Sponsor by Innity

Sponsor by cwyeoh

Sponsor by Nuffnang

Wednesday, January 30, 2013

KLCI Stock - SPSETIA / 8664 - 2012 Quarter 4

S P SETIA BERHAD


Company Description
S P SETIA BERHAD is Malaysia-based real estate developer. The Company is engaged in business as building contractors. It is also an investment holding company. All the Company’s operations are entirely carried out in Malaysia, and are organized into three main segments: Property development, Construction (building and highway construction) and Others (manufacturing, trading and investing). In June 11, 2008, the Company acquired Sentosa Jitra Sdn Bhd. In July 3, 2008, the Company acquired Kayan Setegas Sdn Bhd.

Company Info
Listing Date1993-04-12
Market Capital (Capital Size)6,734,738,593 (Very Large)
Par ValueRM 0.75
BoardMain
SectorProperties
Major IndustryEngineering & Construction
Sub IndustryProperty Development
Websitehttp://www.spsetia.com.my

My Analysis
Forecast P/E now(3.15-0.14)/0.2295 = 13.12 (Moderate)
Target Price3.44+0.14 = 3.58 (PE 15.0, EPS 0.2295, DPS 0.14)
First Support Price3.0
Second Support Price2.8
Risk RatingMODERATE

Research House
AMMB Target Price3.95 (2012-06-08)
OSK Target Price4.34 (2012-06-22)
Affin Target Price3.82 (2012-09-06)
CIMB Target Price3.99 (2012-12-13)
ECM Target Price3.7 (2012-12-13)
HLG Target Price3.02 (2012-12-13)
MIDF Target Price3.96 (2012-12-13)
RHB Target Price3.66 (2012-12-13)
Kenanga Target Price3.3 (2012-12-20)
HwangDBS Target Price4.1 (2013-01-14)
Maybank Target Price4.21 (2013-01-14)
Public Target Price4.4 (2013-01-17)
TA Target Price4.03 (2013-01-17)

Accounting Ratio
Return on Equity11.45%
Dividend Yield4.44%
Gross Profit Margin39.04%
Operating Profit Margin26.65%
Net Profit Margin25.31%
Tax Rate35.13%
Asset Turnover0.2701
Net Asset Value Per Share2.05
Net Tangible Asset per share2.05
Price/Net Tangible Asset Per Share1.54
Cash Per Share0.76
Liquidity Current Ratio1.3492
Liquidity Quick Ratio0.7966
Liquidity Cash Ratio0.5232
Gearing Debt to Equity Ratio1.3141
Gearing Debt to Asset Ratio0.5682
Working capital per thousand Ringgit sale40.8%
Days to sell the inventory358
Days to collect the receivables114
Days to pay the payables302

Technical Analysis
SMA 103.152 (Downtrend)
SMA 203.148 (Uptrend 11 days)
SMA 503.139 (Downtrend)
SMA 1003.382 (Downtrend)
SMA 2003.523 (Downtrend)
MACD (26d/12d)-0.003237 ( 0.001204 )
Signal (9)-0.005367 ( 0.000532 )
MACD Histogram0.002130 (Bullish trend 2 days)
Bolinger Upper Band3.29
Bolinger Lower Band3.006

My notes based on 2012 quarter 4 report (number in '000):-
- Higher revenue and pbt mainly contributed from higher revenue recognition from residential and commercial properties in the Klang Valley, Johor Bahru and Penang and steadily increasing the selling prices for its products through continuous value-creation

