KLCI Stock - PWROOT / 7237 - 2013 Quarter 2

POWER ROOT BERHAD


Company Description

Power Root Berhad (formerly Natural Bio Resources Berhad) is an investment holding company. The Company, together with its subsidiaries, is engaged in the manufacture and sale of beverage products. Its operation is divided into local and export market. The local market relates to sales to customers within Malaysia. The export market relates to sales to overseas customers with Middle East Asia being the principal market segment. In January 2009, it opened Restoran Alicafe - Kelana Mall. The restaurant offers a mix of local and western delicacies and drinks. In addition, in January 2009, the Company launched its freeze-dried coffee, the Alicafe Premium Gold Series. The Alicafe Premium Gold Series comprises six new products, four in the form of instant premixed coffee and two in the form of can drinks. The Company's subsidiaries include Power Root (M) Sdn. Bhd., Power Root Marketing Sdn. Bhd., Power Root Manufacturing Sdn. Bhd. and Power Root Nnergy Sdn. Bhd.

Company Info 

Listing Date	2007-05-14
Market Capital (Capital Size)	303,000,000 (Small)
Par Value	RM 0.20
Board	Main
Sector	Consumer Products
Major Industry	Beverages Products
Sub Industry	Cafe
Website	http://www.powerroot.com/

My Analysis 

Forecast P/E now	(1.01-0.06)/0.0708 = 13.42 (Moderate)
Target Price	1.06+0.06 = 1.12 (PE 15.0, EPS 0.0708, DPS 0.06)
Decision	BUY for dividend keep unless stock price slump
Comment	Revenue decreased 11.4% but higher than preceding year corresponding quarter 19.4%, eps increased 16.9% and was second consecutive quarter increasing and also higher than preceding year corresponding quarter 257.6%, cash generated from operating more than enough to cover financing expenses and got disposal to cover investing expenses, margin surge to new high, although liquidity ratio was decreasing but still indicate good position to meet current obligation, higher gearing ratio with higher profit indicate Group is expanding the business, inventory turnover and payables repayment period is good but receivables collection period is slightly longer
First Support Price	0.97
Second Support Price	0.87
Risk Rating	MODERATE

Research House

Jupiter Target Price	1.22 (2012-08-29)
Kenanga Target Price	1.1 (2012-11-06)

Accounting Ratio 

Return on Equity	14.06%
Dividend Yield	5.94%
Operating Profit Margin	18.24%
Net Profit Margin	18.07%
Tax Rate	17.87%
Asset Turnover	0.959
Net Asset Value Per Share	0.65
Net Tangible Asset per share	0.63
Price/Net Tangible Asset Per Share	1.57
Cash Per Share	0.14
Liquidity Current Ratio	2.9553
Liquidity Quick Ratio	2.411
Liquidity Cash Ratio	0.6872
Gearing Debt to Equity Ratio	0.3284
Gearing Debt to Asset Ratio	0.2464
Working capital per thousand Ringgit sale	47.0%
Days to sell the inventory	54
Days to collect the receivables	143
Days to pay the payables	82

Technical Analysis 

SMA 10	1.006 (Uptrend)
SMA 20	1.013 (Downtrend 7 days)
SMA 50	1.015 (Same)
SMA 100	0.878 (Uptrend)
SMA 200	0.687 (Uptrend)
MACD (26d/12d)	-0.002189 ( 0.000516 )
Signal (9)	-0.000346 ( 0.000461 )
MACD Histogram	0.001843 (Bearish trend 48 days)
Bolinger Upper Band	1.063
Bolinger Lower Band	0.963

My notes based on 2013 quarter 2 report (number in '000):-
- Higher revenue than FY12Q2 mainly attributable to the increase in the local and export sales from the Group’s Fast Moving Consumer Goods (“FMCG”) business

- Higher pbt due to the improved FMCG sales and one-off gain on disposal of property by its wholly-owned subsidiary amounting to approximately RM2.1 million

- Lower revenue than FY13Q1 mainly due to the decrease in the sales from the local and overseas markets

- Estimate next 4Q eps after 2013 Q2 result announced = 194510*0.125/300000 = 0.081(exclude one-off gain and tax income), estimate PE on current price 1.01 = 13.42(DPS 0.06)
- Estimate next 4Q eps after 2013 Q1 result announced = 193137*0.11/300000 = 0.0708, estimate highest/lowest PE = 15.11/9.11 (DPS 0.05)
- Estimate next 4Q eps after 2012 Q4 result announced = 186059*0.1/300000 = 0.062, estimate highest/lowest PE = 11.29/7.5 (DPS 0.05)
- Estimate next 4Q eps after 2012 Q3 result announced = 185972*0.08/300000 = 0.0496(ROE 8%), estimate highest/lowest PE = 10.28/9.17 (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)

