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.
My notes based on 2011 quarter 4 report (number in '000):-
- Higher revenue and pbt mainly due to improved performance from the Group’s various development activities especially SiLC, East Ledang, Nusa Idaman, Nusa Bayu and Symphony Hills. The current quarter also includes the consolidation of the results from Sunrise Berhad
- Its on-going projects have an unbilled sales of RM1.85 billion as at 31 December 2011
- Estimate next 4Q eps after 2011 Q4 result announced = 5296613*0.09/4672449 = 0.102, estimate PE on current price 2.31 = 22.65
- Estimate next 4Q eps after 2011 Q3 result announced = 0.08, estimate highest/lowest PE = 30.88/23.88
- Estimate next 4Q eps after 2011 Q2 result announced = 0.0663*1.2 = 0.08, estimate highest/lowest PE = 28.63/19.25
- Estimate next 4Q eps after 2011 Q1 result announced = 0.051*1.3 = 0.0663, estimate highest/lowest PE = 43.89/30.17
JCY INTERNATIONAL BERHAD is a Malaysia-based company. It is a global manufacturer of hard disk drive (HDD) mechanical components. JCY manufactures base plates, top cover assembly, actuator pivot flex assembly (APFA) and antidiscs, which are the mechanical components of HDDs. The Company’s manufacturing facilities are located in the states of Johor, Penang and Malacca, in Malaysia, and in Saraburi, Thailand. The Company’s subsidiaries include JCY HDD Technology Sdn Bhd (JCY HDD Malaysia), JCY HDD Technology Pte Ltd (JCY HDD Singapore) and Minarex Holdings Limited (Minarex Holdings (Mauritius)).
BUY if MACD moving back to bullish trend and got very strong buying volume than selling
Comment
Revenue increased 11.3% but still lower than preceding quarter 7.3%, eps increased 182.7% and also higher than preceding quarter 204.9%, cash generated from operating not enough to cover financing expenses hence increased borrowings and spent 29.6% of Group cash to cover other expenses, slightly better liquidity ratio at low level now, slightly lower gearing ratio at moderate level now, all accounting ratio are good, higher inventory can indicate Group products demand improve, affect by weakening of USD against RM, benefit from improvement of average selling price
First Support Price
1.15
Second Support Price
1.0
Risk Rating
MODERATE
Research House
CIMB Target Price
1.54 (2012-01-05)
OSK Target Price
1.48 (2012-01-05)
HLG Target Price
1.33 (2012-02-09)
Accounting Ratio
Return on Equity
16.16%
Dividend Yield
1.64%
Profit Margin
29.08%
Tax Rate
0.08%
Asset Turnover
1.169
Net Asset Value Per Share
0.51
Net Tangible Asset per share
0.51
Price/Net Tangible Asset Per Share
2.76
Cash Per Share
0.03
Liquidity Current Ratio
1.7476
Liquidity Quick Ratio
1.1498
Liquidity Cash Ratio
0.1483
Gearing Debt to Equity Ratio
0.4631
Gearing Debt to Asset Ratio
0.3165
Working capital per thousand Ringgit sale
19.3%
Days to sell the inventory
62
Days to collect the receivables
93
Days to pay the payables
67
Technical Analysis
SMA 20
1.293 (Downtrend 1 day)
SMA 50
1.133 (Uptrend)
SMA 100
0.812 (Uptrend)
SMA 200
0.623 (Uptrend)
MACD (26d/12d)
0.019203 ( 0.004276 )
Signal (9)
0.039801 ( 0.005149 )
MACD Histogram
0.020598 (Bearish trend 11 days)
My notes based on 2012 quarter 1 report (number in '000):-
- Higher revenue and pbt due mainly to the better Average Selling Price("ASP") as a result of shortage in HDD mechanical components after the October 2011 Thailand floods and appreciating USD exchange rate coupled with effective products mix and continuing efficient cost management during the quarter under review
- Estimate next 4Q eps after 2012 Q1 result announced = 1047414*0.25/2044760 = 0.1281, estimate PE on current price 1.22 = 9.21(DPS 0.02)
- Estimate next 4Q eps after 2011 Q4 result announced = 0.0103*1.2*4 = 0.0494, estimate highest/lowest PE = 30.21/14.22 (DPS 0.0075)
- Estimate next 4Q eps after 2011 Q3 result announced = 0.0061*1.1*4 = 0.0268, estimate highest/lowest PE = 29.38/14.09 (DPS 0.0075)
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
DiGi.Com Berhad is a Malaysia-based investment holding company. The Company's wholly owned subsidiary, DiGi Telecommunications Sdn. Bhd. (DTSB), is engaged in the establishment, maintenance and provision of telecommunications and related services. Subsidiaries of DTSB include DiGi Services Sdn. Bhd., which is engaged in property holding, renting of premises and other related services, and Djuice.Com Sdn. Bhd., which is dormant. On February 10, 2009, the Company incorporated a wholly owned subsidiary, Pay By Mobile Sdn Bhd.
