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Saturday, July 28, 2012

KLCI Stock - TENAGA / 5347 - 2012 Quarter 3


Company Info 
Market Capital (Capital Size)37,342,946,575 (Very Large)
Par ValueRM 1.00

My Analysis 
Forecast P/E now(6.82-0.109)/0.4556 = 14.73 (Moderate)
Target Price6.83+0.109 = 6.94 (PE 15.0, EPS 0.4556, DPS 0.109)
DecisionBUY if stock price strong sustain above 6.86 or wait rebound at lower price as long as continue uptrend above SMA50
Comment
Revenue increased 6.5% and also higher than preceding year corresponding quarter 18.3%, eps decreased 78% but turnover from loss than preceding year corresponding quarter 240.6%, cash generated from operating enough to cover financing expenses and still got more than enough cash generated from financing to cover all other expenses, lower liquidity ratio but still indicate good financial strength, higher gearing ratio but was better financial leverage compared to recent year, all collection/repayment is good, benefit from lower operating expenses due to coal price decreasing and reduced in use of alternative fuels, affecting by strengthening of USD and Yen against Ringgit
First Support Price6.6
Second Support Price6.5
Risk RatingMODERATE

Research House
Jupiter Target Price6.84 (2012-03-13)
RHB Target Price7.6 (2012-04-12)
MIDF Target Price7.5 (2012-04-13)
ZJ Target Price7.2 (2012-04-23)
Alliance Target Price8.05 (2012-07-20)
AMMB Target Price7.98 (2012-07-20)
CIMB Target Price7.98 (2012-07-20)
HLG Target Price8.3 (2012-07-20)
HwangDBS Target Price7 (2012-07-20)
Kenanga Target Price7.9 (2012-07-20)
Maybank Target Price7.9 (2012-07-20)
OSK Target Price7.57 (2012-07-20)
TA Target Price8.32 (2012-07-20)

Accounting Ratio 
Return on Equity8.30%
Dividend Yield1.60%
Gross Profit Margin0.00%
Operating Profit Margin11.81%
Net Profit Margin9.89%
Tax Rate30.54%
Asset Turnover0.4087
Net Asset Value Per Share6.48
Net Tangible Asset per share6.48
Price/Net Tangible Asset Per Share1.04
Cash Per Share1.67
Liquidity Current Ratio2.5121
Liquidity Quick Ratio2.2056
Liquidity Cash Ratio1.0257
Gearing Debt to Equity Ratio1.4586
Gearing Debt to Asset Ratio0.5922
Working capital per thousand Ringgit sale37.6%
Days to sell the inventory32
Days to collect the receivables107
Days to pay the payables79

Technical Analysis 
SMA 206.719 (Uptrend 3 days)
SMA 506.604 (Uptrend)
SMA 1006.51 (Uptrend)
SMA 2006.138 (Uptrend)
MACD (26d/12d)0.049083 ( 0.003394 )
Signal (9)0.044387 ( 0.001174 )
MACD Histogram0.004696 (Bullish trend 3 days)
Bolinger Upper Band6.915
Bolinger Lower Band6.523

My notes based on 2012 quarter 3 report (number in '000):-
- Higher revenue mainly due to an increase in sales of electricity in Peninsular Malaysia and the tariff increase of 7.1% on 1 June 2011

- Higher pbt than FY11Q3 mainly due to the alternate fuel cost differential compensation of RM2,823.8 million offset by strengthening of Japanese Yen and the US Dollar against Ringgit Malaysia resulted in a translation loss of RM533.1 million as compared to a gain of RM60.0 million

- Lower pbt than FY12Q2 mainly due to the weakening Ringgit in Q3 FY2012, compared to the US Dollar and Japanese Yen resulted foreign translation loss of RM533.1 million as compared to RM628.4 million of gain in FY12Q2 although received RM777.8 million compensation compared to RM367.4 million in FY12Q2

- Estimate next 4Q eps after 2012 Q3 result announced = 35554200*0.07/5462133 = 0.4556, estimate PE on current price 6.82 = 14.73(DPS 0.109)
- Estimate next 4Q eps after 2012 Q2 result announced = 35162500*0.1/5457914 = 0.6442, estimate highest/lowest PE = 10.32/9.16 (DPS 0.2)
- Estimate next 4Q eps after 2012 Q1 result announced = 30044200*0.08/5456669 = 0.4405(ROE 8%), estimate highest/lowest PE = 15.15/13.2 (DPS 0.045)
- Price moving after 2011 Q4 result announced mainly base on technical analysis and ad-hos news, however if based on average eps of FY11Q1 & FY11Q2 and higher tariff, 4Q eps = 0.4424*1.2 = 0.5309, estimate highest/lowest PE = 11.97/9.97 (DPS 0.045)
- Price moving after 2011 Q3 result announced mainly base on technical analysis and ad-hos news, however if based on average eps of FY11Q1 & FY11Q2, 4Q eps = 0.1229*4*0.9 = 0.4424, estimate highest/lowest PE = 14.18/10.61 (DPS 0.195)
- Estimate next 4Q eps after 2011 Q2 result announced = (0.1415+0.163)*2*1.05 = 0.6395, estimate highest/lowest PE = 10.96/9.01 (DPS 0.2)
- Estimate next 4Q eps after 2011 Q1 result announced = 0.7355*0.8 = 0.5884, estimate highest/lowest PE = 10.74/9.74 (DPS 0.21)
- Estimate next 4Q eps after 2010 Q4 result announced = 0.089*4 = 0.356, estimate highest/lowest PE = 24.21/21.88 (DPS 0.26)
- Estimate next 4Q eps after 2010 Q3 result announced = 0.71*1.05 = 0.7455 (5% increase adjustment), estimate highest/lowest PE = 12.22/11.21 (DPS 0.183)
- Estimate next 4Q eps after 2010 Q2 result announced = 0.2066+0.1859+0.1673+0.1506 = 0.71 (average 10% drop each quarter, coal price increasing but strong Ringgit offset some impact), estimate highest/lowest PE = 12.14/11.01 (DPS 0.183)
- Estimate next 4Q eps after 2010 Q1 result announced = 0.6484, estimate highest/lowest PE = 13.38/11.67 (DPS 0.163)