- Estimate next 4Q eps after 2012 Q4 result announced = 0.1996*1.15 = 0.2295, estimate PE on current price 3.15 = 13.12(DPS 0.14)
- Estimate next 4Q eps after 2012 Q3 result announced = 0.0979*2*1.1 = 0.2154, estimate highest/lowest PE = 16.9/13.18 (DPS 0.14)
- Estimate next 4Q eps after 2012 Q2 result announced = 3761947*0.11/1942006 = 0.2131, estimate highest/lowest PE = 17.64/15.72 (DPS 0.14)
- Estimate next 4Q eps after 2012 Q1 result announced = 3547210*0.13/1918641 = 0.2403, estimate highest/lowest PE = 15.94/15.36 (DPS 0.14)
- Estimate next 4Q eps after 2011 Q2 result announced = 0.0861*2 = 0.1722, estimate PE on current price 4.1 = 22.71(DPS 0.19)
- Estimate next 4Q eps after 2011 Q1 result announced = 0.1287*2*1.1 = 0.2831/3*2 = 0.1887, estimate highest/lowest PE = 22.92/20.56 (DPS 0.2)
- Estimate next 4Q eps after 2010 Q4 result announced = 0.05*4*1.1 = 0.22(assume investment gain only RM6 million), estimate highest/lowest PE = 30.59/23.64 (DPS 0.2)
- Estimate next 4Q eps after 2010 Q3 result announced = 0.0439(after exclude RM48 million other income and used 27% VAT)*4*1.1 = 0.1932, estimate highest/lowest PE = 28.47/22.31 (DPS 0.15)
- Estimate next 4Q eps after 2010 Q2 result announced = 0.1841 (10% increase from 0.1674), estimate highest/lowest PE = 24.06/20.53 (DPS 0.15)
- Estimate next 4Q eps after 2010 Q1 result announced = 0.1724 (3% increase from 0.1674), estimate highest/lowest PE = 24.01/20.19 (DPS 0.14)
- Estimate next 4Q eps after 2009 Q4 result announced = 0.16, estimate highest/lowest PE = 26.25/21.5 (DPS 0.14)
- Estimate next 4Q eps after 2009 Q3 result announced = 0.16, estimate highest/lowest PE = 27.63/21 (DPS 0.15)
- Estimate next 4Q eps after 2009 Q2 result announced = 0.16, estimate highest/lowest PE = 28.56/22.81 (DPS 0.15)
- Estimate next 4Q eps after 2009 Q1 result announced = 0.16, estimate highest/lowest PE = 28.69/16.19 (DPS 0.17)

SPSETIA latest news (English)

SPSETIA latest news (Chinese)