Not interested unless MACD moving back to uptrend and got very stronger buying volume than selling
Comment
Revenue increased 1.7% and is continuous increasing since FY09Q2 and also is highest all the time(higher than preceding year corresponding quarter 8.1%), eps increased 34.8% and was second consecutive quarter increasing and also higher than preceding year corresponding quarter 18.7%, cash generated from operating enough to cover all expenses, slightly higher liquidity ratio but still at weak level now, lower gearing rato but still at very high level now, payables ratio is high, maintaining very high ROE
First Support Price
3.95
Second Support Price
3.75
Risk Rating
MODERATE
Research House
BNP Paribas Target Price
3.07 (2011-05-04)
AMMB Target Price
2.74 (2011-07-15)
Kenanga Target Price
3.22 (2011-07-21)
TA Target Price
3.17 (2011-07-21)
CIMB Target Price
3.4 (2011-09-09)
HwangDBS Target Price
3.22 (2011-09-09)
UOB Target Price
3.39 (2011-10-14)
ECM Target Price
3.63 (2011-10-25)
HLG Target Price
3.17 (2012-01-20)
Maybank Target Price
3.74 (2012-01-20)
MIDF Target Price
4.35 (2012-01-20)
RHB Target Price
4.4 (2012-01-20)
OSK Target Price
4 (2012-02-23)
Accounting Ratio
Return on Equity
88.87%
Dividend Yield
29.20%
Profit Margin
25.19%
Tax Rate
-
Asset Turnover
1.2263
Net Asset Value Per Share
0.18
Net Tangible Asset per share
0.09
Price/Net Tangible Asset Per Share
43.11
Cash Per Share
0.14
Liquidity Current Ratio
0.6258
Liquidity Quick Ratio
0.5996
Liquidity Cash Ratio
0.4235
Gearing Debt to Equity Ratio
2.4457
Gearing Debt to Asset Ratio
0.7098
Working capital per thousand Ringgit sale
-16.3%
Days to sell the inventory
8
Days to collect the receivables
28
Days to pay the payables
270
Technical Analysis
SMA 20
3.998 (Uptrend 40 days)
SMA 50
3.832 (Uptrend)
SMA 100
2.391 (Uptrend)
SMA 200
-0.057 (Uptrend)
MACD (26d/12d)
0.06541 ( 0.006023 )
Signal (9)
0.089683 ( 0.006068 )
MACD Histogram
0.024273 (Bearish trend 58 days)
My notes based on 2011 quarter 4 report (number in '000):-
- Higher revenue due to revenue grew in mobile broadband/mobile internet
- Higher pat due to tax incentives related to mobile broadband network facilities
- Lower new added customer than FY11Q3 from 327k to 303k (prepaid: 287k to 264k, postpaid: 40k to 39k)
- Prepaid ARPU lower than FY11Q3 from RM43 to RM42
- Postpaid ARPU higher than FY11Q3 from RM85 to RM86
- Estimate next 4Q eps after 2011 Q4 result announced = 1411431*0.88/7775000 = 0.1598, estimate PE on current price 3.99 = 23.97(DPS 0.16)
- Estimate next 4Q eps after 2011 Q3 result announced = 0.42*4*1.05 = 1.764, estimate highest/lowest PE = 19.23/18.66 (DPS 1.48)
- Estimate next 4Q eps after 2011 Q2 result announced = 0.4262*4*1.05 = 1.79, estimate highest/lowest PE = 17.8/15.02 (DPS 1.72)
- Estimate next 4Q eps after 2011 Q1 result announced = 0.4262*4 = 1.7048, estimate highest/lowest PE = 16.6/15.31 (DPS 1.72)
- Estimate next 4Q eps after 2010 Q4 result announced = 1.5151*1.1 = 1.6666, estimate highest/lowest PE = 17.42/14.85 (DPS 1.63)
