Sponsor by Innity

Sponsor by cwyeoh

Sponsor by Nuffnang

Thursday, June 21, 2012

KLCI Stock - MYEG / 0138 - 2012 Quarter 3

MY E.G. SERVICES BERHAD


Company Description
MY E.G. SERVICES BERHAD is principally engaged in the business of development and implementation of the Electronic Government Services project and the provision of other related services for the Electronic Government Initiative. MYEG operates in two business divisions: Government to Citizen (G2C) and Government Enterprise Solution (GES). G2C services refers to services such as driving theory test bookings, issuance and renewal of licenses, electronic bill payment and payment (EBPP), as well as online information services, such as traffic summons checking and electronic bankruptcy or liquidation status searches (e-Insolvency). GES are non-Internet based services, such as software and enterprise solutions, system development and maintenance, as well as services rendered at the E-Services Centers. In October 2007, it acquired Fidelity Radiance Sdn Bhd.

Company Info 
Listing Date2007-01-16
Market Capital (Capital Size)354,620,090 (Small)
Par ValueRM 0.10
BoardACE
SectorTrading/Services
Major IndustryE-Government Services
Sub IndustrySoftware Products & Related Services
Websitehttp://www.myeg.com.my

My Analysis 
Forecast P/E now(0.59-0.011)/0.0552 = 10.49 (Moderate)
Target Price0.72+0.011 = 0.73 (PE 13.0, EPS 0.0552, DPS 0.011)
DecisionBUY if stock price can strong sustain and uptrend follow Bolinger upper band or wait MACD re-uptrend after correction(remain bullish)
Comment
Revenue increased 8.4% and was second consecutive quarter increasing but still lower than preceding year corresponding quarter 7.3%, eps increased 7.1% and was second consecutive quarter increasing and also higher than preceding year corresponding quarter 14.3%, cash generated from operating more than enough to cover all expenses, operating margin maintained very high, stronger liquidity ratio at moderate level now, lower gearing ratio at below moderate level now, lower debt ratio and still quite low, receivables and payables period getting longer
First Support Price0.58
Second Support Price0.57
Risk RatingMODERATE

Accounting Ratio 
Return on Equity28.67%
Dividend Yield1.86%
Gross Profit Margin0.00%
Operating Profit Margin40.45%
Net Profit Margin39.44%
Tax Rate0.43%
Asset Turnover0.4855
Net Asset Value Per Share0.19
Net Tangible Asset per share0.17
Price/Net Tangible Asset Per Share3.41
Cash Per Share0.03
Liquidity Current Ratio2.8873
Liquidity Quick Ratio2.8873
Liquidity Cash Ratio0.8717
Gearing Debt to Equity Ratio0.2135
Gearing Debt to Asset Ratio0.1759
Working capital per thousand Ringgit sale48.8%
Days to sell the inventory-
Days to collect the receivables190
Days to pay the payables128

Technical Analysis 
SMA 200.583 (Downtrend 70 days)
SMA 500.606 (Downtrend)
SMA 1000.631 (Downtrend)
SMA 2000.625 (Same)
MACD (26d/12d)-0.004946 ( 0.000948 )
Signal (9)-0.007629 ( 0.000671 )
MACD Histogram0.002683 (Bullish trend 17 days)
Bolinger Upper Band0.606
Bolinger Lower Band0.56

My notes based on 2012 quarter 3 report (number in '000):-
- Higher pbt is driven primarily by:
i) The introduction of cloud computing based services which contributed positively to the group
ii) Higher volumes from our JPJ-related services as brand awareness continue to grow as a result of the ongoing advertising and promotion campaigns; and
iii) Higher volume from our Insolvency search services as users are finding it more convenient to conduct the bankruptcy search online

- Higher revenue and pbt than FY12Q2 primarily attributable to:
i) higher volume from JPJ related services for theory test taking
ii) an increase in the online renewal of insurance and road tax transactions as historically there are more vehicles registered during the beginning of the calendar year

