quarter 3 report (number in '000):-
- Higher revenue and pbt mainly attributable to the increase in local and export sales from the Group's Fast Moving Consumer Goods business

- Estimate next 4Q eps after 2012 Q3 result announced = 185972*0.08/300000 = 0.0496(ROE 8%), estimate PE on current price 0.515 = 9.58(DPS 0.04)
- Estimate next 4Q eps after 2012 Q2 result announced = 0.0085*4 = 0.034, estimate highest/lowest PE = 15/12.79 (DPS 0.04)
- Estimate next 4Q eps after 2012 Q1 result announced = 0.0407*1.05 = 0.0427, estimate highest/lowest PE = 12.76/10.19 (DPS 0.04)
- Estimate next 4Q eps after 2011 Q4 result announced = 0.0407*1.05 = 0.0427, estimate highest/lowest PE = 13.47/11.83 (DPS 0.02)
- Estimate next 4Q eps after 2011 Q3 result announced = (0.0323+0.0038)*1.1 = 0.0397, estimate highest/lowest PE = 14.74/11.08 (DPS 0.08)
- Estimate next 4Q eps after 2011 Q2 result announced = 0.0285*2*0.95 = 0.0542, estimate highest/lowest PE = 13.56/8.67 (DPS 0.08)
- Estimate next 4Q eps after 2011 Q1 result announced = 0.0338*1.1 = 0.0372(10% increase from 0.0338), estimate highest/lowest PE = 18.55/13.98 (DPS 0.04)
- Estimate next 4Q eps after 2010 Q4 result announced = 0.0338(follow 2010 cumulative eps), estimate highest/lowest PE = 16.57/13.46 (DPS 0.04)
- Estimate next 4Q eps after 2010 Q3 result announced = 0.04, estimate highest/lowest PE = 14.25/11.13 (DPS 0.04)
- Estimate next 4Q eps after 2010 Q2 result announced = 0.0395, estimate highest/lowest PE = 14.68/12.03 (DPS 0.04)
- Estimate next 4Q eps after 2010 Q1 result announced = 0.034, estimate highest/lowest PE = 17.94/12.35 (DPS 0.03)

PWROOT latest news (English)

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