KLCI Stock - AMPROP / 1007 - 2013 Quarter 3

AMCORP PROPERTIES BERHAD


Company Description

The Group's principal activities are electrical and power engineering contracting, fabrication of electrical equipment and operation of golf, marina club, tour, travel and restaurant. Other activities include manufacturing of textile products, property development, property investment and provision of property management services. It 's also involved in confirming and factoring house, specialising in trade related activities, general trading, investment holding, information technology services, ,manufacturing of ready mixed concrete, advertising agency, trading, running a medical centre and clinic and operating toll. The Group operates in Malaysia, Hong Kong, Republic of China, and Singapore.

Company Info

Market Capital (Capital Size)	354,523,783 (Small)
Par Value	RM 0.50
Board	Main
Sector	Properties
Major Industry	Diversified business
Sub Industry	Property Development
Website	http://www.amdbgroup.com

My Analysis

Forecast P/E now	(0.615-0.0225)/0.1171 = 5.06 (Moderate)
Target Price	0.62+0.0225 = 0.64 (PE 5.3, EPS 0.1171, DPS 0.0225)
First Support Price	0.6
Second Support Price	0.56
Risk Rating	MODERATE

Accounting Ratio

Return on Equity	9.50%
Dividend Yield	3.66%
Gross Profit Margin	25.14%
Operating Profit Margin	15.42%
Net Profit Margin	49.56%
Tax Rate	-
Asset Turnover	0.2811
Net Asset Value Per Share	1.22
Net Tangible Asset per share	1.22
Price/Net Tangible Asset Per Share	0.5
Cash Per Share	0.16
Liquidity Current Ratio	4.0233
Liquidity Quick Ratio	1.6858
Liquidity Cash Ratio	0.9758
Gearing Debt to Equity Ratio	0.253
Gearing Debt to Asset Ratio	0.1984
Working capital per thousand Ringgit sale	115.6%
Days to sell the inventory	382
Days to collect the receivables	91
Days to pay the payables	109

Technical Analysis

SMA 10	0.618 (Downtrend)
SMA 20	0.626 (Uptrend 32 days)
SMA 50	0.552 (Uptrend)
SMA 100	0.521 (Uptrend)
SMA 200	0.486 (Uptrend)
MACD (26d/12d)	0.015936 ( 0.001467 )
Signal (9)	0.021974 ( 0.001509 )
MACD Histogram	0.006038 (Bearish trend 10 days)
Bolinger Upper Band	0.745
Bolinger Lower Band	0.507

My notes based on 2013 quarter 3 report (number in '000):-
- Estimate next 4Q eps after 2013 Q3 result announced = 0.1171, estimate PE on current price 0.615 = 5.06(DPS 0.0225)
- Estimate next 4Q eps after 2013 Q2 result announced = 0.0610*2 = 0.122, estimate highest/lowest PE = 5.47/3.59 (DPS 0.0225)
- Estimate next 4Q eps after 2013 Q1 result announced = 0.0362*4*0.9 = 0.1303, estimate highest/lowest PE = 3.89/3.28 (DPS 0.0225)

AMPROP latest news (English)

