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Friday, March 30, 2012

KLCI Stock - UMCCA / 2593 - 2012 Quarter 3

UNITED MALACCA BHD

My notes based on 2012 quarter 3 report (number in '000):-
- Higher revenue and pbt than FY11Q3 mainly due to higher FFB production as well as higher investment income offset by lower crude palm oil ("CPO") and palm kernel ("PK") prices by 4% and 28% respectively

- Lower revenue and pbt than FY12Q2 mainly as a result of lower FFB production as well as lower oil extraction rate ("OER") due to wet weather

- Estimate next 4Q eps after 2012 Q3 result announced = 1043164*0.09/202765 = 0.463, estimate PE on current price 7.4 = 15.42(DPS 0.26)
- Estimate next 4Q eps after 2012 Q2 result announced = (0.1156*3+0.1426)*1.05 = 0.5139, estimate highest/lowest PE = 14.06/12.41 (DPS 0.275)
- Estimate next 4Q eps after 2012 Q1 result announced = 0.1426*4*0.9 = 0.5134, estimate highest/lowest PE = 12.66/11.2 (DPS 0.25)
- Estimate next 4Q eps after 2011 Q4 result announced = 0.1125*4 = 0.45, estimate highest/lowest PE = 15.27/12.89 (DPS 0.25)

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UMCCA latest news (Chinese)



KLCI Stock - KELADI / 6769 - 2012 Quarter 4

KELADI MAJU BERHAD

My notes based on 2012 quarter 4 report (number in '000):-
- Higher pbt from Property development division than FY11Q4 due to higher profit margin generated from the property sold despite dropped in volume

- Lower pbt from Cultivation of oil palm division mainly due to increase in the estate expenditures incurred for replanting activity

- Higher revenue and pbt from Property development division than FY12Q3 mainly due to completion of our on-going phases of Taman Lagenda

- Estimate next 4Q eps after 2012 Q4 result announced = 198954*0.075/758310 = 0.0197, estimate PE on current price 0.19 = 9.39(DPS 0.005)
- Estimate next 4Q eps after 2012 Q3 result announced = 0.0047*4 = 0.0188, estimate highest/lowest PE = 10.37/8.51 (DPS 0.015)
- Estimate next 4Q eps after 2012 Q2 result announced = 0.025(recent 4th qrt cum_eps), estimate highest/lowest PE = 7.8/5.6 (DPS 0.015)
- Estimate next 4Q eps after 2012 Q1 result announced = 0.0227, estimate highest/lowest PE = 8.15/6.89 (DPS 0.015)
- Estimate next 4Q eps after 2011 Q4 result announced = (0.0212+0.018)/2 = 0.0196, estimate highest/lowest PE = 9.44/8.16 (DPS 0.015)
- Estimate next 4Q eps after 2011 Q3 result announced = 0.017(recent 4 quarters eps), estimate highest/lowest PE = 12.06/9.41 (DPS 0.01)
- Estimate next 4Q eps after 2011 Q2 result announced = 0.0178*0.9 = 0.016, estimate highest/lowest PE = 12.19/9.06 (DPS 0.01)
- Estimate next 4Q eps after 2011 Q1 result announced = 0.0178 (based on last year), estimate highest/lowest PE = 8.99/7.87 (DPS 0.01)
- Estimate next 4Q eps after 2010 Q4 result announced = 0.0155 (13% drop from 0.0178), estimate highest/lowest PE = 10/9.03 (DPS 0.01)
- Estimate next 4Q eps after 2010 Q3 result announced = (0.0218+0.0289+0.019)/3 = 0.0232, estimate highest/lowest PE = 6.9/5.6 (DPS 0.015)
- Estimate next 4Q eps after 2010 Q2 result announced = 0.0031*4 = 0.0124, estimate highest/lowest PE = 12.5/10.48 (DPS 0.015)
- Estimate next 4Q eps after 2010 Q1 result announced = 0.0042*4 = 0.0168, estimate highest/lowest PE = 9.52/7.74 (DPS 0.015)
- Estimate next 4Q eps after 2009 Q4 result announced = 0.0031*4 = 0.0124, estimate highest/lowest PE = 14.11/8.06 (DPS 0.015)

KELADI latest news (English)

KELADI latest news (Chinese)




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



KLCI Stock - HAIO / 7668 - 2012 Quarter 3

HAI-O ENTERPRISE BERHAD

My notes based on 2012 quarter 3 report (number in '000):-
- Higher revenue and pbt mainly due to higher contribution from its principal subsidiary, the multilevel marketing (“MLM”) division and higher rental income and lower R&D costs from other division

- Despite lower revenue in the wholesale division, higher profit in the current quarter was generated from its higher sales in high margin products. The retail division has no significant changes in its revenue and pre-tax profit, as the division has rationalised its unprofitable outlets and concurrently also opened more new outlets to tap into a wider market

- The profit in the MLM mainly attributable to higher sales from its main and new products, coupled with effective incentive trip campaign. The MLM division has seen its performance improving since the second quarter and the Group believes with the continuous effort in enhancing its existing marketing strategies and intensified members’ recruitment efforts, the MLM division’s growth momentum is sustainable

