This is my analysis to KLSE stock based on each quarter report. Objective of the blog is to provide a platform for easy visualize company previous quarter reports.
BUY if stock price sustain and uptrend above SMA20 or wait rebound at lower price
Comment
Revenue increased 1.8% and is continuous increasing since FY09Q2(higher than preceding year corresponding quarter 13.4%), eps decreased 15.2% but higher than preceding year corresponding quarter 4.9%, not enough cash for operating hence increase borrowings and spent 16.9% of Group cash to cover all expenses, interest margin improve quarter-by-quarter, all division still growth
First Support Price
3.36
Second Support Price
3.23
Risk Rating
MODERATE
Research House
HwangDBS Target Price
4 (2012-06-25)
Jupiter Target Price
3.9 (2012-07-18)
Alliance Target Price
4.42 (2012-08-22)
MIDF Target Price
4.1 (2012-08-22)
TA Target Price
4.3 (2012-08-22)
HLG Target Price
2.96 (2012-08-23)
CIMB Target Price
2.82 (2012-09-03)
RHB Target Price
3.5 (2012-09-03)
Kenanga Target Price
4.3 (2012-09-07)
Accounting Ratio
Return on Equity
10.64%
Dividend Yield
3.53%
Interest Profit Margin
43.8%
Operating Profit Margin
27.85%
Net Profit Margin
26.57%
Tax Rate
27.96%
Asset Turnover
0.0521
Net Asset Value Per Share
3.94
Net Tangible Asset per share
3.27
Price/Net Tangible Asset Per Share
1.09
Cash Per Share
6.69
Liquidity Current Ratio
1.1284
Liquidity Quick Ratio
0.9119
Liquidity Cash Ratio
0.2127
Gearing Debt to Equity Ratio
8.2743
Gearing Debt to Asset Ratio
0.8922
Working capital per thousand Ringgit sale
212.1%
Days to sell the inventory
1822
Days to collect the receivables
4207
Days to pay the payables
8406
Technical Analysis
SMA 10
3.365 (Uptrend)
SMA 20
3.356 (Uptrend 4 days)
SMA 50
3.398 (Downtrend)
SMA 100
3.424 (Uptrend)
SMA 200
3.252 (Uptrend)
MACD (26d/12d)
-0.001788 ( 0.003028 )
Signal (9)
-0.011585 ( 0.002449 )
MACD Histogram
0.009797 (Bullish trend 22 days)
Bolinger Upper Band
3.421
Bolinger Lower Band
3.291
My notes based on 2012 quarter 2 report (number in '000):-
- Higher pbt than FY11Q2 mainly due to higher write-back of allowance for impairment on securities of RM8.4 mil as well as the write-back of allowance for loan impairment of RM6.6 mil as compared to a charge of RM26 mil. The other operating income, share of profit in associate and net interest income were higher and lower losses in jointly-controlled entities however offset by higher overhead expenses and finance cost
- Lower pbt than FY12Q1 mainly due to lower share of profit in associate, lower write-back of loan impairment as well as the allowance for securities impairment offset by higher other operating income and Islamic banking income
- Estimate next 4Q eps after 2012 Q2 result announced = 5892892*0.1/1494576 = 0.3943, estimate PE on current price 3.4 = 8.32(DPS 0.12)
- Estimate next 4Q eps after 2012 Q1 result announced = 5758289*0.1/1494576 = 0.3853, estimate highest/lowest PE = 9.53/7.5 (DPS 0.12)
- Estimate next 4Q eps after 2011 Q4 result announced = 5592224*0.1/1494576 = 0.3742, estimate highest/lowest PE = 8.23/7.3 (DPS 0.12)
- Estimate next 4Q eps after 2011 Q3 result announced = 0.3377*1.05 = 0.3546, estimate highest/lowest PE = 8.94/7.39 (DPS 0.12)
- Estimate next 4Q eps after 2011 Q2 result announced = (0.071+0.0898)*2*1.05 = 0.3377, estimate highest/lowest PE = 9.21/6.4 (DPS 0.09)
- Estimate next 4Q eps after 2011 Q1 result announced = (0.071+0.077)*2 = 0.296, estimate highest/lowest PE = 11.76/9.8 (DPS 0.09)
SEREMBAN ENGINEERING BERHAD engages in the manufacture and fabrication of process equipment. The company's products include unfired pressure vessels, heat exchangers, tanks, silos, and other machinery or parts. It also offers mechanical, maintenance, and shutdown services. In addition, the company, through its subsidiary, engages in the supply of labour; and hiring and servicing of machinery equipment. It serves chemical, edible oil, palm oil, bio-diesel, oleo chemical, and food and waste management industries. Seremban Engineering Sdn Bhd was formerly known as Seremban Engineering Services & Supplies Sdn Bhd. The company was incorporated in 1979 and is based in Seremban, Malaysia. As of March 2, 2007, Seremban Engineering Sdn Bhd is a subsidiary of Success Transformer Corp Bhd.