Coal price chart
- http://www.mongabay.com/images/commodities/charts/chart-coalaust.html
- http://www.globalcoal.com/

MYR/JPY chart

TENAGA latest news (English)

TENAGA latest news (Chinese)



Sunday, July 22, 2012

KLCI Stock - INGRESS / 7112 - 2013 Quarter 1

INGRESS CORPORATION BERHAD



Company Description
INGRESS CORPORATION BERHAD is a Malaysia-based company engaged in investment holding and the provision of management services. The Company operates in two segments: automotive components manufacturing, and power engineering and railway electrification. Some of the activities of its subsidiaries include the manufacture and supply of automotive door assemblies (door-in-white), and manufactures and assembles medium to high tonnage press parts; manufacture of automotive components; manufacture and supply of roll-formed plastic moldings and weather-strips, wire-harness and provision of management services; provision of engineering services for the power and utility industry, and the provision of engineering services in the field of computer aided design, manufactures tools, jigs and dies and undertakes comprehensive product development work. In July 2008, the Company subscribed for additional shares in Ingress CES Sdn Bhd (ICES), which increased its holding in ICES to 70%.

Company Info 
Listing Date2001-03-09
Market Capital (Capital Size)117,316,000 (Small)
Par ValueRM 1.00
BoardMain
SectorIndustrial Products
Major IndustryAutomotive Components & Premium Dealership
Sub IndustryPower Engineering & Projects
Websitehttp://www.ingresscorp.com.my/

My Analysis 
Forecast P/E now(1.39-0.04)/0.3214 = 4.20 (Moderate)
Target Price1.61+0.04 = 1.65 (PE 5.0, EPS 0.3214, DPS 0.04)
DecisionBUY if stock price continue strong sustain above SMA20
Comment
Revenue increased 25% and also higher than preceding year corresponding quarter 9.3%, eps increased 7.4% but lower than preceding year corresponding quarter 7.3%, cash generated from operating enough to cover financing expenses and together with cash from borrowings enough to cover all investing expenses, gross margin still good at above 15%, slightly weaker liquidity ratio but is almost all strong time, lower gearing ratio but still at high level now, lower debt ratio at recent year low, all collection/repayment period is good, automotive division still very high profit
First Support Price1.22
Second Support Price1.1
Risk RatingMODERATE

Research House
Jupiter Target Price1.2 (2012-04-27)

Accounting Ratio 
Return on Equity10.24%
Dividend Yield2.88%
Gross Profit Margin15.13%
Operating Profit Margin7.53%
Net Profit Margin5.37%
Tax Rate12.44%
Asset Turnover1.1157
Net Asset Value Per Share2.37
Net Tangible Asset per share2.34
Price/Net Tangible Asset Per Share0.52
Cash Per Share1.06
Liquidity Current Ratio1.2224
Liquidity Quick Ratio1.0148
Liquidity Cash Ratio0.3576
Gearing Debt to Equity Ratio1.6979
Gearing Debt to Asset Ratio0.5564
Working capital per thousand Ringgit sale8.2%
Days to sell the inventory32
Days to collect the receivables87
Days to pay the payables73

Technical Analysis 
SMA 201.228 (Uptrend 28 days)
SMA 501.092 (Uptrend)
SMA 1001.027 (Uptrend)
SMA 2000.893 (Uptrend)
MACD (26d/12d)0.076477 ( 0.004088 )
Signal (9)0.061249 ( 0.003807 )
MACD Histogram0.015228 (Bullish trend 32 days)
Bolinger Upper Band1.477
Bolinger Lower Band0.979

My notes based on 2013 quarter 1 report (number in '000):-
- Higher revenue and pbt mainly due to recovery on volumes for Thailand operation subsequent to the floodd saster apart from impairment made in the immediate preceeding quarter in respect of inventories and construction costs on certain projects

- Estimate next 4Q eps after 2013 Q1 result announced = 271277*0.1/84400 = 0.3214, estimate PE on current price 1.39 = 4.2 (DPS 0.04)
- Estimate next 4Q eps after 2012 Q4 result announced = 251808*0.1/76800 = 0.3279, estimate highest/lowest PE = 3.69/2.85
- Estimate next 4Q eps after 2012 Q3 result announced = 247826*1.025*0.09/76800 = 0.2977(ROE 9%), estimate highest/lowest PE = 3.8/3.14
- Estimate next 4Q eps after 2012 Q2 result announced = 0.0228*4*1.05 = 0.0958(if deduct additional RM2 million MI), estimate highest/lowest PE = 8.72/7.36
- Estimate next 4Q eps after 2012 Q1 result announced = 0.1151*1.05 = 0.1209(exclude RM4.7 million other income), estimate highest/lowest PE = 8.6/5.75
- Estimate next 4Q eps after 2011 Q4 result announced = 0.0274*4*1.05 = 0.1151, estimate highest/lowest PE = 7.86/6.47
- Estimate next 4Q eps after 2011 Q3 result announced = 0.0272*4*1.05 = 0.1142, estimate highest/lowest PE = 7.36/5.95
- Estimate next 4Q eps after 2011 Q2 result announced = 0.1288*1.05 = 0.1352, estimate highest/lowest PE = 6.62/5.18
- Estimate next 4Q eps after 2011 Q1 result announced = 0.0322*4 = 0.1288(0.0322 is eps after exclude 8 million from other income), estimate highest/lowest PE = 7.41/4.81
- Estimate next 4Q eps after 2010 Q4 result announced = 0.0346*4 = 0.1384, estimate highest/lowest PE = 4.99/3.76
- Estimate next 4Q eps after 2010 Q3 result announced = 0.0357*4 = 0.1428, estimate highest/lowest PE = 5.67/4.1
- Estimate next 4Q eps after 2010 Q2 result announced = 0.023*4 = 0.092, estimate highest/lowest PE = 9.24/3.53

