KLCI Stock - NAIM / 5073 - 2012 Quarter 3

NAIM HOLDINGS BERHAD


Company Description

Naim Holdings Berhad, formerly Naim Cendera Holdings Berhad, is principally engaged in investment holding. The Company operates in three segments: property development, which is engaged in the development of residential and commercial properties; construction, which is engaged in the Construction of buildings, roads, bridges and others, and others, engaged in manufacture and sale of construction materials, provision of sand extraction and land filling services, property investment holdings. During the year ended December 31, 2008, the Company sold 629 units of residential and commercial properties. In July 2009, the Company incorporated Naimcendera Engineering & Construction Sendirian Berhad.

Company Info

Listing Date	2003-09-12
Market Capital (Capital Size)	462,500,000 (Small)
Par Value	RM 1.00
Board	Main
Sector	Properties
Major Industry	Property Development
Sub Industry	Infrastructure Construction
Website	http://www.naim.com.my/

My Analysis

Forecast P/E now	(1.85-0.06)/0.2631 = 6.80 (Moderate)
Target Price	2.37+0.06 = 2.43 (PE 9.0, EPS 0.2631, DPS 0.06)
Decision	BUY if stock price strong sustain and uptrend above 1.85
Comment	Revenue increased 10.6% and was third consecutive quarter increasing and also higher than preceding year corresponding quarter 41.3%, eps decreased 7.1% but higher than preceding year corresponding quarter 183.1%, cash generated from investing enough to cover financing expenses but still need borrowings and spent 7.6% of Group cash to cover operating and investing expenses, gross margin dropped from 24% to 17% but still at average of 21% per quarter, liquidity ratio indicate very firm can meet current obligation, gearing ratio indicate high leverage via long term borrowings to expand the business, all accounting of turnover period still quite long time which require more cash, all segment business growth
First Support Price	1.85
Second Support Price	1.7
Risk Rating	MODERATE

Research House

OSK Target Price	2.94 (2012-08-01)
Jupiter Target Price	2.14 (2012-08-02)
AMMB Target Price	2.95 (2012-09-03)
TA Target Price	3.17 (2012-10-03)
Kenanga Target Price	2.62 (2012-11-30)
MIDF Target Price	3.14 (2012-11-30)

Accounting Ratio

Return on Equity	10.71%
Dividend Yield	3.24%
Gross Profit Margin	17.68%
Operating Profit Margin	10.71%
Net Profit Margin	22.91%
Tax Rate	2.05%
Asset Turnover	0.3153
Net Asset Value Per Share	3.43
Net Tangible Asset per share	3.39
Price/Net Tangible Asset Per Share	0.55
Cash Per Share	0.83
Liquidity Current Ratio	4.9436
Liquidity Quick Ratio	3.5112
Liquidity Cash Ratio	1.1851
Gearing Debt to Equity Ratio	0.6909
Gearing Debt to Asset Ratio	0.4029
Working capital per thousand Ringgit sale	149.3%
Days to sell the inventory	252
Days to collect the receivables	305
Days to pay the payables	171

Technical Analysis

SMA 10	1.917 (Downtrend)
SMA 20	1.94 (Downtrend 4 days)
SMA 50	1.883 (Uptrend)
SMA 100	1.837 (Uptrend)
SMA 200	1.868 (Downtrend)
MACD (26d/12d)	-0.007184 ( 0.005052 )
Signal (9)	0.009816 ( 0.00425 )
MACD Histogram	0.017000 (Bearish trend 14 days)
Bolinger Upper Band	2.057
Bolinger Lower Band	1.823

My notes based on 2012 quarter 3 report (number in '000):-
- Higher revenue and pbt than FY11Q3 mainly due to higher sales of properties and improvement in the margin for the construction segment, especially from the substantially completed projects and also improvement in the performance of associates and joint ventures

- Lower pbt than FY12Q2 mainly due to sales of low margin properties

- Estimate next 4Q eps after 2012 Q3 result announced = 831331*0.075/236944 = 0.2631, estimate PE on current price 1.85 = 6.8(DPS 0.06)
- Estimate next 4Q eps after 2012 Q2 result announced = 802882*0.07/236944 = 0.2372, estimate highest/lowest PE = 8.43/7.04 (DPS 0.06)
- Estimate next 4Q eps after 2012 Q1 result announced = 763498*0.065/236944 = 0.2094, estimate highest/lowest PE = 9.12/7.74 (DPS 0.06)
- Estimate next 4Q eps after 2011 Q4 result announced = 763498*0.06/236944 = 0.1933, estimate highest/lowest PE = 11.69/8.33 (DPS 0.06)
- Estimate next 4Q eps after 2011 Q3 result announced = 0.0433*4 = 0.1732, estimate highest/lowest PE = 13.34/8.43 (DPS 0.08)
- Estimate next 4Q eps after 2011 Q2 result announced = (0.0516+0.043)*2 = 0.1892(exclude RM10 million disposal gain), estimate highest/lowest PE = 10.15/7.93 (DPS 0.08)
- Estimate next 4Q eps after 2011 Q1 result announced = 0.4023*0.85 = 0.342(0.4023 from recent fourth quarter eps), estimate highest/lowest PE = 7.19/5.38 (DPS 0.1)
- Estimate next 4Q eps after 2010 Q4 result announced = 0.0921*4*0.9 = 0.3316, estimate highest/lowest PE = 9.77/8.84 (DPS 0.1)
- Estimate next 4Q eps after 2010 Q3 result announced = 0.2587*2*0.9 = 0.4657, estimate highest/lowest PE = 8.16/6.79 (DPS 0.1)
- Estimate next 4Q eps after 2010 Q2 result announced = 0.1619*2*1.1 = 0.3562, estimate highest/lowest PE = 10.47/8.84 (DPS 0.1)
- Estimate next 4Q eps after 2010 Q1 result announced = 0.2988 (10% drop from 0.332, due to profit decreasing), estimate highest/lowest PE = 11.28/8.57 (DPS 0.08)
- Estimate next 4Q eps after 2009 Q4 result announced = 0.0793*4 = 0.3172, estimate highest/lowest PE = 11.41/8.89 (DPS 0.08)
- Estimate next 4Q eps after 2009 Q3 result announced = 0.0902*4 = 0.3608, estimate highest/lowest PE = 9.87/6.59 (DPS 0.08)
- Estimate next 4Q eps after 2009 Q2 result announced = 0.0955*4 = 0.382, estimate highest/lowest PE = 8.04/6.73 (DPS 0.08)
- Estimate next 4Q eps after 2009 Q1 result announced = 0.0668*4 = 0.2672, estimate highest/lowest PE = 10.18/6.4 (DPS 0.13)
- Estimate next 4Q eps after 2008 Q4 result announced = 0.1118*4 = 0.4472, estimate highest/lowest PE = 4.07/2.17 (DPS 0.13)

