Company Description TIME DOTCOM BERHAD is a Malaysia-based investment holding company engaged in the provision of management and marketing/promotional services and retailing of telecommunications products. Its subsidiaries are TT dotCom Sdn. Bhd., which is engaged in the provision of voice, data, video and image communication services; TIMESat Sdn. Bhd.; TIME dotNet Bhd., which is engaged in the provision and marketing of Internet services to customers, which include the provision of access to the world wide Web, the organization and aggregation of content, provision of virtual private network, online call center, Internet telephony, online services, on-net advertising and virtual data storage and provision of application services, and Hakikat Pasti Sdn. Bhd., which is engaged in acquiring and holding for investment purposes shares, stocks, debenture bonds, notes, obligations and securities and every other kind and description of movable and immovable property.
Company Info
Listing Date 2001-03-12 IPO Price 3.3 Market Capital (Capital Size) 2,005,826,868 (Large) Par Value RM 0.50 Board Main Sector IPC Major Industry Utilities Sub Industry Mobile Communication & Network Services Website http://www.time.com.my
My Analysis
Forecast P/E now 3.5/0.2769 = 12.64 (Moderate) Target Price 0.2769*13.5 = 3.74 (PE 13.5, EPS 0.2769) Decision BUY if stock price strong sustain and uptrend above SMA10 or wait rebound at around SMA100 or SMA200 Comment Revenue increased 3.9% and was second consecutive quarter increasing and also higher than preceding year corresponding quarter 43%, eps decreased 8.8% and also lower than preceding year corresponding quarter 21.6%, cash generated from operating not enough to cover all financing expenses hence increase borrowings and spent 16.2% of Group cash to cover all other expenses, operating margin recorded 18% which is improve compared to earlier below 15%, liquidity ratio indicate current assets more than enough to meet current obligation, gearing ratio indicate very low liabilities risk, benefit from shorter receivables collection period than payables payment period in which can increase cash
First Support Price 3.45 Second Support Price 3.3 Risk Rating MODERATE
Research House
HLG Target Price 4.66 (2012-11-29) OSK Target Price 4.98 (2012-11-29)
Accounting Ratio
Return on Equity 7.84% Dividend Yield - Operating Profit Margin 18.64% Net Profit Margin 33.81% Tax Rate 3.20% Asset Turnover 0.1369 Net Asset Value Per Share 4.42 Net Tangible Asset per share 4.03 Price/Net Tangible Asset Per Share 0.84 Cash Per Share 0.36 Liquidity Current Ratio 1.6127 Liquidity Quick Ratio 1.6127 Liquidity Cash Ratio 0.8536 Gearing Debt to Equity Ratio 0.1663 Gearing Debt to Asset Ratio 0.1426 Working capital per thousand Ringgit sale 39.1% Days to sell the inventory - Days to collect the receivables 177 Days to pay the payables 268
Technical Analysis
SMA 10 3.446 (Uptrend) SMA 20 3.45 (Uptrend 1 day) SMA 50 3.419 (Uptrend) SMA 100 3.393 (Same) SMA 200 3.314 (Uptrend) MACD (26d/12d) 0.008863 ( 0.00319 ) Signal (9) 0.0049 ( 0.000991 ) MACD Histogram 0.003963 (Bullish trend 3 days)Bolinger Upper Band 3.531 Bolinger Lower Band 3.369
