cwyeoh KLCI stock analysis

KLCI Stock - SIME / 4197 - 2012 Quarter 1

2012-01-27T15:58:00.000-08:00

SIME DARBY BERHAD

Company Description

SIME DARBY BERHAD, formerly Synergy Drive Bhd, is an investment holding company engaged in the trading and marketing of commodities. The Company operates in six segments: plantations, which is engaged in palm oil refining and fractionation, and oil palm cultivation; property, which is engaged in property development, management and investment, as well as the provision of golf and other recreational services; industrial, which is engaged construction of highways and railways, buildings, international airports and dams, powering marine engines for police launchers and fishing trawlers at sea; motor vehicles, which is engaged in the assembly and distribution of vehicles, provision of after-sale services, and hire purchase and lease financing; energy and utilities, which is engaged in engineering design and fabrication, system integration, power generation, treatment and supply of treated water, and general trading, services and others.

Company Info

Listing Date	1979-12-28
Market Capital (Capital Size)	54,505,836,947 (Very Large)
Par Value	RM 0.50
Board	Main
Sector	Trading/Services
Major Industry	Oil Palm & Others Crop
Sub Industry	Industrial Engineering Services
Website	http://www.simedarby.com/

My Analysis

Forecast P/E now	(9.07-0.3)/0.7863 = 11.15 (Moderate)
Target Price	12.58+0.3 = 12.88 (PE 16.0, EPS 0.7863, DPS 0.3)
Decision	BUY if MACD moving back to uptrend
Comment	Revenue decreased 15.3% but higher than preceding year corresponding quarter 27.5%, eps decreased 18.2% but higher than preceding year corresponding quarter 64.1%, cash generated from operating enough to cover financing expenses but still spent 7.4% of Group cash to cover investing expenses, slightly weaker liquidity ratio at low level now, lower gearing ratio at above moderate level now, all accounting ratio are good, most segment revenue lower than preceding quarter, CPO price uptrend at above 3.1k
First Support Price	9.0
Second Support Price	8.5
Risk Rating	MODERATE

Research House

AMMB Target Price	10.6 (2011-04-26)
CIMB Target Price	10.9 (2011-05-27)
OSK Target Price	8.47 (2011-05-30)
Credit Suisse Target Price	8 (2011-06-21)
Kenanga Target Price	11.06 (2011-07-26)
Affin Target Price	11.09 (2011-08-10)
HwangDBS Target Price	10.4 (2011-08-11)
UOB Target Price	10.4 (2011-09-21)
ECM Target Price	9.16 (2011-11-29)
HLG Target Price	9.08 (2011-11-29)
Maybank Target Price	8.5 (2011-12-15)
TA Target Price	10.1 (2012-01-04)
MIDF Target Price	11 (2012-01-10)
RHB Target Price	10.65 (2012-01-12)

Accounting Ratio

Return on Equity	16.83%
Dividend Yield	2.43%
Profit Margin	13.11%
Tax Rate	24.56%
Asset Turnover	1.0267
Net Asset Value Per Share	4.17
Net Tangible Asset per share	4.16
Price/Net Tangible Asset Per Share	2.13
Cash Per Share	0.87
Liquidity Current Ratio	1.7586
Liquidity Quick Ratio	1.019
Liquidity Cash Ratio	0.3987
Gearing Debt to Equity Ratio	0.715
Gearing Debt to Asset Ratio	0.409
Working capital per thousand Ringgit sale	22.2%
Days to sell the inventory	89
Days to collect the receivables	56
Days to pay the payables	75

Technical Analysis

SMA 20	9.091 (Uptrend 70 days)
SMA 50	8.929 (Uptrend)
SMA 100	8.609 (Uptrend)
SMA 200	8.711 (Uptrend)
MACD	0.128481 (Downtrend 8 days)
MACD Histogram	-0.014749 (Downtrend 6 days)

My notes based on 2012 quarter 1 report (number in '000):-
- Higher revenue and pbt than FY11Q1 mainly due to higher average crude palm oil (CPO) price realised of RM2,946 against RM2,511 per tonne and Fresh fruit bunches (FFB) production is higher by 8.2%, driven by both Malaysia and Indonesia of 7.3% and 10.1% respectively. Property got higher revenue due to higher percentage of property development works completed and sales in the Group’s property development townships at USJ Heights and Denai Alam

- Lower revenue and pbt than FY11Q4 mainly due to the lower average CPO price realised of RM2,946 per tonne as compared to RM3,114 per tonne in the preceding quarter. In addition, the midstream and downstream activities registered a higher loss of RM38.2 million as compared to RM27.5 million in the preceding quarter

- Estimate next 4Q eps after 2012 Q1 result announced = 0.1787*4*1.1 = 0.7863, estimate PE on current price 9.07 = 11.15(DPS 0.3)
- Estimate next 4Q eps after 2011 Q4 result announced = 0.6098*1.1 = 0.6708, estimate highest/lowest PE = 13.27/9.99 (DPS 0.3)
- Estimate next 4Q eps after 2011 Q3 result announced = (0.146+0.1365)*2 = 0.565, estimate highest/lowest PE = 16.27/14.94 (DPS 0.11)
- Estimate next 4Q eps after 2011 Q2 result announced = (0.146+0.1089)*2 = 0.5098(cpo price decreasing but offset by contracts awarded), estimate highest/lowest PE = 18.22/17.01 (DPS 0.11)
- Estimate next 4Q eps after 2011 Q1 result announced = 0.1271*4*1.1 = 0.5592(ROE 3.5% per quarter with condition CPO price continue maintain high), estimate highest/lowest PE = 16.79/15.22 (DPS 0.1)
- No estimate next 4Q eps after 2010 Q4 result announced
- No estimate next 4Q eps after 2010 Q3 result announced
- Estimate next 4Q eps after 2010 Q2 result announced = 0.37, estimate highest/lowest PE = 22.22/19.59 (DPS 0.22)
- Estimate next 4Q eps after 2010 Q1 result announced = 0.34, estimate highest/lowest PE = 26.44/23.76(DPS 0.2)
- Estimate next 4Q eps after 2009 Q4 result announced = 0.37, estimate highest/lowest PE = 24.43/21.59 (DPS 0.2)
- Estimate next 4Q eps after 2009 Q3 result announced = 0.34, estimate highest/lowest PE = 24.35/18.91 (DPS 0.27)

SIME latest news (English)

SIME latest news (Chinese)

Daily Palm Oil Prices

Crude Palm Oil Future

Financial Quarter Summary

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	liab	mino	equi	cfo	cfi	cff	cash	fcf	net	final	share	c_share	m_cap	date	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
2011-11-25	2012	1	N/A	N/A	-	4.14%	4.14%	11063600	11063600	1450500	1450500	1073700	1073700	0.1787	0.1787	43834100	17928800	829900	25905300	704400	1122900	55100	4930800	418500	363400	4567400	6009500	6009500	53364360	2011-09-30	13.11%	24.56%	1.0267	-	4.17	4.16	2.13	0.87	1.7586	1.019	0.3987	0.715	0.409	22.2%	89	56	75
2011-08-25	2011	4	9.2	7.0	0.22	5.29%	14.77%	13059000	41858800	2023100	5450600	1312600	3664500	0.2184	0.6098	42856500	18038900	787300	24817600	3702600	1798500	1471700	4467800	1904100	432400	4900200	6009500	6009500	52883600	2011-06-30	15.49%	31.79%	0.9969	14.4313	4.0	3.98	2.21	0.92	1.7598	1.0488	0.4191	0.7507	0.4209	23.5%	89	59	83
2011-05-27	2011	3	9.3	8.55	-	3.54%	10.14%	10598600	29664000	1266300	3447900	820100	2351900	0.1365	0.3914	40833200	17634900	726500	23198300	1899100	1412300	773200	4408900	486800	286400	4122500	6009500	6009500	54866735	2011-03-31	11.95%	32.31%	0.9521	-	3.74	3.72	2.45	0.79	1.6291	0.9303	0.3684	0.7848	0.4319	20.8%	90	61	81
2011-02-24	2011	2	9.4	8.78	-	3.86%	6.74%	10282500	19065400	1241000	2181600	877100	1531800	0.1460	0.2549	40097500	17359400	716900	22738100	1587400	1219600	23700	4411800	367800	391500	4803300	6009500	6009500	54205690	2010-12-31	12.07%	25.63%	0.894	-	3.66	3.65	2.47	0.92	1.6579	0.9815	0.4449	0.7883	0.4329	22.7%	90	62	82
2010-11-26	2011	1	9.49	8.61	0.08	3.00%	3.00%	8782900	8782900	940600	940600	654700	654700	0.1089	0.1089	38150200	16328400	685300	21821800	698500	624900	54500	4388800	73600	128100	4516900	6009500	6009500	52523030	2010-09-30	10.71%	26.87%	0.8912	-	3.52	3.5	2.5	0.84	1.6532	1.006	0.4423	0.7725	0.428	22.0%	83	62	77
2010-08-26	2010	4	9.16	7.78	0.03	0.37%	3.44%	9211800	32951600	25000	1741500	77400	726800	0.0129	0.1209	37577600	16446700	680800	21130900	3654300	2884700	539200	3131900	769600	1308800	4440700	6009500	6009500	47354860	2010-06-30	0.27%	313.20%	0.8769	65.1553	3.4	3.38	2.33	0.84	1.6419	0.9934	0.4438	0.8042	0.4377	22.1%	85	63	83
2010-05-27	2010	3	8.2	7.47	-	1.42%	3.71%	7570700	23739800	48900	1716500	308600	804200	0.0514	0.1338	37456000	15790400	688800	21665600	2359500	1193400	618000	3184800	1166100	1784100	4968900	6009500	6009500	47054385	2010-03-31	0.65%	-	0.835	-	3.49	3.47	2.26	0.91	1.7971	1.1372	0.5123	0.7528	0.4216	27.2%	89	72	78
2010-02-25	2010	2	8.93	7.47	0.07	1.91%	4.97%	8432700	16169100	783200	1765400	428200	1112800	0.0713	0.1852	36775900	14395800	660200	22380100	1455900	685400	371400	3282000	770500	1141900	4423900	6009500	6009500	50780275	2009-12-31	9.29%	40.65%	0.8478	-	3.61	3.59	2.35	0.81	1.8984	1.1944	0.4941	0.6628	0.3914	28.5%	88	75	76
2009-11-25	2010	1	9.19	8.28	-	2.98%	2.98%	7736400	7736400	982200	982200	684600	684600	0.1139	0.1139	36042900	13073200	662000	22969700	879900	364100	5200	3303200	515800	521000	3824200	6009500	6009500	53965310	2009-09-30	12.70%	26.61%	0.8336	-	3.71	3.69	2.43	0.71	1.7256	1.0423	0.405	0.586	0.3627	25.5%	93	75	77
2009-08-27	2009	4	9.24	8.19	0.153	4.47%	10.36%	7535000	31013900	1107700	3071600	984000	2280100	0.1637	0.3794	35439900	13434100	621000	22005800	937300	1582300	1857800	5767500	645000	2502800	3264700	6009500	6009500	49518280	2009-06-30	14.70%	8.88%	0.8751	21.7176	3.56	3.54	2.33	0.61	1.7009	0.9969	0.3429	0.6282	0.3791	24.0%	94	74	81
2009-05-25	2009	3	8.55	6.7	-	0.73%	6.31%	7474000	23478900	315500	1963900	150600	1296100	0.0251	0.2157	34082000	13529500	533800	20552500	347000	1051400	1365400	5728000	1398400	2763800	2964200	6009400	6009400	41765330	2009-03-31	4.22%	47.48%	0.9565	-	3.33	3.31	2.1	0.56	1.7827	0.9954	0.3404	0.6758	0.397	23.7%	95	68	72
2009-02-26	2009	2	7.05	5.3	0.05	1.35%	5.57%	7299900	16004900	395500	1648400	278500	1145500	0.0463	0.1906	34460500	13904300	533100	20556200	980000	805500	1275700	5683900	1785500	3061200	2622700	6009400	6009400	34554050	2008-12-31	5.42%	27.64%	0.9799	-	3.33	3.31	1.74	0.57	1.9338	1.1031	0.3626	0.6944	0.4035	25.9%	95	71	79
2008-11-28	2009	1	5.95	4.94	-	3.76%	3.76%	8705000	8705000	1252900	1252900	867000	867000	0.1443	0.1443	36923900	13878800	582800	23045100	200100	329600	152100	5740600	529700	681800	5058800	6009400	6009400	35154990	2008-09-30	14.39%	29.79%	0.9362	-	3.74	3.72	1.57	0.95	2.1046	1.3357	0.5981	0.6179	0.3759	30.5%	89	72	86
2008-08-26	2008	4	6.85	5.45	0.44	4.60%	15.82%	9121700	34044700	1453700	5206700	1021300	3512400	0.1699	0.5951	36537500	14332600	536300	22204900	3847200	1185500	2566600	5714100	2661700	95100	5809200	6009500	5902200	38761275	2008-06-30	15.94%	24.48%	0.9318	10.8385	3.67	3.66	1.76	1.08	2.0039	1.3013	0.6439	0.6614	0.3923	29.6%	87	68	94
2008-05-28	2008	3	9.55	6.25	-	5.30%	12.12%	8641100	24923000	1575300	3753000	1089600	2491100	0.1813	0.4249	33975300	13416200	474900	20559100	1901200	457600	1842800	5580000	1443600	399200	5180800	6009400	5862200	55586950	2008-03-31	18.23%	29.56%	0.9642	-	3.43	3.41	2.71	0.94	2.1252	1.4336	0.6613	0.668	0.3949	29.2%	74	72	82
2008-02-27	2008	2	11.9	8.5	0.05	3.96%	6.94%	8101300	16281900	1159500	2177700	800000	1401600	0.1327	0.2424	33290700	13088200	482400	20202500	993000	107400	1481000	5603000	885600	595400	5007600	6030500	5782400	72366000	2007-12-31	14.31%	27.23%	0.9373	-	3.41	3.4	3.53	0.92	2.148	1.4393	0.6839	0.6637	0.3931	29.8%	75	70	78
N/A	2008	1	N/A	N/A	-	N/A	N/A	8180600	8180600	1018200	1018200	601600	601600	0.1089	0.1089	N/A	N/A	-	N/A	569600	110800	546500	5632000	680400	133900	5765900	5521900	5521900	57427760	2007-09-30	12.45%	31.11%	N/A	-	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-	N/A	N/A
2007-08-28	2007	4	N/A	N/A	0.252	3.26%	12.20%	7836500	28230200	1087800	3572900	636700	2386400	0.1150	0.4388	33213800	13659700	2199800	19554100	2869800	162700	1262400	3855100	3032500	1770100	5625200	5534600	5438000	53132160	2007-06-30	13.88%	30.72%	0.6533	21.876	3.19	3.18	3.02	1.1	2.0163	1.3823	0.6942	0.7871	0.4113	41.1%	101	86	102
2007-05-30	2007	3	N/A	N/A	-	4.51%	16.51%	7086300	20393700	738400	2485100	477700	1749700	0.0880	0.3273	18929500	8333600	981500	10595900	1698400	77800	892000	3843900	1776200	884200	4728100	5430700	5346300	43988670	2007-03-31	10.42%	27.59%	0.7323	-	1.8	1.78	4.55	0.68	1.9068	1.2748	0.5579	0.8668	0.4402	43.4%	120	99	125
2007-02-28	2007	2	N/A	N/A	0.05	8.36%	12.36%	6775700	13307400	1115400	1746700	860100	1272000	0.1607	0.2388	18237300	7949800	974300	10287500	703100	193000	665500	3882200	896100	230600	4112800	5352400	5327700	38537280	2006-12-31	16.46%	15.64%	N/A	-	1.75	1.73	4.16	0.62	1.8074	1.0969	0.5157	0.8536	0.4359	N/A	-	N/A	N/A

