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Thursday, January 31, 2013

KLCI Stock - BURSA / 1818 - 2012 Quarter 4

BURSA MALAYSIA BERHAD


Company Description
The Group's principal activity are treasury management and the provision of management and administrative services to its subsidiaries. The principal activities of the subsidiaries are to operate the securities, derivatives and offshore exchanges in Malaysia, its related depository and clearing houses, including the compilation, provision and dissemination of information relating to securities quoted on the exchanges. It operates through five segments: exchanges, clearing, settlement and depository, information services, exchange holding and others, which comprises the provision of a Sha’riah compliant commodity trading platform. The Company also operates through six markets: securities market, derivatives market, offshore market, information services, exchange holding and others. It subsidiaries include Bursa Malaysia Bonds Sdn. Bhd., Bursa Malaysia Depository Sdn. Bhd., and Bursa Malaysia Derivatives Berhad, among others.

Company Info
Listing Date2005-03-18
IPO Price3.0
Market Capital (Capital Size)3,521,997,556 (Large)
Par ValueRM 0.50
BoardMain
SectorFinance
Major IndustryStockbroking & Related Services
Websitehttp://www.bursamalaysia.com

My Analysis
Forecast P/E now(6.62-0.27)/0.2759 = 23.02 (High)
Target Price6.35+0.27 = 6.62 (PE 23.0, EPS 0.2759, DPS 0.27)
First Support Price6.45
Second Support Price6.3
Risk RatingMODERATE

Research House
AMMB Target Price8.2 (2012-10-22)
CIMB Target Price7.82 (2012-10-22)
HwangDBS Target Price5.6 (2012-10-22)
Kenanga Target Price7.3 (2012-10-22)
Maybank Target Price6.5 (2012-10-22)
OSK Target Price6.81 (2012-10-22)
TA Target Price7.2 (2012-10-22)
MIDF Target Price7.4 (2013-01-23)

Accounting Ratio
Return on Equity17.32%
Dividend Yield4.08%
Operating Profit Margin52.86%
Net Profit Margin52.86%
Tax Rate25.27%
Asset Turnover0.1767
Net Asset Value Per Share1.64
Net Tangible Asset per share1.56
Price/Net Tangible Asset Per Share0.0
Cash Per Share0.88
Liquidity Current Ratio1.3855
Liquidity Quick Ratio1.342
Liquidity Cash Ratio0.3732
Gearing Debt to Equity Ratio1.4932
Gearing Debt to Asset Ratio0.5946
Working capital per thousand Ringgit sale125.4%
Days to sell the inventory116
Days to collect the receivables42
Days to pay the payables2579

Technical Analysis
SMA 106.501 (Uptrend)
SMA 206.455 (Uptrend 30 days)
SMA 506.314 (Uptrend)
SMA 1006.3 (Uptrend)
SMA 2006.311 (Downtrend)
MACD (26d/12d)0.065536 ( 0.006694 )
Signal (9)0.056251 ( 0.002321 )
MACD Histogram0.009285 (Bullish trend 2 days)
Bolinger Upper Band6.741
Bolinger Lower Band6.169

My notes based on 2012 quarter 4 report (number in '000):-
- Higher revenue and pbt than FY11Q4 due to higher revenue from Securities and Derivatives segments

- Lower revenue and pbt than FY12Q3 due to lower revenue from Securities segment

- Estimate next 4Q eps after 2012 Q4 result announced = 0.2844*0.97 = 0.2759, estimate PE on current price 6.62 = 23.02(DPS 0.27)
- Estimate next 4Q eps after 2012 Q3 result announced = 153697*0.98/532472 = 0.2829, estimate highest/lowest PE = 22.69/20.68 (DPS 0.27)
- Estimate next 4Q eps after 2012 Q2 result announced = 0.2961, estimate highest/lowest PE = 21.88/19.69 (DPS 0.27)
- Estimate next 4Q eps after 2012 Q1 result announced = 926787*0.17/532072 = 0.2961, estimate highest/lowest PE = 22.66/19.08 (DPS 0.26)
- Estimate next 4Q eps after 2011 Q4 result announced = 874625*0.17/531947 = 0.2795, estimate highest/lowest PE = 26.69/24.01 (DPS 0.26)
- Estimate next 4Q eps after 2011 Q3 result announced = 841526*0.18/531956 = 0.2848, estimate highest/lowest PE = 25.53/20.87 (DPS 0.26)
- Estimate next 4Q eps after 2011 Q2 result announced = 875998*0.18/531399 = 0.2967, estimate highest/lowest PE = 26.93/18.54 (DPS 0.26)

