Company Description SCIENTEX BERHAD is engaged in investment holding, letting of properties and provision of management services. The Company has two operating segments: property segment, which is in the business of constructing and developing residential and commercial properties, and manufacturing segment, which is mainly in the business of manufacturing various packaging products and manufacturing materials for automotives interior. Included in this segment is also the marketing and sales of laminating polyurethane adhesives. The packaging business unit manufactures various packaging products, which caters for packaging for logistics purposes, general purpose packaging and packaging for bulk handling. The polymer business unit manufactures polyvinyl chloride (PVC) leather cloth, PVC/polypropylene (PP) and PVC/polyethylene (PE) foam and thermoplastic olefin/PP foam sheets for automotive instrument panels, door trims and headlining for car manufacturers in the Asia Pacific region.
Company Info
Listing Date 1990-02-08 Market Capital (Capital Size) 715,300,000 (Medium) Par Value RM 0.50 Board Main Sector Industrial Products Major Industry Property Development Sub Industry Packaging Products Manufacturing Website http://www.scientex.com.my/
My Analysis
Forecast P/E now (3.11-0.16)/0.451 = 6.54 (Moderate) Target Price 3.38+0.16 = 3.54 (PE 7.5, EPS 0.451, DPS 0.16) First Support Price 3.0 Second Support Price 2.85 Risk Rating MODERATE
Research House
Maybank Target Price 3.54 (2012-10-10) TA Target Price 3.89 (2013-01-04)
Accounting Ratio
Return on Equity 16.94% Dividend Yield 5.14% Operating Profit Margin 13.03% Net Profit Margin 12.97% Tax Rate 19.32% Asset Turnover 1.0982 Net Asset Value Per Share 2.56 Net Tangible Asset per share 2.56 Price/Net Tangible Asset Per Share 1.19 Cash Per Share 0.23 Liquidity Current Ratio 1.4835 Liquidity Quick Ratio 0.9404 Liquidity Cash Ratio 0.2401 Gearing Debt to Equity Ratio 0.442 Gearing Debt to Asset Ratio 0.2938 Working capital per thousand Ringgit sale 11.1% Days to sell the inventory 52 Days to collect the receivables 59 Days to pay the payables 71
Technical Analysis
SMA 10 3.164 (Downtrend) SMA 20 3.174 (Uptrend 23 days) SMA 50 3.037 (Same) SMA 100 2.841 (Uptrend) SMA 200 2.561 (Uptrend) MACD (26d/12d) 0.032115 ( 0.006853 ) Signal (9) 0.050659 ( 0.004636 ) MACD Histogram 0.018544 (Bearish trend 7 days)Bolinger Upper Band 3.478 Bolinger Lower Band 2.87
My notes based on 2012 quarter 4 report (number in '000):- SCIENTX latest news (English) SCIENTX latest news (Chinese) Financial Quarter Summary Open in New Window