NAIM latest news (English)

NAIM 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	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
2012-11-29	2012	3	N/A	N/A	-	3.81%	10.00%	133411	348158	30566	90304	29055	76375	0.1226	0.3223	1392390	821752	561059	166226	19216	831331	22954	19063	12348	212742	3891	16239	196503	236944	236944	438346	2012-09-30	17.68%	10.71%	22.91%	2.05%	0.3153	-	3.43	3.39	0.55	0.83	4.9436	3.5112	1.1851	0.6909	0.4029	149.3%	252	305	171
2012-08-30	2012	2	2.06	1.73	0.03	4.09%	6.20%	120592	214747	36755	59738	31242	47320	0.1319	0.1997	1355581	824568	552699	157255	18331	802882	13198	24085	3592	212770	10887	7295	220065	236944	236944	443085	2012-06-30	24.57%	19.35%	30.48%	10.64%	0.2951	-	3.31	3.27	0.57	0.93	5.2435	3.7253	1.4021	0.7045	0.4077	166.8%	271	315	172
2012-05-25	2012	1	1.97	1.68	-	2.11%	2.11%	94155	94155	22983	22983	16078	16078	0.0679	0.0679	1319055	794478	549243	152426	16728	769812	1587	10098	4651	212752	11685	16336	229088	236944	236944	407543	2012-03-31	23.84%	12.62%	24.41%	26.65%	0.2903	-	3.18	3.14	0.55	0.97	5.2122	3.6339	1.5063	0.7293	0.4164	167.7%	275	290	167
2012-02-29	2011	4	2.32	1.67	0.03	0.71%	6.35%	90863	409649	6300	57346	5283	46926	0.0223	0.1980	1289060	761792	525562	140207	16316	763498	36006	52018	190205	38680	16012	174193	212873	236944	236944	523646	2011-12-31	19.80%	0.77%	6.93%	-	0.3178	11.159	3.15	3.12	0.71	0.9	5.4333	3.7003	1.5224	0.7034	0.4077	151.7%	256	255	138
2011-11-24	2011	3	2.39	1.54	-	1.39%	5.63%	94390	318786	12556	51046	10253	41643	0.0433	0.1758	1289930	786652	533364	150749	15390	756566	16995	43217	200100	38688	26222	173878	212566	236944	236944	417021	2011-09-30	8.65%	0.67%	13.30%	21.42%	0.3963	-	3.13	3.09	0.57	0.9	5.2183	3.603	1.4168	0.7196	0.4135	124.4%	215	223	127
2011-08-25	2011	2	2.0	1.58	0.05	2.59%	4.24%	103492	224396	21546	38490	19164	31390	0.0809	0.1325	1183503	690340	425132	204295	15776	758371	4943	42850	91060	38688	37907	53153	91841	236944	236944	466779	2011-06-30	14.39%	13.04%	20.82%	11.42%	0.4713	-	3.13	3.09	0.64	0.39	3.3791	2.1999	0.4566	0.5725	0.3592	87.1%	211	225	129
2011-05-26	2011	1	2.56	1.94	-	1.65%	1.65%	120904	120904	16944	16944	12222	12222	0.0516	0.0516	1197878	690289	458322	380816	15807	739556	8329	57010	103959	38688	48681	55278	93966	236944	236944	594729	2011-03-31	18.64%	6.72%	14.01%	23.58%	0.5094	-	3.05	3.01	0.83	0.4	1.8127	1.1884	0.2482	0.6333	0.3826	50.7%	194	208	144
2011-02-28	2010	4	3.34	2.5	0.05	3.33%	14.50%	192401	612691	32421	132043	22454	97750	0.0948	0.4125	1054624	608396	315160	245953	15449	739464	49476	50624	49864	89700	1148	51012	38688	236944	236944	777176	2010-12-31	27.54%	13.97%	16.85%	30.63%	0.581	7.9507	3.06	3.01	1.09	0.17	2.4736	1.4576	0.1594	0.4353	0.2988	59.2%	203	186	112
2010-11-24	2010	3	3.9	3.26	-	5.48%	11.17%	140992	420290	50107	99622	36941	75296	0.1559	0.3178	1053486	621143	335455	261705	15642	718031	74365	39741	54532	89700	34624	19908	69792	236944	236944	819826	2010-09-30	36.58%	28.80%	35.54%	21.41%	0.582	-	2.96	2.92	1.18	0.3	2.3734	1.4169	0.2694	0.4776	0.3184	58.6%	198	175	124
2010-08-25	2010	2	3.83	3.25	0.05	3.61%	5.69%	155945	279298	30296	49515	24362	38355	0.1028	0.1619	1048651	624850	351853	277791	19961	696798	78904	34136	30949	89700	44768	13819	103519	236944	236944	772437	2010-06-30	23.41%	17.11%	19.43%	20.96%	0.588	-	2.86	2.81	1.16	0.44	2.2494	1.4069	0.3741	0.5198	0.3355	56.3%	178	164	126
2010-05-25	2010	1	3.45	2.64	-	2.08%	2.08%	123353	123353	19219	19219	13993	13993	0.0591	0.0591	1090583	686447	405946	344813	20378	684637	122123	84394	48980	89700	37729	86709	176409	236944	236944	687137	2010-03-31	18.95%	12.33%	15.58%	26.68%	0.5455	-	2.8	2.8	1.04	0.75	1.9908	1.2842	0.5128	0.6111	0.3722	57.4%	191	158	122
2010-02-24	2009	4	3.7	2.9	0.05	4.10%	13.89%	192811	566920	30272	115532	25083	84981	0.1058	0.3585	1057162	670027	382838	321114	21961	674324	1564	13833	47976	57121	15397	32579	89700	237051	237051	782268	2009-12-31	21.07%	15.12%	15.70%	22.77%	0.5363	9.2052	2.75	2.75	1.2	0.38	2.0866	1.2505	0.2806	0.5868	0.3621	61.5%	224	195	153