BURSA latest news (English)

BURSA latest news (Chinese)



Financial Quarter Summary   Open in New Window
a_dateyearqrth_pricel_pricedivroec_roerevc_revpbtc_pbtprofc_profepsc_epsassetc_assetliabc_liabminoequicfocficffcashfcfnetfinalsharec_sharem_capdateoper_mprof_mvatasset_tpenavpsntapsp/ntapscpsl_curl_quil_cashg_deg_daavg_winv_drec_dpay_d
2013-01-3120124N/AN/A0.1354.08%17.32%9454738848049979216032357081514580.06700.2844219844217502781307221126327515770891221165014222401442371552381427741463153775532891532564N/A2012-12-3152.86%52.86%25.27%0.1767-1.641.56N/A0.881.38551.3420.37321.49320.5946125.4%116422579
2012-10-19201236.696.12-4.23%13.23%9667029393354474166053370351157500.06950.217418455141402481984367940287141318611471305008532144237155243139032520515003853294453247234055122012-09-3056.35%56.35%29.12%0.2052-1.591.514.230.851.49151.44060.47941.16220.5334122.0%104451933
2012-07-18201226.756.10.1354.34%9.00%966861971885376811157937947787150.07130.147918427891400828951118905004125578916718304356263727841553391393066652222186153237253223634657412012-06-3055.61%55.61%26.37%0.2052-1.651.574.150.911.54791.49920.53261.08190.5161131.1%96501870
2012-04-19201216.975.91-4.66%4.66%100502100502578115781140768407680.07660.0766196906215167101042275993805156669267874709316595229155229636886391721914653207253207237085412012-03-3157.52%57.52%27.00%0.1899-1.711.634.281.01.52621.48770.53411.14390.5293139.8%83512059
2012-02-09201147.726.970.133.63%16.93%8492838132144309206113313371461600.05890.27481673505124645479888075283314232874625177133388761225321396181382571572515534353206653194740011362011-12-3152.17%52.17%25.74%0.227927.36891.621.544.880.941.65571.61130.66410.92850.4774129.5%70391466
2011-10-19201137.536.2-4.47%13.30%9608829639354187161804386191148230.07260.215918983641463599105683810075231266784152615508537664123002139641117421558113406053207153195634105752011-09-3056.39%56.39%27.07%0.2058-1.561.484.330.881.45271.40980.46531.27510.5567116.7%87381889
2011-07-19201128.125.760.134.14%8.82%924612003054942110761735714762040.06720.1434181994813727939439508919041176887599810635614630573941394541209866359220304653139953139940545742011-06-3053.45%53.45%25.10%0.2054-1.631.554.920.931.53921.49410.55671.09220.5187128.6%81471688
2011-04-19201118.157.5-4.69%4.69%107844107844581965819640490404900.07620.0762184685813851979499358939671046489692364565122802008139458522855027718973553139953139942139942011-03-3153.96%53.96%28.01%0.1938-1.671.594.990.961.54951.51620.56781.07160.5144137.2%62551755
2011-01-27201048.567.830.1053.51%13.32%9427233125146805163754297851130410.05610.21271708254123590584468479252411266863570149285514968714533630220078111363644993853139953139944478092010-12-3149.80%49.65%36.34%0.193939.34691.61.525.510.851.55951.5250.5680.99110.4945133.9%60481631
2010-10-19201039.027.63-3.26%9.81%792972369793879311694927707832560.05210.156512880968181184679094159501126282018711529839934877393363031552326749340379653139953184944371812010-09-3049.12%48.92%26.82%0.2416-1.521.445.80.761.96691.87780.97080.57840.3633129.2%8243823
2010-07-16201028.666.910.0953.24%6.55%76515157682385897815627498555490.05170.10451444681950485592944538176105058517377967927416368543366441070957024140688553139953156737304202010-06-3050.64%50.43%26.37%0.2153-1.581.54.680.771.76611.69830.7560.70490.4104132.6%84421140
2010-04-20201017.796.75-3.31%3.31%8116781167395673956728051280510.05280.05281486747975537606885552514957787986243845142747248336632581196536740199953082353082340342542010-03-3148.94%48.75%26.60%0.2161-1.641.564.870.761.76561.67610.72760.69730.4082131.7%113551172
2010-02-04200948.07.170.0913.15%24.25%74219297818105226219181963151775880.18210.33571786641125838093802988571785978486121317957838697642827231239575419333691652896052896040782812009-12-3139.62%141.78%8.33%0.166622.96481.591.515.110.641.42071.34970.38041.11670.525125.2%149432007
2009-10-16200938.597.62-4.20%11.10%791152235994378511395530751812730.05590.1482178571713341701044181990990-741536104414235677185328283980847899429183355012254830946705352009-09-3055.54%55.34%29.77%0.1594-1.351.276.690.531.34631.25970.29451.40810.5847120.6%248512745
2009-07-20200928.57.250.1014.78%6.90%86808144391483397017035022505220.06390.092315854891113601829970773915-755519678495065327294282914171961009827281654812454729240013052009-06-3055.87%55.68%27.55%0.1704-1.381.35.620.51.43891.29920.35251.09850.5235125.7%363622468
2009-04-17200917.55.65-2.12%2.12%5758357583218312183115500155000.02840.02841841950137514610938031040602-7481473094927445642831593504356828672754487754487733782372009-03-3138.18%37.91%29.00%0.1404-1.371.294.810.531.32151.23340.27551.4620.5938129.4%392504286
2009-02-04200846.34.360.0781.73%13.38%6115029030723136145627135251044200.02430.189717298641265459997609946873-73225592902282221460313077121211242490728280555725955034028141572008-12-3138.09%37.83%41.54%0.168826.61581.331.254.042.051.33651.25951.20851.36240.5767109.1%336344186
2008-10-24200836.154.68-2.59%11.65%645892286812616012249120185908950.03690.16501884633142683811668341125664-71779957400034900146312841604608900462588130419254751955082528197222008-09-3040.75%40.50%22.84%0.1717-1.31.224.222.381.26761.20451.15861.62560.619193.1%325375086
2008-07-17200827.55.10.1653.67%9.06%75206164092390259633128639707100.05210.128316169731143208856721814707-7602522453211253692550841226257857165307100653354966555113236003052008-06-3052.10%51.89%26.61%0.229-1.381.35.041.831.40321.31311.23551.12690.529888.7%338463671
2008-04-18200819.26.35-5.39%5.39%9097690976573065730642071420710.07640.07642057564157450912335781201729-823986387785291266307172440694433535150755067355067348734562008-03-2163.16%62.99%26.59%0.1993-1.51.426.232.631.31021.24641.2051.49710.599590.9%390406043
2008-01-312007413.38.050.256.11%29.73%9284444340157353318980494892406250.08970.43741446996957011666767638664-7802293230376985127090671934339288812198284132555166655010271716582007-12-3161.95%61.77%13.71%0.306429.71981.421.349.71.531.49851.38111.31730.85460.460871.8%375332948
2007-10-112007316.112.8-6.92%23.61%11132235047275661261627559801911360.10180.347916452801149635811451781787-83382942835751262167278719538479619312341103187954974254941860471622007-09-3068.11%67.97%26.01%0.2588-1.521.447.641.881.47051.38061.31990.97320.493286.4%497415099
2007-07-1720072N/AN/A0.288.03%16.70%11486923915089398185966650061351560.11820.246116683861180623770950743091-8974363288722261247137719625351484304347102397255002554926462702852007-06-3077.97%77.83%27.28%0.1885-1.631.557.351.861.58881.4611.3780.85910.4621139.1%645694698
2007-04-2520071N/AN/A0.328.67%8.67%124281124281965689656870150701500.12790.12791425547958169545597517093-8799503913862901258719619454284668676630554854754854760888712007-03-3177.83%77.70%27.36%0.14-1.61.527.31.41.8531.61761.48190.620.3827221.0%10571214190
2007-01-3120064N/AN/A0.14N/AN/A7529426211842790152913285861081050.05250.19981407423885648598000525554-8094234171266203817250541311447916430665971977354427954106743814452006-12-3157.05%56.83%33.19%0.053540.29041.51.415.711.321.68521.46631.36960.73880.4249478.3%12982285717