a_date year qrt h_price l_price div roe c_roe rev c_rev pbt c_pbt prof c_prof eps c_eps asset c_asset liab c_liab mino equi cfo cfi cff cash fcf net final share c_share m_cap date oper_m prof_m vat asset_t pe navps ntaps p/ntaps cps l_cur l_qui l_cash g_de g_da avg_w inv_d rec_d pay_d 2012-12-19 2013 1 N/A N/A - 4.44% 4.44% 241616 241616 31329 31329 24875 24875 0.1157 0.1157 827581 308761 243168 208137 34319 584413 37692 18568 5475 36335 19124 13649 49984 215040 215040 655872 2012-10-31 13.03% 12.97% 19.32% 1.0982 - 2.56 2.56 1.19 0.23 1.4835 0.9404 0.2401 0.442 0.2938 11.1% 52 59 71 2012-09-18 2012 4 3.27 2.4 0.08 4.62% 16.58% 226014 881025 29531 107169 23389 83917 0.1088 0.3902 809042 295810 249338 213093 33988 559704 108689 91101 22018 40765 17588 4430 36335 215040 215040 526848 2012-07-31 12.96% 13.07% 14.78% 1.089 6.2782 2.44 2.44 1.0 0.17 1.3882 0.7682 0.1705 0.4743 0.3082 9.4% 62 53 74 2012-06-26 2012 3 2.56 2.35 0.06 3.89% 11.96% 226760 655011 25514 77638 19711 60528 0.0917 0.2815 808852 292684 262301 223429 32338 546551 83033 85337 6641 40765 2304 4337 45102 215040 215040 516096 2012-04-30 11.37% 11.25% 19.44% 1.0635 - 2.39 2.39 1.0 0.21 1.31 0.7775 0.2019 0.5101 0.3243 8.1% 57 55 73 2012-03-21 2012 2 2.54 2.25 - 3.99% 8.06% 214489 428251 25839 52124 20184 40817 0.0939 0.1898 751915 307594 225070 190698 31735 526845 51174 42430 6033 40765 8744 14777 55542 215040 215040 539750 2012-01-31 12.12% 12.05% 19.66% 1.1315 - 2.3 2.3 1.09 0.26 1.613 0.9715 0.2913 0.4546 0.2993 13.7% 60 56 57 2011-12-15 2012 1 2.72 2.42 - 4.08% 4.08% 213762 213762 26285 26285 20633 20633 0.0959 0.0959 780507 316521 251844 216119 39690 528663 24380 25618 37239 40765 1238 36001 76766 215040 215151 539750 2011-10-31 12.42% 12.30% 18.62% 1.0649 - 2.27 2.27 1.11 0.36 1.4646 0.9238 0.3561 0.515 0.3227 12.1% 59 54 66 2011-09-28 2011 4 2.53 2.12 0.07 4.61% 17.14% 205200 804023 25950 96641 20777 77246 0.0966 0.3590 725076 281005 218955 182176 38778 506121 110534 39275 53667 23173 71259 17592 40765 215040 215198 453734 2011-07-31 12.86% 12.65% 16.04% 1.1089 5.8782 2.17 2.17 0.97 0.19 1.5425 0.8142 0.2248 0.4685 0.302 12.3% 69 49 71 2011-06-21 2011 3 2.74 2.0 0.05 4.52% 12.53% 217312 598823 25885 70691 20388 56469 0.0948 0.2623 735797 283294 239938 194564 37920 495859 71493 33092 24079 23173 38401 14322 37495 215040 215251 580608 2011-04-30 12.03% 11.91% 18.34% 1.0744 - 2.13 2.13 1.27 0.18 1.456 0.8453 0.1936 0.524 0.3261 11.2% 62 58 73 2011-03-15 2011 2 2.76 2.44 - 4.23% 8.00% 194886 381511 23765 44806 19076 36081 0.0886 0.1675 705051 272938 230330 183031 37170 474721 39628 9593 20790 23173 30035 9245 32418 215303 215353 570552 2011-01-31 12.28% 12.19% 16.95% 1.0676 - 2.03 2.03 1.31 0.15 1.4912 0.8067 0.1781 0.5264 0.3267 11.9% 69 55 70 2010-12-15 2011 1 2.94 1.88 - 3.77% 3.77% 186625 186625 21041 21041 17005 17005 0.0789 0.0789 683581 248968 214135 163294 36654 469446 23227 4436 13284 23173 18791 5507 28680 215404 215404 407113 2010-10-31 11.24% 11.27% 17.03% 1.0482 - 2.01 2.01 0.94 0.13 1.5247 0.847 0.1767 0.4948 0.3133 12.0% 63 55 69 2010-09-28 2010 4 1.93 1.75 0.06 4.34% 14.67% 191686 694816 21710 70754 17829 60318 0.0828 0.2800 675063 239386 224266 171144 36449 450797 76832 90566 21468 15439 13734 7734 23173 215404 215404 407113 2010-07-31 11.40% 11.33% 16.08% 1.0293 6.7495 1.92 