- Estimate next 4Q eps after 2012 Q3 result announced = 222172*0.16/199318 = 0.1783, estimate PE on current price 2.18 = 11.81(DPS 0.075)
- Estimate next 4Q eps after 2012 Q2 result announced = 0.0394*4*1.1 = 0.1734, estimate highest/lowest PE = 13.52/9.95 (DPS 0.075)
- Estimate next 4Q eps after 2012 Q1 result announced = 0.0387*4*1.05 = 0.1625, estimate highest/lowest PE = 11.72/9.38 (DPS 0.075)
- Estimate next 4Q eps after 2011 Q4 result announced = (0.0428+0.0318)*2*1.05 = 0.1567, estimate highest/lowest PE = 13.37/9.41 (DPS 0.075)
- Estimate next 4Q eps after 2011 Q3 result announced = 0.0318*4*1.05 = 0.1336, estimate highest/lowest PE = 17.33/14.93 (DPS 0.075)
- Estimate next 4Q eps after 2011 Q2 result announced = 0.0307*4*0.95 = 0.1167, estimate highest/lowest PE = 23.91/18.25 (DPS 0.1)
- Estimate next 4Q eps after 2011 Q1 result announced = 0.0391*4 = 0.1564, estimate highest/lowest PE = 20.01/17.46 (DPS 0.12)
- Estimate next 4Q eps after 2010 Q4 result announced = 0.0714*4 = 0.2856*1.1(10% QbQ improvement adjustment) = 0.3142, estimate highest/lowest PE = 12.16/8.78 (DPS 0.2)
- Estimate next 4Q eps after 2010 Q3 result announced = 0.3729, estimate highest/lowest PE = 12.42/9.17 (DPS 0.18)
- Estimate next 4Q eps after 2010 Q2 result announced = 0.2424*4 = 0.9696, estimate highest/lowest PE = 10.78/7.44(DPS 0.42)
- Estimate next 4Q eps after 2010 Q1 result announced = 0.2217*4 = 0.8868, estimate highest/lowest PE = 8.54/6.33 (DPS 0.42)
- Estimate next 4Q eps after 2009 Q4 result announced = 0.1778*4 = 0.7112, estimate highest/lowest PE = 7.44/5.76 (DPS 0.4)
- Estimate next 4Q eps after 2009 Q3 result announced = 0.1463*4 = 0.5852, estimate highest/lowest PE = 6.9/5.06 (DPS 0.4)

HAIO latest news (English)

HAIO latest news (Chinese)




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



Thursday, March 29, 2012

KLCI Stock - GAMUDA / 5398 - 2012 Quarter 2

GAMUDA BERHAD

My notes based on 2012 quarter 2 report (number in '000):-
- The increase in profit before taxation from construction division due to higher work progress from the Electrified Double Tracking Project

- The increase in profit before taxation from property division due to higher profits from existing projects in Malaysia and Celadon City’s land sale to Aeon Co. of Japan

- Estimate next 4Q eps after 2012 Q2 result announced = 4045187*0.145/2123909 = 0.2762, estimate PE on current price 3.59 = 12.56(DPS 0.12)
- Estimate next 4Q eps after 2012 Q1 result announced = (0.0626+0.0585)*2 = 0.2422, estimate highest/lowest PE = 15.77/12.1 (DPS 0.12)
- Estimate next 4Q eps after 2011 Q4 result announced = (0.0542+0.0585)*2 = 0.2254, estimate highest/lowest PE = 14.86/11.85 (DPS 0.12)
- Estimate next 4Q eps after 2011 Q3 result announced = 0.177*1.1 = 0.1947, estimate highest/lowest PE = 19.77/12.89 (DPS 0.12)
- Estimate next 4Q eps after 2011 Q2 result announced = 0.0439*4*1.05 = 0.1844, estimate highest/lowest PE = 20.77/18.71 (DPS 0.12)
- Estimate next 4Q eps after 2011 Q1 result announced = 0.0789*2*1.05 = 0.1657, estimate highest/lowest PE = 24.98/20.64 (DPS 0.12)
- Estimate next 4Q eps after 2010 Q4 result announced = 0.0371*4*1.1 = 0.1632, estimate highest/lowest PE = 23.84/20.47 (DPS 0.12)
- Estimate next 4Q eps after 2010 Q3 result announced = 0.0361*4 = 0.1444, estimate highest/lowest PE = 26.73/20.78 (DPS 0.12)
- Estimate next 4Q eps after 2010 Q2 result announced = 0.0336*4 = 0.1344, estimate highest/lowest PE = 23.14/19.2 (DPS 0.12)
- Estimate next 4Q eps after 2010 Q1 result announced = 0.0311*4 = 0.1244, estimate highest/lowest PE = 22.83/19.77 (DPS 0.12)
- Estimate next 4Q eps after 2009 Q4 result announced = 0.0215*4 = 0.086, estimate highest/lowest PE = 38.02/30.81 (DPS 0.08)
- Estimate next 4Q eps after 2009 Q3 result announced = 0.0231*4 = 0.0924, estimate highest/lowest PE = 36.36/27.81 (DPS 0.08)
- Estimate next 4Q eps after 2009 Q2 result announced = 0.0244*4 = 0.0976, estimate highest/lowest PE = 28.59/19.26 (DPS 0.08)