- Estimate next 4Q eps after 2012 Q3 result announced = 114301*0.29/600059 = 0.0552, estimate PE on current price 0.59 = 10.49(DPS 0.011)
- Estimate next 4Q eps after 2012 Q2 result announced = 108028*0.29/600375 = 0.0522, estimate highest/lowest PE = 13.2/10.9 (DPS 0.011)
- Estimate next 4Q eps after 2012 Q1 result announced = 0.0424*1.1 = 0.0466, estimate highest/lowest PE = 15/12.75 (DPS 0.011)
- Estimate next 4Q eps after 2011 Q4 result announced = (0.0105+0.0132)*2 = 0.0474, estimate highest/lowest PE = 13.69/11.9 (DPS 0.011)
- Estimate next 4Q eps after 2011 Q3 result announced = 0.0105*4*1.1 = 0.0462, estimate highest/lowest PE = 16.75/12.64 (DPS 0.011)
- Estimate next 4Q eps after 2011 Q2 result announced = 0.0097*4*1.1 = 0.042, estimate highest/lowest PE = 19.62/16.29 (DPS 0.006)
- Estimate next 4Q eps after 2011 Q1 result announced = 0.032*1.1 = 0.0352, estimate highest/lowest PE = 26.7/20.45 (DPS 0.005)
- Estimate next 4Q eps after 2010 Q4 result announced = 0.0097*4*1.1 = 0.0427, estimate highest/lowest PE = 19.32/16.16 (DPS 0.005)
- Estimate next 4Q eps after 2010 Q3 result announced = 0.0088*4 = 0.0352, estimate highest/lowest PE = 24.57/14.91 (DPS 0.01)
- Estimate next 4Q eps after 2010 Q2 result announced = 0.0079*4 = 0.0316, estimate highest/lowest PE = 20.57/12.66 (DPS 0.01)
- Estimate next 4Q eps after 2010 Q1 result announced = 0.0074*4 = 0.0296, estimate highest/lowest PE = 18.44/13.88 (DPS 0.0092)
- Estimate next 4Q eps after 2009 Q4 result announced = 0.0069*4 = 0.0276, estimate highest/lowest PE = 19.63/14.37 (DPS 0.01835)

MYEG latest news (English)

MYEG latest news (Chinese)