Financial Quarter Summary   Open in New Window
a_dateyearqrth_pricel_pricedivroec_roerevc_revpbtc_pbtprofc_profepsc_epsassetc_assetliabc_liabminoequicfocficffcashfcfnetfinalsharec_sharem_capdategros_moper_mprof_mvatasset_tpenavpsntapsp/ntapscpsl_curl_quil_cashg_deg_daavg_winv_drec_dpay_d
2012-12-1220124N/AN/A0.093.69%11.45%76362325265951932825675051270263938160.06260.19969353304398044153141842950244-4754403912064569233280522648717138430426823603364313506612027890197335463878532012-10-3139.04%26.65%25.31%35.13%0.270115.78422.052.051.540.761.34920.79660.52321.31410.568240.8%358114302
2012-09-13201233.782.98-2.92%7.76%65419217629721456133742231004032667900.05090.13667786729407137037940421815705-33593992687286095192786014819911388049164176515977412282751972327195334074553962012-07-3133.62%22.63%22.26%31.68%0.3077-2.052.051.840.672.24231.43980.72910.94940.487294.1%322193239
2012-06-21201223.93.490.052.69%4.84%6171991108780127887228610923831663870.04700.08577128138363145933661911728622-2493376194797756154695112002651387220144919524893011382901965072194200675851772012-04-3031.91%20.86%20.72%28.90%0.3263-1.941.941.990.622.10081.29940.70810.89420.472281.8%311158195
2012-03-22201214.13.56-2.15%2.15%49158149158110072310072374004740040.03860.03865919698344464323724881281524-9125354721040689373151214216138710241384019962411874781918641191864174635132012-01-3130.09%20.79%20.49%28.68%0.3725-1.851.852.10.662.68791.87280.98950.66710.400898.1%242185180
2011-12-08201143.973.830.093.77%14.98%6333662232473109045430594824693279730.04400.18075585657333235821461711028054-6956343948664254785505266093993876321250544843413871971876037181539872415022011-10-3128.01%17.50%17.22%28.80%0.399721.36591.91.92.030.773.24142.34611.39720.62270.3842103.2%208157173
2011-09-22201133.92.97-4.17%11.21%5834691599107115816321548912442455030.04840.1366524944031930222035912938920-1679321352840188559806356434493885719617836816613070231886771179772957735192011-07-3130.63%18.90%19.85%21.83%0.4109-1.791.791.710.723.40072.32021.43980.63320.3878104.5%237137143
2011-06-09201124.243.060.054.21%7.05%4967531015638118334205733922231542600.05150.088051423713241605200118291679978314118923374534519360931193887611144849786314367391791194175229473438952011-04-3025.67%16.76%23.82%22.07%0.3867-1.791.792.290.833.53582.561.62960.63710.3892116.9%220153135
2011-03-17201116.694.01-2.83%2.83%518885518885873998739962037620370.05680.0568409861522102901842081848059792256534652991802902780009389931149913929915460021092655109265566324152011-01-3125.10%16.54%16.84%29.02%0.4638-2.072.072.930.572.60631.58630.7280.81640.449471.7%221135127
2010-12-09201046.935.40.143.69%12.36%5579981745870101370330967751562518130.07190.242943860622713952219671011779507921893523482422309701486856732731172722659579392301045533103687158340742010-10-3128.53%12.92%18.17%25.86%0.39822.97632.112.112.641.012.3041.57040.89861.00340.500888.0%239158148
2010-09-23201035.654.46-4.28%8.67%4149021187872106241229597872501766570.08430.170838897682252204178032988951179210943930615924153510192967213864624373056348331034539103419947174972010-07-3121.45%14.49%25.61%17.88%0.4066-2.042.042.240.662.5321.50330.77030.8440.457786.2%271143134
2010-06-17201024.583.930.062.51%4.39%4090747729707100412335651211894070.04940.08653746001212141316843938767493572061608223679115636134870672372108043268276455451035824103416741743702010-04-3023.20%16.25%17.36%27.88%0.3961-1.991.992.030.672.41961.41030.78820.81720.449783.9%279126142
2010-03-18201014.283.62-1.87%1.87%363896363896523525235238196381960.03700.0370382776621527741749295930293357207847159834769012266867246917067397356327341032523103252342849702010-01-3122.73%13.59%14.39%27.05%0.3727-2.012.012.060.682.31411.38970.75160.84180.45785.7%280143151
2009-12-10200944.343.580.092.88%8.67%393615140841569673231112568591712330.05480.167439522512337432191467380495535720375782761692102191572359083065950816736725031037859102272437259132009-10-3120.84%12.88%17.70%18.39%0.344121.4421.991.991.80.852.90381.75431.10010.93980.4845112.7%316133156
2009-09-17200934.573.51-2.16%5.79%31705688745953443152232426811143740.04130.1122349542619136741478658559906358201676881813155702082257524366243454216206641034246101939747575312009-07-3121.12%14.19%16.86%20.14%0.4085-1.981.982.320.623.41781.81781.14430.73330.42394.8%29591139
2009-06-18200924.723.80.052.05%3.63%3521516492255568410249840518716930.03980.070533821781783278141203750297035819701411030281177103436359023614682490455411911016806101676744536102009-04-3020.76%14.84%15.81%27.24%0.4178-1.941.942.260.543.54551.78471.09570.71680.417590.6%29783128
2009-03-19200914.762.76-1.58%1.58%297074297074468144681431175311750.03070.030733413341801398133497546144935820063591418178991584959028516481323305579551016730101673030705242009-01-3023.22%14.45%15.76%33.41%0.4078-1.971.971.530.563.90382.03881.23970.66550.399598.3%30592132
2008-12-10200843.622.890.14.13%11.59%4615101471357106125297867760782134560.07480.21043560884203502615851845635453581975700250107269839176145434107197321564135905201016698101451029585912008-10-3123.90%16.47%23.00%28.31%0.384513.83061.951.951.490.613.61112.03331.10490.80250.4452107.5%321133159
2008-09-25200833.42.24-2.22%7.46%30240390756954901188164408591373780.04020.13553398712187334714491726257653591949540149925187621209544397210376961718485690581016698101377633754372008-07-3123.84%15.21%18.15%25.58%0.3604-1.921.921.730.652.99371.59781.06080.74350.4264101.9%37593191
2008-06-24200823.482.650.072.61%5.24%3015096051666537313326347993965190.04720.0953324768618127501338941501523359190874511329110617919218139657471121992935958671015763101229835551702008-04-3026.47%18.98%21.68%26.59%0.3747-1.891.891.850.593.61451.91761.19480.70160.4123107.7%377103191
2008-03-27200814.33.28-2.64%2.64%303657303657678906789048526485260.04800.0480321761119956761290182450906492192742940695107462285014397617667672182476158641011003101100337204912008-01-3131.84%21.36%22.36%28.52%0.3736-1.911.911.930.634.42592.55181.41690.66960.401128.5%384148156
2007-12-12200747.73.120.15N/AN/A3171581153803108731328491997972600700.09890.2581288203217032301040657501461492184137521023946413600082937991638261038183976171008908100771577685912007-10-3139.44%30.28%34.28%8.12%0.400329.83581.831.834.210.43.39651.64290.80740.56530.3611104.2%413125168
2007-09-20200738.157.2-N/AN/A29463783664576580219760537681602730.05330.15902690353155741989917940545898717911743529842197757312937997749517642955631008908100779386766082007-07-3130.94%22.90%25.99%29.93%0.311-1.781.784.830.333.84111.99430.81170.50230.3342137.7%467203172
2007-06-2720072N/AN/A0.1N/AN/A28680254200880545143180597591065050.05920.105726266401412123888920378566130117377202478915705923712937999084832872105121008908100722583234912007-04-3029.75%23.23%28.08%25.81%0.2064-1.721.724.80.223.73021.6970.58830.51190.3384190.7%-273N/A
2007-03-2820071N/AN/A-N/AN/A255206255206626356263546746467460.04650.046526666541475531890493382904130117761611850713891111002937994616157163095151005613100561360336782007-01-3129.56%20.74%24.54%25.37%0.0957-1.761.763.410.323.85351.72870.83530.50170.3339428.1%-472N/A