GAMUDA latest news (English)

GAMUDA latest news (Chinese)



KLCI Stock - PETGAS / 6033 - 2011 Quarter 7

Company Info
Market Capital (Capital Size)33,163,546,895 (Very Large)
Par ValueRM 1.00

My Analysis
Forecast P/E now(16.76-0.5)/0.7208 = 22.56 (Moderate)
Target Price16.58+0.5 = 17.08 (PE 23.0, EPS 0.7208, DPS 0.5)
DecisionNot interested unless MACD moving up from very low and buying volume is a lot stronger than selling volume
Comment
Revenue decreased 0.7% and but higher than preceding year corresponding quarter 3.2%, eps decreased 1.8% and was second consecutive quarter decreasing and also lower than preceding year corresponding quarter 14.1%, cash generated from operating enough for financing expenses but investing expenses still spent 11% of Group cash, gross profit margin decreasing, lower liquidity ratio but still at very strong level now, slightly higher gearing ratio at below moderate level now, debt ratio increasing near to recent year high, all accounting repayment period is good, affecting by higher cost of revenue
First Support Price16.0
Second Support Price15.0
Risk RatingMODERATE

Research House
Maybank Target Price14.1 (2010-12-01)
TA Target Price14.2 (2011-02-23)
ECM Target Price14.14 (2011-08-18)
Maybank Target Price7.5 (2011-11-24)
RHB Target Price16.39 (2012-01-09)
AMMB Target Price17.62 (2012-02-02)
HwangDBS Target Price18.5 (2012-02-23)
MIDF Target Price16.5 (2012-02-23)
OSK Target Price17 (2012-02-23)
CIMB Target Price18.49 (2012-03-26)

Accounting Ratio
Return on Equity12.51%
Dividend Yield2.98%
Gross Profit Margin48.42%
Operating Profit Margin46.31%
Net Profit Margin50.43%
Tax Rate25.96%
Asset Turnover0.3402
Net Asset Value Per Share4.32
Net Tangible Asset per share4.32
Price/Net Tangible Asset Per Share3.82
Cash Per Share1.32
Liquidity Current Ratio5.2232
Liquidity Quick Ratio5.0508
Liquidity Cash Ratio4.4004
Gearing Debt to Equity Ratio0.2457
Gearing Debt to Asset Ratio0.1957
Working capital per thousand Ringgit sale68.6%
Days to sell the inventory20
Days to collect the receivables39
Days to pay the payables86

Technical Analysis
SMA 2016.671 (Downtrend 1 day)
SMA 5016.276 (Uptrend)
SMA 10014.968 (Uptrend)
SMA 20013.819 (Uptrend)
MACD (26d/12d)0.114513 ( 0.000838 )
Signal (9)0.126314 ( 0.00295 )
MACD Histogram0.011801 (Bearish trend 27 days)

My notes based on 2011 quarter 7 report (number in '000):-
- Higher revenue than FY11Q3 mainly due to higher gas processing revenue and utilities sales but lower pbt mainly due to higher cost of revenue(increase in repair and maintenance cost and staff cost)

- Higher pbt than FY11Q6 mainly due to higher other income resulting from unrealised gain from the revaluation of Currency Exchange Agreement (CEA) and retranslation of term loan

- Estimate next 4Q eps after 2011 Q7 result announced = 8643921*0.165/1978732 = 0.7208, estimate PE on current price 16.76 = 22.56(DPS 0.5)
- Estimate next 4Q eps after 2011 Q6 result announced = (0.1954+0.177)*2 = 0.7448, estimate highest/lowest PE = 22.82/16.68 (DPS 0.5)
- Estimate next 4Q eps after 2011 Q5 result announced = 0.1954*4 = 0.7816, estimate highest/lowest PE = 18.14/15.1 (DPS 0.5)
- Estimate next 4Q eps after 2011 Q4 result announced = 0.1348*4 = 0.5392, estimate highest/lowest PE = 25.04/19.84 (DPS 0.5)
- Estimate next 4Q eps after 2011 Q2 result announced = 0.6266, estimate highest/lowest PE = 17.65/16.41 (DPS 0.5)
- Estimate next 4Q eps after 2011 Q1 result announced = 0.5331*0.95 = 0.5064, estimate highest/lowest PE = 25.63/19.31 (DPS 0.5)
- Estimate next 4Q eps after 2010 Q4 result announced = 0.4612(3% dropped from 0.4755), estimate highest/lowest PE = 21.47/19.8 (DPS 0.5)
- Estimate next 4Q eps after 2010 Q3 result announced = 0.5(0.37+0.13), estimate highest/lowest PE = 19.2/18.12 (DPS 0.5)
- Estimate next 4Q eps after 2010 Q2 result announced = 0.47, estimate highest/lowest PE = 20.21/19.26 (DPS 0.5)
- Estimate next 4Q eps after 2010 Q1 result announced = 0.47, estimate highest/lowest PE = 20.21/19.47 (DPS 0.5)
- Estimate next 4Q eps after 2009 Q4 result announced = 0.47, estimate highest/lowest PE = 21.06/19.15 (DPS 0.5)
- Estimate next 4Q eps after 2009 Q3 result announced = 0.47, estimate highest/lowest PE = 20.21/18.94 (DPS 0.05)