INGRESS latest news (English)

INGRESS 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
2012-06-2720131N/AN/A0.042.81%2.81%1914141914141028210282707570750.08380.08386114973402207089727127739290275174441417721177373324910484400844001021242012-04-3015.13%7.53%5.37%12.44%1.1157-2.372.340.521.061.22241.01480.35761.69790.55648.2%328773
2012-03-20201241.210.935-2.70%10.57%153093665905818269085991234170.07800.3049588080336272693142518081716392038386406517960426402257680076800744962012-01-314.51%3.07%0.53%-1.13233.18132.382.330.421.051.26371.04590.33631.84260.57189.5%349366
2011-12-20201231.130.725-3.04%7.87%15967251281210154260906734174260.08770.226959199634417073631247826305522804355654211025093056390547680076800541442011-10-3119.85%8.78%6.36%5.27%1.1375-2.272.220.320.991.20650.95290.32311.97580.58147.2%398069
2011-09-27201220.8350.705-1.69%4.83%1780733531405362159363751106920.04880.1392592145353669704222384762824226679328429761984310515324617680076800599042011-07-3115.30%4.82%3.01%11.71%1.1988-2.192.140.360.841.16540.92310.27092.10450.59735.6%357964
2011-06-28201211.040.695-3.13%3.13%1750671750671057410574694169410.09040.090457944534523671493234209215249272744305970797353357067680076800599042011-04-3018.35%8.11%6.04%1.59%1.2553-2.122.080.370.841.21070.97390.28522.12170.59586.5%327766
2011-03-23201140.9050.745-0.23%7.89%160602732697193229063454154840.00590.2016593236371681677922215551037324859835441694810859125047419957680076800560642011-01-3113.38%3.12%1.20%-1.23513.62082.01.960.370.951.12960.94740.29582.41720.62654.4%267675
2010-12-21201130.840.68-1.07%7.66%1961155720956107271312090150300.02720.195761209638955766313222539703592079256376155199115134775502947680076800576002010-10-3114.26%4.92%3.11%12.51%1.2026-2.031.990.381.071.14040.9120.32032.49350.63644.9%347575
2010-09-27201120.8950.7-1.26%6.60%1955663759805746210242470129400.03220.168562606342036553921205698280782501937591114925309715506269987680076800706562010-07-3114.59%5.59%2.94%24.61%1.1157-1.981.930.480.831.06980.83280.22582.76960.67142.8%428982
2010-06-22201110.9550.62-5.34%5.34%180414180414152781527810470104700.13630.13636446594401165351020454313180114791477140072465923182371897680076800437762010-04-3015.53%11.90%8.47%9.52%1.0558-1.971.910.30.910.78390.58850.17462.9140.6827-12.8%508378
2010-03-24201040.690.52-1.71%7.00%1640286518616302214232657108960.03460.1419660701464499514031962027206636159212956063590714612140067680076800476162010-01-3116.46%5.75%3.84%-0.98664.371.891.830.340.590.65170.50040.10133.20790.703-23.9%449397
2009-12-15201030.810.585-3.02%5.29%158469487833811415121470082380.06120.10736410044718434600716916121247105287238337710719348168587680076800503042009-10-3115.90%7.33%5.12%20.48%0.9894-1.61.520.430.450.71840.55840.07493.83130.7361-20.4%4512892
2009-09-04201020.850.325-1.89%2.27%17768932936454797005295135360.03840.0460639055477376439241616793197355765763377360693635597680076800257282009-07-3114.09%6.00%3.08%13.76%0.9883-1.531.450.230.370.69950.55710.06194.0540.747-21.9%4113293
2009-06-30201010.4350.22-0.38%0.38%151676151676152715275875870.00760.00766584495020384210615641115555840015467337723955848851117680076800145922009-04-3011.61%3.83%1.01%42.96%0.9254-1.491.420.130.360.64510.47610.05814.39210.7625-28.0%5312099
2009-03-27200940.2250.14-24.65%19.92%146354569551621014243650501408100.65760.5314660139504373418541557663653235048599778901484451333777680076800168962009-01-3118.98%37.75%42.43%-0.8627-1.481.420.150.40.67950.50720.06434.42770.764-26.8%58135123
2008-12-24200930.30.19-0.60%4.72%155858423167461119637122496630.01590.1258705681486327507502193545628959321165057890303219537116477680076800176642008-10-3118.83%6.18%2.96%32.60%0.7527-2.22.120.110.430.61450.44040.07292.88440.6892-32.5%65113124
2008-09-16200920.4150.18-2.39%4.12%155408267313846215024489484370.06370.109968500447232148380212683449522185026961789023102385940317680076800311042008-07-3118.40%8.62%5.45%19.26%0.7219-2.142.060.20.570.60530.4780.10062.87470.6895-34.6%49121118
2008-06-19200910.6450.36-1.73%1.73%11190511190565626562354335430.04610.04616521614439004719420826124575167961366378907779588420067680076800330242008-04-3017.59%7.67%5.86%17.56%0.679-2.12.020.210.470.56130.44640.08852.7560.6807-40.7%46121112
2008-03-27200840.610.335-2.47%5.04%1079673988637177141915553113440.07230.1477634718429871457802048474608542597164142081634881292678907680076800430082008-01-3113.90%1.81%6.65%-0.6284-2.071.990.280.460.56030.48370.09122.70250.6773-43.0%32140102
2007-12-17200830.730.45-0.34%2.57%119214290895425701377157910.01000.07546697204529794835321674112130311792728320816190498234290507680076800537602008-10-3114.73%1.70%0.36%-0.5576-2.192.170.320.81.07740.92150.24782.69010.67645.1%4316395
2007-09-20200820.80.65-2.04%2.23%10369917168149766588458450200.05970.0654662220437975498882242452151318782895220816273111683324997680076800652802007-07-3116.65%0.00%4.80%-0.3839-2.272.240.380.771.09570.94270.27042.51190.66148.3%55212131
2007-06-2120081N/AN/A-0.19%0.19%6798267982161216124364360.00570.005760716540309744531204068267815816417420816131388964118527680076800721922007-04-3014.05%4.94%2.37%-0.2479-2.082.040.460.41.13280.96830.16812.52670.663916.0%80351183
2007-03-2620074N/AN/A0.04N/AN/A825643587761236612211155358610.15040.07636385694133834730322518680527741353678364996936115683208167680076800806402007-01-315.52%15.19%14.98%-0.1293-2.322.270.460.631.18731.04080.26012.32390.647442.4%128645348