1.92 0.98 0.11 1.3987 0.7106 0.1365 0.5413 0.3322 9.8% 69 52 74 2010-06-23 2010 3 1.96 1.44 0.03 4.09% 10.33% 179502 503130 19290 49044 16823 42489 0.0781 0.1973 670195 220304 227525 174650 37269 442670 40550 75314 46493 15439 34764 11729 27168 215404 215404 312335 2010-04-30 10.79% 10.75% 10.61% 0.9518 - 1.88 1.8 0.81 0.13 1.2614 0.771 0.1566 0.5612 0.3395 7.2% 54 61 68 2010-03-25 2010 2 1.58 1.34 - 3.15% 6.24% 158714 323628 15064 29754 12938 25666 0.0601 0.1192 669145 218425 232188 176582 36967 436957 47204 71384 46282 15439 24180 22102 37541 215404 215404 308027 2010-01-31 9.37% 9.49% 10.63% 0.855 - 1.86 1.78 0.8 0.18 1.237 0.7357 0.2136 0.5805 0.347 7.3% 63 59 87 2009-12-16 2010 1 1.5 1.26 - 3.10% 3.10% 164914 164914 14690 14690 12728 12728 0.0591 0.0591 608322 217791 183941 139882 36559 424381 11100 10496 4609 15439 604 5213 20652 215404 215404 297257 2009-10-31 8.46% 8.91% 10.04% 0.8568 - 1.8 1.8 0.77 0.1 1.557 0.9162 0.1489 0.4743 0.3024 14.9% 69 75 90 2009-09-30 2009 4 1.4 1.25 0.05 3.77% 9.83% 134756 509731 15813 42051 14374 37458 0.0667 0.1739 584611 198457 173381 127527 36136 411230 71955 26218 59617 29319 45737 13880 15439 215404 215404 275717 2009-07-31 11.57% 11.73% 6.27% 0.8719 7.3607 1.74 1.74 0.74 0.07 1.5562 0.7693 0.1225 0.4622 0.2966 13.9% 78 59 87 2009-06-16 2009 3 1.36 1.12 - 2.62% 6.06% 113742 374975 11139 26239 9989 23085 0.0464 0.1072 552301 185908 155845 103138 35732 396456 32646 10219 33326 29319 22427 10899 18420 215404 215404 249868 2009-04-30 9.72% 9.79% 7.90% 0.9824 - 1.67 1.67 0.69 0.09 1.8025 1.0487 0.1803 0.432 0.2822 15.3% 58 60 56 2009-03-18 2009 2 1.17 0.85 - 1.46% 3.44% 107786 261233 6301 15100 5544 13096 0.0257 0.0608 555034 188635 169413 115441 35347 385621 8409 7260 9248 29319 1149 8099 21220 215404 215404 185247 2009-01-31 6.21% 5.85% 10.30% 1.071 - 1.63 1.62 0.53 0.1 1.634 0.9202 0.1901 0.4837 0.3052 12.3% 55 52 48 2008-12-17 2009 1 1.05 0.815 - 1.98% 1.98% 153447 153447 8799 8799 7552 7552 0.0351 0.0351 597527 230579 209024 153742 35000 388503 3092 1215 1782 29319 4307 2525 26794 215404 215404 219712 2008-10-31 5.96% 5.73% 10.84% 1.0947 - 1.64 1.63 0.63 0.13 1.4998 0.8524 0.1753 0.5913 0.3498 11.7% 61 58 68 2008-09-24 2008 4 1.19 0.95 0.05 5.64% 12.33% 167597 656596 22431 57414 21799 47698 0.1010 0.2414 621372 248178 240452 183858 34969 380920 63286 43096 19379 28508 20190 811 29319 215925 197584 243995 2008-07-31 13.32% 13.38% 1.34% 1.0567 4.6809 1.75 1.74 0.65 0.14 1.3498 0.7699 0.1603 0.695 0.387 9.8% 65 62 88 2008-06-24 2008 3 1.3 1.05 0.03 2.67% 6.75% 165589 488980 13226 35184 10314 26093 0.0522 0.1363 622487 243051 256397 202445 35016 366090 18767 40195 12017 28508 21428 9411 19097 197496 191426 244895 2008-04-30 8.36% 7.99% 9.83% 1.024 - 1.73 1.72 0.72 0.1 1.2006 0.6713 0.0989 0.7744 0.4119 6.4% 66 66 83 2008-03-25 2008 2 1.35 1.17 - 2.41% 4.08% 167489 323391 13003 21958 9323 15779 0.0496 0.0837 623300 243642 227444 171626 103334 395856 15564 34953 6188 