2009-11-17	2009	3	3.7	2.4	-	3.50%	9.79%	144460	374109	33483	85260	21396	59898	0.0902	0.2526	979075	623135	328380	269209	23374	650695	34077	20314	11152	57127	13763	2611	54516	237087	237087	699406	2009-09-30	25.79%	20.37%	23.18%	36.18%	0.5283	-	2.65	2.64	1.12	0.23	2.3147	1.4539	0.2025	0.5235	0.3354	68.4%	210	231	156
2009-08-26	2009	2	3.25	2.6	0.03	3.70%	6.29%	134342	229649	30227	51777	22654	38502	0.0955	0.1623	960624	610848	324195	264952	23402	636429	41091	15693	25259	57121	25398	139	56982	237159	237159	649815	2009-02-28	20.86%	17.58%	22.50%	22.41%	0.5237	-	2.58	2.58	1.06	0.24	2.3055	1.3843	0.2151	0.5288	0.3375	68.8%	223	216	154
2009-05-26	2009	1	2.87	1.79	-	2.59%	2.59%	95307	95307	21550	21550	15848	15848	0.0668	0.0668	930506	592393	305338	248596	22948	625168	21775	19883	3848	57121	1892	5740	51381	237373	237373	434392	2009-03-31	24.78%	16.64%	22.61%	22.10%	0.5403	-	2.54	2.53	0.72	0.22	2.383	1.3598	0.2067	0.507	0.3281	68.4%	232	198	177
2009-02-25	2008	4	1.99	1.08	0.05	4.85%	14.46%	143126	523717	29696	104304	27089	80747	0.1118	0.3332	955920	615663	344041	286857	24228	611879	8879	14559	28574	91375	5680	34254	57121	242321	242321	298054	2008-12-31	18.39%	19.48%	20.75%	8.70%	0.5479	3.6912	2.43	2.42	0.51	0.24	2.1462	1.2245	0.1991	0.5855	0.3599	62.8%	232	196	204
2008-10-31	2008	3	2.35	1.22	-	2.67%	9.61%	130333	380591	21497	74608	14883	53658	0.0611	0.2204	923962	518942	333810	274330	24219	590152	18245	17230	39565	91375	1015	38550	52825	243464	243464	572140	2008-09-30	19.04%	13.06%	16.49%	26.98%	0.6113	-	2.32	2.32	1.01	0.22	1.8917	1.2664	0.1964	0.5898	0.3613	43.3%	138	178	190
2008-08-06	2008	2	2.93	2.07	0.08	3.16%	6.95%	133943	250258	23973	53111	17651	38775	0.0722	0.1587	893084	542520	295265	239192	20425	597819	13933	21982	12272	91375	8049	20321	71054	244341	244341	696371	2008-06-30	20.29%	13.97%	17.90%	23.89%	0.6455	-	2.36	2.36	1.21	0.3	2.2681	1.5102	0.3042	0.5114	0.3306	52.6%	146	175	161
2008-04-24	2008	1	4.0	2.81	-	3.78%	3.78%	116315	116315	29138	29138	21124	21124	0.0864	0.0864	1016630	689438	430828	346581	19616	585802	13524	10712	20967	91424	2812	18155	73269	244436	244436	982632	2008-03-31	25.69%	18.73%	25.05%	24.46%	0.6176	-	2.32	2.31	1.74	0.31	1.9893	1.4087	0.2162	0.7609	0.4238	54.6%	148	234	254
2008-02-28	2007	4	4.1	3.08	-	2.11%	14.40%	184233	646024	30890	126325	11178	76274	0.0457	0.3120	906918	586586	348657	291002	18943	558261	63711	88825	3868	120357	25114	28982	91375	244491	244491	909506	2007-12-31	16.34%	13.56%	16.77%	59.29%	0.7123	11.9242	2.21	2.2	1.69	0.38	2.0157	1.331	0.3199	0.6465	0.3844	45.8%	144	162	167
2007-11-14	2007	3	5.35	3.6	0.08	3.82%	12.29%	142012	461791	30784	95435	20217	65096	0.0827	0.2663	1001644	689411	422971	286509	36254	578673	56951	92201	59564	120357	35250	24314	144671	244491	244491	1308026	2007-09-30	24.83%	20.05%	21.68%	32.47%	0.6574	-	2.22	2.21	2.42	0.6	2.4062	1.6614	0.5107	0.7798	0.4223	61.2%	152	183	203
2007-08-23	2007	2	5.7	5.1	-	4.19%	8.47%	185354	319779	31911	64651	22205	44879	0.0908	0.1836	822256	629307	264372	205936	35682	557884	481	2238	19075	120357	2719	21794	98563	244491	244491	1271353	2007-06-30	20.11%	16.61%	17.22%	27.07%	0.6281	-	2.14	2.13	2.44	0.41	3.0558	2.0159	0.4866	0.5063	0.3215	82.0%	193	223	183
2007-04-27	2007	1	N/A	N/A	0.07	4.28%	4.28%	134425	134425	32740	32740	22674	22674	0.0927	0.0927	811135	617851	257929	198401	40716	553206	2045	980	164	120357	3025	3189	117168	244491	244491	977964	2007-03-31	27.62%	23.85%	24.36%	28.22%	0.4082	-	2.1	2.09	1.91	0.49	3.1142	2.0639	0.5989	0.5033	0.318	126.7%	296	320	279
2007-02-26	2006	4	N/A	N/A	-	N/A	N/A	196713	525997	34442	104849	22171	66229	0.0907	0.2709	793841	597743	264135	203999	39890	529706	42201	11696	41965	131817	30505	11460	120357	244491	244491	762811	2006-12-31	18.74%	16.72%	17.51%	27.77%	0.2478	11.5178	2.0	1.99	1.57	0.5	2.9301	1.9173	0.5981	0.5393	0.3327	200.2%	472	480	464