Financial Quarter Balance Sheet
yearqrtDeferred tax assets (A-0)Intangible assets (A-0)Investment in associated companies (A-0)Investment securities (A-0)Other investments (A-0)Prepaid lease payments (A-0)Property, plant and equipment (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)Finance lease receivables (A-1)Inventories (A-1)Other receivables (A-1)Trade receivables (A-1)Deferred tax liabilities (L-0)Loans & borrowings (L-0)Current tax liabilities (L-1)Dividend payable (L-1)Liabilities directly associated with assets classified as held for sale (L-1)Loans & borrowings (L-1)Other payables (L-1)Trade and other payables (L-1)Minority interest (M-1)
201312619033067281100--259877865189554-12352201519954426511684243389386---132889592365827670897
201242647231755115100--239432993380860-17506447523886232710008143395401---137791426835996469314
201232698235275091100--271483-76270-1171-59864290781184305006103107111--130680331707209673631
201222702535915362100--278086-64615-1208-57809274061269435006110140111--133478360516888370422
201212727831194144100--271737-64320-2281-53425262441267975006114693819--113748273598361171493
201142678935442820100--281172-7301672391312-44979267591255065006119861819-6426111262389968931167792
20113226123138644-10015755277162-82205-1492-58615247381256355027127884141--128707326899510966313
20112227863745--10015856280771-63909-1265-670873960713093750271323011670--148075408979239553921
201112320540311543-10017543283224-7015595992156-78515277431268455446328361338--278262313069092853510
2010423497423711124-10016264314306-4524695992144-6758030379136225502712678450--298171517749639951403
201032227462739880-10025616246532-34421---7360498574123730-12059885--309171632458648346007
201022330063999630-10025910251204-28551---65664109870118427-163141280--3101243829311136543924
2010123265491910577-10025858283474-27937---8128786111114921-21091825--3283284444410735042106
2009423676505210630-10025940271580-30599---8196798579112016-287941814--2993316743610699841854
2009319646614910838-10026197367351-32673---7802327926136778313378621931--296855643428502450750
2009220423610110901-10026453358800-43573---5515329827133673313387981855--297412629697097448380
2009121143621011110-10022357360854-36305---471653430611261131333138967--295151424497188247194
200842150860888131-10022450357695-35621---298822507012817331339128954--294304436135155945780
200832497719017024-10022279346189-61458---38665342741328535542043651455--161902339105079348353
200822797925634385-10013481372791-59460---3362933312114520460521348712113072-135563296705036749888
200811057131088644-10019535360110-30432---297783397211091582132138261424--111310274474087744531
200742989332906431-10019589357310-48618---273994026210567782132182351336--111155406853375947303

Financial Quarter Income Statement
yearqrtRevenueIncome tax expenseCost of salesFinance/interest costsOther incomeAdministrative/Operating expensesMinority interestShare of profit/ (loss) of associates
20131191414127916245938113068176011928329
2012415309350641461923820392494144810964
2012315967253512798336031636193092885259
20122178073628150834343628518932983206
2012117506716814294735075972238963465115
20114160602236013910638904103205923838815
201131961157641681434118182181493253584
201121955661414167025407266162421718621122
201111804141454152388445992191577033541738
2010416402842613703652733501791340712146
20103158469166213326937581280148581752250
2010217768975415265642291055154331774947
20101151676656134067422215691337628453
20094146354348517413066484369318388115208
2009315585815031265164954115018565188462
20092155408163012680847221406166131938209
20091111905115292218500131251422718672978
200841079672361929566336114170747371108
20083119214541016525091745162792922638
20082103699138186436561762917892989641
2008167982686584305475374132864907223
2007482564935780086580190283612917486759

Financial Quarter Segments Revenue
yearqrtOthersElimination/AdjustmentAutomotivePower Engineering & Projects
201312904965518186916296
201246166124001500059323
20123266678071565408273
2012261661099115334429554
201212666744015840221439
2011459851045914557019506
2011336171405218100925541
2011233281479818957517461
201118791197217237219136
201049803842417361627856
20103623536514099517474
2010223131069416540720663
20101315520113101625546
200942645572313487814554
2009326451997015081122372
200922645533812940828693
20091264561799801017429
200841056264098801415800
20083598563648515234441
20082171538149207213726
200816673814687152414
200748005677777269715

