Company Description PERISAI PETROLEUM TEKNOLOGI BERHAD is engaged in investment holding and the provision of management, administrative and financial support services to the subsidiaries. The Company provides technology solutions for pipe laying, de-commissioning of un-economic facilities, marginal field development and subsea technologies. It provides specialist services in areas that include manufacture, supply, commission and installation of corrosion control products; inspection and maintenance of pipes, pipelines, risers and heat exchangers; pipe laying services ranging from 6 inches to 60 inches; installation of top sides; decommissioning of facilities ( at the end of their useful life ); small and marginal field development solutions; enhanced oil recovery, and deep water technologies. In September 2008, the Company acquired SJR Marine (L) Ltd. In December 2008, the Company disposed Merit Composites Sdn. Bhd. In March 2008, it sold Corro-Shield (M) Sdn. Bhd. and Orinippon Trading Sdn. Bhd.
Company Info
Listing Date 2004-07-05 Market Capital (Capital Size) 904,120,948 (Medium) Par Value RM 0.10 Board Main Sector Industrial Products Major Industry Oil & Gas Services Sub Industry Bareboat Charter Website http://www.perisai.biz/
My Analysis
Forecast P/E now 0.965/0.079 = 12.22 (Moderate) Target Price 0.079*13.0 = 1.03 (PE 13.0, EPS 0.079) First Support Price 0.955 Second Support Price 0.9 Risk Rating MODERATE
Research House
Alliance Target Price 1.46 (2012-12-04) HLG Target Price 1.55 (2013-02-06) CIMB Target Price 1.63 (2013-02-08) HwangDBS Target Price 1.25 (2013-02-08) Kenanga Target Price 1.39 (2013-02-08) Maybank Target Price 1.4 (2013-02-08) RHB Target Price 1.34 (2013-02-08) TA Target Price 1.39 (2013-02-08)
Accounting Ratio
Return on Equity 23.80% Dividend Yield - Gross Profit Margin 67.74% Operating Profit Margin 24.65% Net Profit Margin 47.98% Tax Rate - Asset Turnover 0.1542 Net Asset Value Per Share 0.57 Net Tangible Asset per share 0.57 Price/Net Tangible Asset Per Share 1.69 Cash Per Share 0.03 Liquidity Current Ratio 1.9294 Liquidity Quick Ratio 1.9294 Liquidity Cash Ratio 0.0832 Gearing Debt to Equity Ratio 1.1703 Gearing Debt to Asset Ratio 0.5 Working capital per thousand Ringgit sale 160.0% Days to sell the inventory - Days to collect the receivables 364 Days to pay the payables 524
Technical Analysis
SMA 10 1.026 (Downtrend) SMA 20 1.06 (Downtrend 11 days) SMA 50 1.082 (Downtrend) SMA 100 1.043 (Uptrend) SMA 200 0.968 (Same) MACD (26d/12d) -0.027531 ( 0.003584 ) Signal (9) -0.016192 ( 0.002835 ) MACD Histogram 0.011339 (Bearish trend 16 days)Bolinger Upper Band 1.159 Bolinger Lower Band 0.961
My notes based on 2012 quarter 4 report (number in '000):- PERISAI latest news (English) PERISAI 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 2013-02-07 2012 4 N/A N/A - 6.21% 23.80% 31830 143540 15271 93234 24057 92175 0.0280 0.1081 1129248 578593 564595 299879 82230 564653 58791 145509 79907 37245 86718 6811 30434 858302 852530 828261 2012-12-31 67.74% 24.65% 47.98% - 0.1542 8.9253 0.57 0.57 1.69 0.03 1.9294 1.9294 0.0832 1.1703 0.5 160.0% - 364 524 2012-11-21 2012 3 1.16 0.955 - 5.53% 17.59% 47907 142339 25523 77982 21420 68118 