PETGAS latest news (English)

PETGAS latest news (Chinese)



Tuesday, March 27, 2012

KLCI Stock - FAVCO / 7229 - 2011 Quarter 4

Company Info
Market Capital (Capital Size)256,208,838 (Small)
Par ValueRM 0.50

My Analysis
Forecast P/E now(1.43-0.06)/0.2777 = 4.93 (Moderate)
Target Price2.22+0.06 = 2.28 (PE 8.0, EPS 0.2777, DPS 0.06)
DecisionBUY if MACD back to uptrend and got strong buying volume than selling
Comment
Revenue increased 67.7% and also higher than preceding year corresponding quarter 81%, eps increased 28.1% and was third consecutive quarter increasing and also higher than preceding year corresponding quarter 94.9%, cash generated from operating is more than enough to cover all expenses, better gross and operating profit margin, slightly better liquidity ratio at low level now, slightly lower gearing ratio but still at very high level now, all accounting ratio also high, lower debt ratio at historical low, higher inventory can indicate better demand of Group products
First Support Price1.35
Second Support Price1.25
Risk RatingMODERATE

Research House
CIMB Target Price1.23 (2011-11-24)

Accounting Ratio
Return on Equity19.71%
Dividend Yield4.20%
Gross Profit Margin26.58%
Operating Profit Margin15.44%
Net Profit Margin12.82%
Tax Rate13.29%
Asset Turnover0.712
Net Asset Value Per Share1.31
Net Tangible Asset per share1.27
Price/Net Tangible Asset Per Share0.98
Cash Per Share0.63
Liquidity Current Ratio1.3117
Liquidity Quick Ratio0.6004
Liquidity Cash Ratio0.2683
Gearing Debt to Equity Ratio1.8483
Gearing Debt to Asset Ratio0.6455
Working capital per thousand Ringgit sale27.5%
Days to sell the inventory293
Days to collect the receivables197
Days to pay the payables208

Technical Analysis
SMA 201.43 (Uptrend 23 days)
SMA 501.346 (Uptrend)
SMA 1001.274 (Uptrend)
SMA 2001.247 (Same)
MACD (26d/12d)0.024385 ( 0.001364 )
Signal (9)0.030348 ( 0.001491 )
MACD Histogram0.005963 (Bearish trend 6 days)

My notes based on 2011 quarter 4 report (number in '000):-
- Higher revenue and pbt mainly due to increase in sales from crane segment which due to global recovery in investment in equipment and good execution of several high margin projects

- As at 16 February 2012, outstanding order book of the group is RM657.7 million of which majority is from the oil and gas cranes for the offshore oil and gas exploration and production activities. Remaining are from the shipyard, construction and wind turbine industry

- Estimate next 4Q eps after 2011 Q4 result announced = 241502*0.21/182623 = 0.2777, estimate PE on current price 1.43 = 4.93(DPS 0.05)
- Estimate next 4Q eps after 2011 Q3 result announced = 0.2047*0.8 = 0.1638, estimate highest/lowest PE = 8.12/6.84 (DPS 0.05)
- Estimate next 4Q eps after 2011 Q2 result announced = 0.0955*1.2 = 0.1146, estimate highest/lowest PE = 11.08/6.94 (DPS 0.05)
- Estimate next 4Q eps after 2011 Q1 result announced = 0.0217*4*1.1 = 0.0955(lower down estimate due to previous high profit was from other income), estimate highest/lowest PE = 18.43/10.99 (DPS 0.05)
- Estimate next 4Q eps after 2011 Q3 result announced = 0.1362, estimate highest/lowest PE = 10.5/7.05 (DPS 0.04)
- Estimate next 4Q eps after 2011 Q2 result announced = 0.1602*0.85 = 0.1362(450 million equal to 15% decrease from 2009 Q4 cum_eps), estimate highest/lowest PE = 8.37/5.58 (DPS 0.04)
- Estimate next 4Q eps after 2010 Q1 result announced = 0.1442*0.7 = 0.1009 (30% drop from 0.1442, revenue drop and margin expect will not increase much), estimate highest/lowest PE = 8.42/7.04 (DPS 0.04)
- Estimate next 4Q eps after 2009 Q4 result announced = 0.1442(10% drop from 0.1602, revenue drop and margin expect will not increase much), estimate highest/lowest PE = 6.93/4.92 (DPS 0.04)
- Estimate next 4Q eps after 2009 Q3 result announced = 0.1442, estimate highest/lowest PE = 5.76/4.99 (DPS 0.025)
- Estimate next 4Q eps after 2009 Q2 result announced = 0.1442, estimate highest/lowest PE = 6.45/5.49 (DPS 0.025)
- Estimate next 4Q eps after 2009 Q1 result announced = 0.1442, estimate highest/lowest PE = 8.11/5.72 (DPS 0.025)