My notes based on 2012 quarter 3 report (number in '000):- TIMECOM latest news (English) TIMECOM 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 2012-11-27 2012 3 N/A N/A - 2.05% 5.83% 110069 297257 37216 105503 36026 102464 0.0630 0.1901 2779044 391721 396259 242892 - 2382785 83200 138506 19990 217588 55306 35316 182272 572070 538992 1927875 2012-09-30 18.64% 33.81% 3.20% 0.1369 - 4.42 4.03 0.84 0.36 1.6127 1.6127 0.8536 0.1663 0.1426 39.1% - 177 268 2012-08-16 2012 2 3.56 3.1 - 2.12% 3.78% 105928 187188 38658 68287 37186 66438 0.0691 0.1272 2494946 408274 429483 266067 - 2065463 45473 108083 31448 217699 62610 31162 186537 538380 522179 1782037 2012-06-30 22.03% 36.49% 3.81% 0.1392 - 3.96 3.55 0.93 0.39 1.5345 1.5345 0.787 0.2079 0.1721 40.9% - 209 338 2012-05-18 2012 1 3.65 2.7 - 1.66% 1.66% 81260 81260 29629 29629 29252 29252 0.0116 0.0116 2030481 408172 194072 193953 - 1836409 14175 19085 N/A 217442 4910 4910 212532 2530775 2530775 6858400 2012-03-31 12.60% 36.46% 1.27% 0.1601 - 0.73 0.73 3.71 0.09 2.1045 2.1045 1.1903 0.1057 0.0956 65.9% - 199 278 2012-02-23 2011 4 3.24 0.65 0.02 2.01% 9.39% 83184 313872 25596 119020 25170 117354 0.0099 0.0464 1950698 393175 193041 192803 - 1757657 84903 67122 N/A 199661 17781 17781 217442 2530775 2530775 1720927 2011-12-31 16.38% 30.77% 1.66% 0.1609 14.6644 0.69 0.69 0.99 0.09 2.0393 2.0393 1.2164 0.1098 0.099 63.8% - 184 288 2011-11-25 2011 3 0.775 0.655 - 3.26% 7.38% 76979 230688 41944 93424 40704 92184 0.0161 0.0364 1673604 364001 171567 170009 - 1502037 60744 53119 N/A 199661 7625 7625 207286 2530775 2530775 1632349 2011-09-30 41.57% 54.49% 2.96% 0.1889 - 0.59 0.59 1.09 0.09 2.1411 2.1411 1.3153 0.1142 0.1025 61.3% - 161 248 2011-08-24 2011 2 0.695 0.415 - 2.29% 4.12% 83649 153709 28597 51480 28597 51480 0.0113 0.0203 1600652 350933 177269 175711 - 1423383 20195 14022 N/A 199661 6173 6173 205834 2530775 2530775 1353964 2011-06-30 18.06% 34.19% - 0.204 - 0.56 0.56 0.96 0.08 1.9972 1.9972 1.2201 0.1245 0.1107 53.7% - 152 228 2011-05-30 2011 1 0.84 0.53 - 1.83% 1.83% 70060 70060 22883 22883 22883 22883 0.0090 0.0090 1599114 377906 216428 212169 - 1382686 17100 3486 N/A 199661 20586 20586 220247 2530775 2530775 2011966 2011-03-31 13.50% 32.66% - 0.2039 - 0.55 0.55 1.45 0.09 1.7812 1.7812 1.0437 0.1565 0.1353 50.8% - 174 273 2011-02-28 2010 4 0.955 0.73 - 4.16% 10.05% 85520 321083 26207 88906 44372 107071 0.0175 0.0423 1435733 343315 185930 181671 - 1249803 48362 22216 38 173553 26146 26108 199661 2530775 2530775 1910735 2010-12-31 12.78% 30.64% - 0.2236 17.8455 0.49 0.49 1.54 0.08 1.8898 1.8898 1.099 0.1488 0.1295 50.3% - 162 233 2010-11-25 2010 3 0.895 0.62 - 1.97% 5.88% 87346 235563 20949 62699 20949 62699 0.0083 0.0248 1391563 355547 194382 194382 - 1197181 64841 41183 38 173553 23658 23620 197173 2530775 2530775 1708273 2010-09-30 11.41% 23.98% - 0.2232 - 0.47 0.47 1.44 0.08 1.8291 1.8291 1.0144 0.1624 0.1397 51.9% - 186 258 2010-08-24 2010 2 0.775 0.485 - 2.16% 3.92% 83177 148217 22982 41750 22982 41750 0.0091 0.0165 1296662 319536 156180 156180 - 1140482 46216 20619 N/A 173553 25597 25597 199150 2530775 2530775 1442541 2010-06-30 14.71% 27.63% - 0.2261 - 0.45 0.45 1.27 0.08 2.0459 2.0459 1.2751 0.1369 0.1204 55.7% - 150 219 2010-05-27 2010 1 0.725 0.4 - 1.76% 1.76% 65040 65040 18768 18768 18768 18768 0.0074 0.0074 1268224 295035 162274 162274 - 1105950 21189 19869 N/A 173553 1320 1320 174873 2530775 2530775 1024963 2010-03-31 4.60% 28.86% - 0.2191 - 0.44 0.44 0.92 0.07 1.8181 1.8181 1.0776 0.1467 0.128 47.8% - 158 231 2010-02-22 2009 4 0.545 0.37 - 3.04% 3.20% 74977 286811 31383 33096 31383 33086 0.0124 0.0131 1219472 273193 153740 153740 - 1065732 93914 9900 109 89648 84014 83905 173553 2530775 2530775 949040 2009-12-31 13.46% 41.86% - 0.2352 28.6841 0.42 0.42 0.89 0.07 1.777 1.777 1.1289 0.1443 0.1261 41.6% - 125 