0.0249 0.0801 1057032 146636 555692 272190 54650 501340 107849 144524 19066 37245 36675 17609 19636 858527 850561 995891 2012-09-30 70.31% 60.16% 53.28% 10.65% 0.1613 - 0.53 0.2 5.8 0.04 0.5387 0.5387 0.1217 1.244 0.5257 -73.6% - 243 859 2012-08-15 2012 2 1.17 0.88 - 6.04% 12.06% 47915 94432 26270 52459 23384 46698 0.0275 0.0552 1081081 136342 591688 283442 56086 489393 51565 144511 57306 37245 92946 35640 1605 851375 846535 804549 2012-06-30 71.84% 62.66% 54.83% 1.60% 0.1323 - 0.51 0.19 4.97 0.02 0.481 0.481 0.0561 1.3655 0.5473 -102.8% - 307 1106 2012-05-23 2012 1 0.96 0.835 - 6.02% 6.02% 46517 46517 26189 26189 23314 23314 0.0277 0.0277 1045658 110391 592702 448591 51474 452956 108964 144510 66164 37245 35546 30618 67863 841694 841694 744899 2012-03-31 72.08% 62.40% 56.30% 1.60% 0.1071 - 0.48 0.15 5.9 0.09 0.2461 0.2461 0.1636 1.4763 0.5668 -301.9% - 121 1584 2012-02-22 2011 4 0.965 0.8 - 7.88% 12.19% 28147 37771 23367 35249 18431 28497 0.0245 0.0397 792032 133354 404738 240744 58089 387294 51810 46675 6284 25826 5135 11419 37245 753483 717098 689436 2011-12-31 90.93% 101.51% 83.02% 9.03% 0.1044 23.025 0.46 0.29 3.16 0.05 0.5539 0.5539 0.1698 1.2294 0.511 -129.9% - 408 2478 2011-11-23 2011 3 1.04 0.62 - 2.14% 4.31% 20453 54508 3509 11902 4997 10066 0.0070 0.0146 736704 81002 375943 203176 49528 360761 20259 617 28112 25826 20876 7236 18590 712763 688783 445476 2011-09-30 71.54% 11.73% 17.16% - 0.1014 - 0.45 0.28 2.23 0.03 0.3987 0.3987 0.1034 1.2079 0.5103 -163.5% - 293 2193 2011-08-23 2011 2 0.72 0.455 - 3.36% 6.44% 16907 34055 8171 15411 7843 15063 0.0115 0.0223 422227 70470 163101 46621 - 259126 20822 57 28185 25826 20765 7420 18406 682800 676594 481374 2011-06-30 75.53% 55.05% 48.33% 4.01% 0.1704 - 0.38 0.27 2.61 0.03 1.5116 1.5116 0.4674 0.6294 0.3863 33.1% - 108 138 2011-05-26 2011 1 0.84 0.59 - 3.09% 3.09% 17148 17148 7240 7240 7220 7220 0.0108 0.0108 426585 68959 174444 48239 - 252141 6228 45 17110 25826 6183 10927 14899 670320 670320 499388 2011-03-31 74.19% 51.45% 42.22% 0.28% 0.172 - 0.38 0.27 2.76 0.03 1.4295 1.4295 0.4099 0.6919 0.4089 28.2% - 108 116 2011-02-25 2010 4 0.93 0.51 - 2.88% 4.26% 20216 75213 6399 9862 6929 10252 0.0105 0.0155 433693 66789 199941 61913 - 233752 82509 6651 57383 7351 75858 18475 25826 662000 662000 370720 2010-12-31 69.81% 39.01% 31.65% - 0.1734 36.1608 0.35 0.24 2.33 0.04 1.0788 1.0788 0.4235 0.8554 0.461 6.5% - 60 115 2010-11-25 2010 3 0.68 0.495 - 3.59% 1.38% 17696 54997 8530 3463 8630 3323 0.0130 0.0050 439151 76163 212293 120141 - 226858 71174 8053 71163 7351 63121 8042 691 662000 662000 347550 2010-09-30 72.56% 35.86% 48.20% - 0.1559 - 0.34 0.23 2.28 0.03 0.6339 0.6339 0.1412 0.9358 0.4834 -64.2% - 160 188 2010-08-27 2010 2 0.61 0.485 - 2.40% 4.97% 18299 37301 5766 11993 5766 11953 0.0087 0.0181 469425 76533 224315 87387 - 245110 50386 7562 56277 7351 42824 13453 6102 662000 662000 337620 2010-06-30 60.20% 46.71% 31.51% - 0.1524 - 0.37 0.26 1.96 0.02 0.8758 0.8747 0.1459 0.9152 0.4779 -15.2% 1 167 159 2010-05-27 2010 1 0.595 0.49 - 2.57% 2.57% 19002 19002 6227 6227 6187 6187 0.0093 0.0093 492141 96393 253341 90365 - 238800 20295 1 22185 7351 20294 1891 5460 662000 662000 344240 2010-03-31 60.78% 