Financial Quarter Balance Sheet   Open in New Window
yearqrtAmount due from jointly controlled entities (A-0)Amount Owing by Joint Venture Partner (A-0)Concession assets (A-0)Deferred tax 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)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 tax assets (A-1)Deposits with licensed banks (A-1)Inventories (A-1)Property development costs (A-1)Trade receivables (A-1)Deferred tax liabilities (L-0)Loans & borrowings (L-0)Other liabilities (L-0)Amount due to customers (L-1)Bank overdraf (L-1)Current tax liabilities (L-1)Loans & borrowings (L-1)Trade and other payables (L-1)Minority interest (M-1)
20124-1371411708937791891577726023104514037337-77315-25741181749493571875959420623552160665474399821952361745-602210484747916141598813754714754
20123-13573-867301881585783873093089412337-77539-51585175088587252226246511823646143352911989979931977344-6975820075900958316310845513359
20122-13432-911911882539373484092910886337-76605-51068276757464471440047758024372136096492895310701636499-710872285436767368538687002493
20121-12878-786091889513722910671964597337-74306-450813544369266114708575419256531018993103668510411089923-817164012223384123887746159125
20114-12674-669202279483572626411786029337-74062-495753510173190117936704509262888941898728599751117142-620536435173661997367683126956
20113-12606-649332273441822020791657958337-72050-468823647061761615594734276186509959017276339901096002-1171430895377372460136125611679
20112-12468-496002264437641719481547679337-72706-5741666735533974196629600021891587567070923123541082029-18207444422725427696354993378
201113880112308-449042256-1738001542379337-73540-558201845446399224785153410227838422566287901069992953-16753555851979125852249740879
2010430213--424652249-1165861371152337860108248-697751838041238434045646140236018404486691799791016335144671171076131588651305153428379
2010317400--542332286-158636129464533786310916424582226302418268317702669632240289262754804889588847714465013161432914938521645399079
2010217400--384882282-24540911858953378661339112394612534632482032780366263223808625184478432066804132144665561573815789387141451525357
2010117400--353742284-1984681246641337868173620238476239473178083557138137924553835404495634885816671144663573325011663415408463615357
20094159007166-331412282-1975871211522337870146014-394641936727522630656610315273188979494371379811107291144675371861679673144353457225357
200935756642-29020121125-1770041172741387873733851431411002213792946432069334603919272876621309711914916392144678351666911274101870422258358
200923456570-15638115387-175214121070539087573776160447474179022148472674733623622191863419278418112390649814461008212517759991259381513358
200919926550-14676110666-17022011545935518778081116564390411673172770258423992672673483384831079611788709021446-11860694269665372982358
200843046447-268292730-178236122005855388089821130953479109442150832546040759935178853984431990119410189991446804221100947483917441012358
20083421--27074160797-9440411148925528821263432228451502536225805227664380111599085750228330318688200931446-844101462981639445087359
20082756--26806156072-9443510489054628851066152395748281722194448200094047551687683417831197719558340171446-3112249247191431529359
20081368--20683150127-94408877499433887775302035112791723193171243914457311950682556645344694518283791446-182742479864583343251492
20074369--21926144444-9503285247947789063185285678301504242581236501622841932086004835797526375351131446-301620728120132357585492
20073408--528134203-1149158304911075892504221971032778-143797143381853312112972767941265724074898681446-27889938492113276072987
20072368--1192222603-1029308337593289895494811401030688-96122140831265792199574768536096123515065571446-625221097583262928911301
20071415--3296214387-1017778132459709897473971230840052-84472121972353802545878814827751622695038741446-721216165653822941451301