FAVCO latest news (English)

FAVCO latest news (Chinese)



Sunday, March 25, 2012

KLCI Stock - GTRONIC / 7022 - 2011 Quarter 4


Company Info 
Market Capital (Capital Size)292,023,251 (Small)
Par ValueRM 0.50

My Analysis 
Forecast P/E now(1.09-0.045)/0.0925 = 11.30 (High)
Target Price0.83+0.045 = 0.88 (PE 9.0, EPS 0.0925, DPS 0.045)
DecisionNot interested unless MACD can strongly sustain in bullish trend or wait until moving up from very bearish trend
Comment
Revenue decreased 18.1% and also lower than preceding year corresponding quarter 21.1%, eps decreased 35.2% and also lower than preceding year corresponding quarter 31.9%, cash generated from operating is more than enough to cover all expenses, gross profit margin maintaining high, stronger liquidity ratio from moderate to high level now, lower gearing ratio at below moderate level now, debt ratio near to historical low, all accounting ratio are good, inventory increased but still consider low
First Support Price1.0
Second Support Price0.9
Risk RatingHIGH

Research House
MIDF Target Price1.05 (2012-02-23)

Accounting Ratio 
Return on Equity10.83%
Dividend Yield5.96%
Gross Profit Margin22.00%
Operating Profit Margin8.71%
Net Profit Margin9.84%
Tax Rate11.90%
Asset Turnover0.8909
Net Asset Value Per Share0.92
Net Tangible Asset per share0.92
Price/Net Tangible Asset Per Share1.04
Cash Per Share0.37
Liquidity Current Ratio3.2971
Liquidity Quick Ratio3.0322
Liquidity Cash Ratio2.1733
Gearing Debt to Equity Ratio0.2072
Gearing Debt to Asset Ratio0.1716
Working capital per thousand Ringgit sale39.5%
Days to sell the inventory21
Days to collect the receivables54
Days to pay the payables66

Technical Analysis 
SMA 201.002 (Uptrend 8 days)
SMA 500.965 (Uptrend)
SMA 1000.905 (Uptrend)
SMA 2000.894 (Uptrend)
MACD (26d/12d)0.036036 ( 0.001574 )
Signal (9)0.024674 ( 0.002841 )
MACD Histogram0.011362 (Bullish trend 8 days)

My notes based on 2011 quarter 4 report (number in '000):-
- Lower revenue and pbt mainly attributed to a weaker overall demand and the lower economy of scale achieved. In addition, an impairment charge of RM1.5 million was incurred on certain plant and machineries of which are expected to go end of life by Quarter 2,2012

- Estimate next 4Q eps after 2011 Q4 result announced = 246430*0.1/266508 = 0.0925, estimate PE on current price 1.09 = 11.3(DPS 0.045)
- Estimate next 4Q eps after 2011 Q3 result announced = 0.029*4*1.05 = 0.1218, estimate highest/lowest PE = 8.09/6.03 (DPS 0.065)
- Estimate next 4Q eps after 2011 Q2 result announced = 0.0282*3*1.05+0.0241*1.05 = 0.1141, estimate highest/lowest PE = 8.46/6.88 (DPS 0.045)
- Estimate next 4Q eps after 2011 Q1 result announced = 0.1139*1.1 = 0.1253, estimate highest/lowest PE = 7.53/7.05 (DPS 0.0965)
- Estimate next 4Q eps after 2010 Q4 result announced = 0.0326*4 = 0.1304(no decrease due to high tax expenses), estimate highest/lowest PE = 8.46/6.85 (DPS 0.0965)
- Estimate next 4Q eps after 2010 Q3 result announced = 0.0326*4 = 0.1304, estimate highest/lowest PE = 8.97/7.67 (DPS 0.09)
- Estimate next 4Q eps after 2010 Q2 result announced = 0.026*4 = 0.104(0.026 is average of latest recent quarter), estimate highest/lowest PE = 13.94/8.94 (DPS 0.09)
- Estimate next 4Q eps after 2010 Q1 result announced = 0.0904+0.0007+(0.0911*0.05) = 0.0957(adjustment from 0.0233-0.0226 and 5% grow adjustment), estimate highest/lowest PE = 16.61/12.85 (DPS 0.08)
- Estimate next 4Q eps after 2009 Q4 result announced = 0.0226*4 = 0.0904, estimate highest/lowest PE = 18.36/9.07 (DPS 0.07)
- Estimate next 4Q eps after 2009 Q3 result announced = 0.0183*4 = 0.0732, estimate highest/lowest PE = 15.64/8.74 (DPS 0.055)
- Estimate next 4Q eps after 2009 Q2 result announced = 0.0137*4 = 0.0548, estimate highest/lowest PE = 15.78/13.05 (DPS 0.025)

GTRONIC latest news (English)

GTRONIC latest news (Chinese)



KLCI Stock - P&O / 6009 - 2012 Quarter 1

PACIFIC & ORIENT BERHAD

Company Description
PACIFIC & ORIENT BERHAD is a Malaysia-based investment holding company. The Company is also engaged in the provision of management services. The Company has four segments: insurance, information technology, investment holding, and money lending. Other segments include distribution of consumer goods, provision of sales and administrative services, and provision of management and privilege card programme services. The Company's subsidiaries include Pacific and Orient Insurance Co. Berhad, engaged in general insurance business; P and O Technologies Sdn. Bhd., offers information technology services and equipments; Pacific and Orient Distribution Sdn. Bhd., is engaged in distribution of consumer goods and provision of sales and administrative services; P and O Capital Sdn. Bhd., is engaged in money lending, and P and O Technologies Sdn. Bhd., deals in computer hardware, software and systems.