Financial Quarter Segments Profit
yearqrtOthersElimination/AdjustmentAutomotivePower Engineering & Projects
201311043-14315935
201242436350092203455
201231303-14994325
20122322735008968103
20121647-150021453
201145057151267405278
20113754139072172
201121018215312553478
20111174459143157793
20104405-8707317
20103707-12189140
20102998200011272385
201011210-6202810
20094129492608425342370
200931341841103621240
200925911894122022494
200911707279110266597
20084190123741836490
20083107281023321578
20082149117993046244
20081161578553186428
200743103107173677584

Financial Quarter Segments Associate
yearqrtPower Engineering & Projects
20131329
2012464
20123259
20122206
20121115
20114815
20113584
201121122
201111738
201042146
20103250
20102947
2010153
20094208
2009362
20092209
200912978
200841108
200832638
20082641
200817223
200746759

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



Friday, July 20, 2012

KLCI Stock - ZHULIAN / 5131 - 2012 Quarter 1

Company Info
Market Capital (Capital Size)984,400,000 (Medium)
Par ValueRM 0.50

My Analysis
Forecast P/E now(2.14-0.12)/0.2474 = 8.16 (Moderate)
Target Price2.35+0.12 = 2.47 (PE 9.5, EPS 0.2474, DPS 0.12)
DecisionBUY if stock price continue strong sustain and uptrend above SMA20 while still bullish trend
Comment
Revenue increased 28.8% and also higher than preceding year corresponding quarter 29.8%, eps decreased 1.4% but higher than preceding year corresponding quarter 29.1%, cash generated from operating more than enough to cover all expenses, margin still maintaining above 20%, slightly weaker liquidity ratio but still at strong level now, higher gearing ratio but still at low level now, debt ratio still below 15%, all collection/repayment period is good, higher inventory can indicate demand of products still good, benefit from strengthening of USD dollar against Ringgit
First Support Price2.1
Second Support Price2.0
Risk RatingMODERATE

Research House
HwangDBS Target Price2.3 (2012-07-12)
ZJ Target Price2.7 (2012-07-13)

Accounting Ratio
Return on Equity28.30%
Dividend Yield5.61%
Gross Profit Margin0.00%
Operating Profit Margin21.17%
Net Profit Margin30.91%
Tax Rate17.90%
Asset Turnover0.8192
Net Asset Value Per Share0.88
Net Tangible Asset per share0.88
Price/Net Tangible Asset Per Share2.16
Cash Per Share0.29
Liquidity Current Ratio4.3002
Liquidity Quick Ratio3.4338
Liquidity Cash Ratio2.3063
Gearing Debt to Equity Ratio0.1509
Gearing Debt to Asset Ratio0.1311
Working capital per thousand Ringgit sale49.1%
Days to sell the inventory60
Days to collect the receivables59
Days to pay the payables61

Technical Analysis
SMA 202.075 (Uptrend 36 days)
SMA 502.01 (Uptrend)
SMA 1001.956 (Uptrend)
SMA 2001.826 (Uptrend)
MACD (26d/12d)0.043039 ( 0.001338 )
Signal (9)0.038827 ( 0.001053 )
MACD Histogram0.004212 (Bullish trend 13 days)
Bolinger Upper Band2.225
Bolinger Lower Band1.925

My notes based on 2012 quarter 1 report (number in '000):-
- Higher revenue due to increased export sales mainly to Thailand whilst the local sales also increased, mainly contributed by high demand for the food & beverage and nutritional products

- The increase in profit before tax than FY11Q1 was mainly contributed by the increase in revenue and share of profit of equity accounted investee, offset by the increase in exchange loss with the weakening of US Dollar and higher distribution expenses that were in line with the increase in sales

- Lower pbt than FY11Q4 mainly due to the change in sales mix, coupled with weakening of US Dollar

- Estimate next 4Q eps after 2012 Q1 result announced = 406438*0.28/460000 = 0.2474, estimate PE on current price 2.14 = 8.16(DPS 0.12)
- Estimate next 4Q eps after 2011 Q4 result announced = 392351*0.24/460000 = 0.2047, estimate highest/lowest PE = 9.23/8.4 (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)

ZHULIAN latest news (English)

ZHULIAN latest news (Chinese)



Wednesday, July 18, 2012

KLCI Stock - WASEONG / 5142 - 2012 Quarter 1

WAH SEONG CORPORATION BHD



Company Description
Wah Seong Corporation Berhad is engaged in investment holding and the provision of management services to subsidiaries. It operates in three segments: oil and gas; industrial services, and others. Its oil and gas segment include pipe-coating services for the oil and gas industry; fabrication and rental of gas compressors and process equipment; design, installation and commissioning of special tanks, pressure vessels and piping; manufacturing, supply and installation of sacrificial anodes; provision of cathode and corrosion protection services and marketing, and provision related services. Its industrial services segment include the marketing and distribution of building materials, installation services of metal roofing and manufacturing of spiral welded steel pipes for civil and water works. It is also engaged in processing equipment, manufacturing and distribution of replacement parts for palm oil mills and refineries, and the sale and services of turbines and equipment.