Financial Quarter Income Statement   Open in New Window
yearqrtRevenueIncome tax expenseCost of salesFinance/interest costsOther incomeAdministrative/Operating expensesMinority interestShare of profit/ (loss) of associatesSelling and distribution costsInvestment gain/loss
201247636236790246551510245237695626716461062093-
201236541924613043424224141366747169920238419-
201226171993695942026987715258375871455645831-
20121491581288863436701487123322844721671029596-
2011463336631404455975181212669376264828641583-
201135834692528540476725896224335827139410938145
20112496753261123692213822451926579182221438890
20111518885253623886323237456226333-7226834830
201045579982621439879024615066607500373141331757
20103414902189913259062287497521592051225248396
201024090741979431417621703440221181397586715
201013638961416328118622823177276497287835177
200943936151281531157322807710224061211664621274
2009331705610762250096651287719574-487752574211
20092352151151662790621861342317430-4168175321
20091297074156392281011936306426040-3230715792
2008446151030048351217177247922608615971298031281
2008330240314042230297451320823392-530959204041
20082301509173802217101998259318976-558461894560
20081303657193642069804079291627177-307275634044
2007431715888261920643684551196021087671139935378
2007329463722921203491394192719218109511263954402
20072286802207862014832351487144170758857666569
20071255206158901797692762037213391398431985990

Financial Quarter Segments Revenue
yearqrtOthersProperty developmentConstruction
201243683968694339841
201233408659258827518
201222693155954630722
201212593143576929881
201142784655908546435
201132644649805258971
201122796843318935596
201112349745085944529
201041954746708771364
201032184635322439832
201021404635133943689
201011064531512938122
20094715842637487424
200931912428435313579
20092246452775818261
200912117922862710110
200841936136602835367
200832582625229724280
200821882125152831160
200811612223506852467
200741401526130641837
200731202223479347822
200721346223890334437
200711544919214747610

Financial Quarter Segments Profit
yearqrtOthersProperty developmentConstruction
20124116131876804224
2012347221396753632
2012251451203853240
201214811909486441
201141663013486611220
201133739711512763
201123008815791329
201112354807622683
20104808814778558
20103234557106676
201029936537792
20101209646800559
200948324798395162
20093290442282180
20092128044510501
2009198435868821
200842159653813331
20083190643311785
200821334542451648
20081585622791989
2007411339496649
200731514636702148
20072854645691072
200711390472804140

Financial Quarter Segments Associate
yearqrtOthersProperty developmentConstruction
20124-10-
2012311-
20122---
20121---
20114---
20113---
20112---
20111---
2010415-
20103-5-
2010212-
20101-2-
20094-12305561
20093-5017140
20092-4000220
20091-2840481
20084-381816
20083-31702139
20082-25103074
20081-11401932
20074-44583213
20073-51501561
20072-75541749
20071142361521

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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