PWROOT latest news (Chinese)

Financial Quarter Summary

a_date	year	qrt	h_price	l_price	div	roe	c_roe	rev	c_rev	pbt	c_pbt	prof	c_prof	eps	c_eps	asset	c_asset	liab	c_liab	mino	equi	cfo	cfi	cff	cash	fcf	net	final	share	c_share	m_cap	date	oper_m	prof_m	vat	asset_t	pe	navps	ntaps	p/ntaps	cps	l_cur	l_qui	l_cash	g_de	g_da	avg_w	inv_d	rec_d	pay_d
2012-10-30	2013	2	N/A	N/A	0.03	4.90%	9.09%	62644	133341	11320	18803	9120	16910	0.0304	0.0564	258123	175846	63613	59501	779	194510	15718	1656	4550	28833	14062	9512	38345	300000	300000	297000	2012-08-31	18.24%	18.07%	17.87%	0.959	-	0.65	0.63	1.57	0.14	2.9553	2.411	0.6872	0.3284	0.2464	47.0%	54	143	82
2012-07-24	2013	1	1.12	0.695	-	4.19%	4.19%	70697	70697	7483	7483	7790	7790	0.0260	0.0260	253058	169895	59921	56040	938	193137	11693	1582	555	28978	10111	10666	39644	300000	300000	199500	2012-05-31	10.75%	10.58%	-	0.938	-	0.64	0.62	1.07	0.14	3.0317	2.5321	0.735	0.3118	0.2368	48.0%	47	146	81
2012-04-25	2012	4	0.75	0.515	0.025	2.43%	9.00%	58609	217036	4990	19373	4413	16354	0.0147	0.0545	233701	149941	47642	43865	598	186059	15393	3614	9594	26406	11779	2185	28591	300000	300000	162000	2012-02-29	8.62%	8.51%	4.03%	0.9287	9.9058	0.62	0.6	0.9	0.1	3.4182	2.6614	0.678	0.2569	0.2039	48.9%	61	137	68
2012-01-17	2012	3	0.55	0.495	-	2.54%	6.57%	55582	158427	6047	14383	4613	11941	0.0154	0.0398	238034	152010	52062	47660	-	185972	14027	4531	3433	26390	9496	6063	32453	300000	300000	147000	2011-11-30	10.81%	10.88%	23.71%	0.8514	-	0.62	0.6	0.82	0.12	3.1895	2.5135	0.7481	0.2799	0.2187	51.5%	64	143	81
2011-10-25	2012	2	0.55	0.475	0.02	1.40%	4.03%	52475	102845	2375	8336	2553	7328	0.0085	0.0244	225896	138860	44565	40529	-	181331	5414	4633	4741	26362	781	3960	22402	300000	300000	154500	2011-08-31	4.73%	4.53%	-	0.8225	-	0.6	0.59	0.87	0.09	3.4262	2.6488	0.6455	0.2458	0.1973	52.9%	67	147	72
2011-07-26	2012	1	0.585	0.475	-	3.18%	3.18%	50370	50370	5961	5961	5775	5775	0.0193	0.0193	227823	141933	42952	38582	-	184871	2209	1919	451	26455	290	741	27196	300000	300000	171000	2011-05-31	12.19%	11.83%	3.12%	0.8038	-	0.62	0.6	0.95	0.1	3.6787	2.9658	0.8048	0.2323	0.1885	56.4%	60	154	72
2011-04-26	2011	4	0.595	0.525	0.02	1.32%	6.37%	44228	182440	4651	14821	2525	12213	0.0084	0.0407	221587	132440	39867	35553	-	181720	3848	6846	22624	52078	2998	25622	26456	300000	300000	165000	2011-02-28	10.47%	10.52%	45.71%	0.8233	13.5102	0.61	0.59	0.93	0.09	3.7251	3.045	0.8005	0.2194	0.1799	53.1%	53	147	68