Company Info 
Listing Date1995-05-18
Market Capital (Capital Size)237,295,430 (Small)
Par ValueRM 0.50
BoardMain
SectorFinance
Major IndustryUnderwriting of General Insurance
Sub IndustryInformation Technology Related Services
Websitehttp://www.pacific-orient.com/

My Analysis 
Forecast P/E now(0.965-0.083)/0.1336 = 6.60 (Moderate)
Target Price1.07+0.083 = 1.15 (PE 8.0, EPS 0.1336, DPS 0.083)
DecisionBUY if stock price go up follow with upper Bolinger band open or wait until stock price moving up from very low Bolinger band point
Comment
Revenue decreased 7.9% but higher than preceding year corresponding quarter 5.3%, eps decreased 94.8% and was second consecutive quarter decreasing and also lower than preceding year corresponding quarter 92.2%, no cash generated from operating due to placement of deposit and this move together other expenses total spent 88.5% of Group cash, largely decreased operating profit, stronger liquidity ratio at strong level now, high reinsurance assets which could turn into high revenue, insurance division affected by high claim
First Support Price0.093
Second Support Price0.88
Risk RatingMODERATE

Accounting Ratio 
Return on Equity19.18%
Dividend Yield6.01%
Gross Profit Margin0.00%
Operating Profit Margin3.40%
Net Profit Margin2.46%
Tax Rate74.71%
Asset Turnover0.52
Net Asset Value Per Share0.89
Net Tangible Asset per share0.88
Price/Net Tangible Asset Per Share1.22
Cash Per Share2.46
Liquidity Current Ratio6.7012
Liquidity Quick Ratio5.3783
Liquidity Cash Ratio4.3818
Gearing Debt to Equity Ratio3.705
Gearing Debt to Asset Ratio0.7875
Working capital per thousand Ringgit sale147.0%
Days to sell the inventory137
Days to collect the receivables94
Days to pay the payables24

Technical Analysis 
SMA 200.952 (Uptrend 2 days)
SMA 500.945 (Uptrend)
SMA 1000.842 (Uptrend)
SMA 2000.747 (Uptrend)
MACD (26d/12d)0.005241 ( 6.2e-005 )
Signal (9)0.005244 ( 1e-006 )
MACD Histogram0.000003 (Bearish trend 1 day)

My notes based on 2012 quarter 1 report (number in '000):-
- Higher revenue than FY11Q1 mainly due to higher gross premium recorded but lower pbt mainly attributable to higher net claims incurred which includes the share of losses incurred by the Malaysian Motor Insurance Pool

- Lower revenue than FY11Q4 mainly attributable to lower gross premium recorded and lower pbt is same as above reason and higher staff costs and unrealised foreign exchange loss in IT segment

- Estimate next 4Q eps after 2012 Q1 result announced = 218854*0.15/245714 = 0.1336, estimate PE on current price 0.965 = 6.6(DPS 0.056)
- Estimate next 4Q eps after 2011 Q4 result announced = 0.0595*4 = 0.238, estimate highest/lowest PE = 4.51/2.96 (DPS 0.056)
- Estimate next 4Q eps after 2011 Q3 result announced = (0.0368+0.0658)*2*0.75 = 0.1539, estimate highest/lowest PE = 4.96/4.12 (DPS 0.056)
- Estimate next 4Q eps after 2011 Q2 result announced = 0.0368*4*0.9 = 0.1325, estimate highest/lowest PE = 6.18/5.24 (DPS 0.006)
- Estimate next 4Q eps after 2011 Q1 result announced = 0.0277*4 = 0.1108(ROE 3.5% per quarter), estimate highest/lowest PE = 8.66/6.35 (DPS 0.006)
- Estimate next 4Q eps after 2010 Q4 result announced = 0.05*4/2 = 0.1(ROE 3.5% per quarter), estimate highest/lowest PE = 9.6/7.7

P&O latest news (English)