Financial Quarter Balance Sheet   Open in New Window
yearqrtComputer software (A-0)Deferred tax assets (A-0)Goodwill on consolidation (A-0)Investment securities (A-0)Property, plant and equipment (A-0)Staff loans (A-0)Cash and bank balances not belonging to the Group (A-1)Cash and cash equivalents (A-1)Current tax assets (A-1)Investment securities (A-1)Other receivables (A-1)Trade receivables (A-1)Deferred capital grant (L-0)Deferred tax liabilities (L-0)Loans & borrowings (L-0)Other liabilities (L-0)Retirement benefits obligations (L-0)Clearing Fund's contributions (L-1)Current tax liabilities (L-1)Loans & borrowings (L-1)Other payables (L-1)Trade and other payables (L-1)Minority interest (M-1)
201246127412784295712378220973391401175000471503429654936142813026299349196--24816359389568-80535113723415770
201235645510504295712164221099899318547684507592641479451405832310104149493--241733586212437-10554078644814131
2012260007100042957115119212671102078224674820077644403616504350501089210007--25215347938641-7393278763812557
20121646311006429571173962154441091889138653082337423819514915376491137212144--249543461710259-9218985674015666
20114596141034429579337121839711678671880499943388334411293227870118509886--243113448514852-6733063616614232
2011362612102742957945752214221217290619646881644844319812517283881246912920--239263452431506-6986187163212667
2011268143115642957968432251881286878674049655214984023215971318001310215404--235403424623532-8166175246511768
20111679481103429571093162269901334779043950759235182976717132367491373619077--231553411517775-10312473895310464
20104730561023429571104042311041380571011945014245862733510197335261098618349--228253354313489-6891667657611266
2010374292182242957102622233934143513335964037966926370569038277061157017637--227523263712693-6966130095911262
20102737382130429571232952370781499846409640688574223650111005245761215318257--24358325508218-6586243154610505
201017828030494295713168423937515865464933401999105594946216976316081273717347--24287324367279-803024324979577
20094836094139429571373472431631704681453433691692556288413763210281221116208--23893324417069-641147820938597
20093925073409447204773424528417893905025291833120578583913797256191265616723--2381231634940321976343873391-
200929801848704472057643247328193096699802728161680910812013547323291306519556--2343432147603221997684637833-
20091924925795447205273525072620336945761286727155539162515363201171347416671--2305633287498521989637912474-
20084918286357447204720025372220578-1144305212037285711598154961161716179--2294033745542621979728827755-
20083815337061447204681625653421131-130419218607709411376719331119446718219-2228999825034220814001029028-
20082753457627447206524425910021729-100653316543734292252324180119428086219-217679703628047085684712570-
20081721638328447207065726424222945-1448137438576654141373119624778037219-21116925439002201009791087376-
20074645419687447208058026753122926-8413255074953126212806224774636219-20771307441885722085661503182-
20073434447794472010248328024123978-10318795070322153683201637775379439-2006989855035422086122636106-
20072331357504472010502027897725161-1023972225594987168184259124795575439-1936685804195622075889616446-
2007131708684447208508727860126578-7663054108121729169854904227986604439-1866385972583922081039401398-
2006428386706447209577232534126850-7197733808115008168553020428314541439461811845485491020122069959436625-