28508 19389 13201 15307 187997 188456 233116 2008-01-31 8.02% 7.76% 12.33% 0.998 - 1.55 1.54 0.81 0.08 1.4196 0.7508 0.0904 0.7775 0.3649 11.6% 72 67 73 2007-12-18 2008 1 1.4 1.02 - 1.67% 1.67% 155902 155902 8955 8955 6456 6456 0.0342 0.0342 619107 225583 227488 169747 102808 391619 15334 33547 14547 28508 18213 3666 24842 188916 188916 258814 2008-10-31 6.21% 5.74% 13.23% 0.9893 - 1.53 1.52 0.9 0.14 1.3289 0.7871 0.1505 0.7877 0.3674 9.1% 59 64 73 2007-09-19 2007 4 1.42 1.3 0.03 N/A N/A 148419 613091 7050 40218 9361 35184 0.0489 0.1829 590744 229022 203969 169251 102173 386775 60005 21829 34259 24591 38176 3917 28508 191576 192389 295027 2007-07-31 5.29% 4.75% - 0.7729 8.4208 1.48 1.47 1.05 0.15 1.3532 0.8013 0.1735 0.7167 0.3453 13.1% 80 85 92 2007-06-27 2007 3 N/A N/A - N/A N/A 150255 464632 8488 33290 7010 25979 0.0366 0.1348 603621 242571 237633 183643 96876 365988 28435 10817 21730 24591 17618 4112 20479 191602 192663 272074 2007-04-30 6.25% 5.65% 4.76% 0.5105 - 1.4 1.39 1.02 0.12 1.3209 0.7697 0.1245 0.883 0.3937 19.1% 129 140 143 2007-03-20 2007 2 N/A N/A - N/A N/A 157921 314377 12420 24802 10765 18969 0.0545 0.0982 603141 246367 240963 184250 95620 362178 12118 6936 5739 24591 5182 557 24034 197574 193176 448492 2007-01-31 8.39% 7.86% - 0.2618 - 1.38 1.37 1.66 0.13 1.3371 0.8124 0.1401 0.904 0.3995 39.3% - 286 N/A
Financial Quarter Balance Sheet Open in New Window
year qrt Intangible assets (A-0) Investment in associated companies (A-0) Investment in jointly controlled entity (A-0) Investment properties (A-0) Land held for property development (A-0) Other investments (A-0) Property, plant and equipment (A-0) Cash and cash equivalents (A-1) Derivative financial assets (A-1) Inventories (A-1) Property development costs (A-1) Trade receivables (A-1) Deferred tax liabilities (L-0) Loans & borrowings (L-0) Retirement benefits obligations (L-0) Current tax liabilities (L-1) Loans & borrowings (L-1) Retirement benefit obligations (L-1) Trade and other payables (L-1) Minority interest (M-1) 2013 1 - 10163 22371 4603 262948 5037 213698 49984 - 49557 63479 145741 23563 3750 7718 7444 46765 267 153661 34319 2012 4 - 10056 22464 4621 260198 5037 210856 36335 - 60981 71138 127356 23563 5000 7682 6491 50721 267 155614 33988 2012 3 - 9911 22219 4639 264875 5037 209487 45102 - 56893 62066 128623 25397 6250 7225 8193 64652 286 150298 32338 2012 2 - 9730 22413 4657 191246 5037 211238 55542 - 52528 69805 129719 19682 7500 7190 11357 62418 312 116611 31735 2012 1 - 9574 22476 4674 208855 5037 213370 76966 - 54390 62481 122684 19683 8750 7292 8864 76355 361 130539 39690 2011 4 - 9614 22499 4692 209275 5037 192954 40953 - 67763 64912 107377 19682 10000 7097 7583 37510 361 136722 38778 2011 3 - 9730 22462 - 216446 5037 198828 37675 340 53642 65193 126444 20639 18421 6314 7891 47375 448 138850 37920 2011 2 - 9552 - - 214322 5037 203202 32598 864 61124 64156 114196 20639 20346 6314 6319 48139 530 128043 37170 2011 1 - 