Financial Quarter Summary
a_dateyearqrth_pricel_pricedivroec_roerevc_revpbtc_pbtprofc_profepsc_epsassetliabminoequicfocficffcashfcfnetfinalsharec_sharem_capdategros_moper_mprof_mvatasset_tpenavpsntapsp/ntapscpsl_curl_quil_cashg_deg_daavg_winv_drec_dpay_d
2012-05-2420123N/AN/A-7.20%19.29%18340494517233193637202192790.01200.032113870524404-114301269112458145925334244539861151955994226000593476642012-03-31-40.45%39.44%0.43%0.4855-0.190.173.410.032.88732.88730.87170.21350.175948.8%-190128
2012-02-29201220.70.580.00506.70%12.08%16918311116725121296700120750.01120.020113447926451-108028157515390132953341036111690170246001326003754080892011-12-31-40.94%39.75%0.37%0.5116-0.180.164.250.032.45762.45760.90920.24490.196739.7%-15398
2011-11-30201210.710.605-5.38%5.38%141921419254055405537653760.00900.009012842323311-105112466325261688533471895501108356006176006173663762011-09-30-39.71%38.08%0.54%0.5361-0.180.163.810.022.50412.50410.730.22180.181532.4%-13991
2011-08-26201140.660.5750.00609.38%27.02%17898588337962229607918228140.01320.038012207622110-99966343223765016388253328349153346006796006793664142011-06-30-47.55%44.49%0.55%0.546116.06090.170.154.070.012.03532.03530.36440.22120.181122.7%-13467
2011-05-26201130.7850.5950.00507.44%17.64%19792522286313149986283148960.01050.024810793812204-9573418496359473628825149027540163656006796006794505092011-03-31-32.48%31.90%0.48%0.6102-0.160.145.360.035.35995.35991.84940.12750.113158.6%-17252
2011-02-25201120.830.69-6.88%10.20%169693243658438684581086120.00970.014310426311208-93055957729931373882565847957167826006796006794565162010-12-31-35.21%34.43%0.56%0.6007-0.150.135.850.035.89435.89432.32570.12040.107556.4%-15040
2010-11-26201110.9450.725-3.32%3.32%120051200528402840280128010.00470.00479950012256-8724450353160624882518752499113246006796006794445022010-09-30-24.83%23.66%1.37%0.6081-0.150.135.690.024.8154.8151.48380.14050.123248.1%-15343
2010-08-30201040.830.6950.00608.38%30.00%17098620945855210095825208520.00970.03479560511162-84443221609255186401456012905573588256010516010514327562010-06-30-35.05%34.24%0.51%0.649520.75370.140.126.00.014.79954.79951.26510.13220.116842.7%-14538
2010-05-27201030.8750.535-8.37%21.64%16558449965857151525818150460.00970.02509322411522-8170217850823964151456096113196177566010516010513456042010-03-31-36.50%35.37%0.67%0.6304-0.140.124.790.035.13845.13842.65090.1410.123647.2%-10337
2010-02-25201020.660.410.00506.83%13.28%148402843747779295474892280.00790.01548651210525267598798316475344714560335691144696010516010512584512009-12-31-33.17%32.19%0.84%0.6407-0.130.113.910.025.665.662.91130.13860.121741.8%-9021
2009-11-25201010.5550.42-6.43%6.43%135981359845074507447044700.00740.0074821468163-739832755138927141456013661348132126010516010512674672009-09-30-34.01%33.14%1.04%0.6554-0.120.14.450.026.61456.61453.16760.11030.099443.5%-9724
2009-08-27200940.560.4150.004558.34%34.79%13769524804149173154123171980.00690.02898068711174466951320110209114092112698013291145606010515942442644622009-06-30-30.73%30.13%0.84%0.650415.20340.120.14.40.023.70913.70912.05040.16090.138536.7%-8228
2009-05-28200930.4650.4050.00468.52%26.45%13221387114244131674212130750.00700.02217996790975670870148581637982831126915216762180316010515917562554462009-03-31-33.09%32.10%0.99%0.6352-0.120.14.250.036.63486.63483.98120.12850.113850.2%-8631
2009-02-26200920.5050.360.00469.51%17.93%132472549047248922470288630.00790.0151781568753666940391488605113991126954311942232115940745872102227772008-12-31-36.73%35.66%0.55%0.6358-0.120.13.750.049.29339.29336.17150.12620.11262.8%-8623
2008-11-26200911.060.3550.00468.42%8.42%122431224341984198416141610.01650.01656297793867053591394740456151126998517117862525002525001994752008-09-30-35.47%34.29%1.12%0.747-0.210.164.940.055.86815.86812.96650.17540.14941.1%-8927
2008-08-28200840.920.760.0211.26%40.47%12084438214119148254112147780.01630.05855801785778049440132102098433621568177744412112692525002525002259872008-06-30-35.14%34.09%0.32%0.755315.29220.20.155.970.046.16426.16423.22990.17380.147841.1%-8526
2008-05-23200830.9950.86-11.41%29.07%12115317374199107064167106140.01910.0565538738539864533461981388736501568176894039116422186951877682165082008-03-31-35.63%34.66%1.00%0.7265-0.240.185.50.056.56176.56173.08720.18870.158553.6%-12237
2008-02-22200821.110.47-10.20%17.74%105991962237406508372664790.02010.0416515121036289411505477119175681156816440759149221852581557542037832007-12-31-36.52%35.29%0.35%0.6612-0.260.195.790.084.46964.46962.81070.25240.201254.1%-9438
2007-11-29200811.160.99-7.54%7.54%9023902327662766275227520.02180.0218479968728883926831311089660151568177651750139311262501262501256182007-09-30-31.65%30.65%0.47%0.6182-0.310.224.520.115.59565.59563.76820.22280.181857.3%-8340
2007-08-24200742.20.980.00693N/AN/A74042548123097117229770600.02030.0625385942079-3651577246427121072277129713404156811129061129061975852007-06-30-31.21%31.19%0.43%0.535127.98660.320.35.830.1412.533312.53339.01210.05690.053997.2%-10840
2007-05-2520073N/AN/A-N/AN/A70351807722664808225747620.02090.044238593207887365159483578127162277263010086123631078151078151919102007-03-31-32.38%32.21%0.35%0.3432-0.340.315.740.1512.540512.54059.01730.0570.0538151.5%-16962
2007-01-1120072N/AN/A-N/AN/A62111104219032542188825050.01870.0249361241908863421617652220335227745512021571007501007501108252006-12-31-30.83%30.64%0.37%N/A-0.340.313.550.1214.997314.99738.28620.05590.0528N/A-N/AN/A