Financial Quarter Balance Sheet

year	qrt	Deferred tax assets (A-0)	Intangible assets (A-0)	Investment in associated companies (A-0)	Investment properties (A-0)	Join venture (A-0)	Land held for property development (A-0)	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)	Inventories (A-1)	Other receivables, deposits and prepayments (A-1)	Property development costs (A-1)	Trade receivables (A-1)	Deferred tax liabilities (L-0)	Loans & borrowings (L-0)	Current tax liabilities (L-1)	Deferred income (L-1)	Loans & borrowings (L-1)	Trade and other payables (L-1)	Minority interest (M-1)
2012	3	9658	8448	233692	55185	19178	127693	48	2489	114247	197001	19891	28664	5683	209436	361077	44978	349855	953	-	3281	161992	19216
2012	2	4249	8619	221842	51331	13435	112231	48	2495	116763	220488	20080	29492	6854	209260	338394	45380	350064	1652	-	4068	151535	18331
2012	1	4384	8789	211649	51585	13738	111549	48	2502	120333	229600	20096	32022	5889	208562	298309	45794	351023	1386	-	5050	145990	16728
2011	4	5130	8959	215950	51840	13840	110563	48	2508	118430	213456	19212	26847	6032	216133	280112	46268	339087	1020	-	7911	131276	16316
2011	3	2145	9129	209502	46039	9384	110471	48	2513	114047	213580	17637	26751	6851	216745	305088	46240	336375	403	-	7178	143168	15390
2011	2	2571	9299	206885	37897	7217	110443	48	2487	116316	93274	11567	24288	11738	216624	332849	47081	173756	279	11637	56576	135803	15776
2011	1	2330	9469	218741	28155	10704	110443	48	2479	125220	94521	9716	26721	5136	210996	343199	47579	29927	2641	5201	201725	171249	15807
2010	4	2282	9639	168080	20871	8669	110443	48	2506	123690	39214	7181	32714	4011	217182	308094	48495	20712	4352	11906	104401	125294	15449
2010	3	2516	9809	161357	-	10414	110522	48	49109	88568	70498	7184	20994	-	229330	293137	49890	23860	7327	19308	97765	137305	15642
2010	2	3237	9979	158322	-	11659	110522	343	50525	79214	103915	9290	22167	-	211850	277628	50274	23788	11308	20012	101835	144636	19961
2010	1	1866	-	154145	-	11279	110492	351	50789	75214	176805	8901	22561	-	221072	257108	51298	9835	6244	28742	182932	126895	20378
2009	4	1414	2	149363	-	10957	110492	476	51034	63397	90096	8562	27136	-	241336	302897	51646	10078	7070	25053	130921	158070	21961
2009	3	832	255	154399	454	10817	105313	458	47740	35672	54516	8912	19978	-	211746	327983	52117	7054	3605	-	93359	172245	23374
2009	2	832	397	150266	457	10619	102296	464	47949	36496	56982	11612	22100	-	221963	298191	52450	6793	218	-	96021	168713	23402
2009	1	832	731	144341	460	9677	102296	450	48188	31138	51381	13780	22003	-	232360	272869	53407	3335	-	-	53962	194634	22948
2008	4	832	898	146897	464	7882	102296	450	48427	32111	57121	12516	24350	-	240066	281610	53748	3436	764	-	54054	232039	24228
2008	3	1193	947	128228	467	11649	186072	435	48733	27296	53885	18452	19770	-	151756	275079	58865	615	-	-	38389	235941	24219
2008	2	1193	1102	132872	470	8604	133912	435	48897	23079	72766	11806	20434	-	160849	276665	55704	369	197	-	38628	200367	20425
2008	1	588	1259	114082	473	9299	128200	435	49104	23752	74921	11074	23847	-	177360	402236	54859	29388	1560	-	870	344151	19616
2007	4	1193	1363	97890	477	10885	133912	434	49347	24831	93087	7982	24102	-	175149	286266	57126	529	9054	-	49963	231985	18943
2007	3	588	1551	93813	480	7715	133240	461	51245	23140	146323	-	14565	-	198835	329688	56811	79651	446	-	854	285209	36254
2007	2	588	1780	4412	483	9480	133585	461	18469	23691	100215	-	15778	-	198379	314935	57614	822	1793	-	599	203544	35682
2007	1	588	2037	4176	461	8281	134146	461	18560	24574	118820	-	15363	-	193011	290657	58561	967	1382	-	597	196422	40716
2006	4	588	2133	3994	490	7638	136614	449	18650	25542	122009	10247	14837	-	191788	258862	59012	1124	20	-	557	203422	39890