207 2009-11-12 2009 3 0.435 0.365 - 1.16% 0.16% 69931 211834 11941 1713 11941 1703 0.0047 0.0007 1184050 252890 149701 149701 - 1034349 69822 18330 6500 89648 51492 57992 147640 2530775 2530775 1024963 2009-09-30 11.47% 17.08% - 0.2406 - 0.41 0.41 0.99 0.06 1.6893 1.6893 0.9862 0.1447 0.1264 36.2% - 135 30 2009-08-27 2009 2 0.46 0.365 - 2.37% 0.99% 67898 141903 24454 10228 24454 10238 0.0097 0.0040 1746114 810581 723706 723706 - 1022408 26756 21613 N/A 89648 5143 5143 94791 2530775 2530775 1050271 2009-06-30 0.53% 36.02% - 0.1667 - 0.4 0.4 1.04 0.05 1.12 1.12 0.1579 0.7078 0.4145 29.8% - 124 34 2009-05-28 2009 1 0.455 0.335 - 3.36% 3.36% 74005 74005 34682 34682 34692 34692 0.0137 0.0137 1778469 245182 780515 247105 - 997954 4752 11857 N/A 89648 7105 7105 82543 2530775 2530775 961694 2009-03-31 3.73% 46.86% - 0.1656 - 0.39 0.39 0.97 0.05 0.9922 0.9922 0.5166 0.7821 0.4389 -0.7% - 116 31 2009-02-27 2008 4 0.46 0.2 - 75.27% 47.91% 73001 286525 1492690 950471 1492063 949630 0.5896 0.3752 2306263 778797 1273617 660207 - 1032646 71048 73572 N/A 92172 2524 2524 89648 2530775 2530775 658001 2008-12-31 1984.46% 2044.75% - 0.1242 - 0.41 0.41 0.63 0.05 1.1796 1.1796 0.2099 1.2334 0.5522 41.4% - 173 28 2008-11-28 2008 3 0.305 0.24 - 0.17% 27.36% 76235 213524 3867 542219 3458 542433 0.0014 0.2143 3823418 294208 1298709 155629 - 2524709 55972 50995 N/A 92172 4977 4977 97149 2530775 2530775 632693 2008-09-30 44.75% 5.07% - 0.0744 - 1.0 0.76 0.33 0.07 1.8904 1.854 1.199 0.5144 0.3397 48.7% 5 131 139 2008-08-28 2008 2 0.345 0.21 - 30.37% 27.54% 71248 137289 602063 546086 601973 545891 0.2379 0.2157 3812095 253441 1283928 156716 - 2528167 61721 32676 N/A 92172 29045 29045 121217 2530775 2530775 809848 2008-06-30 56.53% 845.02% 0.01% 0.0742 - 1.0 0.77 0.42 0.07 1.6172 1.5797 1.0614 0.5078 0.3368 34.2% 6 105 171 2008-05-22 2008 1 0.425 0.295 - 2.83% 2.83% 66041 66041 55977 55977 56082 56082 0.0222 0.0222 3200096 235276 1273902 170378 - 1926194 8559 14377 N/A 92172 5818 5818 86354 2530775 2530775 1075579 2008-03-31 59.66% 84.76% - 0.0898 - 0.76 0.53 0.8 0.05 1.3809 1.3453 0.8003 0.6614 0.3981 22.6% 9 118 241 2008-02-26 2007 4 0.585 0.405 - 2.33% 7.50% 70789 301061 50537 160903 49943 160673 0.0197 0.0635 3228636 240363 1246360 158551 - 1982276 39603 44807 N/A 97376 5204 5204 92172 2530775 2530775 1442541 2007-12-31 54.36% 71.39% - 0.0932 - 0.78 0.55 1.04 0.06 1.516 1.4772 0.8967 0.6288 0.386 27.2% 8 112 216 2007-11-23 2007 3 0.865 0.56 - 1.78% 5.17% 74651 230272 37944 110366 38041 110730 0.0150 0.0438 2191610 256450 159391 159391 - 2032219 39740 28651 N/A 147376 11089 11089 158465 2530775 2530775 2075235 2007-09-30 52.49% 50.83% - 0.1395 - 0.8 0.57 1.44 0.06 1.6089 1.5602 0.9942 0.0784 0.0727 31.7% 9 108 177 2007-08-20 2007 2 1.05 0.8 - 1.54% 3.39% 75975 155621 32795 72422 32947 72689 0.0130 0.0287 2224541 256851 154281 154281 - 2070260 27680 20093 N/A 147376 7587 7587 154963 2530775 2530775 N/A 2007-06-30 44.91% 43.17% - 0.1039 - 0.82 0.58 N/A 0.06 1.6648 1.614 1.0044 0.0745 0.0694 44.4% 11 149 224 2007-05-29 2007 1 N/A N/A - 1.85% 1.85% 79646 79646 39627 39627 39742 39742 0.0157 0.0157 2256180 246944 152973 152973 - 2103207 5783 10850 N/A 147376 5067 5067 142309 2530775 2530775 2062581 2007-03-31 51.09% 49.75% - 0.0688 - 0.83 0.6 1.36 0.06 1.6143 1.5627 0.9303 0.0727 0.0678 60.6% 16 228 319 2007-02-22 2006 4 N/A N/A - N/A N/A 75521 335395 52393 177076 52585 177782 0.0208 0.0702 2285105 242143 142156 142156 - 2142949 25096 87906 N/A 210186 62810 62810 147376 2530775 2530775 1872773 2006-12-31 71.42% 69.38% - 0.033 - 0.85 0.61 1.21 0.06 1.7034 1.6478 1.0367 0.0663 0.0622 132.4% 33 420 590