AMPROP 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	gros_m	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
2013-02-06	2013	3	N/A	N/A	-	2.27%	7.44%	27362	86970	13560	49724	15359	50337	0.0268	0.0878	891713	385468	176945	95810	15358	714768	8157	16959	70510	155157	8802	61708	93449	573198	573117	346784	2012-12-31	25.14%	15.42%	49.56%	-	0.2811	-	1.22	1.22	0.5	0.16	4.0233	1.6858	0.9758	0.253	0.1984	115.6%	382	91	109
2012-11-08	2013	2	0.69	0.46	-	2.10%	5.17%	30055	59608	15137	36165	14225	34978	0.0248	0.0610	884728	455472	184006	93402	15781	700722	4276	97783	65219	155816	102059	36840	192656	573071	573071	283670	2012-09-30	28.30%	35.76%	50.36%	4.07%	0.2842	-	1.2	1.2	0.41	0.35	4.8765	2.761	2.1515	0.2686	0.208	144.0%	335	77	100
2012-08-13	2013	1	0.53	0.45	-	3.07%	3.07%	29553	29553	21029	21029	20754	20754	0.0362	0.0362	892568	470756	194375	75001	15536	698193	5479	62188	37782	155442	67667	29885	185327	573081	573081	289405	2012-06-30	27.43%	61.25%	71.16%	1.06%	0.2867	-	1.19	1.19	0.42	0.32	6.2767	3.7052	2.4717	0.2847	0.2178	154.6%	325	127	106
2012-05-24	2012	4	0.545	0.45	0.0225	2.06%	17.58%	163677	256831	8404	101061	12082	103301	0.0211	0.1803	909650	424341	232990	78837	15416	676660	103154	26236	46210	30750	76918	123128	153878	573081	573082	260751	2012-03-31	7.92%	3.27%	5.13%	-	0.2823	2.5242	1.15	1.15	0.4	0.27	5.3825	2.9742	1.9664	0.3524	0.2561	134.5%	322	99	107
2012-02-21	2012	3	0.51	0.425	-	3.28%	15.52%	28124	93154	19493	92657	19299	91219	0.0337	0.1592	862731	486330	196299	134491	16223	666432	36243	72471	50704	30788	108714	58010	88798	573081	573083	275078	2011-12-31	23.08%	3.24%	69.31%	0.68%	0.1388	-	1.13	1.13	0.42	0.17	3.6161	2.2458	0.7304	0.3019	0.2275	293.8%	846	205	523
2011-11-23	2012	2	0.495	0.415	-	11.95%	12.24%	34586	65030	70683	73163	70246	71920	0.1226	0.1255	853041	475781	203560	139119	16176	649481	10256	77864	39806	30897	88120	48314	79211	573081	573084	249290	2011-09-30	33.56%	203.28%	204.37%	-	0.1074	-	1.11	1.11	0.39	0.14	3.42	2.1058	0.5942	0.3214	0.2386	367.5%	1153	269	818
2011-08-11	2012	1	0.515	0.395	0.0225	0.29%	0.29%	30445	30445	2480	2480	1675	1675	0.0029	0.0029	977652	555446	388228	348642	17388	589424	18143	14881	7469	30616	3262	4207	26409	573087	573087	280812	2011-06-30	34.12%	4.38%	8.15%	24.27%	0.0583	-	1.0	1.0	0.49	0.04	1.5932	1.4052	0.07	0.6787	0.3971	362.7%	686	443	794
2011-05-24	2011	4	0.64	0.43	-	N/A	N/A	26580	110111	45717	52331	47030	48681	0.0819	0.0847	966286	291025	378659	192589	17194	587627	22058	20541	5137	34274	1517	3620	30654	574188	574861	350254	2011-03-31	44.19%	182.26%	172.00%	-	0.0275	7.2033	0.99	0.99	0.62	0.07	1.5111	0.5817	0.2115	0.6638	0.3919	370.3%	4404	819	2471