- Estimate next 4Q eps after 2010 Q3 result announced = 1.4051*1.1 = 1.5456, estimate highest/lowest PE = 15.11/12.46 (DPS 1.74)
- Estimate next 4Q eps after 2010 Q2 result announced = 1.3254*1.1 = 1.4579(10% grow from 1.3254), estimate highest/lowest PE = 15.85/13.04 (DPS 1.99)
- Estimate next 4Q eps after 2010 Q1 result announced = 1.3254(3% grow from 1.2868), estimate highest/lowest PE = 16.27/15.01 (DPS 2.13)
- Estimate next 4Q eps after 2009 Q4 result announced = 0.317*4 = 1.268, estimate highest/lowest PE = 17.21/15.82 (DPS 1.78)
- Estimate next 4Q eps after 2009 Q3 result announced = 0.3139*4 = 1.2556, estimate highest/lowest PE = 16.27/15.47 (DPS 1.77)
- Estimate next 4Q eps after 2009 Q2 result announced = 0.3016*4 = 1.2064, estimate highest/lowest PE = 17.12/16.21 (DPS 1.75)
- Estimate next 4Q eps after 2009 Q1 result announced = 0.3543*4 = 1.4172, estimate highest/lowest PE = 15.51/14.1 (DPS 1.62)
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
My notes based on 2011 quarter 4 report (number in '000):-
- Higher pbt mainly from Treasury & Investment and Foreign Banking segments
- The Group’s Malaysian Consumer Banking division PBT declined 24.1% Q-o-Q mainly due to a one off change in methodology in provisions for retail loans. CIB was 42.7% lower given the slower advisory activities in 4Q11 but Treasury and Investments was 73.3% higher due to a large gain on deconsolidation of investment in CIMB Aviva. CIMB Niaga’s PBT contribution was 3.5% lower Q-o-Q at RM390 million. GAM and Insurance PBT fell 5.6% to RM17 million. CIMB Thai’s PBT contribution (after GAAP adjustments) increased three-fold to RM49 million compared to 3Q11
- Estimate next 4Q eps after 2011 Q4 result announced = 27005917*0.15/7432772 = 0.545, estimate PE on current price 7.5 = 13.32(DPS 0.24)
- Estimate next 4Q eps after 2011 Q3 result announced = 0.4176*1.05 = 0.4385, estimate highest/lowest PE = 16.42/14.6 (DPS 0.24)
- Estimate next 4Q eps after 2011 Q2 result announced = 0.1305*0.8*4 = 0.4176(reduce 20% non-interest income due to market sluggish), estimate highest/lowest PE = 18.22/15.09 (DPS 0.26)
- Estimate next 4Q eps after 2011 Q1 result announced = 0.1097*4*1.1 = 0.4827(deduct RM160 million losses on loans, advance & financing), estimate highest/lowest PE = 18.29/15.66 (DPS 0.18)
- Estimate next 4Q eps after 2010 Q4 result announced = 0.49*1.05 = 0.5145, estimate highest/lowest PE = 15.86/14.69 (DPS 0.26)
- Estimate next 4Q eps after 2010 Q3 result announced = 0.1267*4*0.97 = 0.4916, estimate highest/lowest PE = 18.29/15.99 (DPS 0.18)
- Estimate next 4Q eps after 2010 Q2 result announced = 0.125*4*1.1 = 0.55, estimate highest/lowest PE = 15.42/13.78 (DPS 0.14)
- Estimate next 4Q eps after 2010 Q1 result announced = 0.2366*4*1.1 = 1.041(10% increase quarter-by-quarter), after bonus estimate eps = 1.041/2 = 0.5205, estimate highest/lowest PE = 15.19/12.46 (DPS 0.185/2 = 0.0925)