9391 - - 216234 5037 203951 28860 1542 54519 56141 107906 20639 23888 6314 5205 37930 613 119546 36654 2010 4 - 8882 - - 216675 5037 205083 23353 - 63375 54404 98254 20639 26169 6314 3283 42019 659 125183 36449 2010 3 16718 8557 - - 222085 5217 197314 27347 - 52130 33523 107304 16984 29953 5938 2803 64766 109 106972 37269 2010 2 16718 8139 - - 220897 5217 199749 37721 - 51203 37314 92187 16985 32682 5939 2483 50582 109 123408 36967 2010 1 - 7749 - - 172898 5280 204604 20832 - 52766 36861 107332 17723 20397 5939 1590 20990 208 117094 36559 2009 4 - 6915 - - 170512 5329 203398 15619 - 61682 38664 82492 17723 22163 5968 1405 14451 255 111416 36136 2009 3 1640 16775 - - 137729 5329 204920 18600 - 50926 26824 89558 18911 28262 5534 263 26710 91 76074 35732 2009 2 1640 16378 - - 136312 5329 206740 21940 - 51985 30420 84290 18909 29528 5535 408 43601 137 71295 35347 2009 1 1640 16251 - - 138292 781 209984 26944 - 67713 31817 104105 18907 30840 5535 639 41979 137 110987 35000 2008 4 1640 15958 - - 140298 781 214517 29469 - 77233 29384 112092 18907 32152 5535 1099 38622 249 143888 34969 2008 3 2037 15374 - - 140782 3358 217885 20018 - 79022 28120 115891 20214 33463 275 1390 65894 - 135161 35016 2008 2 1918 15181 - - 136501 3358 222700 15521 - 78042 36735 113344 20215 35412 191 1908 53854 - 115864 103334 2008 1 1640 14775 - - 146619 3390 227100 25540 - 67507 24463 108073 20215 37285 241 1765 53782 - 114200 102808 2007 4 1640 14499 - - 112409 3390 229784 29365 - 69967 23432 106258 20215 14157 346 1910 60107 - 107234 102173 2007 3 1587 14486 - - 112911 4435 227631 22855 - 74574 26639 118503 36925 16745 320 1274 70535 - 111834 96876 2007 2 1640 14188 - - 107669 4435 228842 25821 - 65769 30908 123869 36924 19496 293 1474 78981 - 103795 95620
Financial Quarter Income Statement Open in New Window
year qrt Revenue Income tax expense Finance/interest costs Administrative/Operating expenses Minority interest Investment gain/loss 2013 1 241616 6053 168 210132 401 13 2012 4 226014 4365 200 196720 1777 437 2012 3 226760 4961 252 200980 842 14 2012 2 214489 5079 253 188490 576 93 2012 1 213762 4895 192 187222 757 63 2011 4 205200 4162 399 178817 1011 34 2011 3 217312 4747 399 191168 750 140 2011 2 194886 4029 323 170959 660 161 2011 1 186625 3584 452 165641 452 509 2010 4 191686 3491 460 169840 390 324 2010 3 179502 2046 496 160134 421 418 2010 2 158714 1601 205 143835 525 390 2010 1 164914 1475 99 150960 487 835 2009 4 134756 992 424 119168 447 649 2009 3 113742 880 313 102687 270 397 2009 2 107786 649 520 101092 108 127 2009 1 153447 954 647 144294 293 293 2008 4 167597 301 677 145279 331 790 2008 3 165589 1300 807 151749 1612 193 2008 2 167489 1603 834 154058 2077 406 2008 1 155902 1185 1009 146214 1314 276 2007 4 148419 2824 864 140563 513 58 2007 3 150255 404 1199 140865 1074 297 2007 2 157921 630 1073 144677 2285 249
Financial Quarter Segments Revenue