2011-01-25	2011	3	0.665	0.52	-	0.59%	5.05%	38718	138212	924	10170	1136	9688	0.0038	0.0323	240346	151266	44830	41194	-	195516	6861	6764	4333	52190	97	4236	47954	300000	300000	196500	2010-11-30	2.69%	2.39%	-	0.7306	-	0.65	0.63	1.04	0.17	3.672	3.0069	1.2282	0.2293	0.1865	62.7%	61	138	83
2010-10-26	2011	2	0.815	0.55	0.06	2.08%	4.46%	49799	99494	4014	9246	3986	8552	0.0133	0.0285	238678	152446	44305	40754	-	194373	6941	2730	4458	52183	4211	247	51936	300000	300000	210000	2010-08-31	8.30%	8.06%	0.70%	0.7191	-	0.65	0.63	1.11	0.18	3.7406	3.1795	1.3406	0.2279	0.1856	65.1%	53	145	85
2010-07-27	2011	1	0.73	0.56	-	2.38%	2.38%	49695	49695	5232	5232	4566	4566	0.0152	0.0152	239546	152958	43102	39665	-	196444	9736	1106	2238	52010	8630	10868	62878	300000	300000	165000	2010-05-31	11.11%	10.53%	12.73%	0.7084	-	0.65	0.64	0.86	0.22	3.8562	3.2945	1.6431	0.2194	0.1799	66.8%	53	128	83
2010-04-27	2010	4	0.6	0.495	0.02	0.41%	5.26%	37377	153107	994	12982	794	10180	0.0026	0.0339	225358	138040	33488	30234	-	191870	32862	11781	14324	45253	21081	6757	52010	300000	300000	178500	2010-02-28	2.59%	2.66%	179.88%	0.6794	17.5344	0.64	0.62	0.96	0.18	4.5657	3.7267	1.7746	0.1745	0.1486	70.4%	66	127	72
2010-01-26	2010	3	0.61	0.485	-	1.65%	5.66%	34768	115730	3245	11988	3202	10966	0.0107	0.0366	233011	146238	40578	37510	-196	192433	26098	10371	6845	45223	15727	8882	54105	300000	300000	171000	2009-11-30	9.56%	9.33%	1.08%	0.607	-	0.64	0.62	0.92	0.19	3.8986	3.1759	1.5102	0.2107	0.1741	76.9%	75	145	79
2009-10-27	2010	2	0.62	0.515	0.02	2.92%	4.01%	47851	80962	6524	8743	5654	7764	0.0188	0.0259	231041	144882	35610	32542	-	195431	17843	8627	6625	45223	9216	2591	47814	300000	300000	174000	2009-08-31	13.93%	13.63%	13.34%	0.6211	-	0.65	0.63	0.92	0.17	4.4522	3.616	1.5373	0.1822	0.1541	78.3%	76	156	79
2009-07-28	2010	1	0.64	0.45	-	1.09%	1.09%	33111	33111	2219	2219	2110	2110	0.0070	0.0070	225489	144442	29712	26644	-	195777	10041	1528	1643	45223	8513	6870	52093	300000	300000	160500	2009-05-31	6.99%	6.70%	4.91%	0.6227	-	0.65	0.64	0.84	0.18	5.4212	4.1601	2.0159	0.1518	0.1318	83.9%	95	134	68
2009-04-29	2009	4	0.57	0.32	0.02	0.56%	4.91%	25711	138146	2150	9367	1104	9759	0.0037	0.0325	225625	145389	31958	28890	-	193667	20229	17642	24408	67043	2587	21821	45222	300000	300000	96000	2009-02-28	8.26%	8.36%	-	0.6123	9.8371	0.65	0.63	0.51	0.16	5.0325	3.7407	1.6333	0.165	0.1416	84.3%	107	149	71