P&O 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
2012-02-2220121N/AN/A0.00800.34%0.34%120855120855297329737527520.00310.00311029719810865-2188545192721012459064521375226168032457142457142629132011-12-31-3.40%2.46%74.71%0.52-0.890.881.222.466.70125.37834.38183.7050.7875147.0%1379424
2011-11-25201141.130.76-6.86%23.21%131213529294199446927914621494590.05950.20181028892815814-213078551202066393150501553268605591062458912451241844182011-09-30-15.11%15.20%26.69%0.51443.71710.870.860.872.486.54555.24924.31273.82870.7929148.1%1439127
2011-08-23201130.820.690.057.50%16.13%129350398081225464933516184348380.06580.14231033356817440-2159166730522173384477667526585810822459532448681869242011-06-30-18.44%17.43%28.22%0.4997-0.880.870.872.515.91684.81824.02943.78590.7911145.8%1378532
2011-05-31201120.8250.7-4.48%9.24%15400126873112814267899048186540.03680.07631029381827556-2018256688516473553476967049650417352459532443261955322011-03-31-9.14%8.32%29.39%0.4826-0.830.810.982.515.91374.79894.0784.10040.8039149.6%1418037
2011-02-16201110.9650.710.00604.99%4.99%1147301147301397513975960696060.03960.0396994732802065-19266747870279746505274786831878824052428532428532124962010-12-31-12.63%12.18%31.26%0.4801-0.790.781.122.555.04834.23473.63784.1630.8063144.2%1197849
2010-11-30201040.960.77-5.95%11.36%118309478358258974127610620202750.09240.1828902913724365-17854838685424964221027391092946750494114945110889890822010-09-30-20.75%21.89%58.99%0.52984.23871.611.590.494.777.396.18275.39084.0570.8023135.9%966141
2010-08-20201031.280.775-6.88%6.00%10970136004915395153791107296550.09920.0881870090709091-1609995586545107861236050411582734671115671095581372272010-06-30-14.60%14.03%28.08%0.5354-1.471.440.850.070.3680.36010.03874.40430.815-26.8%150115
2010-05-25201021.290.585-2.23%0.97%134834250348522816324714170.02990.0131853447707900-1455474207484114301236137231515327921086551085541325592010-03-31-4.37%3.88%37.89%0.5224-1.341.320.920.070.59810.57850.09314.86370.8295-7.7%13428
2010-02-24201011.571.14-15.17%15.17%115514115514274952749521352213520.19690.1969820677679899-1407783000808807123742920117276471084521084521258042009-12-31-23.18%23.80%-0.515-1.31.270.910.110.74510.7210.16254.82960.8285-4.3%13414
2009-11-26200941.21.04-2.82%9.15%105831392494480255814613149470.04290.1408792253628908-1633454242138816931354128541161123801075261061681161282009-09-30-0.16%0.45%-0.49547.67121.541.510.720.120.66750.64250.17833.85020.7938-6.1%23118
2009-08-26200931.120.97-15.41%11.73%89632286663345892606125697195600.24280.1850771295604509-16678658251116486135424709422393191058301057161111212009-06-30-32.39%38.59%25.71%0.4991-1.581.550.680.120.6270.59980.16913.62450.7838-7.3%23117
2009-05-29200921.070.9-1.80%4.40%11163719703135848528251061370.02380.0581743172603542-139630263426710881354123671279122621053231056581063762009-03-31-3.84%3.21%29.97%0.5062-1.321.290.780.130.64220.61440.16774.32240.8121-7.5%23419
2009-02-13200911.030.92-10.90%10.90%8539485394207712077115141151410.14280.1428714515575572-13894330901844381352231081330148521059941059941081132008-12-31-23.18%24.32%-0.5032-1.311.280.80.140.77220.74460.18384.14250.8055-5.2%24721
2008-11-27200841.060.93-5.02%23.06%983143372126932371647104326170.06670.3057694768553343-1414251154360745897181109366347135281065031066861128932008-09-30-6.05%7.05%-0.4854-1.331.30.820.130.79260.76370.17313.91260.7964-4.8%25025
2008-08-25200831.280.88-6.07%16.99%8081823889810914302329124255130.08550.2390688850538644-1502063624476185371404100224748931067181067461312632008-06-30-12.35%13.50%-0.4536-1.411.380.890.070.82190.79080.08823.5860.7819-4.6%36722
2008-05-23200821.421.180.018758.31%10.12%94998158080169651931813460163890.12470.1535670503508497-16200656445125337172113242047521079121067611510762008-03-31-16.85%17.86%-0.4386-1.521.490.940.070.86180.82020.10133.13880.7584-3.5%36623
2008-02-21200811.471.31-1.66%1.66%630826308223532353292929290.02770.0277649221472372-1768492800197403372462603143058161056101056101531342007-12-31-2.49%3.73%-0.4046-1.671.650.880.060.86540.82110.10182.6710.7276-3.2%36319
2007-11-29200741.551.3-9.37%1.77%7354825687216994107911712932360.16190.0309650143467404-1827391001828781330776401289641172291057681048641523052007-09-30-21.71%23.11%-0.395146.66381.741.710.840.070.83570.78990.11722.55780.7189-3.9%45918
2007-08-27200731.521.390.03753.91%10.09%6243418332411788277857889203650.07430.1933644256442374-201882853614381212776579974215355041061191053571443212007-06-30-15.83%18.88%33.08%0.2846-1.921.890.720.060.86460.8160.10592.19130.6866-4.4%68121
2007-05-2820072N/AN/A0.03750.67%6.28%63585120890392159971339124760.01260.1188627363428809-1985541391524215238764113673156560761062561050161763842007-03-31-0.58%0.62%-N/A-1.891.870.890.060.94770.89530.11242.15970.6835N/A-N/AN/A
2007-02-2820071N/AN/A0.03755.55%5.55%5730557305163891638911137111370.10730.1073635150434451-200699237971255675812450500625751037861037861660572006-12-31-23.03%28.60%32.05%N/A-1.931.920.830.040.77160.73040.06572.16470.684N/A-N/AN/A