Financial Quarter Income Statement   Open in New Window
yearqrtRevenueIncome tax expenseCost of salesFinance/interest costsOther incomeAdministrative/Operating expensesMinority interestDepreciation & amortisationGain/loss on disposal of subsidiariesStaff costs
201249454712632--98481869116398476-27249
201239667015865--95421776315748524-25451
201229668614180--92721806916418676-25445
2012110050215609--100162033414348037-24336
201148492811407--107411731915658931-25110
201139608814669--11221154928999684-27946
201129246112403--85951647613049979-25180
2011110784416300--82642217614069850-25886
201049427217007-1477637192251310030-25702
201037929710403-15774681359468311230-22991
201027651510177-15677511235291410917-22252
201018116710526-15469421587199011056-21461
20094742198761-158720317261150114787597523274
200937911513034-157717412745-9134-20468
200928680813317-157777116297-9062-20724
20091575836331-153656914146-9237-18785
2008461150961120658158996420935-6227--
2008364589597520610162904421712-4989--
200827520610386211421581046620540-4807--
200819097615235167271571028022560-4506--
20074928447864212171601036120912-3563--
2007311132219681202791641098122683-3516--
2007211486924392135491641549823589-3667--
2007112428126418178681561181218213-3288--
200647529414204-16294421537204512-21900

Financial Quarter Segments Revenue
yearqrtOthersInvestment holdingSecuritiesDerivatives
20124126629847069419603
20123102130187431818313
2012295730487400818673
2012169230417679519974
2011466229856561915662
2011358529567579616751
2011256228917374315265
20111642-8529721905
20104592-8031113369
20103531-6638312383
2010230027546228311178
20101405-6530015462
20094325-6275911135
200933463816700111387
20092271-7268913848
20091221-4109816264
20084--4542812989

Financial Quarter Segments Profit
yearqrtOthersInvestment holdingSecuritiesDerivatives
2012472333605254310276
20123112831725592610643
201227679325633010962
20121135015286048110390
2011422535171461218756
201133541353508726557
2011236841149458696124
2011134491530542529056
2010445912554477191301
2010324202536412522652
2010215994496319043949
2010118891421353354866
2009468767538338174727
2009392197365978383
200921329108439475996
200915602975151886873
20084--144447318

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


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