Financial Quarter Balance Sheet   Open in New Window

year	qrt	Biological 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)	Long term project claims receivables (A-0)	Other investments (A-0)	Prepaid lease payments (A-0)	Property, plant and equipment (A-0)	Receivables (A-0)	Receivables, deposits and prepayments (A-0)	Cash and cash equivalents (A-1)	Completed development properties (A-1)	Current asset classified as held for sales (A-1)	Current tax assets (A-1)	Derivative assets (A-1)	Inventories (A-1)	Property development costs (A-1)	Trade receivables (A-1)	Deferred tax liabilities (L-0)	Hire purchase liabilities (L-0)	Loans & borrowings (L-0)	Long term payables (L-0)	Provision for retirement benefits (L-0)	Current tax liabilities (L-1)	Derivative liabilities (L-1)	Hire purchase liabilities (L-1)	Liabilities directly associated with assets classified as held for sale (L-1)	Loans & borrowings (L-1)	Trade and other payables (L-1)	Minority interest (M-1)
2013	3	-	5215	142969	152722	93222	52374	-	5513	-	48643	5587	-	93494	-	-	5700	-	30822	193125	62327	228	1725	76812	2370	-	891	-	713	-	30685	63521	15358
2013	2	-	5610	135817	43060	109715	75704	-	5543	-	49111	4696	-	200954	-	-	3667	-	7678	189909	53264	228	1607	86702	2067	-	1009	-	685	-	33681	58027	15781
2013	1	-	5622	129943	27382	130494	70435	-	5677	-	48235	4024	-	185379	-	-	3741	-	7591	185269	88776	228	1378	116068	1700	-	666	-	695	-	11391	62249	15536
2012	4	-	5719	125574	27546	198393	70769	-	7986	-	43591	5731	-	155023	-	-	9790	-	9460	180407	69661	228	1433	150640	1852	-	1166	-	698	-	14730	62243	15416
2012	3	-	5827	120868	-	109804	71052	-	7702	-	43906	17242	-	98232	-	130133	6332	-	8837	175450	67346	2119	1257	54976	3456	-	500	1182	645	-	18946	113218	16223
2012	2	-	5893	128603	-	103130	71715	-	7438	-	43942	16539	-	82664	-	130133	9581	3080	8837	173990	67496	2119	1027	58238	3057	-	832	-	529	-	8595	129163	16176
2012	1	-	5937	132486	-	37749	188650	-	7415	-	34111	15858	-	24410	-	386491	9772	-	9635	55913	69225	2100	1155	33116	3215	-	829	-	531	201762	70134	75386	17388
2011	4	3846	6063	126967	-	293084	188082	-	7336	-	34766	15117	-	40731	-	-	11673	-	13040	165961	59620	2463	1290	179669	2648	-	2976	-	542	-	89170	99901	17194

Financial Quarter Income Statement   Open in New Window

year	qrt	Revenue	Income tax expense	Cost of sales	Finance/interest costs	Other income	Administrative/Operating expenses	Minority interest	Share of profit/ (loss) of associates	Selling and distribution costs	Discontinued operation	Share of net profit of jointly controlled entity	Other expenses
2013	3	27362	1377	20483	2125	8717	9259	422	7152	278	-	4314	1840
2013	2	30055	616	21549	2147	12520	8167	296	5520	152	-	1015	1958
2013	1	29553	222	21447	2363	21223	9993	53	5809	504	-	518	731
2012	4	163677	4123	150710	1648	5412	11631	445	4707	646	-	-	757
2012	3	28124	133	21632	2517	2502	8583	61	22921	322	-	-	1000
2012	2	34586	545	22979	5295	73095	8068	982	5671	903	-	-	5424
2012	1	30445	602	20056	4376	611	7451	203	5521	784	-	-	1430
2011	4	26580	1942	14834	4561	47614	7391	629	1833	649	-	-	2875

Financial Quarter Segments Revenue

year	qrt	Property investment & development	Others	Infrastructure
2013	3	15578	-	11783
2013	2	15928	-	14128
2013	1	18139	-	11414
2012	4	140559	33	23084
2012	3	14294	12	13819
2012	2	21534	37	13014
2012	1	21958	6	8481
2011	4	12302	33	14245

Financial Quarter Segments Profit

year	qrt	Property investment & development	Others	Infrastructure
2013	3	7947	4086	14
2013	2	13295	4534	1549
2013	1	18482	1590	699
2012	4	6529	3622	1828
2012	3	1580	3263	306
2012	2	72125	3381	959
2012	1	4136	3228	169
2011	4	49889	2272	543

Financial Quarter Segments Associate

year	qrt	Property investment & development	Others	Infrastructure
2013	3	4314	2668	4484
2013	2	1015	733	4787
2013	1	518	628	5181
2012	4	-	551	4155
2012	3	-	18959	3962
2012	2	-	579	5091
2012	1	-	326	5196
2011	4	-	2851	1018

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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