Financial Quarter Balance Sheet

year	qrt	Available-for-sale investment (A-0)	Biological assets (A-0)	Deferred tax assets (A-0)	Derivative assets (A-0)	Goodwill on consolidation (A-0)	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)	Prepaid lease payments (A-0)	Property, plant and equipment (A-0)	Trade receivables (A-0)	Cash and cash equivalents (A-1)	Cash held under housing development act (A-1)	Current asset classified as held for sales (A-1)	Current tax assets (A-1)	Derivative assets (A-1)	Inventories (A-1)	Other receivables, deposits and prepayments (A-1)	Property development costs (A-1)	Trade receivables (A-1)	Deferred income (L-0)	Deferred tax liabilities (L-0)	Derivative liabilities (L-0)	Loans & borrowings (L-0)	Other long-term provisions (L-0)	Retirement benefits obligations (L-0)	Current tax liabilities (L-1)	Deferred income (L-1)	Derivative liabilities (L-1)	Dividend payable (L-1)	Liabilities directly associated with assets classified as held for sale (L-1)	Loans & borrowings (L-1)	Progress billings (L-1)	Provision for liabilities (L-1)	Trade and other payables (L-1)	Minority interest (M-1)
2012	1	150300	2439900	669500	-	-	84200	1472900	302700	402300	842000	1069700	12862000	381100	4600700	649800	761400	413600	98600	7631000	2070700	2108800	4822900	176300	486500	13900	3911000	66400	106600	719200	55900	145400	-	18800	3383900	45800	647300	8151800	829900
2011	4	125500	2429700	622400	-	-	86000	701000	280300	382400	893700	1206500	12516800	399200	4911300	616400	786000	390000	175900	7355400	2049300	2022500	4906200	173500	482400	22100	4007500	69000	93400	694500	77600	77200	-	22300	3054900	-	617000	8647500	787300
2011	3	185900	2406700	597900	3600	-	135600	723600	236900	468400	825800	1228200	12726000	327100	4165300	576700	14000	536000	178500	6567900	723100	2426700	5779300	165000	471400	34800	3939500	38800	114900	543500	66500	109000	480700	-	3154300	-	475200	8041300	726500
2011	2	182300	2396700	633700	10400	-	100800	712700	231100	468600	843400	1213300	12491500	320500	4838600	661100	9000	460600	111400	5849900	697600	2511300	5353000	162800	470800	51400	4161300	34600	118200	439200	69400	63600	-	-	3706700	-	484600	7596800	716900
2011	1	210800	2391700	616500	22800	-	107700	690800	219800	479600	802200	1225500	12122400	316400	4579600	488800	8100	525800	138600	5086800	588600	2329700	5198000	168500	491200	61000	3997400	34700	116500	373300	69400	91000	-	-	3604700	-	492800	6827900	685300
2010	4	155100	2417500	613700	-	-	108900	625500	215900	412100	674100	1290000	12130200	314700	4491200	542100	10500	552600	-	5216500	581600	2138300	5087100	159700	495100	-	4287300	51200	113100	331400	63400	-	-	-	3302300	-	519800	7123400	680800
2010	3	226300	2409200	547700	-	-	122100	641500	430100	399300	585900	2437600	10180200	304500	5012800	452000	3200	518400	-	4960900	559700	2079400	5585200	156900	512700	-	4318000	38400	96600	425000	72500	-	420700	-	2877600	-	760500	6111500	688800
2010	2	230600	2391500	533300	-	-	120900	594800	514200	407900	637800	2445600	9884100	227800	4450400	439000	5200	529300	-	4969500	367600	1997900	6028500	156900	497400	-	3689500	45900	109700	398300	70500	-	-	-	3297900	-	190600	5939100	660200
2010	1	231300	2369700	573200	-	-	124500	625200	521700	306600	604800	2425000	9799700	223700	3877900	402100	19500	520600	-	5325800	425500	1896400	5769700	150900	496000	-	1700300	44800	112500	434600	72400	-	-	4000	3964700	-	188200	5904800	662000
2009	4	220000	2323300	576000	-	-	129400	607100	530900	316400	605200	2422700	9439600	227100	3310000	327500	58500	593000	-	5626700	376800	1840900	5908800	155000	488600	-	2012800	57900	112500	388200	76400	-	-	-	3594200	-	204300	6344200	621000
2009	3	223100	2125300	725000	-	-	112100	656300	501400	299000	474500	2355900	8784900	200200	3012000	353100	98400	268100	-	5839000	350900	1944000	5758800	152800	802100	-	2508200	27300	152600	313200	-	-	225400	17100	3209400	-	177200	5944200	533800
2009	2	243000	2153300	755200	-	-	111200	644500	574600	300600	458800	2318000	8546600	216800	2979800	421100	26800	340500	-	5938900	336700	1852900	6241200	153100	774100	-	3423900	57600	116200	305200	-	-	-	-	2443500	-	147100	6483600	533100
2009	1	281600	2277900	617600	-	-	103500	1107200	39800	240200	546700	2451700	8942500	242400	5322400	381700	27200	203400	-	5523800	297600	1809600	6507100	151900	755100	-	3313700	28900	91600	685600	-	-	-	-	1600800	-	186200	7065000	582800
2008	4	316800	2245000	712000	-	-	81000	1109000	2100	209500	624000	2517400	8382700	191900	5994200	479500	20600	264400	-	5065700	197600	1998100	6126000	139000	750700	-	3189100	74700	125700	646800	-	-	-	-	1639900	-	163200	7603500	536300
2008	3	276000	3169900	680500	-	7100	60900	924100	2700	216900	690200	1482200	8113600	287200	5205900	414700	-	136900	-	4504000	281000	1375100	6146400	142400	855100	-	3812200	18400	88300	571600	-	-	222300	-	1002300	-	217800	6485800	474900
2008	2	277400	3222500	717300	-	3900	65000	918400	7800	177700	647000	1477100	8075900	281800	5098100	447700	-	140500	-	4373700	254200	1373300	5731400	139700	815500	-	3931300	39600	52900	422800	-	-	-	-	1421700	-	243600	6021100	482400
2007	4	389200	2238800	637900	-	-	86500	1021200	7700	159100	652100	2600400	7626700	99400	5666000	425900	785500	148000	-	4519800	137100	1044100	4968400	140300	921600	-	3706800	23600	91600	330300	-	-	98700	178700	2399300	-	163400	5605400	2199800
2007	3	343200	258300	366300	-	6500	69000	319900	6300	199300	299200	519100	3896400	-	3699700	-	833900	157300	-	3320700	127900	871100	3635400	-	207700	-	1493900	-	-	228700	-	-	91700	444500	1317500	-	164400	4385200	981500
2007	2	347200	256800	359100	-	6600	70500	304800	4400	202100	295300	519700	3798700	470400	3310500	-	24900	151000	-	3702600	142700	858300	3411700	-	212800	-	1318100	-	-	225600	-	-	-	-	1992200	-	158300	4042800	974300

Financial Quarter Income Statement

year	qrt	Revenue	Income tax expense	Finance/interest costs	Other income	Administrative/Operating expenses	Minority interest	Finance/interest income	Share of profit/ (loss) of associates	Discontinued operation	Interest on series B redeemable convertible preference shares	Share of net profit of jointly controlled entity
2012	1	11063600	356200	70300	193300	9777100	20600	40700	20600	15200	-	5100
2011	4	13059000	643100	95800	347100	11351400	67400	47800	19800	21500	-	18100
2011	3	10598600	409200	83800	288800	9620400	37000	36900	40500	-	-	5700
2011	2	10282500	318100	84200	201300	9224000	45800	37300	17600	-	-	10500
2011	1	8782900	252700	80100	269800	8072800	33200	34600	6600	-	-	400
2010	4	9211800	78300	72500	245500	9422600	24100	32700	23300	-	-	6800
2010	3	7570700	228600	71100	205800	7360100	31100	27100	26800	-	-	448100
2010	2	8432700	318400	77900	240200	7841000	36600	27200	7600	-	-	5600
2010	1	7736400	261400	56900	176400	6920000	36200	21300	21300	-	-	3700
2009	4	7535000	98400	57000	388600	6835900	25300	36600	41200	-	-	800
2009	3	7474000	149800	67800	202900	7250100	15100	23000	10500	-	-	77000
2009	2	7299900	109300	64800	284400	7189600	7700	46500	14300	-	-	4800
2009	1	8705000	373300	63000	138200	7601400	12600	52600	18200	-	-	3300
2008	4	9121700	355800	50800	243400	7974000	76600	63600	49100	-	0	700
2008	3	8641100	465600	52700	177000	7275600	20100	64200	20700	-	0	600
2008	2	8101300	315700	91200	209900	7137700	43800	56800	19600	-	0	800
2008	1	8180600	316800	72700	119900	7286100	99800	57700	18500	-	300	-
2007	4	7836500	334200	73300	465300	7247200	116900	74400	30700	-	300	1100
2007	3	7086300	203700	78300	117100	6474000	57000	54900	31900	-	300	200
2007	2	6775700	174400	77500	645800	6299900	80900	52700	18300	-	100	200

Financial Quarter Segments Revenue

year	qrt	Others	Elimination/Adjustment	Plantation	Healthcare	Property	Industrial	Motors	Energy & Utilities	Healthcare & Others
2012	1	47100	39000	3212800	86700	427600	3173900	3894100	260400	-
2011	4	-	-	4024300	-	753700	3284100	4580700	581900	133900
2011	3	-	-	3390200	-	483700	2303800	3536800	758100	126000
2011	2	-	-	3215400	-	428200	2328700	3615900	550900	143400
2011	1	50500	33200	2538400	78000	329000	2368200	3091900	252400	-
2010	4	-	-	2876200	-	588200	2271000	2998800	353300	124300
2010	3	-	-	2524000	-	520000	1873100	2374900	160100	118600
2010	2	-	-	2737200	-	405500	2086100	2527400	542100	134400
2010	1	-	-	2720300	-	270800	2001100	2167100	454600	122500
2009	4	-	-	2162700	-	514400	1951200	2188400	613500	104800
2009	3	-	-	2430200	-	326700	1857500	1889700	799100	170800
2009	2	-	-	2573800	-	335400	1898100	1475200	844300	173100
2009	1	-	-	3491200	-	231000	2163300	1957000	682500	180000
2008	4	-	-	3722400	-	544000	1790100	1935300	863800	266100
2008	3	-	-	3666300	-	347100	1686800	1935500	836400	169000
2008	2	-	-	3015400	-	234900	1830100	2057800	788900	174200
2008	1	-	-	2758200	-	294000	1915600	1997700	675800	539300
2007	4	-	-	2526100	-	482200	1500600	1942300	787700	597600
2007	3	-	-	1886200	-	427200	1893000	1718800	565900	595200
2007	2	-	-	3752400	-	784200	3275300	3356000	946900	1192600

Financial Quarter Segments Profit

year	qrt	Others	Elimination/Adjustment	Plantation	Healthcare	Property	Industrial	Motors	Energy & Utilities	Healthcare & Others
2012	1	1000	42100	938300	6800	53200	324200	153600	46800	-
2011	4	-	-	1269700	-	235700	362700	188700	25400	44700
2011	3	-	-	674100	-	64400	238000	161400	144600	11200
2011	2	-	-	827400	-	66800	217500	123700	38600	6400
2011	1	7400	10200	492700	7300	54300	227300	148800	49100	-
2010	4	-	-	390900	-	111500	216500	150100	730500	46500
2010	3	-	-	433800	-	183300	156500	81300	459300	42000
2010	2	-	-	642000	-	114800	189100	81300	176000	13500
2010	1	-	-	631100	-	41900	185800	62200	65500	16100
2009	4	-	-	544700	-	222700	225800	42400	60500	10500
2009	3	-	-	143200	-	83200	187300	23200	35200	10500
2009	2	-	-	139700	-	46400	189100	75700	19300	20800
2009	1	-	-	968200	-	58100	247300	36800	29300	800
2008	4	-	-	1023800	-	195200	201500	17100	81800	15200
2008	3	-	-	1266000	-	93900	129300	48900	17900	23600
2008	2	-	-	847500	-	33500	175600	60100	63800	83200
2008	1	-	-	695100	-	83300	178200	30300	61100	1400
2007	4	-	-	410700	-	190800	153300	41700	393500	6500
2007	3	-	-	379900	-	116700	186100	23700	62700	24900
2007	2	-	-	830000	-	197500	305500	2300	552300	800