Financial Quarter Balance Sheet
year qrt Available-for-sale financial assets (A-0) Deferred tax assets (A-0) Intangible assets (A-0) Property, plant and equipment (A-0) Telecommunications network (A-0) Trade receivables (A-0) Cash and cash equivalents (A-1) Current asset classified as held for sales (A-1) Current tax assets (A-1) Inventories (A-1) Restricted cash (A-1) Trade receivables (A-1) Deferred tax liabilities (L-0) Finance lease liabilities (L-0) Loans & borrowings (L-0) Trade payables (L-0) Bank overdraf (L-1) Deferred income (L-1) Finance lease liabilities (L-1) Liabilities directly associated with assets classified as held for sale (L-1) Loans & borrowings (L-1) Provision for taxation (L-1) Trade and other payables (L-1) 2012 3 1452100 19504 213038 67352 635329 - 183010 - 15 - 24314 184382 2554 3893 146166 754 738 - 3454 - 11447 924 226329 2012 2 1168840 19114 213038 66716 616794 2170 186713 - 15 - 22684 198862 2554 5111 154619 1132 176 - 3425 - 13325 3893 245248 2012 1 1116540 18504 - 35569 445540 6156 212532 - - - 18336 177304 - - - 119 - - - - - 381 193572 2011 4 1067040 18504 - 34205 426972 10802 217442 - 705 - 17084 157944 - - - 238 - - - - - 222 192581 2011 3 836590 18504 - 36005 402537 15967 207286 - 621 - 16324 139770 - - - 1558 - - - - - 1073 168936 2011 2 798600 18504 - 28450 384432 19733 205834 - 833 - 8557 135709 - - - 1558 - - - - - - 175711 2011 1 786500 18504 - 28338 371545 16321 220247 - 833 - 1200 155626 - - - 4259 - - - - - - 212169 2010 4 676500 18504 - 28160 349548 19706 199661 - 833 - - 142821 - - - 4259 - - - - - - 181671 2010 3 668250 - - 29156 338610 - 197173 - - - - 158374 - - - - - - - - - - 194382 2010 2 632500 - - 30280 314346 - 199150 - - - - 120386 - - - - - - - - - - 156180 2010 1 620950 - - 31217 321022 - 174873 - - - - 120162 - - - - - - - - - - 162274 2009 4 599500 - - 31950 314829 - 173553 - 1230 - - 98410 - - - - - - - - - - 153740 2009 3 599500 - - 32840 298820 - 147640 - - - - 105250 - - - - - - - - 6500 - 143201 2009 2 599500 - - 36072 299961 - 114253 597222 - - - 99106 - - - - - - - - 560075 - 163631 2009 1 1196722 - - 33563 303002 - 127658 23974 - - - 93550 - - 533410 - - - - 15674 75987 - 155444 2008 4 1196722 - - 33273 297471 - 138595 504670 - - - 135532 - - 613410 - - - - 12136 505900 - 142171 2008 3 1766207 - 591401 39637 1131965 - 186593 - - 5679 - 101936 - - 1143080 - - 18286 - - - - 137343 2008 2 1766207 - 591401 40129 1160917 - 166343 - - 5877 - 81221 - - 1127212 - - 18844 - - - - 137872 2008 1 1081457 - 591401 40984 1250978 - 136354 - - 6059 - 92863 - - 1103524 - - 20014 - - - - 150364 2007 4 1081457 - 591401 40761 1274654 - 142172 - - 6153 - 92038 - - 1087809 - - 21947 - - - - 136604 2007 3 - - 591401 43827 1299932 - 158465 - - 7768 - 90217 - - - - - 23512 - - - 405 135474 2007 2 - - 591401 46372 1329917 - 154963 - - 7846 - 94042 - - - - - 21874 - - - 285 132122 2007 1 - - 591401 48952 1368883 - 142309 - - 7888 - 96747 - - - - - 22472 - - - 318 130183 2006 4 - - 591401 50536 1401025 - 147376 - - 7903 - 86864 - - - - - 22488 - - - 482 119186
Financial Quarter Income Statement