Company Info
Listing Date2002-07-09
Market Capital (Capital Size)1,542,026,710 (Large)
Par ValueRM 0.50
BoardMain
SectorIndustrial Products
Major IndustryOil & Gas Pipe-coating
Sub IndustryManufacturing of Mill & Biomass
Websitehttp://www.wahseong.com/

My Analysis
Forecast P/E now(1.99-0.06)/0.1199 = 16.10 (High)
Target Price1.92+0.06 = 1.98 (PE 16.0, EPS 0.1199, DPS 0.06)
DecisionNot interested unless stock price strong sustain above 2
Comment
Revenue decreased 6.3% and also lower than preceding year corresponding quarter 1.9%, eps decreased 8.7% and was fourth consecutive quarter decreasing (lower than preceding year corresponding quarter 59.1%), cash generated from operating enough to cover financing expenses and got borrowings to cover investing expenses, gross margin dropped below 15%, slightly weaker liquidity ratio at low level now, higher gearing ratio at high level now, debt ratio still as usual around 50%, all collection/repayment period is good
First Support Price1.9
Second Support Price1.79
Risk RatingMODERATE

Research House
MIDF Target Price2.28 (2012-02-23)
HwangDBS Target Price2.05 (2012-07-04)
Kenanga Target Price2.23 (2012-07-04)
Maybank Target Price2.4 (2012-07-04)
OSK Target Price2.06 (2012-07-04)
AMMB Target Price2.35 (2012-07-09)
CIMB Target Price2.52 (2012-07-13)

Accounting Ratio
Return on Equity8.07%
Dividend Yield3.02%
Gross Profit Margin13.50%
Operating Profit Margin6.60%
Net Profit Margin4.91%
Tax Rate-
Asset Turnover0.818
Net Asset Value Per Share1.29
Net Tangible Asset per share1.14
Price/Net Tangible Asset Per Share1.68
Cash Per Share0.75
Liquidity Current Ratio1.782
Liquidity Quick Ratio1.4648
Liquidity Cash Ratio0.6956
Gearing Debt to Equity Ratio1.2173
Gearing Debt to Asset Ratio0.5259
Working capital per thousand Ringgit sale34.7%
Days to sell the inventory63
Days to collect the receivables120
Days to pay the payables83

Technical Analysis
SMA 201.924 (Uptrend 14 days)
SMA 501.922 (Downtrend)
SMA 1001.974 (Same)
SMA 2001.989 (Same)
MACD (26d/12d)0.020952 ( 0.002232 )
Signal (9)0.010014 ( 0.002734 )
MACD Histogram0.010938 (Bullish trend 21 days)
Bolinger Upper Band2.029
Bolinger Lower Band1.819

My notes based on 2012 quarter 1 report (number in '000):-
- Lower revenue and pbt from Oil & Gas Segment than FY11Q1 was the result of lower margin projects

- Higher revenue and pbt from Renewable Energy Segment than FY11Q1 due to improving margins on new projects secured/executed

- Higher revenue and pbt from Industrial Trading & Services Segment than FY11Q1 due to the continued demand from the construction and infrastructure sectors in the country for services provided by this segment

- Estimate next 4Q eps after 2012 Q1 result announced = 1089600*0.085/772143 = 0.1199, estimate PE on current price 1.99 = 16.1(DPS 0.06)
- Estimate next 4Q eps after 2011 Q4 result announced = 1097692*0.09/774884 = 0.1275, estimate highest/lowest PE = 15.84/14.51 (DPS 0.06)
- Estimate next 4Q eps after 2011 Q3 result announced = 0.028*4*1.1 = 0.1232, estimate highest/lowest PE = 17.25/14.81 (DPS 0.055)
- Estimate next 4Q eps after 2011 Q2 result announced = 0.0338*4*1.05 = 0.142, estimate highest/lowest PE = 15.11/12.85 (DPS 0.055)
- Estimate next 4Q eps after 2011 Q1 result announced = (0.0563+0.032)*2 = 0.1766, estimate highest/lowest PE = 13.59/10.76 (DPS 0.05)

WASEONG latest news (English)