2009-01-21	2009	3	0.345	0.215	-	2.02%	4.35%	36831	112435	4942	11517	4020	8655	0.0134	0.0289	225559	148021	32996	27390	-	192563	9712	13465	22408	69009	3753	26161	42848	300000	300000	78000	2008-11-30	14.50%	13.42%	18.66%	0.6933	-	0.64	0.63	0.41	0.14	5.4042	4.0813	1.5644	0.1714	0.1463	77.1%	99	151	60
2008-10-21	2009	2	0.325	0.255	0.01	1.73%	2.33%	44760	75604	4942	6574	3450	4634	0.0115	0.0154	247425	174228	43883	28154	-	203542	7350	8317	1141	69009	967	2108	66901	300000	300000	90000	2008-08-31	11.64%	11.04%	30.19%	0.6582	-	0.68	0.66	0.45	0.22	6.1884	4.9471	2.3762	0.2156	0.1774	89.7%	98	162	69
2008-07-23	2009	1	0.64	0.275	-	0.59%	0.59%	30842	30842	1631	1631	1183	1183	0.0039	0.0039	234731	167739	34639	18345	-	200092	2275	1582	594	69009	693	99	69108	300000	300000	192000	2008-05-31	6.23%	5.29%	27.47%	0.7087	-	0.67	0.65	0.98	0.23	9.1436	6.9679	3.7671	0.1731	0.1476	89.8%	117	129	48
2008-04-29	2008	4	0.83	0.635	0.04	20.48%	77.52%	43952	178479	10234	47937	10362	39220	0.0345	0.1307	242142	176259	43233	26363	-	198909	8888	27118	81565	3708	18230	63335	67043	300000	300000	244500	2008-02-29	24.34%	23.28%	-	0.7433	6.2341	0.66	0.65	1.25	0.23	6.6858	5.1162	2.6176	0.2174	0.1785	83.3%	116	130	70
2008-01-28	2008	3	0.99	0.76	-	21.51%	57.11%	43293	136023	14244	37741	10883	28896	0.0363	0.1035	230852	181196	36258	20140	-	194594	735	8797	89193	5428	8062	81131	86559	300000	279167	285000	2007-11-30	33.38%	32.90%	23.60%	0.5892	-	0.7	0.68	1.4	0.29	8.9968	7.1134	4.2979	0.1863	0.1571	118.4%	143	152	58
2007-10-29	2008	2	1.17	0.92	0.02	21.06%	35.60%	48269	92730	13923	23495	10655	18011	0.0355	0.0670	218131	171989	34423	16970	-	183708	6812	5234	90218	5428	12046	78172	83600	300000	268750	342000	2007-08-31	29.69%	28.84%	23.47%	0.4251	-	0.68	0.66	1.73	0.28	10.1349	8.211	4.9263	0.1874	0.1578	167.2%	-	219	N/A
2007-07-30	2008	1	N/A	N/A	-	14.54%	14.54%	44461	44461	9572	9572	7356	7356	0.0310	0.0310	244352	202578	71298	53591	-	173054	5077	653	119271	5428	5730	113541	118969	237500	237500	377625	2007-05-31	23.10%	21.53%	23.15%	0.182	-	0.73	0.71	2.24	0.5	3.7801	3.175	2.2199	0.412	0.2918	335.1%	-	420	N/A
N/A	2007	4	N/A	N/A	-	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	116420	74965	65827	48160	-	50593	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	2007-02-28	0.00%	0.00%	-	N/A	-	N/A	N/A	N/A	N/A	1.5566	1.0982	0.1348	1.3011	0.5654	N/A	-	N/A	N/A