Financial Quarter Segments Associate

year	qrt	Others	Plantation	Property	Industrial	Motors	Energy & Utilities	Healthcare & Others
2012	1	6100	5300	7300	5800	1100	500	-
2011	4	-	20200	10300	6000	3100	800	2500
2011	3	-	8500	13500	5500	3200	2100	13400
2011	2	-	8100	6600	6000	1900	1100	4400
2011	1	6100	700	4400	5000	2400	1200	-
2010	4	-	16800	6700	4800	3600	1900	100
2010	3	-	2000	12500	3200	3400	450400	8000
2010	2	-	5900	5200	300	2800	200	-
2010	1	-	2500	17100	2400	1600	700	700
2009	4	-	1600	18000	2300	300	5200	16200
2009	3	-	81800	2100	2900	100	4600	5600
2009	2	-	800	26300	3800	-	3800	15600
2009	1	-	5800	5100	3600	-	3900	3100
2008	4	-	37300	3600	3200	3700	900	1100
2008	3	-	3700	9300	3000	1600	1000	5900
2008	2	-	700	16000	2100	1000	1500	2500
2008	1	-	4600	7900	3100	300	600	2000
2007	4	-	24000	-	-	-	-	17000
2007	3	-	-	-	-	-	-	-
2007	2	-	-	-	-	-	-	-

Monthly Business Data

year	mth	Crude Palm Oil	Fresh Fruit Bunches	Palm Kernel
2011	12	202407	816765	45842
2011	11	211544	861316	47745
2011	10	233989	949868	52602
2011	9	251613	1029251	56988
2011	8	211341	841197	47786
2011	7	230875	912761	51352
2011	6	228254	912644	50729
2011	5	232136	916461	51715
2011	4	214931	866776	47617
2011	3	208606	862669	46595
2011	2	165949	678969	35898
2011	1	167468	701658	38574
2010	12	197260	800856	42687
2010	11	206522	864061	47287
2010	10	221007	934905	50774
2010	9	202782	873296	46576
2010	8	202970	866441	47501
2010	7	194338	832306	44062
2010	6	234419	813940	52208
2010	5	176488	738973	38958
2010	4	166509	693690	39130
2010	3	171330	722302	39348
2010	2	142725	595772	31624
2010	1	171680	716245	38169
2009	12	202400	840637	45413
2009	11	211849	901366	49401
2009	10	253563	1080224	57962
2009	9	202881	849367	44059
2009	8	217475	899486	47750
2009	7	208630	989125	45863
2009	6	227787	917894	49983
2009	5	202497	817104	44251
2009	4	179144	745192	41673
2009	3	172220	727448	42223
2009	2	156694	646557	35085
2009	1	181671	761660	42697

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

6-Months Historical Chart from shareinvestor.com

CURRENT

●CHANGES IN SHAREHOLDING
●ANNUAL REPORTS

HISTORICAL

●CHANGES IN SHAREHOLDING

ARCHIVES

●CHANGES IN SHAREHOLDING

1-Years Historical Chart from shareinvestor.com

5-Years Historical Chart from shareinvestor.com

KLCI Stock - ANNJOO / 6556 - 2011 Quarter 3

2012-01-26T16:42:00.000-08:00

ANN JOO RESOURCES BERHAD

Company Description

ANN JOO RESOURCES BERHAD is a Malaysia-based investment holding and property management company. It operates in two business segments: iron and steel, which is engaged in the manufacture and trading of hardware, steel and iron products, building and construction materials of all kinds and operations of steel mill and steel services centre, and investment holding, property management, plantations and others. Some of its wholly owned subsidiaries include AJE Best-On Sdn Bhd, which is engaged in trading in hardware, steel and iron products and building and construction materials of all kinds; Ann Joo Metal Sdn Bhd, which is engaged in trading, retailing, importing, exporting and supplying of all kinds of metal products, and Ann Joo (Sarawak) Sdn Bhd, which is engaged in trading in hardware and steel materials. In June 2007, the Company acquired the remaining interest in Ann Joo Steel Berhad. As of September 6, 2007, Ann Joo Corporation Sdn Bhd held a 66.54% interest in the Company.

Company Info

Listing Date	1996-11-26
Market Capital (Capital Size)	972,237,211 (Medium)
Par Value	RM 1.00
Board	Main
Sector	Industrial Products
Major Industry	Steel & Iron
Sub Industry	Property Management
Website	http://www.annjoo.com.my

My Analysis

Forecast P/E now	(1.86-0.07)/0.121 = 14.79 (High)
Target Price	1.69+0.07 = 1.76 (PE 14.0, EPS 0.121, DPS 0.07)
Decision	Not interested unless stock buying volume stronger than selling and got strong support at 1.8 above
Comment	Revenue increased 12.7% and also higher than preceding year corresponding quarter 87.2%, eps decreased 157.2 and was second consecutive quarter decreasing and also lower than preceding year corresponding quarter 248.4%, cash generated from operating more than enough to cover all expenses, weaker liquidity ratio at low level now, lower gearing ratio but still at high level now, lower inventory can indicate sales slow down
First Support Price	1.8
Second Support Price	1.6
Risk Rating	MODERATE

Research House

RHB Target Price	3.02 (2011-02-22)
OSK Target Price	2.89 (2011-02-25)
CIMB Target Price	3.74 (2011-05-27)
MIDF Target Price	2.8 (2011-05-27)
Affin Target Price	2.7 (2011-09-20)
HLG Target Price	1.34 (2011-11-25)
Maybank Target Price	1.3 (2011-11-25)

Accounting Ratio

Return on Equity	5.84%
Dividend Yield	5.56%
Profit Margin	-4.71%
Tax Rate	-
Asset Turnover	0.8024
Net Asset Value Per Share	1.4
Net Tangible Asset per share	1.38
Price/Net Tangible Asset Per Share	1.43
Cash Per Share	0.13
Liquidity Current Ratio	1.4253
Liquidity Quick Ratio	0.404
Liquidity Cash Ratio	0.0947
Gearing Debt to Equity Ratio	1.5305
Gearing Debt to Asset Ratio	0.604
Working capital per thousand Ringgit sale	21.0%
Days to sell the inventory	190
Days to collect the receivables	56
Days to pay the payables	31

Technical Analysis

SMA 20	1.83 (Uptrend 9 days)
SMA 50	1.844 (Downtrend)
SMA 100	1.973 (Downtrend)
SMA 200	2.345 (Downtrend)
MACD	-0.038709 (Uptrend 22 days)
MACD Histogram	0.026341 (Uptrend 15 days)

My notes based on 2011 quarter 3 report (number in '000):-
- Higher revenue mainly due to higher sales tonnage arisen from the recovery in international market and domestic demand

- Loss mainly attributable to an allowance for diminution in value of inventories of RM37.88 million to reflect the prevailing price level in view of the sharp contraction in international steel prices coupled with an unexpectedly weakened RM against USD that has resulted in recognition of an unrealized foreign exchange loss of RM22.52 million

- Estimate next 4Q eps after 2011 Q3 result announced = (37880+22520-29476)*0.83/763444*4*0.9 = 0.121, estimate PE on current price 1.86 = 14.79(DPS 0.07)
- Estimate next 4Q eps after 2011 Q2 result announced = 0.0477*4*0.8 = 0.1526, estimate highest/lowest PE = 16.56/11.25 (DPS 0.1234)
- Estimate next 4Q eps after 2011 Q1 result announced = (0.04+0.0602)*2 = 0.2004, estimate highest/lowest PE = 14.3/10.96 (DPS 0.1234)
- Estimate next 4Q eps after 2010 Q3 result announced = 0.04*4 = 0.16, estimate highest/lowest PE = 19.31/16.69 (DPS 0.06)
- Estimate next 4Q eps after 2010 Q2 result announced = 0.0517*4 = 0.2068(0.0517 is average eps of Q110,Q409,Q308, due to steel price decreasing), estimate highest/lowest PE = 15.91/11.9 (DPS 0.06)
- Estimate next 4Q eps after 2010 Q1 result announced = 0.0591*4 = 0.2364, estimate highest/lowest PE = 12.39/9.31 (DPS 0.03)
- Estimate next 4Q eps after 2009 Q4 result announced = 0.048*4 = 0.192, estimate highest/lowest PE = 15.68/13.54 (DPS 0.03)
- Estimate next 4Q eps after 2009 Q3 result announced = 0.0682*4 = 0.2728, estimate highest/lowest PE = 12.17/8.69 (DPS 0.03)

ANNJOO latest news (English)

ANNJOO latest news (Chinese)

Financial Quarter Summary

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	liab	mino	equi	cfo	cfi	cff	cash	fcf	net	final	share	c_share	m_cap	date	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
2011-11-24	2011	3	N/A	N/A	-	1.95%	5.75%	625204	1737068	29476	70552	20830	61506	0.0273	0.0806	2698830	1630060	3719	1068770	220935	85979	92939	59264	134956	42017	101281	763444	763452	1511619	2011-09-30	4.71%	-	0.8024	-	1.4	1.38	1.43	0.13	1.4253	0.404	0.0947	1.5305	0.604	21.0%	190	56	31
2011-08-26	2011	2	2.65	1.84	0.04	3.27%	7.40%	554715	1111864	42773	100027	36410	82335	0.0477	0.1078	2857926	1744571	3600	1113355	78372	57698	60739	59147	20674	81413	140560	763450	763457	1908625	2011-06-30	7.71%	14.51%	0.6558	-	1.45	1.44	1.74	0.18	1.4558	0.4012	0.1191	1.572	0.6104	28.7%	256	65	34
2011-05-26	2011	1	2.99	2.32	-	4.16%	4.16%	557148	557148	57253	57253	45925	45925	0.0602	0.0602	2686434	1582084	3444	1104350	109793	42875	64554	59147	66918	2364	61511	763463	763463	2214042	2011-03-31	10.28%	19.15%	0.7129	-	1.44	1.43	2.03	0.08	1.0293	0.2012	0.0423	1.4371	0.5889	2.3%	257	45	32
2011-02-24	2010	4	3.11	2.62	0.0634	0.09%	12.53%	428564	1831876	6232	154637	983	134707	0.0013	0.1764	2710723	1636073	14731	1074650	346311	155540	532370	28663	501851	30519	59182	763470	763553	2183524	2010-12-31	1.45%	80.04%	0.6758	16.2112	1.39	1.38	2.07	0.08	1.0234	0.2314	0.0393	1.5436	0.6036	2.0%	266	60	32
2010-11-26	2010	3	3.15	2.73	-	1.39%	13.26%	333934	1403312	17224	148407	14064	133725	0.0184	0.1751	2461611	1453164	14471	1008447	216322	119765	346860	28664	336087	10773	39437	763474	763581	2183535	2010-09-30	5.16%	21.90%	0.6824	-	1.3	1.29	2.22	0.06	1.0501	0.1681	0.0316	1.462	0.5903	4.1%	291	40	33
2010-08-03	2010	2	3.35	2.52	0.06	7.30%	11.72%	595431	1069378	81172	131182	74552	119660	0.0976	0.1567	2262171	1240914	15083	1021257	22487	77475	156843	28672	99962	56881	85553	763487	763634	1946891	2010-06-30	13.63%	7.36%	0.7638	-	1.32	1.31	1.95	0.12	1.1044	0.2417	0.0763	1.2333	0.5486	7.0%	241	40	34
2010-04-28	2010	1	2.96	2.23	-	4.69%	4.69%	473947	473947	50009	50009	45107	45107	0.0591	0.0591	2041323	1080264	14438	961059	112288	29132	25742	28672	83156	108898	137570	763784	763784	2176784	2010-03-31	10.55%	9.14%	0.7627	-	1.24	1.23	2.32	0.19	1.1096	0.3436	0.1423	1.1412	0.5292	7.0%	197	46	34
2010-02-25	2009	4	3.04	2.63	-	2.73%	4.50%	276394	1303005	28470	46391	25332	41664	0.0332	0.0545	1978262	1051825	14340	926437	284250	119469	173702	40698	164781	8921	31777	764030	764039	2139284	2009-12-31	10.30%	9.04%	0.6587	51.3467	1.19	1.18	2.37	0.05	1.0389	0.1714	0.0341	1.1532	0.5317	3.1%	260	37	38
2009-11-16	2009	3	3.35	2.4	0.03	5.28%	1.80%	382185	1026611	51390	17921	47995	16331	0.0628	0.0214	1818072	909201	13777	908871	365157	90920	277160	37463	274237	2923	34540	764036	764043	2101099	2009-09-30	13.45%	6.31%	0.6886	-	1.17	1.16	2.37	0.05	1.0416	0.2634	0.0425	1.0158	0.5001	2.9%	162	36	26
2009-08-25	2009	2	2.78	2.18	-	0.55%	3.67%	424299	644426	5184	33468	4730	31664	0.0062	0.0414	1836978	974065	13625	862913	310733	80681	206277	37697	230052	23775	61472	764043	764046	1757298	2009-06-30	1.22%	17.65%	0.8104	-	1.11	1.1	2.09	0.09	1.3957	0.4489	0.0962	1.1469	0.5303	18.0%	133	40	21
2009-05-26	2009	1	2.46	1.7	-	4.15%	4.15%	220127	220127	38555	38555	36297	36297	0.0475	0.0475	2066099	1190862	28610	875237	78095	64830	19920	37697	13265	33185	70882	764050	764050	1505178	2009-03-31	17.51%	-	0.8571	-	1.11	1.1	1.79	0.1	1.2918	0.3375	0.0864	1.4066	0.5764	15.1%	176	31	21
2009-02-23	2008	4	2.1	1.02	-	20.90%	17.02%	225389	2222054	325343	135930	191311	155812	0.2504	0.2040	2075091	1159575	-	915516	97481	265369	310959	92589	362850	51891	40698	764050	763902	901579	2008-12-31	144.35%	-	1.0708	5.7852	1.2	1.19	0.99	0.05	1.3618	0.2865	0.0448	1.2666	0.5588	15.1%	172	24	17
2008-11-27	2008	3	1.32	1.12	-	4.89%	31.56%	618851	1996665	86150	461273	53762	347123	0.0701	0.4544	2195321	1095454	36857	1099867	28039	148271	127766	92753	176310	48544	44209	766881	763852	973938	2008-09-30	13.92%	35.39%	1.2088	-	1.39	1.38	0.92	0.06	1.7086	0.3704	0.0501	1.0305	0.499	23.8%	202	38	23
2008-08-07	2008	2	3.76	1.08	0.12	16.41%	26.07%	706504	1377813	237384	375123	184715	293362	0.2385	0.3848	1909512	784144	36900	1125368	78992	11973	117013	92753	67019	49994	42759	774617	762320	2850590	2008-06-30	33.60%	19.59%	1.3156	-	1.43	1.41	2.61	0.06	2.2636	0.6872	0.0715	0.7204	0.4107	30.7%	173	54	26
2008-05-07	2008	1	4.18	3.38	-	10.89%	10.89%	671309	671309	137739	137739	108647	108647	0.1449	0.1449	1771244	773230	50181	998014	142419	9996	53024	92753	132423	79399	172152	750022	750022	2835083	2008-03-31	20.52%	16.66%	1.2266	-	1.26	1.25	3.02	0.23	2.04	0.858	0.2768	0.8158	0.4365	29.8%	144	43	25
2008-02-18	2007	4	3.82	2.87	0.08	8.35%	19.66%	656935	1947857	71041	233960	72797	171420	0.1420	0.3379	1687395	815383	44433	872012	115203	208428	164165	21649	93225	70940	92589	512655	507310	1671255	2007-12-31	10.81%	-	1.1544	9.6478	1.63	1.61	2.02	0.18	1.8309	0.639	0.1432	0.9853	0.4832	27.7%	163	41	24
2007-11-07	2007	3	4.46	2.37	-	6.51%	15.53%	477319	1290922	62153	162918	50151	119655	0.1492	0.3553	1586935	816410	50566	770525	56751	189342	126819	21650	132591	5772	15878	336069	336745	1391325	2007-09-30	13.02%	11.61%	1.0235	-	2.14	2.11	1.96	0.06	1.7517	0.4607	0.0386	1.134	0.5145	25.5%	181	52	24
2007-08-15	2007	2	4.2	3.88	0.08	5.12%	9.06%	366984	813604	54237	100766	39266	69505	0.1166	0.2062	1574200	807451	59064	766749	27092	176413	143204	21650	149321	6117	15533	336880	337013	1172342	2007-06-30	14.78%	14.21%	0.7286	-	2.1	2.07	1.68	0.05	1.6436	0.3899	0.0314	1.141	0.5129	32.3%	259	65	43
2007-05-30	2007	1	N/A	N/A	-	3.39%	3.39%	446620	446620	46529	46529	30239	30239	0.0869	0.0897	1442240	549462	224163	892778	78048	6472	74416	21650	84520	10104	31754	347905	337043	747995	2007-03-31	10.42%	12.66%	0.5408	-	1.98	1.98	1.09	0.09	1.795	0.6197	0.0696	0.8218	0.381	46.5%	278	116	47
2007-02-14	2006	4	N/A	N/A	0.06	3.06%	12.10%	333297	1438394	27576	127150	25919	102554	0.0768	0.3420	1487487	639780	211997	847707	115828	78558	31034	15414	37270	6236	21650	337499	299847	499498	2006-12-31	8.27%	-	0.2241	4.3272	2.12	2.11	0.7	0.07	1.6026	0.522	0.043	1.0064	0.4301	95.8%	689	269	120