WASEONG 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
2012-05-3120121N/AN/A-1.62%1.62%481560481560236572365717784177840.02300.023022980751208475968721089600108175673573855857718340818226057944377214377214314747932012-03-3113.50%6.60%4.91%-0.818-1.291.141.680.751.7821.46480.69561.21730.525934.7%6312083
2012-02-22201142.081.910.031.88%10.61%514212188911133504173268195201103740.02520.14482295623119793193658109769213458024087461437278713698821160258438977488476234015497682011-12-3118.60%8.52%6.52%38.63%0.822913.81381.321.171.710.751.89931.54790.72271.19310.521838.5%6912474
2011-11-15201132.181.88-2.05%8.73%47884313748993667313976421293908540.02800.1198220380111245229284210792791262977389936237248813368614304851553675986975814215577312011-09-3021.34%8.69%7.66%19.45%0.8041-1.31.151.780.681.99261.62890.72581.140.510339.8%6712878
2011-08-25201122.21.880.032.52%6.69%4051588960563440910309126193695610.03380.090121415941049511113920109208312858212785072136493512730417802554296077486277232216582042011-06-3018.41%9.94%8.49%14.58%0.7658-1.271.121.910.72.12691.70560.85081.07290.490143.9%7411673
2011-05-11201112.451.95-4.17%4.17%490898490898686826868243368433680.05630.0563223697611443521229071092624114182599511119235797310818721937957735276970076970016779462011-03-3121.89%15.10%13.99%24.66%0.7173-1.261.121.950.752.05681.76040.81331.18010.511646.8%5913982
2011-02-17201042.291.970.0252.39%5.41%3972281523356352608615624768559810.03200.07352009711969473115052104023839586374809276545478621069065936412777488676170717899862010-12-3118.06%10.71%8.88%21.38%0.75831.43111.211.072.160.472.37871.90310.71491.04790.482446.3%7112972
2010-11-30201032.451.93-1.21%3.02%3467641126128188645089612488312130.01640.04121915992885903129628103008961869311101524964579243075912173733618776158075728215383912010-09-3017.66%7.54%5.44%42.66%0.8253-1.191.031.960.442.10231.58570.65670.98380.462436.0%7810668
2010-08-25201022.281.990.020.16%1.81%3697437793646444320321701187250.00220.02442028422966612158436106181045698130001403934624853269810769535479077488576842917822352010-06-3013.95%0.25%1.74%-0.8584-1.181.012.280.492.12691.60180.68941.070.476535.8%7810070
2010-05-31201012.522.05-1.65%1.65%409621409621384763847617024170240.02250.0225214907710962341645331052843391406355335494647213278576446395775617475617416711442010-03-3122.43%11.32%9.39%21.62%0.8949-1.171.012.190.621.95531.52430.70921.23410.510132.6%709769
2010-02-23200942.832.140.033.65%12.72%455070195030870149245782348401213220.04500.15982206735117216314895610345723583101333896071918625422492128564047189477487275920317977032009-12-3129.08%17.59%15.41%28.48%0.883814.5181.170.992.340.611.95471.52240.70241.32360.531232.9%719976
2009-11-19200932.452.29-3.25%9.07%50677914952386533817563331023864820.04000.1145212390910210602304761102849194807583861030221848961364213339921829577488775562118674772009-09-3022.77%14.24%12.89%8.08%0.9765-1.150.972.480.281.58211.16460.28441.17040.480721.6%7211577
2009-08-28200922.482.090.0253.12%5.81%5518389884595526911029529735554590.03840.07242227955118069520414110472606077254790712218933359821310420243777488176624616504962009-06-3020.39%11.78%10.02%14.29%0.9962-1.10.922.320.271.47221.0270.23921.40040.529918.8%8011179
2009-05-29200912.191.7-2.70%2.70%436621436621550265502625724257240.03400.0340224330212144951884241028807709874283110667192060281563882323088375650575650513692742009-03-3121.51%15.06%12.60%11.61%1.0116-1.110.931.950.311.48551.04960.25871.44520.541419.1%7611083
2009-02-26200841.941.090.036.18%19.22%578738234319440895152913371881155960.05040.156821295941175840162588953754115303208909393963116914324212697511866657371527371528256102008-12-3120.19%8.13%7.07%5.45%1.10037.14221.070.91.240.251.48171.11890.21671.48620.552117.7%5811873
2008-11-28200831.190.99-4.50%13.04%65222417644564972711201827046784080.03720.1080211192311791711617469327521276301623724319681085222900021419662504887263187263187771602008-09-3016.33%6.73%7.62%31.57%1.0765-1.060.891.20.351.4361.05530.28011.52940.558317.2%6510974
2008-08-25200821.71.00.033.72%8.54%6017051112232291106229122363513620.03070.070619315561048924156599882632863841460712973621129732324556490717788072767672767611424512008-06-3013.95%5.63%4.84%7.24%1.1161-1.00.821.910.251.36171.0450.22111.44470.54313.8%5211278
2008-05-26200812.371.55-4.82%4.82%510527510527331813318128999289990.04250.0425172963689646113479683317557071235491865181098858062010589821578368232968232916171192008-03-3116.11%7.75%6.50%-1.1615-1.020.852.790.321.60151.27070.33121.28360.518319.9%4811280
2008-02-29200742.532.00.045.21%17.42%50899619501121787011512125715860390.04060.135815601469586341315116015128832380455302837379778683815111194863361063361013939422007-12-3114.91%6.54%3.51%-1.235516.20130.740.554.00.191.38831.11790.16192.03960.614514.6%4412580
2007-11-29200734.082.06-4.93%12.19%5345021418611341929619524344602040.04670.11561582946965795163125617151380014754523500756759544139568963152094452094419066552007-09-3016.85%7.40%6.40%17.22%1.1884-0.870.645.720.21.39181.07480.14842.12720.610115.0%5412783
2007-08-30200723.783.540.023.61%7.26%454953884109263516200317824358600.03390.0681155677096181816027859495245971186694351976580273027082114740152632252632219158122007-06-3015.89%6.78%5.79%25.13%0.865-0.830.596.170.31.3911.03730.22392.21270.617820.5%8315298
2007-05-2520071N/AN/A-3.72%3.72%429156429156359813598118365183650.03520.03521477731925099155704552632212096501788679765205593844511821052243052243014105612007-03-3118.95%9.63%8.38%27.81%0.6034-0.760.525.190.261.39481.03240.20832.33060.62628.7%120213136
2007-02-2620064N/AN/A0.035N/AN/A4625321624495341257274024711387980.04770.0749138663189274512267949388636218829242263910141646706240677734951768051768011026582006-12-3119.95%8.97%7.38%9.78%0.333628.42050.720.474.530.171.33970.96480.14672.4050.643844.4%224375292