Financial Quarter Balance Sheet

year	qrt	Deferred tax assets (A-0)	Goodwill on consolidation (A-0)	Intangible assets (A-0)	Investment properties (A-0)	Property, plant and equipment (A-0)	Cash and cash equivalents (A-1)	Current asset classified as held for sales (A-1)	Current tax assets (A-1)	Fixed deposits with licensed banks (A-1)	Inventories (A-1)	Other investments (A-1)	Trade receivables (A-1)	Deferred tax liabilities (L-0)	Loans & borrowings (L-0)	Current tax liabilities (L-1)	Dividend payable (L-1)	Loans & borrowings (L-1)	Trade and other payables (L-1)	Minority interest (M-1)
2013	2	988	5227	120	2597	73345	21187	2485	2830	17158	32392	2546	97248	2654	1458	16	-	10406	49079	779
2013	1	988	5227	124	5103	71721	21701	1755	3855	17943	27996	1543	95102	2313	1568	63	-	7713	48264	938
2012	4	1155	5227	128	5124	72126	17593	1759	3723	11228	33197	921	81520	2143	1634	33	-	7092	36740	598
2012	3	-	5239	132	-	80653	12399	-	4512	20054	32216	3200	79629	2673	1729	32	-	7158	40470	-
2012	2	-	5239	136	-	81661	15171	-	6485	7231	31505	3761	74707	2228	1808	1087	-	5771	33671	-
2012	1	-	5227	139	-	80524	16917	-	6184	10504	27505	3630	77193	2473	1897	826	-	4874	32882	-
2011	4	1623	5227	143	-	82154	15449	-	6255	11231	24181	1780	73544	2286	2028	56	-	4291	31206	-
2011	3	-	5227	147	-	83706	14298	-	7122	33656	27401	2642	66147	1116	2520	50	-	4091	37053	-
2011	2	-	5227	151	-	80854	14758	-	6754	37178	22869	2699	68188	1031	2520	105	-	3967	36682	-
2011	1	-	5227	155	-	81206	15566	-	6154	47534	22281	2074	59349	917	2520	311	-	4663	34691	-
2010	4	-	5227	158	-	81933	12234	-	5858	39998	25366	1422	53162	734	2520	49	-	2425	27760	-
2010	3	708	5115	162	-	80788	11785	-	6118	43928	27111	934	56362	-	3068	-	6000	3279	28231	196
2010	2	857	4830	166	-	80306	11195	-	6419	38233	27209	599	61227	-	3068	730	-	3499	28313	-
2010	1	1093	4830	170	-	74954	11270	-	5549	42441	33599	-	51583	-	3068	96	-	2483	24065	-
2009	4	1105	4830	173	-	74128	9723	-	4530	37462	37320	-	56354	-	3068	4	-	4124	24762	-
2009	3	-	4830	177	-	72531	6350	-	4197	36498	36235	-	64741	1843	3763	-	3000	2430	21960	-
2009	2	-	4830	181	-	68186	19411	-	-	47489	34948	-	72380	1737	13992	1884	-	1469	24801	-
2009	1	-	4830	185	-	61977	7126	-	-	61982	39913	-	58718	1808	14486	328	-	1521	16496	-
2008	4	-	4829	189	-	60865	9043	-	1697	59966	41380	-	64173	1711	15159	66	-	1441	24856	-
2008	3	-	4830	195	-	44631	7787	-	-	78772	37933	-	56704	533	15585	2279	-	2434	15427	-
2008	2	-	4830	196	-	41116	5943	-	-	77657	32648	-	55741	520	16933	1744	-	2090	13136	-
2008	1	-	4829	201	-	36744	18134	-	-	100835	32425	-	51184	366	17341	773	-	31035	21783	-
2007	4	-	4829	204	-	36422	4771	-	-	1721	22077	-	46396	380	17287	786	-	27687	19687	-

Financial Quarter Income Statement

year	qrt	Revenue	Income tax expense	Finance/interest costs	Other income	Administrative/Operating expenses	Minority interest	Depreciation & amortisation	Changes in inventories of finished goods	Raw material & consumables used	Staff costs
2013	2	62644	2023	108	1937	18549	177	1488	-	27242	5874
2013	1	70697	605	114	1921	24149	298	1535	-	32873	6464
2012	4	58609	201	62	177	17398	376	1671	-	27822	6489
2012	3	55582	1434	40	1290	15732	-	1580	-	27781	5772
2012	2	52475	178	105	85	16687	-	1596	-	26892	4735
2012	1	50370	186	177	361	16861	-	1580	-	21174	4978
2011	4	44228	2126	21	1446	23357	-	1618	4766	15042	5793
2011	3	38718	212	117	419	14829	-	1509	2162	16073	3523
2011	2	49799	28	119	100	13373	-	1651	869	24661	5212
2011	1	49695	666	289	40	17456	-	1457	-	20250	4971
2010	4	37377	1788	25	1258	13137	-	1519	1232	16135	5643
2010	3	34768	35	79	25	11453	8	1335	4659	19152	4138
2010	2	47851	870	144	445	16327	-	1294	8623	12010	3374
2010	1	33111	109	97	498	11818	-	1260	1327	12116	3776
2009	4	25711	3254	27	2572	15792	-	1232	3181	11766	4797
2009	3	36831	922	400	82	9966	-	1182	283	16548	3592
2009	2	44760	1492	270	57	15382	-	1065	1907	17763	3374
2009	1	30842	448	291	82	13670	-	959	77	11363	3087
2008	4	43952	128	464	559	6408	-	797	4719	17795	4094
2008	3	43293	3361	209	63	10568	-	687	6567	21168	3047
2008	2	48269	3268	409	532	10305	-	648	850	19708	2958
2008	1	44461	2216	697	180	13892	-	564	2763	19595	3084

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

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●CHANGES IN SHAREHOLDING
●ANNUAL REPORTS

HISTORICAL

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●CHANGES IN SHAREHOLDING

HISTORICAL

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●CHANGES IN SHAREHOLDING

ARCHIVES

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●CHANGES IN SHAREHOLDING