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	Other expenses	Share of results of joint ventures
2012	3	133411	626	109820	4590	1045	7089	885	1808	15574	1238	71	3484
2012	2	120592	3910	90966	4789	5859	9922	1603	1558	13292	1249	980	3360
2012	1	94155	6125	71712	4212	743	10279	780	1855	8119	963	57	5334
2011	4	90863	158	72869	5104	1114	15284	1175	846	6085	2081	1046	5468
2011	3	94390	2689	86225	3220	750	8555	386	1423	12169	806	188	2818
2011	2	103492	2461	88598	3216	9466	8752	79	1603	7334	1456	658	2331
2011	1	120904	3996	98367	2476	644	14058	726	1619	7460	767	234	2219
2010	4	192401	9929	139412	1898	320	26755	38	616	6721	610	287	105
2010	3	140992	10729	89417	1787	1978	11675	2437	2362	9670	1264	7	745
2010	2	155945	6350	119446	2427	942	9557	416	432	5227	1074	127	381
2010	1	123353	5128	99977	1484	1654	8611	98	391	4782	886	324	321
2009	4	192811	6892	152186	1073	109	10465	1703	274	1744	470	425	171
2009	3	144460	12115	107203	884	788	7842	28	103	4133	931	161	698
2009	2	134342	6773	106316	389	3931	6845	800	128	5925	1255	236	942
2009	1	95307	4762	71690	472	333	6595	940	274	4095	1108	389	1795
2008	4	143126	2583	116812	464	15579	13608	24	-	4734	717	315	2457
2008	3	130333	5800	105523	487	1341	7159	814	-	4292	1526	445	671
2008	2	133943	5728	106772	384	1048	7731	594	-	5480	1486	290	165
2008	1	116315	7126	86435	385	895	7259	888	-	6920	1234	495	816
2007	4	184233	18315	154129	656	1231	6521	1397	-	5935	804	968	633
2007	3	142012	9995	106749	447	2591	7711	572	-	1205	1504	172	1559
2007	2	185354	8637	148074	51	2251	6861	1069	-	236	1068	817	941
2007	1	134425	9240	97293	47	1547	5850	826	-	182	771	-	547
2006	4	196713	9564	159854	65	4619	7749	2707	-	212	1188	346	1408

Financial Quarter Segments Revenue

year	qrt	Others	Elimination/Adjustment	Property development	Construction
2012	3	19695	11302	57824	67194
2012	2	18229	7682	55140	54905
2012	1	16061	7219	42117	43196
2011	4	26056	18121	33083	49845
2011	3	19617	11905	24617	62061
2011	2	19129	10174	24421	70116
2011	1	19739	9188	32609	77744
2010	4	23912	15672	32250	154592
2010	3	19279	14156	30605	105264
2010	2	18992	7251	50271	93933
2010	1	10012	4169	49591	67919
2009	4	12203	11966	59308	133266
2009	3	21880	6248	46135	82693
2009	2	20721	7190	48896	71915
2009	1	14015	5445	26648	60089
2008	4	4227	14150	58807	74396
2008	3	15374	8994	50359	73594
2008	2	20274	10463	59039	65093
2008	1	18884	10800	41569	66662
2007	4	5285	7624	78554	92770
2007	3	25140	15394	53394	78872
2007	2	19533	7793	48756	124858
2007	1	14237	4547	48520	76215
2006	4	21442	10754	64844	121181

Financial Quarter Segments Profit

year	qrt	Others	Elimination/Adjustment	Property development	Construction
2012	3	2120	3621	6937	6463
2012	2	573	1061	13836	4165
2012	1	3078	646	6101	7088
2011	4	614	4355	260	864
2011	3	2511	4981	2572	457
2011	2	2314	4098	3666	159
2011	1	15	2565	7700	2363
2010	4	1688	2262	10574	14415
2010	3	1492	2510	24334	14564
2010	2	187	1728	12928	16289
2010	1	449	99	19726	3660
2009	4	517	6560	14370	20818
2009	3	2281	1200	8561	18481
2009	2	2464	838	12714	9963
2009	1	2728	1061	8537	6178
2008	4	8224	8100	11439	681
2008	3	2737	3027	12234	5704
2008	2	5304	3836	12481	5210
2008	1	3182	2672	11461	9674
2007	4	3556	1767	33368	8391
2007	3	3304	2742	15439	12590
2007	2	3719	3877	12740	16910
2007	1	1322	460	17015	14397
2006	4	1325	979	17701	12996

Financial Quarter Segments Associate

year	qrt	Others	Construction	Oil & Gas
2012	3	1671	3484	13903
2012	2	2737	3360	10555
2012	1	2663	5334	5456
2011	4	1633	5613	4307
2011	3	1786	2831	10370
2011	2	978	2331	8312
2011	1	1470	2219	5990
2010	4	-	-	6452
2010	3	-	-	8144
2010	2	-	-	5187
2010	1	60	356	4687
2009	4	-	-	2318
2009	3	-	-	3968
2009	2	-	-	5822
2009	1	-	-	4011
2008	4	-	-	4811
2008	3	-	-	4705
2008	2	-	-	5822
2008	1	-	-	6702
2007	4	-	-	5710
2007	3	-	-	921
2007	2	-	-	-
2007	1	-	-	-
2006	4	-	-	-