year qrt Property development Manufacturing 2013 1 68971 172645 2012 4 59187 166827 2012 3 59494 167266 2012 2 66181 148308 2012 1 59652 154110 2011 4 59593 145607 2011 3 58142 159170 2011 2 52615 142271 2011 1 48212 138413 2010 4 51713 139973 2010 3 37961 141541 2010 2 31608 127106 2010 1 28514 136400 2009 4 22761 111995 2009 3 17163 96579 2009 2 19074 88712 2009 1 22330 131117 2008 4 22303 145294 2008 3 22887 142702 2008 2 21213 139617 2008 1 20655 126565 2007 4 19248 119877 2007 3 18820 121803 2007 2 21703 126317
Financial Quarter Segments Profit
year qrt Property development Manufacturing 2013 1 20985 10499 2012 4 19385 9909 2012 3 16915 8865 2012 2 18527 7472 2012 1 17067 9473 2011 4 14153 12230 2011 3 18015 8129 2011 2 16298 7629 2011 1 13531 7453 2010 4 10881 10965 2010 3 9399 9969 2010 2 6506 8373 2010 1 6218 7736 2009 4 8478 7110 2009 3 4017 7038 2009 2 3129 3565 2009 1 4317 4836 2008 4 4539 5947 2008 3 5798 8042 2008 2 5240 7252 2008 1 4799 4468 2007 4 7039 1455 2007 3 4833 4216 2007 2 5580 7452
Short form reference a_date = announcement date, yr = financial year end, qrt = quarterh_price = stock highest price during the quarter, l_price = stock lowest price during the quarterdiv = dividend recommend or declare in the quarter, roe = return on equityc_roe = cumulative of return on equity during the financial yearrev = revenue in the current quarter, c_rev = cumulative of revenue during the financial yearpbt = profit before tax in the current quarter, c_pbt = cumulative of profit before tax during the financial yeareps = earnings per share in the current quarter, c_eps = cumulative of earnings per share during the financial yearasset = total asset, liab = total liability, mino = minority interest, equi = total equitycfo = net cash flow from operating activities, cfi = net cash flow from investing activitiescff = net cash flow from financing activities, cash = cash and cash equivalents as at beginning of financial yearfinal = cash and cash equivalents as at current financial period endedshare = diluted/basic weighted average number of ordinary sharesc_share = cumulative of diluted/basic weighted average number of ordinary shares during the financial yearm_cap = market capital at announcement date of quarterly report, date = current financial period ended dateprof_m = profit margin, vat = income tax rate, pe = price earning per share ratio of recent four quarternavps = net asset value per share, ntaps = net tangible asset per share, cps = cash per sharel_cur = liquidity current ratio, l_qui = liquidity quick ratio, l_cash = liquidity cash ratiog_de = gearing debt to equity ratio, g_da = gearing debt to assets ratioavg_w = working capital per thousand Ringgit saleinv_d = days to sell the inventory, rec_d = days to collect the receivablespay_d = days to pay the payablesCURRENT ● CHANGES IN SHAREHOLDING ● ANNUAL REPORTS HISTORICAL ● CHANGES IN SHAREHOLDING ARCHIVES ● CHANGES IN SHAREHOLDING ● CHANGES IN SHAREHOLDING 
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