BUY if stock price sustain and got higher buy volume above 0.43 or wait rebound at lower price
Comment
Revenue increased 26.2% and also higher than preceding year corresponding quarter 43.8%, eps decreased 26.7% but higher than preceding year corresponding quarter 48.4%, not enough cash generated for operating hence increased borrowings and spent 44.8% of Group cash to cover all other expenses, gross margin got average of 15.4% per quarter, lower liquidity ratio indicate higher risk of cannot meet current obligation, gearing ratio increased too fast compare to profit which can impact earning by increase borrowing cost, inventory and receivables turnover period also slightly longer which can cause operation not enough cash, got risk of further cost overrun
First Support Price
0.43
Second Support Price
0.41
Risk Rating
MODERATE
Research House
Kenanga Target Price
0.59 (2012-08-27)
Accounting Ratio
Return on Equity
10.91%
Dividend Yield
4.44%
Gross Profit Margin
13.79%
Operating Profit Margin
9.12%
Net Profit Margin
8.00%
Tax Rate
34.76%
Asset Turnover
0.7863
Net Asset Value Per Share
0.77
Net Tangible Asset per share
0.77
Price/Net Tangible Asset Per Share
0.64
Cash Per Share
0.17
Liquidity Current Ratio
1.4816
Liquidity Quick Ratio
0.9144
Liquidity Cash Ratio
0.2542
Gearing Debt to Equity Ratio
1.0283
Gearing Debt to Asset Ratio
0.503
Working capital per thousand Ringgit sale
26.3%
Days to sell the inventory
133
Days to collect the receivables
132
Days to pay the payables
123
Technical Analysis
SMA 10
0.446 (Same)
SMA 20
0.446 (Uptrend 3 days)
SMA 50
0.457 (Same)
SMA 100
0.458 (Same)
SMA 200
0.452 (Same)
MACD (26d/12d)
-0.001336 ( 0.000474 )
Signal (9)
-0.002566 ( 0.000307 )
MACD Histogram
0.001230 (Bullish trend 4 days)
Bolinger Upper Band
0.458
Bolinger Lower Band
0.434
My notes based on 2012 quarter 2 report (number in '000):
- Higher revenue mainly due to higher sales recorded
- Higher pbt than FY11Q2 mainly due to higher sales achieved and higher profit margin
- Lower pbt than FY12Q1 mainly due to cost overrun of a project completed
- Estimate next 4Q eps after 2012 Q2 result announced = 62088*0.095/79838 = 0.0739, estimate PE on current price 0.45 = 5.82(DPS 0.02)
- Estimate next 4Q eps after 2012 Q1 result announced = 62328*0.09/79890 = 0.0702, estimate highest/lowest PE = 7.12/5.56 (DPS 0.02)
- Estimate next 4Q eps after 2011 Q4 result announced = 60392*0.075/79981 = 0.0566, estimate highest/lowest PE = 9.45/7.6
- Estimate next 4Q eps after 2011 Q3 result announced = (0.0126+0.0169)*2 = 0.059, estimate highest/lowest PE = 9.15/6.69
- Estimate next 4Q eps after 2011 Q2 result announced = 0.0496, estimate highest/lowest PE = 10.28/7.76 (DPS 0.01)
- Estimate next 4Q eps after 2011 Q1 result announced = 0.0496, estimate highest/lowest PE = 10.69/8.87 (DPS 0.01)
- Next quarter Q1 result maybe low, use year 2010 cum_eps to estimate next 4Q eps after 2010 Q4 result announced = 0.0431*1.15 = 0.0496(revenue, profit and receivables also largely increased), estimate highest/lowest PE = 12.9/9.98 (DPS 0.01)
- Revenue QbQ increasing more than 15%, use 10% profit margin, estimate next 4Q eps after 2010 Q3 result announced = (0.0168+0.0193)*2 = 0.0722, estimate highest/lowest PE = 9.63/8.1
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 gros_m = gross profit margin, oper_m = operating profit margin, prof_m = net 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
THONG GUAN INDUSTRIES BERHAD is a Malaysia-based company. The Company is principally engaged in investment holding activities, and also in trading of plastic and paper products. It operates in three business segments: plastic products, which is engaged in the manufacturing and trading of plastic based products; food and beverages, which is engaged in the manufacturing and trading of consumer food products, such as tea, coffee, biscuits, snack food and curry powder, and operations of food and beverage outlet, and others, which is engaged in the manufacturing and trading of products, such as high-density monofilament ropes, polypropylene string, paper serviette, colonge paper towel, rubber band, drinking straw and machinery. The business segments are operated principally in Malaysia and China.