47.17% 32.77% 0.64% 0.176 - 0.36 0.25 2.08 0.03 1.0667 1.0656 0.2315 1.0609 0.5148 7.0% 1 142 158 2010-02-25 2009 4 0.69 0.42 - 3.62% 15.27% 13468 101181 7494 32495 7947 33478 0.0111 0.0589 527417 113797 286744 93041 - 240673 90909 28366 57101 1909 62543 5442 7351 714227 568165 339257 2009-12-31 22.46% 31.80% 55.64% - 0.1921 8.0614 0.42 0.29 1.64 0.02 1.2231 1.222 0.1911 1.1914 0.5437 20.5% 1 189 328 2009-11-25 2009 3 0.6 0.47 - 3.77% 18.89% 20749 87713 8069 39989 8272 41425 0.0125 0.0887 524152 45034 270782 107013 - 253370 81120 20954 67979 1909 60166 7813 5904 662400 466942 377568 2009-09-30 60.05% 48.30% 38.89% - 0.2227 - 0.54 0.38 1.5 0.01 0.4208 0.4199 0.0426 1.0687 0.5166 -53.1% 1 123 305 2009-08-27 2009 2 0.64 0.56 - 7.81% 15.12% 33396 66964 17036 31920 17123 33153 0.0389 0.0902 534415 54396 282030 90414 5846 252385 58236 18224 45712 1909 40012 5700 3791 439982 367593 266189 2009-06-30 70.03% 59.70% 51.01% 0.11% 0.2089 - 0.67 0.46 1.32 0.01 0.6016 0.6005 0.0252 1.144 0.5277 -32.3% 1 107 223 2009-05-26 2009 1 0.73 0.545 - 7.31% 7.31% 33679 33679 14884 14884 16030 16030 0.0544 0.0544 553906 66831 314153 59297 5951 239753 14228 6148 9066 1909 8080 986 923 294400 294400 166336 2009-03-31 69.59% 62.24% 44.19% 1.14% 0.1618 - 0.79 0.53 1.07 0.02 1.1271 1.1194 0.1238 1.3437 0.5672 8.4% 4 168 215 2009-02-26 2008 4 1.2 0.48 - 10.11% 20.86% 28908 72205 6570 12923 7398 15262 0.0251 0.0655 538918 71561 319642 108540 7266 219276 19396 39342 14544 7311 19946 5402 1909 294400 232855 161920 2008-12-31 68.35% 53.31% 22.73% - 0.1341 8.3914 0.91 0.58 0.95 0.01 0.6593 0.6563 0.0338 1.5077 0.5931 -51.2% 3 237 251 2008-11-28 2008 3 0.7 0.5 - 5.64% 10.75% 15660 43297 3537 6353 4125 7864 0.0187 0.0371 520601 91935 307838 82220 8029 212763 14516 25806 15765 7311 11290 4475 11786 220209 212100 149742 2008-09-30 30.46% 14.39% 22.59% - 0.1008 - 0.97 0.55 1.24 0.06 1.1182 1.1036 0.1564 1.5036 0.5913 18.5% 11 388 415 2008-08-28 2008 2 1.02 0.61 - 2.35% 5.11% 11385 27637 1290 2816 1717 3739 0.0083 0.0180 146560 76962 69390 53412 7238 77170 4401 14452 2952 7311 10051 7099 212 208000 208000 210080 2008-06-30 31.20% 3.03% 11.33% - 0.3598 - 0.34 0.31 3.26 0.04 1.4409 1.4132 0.1622 0.9922 0.4735 44.7% 15 315 375 2008-05-30 2008 1 1.36 0.99 - 2.76% 2.76% 16309 16309 1526 1526 2022 2022 0.0097 0.0097 118294 63052 43613 43504 6780 74681 6650 139 11313 7310 6511 4802 2508 208000 208000 278720 2008-03-31 29.61% 14.16% 9.36% - 0.4149 - 0.33 0.3 4.47 0.05 1.4493 1.4083 0.2532 0.6423 0.3687 39.8% 21 191 308 2008-02-27 2007 4 1.37 0.99 - 0.99% 15.55% 9130 37698 1104 18525 749 11758 0.0036 0.0565 103766 40559 30596 25370 6842 73170 18521 23412 37945 3323 41933 3988 7311 208000 208000 251680 2007-12-31 0.70% 3.53% 12.09% - 0.7384 21.405 0.32 0.29 4.17 0.05 1.5987 1.4863 0.4314 0.4613 0.2949 19.8% 21 127 80 2007-11-28 2007 3 1.67 1.17 - 5.53% 16.54% 15911 29923 5858 17410 4183 12507 0.0201 0.0601 190803 113589 98254 96677 25497 92549 10068 17629 3099 3323 7561 4462 1139 208000 208000 253760 2007-09-30 47.78% 27.11% 36.82% 6.88% 0.5477 - 0.32 0.21 5.81 0.02 1.1749 1.1412 0.0387 1.4653 0.5149 16.2% 16 112 49 2007-08-29 2007 2 1.33 1.11 - 5.71% 11.01% 7725 14012 5639 11552 4318 8324 0.0208 0.0400 