- Estimate next 4Q eps after 2009 Q4 result announced = 0.2268*4*1.1 = 0.9979, estimate highest/lowest PE = 14.67/12.5 (DPS 0.185)
- Estimate next 4Q eps after 2009 Q3 result announced = 0.2058*4*1.1 = 0.9055, estimate highest/lowest PE = 14.72/13.04 (DPS 0.25)
- Estimate next 4Q eps after 2009 Q2 result announced = 0.1879*4*1.1 = 0.8268, estimate highest/lowest PE = 15.59/11.73 (DPS 0.25)
My notes based on 2011 quarter 4 report (number in '000):-
- Higher revenue and pbt than FY10Q4 benefiting from both higher production of CPO and higher CPO prices
- Lower revenue and pbt than FY11Q3 mainly due to lower FFB & CPO productions and lower average CPO & PK prices
- Estimate next 4Q eps after 2011 Q3 result announced = 1174607*0.14/240544 = 0.6836, estimate PE on current price 4.76 = 6.65(DPS 0.215)
- Estimate next 4Q eps after 2011 Q3 result announced = 0.6207*1.1 = 0.6828, estimate highest/lowest PE = 6.87/4.79 (DPS 0.17)
- Estimate next 4Q eps after 2011 Q2 result announced = (0.1258+0.1354)*2*0.9 = 0.4702, estimate highest/lowest PE = 6.98/5.17 (DPS 0.17)
- Estimate next 4Q eps after 2011 Q1 result announced = 0.1258*0.85*4 = 0.4277, estimate highest/lowest PE = 7.13/5.96 (DPS 0.17)
- Estimate next 4Q eps after 2010 Q4 result announced = 0.4184*0.9 = 0.3766, estimate highest/lowest PE = 8.03/6.63 (DPS 0.135)
- Estimate next 4Q eps after 2010 Q3 result announced = 0.4, estimate highest/lowest PE = 8.23/5.75 (DPS 0.13)
- Estimate next 4Q eps after 2010 Q2 result announced = 0.0933*4 = 0.3732(0.0933 is average of eps in FY10Q1 and FY09Q4), estimate highest/lowest PE = 6.54/4.82 (DPS 0.13)
- Estimate next 4Q eps after 2010 Q1 result announced = 0.0889*4 = 0.3556, estimate highest/lowest PE = 6.52/4.16 (DPS 0.13)
- Estimate next 4Q eps after 2009 Q4 result announced = 0.2503*1.2 = 0.3004, estimate highest/lowest PE = 6.23/5.13 (DPS 0.13)
- Estimate next 4Q eps after 2009 Q3 result announced = (0.0923+0.0418+0.019)/3*4*1.2 = 0.245, estimate highest/lowest PE = 6.37/5.51 (DPS 0.14)
ZHULIAN CORPORATION BERHAD is a Malaysia-based investment holding company. The subsidiaries of the Company are Zhulian Jewellery Manufacturing Sdn. Bhd. engaged in manufacturing of costume and fine jewelry; Zhulian Marketing (M) Sdn. Bhd. engaged in direct marketing of costume jewellery and consumer products; Zhulian Industries Sdn. Bhd. engaged in manufacturing of consumer products; Beyond Products Technology Sdn. Bhd. engaged in the manufacturing of water treatment system and its related products; Zhulian Manufacturing Sdn. Bhd. engaged in the manufacturing of bedroom apparels and therapeutic products; Master Square Sdn. Bhd. engaged in trading of consumer products; Zhulian Printing Industries Sdn. Bhd. engaged in the printing of brochures, leaflets, catalogues, name cards and other related documents; Zhulian Management Sdn. Bhd. engaged in providing management services and investment holding, and Zhulian Development Sdn. Bhd. engaged in property development.