Short form reference
a_date = announcement date, yr = financial year end, qrt = quarter
h_price = stock highest price during the quarter, l_price = stock lowest price during the quarter
div = dividend recommend or declare in the quarter, roe = return on equity
c_roe = cumulative of return on equity during the financial year
rev = revenue in the current quarter, c_rev = cumulative of revenue during the financial year
pbt = profit before tax in the current quarter, c_pbt = cumulative of profit before tax during the financial year
eps = earnings per share in the current quarter, c_eps = cumulative of earnings per share during the financial year
asset = total asset, liab = total liability, mino = minority interest, equi = total equity
cfo = net cash flow from operating activities, cfi = net cash flow from investing activities
cff = net cash flow from financing activities, cash = cash and cash equivalents as at beginning of financial year
final = cash and cash equivalents as at current financial period ended
share = diluted/basic weighted average number of ordinary shares
c_share = cumulative of diluted/basic weighted average number of ordinary shares during the financial year
m_cap = market capital at announcement date of quarterly report, date = current financial period ended date
prof_m = profit margin, vat = income tax rate, pe = price earning per share ratio of recent four quarter
navps = net asset value per share, ntaps = net tangible asset per share, cps = cash per share
l_cur = liquidity current ratio, l_qui = liquidity quick ratio, l_cash = liquidity cash ratio
g_de = gearing debt to equity ratio, g_da = gearing debt to assets ratio
avg_w = working capital per thousand Ringgit sale
inv_d = days to sell the inventory, rec_d = days to collect the receivables
pay_d = days to pay the payables

CURRENT

---

●CHANGES IN SHAREHOLDING
●ANNUAL REPORTS

HISTORICAL

---

●CHANGES IN SHAREHOLDING

ARCHIVES

---

●CHANGES IN SHAREHOLDING

---

●CHANGES IN SHAREHOLDING

KLCI Stock - NAIM / 5073 - 2012 Quarter 2

Company Info

Market Capital (Capital Size)	462,500,000 (Small)
Par Value	RM 1.00

My Analysis

Forecast P/E now	(1.85-0.06)/0.2372 = 7.55 (Moderate)
Target Price	2.25+0.06 = 2.31 (PE 9.5, EPS 0.2372, DPS 0.06)
Decision	BUY if stock price strong sustain and start uptrend above 1.8
Comment	Revenue increased 28.1% and was second consecutive quarter increasing and also higher than preceding year corresponding quarter 16.5%, eps increased 94.3% and was second consecutive quarter increasing and also higher than preceding year corresponding quarter 63%, cash generated from investing enough to cover financing expenses and got borrowings to cover operating and investing expenses, gross margin increasing to satisfactory level, liquidity ratio indicate firm financial healthy, gearing ratio indicate financial leverage strength is getting weaker, all accounting of collection or repayment period still not satisfactory, all segment business recovered
First Support Price	1.8
Second Support Price	1.7
Risk Rating	MODERATE

Research House

OSK Target Price	2.94 (2012-08-01)
Jupiter Target Price	2.14 (2012-08-02)
AMMB Target Price	2.95 (2012-09-03)
Kenanga Target Price	2.94 (2012-09-03)
MIDF Target Price	3.01 (2012-09-03)
TA Target Price	3.17 (2012-09-03)

Accounting Ratio

Return on Equity	8.30%
Dividend Yield	3.24%
Gross Profit Margin	24.57%
Operating Profit Margin	19.35%
Net Profit Margin	30.48%
Tax Rate	10.64%
Asset Turnover	0.2951
Net Asset Value Per Share	3.31
Net Tangible Asset per share	3.27
Price/Net Tangible Asset Per Share	0.57
Cash Per Share	0.93
Liquidity Current Ratio	5.2435
Liquidity Quick Ratio	3.7253
Liquidity Cash Ratio	1.4021
Gearing Debt to Equity Ratio	0.7045
Gearing Debt to Asset Ratio	0.4077
Working capital per thousand Ringgit sale	166.8%
Days to sell the inventory	271
Days to collect the receivables	315
Days to pay the payables	172

Technical Analysis

SMA 10	1.865 (Uptrend)
SMA 20	1.872 (Uptrend 29 days)
SMA 50	1.808 (Uptrend)
SMA 100	1.82 (Downtrend)
SMA 200	1.843 (Same)
MACD (26d/12d)	0.014255 ( 0.002496 )
Signal (9)	0.017686 ( 0.000858 )
MACD Histogram	0.003431 (Bearish trend 13 days)
Bolinger Upper Band	1.981
Bolinger Lower Band	1.763

My notes based on 2012 quarter 2 report (number in '000):-
- Higher revenue and pbt from Property segment mainly contributed by the higher units of properties sold from existing properties under construction with sales and certain high-margin existing construction projects being substantially completed offset by loss in other segment mainly attributable to the quarry and premix operations in Malaysia and Fiji which reported lower sales and were running below capacity owing to reduced construction activities