BUY if stock price sustain and uptrend above 1.31 or wait rebound at lower price
Comment
Revenue increased 4.8% and was fifth consecutive quarter increasing (higher than preceding year corresponding quarter 18.8%), eps increased 32.1% but lower than preceding year corresponding quarter 4.5%, cash generated from operating more than enough to cover financing expenses and still got borrowings, maintain around 11% gross margin, quick liquidity ratio indicate liquid assets can meet current obligation, slightly higher gearing ratio also good indication the Group utilize higher leverage to generate more income since is business uptrend now, all accounting of turnover period also short which assets is liquid to turn into cash to cover payables, higher inventory and higher revenue can indicate Group products demand is good, plastics products division (main profit contributor) strong growth
First Support Price
1.31
Second Support Price
1.28
Risk Rating
MODERATE
Research House
Kenanga Target Price
1.57 (2012-10-16)
Accounting Ratio
Return on Equity
11.38%
Dividend Yield
4.48%
Gross Profit Margin
11.68%
Operating Profit Margin
5.06%
Net Profit Margin
5.01%
Tax Rate
3.12%
Asset Turnover
1.5496
Net Asset Value Per Share
2.43
Net Tangible Asset per share
2.43
Price/Net Tangible Asset Per Share
0.54
Cash Per Share
0.62
Liquidity Current Ratio
2.3783
Liquidity Quick Ratio
1.4121
Liquidity Cash Ratio
0.6125
Gearing Debt to Equity Ratio
0.4656
Gearing Debt to Asset Ratio
0.3158
Working capital per thousand Ringgit sale
25.0%
Days to sell the inventory
72
Days to collect the receivables
52
Days to pay the payables
47
Technical Analysis
SMA 10
1.338 (Uptrend)
SMA 20
1.312 (Uptrend 6 days)
SMA 50
1.31 (Same)
SMA 100
1.314 (Same)
SMA 200
1.298 (Uptrend)
MACD (26d/12d)
0.014102 ( 0.000625 )
Signal (9)
0.008028 ( 0.001518 )
MACD Histogram
0.006074 (Bullish trend 13 days)
Bolinger Upper Band
1.382
Bolinger Lower Band
1.242
My notes based on 2012 quarter 2 report (number in '000):-
- Higher revenue mainly due to the increase in export and contribution from two new subsidiary companies
- Lower pbt than FY11Q2 mainly due to lower margin of the stretch film and garbage bag divisions in Malaysia for Plastics Products division and lower demand of tea, coffee and instant beverages products as promotional activities was reduced for Food, Beverages and Other Consumable products segment
- Higher pbt than FY12Q1 mainly due to the higher sales of stretch film products
- Estimate next 4Q eps after 2012 Q2 result announced = 257749*0.115/105205 = 0.2817, estimate PE on current price 1.34 = 4.54(DPS 0.06)
- Estimate next 4Q eps after 2012 Q1 result announced = 246709*0.125/105205 = 0.2931, estimate highest/lowest PE = 4.67/4.16 (DPS 0.06)
- Estimate next 4Q eps after 2011 Q4 result announced = 243075*0.13/105205 = 0.3004, estimate highest/lowest PE = 4.69/4.16 (DPS 0.06)
- Estimate next 4Q eps after 2011 Q3 result announced = 0.2664, estimate highest/lowest PE = 5.07/3.9 (DPS 0.05)
- Estimate next 4Q eps after 2011 Q2 result announced = (0.0603+0.0729)*2 = 0.2664, estimate highest/lowest PE = 4.73/3.3 (DPS 0.05)
- Estimate next 4Q eps after 2011 Q1 result announced = 0.2129*1.05 = 0.2235, estimate highest/lowest PE = 5.86/3.85 (DPS 0.05)
- Estimate next 4Q eps after 2010 Q4 result announced = 0.1935*1.1 = 0.2129, estimate highest/lowest PE = 4.93/4.23 (DPS 0.05)
- Estimate next 4Q eps after 2010 Q3 result announced = 0.045*4 = 0.18(profit margin around 4%), estimate highest/lowest PE = 5.67/4.89 (DPS 0.04)
- Estimate next 4Q eps after 2010 Q2 result announced = 0.04*4 = 0.16, estimate highest/lowest PE = 6.38/5.19(DPS 0.04)
- Estimate next 4Q eps after 2010 Q1 result announced = 0.1351*1.1 = 0.1486 (10% increase), estimate highest/lowest PE = 7.81/4.98 (DPS 0.04)
- Estimate next 4Q eps after 2009 Q4 result announced = 0.1351 (revenue growth but cost also increasing), estimate highest/lowest PE = 5.92/5.26 (DPS 0.04)
- Estimate next 4Q eps after 2009 Q3 result announced = 0.134, estimate highest/lowest PE = 6.42/5.45 (DPS 0.02)
- Estimate next 4Q eps after 2009 Q2 result announced = 0.1138, estimate highest/lowest PE = 7.73/6.63 (DPS 0.02)
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