Financial Quarter Balance Sheet

year	qrt	Biological assets (A-0)	Deferred tax assets (A-0)	Intangible assets (A-0)	Investment in associated companies (A-0)	Investment properties (A-0)	Other investments (A-0)	Prepaid lease payments (A-0)	Property, plant and equipment (A-0)	Rolls & Moulds (A-0)	Cash and cash equivalents (A-1)	Current asset classified as held for sales (A-1)	Current tax assets (A-1)	Derivative assets (A-1)	Inventories (A-1)	Other receivables, deposits and prepayments (A-1)	Deferred tax liabilities (L-0)	Employee benefits (L-0)	Loans & borrowings (L-0)	Bank overdraf (L-1)	Current tax liabilities (L-1)	Derivative liabilities (L-1)	Dividend payable (L-1)	Liabilities directly associated with assets classified as held for sale (L-1)	Loans & borrowings (L-1)	Payables and accruals (L-1)	Minority interest (M-1)
2011	3	-	19909	8151	1303	6994	252	12200	1125323	-	101281	-	1075	-	1092472	329870	16802	6249	537240	-	9499	-	-	-	881947	178323	3719
2011	2	-	6828	8289	1270	6994	304	12280	1104131	-	140560	-	1063	-	1244413	331794	17094	6772	540750	-	8564	-	-	-	1006086	165305	3600
2011	1	-	5979	8428	1186	6994	325	12360	1093786	-	63952	-	1854	-	1252927	238643	17250	7520	44260	-	4122	-	-	-	1353410	155522	3444
2010	4	-	9403	8566	1166	6994	303	12439	1070052	-	61572	-	1726	-	1239676	298826	16693	7591	46600	-	3699	-	-	-	1414644	146846	14731
2010	3	-	17242	8704	1124	5964	296	57881	917822	7957	43478	-	1479	-	1213378	186286	18260	7875	51280	-	10554	17	-	-	1225969	139209	14471
2010	2	-	16257	8843	1007	5964	227	58118	880062	7596	88660	1516	1595	117	1003119	189090	14680	8703	54790	2	10935	-	-	-	1008181	143623	15083
2010	1	-	13729	8981	853	5964	240	58356	837178	7807	142141	3004	1465	532	765066	196007	14875	8381	58300	1466	3357	-	-	-	862248	131637	14438
2009	4	-	14012	9120	775	5964	247	12646	868501	-	35031	3004	4970	-	890981	133011	16540	8232	-	-	1162	-	-	-	896385	129506	14340
2009	3	-	16395	9258	694	7480	248	59636	793612	8136	37660	-	72481	-	689298	123174	14404	8999	-	15	1438	-	-	-	775351	108994	13777
2009	2	-	19120	9396	622	7356	248	59879	787995	8252	65065	-	76940	-	640431	161674	14535	8857	274227	593	448	-	-	-	571985	103420	13625
2009	1	-	19643	9535	520	7356	248	60122	775158	8560	79219	3925	77320	-	875355	149138	14554	8557	250445	5336	98	-	-	-	807884	104184	28610
2008	4	-	18038	9673	506	7356	248	60366	709849	8559	41426	11190	69269	-	995316	143295	14619	8190	211153	728	396	-	-	-	827025	97464	-
2008	3	-	-	9950	483	16607	248	60608	576979	7647	44639	-	6380	-	1192645	279135	47441	10239	146531	430	57478	-	-	-	698883	134452	36857
2008	2	-	-	9820	427	16612	248	52451	440773	7259	43669	-	5572	-	962376	370305	47236	10419	116003	910	56393	-	-	-	409567	143616	36900
2008	1	-	117	10162	391	16619	249	52644	414828	6869	172213	99555	3672	-	735505	258420	46303	10135	94562	61	16870	-	-	26867	451757	126675	50181
2007	4	-	117	9791	356	16624	249	52840	412834	6635	92940	98958	4702	-	773326	218023	40623	9915	116003	351	10722	-	-	29654	496148	111967	44433
2007	3	51960	-	9791	152	13870	245	84690	453341	6770	21279	-	3419	-	712039	229379	59274	-	205607	5401	12625	-	-	-	437335	96168	50566
2007	2	52643	-	9378	142	13870	288	84983	459373	6032	18073	-	3370	-	722693	203355	57294	-	173671	2540	9439	-	-	-	445281	119226	59064
2007	1	53326	-	2127	138	13870	321	85275	462414	6358	31754	-	3854	-	535871	246932	58664	-	34860	-	3937	-	-	-	360531	91470	224163
2006	4	54009	-	2127	134	13870	322	93417	468347	5732	22798	-	8434	-	572842	245455	66648	-	43040	1148	3434	-	9855	-	415743	99912	211997

Financial Quarter Income Statement

year	qrt	Revenue	Income tax expense	Finance/interest costs	Other income	Administrative/Operating expenses	Minority interest	Share of profit/ (loss) of associates	Investment gain/loss	Gain/loss on disposal of non-current assets held for sale	After tax effect
2011	3	625204	8765	5635	1400	654182	119	-	32	-	3705
2011	2	554715	6207	6666	1931	510957	156	-	85	-	3665
2011	1	557148	10964	6285	8032	505287	364	-	20	-	3625
2010	4	428564	4988	3286	4542	427334	261	-	41	-	3705
2010	3	333934	3772	6023	15453	329962	612	-	117	-	3705
2010	2	595431	5975	4678	3820	517221	645	-	155	-	3665
2010	1	473947	4573	4377	2387	425650	329	-	78	-	3624
2009	4	276394	2575	4372	406	246571	563	-	81	-	2532
2009	3	382185	3242	4833	2208	330775	153	-	72	-	2533
2009	2	424299	915	6576	1586	416739	461	-	103	-	2511
2009	1	220127	1200	8215	2630	255680	1058	-	14	-	2569
2008	4	225389	129196	8713	1512	548532	4836	-	23	724	4254
2008	3	618851	30485	6165	4663	535509	1903	-	56	0	4254
2008	2	706504	46492	4585	6474	480779	6177	-	36	5527	4207
2008	1	671309	22954	5714	3850	543619	6138	-	35	8179	3699
2007	4	656935	6148	7074	5838	592248	4392	-	8	7582	-
2007	3	477319	7219	7068	2640	419002	4783	-	10	8254	-
2007	2	366984	7707	4357	2071	314550	7264	4	-	4085	-
2007	1	446620	5890	4272	3768	401244	10400	4	-	1653	-
2006	4	333297	5785	3837	1430	303283	7442	-	23	1866	1920

Financial Quarter Segments Revenue

year	qrt	Others	Elimination/Adjustment	Manufacturing	Trading
2011	3	7235	280067	723584	174452
2011	2	8065	122967	468670	200948
2011	1	8084	183553	555312	177305
2010	4	112290	168696	333854	151116
2010	3	7169	108445	253621	181589
2010	2	4732	66787	475600	191350
2010	1	224649	279758	408811	120245
2009	4	4949	44325	249654	66116
2009	3	62464	114778	353240	81259
2009	2	5185	45664	377483	87295
2009	1	10378	51558	181208	80099
2008	4	10188	19789	176193	58797
2008	3	16039	25100	553483	74430
2008	2	81926	102842	631916	95504
2008	1	3553	16710	604393	80073
2007	4	19512	9418	558788	60308
2007	3	133482	127290	414313	70094
2007	2	14133	26399	301132	86863
2007	1	9399	40330	389705	93645
2006	4	27317	43599	269182	86875

Financial Quarter Segments Profit

year	qrt	Others	Elimination/Adjustment	Manufacturing	Trading
2011	3	1554	-	30110	447
2011	2	2614	-	28143	14651
2011	1	2192	1780	42688	16505
2010	4	108431	112889	3225	6929
2010	3	1755	68	13463	3768
2010	2	102	69	68584	13291
2010	1	209507	209212	42767	7444
2009	4	525	3046	25239	7468
2009	3	57874	57808	45393	7762
2009	2	380	-	9065	579
2009	1	5532	4825	32151	1930
2008	4	1338	-	303027	20481
2008	3	6747	-	74185	19417
2008	2	5637	-	212265	24643
2008	1	3502	-	120952	13206
2007	4	18813	1550	64898	10090
2007	3	5383	-	52311	10834
2007	2	2796	-	42527	13171
2007	1	909	-	11633	37359
2006	4	103	-	23928	9414

CURRENT

●CHANGES IN SHAREHOLDING
●ANNUAL REPORTS

HISTORICAL

●CHANGES IN SHAREHOLDING

ARCHIVES

●CHANGES IN SHAREHOLDING

1-Years Historical Chart from shareinvestor.com

5-Years Historical Chart from shareinvestor.com

KLCI Stock - TGUAN / 7034 - 2011 Quarter 3

2012-01-25T16:32:00.000-08:00

THONG GUAN INDUSTRIES BERHAD

Company Description

THONG GUAN INDUSTRIES BERHAD is a Malaysia-based company. The Company is principally engaged in investment holding activities, and also in trading of plastic and paper products. It operates in three business segments: plastic products, which is engaged in the manufacturing and trading of plastic based products; food and beverages, which is engaged in the manufacturing and trading of consumer food products, such as tea, coffee, biscuits, snack food and curry powder, and operations of food and beverage outlet, and others, which is engaged in the manufacturing and trading of products, such as high-density monofilament ropes, polypropylene string, paper serviette, colonge paper towel, rubber band, drinking straw and machinery. The business segments are operated principally in Malaysia and China.

Company Info

Listing Date	1997-12-19
Market Capital (Capital Size)	129,401,535 (Small)
Par Value	RM 1.00
Board	Main
Sector	Industrial Products
Major Industry	Plastic Products
Sub Industry	Food & Beverage
Website	http://www.thongguan.com/

My Analysis

Forecast P/E now	(1.23-0.05)/0.2664 = 4.43 (Moderate)
Target Price	1.60+0.05 = 1.65 (PE 6.0, EPS 0.2664, DPS 0.05)
Decision	BUY if stock price near to SMA20 and buying volume stronger than selling
Comment	Revenue increased 11% and was second consecutive quarter increasing and also higher than preceding year corresponding quarter 15%, eps decreased 28.5% but higher than preceding year corresponding quarter 60.8%, cash generated from operating enough for financing expenses but still spent 22.4% of Group cash for investing expenses, weaker liquidity ratio but still at moderate level now, higher gearing ratio at below moderate level now, all accounting ratio are good, higher inventory can indicate Group products demand is good, plastics products division (main profit contributor) growth
First Support Price	1.18
Second Support Price	1.1
Risk Rating	MODERATE

Accounting Ratio

Return on Equity	11.61%
Dividend Yield	4.07%
Profit Margin	4.42%
Tax Rate	13.59%
Asset Turnover	1.5654
Net Asset Value Per Share	2.23
Net Tangible Asset per share	2.23
Price/Net Tangible Asset Per Share	0.52
Cash Per Share	0.4
Liquidity Current Ratio	2.3273
Liquidity Quick Ratio	1.3341
Liquidity Cash Ratio	0.4416
Gearing Debt to Equity Ratio	0.4579
Gearing Debt to Asset Ratio	0.314
Working capital per thousand Ringgit sale	23.9%
Days to sell the inventory	69
Days to collect the receivables	57
Days to pay the payables	51

Technical Analysis

SMA 20	1.194 (Uptrend 19 days)
SMA 50	1.164 (Uptrend)
SMA 100	1.12 (Uptrend)
SMA 200	1.096 (Uptrend)
MACD	0.024827 (Uptrend 1 day)
MACD Histogram	0.004747 (Uptrend 13 days)

My notes based on 2011 quarter 3 report (number in '000):-
- Higher revenue mainly due to the increase in export volume of the group's products (higher demand for the group's plastic packaging products)