- Estimate next 4Q eps after 2012 Q2 result announced = 802882*0.07/236944 = 0.2372, estimate PE on current price 1.85 = 7.55(DPS 0.06)
- Estimate next 4Q eps after 2012 Q1 result announced = 763498*0.065/236944 = 0.2094, estimate highest/lowest PE = 9.12/7.74 (DPS 0.06)
- Estimate next 4Q eps after 2011 Q4 result announced = 763498*0.06/236944 = 0.1933, estimate highest/lowest PE = 11.69/8.33 (DPS 0.06)
- Estimate next 4Q eps after 2011 Q3 result announced = 0.0433*4 = 0.1732, estimate highest/lowest PE = 13.34/8.43 (DPS 0.08)
- Estimate next 4Q eps after 2011 Q2 result announced = (0.0516+0.043)*2 = 0.1892(exclude RM10 million disposal gain), estimate highest/lowest PE = 10.15/7.93 (DPS 0.08)
- Estimate next 4Q eps after 2011 Q1 result announced = 0.4023*0.85 = 0.342(0.4023 from recent fourth quarter eps), estimate highest/lowest PE = 7.19/5.38 (DPS 0.1)
- Estimate next 4Q eps after 2010 Q4 result announced = 0.0921*4*0.9 = 0.3316, estimate highest/lowest PE = 9.77/8.84 (DPS 0.1)
- Estimate next 4Q eps after 2010 Q3 result announced = 0.2587*2*0.9 = 0.4657, estimate highest/lowest PE = 8.16/6.79 (DPS 0.1)
- Estimate next 4Q eps after 2010 Q2 result announced = 0.1619*2*1.1 = 0.3562, estimate highest/lowest PE = 10.47/8.84 (DPS 0.1)
- Estimate next 4Q eps after 2010 Q1 result announced = 0.2988 (10% drop from 0.332, due to profit decreasing), estimate highest/lowest PE = 11.28/8.57 (DPS 0.08)
- Estimate next 4Q eps after 2009 Q4 result announced = 0.0793*4 = 0.3172, estimate highest/lowest PE = 11.41/8.89 (DPS 0.08)
- Estimate next 4Q eps after 2009 Q3 result announced = 0.0902*4 = 0.3608, estimate highest/lowest PE = 9.87/6.59 (DPS 0.08)
- Estimate next 4Q eps after 2009 Q2 result announced = 0.0955*4 = 0.382, estimate highest/lowest PE = 8.04/6.73 (DPS 0.08)
- Estimate next 4Q eps after 2009 Q1 result announced = 0.0668*4 = 0.2672, estimate highest/lowest PE = 10.18/6.4 (DPS 0.13)
- Estimate next 4Q eps after 2008 Q4 result announced = 0.1118*4 = 0.4472, estimate highest/lowest PE = 4.07/2.17 (DPS 0.13)

NAIM latest news (English)

NAIM latest news (Chinese)

KLCI Stock - NAIM / 5073 - 2012 Quarter 1

Company Info 

Market Capital (Capital Size)	425,000,000 (Small)
Par Value	RM 1.00

My Analysis 

Forecast P/E now	(1.7-0.06)/0.2094 = 7.83 (Moderate)
Target Price	2.30+0.06 = 2.36 (PE 11.0, EPS 0.2094, DPS 0.06)
Decision	BUY if stock price sustain and uptrend above 1.65 or wait at lower price
Comment	Revenue increased 3.6% but lower than preceding year corresponding quarter 22.1%, eps increased 204.5% and also higher than preceding year corresponding quarter 31.6%, cash generated from investing enough to cover all expenses, gross margin surged, slightly weaker liquidity ratio but still at strong level now, higher gearing ratio at above moderate level now, higher debt ratio and almost historical high, inventory and receivables repayment period getting longer and this can cause increase more borrowing, no significant increase in property development cost can indicate no new property development project, higher inventory can indicate more properties held to sale or more construction material allocate, property development segment growth but construction segment getting poor to secure new project
First Support Price	1.65
Second Support Price	1.5
Risk Rating	MODERATE

Research House

MIDF Target Price	3 (2012-03-01)
AMMB Target Price	2.88 (2012-05-28)
Kenanga Target Price	2.94 (2012-05-28)

Accounting Ratio 

Return on Equity	6.80%
Dividend Yield	3.53%
Gross Profit Margin	23.84%
Operating Profit Margin	12.62%
Net Profit Margin	24.41%
Tax Rate	26.65%
Asset Turnover	0.2903
Net Asset Value Per Share	3.18
Net Tangible Asset per share	3.14
Price/Net Tangible Asset Per Share	0.55
Cash Per Share	0.97
Liquidity Current Ratio	5.2122
Liquidity Quick Ratio	3.6339
Liquidity Cash Ratio	1.5063
Gearing Debt to Equity Ratio	0.7293
Gearing Debt to Asset Ratio	0.4164
Working capital per thousand Ringgit sale	167.7%
Days to sell the inventory	275
Days to collect the receivables	290
Days to pay the payables	167

Technical Analysis 

SMA 20	1.811 (Downtrend 19 days)
SMA 50	1.91 (Downtrend)
SMA 100	1.948 (Uptrend)
SMA 200	1.854 (Downtrend)
MACD (26d/12d)	-0.065001 ( 9.7e-005 )
Signal (9)	-0.064012 ( 0.000247 )
MACD Histogram	0.000989 (Bearish trend 15 days)
Bolinger Upper Band	2.086
Bolinger Lower Band	1.536

My notes based on 2012 quarter 1 report (number in '000):-
- Higher pbt mainly due to the following:
* Improvement in margin for construction segment, especially from the substantially completed projects
* Improvement in performance of associates and joint ventures
* Decrease in administrative expense

- Higher revenue from Property segment mainly contributed by the higher units of properties sold from existing properties under construction

- Other segment recorded lower revenue and higher loss mainly attributable to the quarry and premix operations in Malaysia and Fiji which reported lower sales and were running below capacity owing to reduced construction activities