Financial Quarter Balance Sheet
yearqrtAvailable-for-sale financial assets (A-0)Deferred tax assets (A-0)Derivative financial assets (A-0)Goodwill on consolidation (A-0)Intangible assets (A-0)Investment in associated companies (A-0)Investment in jointly controlled entity (A-0)Investment properties (A-0)Prepaid lease payments (A-0)Property, plant and equipment (A-0)Amount due from associated companies (A-1)Amount due from customers (A-1)Amount due from jointly controlled entity (A-1)Cash and cash equivalents (A-1)Current asset classified as held for sales (A-1)Current tax assets (A-1)Derivative financial assets (A-1)Fixed and time deposits (A-1)Inventories (A-1)Trade receivables (A-1)Deferred tax liabilities (L-0)Derivative financial liabilities (L-0)Hire purchase liabilities (L-0)ICULS (L-0)Loans & borrowings (L-0)Other liabilities (L-0)Term loans (L-0)Amount due to associated companies (L-1)Amount due to customers (L-1)Amounts due to Jointly Controlled Entities (L-1)Current tax liabilities (L-1)Derivative financial liabilities (L-1)Dividend payable (L-1)Hire purchase liabilities (L-1)ICULS (L-1)Liabilities directly associated with assets classified as held for sale (L-1)Loans & borrowings (L-1)Provision for warranty costs (L-1)Term loans (L-1)Trade and other payables (L-1)Minority interest (M-1)
20121117410161717109847504138687965348959920149359115079720649342338438298135756333456002642555146136779-25--8236360400-45724317947471102271782991-360595122263132134941796872
201141173869315801125525441794122107493078546511628381569702463184896857614478-39949328415957034713712-27--2201373318-358311331129613808-83630-398169122313826230244293658
201131137713116461128114691877028371596478837533240423179490470129276818314082-38626025836753506617255-273630-2908390359-19538539116896580022605---297377140343826329043992842
201121151455988210925150318411259866016791305382934235711821772203945782013468238733901326885844473217471-276457-22623850861873992042921456579-8--2433181776757996260076113920
20111116749481948108888516181432606960707941352953042175402389313868714678912551266219053521047654322916637-286464-2428408824-49012197417189209134314-133422440871837370231294197122907
201041137958110110469549170912762561727971954146340794600070441898915475312217218717553124311548107818831-318678-241542836568329922799183414134324-103311160421860475635246238115052
20103113582805117195317021154317352335794545666284554831846988185614-1848519915325626658136604021277-398677-18013380611422345-87206511447830--1236592033393333232485129628
2010211537591371215523481214233457923757974058147436118400411675214390-27776145166484290115376817246589494111182-2744374585-32387-10818--47--10287521954124019260353158436
2010111507744129122062385520930371562414800265909393667847279621271487-23802-1937652827224128812463813416411182-28004002231533404-20377-3698249--10993921579153819279822164533
2009410967458-1262844187224033636628238084761203636061601646183222397-24466-24949729041435650826405-5335259-2740435873-36014-18778-341956--9299722585187203310781148956
2009311927052-1332054085191533889438588098061898923331864368011152700-23768-6594232106445624719904--35259-2625194369-54526-15975-----351791--346611230476
2009211767043-1346984343192304106039618087463471023192148295536102005-21072-10934539341845233619093--39655-2531235804-45253-17606-----434668--386085204141
20091141338148-1290324392202984311343838107661222123252035256511163983-20295-6706738917647362418871--39655--262973-53716-17230-----399335--422715188424
2008411766580-1256254547205773999145288081656924122681814646623108384-18717-7828131257056820618275--47155-557248352-43214359019327-----38250523470-389395162588
2008312216651-1217874962204373916649095973256485420401040509523154007-15116-9726134151356469412648--47158--2222622040060-23081-----445219--388723161746
20082129217465-120740538620252363594925599585434902367894069285109602-15168-7254826088456242911980--54018--1591682056028-22673-----356094--388943156599
20081150316699-1153845690215023399349734766241571826111049967581188994-10491-3158222028149997611090--54041165372--2055006-26350-----213118--371464134796
2007415037463-1140026004215923491851504769531579239172600735762895792440110168-277301959305532128696--54041-30991681662010065644422313-----248314--352885131511
2007320985804-1175943957305842603397624643563986060632481091943236010777-1468622785858344811065--54042-249181687635110729-30138-----225113--352137163125
2007217365484-118870405229242282211562730349604618846493561136216236010139-2197124982250890510630--56631-422118388831114714925829163-----234338--295229160278
2007125475890-119499392127406305212567169343479669945377840108743236011835-2648823523146781710826--60119-1632718872254512856125823568-----230133--266040155704
2006427675895-12185740672561435269339039205337989292732421160869622108289198-1912222683743801511925--64061-19911191797445792271395519862-----209575--281987122679

Financial Quarter Income Statement
yearqrtRevenueIncome tax expenseCost of salesFinance/interest costsOther incomeAdministrative/Operating expensesMinority interestShare of profit/ (loss) of associatesSelling and distribution costsGain/loss on disposal of subsidiariesInvestment gain/lossElimination of interest expense on ICULSImpairment loss in respect of goodwillOther expenses
2012148156057541657154241032440745644826846251----3448
201145142121294241856748091781963614104254856052-----
2011347884371333766656082518946192824711339020----10533
2011240515850173305825581103503362331992679687----1359
201114908981693738346354809020346988377137938----330
20104397228753832548054732511048533295417987810----2016
20103346764804828553459181301941116167213637015----27
20102369743270131816360652400422855444128710844----57
201014096218319317748663560273826013133125613337----64
2009445507019980322752106983855985233153297995596-----
20093506779527739140976336658398162903879610037-----
200925518387897439291892118370558541763783510038-----
200914366216389342688114041182830966229136789043-----
200845787382229461884941448654110347147832559678----1571
20083652224157005457178164105806334269816481018213323---357
20082601705210751777760326092441684640145611856210---100
200815105271724282896735214734271743543648013----13429
20074508996428143308864622863056191356489448440----6631
2007353450258874444346293656345402396190711418-29--262
2007245495366213826686373531738406190618668168-0--170
20071429156100053478166733443736674761110677279-5329-501
200644625323339370278692546184504260757887921-034702418

Financial Quarter Segments Revenue
yearqrtOthersElimination/AdjustmentEngineeringPipeline ServicesRenewable EnergyTrading & E&P
2011220317037126211462151674169101
2011118230829288919173147089162089
2010422226786216213457158425139170
2010322155734789411722651634135362
20102227509605103715183640622176981
2010125219355179217846233888147162
200943566583285837426174669822127826
2009332882608686164258258190300126563
20092784254768873525166158351177783
200915949273588664518795948790134636

Financial Quarter Segments Profit
yearqrtOthersEngineeringPipeline ServicesRenewable EnergyTrading & E&P
20112374112582349875575837
20111419423325920451466194
2010482191664339996251320
2010336791928335111332883
2010263301201486573527519
2010174403833765934515189
2009412966811075630320533664
20093516770416252767871684
20092519212973331088026668
20091353089733666773605556

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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