- Higher pbt than FY10Q3 mainly due to the increase in revenue and better margin

- Lower pbt than FY11Q2 mainly due to the unrealised loss on derivatives contracts with a negative impact of RM1.43 million from the Group's hedging activities as the USD and JPY strengthen unexpectedly against the RM

- Estimate next 4Q eps after 2011 Q3 result announced = 0.2664, estimate PE on current price 1.23 = 4.43(DPS 0.05)
- Estimate next 4Q eps after 2011 Q2 result announced = (0.0603+0.0729)*2 = 0.2664, estimate highest/lowest PE = 4.73/3.3 (DPS 0.05)
- Estimate next 4Q eps after 2011 Q1 result announced = 0.2129*1.05 = 0.2235, estimate highest/lowest PE = 5.86/3.85 (DPS 0.05)
- Estimate next 4Q eps after 2010 Q4 result announced = 0.1935*1.1 = 0.2129, estimate highest/lowest PE = 4.93/4.23 (DPS 0.05)
- Estimate next 4Q eps after 2010 Q3 result announced = 0.045*4 = 0.18(profit margin around 4%), estimate highest/lowest PE = 5.67/4.89 (DPS 0.04)
- Estimate next 4Q eps after 2010 Q2 result announced = 0.04*4 = 0.16, estimate highest/lowest PE = 6.38/5.19(DPS 0.04)
- Estimate next 4Q eps after 2010 Q1 result announced = 0.1351*1.1 = 0.1486 (10% increase), estimate highest/lowest PE = 7.81/4.98 (DPS 0.04)
- Estimate next 4Q eps after 2009 Q4 result announced = 0.1351 (revenue growth but cost also increasing), estimate highest/lowest PE = 5.92/5.26 (DPS 0.04)
- Estimate next 4Q eps after 2009 Q3 result announced = 0.134, estimate highest/lowest PE = 6.42/5.45 (DPS 0.02)
- Estimate next 4Q eps after 2009 Q2 result announced = 0.1138, estimate highest/lowest PE = 7.73/6.63 (DPS 0.02)

TGUAN latest news (English)

TGUAN latest news (Chinese)

Financial Quarter Summary

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	liab	mino	equi	cfo	cfi	cff	cash	fcf	net	final	share	c_share	m_cap	date	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
2011-11-24	2011	3	N/A	N/A	-	2.34%	8.32%	142325	395154	6297	21788	5479	19500	0.0521	0.1854	341534	107254	72	234280	9232	15278	5500	51494	6046	11546	39948	105205	105205	122037	2011-09-30	4.42%	13.59%	1.5654	-	2.23	2.23	0.52	0.4	2.3273	1.3341	0.4416	0.4579	0.314	23.9%	69	57	51
2011-08-25	2011	2	1.31	0.93	-	3.32%	6.07%	128202	252829	8304	15491	7674	14021	0.0729	0.1333	324819	93648	-	231171	3804	6275	5313	50833	10079	4766	46067	105205	105205	104152	2011-06-30	6.48%	7.59%	1.5889	-	2.2	2.2	0.45	0.47	2.6062	1.516	0.6046	0.4051	0.2883	25.6%	66	51	38
2011-05-27	2011	1	1.36	0.91	-	2.85%	2.85%	124627	124627	7187	7187	6347	6347	0.0603	0.0603	309743	87145	-	222598	5647	3046	2671	50629	8693	11364	39265	105205	105205	110465	2011-03-31	5.77%	11.69%	1.6109	-	2.12	2.12	0.5	0.4	2.6391	1.6316	0.5561	0.3915	0.2813	24.8%	58	57	41
2011-02-25	2010	4	1.1	0.95	0.05	3.29%	9.40%	139486	488434	8439	22727	7133	20361	0.0678	0.1935	323176	106465	-	216711	37968	21757	1122	33816	16211	17333	51149	105205	105205	96788	2010-12-31	6.05%	15.48%	1.5114	4.7536	2.06	2.06	0.45	0.53	2.2421	1.3996	0.5894	0.4913	0.3294	24.0%	62	55	53
2010-11-30	2010	3	1.06	0.92	-	1.62%	6.30%	123787	348948	3550	14288	3407	13228	0.0324	0.1257	290468	80632	-	209836	21732	12166	288	33827	9566	9278	43105	105205	105205	102048	2010-09-30	2.87%	4.03%	1.5782	-	1.99	1.99	0.49	0.43	2.7431	1.7456	0.6705	0.3843	0.2776	25.7%	56	55	40
2010-08-26	2010	2	1.06	0.87	-	1.99%	4.63%	111067	225161	4408	10738	4220	9821	0.0401	0.0934	308432	96308	-	212124	1347	11188	13186	34237	9841	3345	37582	105205	105205	95736	2010-06-30	3.97%	4.26%	1.4204	-	2.02	2.02	0.45	0.39	2.4011	1.3732	0.4998	0.454	0.3123	26.5%	75	57	46
2010-05-27	2010	1	1.2	0.78	-	2.69%	2.69%	114094	114094	6330	6330	5601	5601	0.0532	0.0532	291492	83418	-	208074	2431	2704	3328	34297	5135	8463	25834	105205	105205	82059	2010-03-31	5.55%	11.52%	1.4723	-	1.98	1.98	0.39	0.28	2.5011	1.4992	0.3893	0.4009	0.2862	26.2%	69	67	52
2010-02-25	2009	4	0.84	0.75	0.04	1.52%	6.95%	109458	403060	3846	17509	3101	14209	0.0295	0.1351	288998	84591	-	204407	67620	5694	34666	7610	61926	27260	34870	105205	105205	84690	2009-12-31	3.51%	19.37%	1.3947	5.9603	1.94	1.94	0.41	0.37	2.4049	1.458	0.5142	0.4138	0.2927	26.4%	70	61	52
2009-11-20	2009	3	0.88	0.75	-	2.56%	5.55%	103464	293602	5581	13663	5117	11108	0.0486	0.1056	263089	62841	-	200248	59740	4466	40988	7631	55274	14286	21917	105205	105205	82059	2009-09-30	5.39%	8.31%	1.5395	-	1.9	1.9	0.41	0.25	2.7986	1.5468	0.4842	0.3138	0.2389	24.4%	64	50	34
2009-08-27	2009	2	0.9	0.775	-	2.28%	3.01%	102139	190138	5705	8082	4531	5991	0.0431	0.0569	271784	72890	-	198894	60786	3615	38497	7674	57171	18674	26348	105205	105205	82059	2009-06-30	5.59%	20.58%	1.7454	-	1.89	1.89	0.41	0.28	2.4255	1.4235	0.4444	0.3665	0.2682	19.7%	52	47	37
2009-05-28	2009	1	0.85	0.68	-	0.74%	0.74%	87999	87999	2377	2377	1460	1460	0.0139	0.0139	268151	71923	-	196228	36794	1431	28358	7631	35363	7005	14636	105205	105205	75747	2009-03-31	2.70%	38.58%	1.923	-	1.87	1.87	0.39	0.15	2.3574	1.2255	0.2496	0.3665	0.2682	17.0%	54	43	28
2009-02-27	2008	4	0.8	0.55	0.02	3.69%	2.42%	111419	564558	10126	3815	7067	4646	0.0672	0.0442	297774	106069	-	191705	2703	2160	5150	17644	4863	10013	7631	105205	105205	71539	2008-12-31	9.09%	-	1.896	15.3981	1.82	1.82	0.37	0.13	1.8435	0.9242	0.1338	0.5533	0.3562	14.8%	61	49	27
2008-11-28	2008	3	0.8	0.65	-	1.37%	5.84%	172802	453165	3489	13916	2721	11567	0.0259	0.1099	364160	166033	-	198127	10634	504	5188	17644	11138	5950	11694	105205	105205	84164	2008-09-30	2.02%	22.01%	1.6252	-	1.88	1.88	0.43	0.17	1.5819	0.7518	0.1136	0.838	0.4559	15.2%	84	60	58
2008-08-28	2008	2	1.0	0.795	-	3.01%	4.59%	143431	280363	7135	10427	5809	8846	0.0552	0.0841	332758	140078	-	192680	1071	203	6047	17644	868	5179	12465	105205	105205	89424	2008-06-30	4.97%	18.58%	1.6725	-	1.83	1.83	0.46	0.15	1.6757	0.7823	0.1246	0.727	0.421	15.5%	80	55	55
2008-05-29	2008	1	1.0	0.8	-	1.63%	1.63%	136932	136932	3292	3292	3037	3037	0.0289	0.0289	320276	133406	-	186870	5250	936	8838	17644	4314	13152	4492	105205	105205	91002	2008-03-31	2.40%	7.75%	1.6851	-	1.78	1.78	0.49	0.1	1.6554	0.8199	0.0881	0.7139	0.4165	14.6%	72	59	52
2008-02-29	2007	4	1.1	0.81	0.03	0.47%	6.53%	138651	518215	1395	14993	871	12008	0.0083	0.1141	336393	152529	-	183864	34014	9132	17775	10537	24882	7107	17644	105205	105205	86268	2007-12-31	1.01%	38.71%	1.5405	7.1842	1.75	1.75	0.47	0.24	1.529	0.7548	0.1862	0.8296	0.4534	14.1%	80	55	61
2007-11-23	2007	3	1.07	0.81	-	2.90%	6.09%	137515	379564	5390	12762	5308	11137	0.0505	0.1059	338722	155977	16	182745	23624	7707	11939	10537	15917	3978	14515	105205	105205	105205	2007-09-30	3.92%	1.52%	1.4854	-	1.74	1.74	0.57	0.18	1.5186	0.7073	0.1379	0.8536	0.4605	14.4%	89	58	66
2007-08-30	2007	2	1.13	0.985	-	1.38%	3.22%	126584	242049	3734	7372	2487	5819	0.0236	0.0553	337142	156548	26	180594	18268	5005	9199	10537	13263	4064	14601	105205	105205	N/A	2007-06-30	2.95%	33.40%	1.0844	-	1.72	1.72	N/A	0.19	1.5084	0.7496	0.1447	0.867	0.4643	19.4%	114	84	87
2007-05-31	2007	1	N/A	N/A	-	1.87%	1.87%	115465	115465	3638	3638	3332	3332	0.0317	0.0317	310277	132171	26	178106	20280	3325	13327	10537	16955	3628	14165	105205	105205	150443	2007-03-31	3.15%	8.41%	0.7704	-	1.69	1.69	0.85	0.17	1.591	0.8078	0.1602	0.7422	0.426	28.1%	147	112	105
2007-02-28	2006	4	N/A	N/A	0.03	1.54%	12.34%	123563	469514	6378	26905	2691	21572	0.0256	0.2050	312038	137264	26	174774	17436	24049	4707	12045	6613	1906	10139	105205	105205	150443	2006-12-31	5.16%	57.79%	0.396	6.974	1.66	1.66	0.86	0.14	1.5545	0.8129	0.1276	0.7855	0.4399	52.9%	283	238	178

Financial Quarter Balance Sheet

year	qrt	Other investments (A-0)	Prepaid lease payments (A-0)	Property, plant and equipment (A-0)	Cash and cash equivalents (A-1)	Current tax assets (A-1)	Deposits with licensed banks (A-1)	Inventories (A-1)	Trade receivables (A-1)	Deferred tax liabilities (L-0)	Loans & borrowings (L-0)	Current tax liabilities (L-1)	Loans & borrowings (L-1)	Trade and other payables (L-1)	Minority interest (M-1)
2011	3	1891	11596	103896	24374	2173	18156	95660	83788	7625	3317	1930	24230	70152	72
2011	2	2052	9188	99317	29568	2630	20136	89625	72303	7962	3474	1103	30325	50784	-
2011	1	2026	9164	99362	29099	2858	12870	76048	78316	7880	3789	495	20875	54106	-
2010	4	1966	9279	100323	49031	3013	6600	79511	73453	8051	4034	487	25363	68530	-
2010	3	1890	7473	95939	41514	3584	3750	67333	68985	7899	5230	-	19819	47684	-
2010	2	1985	7609	99531	34050	4305	7438	85322	68192	8160	5143	-	30789	52216	-
2010	1	2017	6665	95758	26715	4384	2400	74931	78622	8426	203	-	18475	56314	-
2009	4	2017	6826	97704	36059	3943	2950	71835	67664	8517	207	172	22332	53363	-
2009	3	2067	6723	100728	26570	2728	-	68690	55583	7732	235	2509	16212	36153	-
2009	2	1997	6993	103934	29108	2630	-	65624	61498	7078	316	4858	14527	46111	-
2009	1	2100	7127	106583	16128	2425	-	73144	60644	7044	256	3976	22926	37721	-
2008	4	2100	7012	106645	13215	1734	-	90770	76298	7044	291	3109	55193	40432	-
2008	3	2427	7030	110915	17508	454	-	127933	97893	8960	2961	3361	62638	88113	-
2008	2	2874	6763	109447	15887	-	-	113914	83873	8960	3601	3229	45466	78822	-
2008	1	2874	6801	111761	10585	-	-	100360	87895	9000	4287	2305	44660	73154	-
2007	4	2873	6847	115895	25666	415	-	106729	77968	9280	5398	2211	54285	81355	-
2007	3	2204	6879	117151	19300	-	-	113515	79673	9438	6615	255	55637	84032	16
2007	2	1273	6917	118946	20140	-	-	105637	84229	9738	7583	3085	55009	81133	26
2007	1	1401	6954	120959	18217	-	-	89079	73667	9739	8692	2106	48284	63350	26
2006	4	1368	6961	120633	15030	-	-	87336	80710	9738	9754	1941	60990	54841	26

