Company Info
| Market Capital (Capital Size) | 7,958,065,271 (Very Large) |
| Par Value | RM 1.00 |
My Analysis
| Forecast P/E now | (5.76-0.11)/0.3404 = 16.60 (Moderate) |
| Target Price | 6.13+0.11 = 6.24 (PE 18.0, EPS 0.3404, DPS 0.11) |
| Decision | BUY if stock price below lower Bolinger band and selling volume is low or wait MACD start moving uptrend |
| Comment | Revenue increased 6.8% and also higher than preceding year corresponding quarter 30.1%, eps increased 80.8% and also higher than preceding year corresponding quarter 4.5%, cash generated from operating enough to cover financing expenses and cash generated from financing plus operating also more than enough to cover investing expenses, maintaining high gross and operating profit margin, slightly weaker liquidity ratio at moderate level now, higher gearing ratio at high level now, higher debti ratio at near to historical high, benefit from CPO price increasing, higher inventory and property development cost can indicate better prospect |
| First Support Price | 5.75 |
| Second Support Price | 5.4 |
| Risk Rating | MODERATE |
Research House
| TA Target Price | 6.35 (2011-01-03) |
| MIDF Target Price | 6.48 (2011-02-24) |
| Credit Suisse Target Price | 8 (2011-03-29) |
| OSK Target Price | 6.96 (2011-05-30) |
| CIMB Target Price | 7.81 (2011-07-05) |
| UOB Target Price | 6.3 (2011-08-15) |
| AMMB Target Price | 7.71 (2011-09-12) |
| HwangDBS Target Price | 8.7 (2011-09-14) |
| ECM Target Price | 7.02 (2011-11-29) |
| HLG Target Price | 5.76 (2011-11-29) |
| Maybank Target Price | 6.2 (2011-11-29) |
| RHB Target Price | 4.48 (2012-01-18) |
Accounting Ratio
| Return on Equity | 4.45% |
| Dividend Yield | 1.91% |
| Gross Profit Margin | 26.64% |
| Operating Profit Margin | 21.97% |
| Net Profit Margin | 21.13% |
| Tax Rate | 27.85% |
| Asset Turnover | 0.3153 |
| Net Asset Value Per Share | 3.75 |
| Net Tangible Asset per share | 3.7 |
| Price/Net Tangible Asset Per Share | 1.6 |
| Cash Per Share | 1.73 |
| Liquidity Current Ratio | 2.4603 |
| Liquidity Quick Ratio | 1.6331 |
| Liquidity Cash Ratio | 0.8881 |
| Gearing Debt to Equity Ratio | 1.3267 |
| Gearing Debt to Asset Ratio | 0.5049 |
| Working capital per thousand Ringgit sale | 92.0% |
| Days to sell the inventory | 254 |
| Days to collect the receivables | 162 |
| Days to pay the payables | 198 |
Technical Analysis
| SMA 20 | 5.863 (Downtrend 6 days) |
| SMA 50 | 5.785 (Uptrend) |
| SMA 100 | 5.692 (Uptrend) |
| SMA 200 | 5.754 (Downtrend) |
| MACD (26d/12d) | -0.005367 ( 0.006864 ) |
| Signal (9) | 0.012982 ( 0.004587 ) |
| MACD Histogram | 0.018349 (Bearish trend 24 days) |
My notes based on 2012 quarter 3 report (number in '000):-
- Higher revenue and pbt due to all operating divisions except Property achieving profit growth. Property and Infrastructure divisions were affected by the non-recurrence of a RM63 million capital gain in the previous year and unrealised foreign exchange losses respectively
- Estimate next 4Q eps after 2012 Q3 result announced = 6833846*0.07/1405110 = 0.3404, estimate PE on current price 5.76 = 16.6(DPS 0.11)
- Estimate next 4Q eps after 2012 Q2 result announced = 0.0825*4 = 0.33, estimate highest/lowest PE = 18.33/15.64 (DPS 0.11)
- Estimate next 4Q eps after 2012 Q1 result announced = 0.0825*4*0.95 = 0.3135, estimate highest/lowest PE = 19.3/11.96 (DPS 0.15)
- Estimate next 4Q eps after 2011 Q4 result announced = 0.1819*2*1.1 = 0.4002, estimate highest/lowest PE = 16.07/13.17 (DPS 0.15)
- Estimate next 4Q eps after 2011 Q3 result announced = 0.0765*4*1.1 = 0.3366, estimate highest/lowest PE = 19.93/16.87 (DPS 0.15)
- Estimate next 4Q eps after 2011 Q2 result announced = 0.0765*4*1.1 = 0.3366, estimate highest/lowest PE = 19.93/15.92 (DPS 0.11)
- Estimate next 4Q eps after 2011 Q1 result announced = 0.0662*4*1.05 = 0.278, estimate highest/lowest PE = 20.36/17.3 (DPS 0.11)
- Estimate next 4Q eps after 2010 Q4 result announced = 0.2484*0.9 = 0.2236 (10% drop, exclude foreign exchange gained), estimate highest/lowest PE = 22.58/19.5 (DPS 0.11)
- Estimate next 4Q eps after 2010 Q3 result announced = 0.0621*4 = 0.2484 (expecting revenue and profit recover hence no decrease on eps), estimate highest/lowest PE = 20.53/17.43 (DPS 0.05)
- Estimate next 4Q eps after 2010 Q2 result announced = 0.2556, estimate highest/lowest PE = 19.13/16.55 (DPS 0.05)
- Estimate next 4Q eps after 2010 Q1 result announced = 0.271, estimate highest/lowest PE = 25.13/15.68 (DPS 0.05)
- Estimate next 4Q eps after 2009 Q4 result announced = 0.3251, estimate highest/lowest PE = 19.53/16.15 (DPS 0.05)
- Estimate next 4Q eps after 2009 Q3 result announced = 0.2612, estimate highest/lowest PE = 21.06/12.44 (DPS 0.25)
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