year qrt Revenue Income tax expense Cost of sales Finance/interest costs Other income Administrative/Operating expenses Finance/interest income Depreciation & amortisation Investment gain/loss Impairment loss Net realised gain on disposal of investment in quoted securities Gain/loss on disposal of non-current assets held for sale Payment for voluntary separation scheme 2012 3 110069 1190 - 2011 623 72436 - 17743 18714 - - - - 2012 2 105928 1472 - 1131 1313 67982 - 15925 16455 - - - - 2012 1 81260 377 - - 751 58513 - 13257 19388 - - - - 2011 4 83184 426 - - 469 53885 - 16146 11974 - - - - 2011 3 76979 1240 - - 419 31523 - 13874 9943 - - - - 2011 2 83649 - - - 234 55503 - 13273 13490 - - - - 2011 1 70060 - - - 45 47505 - 13143 13426 - - - - 2010 4 85520 18165 - 0 726 62209 - 13109 15279 - - - - 2010 3 87346 - - 38 349 65943 - 11788 11023 - - - - 2010 2 83177 - - - 548 58438 - 13054 10749 - - - - 2010 1 65040 - - - 241 49523 - 12768 15778 - - - - 2009 4 74977 0 - 109 1974 54056 - 12805 21402 - 0 - 0 2009 3 69931 0 - 4102 394 51267 - 11040 14046 - 5643 - 11664 2009 2 67898 0 - 5920 838 56465 - 11913 30016 - 0 - - 2009 1 74005 10 - 9917 1330 66633 - 11465 1050 - 23052 - - 2008 4 73001 627 - 17275 145 62366 - 240924 61720 1218531 85250 0 3210 2008 3 76235 409 - 15552 2231 70622 - 41957 45798 - - 0 - 2008 2 71248 90 - 21803 2372 72559 - 41335 47155 - - 616985 - 2008 1 66041 105 - 17657 1677 66306 - 40812 1080 - - - - 2007 4 70789 594 28006 13371 1757 34069 - 48949 1312 - - - - 2007 3 74651 97 76775 0 571 37630 1239 - - - - - - 2007 2 75975 152 75943 4 877 35032 1332 - - - - - - 2007 1 79646 115 86984 - 890 34240 1061 - - - - - - 2006 4 75521 192 87581 52 502 42378 1595 - - - - - -
Short form reference a_date = announcement date, yr = financial year end, qrt = quarterh_price = stock highest price during the quarter, l_price = stock lowest price during the quarterdiv = dividend recommend or declare in the quarter, roe = return on equityc_roe = cumulative of return on equity during the financial yearrev = revenue in the current quarter, c_rev = cumulative of revenue during the financial yearpbt = profit before tax in the current quarter, c_pbt = cumulative of profit before tax during the financial yeareps = earnings per share in the current quarter, c_eps = cumulative of earnings per share during the financial yearasset = total asset, liab = total liability, mino = minority interest, equi = total equitycfo = net cash flow from operating activities, cfi = net cash flow from investing activitiescff = net cash flow from financing activities, cash = cash and cash equivalents as at beginning of financial yearfinal = cash and cash equivalents as at current financial period endedshare = diluted/basic weighted average number of ordinary sharesc_share = cumulative of diluted/basic weighted average number of ordinary shares during the financial yearm_cap = market capital at announcement date of quarterly report, date = current financial period ended dateprof_m = profit margin, vat = income tax rate, pe = price earning per share ratio of recent four quarternavps = net asset value per share, ntaps = net tangible asset per share, cps = cash per sharel_cur = liquidity current ratio, l_qui = liquidity quick ratio, l_cash = liquidity cash ratiog_de = gearing debt to equity ratio, g_da = gearing debt to assets ratioavg_w = working capital per thousand Ringgit saleinv_d = days to sell the inventory, rec_d = days to collect the receivablespay_d = days to pay the payablesCURRENT ● CHANGES IN SHAREHOLDING ● ANNUAL REPORTS HISTORICAL ● CHANGES IN SHAREHOLDING ARCHIVES ● CHANGES IN SHAREHOLDING 
1 comment:
As a researcher I finds KLSE stock analysis not more difficult as before. As I also got a detailed information about Malaysian market from here itself.
Post a Comment