Revenue decreased 5.4% and was second consecutive quarter decreasing but still higher than preceding year corresponding quarter 2.3%, eps increased 18.3% and was second consecutive quarter increasing and also higher than preceding year corresponding quarter 18.6%, cash generated from operating enough to cover financing expenses but still spent 2.9% of Group cash for investing expenses, stronger liquidity ratio from high to strong level now, lower gearing ratio at low level now, all accounting ratio are good, higher inventory can indicate higher demand of products, affecting by weakening of USD dollar against Ringgit
First Support Price
1.85
Second Support Price
1.65
Risk Rating
MODERATE
Research House
HwangDBS Target Price
2.5 (2011-02-09)
ZJ Target Price
2.4 (2012-01-26)
Accounting Ratio
Return on Equity
24.29%
Dividend Yield
6.45%
Profit Margin
40.25%
Tax Rate
17.61%
Asset Turnover
0.8013
Net Asset Value Per Share
0.85
Net Tangible Asset per share
0.85
Price/Net Tangible Asset Per Share
2.22
Cash Per Share
0.28
Liquidity Current Ratio
4.5495
Liquidity Quick Ratio
3.5766
Liquidity Cash Ratio
2.5461
Gearing Debt to Equity Ratio
0.1373
Gearing Debt to Asset Ratio
0.1207
Working capital per thousand Ringgit sale
49.8%
Days to sell the inventory
64
Days to collect the receivables
50
Days to pay the payables
60
Technical Analysis
SMA 20
1.894 (Downtrend 1 day)
SMA 50
1.805 (Uptrend)
SMA 100
1.715 (Uptrend)
SMA 200
1.668 (Uptrend)
MACD (26d/12d)
0.012482 ( 0.002225 )
Signal (9)
0.021825 ( 0.002336 )
MACD Histogram
0.009343 (Bearish trend 13 days)
My notes based on 2011 quarter 4 report (number in '000):-
- Lower revenue than FY11Q3 mainly due to a drop in the local market demand however got higher pbt due mainly to contributed by increase in share of profit of equity accounted investee as well as the strengthening of USD against Ringgit Malaysia
- Estimate next 4Q eps after 2011 Q4 result announced = 392351*0.24/460000 = 0.2047, estimate PE on current price 1.86 = 8.02(DPS 0.12)
- Estimate next 4Q eps after 2011 Q3 result announced = (0.0529+0.0457)*2*1.1 = 0.2169, estimate highest/lowest PE = 8.25/7.05 (DPS 0.12)
- Estimate next 4Q eps after 2011 Q2 result announced = (0.0457+0.0478)*2*1.05 = 0.1964, estimate highest/lowest PE = 8.55/7.03 (DPS 0.12)
- Estimate next 4Q eps after 2011 Q1 result announced = 0.0478*4 = 0.1912, estimate highest/lowest PE = 8.73/8.16 (DPS 0.12)
- Estimate next 4Q eps after 2010 Q4 result announced = 0.0959*2*1.05 = 0.2014, estimate highest/lowest PE = 8.44/7.6 (DPS 0.12)
- Estimate next 4Q eps after 2010 Q3 result announced = 0.0431*4*1.1 = 0.1896, estimate highest/lowest PE = 9.39/8.33 (DPS 0.12)
- Estimate next 4Q eps after 2010 Q2 result announced = 0.0522*4*1.1 = 0.2297, estimate highest/lowest PE = 8.66/7.23 (DPS 0.14)
- Estimate next 4Q eps after 2010 Q1 result announced = 0.072*4 = 0.288, estimate highest/lowest PE = 9.76/7.47 (DPS 0.14)
- Estimate next 4Q eps after 2009 Q4 result announced = 0.0715*4 = 0.286, estimate highest/lowest PE = 7.66/5.84 (DPS 0.14)
- Estimate next 4Q eps after 2009 Q3 result announced = 0.069*4 = 0.276, estimate highest/lowest PE = 6.38/5.04 (DPS 0.12)
- Estimate next 4Q eps after 2009 Q2 result announced = 0.0484*4 = 0.1936, estimate highest/lowest PE = 9.35/6.56 (DPS 0.12)
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