Financial Quarter Balance Sheet
yearqrtDeferred tax assets (A-0)Goodwill on consolidation (A-0)Intangible assets (A-0)Investment properties (A-0)Other investments (A-0)Prepaid lease payments (A-0)Property, plant and equipment (A-0)Cash and cash equivalents (A-1)Current asset classified as held for sales (A-1)Deposits with licensed banks (A-1)Insurance receivables (A-1)Inventories (A-1)Loans (A-1)Other receivables (A-1)Reinsurance assets (A-1)Trade receivables (A-1)Insurance contract liabilities (L-0)Current tax liabilities (L-1)Hire purchase liabilities (L-1)Insurance payables (L-1)Loans & borrowings (L-1)Other payables (L-1)Provision for taxation (L-1)Trade and other payables (L-1)
201215896193580560575263321200058679-596094110891781169256531818078156728468027183321261975939277-28
2011460481935734605741383222004759106-550410109385791245215941824041128674485-1596234329664889891064717
201134957193572860598510323202607211-6098189710591725922538167303887664310-17302836010060488651353734
2011247401935765605106202324206135746-610877886421125268189461674421151676348-186832890989299784768849
2011159301935805605105492325205776110-61293482477114728117841137309964631897-1690469561033158873930727
2010458161935825605120692326207575730-542804619551209292168881216381441622611-1631400384420410725510353
20103144481935756605759041327201716951-713-156430423129-40146511261-1069-476329888-139241
20102177071935753605760335328205057273-710-168131524238-17062622165-1063-510259388-24259
20101198711935817605723568329208177547-3954-171133021454-17739609128-1050-538549485-6382
20094132431935868605706242330212528446-4319-178934118233-14650557333-1165-521359813-8462
20093196881935877605680071331207316758-5931-204135214942-17033529461-1078-56371912978463
20092293551935892605638685332207457242-5978-219036213484-21367524713-1229-552088590170112101
20091286321935940605597634333209817085-8022-226837317222-28485493395-1382-57055777194315026
20084252931935993595588919334147657060-6468-225139517730-28030475198-1542-51550907894215033
20083223451935937585580886335151774863-2289-25211421919287-23471457548-1699-597598267-11371
20082216391935978585566292336145394832-2715-30931395117590-22018434000-1099-52945778455412115
20081179731935912585557982337149943852-2558-27901368317287-14333409390-1130-4799467912276840
20074184951935967585561042338152355014-2215-28261341617323-10752405724-1059-476507369-5602
20073229151935103544155042041215439386315502463-29061300918842-9026382628-992-4846351722824837
20072253161935-60052946541318444500717791062-28281275019780-7984374794-1032-41019537822004386
20071272531935-603534042415207184177-94-26801849316440-8300369415-1126-49196491841975599

Financial Quarter Income Statement
yearqrtRevenueIncome tax expenseFinance/interest costsOther incomeAdministrative/Operating expenses
20121120855222113004999121581
201141312135323141410154120009
2011312935063621355243105692
2011215400137661346838140679
201111147304369602654100807
20104118309152776559631101388
20103109701432364416693828
201021348341981678236129164
201011155146143655256142610
2009410583141336574648110302
200938963288926781925173616
2009211163710747952482109740
20091853945630855520105830
20084983141729161078105408
2008380818179085065091532
200829499835057851048112226
200816308257676381865490
2007473548135778116290926
200736243438996991643266379
20072635851731792509268277
200715730552527661719957349

Financial Quarter Segments Revenue
yearqrtOthersElimination/AdjustmentInvestment holdingInsuranceInformation technologyMoney Lending
2012193480823581197453467-
20114-3147728883129913380094
20113-49432321128371350695
20112-1255710124152995334891
2011123369953113607343998
20104-3445878116635414497
20103-33507151081394095102
20102-27671041132727374192
2010123644855114897333272
2009453417801104582379763
20093-291979488344337340
20092-3142990110403334145
2009112948258882298341243
20084-37521827951624839238
20083-2871986788813502320
20082-2593992936132669317
2008191330411660616832720314
20074-25921931708433056310
20073-2517889612162540306
20072-1923317536615483425309
20071928461965551592719299

Financial Quarter Segments Profit
yearqrtOthersElimination/AdjustmentInvestment holdingInsuranceInformation technologyMoney Lending
2012140185418484281496-
201146268792316023136380153
201137711597424526102153
201128840979351407179520
20111926117981624979769
2010463557767830246111469
201031030112061716531869
2010211269051412317746349
201011027327115925619231
200946159781659212724961
2009323119141537685990134
20092483091054301253136
200914724196110840116520
20084463194586910649128
200834445369565872553261
20082514761644130392094143
200815411389906835032882146
200742213591932137722042175
20073138197981155331957210
2007211716494152054268238877
2007114928578421300291316

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



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