Financial Quarter Income Statement

year	qrt	Revenue	Income tax expense	Cost of sales	Finance/interest costs	Other income	Administrative/Operating expenses	Minority interest	Finance/interest income	Share of profit/ (loss) of associates	Selling and distribution costs	Investment gain/loss	Other expenses
2011	3	142325	856	128814	205	3020	4890	38	140	-	5173	-	106
2011	2	128202	630	115265	171	5811	4508	-	104	-	4749	-	1120
2011	1	124627	840	108458	158	1385	10272	-	63	-	-	-	-
2010	4	139486	1306	123962	174	2321	9294	-	62	-	-	-	-
2010	3	123787	143	107030	214	360	13385	-	32	-	-	-	-
2010	2	111067	188	99258	128	1633	8928	-	22	-	-	-	-
2010	1	114094	729	100344	127	1108	8422	-	-	-	-	21	-
2009	4	109458	745	96851	105	1202	5572	-	-	-	4300	14	-
2009	3	103464	464	88627	147	624	4849	-	-	-	3653	17	-
2009	2	102139	1174	88301	153	422	4483	-	-	-	3930	11	-
2009	1	87999	917	78482	426	922	7639	-	-	-	-	3	-
2008	4	111419	3059	113975	712	2256	4409	-	-	-	4740	35	-
2008	3	172802	768	159120	460	287	4021	-	-	-	5476	51	-
2008	2	143431	1326	127705	645	44	3439	-	-	-	4491	28	-
2008	1	136932	255	124965	902	677	3995	-	-	-	4505	50	-
2007	4	138651	540	127956	2397	3837	5725	16	-	57	5106	34	-
2007	3	137515	82	124453	819	781	3614	0	-	38	4127	69	-
2007	2	126584	1247	114734	693	152	3611	-	-	128	3589	57	-
2007	1	115465	306	104816	959	794	3642	-	-	33	3296	59	-
2006	4	123563	3686	107829	1099	712	4859	1	-	143	4067	100	-

Financial Quarter Segments Revenue

year	qrt	Others	Food & Beverages	Plastics Products
2011	3	935	6620	134770
2011	2	1440	7888	118874
2011	1	1063	6400	117164
2010	4	1071	7492	130923
2010	3	1287	5027	117473
2010	2	976	5579	104512
2010	1	1424	5347	107323
2009	4	1352	5717	102389
2009	3	1156	5137	97171
2009	2	1198	5227	95714
2009	1	1233	5233	81533
2008	4	1216	4578	105625
2008	3	1061	5729	166012
2008	2	1248	6038	136145
2008	1	1108	5569	130255
2007	4	1646	5595	136202
2007	3	2897	6272	134140
2007	2	3342	2895	85262
2007	1	2206	5698	142646
2006	4	1259	4358	137972

Financial Quarter Segments Profit

year	qrt	Others	Food & Beverages	Plastics Products
2011	3	306	339	5717
2011	2	68	1076	7228
2011	1	95	175	7012
2010	4	24	433	8142
2010	3	35	130	3567
2010	2	44	111	4359
2010	1	-	243	6193
2009	4	21	34	3992
2009	3	27	63	5621
2009	2	20	135	5692
2009	1	15	144	2671
2008	4	1	241	9210
2008	3	36	181	3229
2008	2	68	424	7258
2008	1	38	376	3729
2007	4	1295	154	10407
2007	3	353	440	6015
2007	2	289	62	4147
2007	1	43	110	4352
2006	4	2657	128	4990

CURRENT

●CHANGES IN SHAREHOLDING
●ANNUAL REPORTS

HISTORICAL

●CHANGES IN SHAREHOLDING

ARCHIVES

●CHANGES IN SHAREHOLDING

1-Years Historical Chart from shareinvestor.com

5-Years Historical Chart from shareinvestor.com

KLCI Stock - GENTING / 3182 - 2011 Quarter 3

2012-01-24T16:57:00.000-08:00

GENTING BERHAD

Company Description

Genting Berhad is an investment holding and management company. The principal activities of the subsidiaries include leisure and hospitality, gaming and entertainment businesses, plantation, the generation and supply of electric power, property development and management, tours and travel related services, genomics research and development, investments and oil and gas exploration, development and production activities. The principal activities of the Company's associates include the generation and supply of electric power, resort, property investment and property development. The Company has over 4,500 hectares of prime resort land and about 134,000 hectares of plantation land. In September 2008, the Company acquired Ambani Limited. On October 17, 2008, the Company acquired Dragasac Limited. In July 2009, the Company placed Prime Venture (Labuan) Limited under member's voluntary winding-up. In November 2009, the Company announced that it has incorporated Resorts World Inc Pte Ltd.

Company Info

Listing Date	1971-12-28
Market Capital (Capital Size)	40,800,315,954 (Very Large)
Par Value	RM 0.10
Board	Main
Sector	Trading/Services
Major Industry	Leisure & Recreation
Sub Industry	Electric Power
Website	http://www.genting.com

My Analysis

Forecast P/E now	(10.98-0.08)/0.5792 = 18.82 (Moderate)
Target Price	11.58+0.08 = 11.66 (PE 20.0, EPS 0.5792, DPS 0.08)
Decision	Not interested unless stock price below SMA20 and buying volume stronger than selling or Bolinger upper band open higher
Comment	Revenue increased 15.3% and also higher than preceding year corresponding quarter 31.6%, eps decreased 11% and was second consecutive quarter decreasing and also lower than preceding year corresponding quarter 22%, cash generated from operating not enough to cover financing expenses hence still increased borrowings and spent 4.6% of Group cash to cover other expenses, weaker liquidity ratio from high to moderate level now, higher gearing ratio at high level now, all accounting ratio are acceptable, CPO price uptrend
First Support Price	10.56
Second Support Price	10.0
Risk Rating	MODERATE

Research House

Credit Suisse Target Price	13.5 (2011-01-13)
TA Target Price	13.26 (2011-02-18)
HwangDBS Target Price	14.3 (2011-02-24)
Macquarie Target Price	11.6 (2011-04-06)
CIMB Target Price	15.4 (2011-05-27)
UOB Target Price	13.63 (2011-06-13)
RHB Target Price	13.3 (2011-07-07)
AMMB Target Price	11.85 (2011-10-21)
ECM Target Price	9.83 (2011-11-25)
Maybank Target Price	10.14 (2011-11-25)
HLG Target Price	11.19 (2012-01-12)

Accounting Ratio

Return on Equity	8.12%
Dividend Yield	0.73%
Profit Margin	27.79%
Tax Rate	24.15%
Asset Turnover	0.3496
Net Asset Value Per Share	4.56
Net Tangible Asset per share	3.2
Price/Net Tangible Asset Per Share	3.21
Cash Per Share	4.43
Liquidity Current Ratio	2.8679
Liquidity Quick Ratio	2.7932
Liquidity Cash Ratio	2.3015
Gearing Debt to Equity Ratio	1.2584
Gearing Debt to Asset Ratio	0.4
Working capital per thousand Ringgit sale	71.6%
Days to sell the inventory	16
Days to collect the receivables	67
Days to pay the payables	124

Technical Analysis

SMA 20	10.963 (Uptrend 7 days)
SMA 50	10.744 (Uptrend)
SMA 100	10.183 (Uptrend)
SMA 200	10.528 (Same)
MACD	0.178081 (Downtrend 9 days)
MACD Histogram	-0.022628 (Downtrend 6 days)

My notes based on 2011 quarter 3 report (number in '000):-
- Higher revenue and pbt than FY10Q3 due to:
1. Higher hold percentage in the premium players business in leisure and hospitality business in Malaysia
2. Construction revenue and profit from the progressive development of the facility at Resorts World Casino New York City
3. Higher dispatch from the Meizhou Wan power plant and compensation from the Fujian provincial government in respect of an increase in tariff rate
4. Higher palm products prices and higher FFB production
5. Gain on disposal of available-for-sale financial assets of RM221.6 million

- Lower pbt than FY11Q2 mainly due to a softening of palm products prices during the period as market sentiment was affected by global economic uncertainties and concerns over the Eurozone debt crisis and lower gain on disposal of available-for-sale financial assets

- Estimate next 4Q eps after 2011 Q3 result announced = 0.1609*0.9*4 = 0.5792, estimate PE on current price 10.98 = 18.82(DPS 0.08)
- Estimate next 4Q eps after 2011 Q2 result announced = 0.1713*0.9*4 = 0.6167(exclude RM116.7 million one time gain), estimate highest/lowest PE = 17.77/13.44 (DPS 0.08)
- Estimate next 4Q eps after 2011 Q1 result announced = 0.7531*1.1 = 0.8284, estimate highest/lowest PE = 13.67/11.25 (DPS 0.078)
- Estimate next 4Q eps after 2010 Q4 result announced = 0.14*4*1.05 = 0.588, estimate highest/lowest PE = 19.91/16.59 (DPS 0.075)
- Estimate next 4Q eps after 2010 Q3 result announced = 0.0945*4 = 0.3781, estimate highest/lowest PE = 31.49/26.22 (DPS 0.075)
- Estimate next 4Q eps after 2010 Q2 result announced = 0.1985*4 = 0.794, estimate highest/lowest PE = 13.53/11.22 (DPS 0.075)
- Estimate next 4Q eps after 2010 Q1 result announced = 0.2813*1.15 = 0.3235(15% increased), estimate highest/lowest PE = 21.54/2 (DPS 0.072)
- Estimate next 4Q eps after 2009 Q4 result announced = 0.0661*4 = 0.2644, estimate highest/lowest PE = 26.77/23.18 (DPS 0.072)
- Estimate next 4Q eps after 2009 Q3 result announced = 0.0999*4 = 0.3996, estimate highest/lowest PE = 19.09/15.62 (DPS 0.07)
- Estimate next 4Q eps after 2009 Q2 result announced = 0.0577*4 = 0.2308, estimate highest/lowest PE = 33.23/27.64 (DPS 0.07)
- Estimate next 4Q eps after 2009 Q1 result announced = 0.0574*4 = 0.2296, estimate highest/lowest PE = 28.88/23 (DPS 0.07)

GENTING latest news (English)

GENTING latest news (Chinese)

Financial Quarter Summary

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	liab	mino	equi	cfo	cfi	cff	cash	fcf	net	final	share	c_share	m_cap	date	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
2011-11-24	2011	3	N/A	N/A	-	1.87%	6.54%	5143899	14495864	1429651	4863360	595034	2087061	0.1609	0.5633	53160182	21265578	14995529	31894604	4475437	4570372	595594	14861459	94935	690529	14170930	3699258	3705204	38028372	2011-09-30	27.79%	24.15%	0.3496	-	4.56	3.2	3.21	4.43	2.8679	2.7932	2.3015	1.2584	0.4	71.6%	16	67	124
2011-08-25	2011	2	11.04	8.37	0.035	2.12%	4.73%	4462807	9351965	1545904	3433336	670695	1491654	0.1808	0.4022	51919030	20355023	14766128	31564007	3030309	2860080	70009	14829664	170229	100220	14929884	3709100	3708905	36274998	2011-06-30	34.64%	22.69%	0.3341	-	4.53	3.19	3.07	4.49	3.0969	3.0162	2.5474	1.2118	0.3921	79.0%	17	63	127
2011-05-26	2011	1	11.4	9.4	-	2.69%	2.69%	4889158	4889158	1887703	1887703	821230	821230	0.2214	0.2214	50039365	19466402	14431324	30572963	1679596	1340838	313348	14565840	338758	25410	14591250	3708990	3708990	41169789	2011-03-31	38.61%	23.55%	0.3391	-	4.35	3.01	3.69	4.45	3.161	3.0778	2.6297	1.206	0.389	79.9%	18	59	135
2011-02-23	2010	4	11.78	9.83	0.045	1.58%	7.47%	4086714	15194737	1183024	4391393	465682	2200026	0.1256	0.5946	49014149	19567657	13949034	29446492	6281611	5063659	735027	14065628	1217952	482925	14548553	3707445	3700262	38483279	2010-12-31	28.95%	31.83%	0.31	17.4583	4.19	3.17	3.27	4.41	3.2611	3.1706	2.7703	1.2626	0.3992	87.9%	20	55	154
2010-11-25	2010	3	11.98	9.99	-	2.73%	6.21%	3909209	11108023	1416218	3207910	763743	1733885	0.2062	0.4683	48577297	20645902	12929054	27931395	4751630	4482226	1223962	13816831	269404	1493366	15310197	3704246	3702713	38524158	2010-09-30	36.23%	13.82%	0.2764	-	4.05	3.04	3.42	4.61	3.2575	3.1665	2.798	1.3762	0.425	102.6%	23	60	170
2010-08-26	2010	2	10.82	8.98	0.033	2.82%	3.72%	4085070	7198814	1589192	1791503	735234	969953	0.1985	0.2618	45751037	19661442	12224910	26089595	3299890	2695137	1718933	13927361	604753	2323686	16251047	3704714	3704613	33342426	2010-06-30	38.90%	11.12%	0.2606	-	3.74	3.06	2.94	4.67	3.9791	3.882	3.5786	1.4181	0.4297	120.9%	22	45	170
2010-05-27	2010	1	9.06	6.64	-	0.95%	0.95%	3113744	3113744	200026	200026	232434	232434	0.0629	0.0629	43232415	18661982	11800567	24570433	1271497	1766639	1868445	14092077	495142	1373303	15465380	3696367	3696367	24876549	2010-03-31	6.42%	117.28%	0.2299	-	3.45	2.79	2.41	4.29	4.9123	4.7674	4.4219	1.4614	0.4317	141.1%	28	45	138
2010-02-25	2009	4	7.15	6.2	0.042	0.95%	4.05%	2320097	8893617	585212	2525403	244952	1041294	0.0661	0.2813	43501048	17788643	11825274	25712405	2551828	5692386	8197409	9335774	3140558	5056851	14392625	3704808	3702304	23377338	2009-12-31	25.22%	32.40%	0.2044	22.4351	3.75	2.69	2.35	4.05	4.8154	4.6896	4.3665	1.2809	0.4089	147.4%	25	46	139
2009-11-25	2009	3	7.72	6.27	-	1.57%	3.37%	2401584	6573520	804225	1940124	370055	796275	0.0999	0.2151	39603966	15973889	9926007	23630077	2015801	4161512	5335399	9380446	2145711	3189688	12570134	3703675	3701570	26222019	2009-09-30	33.49%	23.76%	0.2263	-	3.7	2.65	2.67	3.57	5.0046	4.8528	4.5024	1.1656	0.4033	131.1%	26	42	110
2009-08-26	2009	2	7.87	6.44	0.03	0.94%	1.87%	2102698	4171936	569726	1135763	213768	426084	0.0577	0.1151	35961981	13122308	9609513	22839673	1253810	2466978	2520415	9406579	1213168	1307247	10713826	3701821	3700411	24432018	2009-06-30	27.09%	31.88%	0.2483	-	3.58	2.49	2.65	3.06	4.0659	3.9214	3.6094	0.9918	0.3649	107.8%	25	40	119
2009-05-28	2009	1	6.8	5.2	-	0.96%	0.96%	2069238	2069238	566013	566013	212292	212292	0.0574	0.0574	32815284	10606784	9296358	22208500	538818	931736	1150540	9453648	392918	757622	10211270	3698362	3698362	20156072	2009-03-31	27.35%	32.38%	0.2739	-	3.49	2.48	2.2	2.87	5.0347	4.8621	4.419	0.8215	0.3232	107.7%	23	43	82
2009-02-26	2008	4	5.65	3.08	0.04	0.56%	2.65%	2390173	9082508	108934	1733494	120784	567996	0.0327	0.1532	30450684	9037305	8971360	21413379	2518050	2623292	166988	9575505	105242	272230	9303275	3693700	3708114	13075698	2008-12-31	4.56%	-	0.2983	23.1106	3.36	2.41	1.47	2.6	5.0478	4.8528	4.3535	0.7264	0.2968	98.3%	25	44	86
2008-11-27	2008	3	4.4	3.52	-	0.19%	3.15%	2368817	6692335	219532	1841192	40589	687544	0.0110	0.1853	30351268	8557623	9187675	21793645	1828191	1377474	915512	9548666	450717	464795	9083871	3706472	3709638	16456735	2008-09-30	9.27%	68.90%	0.2946	-	3.4	2.27	1.96	2.56	4.4159	4.2545	3.7733	0.6789	0.282	95.9%	24	49	98
2008-08-28	2008	2	5.85	3.58	0.03	1.30%	3.28%	2159206	4323518	769490	1621567	289733	728040	0.0781	0.1962	30787854	8570213	9378780	22217641	1043006	668172	389722	9454078	374834	14888	9439190	3710559	3711332	19665962	2008-06-30	35.64%	28.45%	0.2857	-	3.46	2.23	2.38	2.64	4.4903	4.3421	3.8697	0.6675	0.2784	100.6%	24	50	88
2008-05-29	2008	1	6.2	5.15	-	2.05%	2.05%	2164312	2164312	852041	852041	438271	438271	0.1181	0.1181	29486560	8126609	9022079	21359951	448464	315469	166622	9264188	132995	33627	9230561	3712103	3712103	21715802	2008-03-31	39.37%	22.33%	0.2923	-	3.32	2.12	2.76	2.6	5.6073	5.3862	4.929	0.6587	0.2756	104.6%	27	38	77
2008-02-28	2007	4	6.9	5.7	0.043	2.38%	9.22%	2249584	8483821	907514	3221147	512906	1985556	0.1383	0.5360	30178847	8641591	9182307	21537256	2844129	1669155	280354	7856861	1174974	1455328	9312189	3708596	3704343	25403882	2007-12-31	40.34%	16.28%	0.2811	12.7797	3.34	2.07	3.31	2.63	3.7669	3.6222	3.3375	0.6994	0.2863	95.2%	27	36	88
2007-11-22	2007	3	8.2	6.8	0.3	1.23%	6.57%	2223793	6234237	353266	2312842	275134	1471859	0.0741	0.3968	31740997	9354885	9403827	22386112	2046233	773194	1887311	8018410	1273039	3160350	11178760	3710728	3709750	27830460	2007-09-30	15.89%	21.22%	0.2658	-	3.5	2.14	3.5	3.02	3.8069	3.6785	3.3871	0.7206	0.2947	110.1%	28	42	81
2007-08-23	2007	2	8.4	7.5	0.027	2.82%	6.24%	1980808	4010444	931638	1959480	541258	1196629	0.1458	0.3226	30027203	10837978	6849218	19189225	1232178	2353990	1472146	8037950	1121812	350334	8388284	3711086	3709608	30616459	2007-06-30	47.03%	22.76%	0.2069	-	3.33	1.83	4.51	2.25	2.6221	2.5211	2.0827	0.8783	0.3609	104.4%	35	50	97
2007-05-24	2007	1	N/A	N/A	-	3.54%	3.54%	2029636	2029636	1027577	1027577	655106	655106	0.1766	0.1766	28830964	10334159	6630211	18496805	675764	1585502	607213	8020389	909738	302525	7717864	3709748	3709748	29492496	2007-03-31	50.63%	22.13%	0.1468	-	3.2	1.76	4.52	2.07	2.6052	2.4922	2.0697	0.8709	0.3584	140.9%	54	59	143
2007-02-28	2006	4	N/A	N/A	0.04	3.02%	8.98%	2203308	6418628	913980	2734182	504008	1495902	0.7070	2.1109	28224739	11557862	5372217	16666877	2597387	4344405	3682905	5991251	1747018	1935887	7927138	712870	708643	23524710	2006-12-31	41.48%	20.70%	0.0781	15.6329	15.94	8.05	4.1	11.33	2.1849	2.0584	1.8565	1.0233	0.4095	234.0%	139	145	342