195242 118918 108148 106725 24225 87094 10761 14765 6945 3323 4004 2941 6264 208000 208000 260000 2007-06-30 77.72% 41.55% 73.00% - 0.4538 - 0.3 0.19 6.58 0.02 1.1142 1.0839 0.0401 1.7202 0.5539 13.8% 18 99 40 2007-05-29 2007 1 N/A N/A - 5.30% 5.30% 43856 43856 8338 8338 4006 4006 0.0193 0.0193 187267 84049 105923 100380 22793 81344 5005 1248 2195 4915 6253 8448 3533 208000 208000 192400 2007-03-31 28.61% 20.27% 19.01% 31.37% 0.4319 - 0.28 0.17 5.44 0.03 0.8373 0.7976 0.0668 1.8091 0.5656 -20.2% 23 321 205 2007-02-27 2006 4 N/A N/A - N/A N/A 37018 116905 1453 5459 401 5004 0.0019 0.0241 172132 65705 96510 86110 21077 75622 18749 28315 9813 3076 9566 247 3323 208000 208000 218400 2006-12-31 11.16% 1.13% 3.93% - 0.2151 43.6451 0.26 0.15 7.0 0.05 0.763 0.7261 0.1182 1.7694 0.5607 -55.1% 35 516 364
Financial Quarter Balance Sheet Open in New Window
year qrt Deferred tax assets (A-0) Development Expenditure (A-0) Dry docking expenses (A-0) Goodwill on consolidation (A-0) Intangible assets (A-0) Investment in associated companies (A-0) Other investments (A-0) Property, plant and equipment (A-0) Cash and cash equivalents (A-1) Current asset classified as held for sales (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) 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) 2012 4 - - - - - 315 - 550340 24940 379996 - 132539 41118 - 264716 20 148840 77899 72330 790 82230 2012 3 - - - 274440 - 17339 - 618617 33125 - - 69773 43738 25211 258291 40 - 170401 96084 5665 54650 2012 2 - - - 274440 - 17336 - 652963 15913 - - 72881 47548 21587 286659 40 - 177791 100007 5604 56086 2012 1 - - - 274440 - 17364 - 643463 73403 - - 7954 29034 21167 122944 39 - 337866 105447 5239 51474 2011 4 - - - 121666 - 17361 - 519651 40880 - - 65886 26588 25187 138807 20 - 125735 111860 3129 58089 2011 3 4397 - - 121666 - 17367 - 512272 21016 - - 18263 41723 23075 149692 88 - 79998 118977 4113 49528 2011 2 5097 - - 74386 - 17331 - 254943 21792 27379 - 17017 4282 - 116480 87 - 39179 2820 4535 - 2011 1 5665 - - 74386 - 17340 - 260235 19775 27549 - 17322 4313 - 126205 122 - 40890 2189 5038 - 2010 4 5665 - - 74386 - 17365 - 269488 26220 28134 - 5518 6917 - 138028 103 - 53748 1203 6859 - 2010 3 5650 - 3475 74787 - 5966 - 273110 16969 29251 - 23716 6227 - 92152 709 76 103895 9576 5885 - 2010 2 5650 8440 4080 76127 - 5456 - 293139 12747 30959 99 23383 9345 - 136928 311 83 72414 5334 9245 - 2010 1 5650 8440 4475 76127 383 5325 - 295348 20920 41660 99 29083 4631 - 162976 401 81 74174 8397 7312 - 2009 4 5650 8440 5091 76127 383 5005 - 312924 17782 43498 99 24437 27981 - 193703 366 80 57577 22091 12927 - 2009 3 6522 13885 5657 76126 383 4528 - 372017 4564 1163 99 10588 28620 - 163769 165 77 75243 23858 7670 - 2009 2 6222 13075 3161 77066 383 - - 380112 2281 19184 99 3576 29256 - 191616 166 3885 61701 18321 6341 5846 2009 1 6226 12968 2047 77066 383 - - 388385 7343 17798 453 4011 37226 - 254856 260 4007 32599 16468 5963 5951 2008 4 6226 12866 1434 77066 383 - - 369382 3669 20691 326 9093 37782 - 211102 63 3571 77839 21291 5776 7266 2008 3 5256 11714 - 88203 383 - - 323110 12856 22068 1201 16903 38907 1 225617 - 3313 34291 35332 9284 8029 2008 2 3968 9558 - 5031 383 - - 50658 8661 21327 1479 