Financial Quarter Balance Sheet
yearqrtDevelopment Expenditure (A-0)Equipment (A-0)Goodwill on consolidation (A-0)Investment in associated companies (A-0)Amount due from associated companies (A-1)Cash and cash equivalents (A-1)Current tax assets (A-1)Other receivables, deposits and prepayments (A-1)Trade receivables (A-1)Deferred tax liabilities (L-0)Hire purchase liabilities (L-0)Term loans (L-0)Deferred income (L-1)Dividend payable (L-1)Loans & borrowings (L-1)Payables and accruals (L-1)Provision for taxation (L-1)Trade and other payables (L-1)Minority interest (M-1)
201231113564987120162381203915195971220710791699242438506360-37681781-5522-
20122110066544112016-666517024831199610248699271443144880360040452307-3892-
20121108746836712016-22721083566146419352699300047703860-4317218714477-
20114105026976912016-58725334521042181106991553522238603003377289513105-
20113104543803812016-104031636544110069612-167516802460-257090622911-
20112103773933712016-60201678229100459657-207219201440-270485942209-
20111102294050712016-8411113242384998491-246421601440-2862152371800-
20104101133999512016-7522882517103256792-178624001440-2723138471422-
20103100113678012016-282917756-87015131-21842640--2786130752600-
2010289873737312022-60214469983264724526702880--275271853144726
2010188823365312022--1321299962440658673120--17481167391217-
2009487323359512022--1456099374239567073360-27351702123652137646
2009381002979612022--1803199743226669623600--1660155969124156
2009270412414112022--23211992712461611463840--168481063120466
2009169842065712022--117869100801439613274080--1705101353120270
2008470091747912022--1126998814141577614320--146390013111380
2008367291037812022--11642-10890221272014560--113115079112486
200825940982112022--14922-6180262782454800-17501128122363114589
200815527976012022--13931-4965179182884735--1430109249112688
20074552786582601--15681-475113768331---16170136842-
20073552786582600--15681-475113768331---1617013684187
20072533858102600--12363-869013236410---1256202472386

Financial Quarter Income Statement
yearqrtRevenueIncome tax expenseFinance/interest costsOther incomeAdministrative/Operating expensesMinority interestFinance/interest incomeShare of profit/ (loss) of associatesDepreciation & amortisationAfter tax effect
201231834031188-8779-14122142-
201221691825209-7882-8-2110-
20121141922923146455---2105-
20114178984418947365--3602026-
2011319792301162611567---1822-
201121696933131359347---1683-
201111200539141487430---1642-
201041709830138309659--01476-
2010316558391473392660-401281-
20102148404014634868811--1263-
20101135984710856784810--118110
200941376935824784339--1152-
20093132214213166785310--1059-
20092132472614111274744--1020-
20091122434714547705510--892-
2008412084131275271256--765-
200831211542117149732310--625-
2008210599131315562391--544-
20081902313905456951--526-
2007474041022546852--433-
2007370358122844261--359-
200726211712-39678--329-

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


CURRENT


CHANGES IN SHAREHOLDING
ANNUAL REPORTS


HISTORICAL


CHANGES IN SHAREHOLDING


ARCHIVES


CHANGES IN SHAREHOLDING




Image

No comments:

Post a Comment