Financial Quarter Balance Sheet

year	qrt	Available-for-sale financial assets (A-0)	Deferred tax assets (A-0)	Derivative financial assets (A-0)	Exploration & evaluation assets (A-0)	Financial assets at fair value through profit and loss (A-0)	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)	Leasehold land use rights (A-0)	Other assets (A-0)	Plantation development expenditure (A-0)	Property, plant and equipment (A-0)	Amount due from associated companies (A-1)	Available-for-sale financial assets (A-1)	Cash and cash equivalents (A-1)	Current asset classified as held for sales (A-1)	Derivative financial assets (A-1)	Financial assets at fair value through profit and loss (A-1)	Inventories (A-1)	Other investments (A-1)	Property development costs (A-1)	Restricted cash (A-1)	Trade receivables (A-1)	Deferred tax liabilities (L-0)	Derivative financial liabilities (L-0)	Loans & borrowings (L-0)	Other liabilities (L-0)	Amounts due to Jointly Controlled Entities (L-1)	Current tax liabilities (L-1)	Derivative financial liabilities (L-1)	Dividend payable (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)
2011	3	2030576	146151	-	720409	-	5057968	868602	132865	979599	574184	136991	413299	943206	20732207	5365	1256756	14170930	70755	-	64816	520257	-	11913	897997	3425336	1862115	14838	11935870	331099	4506	354479	10798	96866	-	2503276	4151731	14995529
2011	2	2268059	142236	-	642507	-	4956265	890382	135371	794314	572745	130520	160006	900077	20084655	13944	814777	14929884	61042	-	78047	516841	-	10457	827973	2988928	1737368	2788	11745051	333536	4557	416773	1808	125058	-	2077425	3910659	14766128
2011	1	2415023	142992	940	595907	-	4979715	767685	136901	43024	573400	128213	147958	869898	19409489	7514	941601	14591250	76640	-	91756	509427	-	12464	871056	2726512	1656944	1800	11207131	327725	4810	293741	1433	-	-	2040541	3932277	14431324
2010	4	2591448	177010	1223	577221	1956	3779197	765874	62319	43293	571244	133852	267121	843631	19932467	7686	841961	14548553	76635	-	94806	520591	-	14162	881476	2280423	1481999	1655	11849364	326779	4476	218608	4252	-	-	1581668	4098856	13949034
2010	3	2447268	175185	-	480525	1888	3744899	736181	55421	43558	569820	106069	238707	791082	19310197	7577	770766	15310197	20113	2265	83593	538925	-	16432	908623	2218006	1293879	37279	12902435	310488	6539	253393	172794	91570	-	1555088	4022437	12929054
2010	2	1584166	137011	-	483233	2245	2519711	724560	40741	64681	582168	110057	182348	751061	19325096	7913	620839	16251047	-	-	137545	433798	-	35996	297548	1459273	1220373	64378	13195074	345384	4765	335735	169051	116446	-	702471	3507765	12224910
2010	1	1642007	110964	-	428661	3210	2453278	696400	40541	71226	583640	114757	287678	696063	18502449	8123	-	15465380	-	301	28540	473383	-	45654	350588	1229572	1261776	68074	13356850	392117	4329	261074	149152	-	-	735238	2433372	11800567
2009	4	1270128	94017	-	420640	-	3914148	672780	52125	71755	582386	114969	920514	650375	18190710	13542	-	14392625	-	-	-	387107	314093	44996	297502	1096636	1307923	-	12659486	385061	2315	199366	-	-	-	852533	2381959	11825274
2009	3	1275175	94828	-	384501	-	3905671	665900	22312	25283	580996	1886068	848598	614426	14616023	13351	-	9740508	-	-	-	388695	3203122	56804	266923	1014782	1311042	-	11436903	291804	-	256749	-	83154	-	713030	1881207	9926007
2009	2	704410	67957	-	455313	-	4006919	648238	22552	25494	578523	1879046	809578	570699	13427784	12569	-	7768098	-	-	-	393939	3245332	59589	318784	967157	1358370	-	8306238	318039	-	316531	-	110860	-	596271	2115999	9609513
2009	1	405781	55513	-	446563	-	3726250	625397	71593	25626	577201	1878575	565788	530232	11828198	12895	-	7571130	-	-	-	357849	2821607	56345	208771	1049970	1278802	-	6685739	243179	-	271269	-	-	-	677979	1449816	9296358
2008	4	415040	61683	-	420022	-	3523099	622134	71202	25970	579867	1850863	537581	518312	10691610	11300	-	6937177	-	-	-	376075	2529386	53986	135421	1089956	1226568	-	5414288	190857	-	251100	-	-	-	442335	1512157	8971360
2008	3	491771	50203	-	405320	-	4200000	608706	75807	26082	578143	1839811	292096	498909	10200104	10259	-	6674406	-	-	-	357454	2613155	47674	183695	1197673	1420874	-	4463481	163191	-	312120	-	82118	-	458806	1657033	9187675
2008	2	957021	30462	-	376258	-	4557131	608999	75505	24824	576893	1831296	371659	487558	9509991	8365	-	7344615	-	-	-	332908	2326319	42698	136583	1188769	1482655	-	4405642	147499	-	387244	-	117701	-	627786	1401686	9378780
2008	1	898949	31735	-	300278	-	4457851	599763	14507	25048	495006	1783756	365890	476735	9064352	1631	-	7438198	-	-	-	316333	2055173	116396	151874	893085	1473894	-	4552092	143779	-	298043	-	-	-	434651	1224150	9022079
2007	4	1505362	23878	-	312500	-	4689416	575189	15388	26099	495299	1767864	396116	469510	8903018	1776	-	7800851	-	-	-	311424	1789138	111150	155314	829555	1545734	-	4029373	146551	-	258076	-	-	-	1292713	1369144	9182307
2007	3	2122105	18936	-	-	-	5028187	474166	15730	29357	495794	1792818	308278	461573	8397061	28189	-	9343105	-	-	-	329865	1864752	94808	-	936273	1569310	-	4315550	161014	-	347897	-	72859	-	1640688	1247567	9403827
2007	2	-	15872	-	-	-	5553132	2482235	17710	29585	493356	1773514	290667	452310	8428899	31363	-	5256400	907533	-	-	310824	3075577	93070	-	815156	1661011	-	5027953	148359	-	394099	-	107939	144561	2245874	1108182	6849218
2007	1	-	14967	-	-	-	5348012	2429490	19388	29853	490236	1802258	275003	448694	8294414	31541	-	4719655	888038	-	-	325155	2969636	94457	-	650167	1665717	-	4801860	151386	-	246141	-	-	138100	2228620	1102335	6630211
2006	4	-	13113	-	-	-	5592350	2493900	1339	30106	488787	383087	280167	445248	8989327	19027	-	5386039	-	-	-	446601	2585537	104134	106791	859186	1720657	-	5304985	180894	-	165742	-	-	-	2825096	1360488	5372217

Financial Quarter Income Statement

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	Impairment loss	Discontinued operation	Gain/Loss on disposal of investment in an associate	Dilutive effects of outstanding employees' share options	Fair value gain on derivative financial instruments	Net gain arising from Deferred Consideration	Net gain on dilution of shareholding arising from bond conversions	Other expenses	Loss on discontinuance of cash flow hedge accounting using interest rate swaps
2011	3	5143899	345298	3320400	120400	127215	381391	489319	16705	25168	-	-	2158	8651	-	-	-	-
2011	2	4462807	350831	2726661	107771	213325	338422	524378	48388	0	-	-	2525	3237	-	-	-	-
2011	1	4889158	444599	2615822	148952	137948	371421	621874	858	3863	-	-	2946	2743	-	-	-	-
2010	4	4086714	376600	2227253	282204	53415	-	340742	1560	0	-	-	249	2361	0	0	301651	145445
2010	3	3909209	195666	2424189	180774	154735	-	456809	10693	250654	-	-	2175	1529	413601	0	212699	-
2010	2	4085070	176777	2101121	151915	116168	-	677181	18725	0	-	-	3938	748	-	0	374545	-
2010	1	3113744	234582	1785100	109006	90427	-	266990	26716	1303766	-	-	-	67132	-	436250	336371	-
2009	4	2320097	189605	1372699	73840	77423	-	150655	32599	0	-	-	448	-	-	-	397920	-
2009	3	2401584	191098	1389749	56724	98009	-	243072	9503	126551	-	-	1273	-	-	4893	135467	-
2009	2	2102698	181633	1274096	63822	6415	-	174325	30580	0	-	-	725	-	-	1381	171545	-
2009	1	2069238	183267	1304598	67024	89469	-	170454	8906	30425	-	-	827	-	-	-	198726	-
2008	4	2390173	190937	1481812	64247	103456	-	179087	8656	781502	-	-	0	-	-	0	283658	-
2008	3	2368817	151250	1540387	69279	65892	-	108871	23013	396340	-	-	212	-	-	13790	245762	-
2008	2	2159206	218925	1233920	68509	63862	-	260832	16610	-	-	-	1309	-	-	6966	173416	-
2008	1	2164312	190263	1281821	67364	140134	-	223507	26028	-	-	-	1144	-	-	24387	152491	-
2007	4	2249584	147730	1318877	76272	209936	-	246878	32400	0	555	0	1536	-	-	43461	230627	-
2007	3	2223793	74970	1299342	124853	119432	-	3162	32369	937840	12331	337061	92	-	-	137058	121989	-
2007	2	1980808	212034	1197798	100536	92208	-	178346	15427	-	16505	-	1244	-	-	298080	171812	-
2007	1	2029636	227429	1189430	93758	139983	-	145042	20080	-	173672	-	1589	-	-	510691	174204	-
2006	4	2203308	189183	1256663	90722	434587	-	220789	161274	13542	5962	-	2026	-	-	-	193726	-