11730 33765 - 15978 54 4411 11211 33763 3973 7238 2008 1 3754 8885 - 5031 383 - - 37189 11017 24615 1786 11374 14260 1 108 - 4522 13141 20569 5272 6780 2007 4 2747 8981 - 5031 587 - 3000 42861 10944 - 2852 5774 20989 181 5045 20 - 14256 6323 4771 6842 2007 3 1178 8410 - 22467 587 - 3000 41572 3743 74655 3261 3975 27955 338 1239 391 30331 55943 3498 6514 25497 2007 2 935 8380 - 22467 587 - 3000 40955 4275 87484 3241 3447 20471 162 1261 742 41565 57104 2430 4884 24225 2007 1 1760 8373 - 22467 587 - 3000 67031 6710 2125 3987 10409 60818 4207 1336 3980 - 60398 5592 30410 22793 2006 4 2351 8179 - 22467 587 - 3000 69843 10176 - 3177 6843 45509 3772 6628 1957 - 51385 8404 24364 21077
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 Gain/loss on disposal of subsidiaries Discontinued operation After tax effect 2012 4 31830 29133 10268 2698 19066 32781 20347 45 - 10167 - 2012 3 47907 2719 14222 3302 60 4922 1384 2 - - - 2012 2 47915 421 13492 3728 210 4608 2465 27 - - - 2012 1 46517 420 12988 2840 82 4584 2455 2 - - - 2011 4 28147 2110 2553 370 6906 3929 2826 3 - 4831 - 2011 3 20453 700 5820 1146 4551 21583 788 36 - - - 2011 2 16907 328 4137 1128 242 3704 - 9 - - - 2011 1 17148 20 4426 1558 222 4121 - 25 - - - 2010 4 20216 530 6103 2053 832 7058 - 564 - 1 - 2010 3 17696 100 4855 2696 907 20093 - 511 - 0 - 2010 2 18299 0 7283 2894 528 2996 - 131 - 19 - 2010 1 19002 40 7453 3055 1054 3640 - 320 - 1 - 2009 4 13468 872 10443 3067 1207 8515 419 409 0 1051 498 2009 3 20749 301 8289 2477 81 2519 98 332 - 192 - 2009 2 33396 18 10010 2602 65 3515 105 - - 298 - 2009 1 33679 169 10242 2749 740 3214 1315 - - 3330 - 2008 4 28908 137 9149 4692 3774 8123 691 - 1914 2234 - 2008 3 15660 1379 10890 659 540 3056 791 - - 1942 - 2008 2 11385 885 7833 169 98 3109 458 - - 1114 - 2008 1 16309 434 11480 630 293 2813 62 - - 153 - 2007 4 9130 1520 9066 1321 580 966 3373 - 5189 7936 - 2007 3 15911 403 8308 1190 92 3381 1272 - - 2734 - 2007 2 7725 111 1721 864 8 2802 1432 - - 3293 - 2007 1 43856 2616 31309 906 41 3700 1716 - - 356 - 2006 4 37018 253 32888 1033 338 4888 799 - - - -
Financial Quarter Segments Revenue
year qrt Others Investment holding Marine Vessels Corrosion control Offshore 2012 4 - 394 11813 - 19623 2012 3 - - 27884 - 20023 2012 2 - - 27968 - 19947 2012 1 - - 27152 - 19365 2011 4 - 16183 11964 - - 2011 3 - - 20453 - - 2011 2 - - 16907 - - 2011 1 - - 17148 - - 2010 4 - - 20216 - - 2010 3 - - 17696 - - 2010 2 - - 18299 - - 2010 1 - - 19002 - - 2009 4 653 - 12815 - - 2009 3 395 - 20354 - - 2009 2 53 - 33057 286 -
Financial Quarter Segments Profit
year qrt Others Investment holding Marine Vessels Corrosion control Unallocated Offshore 2012 4 - 9986 2620 - 17 17727 2012 3 - 4406 16318 - 38 13649 2012 2 - 2731 15807 - 4 13198 2012 1 - 3904 16046 - 18 14065 2011 4 - 21671 6551 - 24 - 2011 3 8 525 4025 - 1 - 2011 2 11 1533 9720 1 4 - 2011 1 5 3175 10447 2 29 - 2010 4 15 2613 7786 435 27 - 2010 3 7 9469 7987 498 8446 - 2010 2 109 1750 7763 108 11 - 2010 1 84 374 6404 288 6 - 2009 4 39 179 5773 2574 19 - 2009 3 107 1288 9286 94 1 - 2009 2 65 996 18793 462 1 -
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 
1 comment:
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