Financial Quarter Segments Revenue

year	qrt	Others	Elimination/Adjustment	Manufacturing	Leisure & Hospitality in Malaysia	Leisure & Hospitality in UK & Others	Plantation	Oil & Gas	Leisure & Hospitality in Singapore	Power	Property	Investment & Others	Leisure & Hospitality	Leisure & Hospitality in United States of America & Others
2011	3	-	-	-	1386900	315500	315000	-	1977200	523200	38000	21200	-	1194600
2011	2	-	-	-	1327200	197500	340900	-	1748400	438300	29400	18000	-	-
2011	1	-	-	-	1322800	353000	253600	-	2178500	482300	21600	12800	-	-
2010	4	-	-	-	1347200	230900	274900	23200	1848300	322200	27300	12700	-	-
2010	3	-	-	-	1182600	223200	227500	29700	1705500	498300	25900	16500	-	-
2010	2	-	-	-	1202200	249900	202200	35100	2025400	311500	33100	25700	-	-
2010	1	-	-	-	1328600	278600	195600	26000	805000	444200	20100	15600	-	-
2009	4	37079	23317	-	-	-	216838	40412	-	478887	31573	-	1538625	-
2009	3	37407	25147	-	-	-	176378	38249	-	502099	27121	-	1645477	-
2009	2	67601	22370	-	-	-	166245	36146	-	392558	27729	-	1434789	-
2009	1	21727	21727	-	-	-	115917	28555	-	497476	25576	-	1401714	-
2008	4	26245	28025	-	-	-	138201	51039	-	471068	25884	-	1705761	-
2008	3	26242	25942	-	-	-	261420	49145	-	414185	33939	-	1609828	-
2008	2	36428	23537	-	-	-	287410	46863	-	270513	42406	-	1499123	-
2008	1	19662	21861	-	-	-	249493	35691	-	408219	32917	-	1440191	-
2007	4	20428	20735	-	-	-	289854	41313	-	389998	22922	-	1505804	-
2007	3	24360	14795	-	-	-	247872	33741	-	420076	23640	-	1488899	-
2007	2	20316	23256	-	-	-	178993	35599	-	320589	21121	-	1427446	-
2007	1	30552	21881	-	-	-	128982	32217	-	360979	28687	-	1470100	-
2006	4	26533	23639	130247	-	-	154789	37754	-	448851	25099	-	1531534	-

Financial Quarter Segments Profit

year	qrt	Others	Elimination/Adjustment	Manufacturing	Leisure & Hospitality in Malaysia	Leisure & Hospitality in UK & Others	Plantation	Oil & Gas	Leisure & Hospitality in Singapore	Power	Property	Investment & Others	Leisure & Hospitality	Leisure & Hospitality in United States of America & Others
2011	3	-	-	-	656800	26800	154200	4200	926600	140800	9600	53100	-	54300
2011	2	-	-	-	647100	4500	192300	15800	862900	123700	5600	17100	-	-
2011	1	-	-	-	663100	76500	136400	24400	1282700	210400	6000	42600	-	-
2010	4	-	-	-	684800	31900	142100	1300	1101500	152600	5100	28300	-	-
2010	3	-	-	-	523400	26800	112700	4000	800800	146900	5400	72500	-	-
2010	2	-	-	-	592300	42000	89300	13100	1187800	113400	8200	17600	-	-
2010	1	-	-	-	681500	45700	97000	4600	261900	133500	8700	30800	-	-
2009	4	569	2673	-	-	-	92819	9609	-	103103	3280	-	376423	-
2009	3	132617	5243	-	-	-	79149	4841	-	83278	4476	-	643186	-
2009	2	6149	6879	-	-	-	69240	4591	-	79456	5122	-	490203	-
2009	1	13408	4711	-	-	-	43824	4785	-	97216	8299	-	486432	-
2008	4	40403	14411	-	-	-	40434	22740	-	20528	3395	-	688011	-
2008	3	23504	47953	-	-	-	130768	15343	-	5690	8539	-	501909	-
2008	2	9375	58464	-	-	-	153669	25381	-	67995	5909	-	558222	-
2008	1	2900	44786	-	-	-	133522	10028	-	140402	8098	-	481178	-
2007	4	15711	26352	-	-	-	152950	17753	-	126659	5383	-	520602	-
2007	3	86608	2239	-	-	-	131249	10129	-	123172	4545	-	565683	-
2007	2	472	1174	-	-	-	88981	10540	-	124456	3865	-	405123	-
2007	1	16450	18342	-	-	-	57853	10598	-	131567	9223	-	527776	-
2006	4	253501	55794	13142	-	-	67364	10802	-	141710	6113	-	581321	-

Financial Quarter Segments Associate

year	qrt	Others	Plantation	Power	Property	Leisure & Hospitality
2011	3	-	-	-	-	-
2011	2	-	-	-	-	-
2011	1	-	-	-	-	-
2010	4	-	-	-	-	-
2010	3	-	-	-	-	-
2010	2	-	-	-	-	-
2010	1	-	-	-	-	-
2009	4	920	1973	138	4	31688
2009	3	827	1243	13133	12	4058
2009	2	270	1717	16742	2	48767
2009	1	741	550	9449	24	328
2008	4	48	369	11123	-	2146
2008	3	134	238	7476	9	15632
2008	2	298	1377	13945	6	996
2008	1	155	2020	22599	18	1236
2007	4	-	1553	24955	52	5840
2007	3	-	638	12454	5	1501
2007	2	114	746	11466	26	3127
2007	1	5	612	19345	101	103353
2006	4	30	981	4869	1	167095

CURRENT

●CHANGES IN SHAREHOLDING
●ANNUAL REPORTS

HISTORICAL

●CHANGES IN SHAREHOLDING

ARCHIVES

●CHANGES IN SHAREHOLDING

1-Years Historical Chart from shareinvestor.com

5-Years Historical Chart from shareinvestor.com

KLCI Stock - SUNWAY / 5211 - 2011 Quarter 3

2012-01-24T06:49:00.000-08:00

SUNWAY BERHAD

Company Description

Sunway Berhad, formerly Alpha Sunrise Sdn Bhd, is engaged in two businesses: property and construction. Its other business divisions include quarry and building materials, trading and manufacturing, hospitality, leisure, and healthcare. It is a special purpose company formed for the acquisition of SunCity Business and the SunH Business. In its construction business, it offers designing and building services in the fields of building construction, civil engineering, infrastructure, mechanical and electrical engineering, machinery and site equipment rental, precast, foundation and piling, and stone materials. It owns 36.7% in Sunway real estate investment trust (REIT), which is managed by its subsidiary Sunway REIT Management Sdn Bhd. Sunway REIT owns a portfolio of retail and commercial properties. On November 3, 2011, it acquired Avenue Wisdom Sdn Bhd. On November 16, 2011, the Company announced that its wholly owned subsidiary, Sunway City Sdn Bhd, acquired Sunway Mall Sdn Bhd.

Company Info

Listing Date	2011-08-23
IPO Price	2.8
Market Capital (Capital Size)	3,257,112,610 (Large)
Par Value	RM 1.00
Board	Main
Sector	Properties
Major Industry	Civil Engineering
Sub Industry	Trading of Pharmaceutical & Construction Related Products
Website	http://www.sunway.com.my

My Analysis

Forecast P/E now	2.52/0.2426 = 10.39 (Moderate)
Target Price	0.2426*15.0 = 3.64 (PE 15.0, EPS 0.2426)
Decision	BUY if Bolinger upper band open and stock price above SMA20 or stock price below SMA20 and buying volume stronger than selling
Comment	Revenue decreased 6.8%, eps decreased 23.3%, cash generated from operating more than enough to cover all expenses, better liquidity ratio but still at low level now, higher gearing ratio at high level now, higher inventory and property development cost
First Support Price	2.43
Second Support Price	2.32
Risk Rating	MODERATE

Research House

Maybank Target Price	2.28 (2011-11-25)
HwangDBS Target Price	3.3 (2011-12-20)
MIDF Target Price	2.55 (2011-12-20)
TA Target Price	3.16 (2011-12-20)
Affin Target Price	2.79 (2011-12-27)
OSK Target Price	3.31 (2011-12-27)
HLG Target Price	3.12 (2012-01-10)

Accounting Ratio

Return on Equity	%
Dividend Yield	-
Profit Margin	9.71%
Tax Rate	20.63%
Asset Turnover	0.3617
Net Asset Value Per Share	2.18
Net Tangible Asset per share	1.92
Price/Net Tangible Asset Per Share	1.16
Cash Per Share	0.74
Liquidity Current Ratio	1.4763
Liquidity Quick Ratio	1.0618
Liquidity Cash Ratio	0.4253
Gearing Debt to Equity Ratio	1.5671
Gearing Debt to Asset Ratio	0.5766
Working capital per thousand Ringgit sale	38.5%
Days to sell the inventory	127
Days to collect the receivables	180
Days to pay the payables	252

Technical Analysis

SMA 20	2.497 (Uptrend 23 days)
SMA 50	2.394 (Uptrend)
SMA 100	2.268 (Uptrend)
SMA 200	Not Available
MACD	0.066312 (Downtrend 7 days)
MACD Histogram	-0.004476 (Downtrend 5 days)

My notes based on 2011 quarter 3 report (number in '000):-
- Lower revenue than FY11Q2 mainly due to lower revenue from construction division

- Lower pbt than FY11Q2 mainly due to lower profit from property investment division, got RM12.9 million listing expenses and loss in derivatives in current quarter

- Estimate next 4Q eps after 2011 Q3 result announced = (0.0715+0.044)*2*1.05 = 0.2426, estimate PE on current price 2.52 = 10.39(DPS 0.081)

SUNWAY latest news (English)

SUNWAY latest news (Chinese)

Financial Quarter Summary

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	liab	mino	equi	cfo	cfi	cff	cash	fcf	net	final	share	c_share	m_cap	date	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
2011-11-24	2011	3	N/A	N/A	-	2.13%	7.58%	934031	2770307	90736	316962	69224	245928	0.0536	0.1903	7658293	4415435	425224	3242858	276192	91099	112115	864253	185093	72978	937231	1292505	1292505	2869361	2011-09-30	9.71%	20.63%	0.3617	-	2.18	1.92	1.16	0.74	1.4763	1.0618	0.4253	1.5671	0.5766	38.5%	127	180	252
2011-08-25	2011	2	2.47	1.67	-	3.37%	5.49%	1002565	1836276	147007	226226	108415	176704	0.0699	0.1139	7454474	4237714	418529	3216760	156119	19042	3408	854932	137077	140485	995417	1551006	1551006	3551803	2011-06-30	14.66%	20.88%	N/A	-	1.8	1.59	1.44	0.65	1.3995	1.0143	0.4403	1.5144	0.5685	N/A	-	N/A	N/A
2011-08-16	2011	1	2.66	2.25	-	2.22%	2.22%	833711	833711	79219	79219	68289	68289	0.0440	0.0440	7228852	4150200	397336	3078652	72791	46125	7685	850591	118916	111231	961822	1551006	1551006	N/A	2011-03-31	9.50%	-	N/A	-	1.73	1.52	N/A	0.63	1.4379	1.016	0.4446	1.5478	0.5741	N/A	-	N/A	N/A

Financial Quarter Balance Sheet

year	qrt	Biological assets (A-0)	Deferred tax assets (A-0)	Derivative assets (A-0)	Goodwill on consolidation (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)	Receivables (A-0)	Rock reserves (A-0)	Cash and cash equivalents (A-1)	Current tax assets (A-1)	Derivative assets (A-1)	Inventories (A-1)	Other receivables, deposits and prepayments (A-1)	Property development costs (A-1)	Deferred tax liabilities (L-0)	Derivative liabilities (L-0)	Loans & borrowings (L-0)	Other liabilities (L-0)	Current tax liabilities (L-1)	Derivative liabilities (L-1)	Loans & borrowings (L-1)	Payables and accruals (L-1)	Minority interest (M-1)
2011	3	291	41662	30652	330095	1009343	493243	785573	661315	1773	972137	13456	8613	953739	56462	2180	355043	1368401	574315	83167	1021	1886652	202344	25980	277	372765	1843229	425224
2011	2	270	42429	-	330105	1008606	478974	768352	629724	1797	957881	18011	8847	1009830	64349	7275	321865	1244642	561517	83869	662	1662981	196866	43328	178	622063	1627767	418529
2011	1	435	39833	-	330095	978280	457233	752294	535715	1765	948639	17634	9080	976327	52337	10425	301949	1192200	624611	80766	1204	1678295	193770	63238	219	649921	1482787	397336

Financial Quarter Income Statement

year	qrt	Revenue	Income tax expense	Finance/interest costs	Other income	Administrative/Operating expenses	Minority interest	Finance/interest income	Share of profit/ (loss) of associates	Derivative (loss)/gain	Share of net profit of jointly controlled entity
2011	3	934031	18723	25567	27982	897859	2789	7352	16751	11859	39905
2011	2	1002565	30690	15897	22291	967069	7902	9071	56954	385	38707
2011	1	833711	9702	16492	17352	807670	20632	3808	17112	3173	28225

Financial Quarter Segments Revenue

year	qrt	Others	Property development	Construction	Investment holding	Property investment	Manufacturing & trading	Quarry
2011	3	73742	229653	305105	244	134336	143456	47495
2011	2	74312	236571	386565	123	117183	140169	47642
2011	1	68742	203122	277051	2007	108975	133106	40708

Financial Quarter Segments Profit

year	qrt	Others	Property development	Construction	Investment holding	Property investment	Manufacturing & trading	Quarry
2011	3	4867	29947	16424	20932	28722	11396	3464
2011	2	3696	9341	10419	32223	26804	12815	3457
2011	1	1051	23888	1449	11739	16047	12387	310

Financial Quarter Segments Associate

year	qrt	Others	Property development	Construction	Property investment
2011	3	710	37462	2444	16040
2011	2	-	24774	13933	56954
2011	1	985	12830	15385	16137

CURRENT

●CHANGES IN SHAREHOLDING
●ANNUAL REPORTS

HISTORICAL

●CHANGES IN SHAREHOLDING

ARCHIVES

●CHANGES IN SHAREHOLDING

1-Years Historical Chart from shareinvestor.com

5-Years Historical Chart from shareinvestor.com