- Estimate next 4Q eps after 2012 Q1 result announced = 763498*0.065/236944 = 0.2094, estimate PE on current price 1.7 = 7.83(DPS 0.06)
- Estimate next 4Q eps after 2011 Q4 result announced = 763498*0.06/236944 = 0.1933, estimate highest/lowest PE = 11.69/8.33 (DPS 0.06)
- Estimate next 4Q eps after 2011 Q3 result announced = 0.0433*4 = 0.1732, estimate highest/lowest PE = 13.34/8.43 (DPS 0.08)
- Estimate next 4Q eps after 2011 Q2 result announced = (0.0516+0.043)*2 = 0.1892(exclude RM10 million disposal gain), estimate highest/lowest PE = 10.15/7.93 (DPS 0.08)
- Estimate next 4Q eps after 2011 Q1 result announced = 0.4023*0.85 = 0.342(0.4023 from recent fourth quarter eps), estimate highest/lowest PE = 7.19/5.38 (DPS 0.1)
- Estimate next 4Q eps after 2010 Q4 result announced = 0.0921*4*0.9 = 0.3316, estimate highest/lowest PE = 9.77/8.84 (DPS 0.1)
- Estimate next 4Q eps after 2010 Q3 result announced = 0.2587*2*0.9 = 0.4657, estimate highest/lowest PE = 8.16/6.79 (DPS 0.1)
- Estimate next 4Q eps after 2010 Q2 result announced = 0.1619*2*1.1 = 0.3562, estimate highest/lowest PE = 10.47/8.84 (DPS 0.1)
- Estimate next 4Q eps after 2010 Q1 result announced = 0.2988 (10% drop from 0.332, due to profit decreasing), estimate highest/lowest PE = 11.28/8.57 (DPS 0.08)
- Estimate next 4Q eps after 2009 Q4 result announced = 0.0793*4 = 0.3172, estimate highest/lowest PE = 11.41/8.89 (DPS 0.08)
- Estimate next 4Q eps after 2009 Q3 result announced = 0.0902*4 = 0.3608, estimate highest/lowest PE = 9.87/6.59 (DPS 0.08)
- Estimate next 4Q eps after 2009 Q2 result announced = 0.0955*4 = 0.382, estimate highest/lowest PE = 8.04/6.73 (DPS 0.08)
- Estimate next 4Q eps after 2009 Q1 result announced = 0.0668*4 = 0.2672, estimate highest/lowest PE = 10.18/6.4 (DPS 0.13)
- Estimate next 4Q eps after 2008 Q4 result announced = 0.1118*4 = 0.4472, estimate highest/lowest PE = 4.07/2.17 (DPS 0.13)

NAIM latest news (English)

NAIM latest news (Chinese)

KLCI Stock - NAIM / 5073 - 2011 Quarter 4

NAIM HOLDINGS BERHAD

My notes based on 2011 quarter 4 report (number in '000):-
- Property segment registered a slight improvement in its revenue, resulting from improved sales towards the last quarter of 2011. The return arising from the increase in sales will only be progressively reflected in the results of this segment within the next two years

- Lower revenue and loss from construction segment mainly due to lower stage of completion achieved on the existing on-going projects resulting from weather issues and additional design modification works for certain contracts

- Estimate next 4Q eps after 2010 Q4 result announced = 763498*0.06/236944 = 0.1933, estimate PE on current price 2.14 = 10.76(DPS 0.06)
- Estimate next 4Q eps after 2010 Q3 result announced = 0.0433*4 = 0.1732, estimate highest/lowest PE = 13.34/8.43 (DPS 0.08)
- Estimate next 4Q eps after 2010 Q2 result announced = (0.0516+0.043)*2 = 0.1892(exclude RM10 million disposal gain), estimate highest/lowest PE = 10.15/7.93 (DPS 0.08)
- Estimate next 4Q eps after 2010 Q1 result announced = 0.4023*0.85 = 0.342(0.4023 from recent fourth quarter eps), estimate highest/lowest PE = 7.19/5.38 (DPS 0.1)
- Estimate next 4Q eps after 2010 Q4 result announced = 0.0921*4*0.9 = 0.3316, estimate highest/lowest PE = 9.77/8.84 (DPS 0.1)
- Estimate next 4Q eps after 2010 Q3 result announced = 0.2587*2*0.9 = 0.4657, estimate highest/lowest PE = 8.16/6.79 (DPS 0.1)
- Estimate next 4Q eps after 2010 Q2 result announced = 0.1619*2*1.1 = 0.3562, estimate highest/lowest PE = 10.47/8.84 (DPS 0.1)
- Estimate next 4Q eps after 2010 Q1 result announced = 0.2988 (10% drop from 0.332, due to profit decreasing), estimate highest/lowest PE = 11.28/8.57 (DPS 0.08)
- Estimate next 4Q eps after 2009 Q4 result announced = 0.0793*4 = 0.3172, estimate highest/lowest PE = 11.41/8.89 (DPS 0.08)
- Estimate next 4Q eps after 2009 Q3 result announced = 0.0902*4 = 0.3608, estimate highest/lowest PE = 9.87/6.59 (DPS 0.08)
- Estimate next 4Q eps after 2009 Q2 result announced = 0.0955*4 = 0.382, estimate highest/lowest PE = 8.04/6.73 (DPS 0.08)
- Estimate next 4Q eps after 2009 Q1 result announced = 0.0668*4 = 0.2672, estimate highest/lowest PE = 10.18/6.4 (DPS 0.13)
- Estimate next 4Q eps after 2008 Q4 result announced = 0.1118*4 = 0.4472, estimate highest/lowest PE = 4.07/2.17 (DPS 0.13)

NAIM latest news (English)

NAIM latest news (Chinese)

KLCI Stock - NAIM / 5073 - 2011 Quarter 3

Company Info

Market Capital (Capital Size)	422,500,000 (Small)
Par Value	RM 1.00

My Analysis

Forecast P/E now	(1.69-0.08)/0.1732 = 9.30 (Moderate)
Target Price	1.73+0.08 = 1.81 (PE 10.0, EPS 0.1732, DPS 0.08)
Decision	Not interested unless stock price selling at above 1.7 is low or stock price below SMA20 and got stronger buying volume than selling
Comment	Revenue decreased 8.8% and was third consecutive quarter decreasing and also lower than preceding year corresponding quarter 33.1%, eps decreased 46.5% and also lower than preceding year corresponding quarter 73.3%, cash generated from operating and financing more than enough to cover all expenses, stronger liquidity ratio from high to strong level now, higher gearing ratio from moderate to above moderate level now, all accounting ratio still acceptable, property development cost maintain high, property development division performance getting bad
First Support Price	1.68
Second Support Price	1.55
Risk Rating	MODERATE

Research House

TA Target Price	5.53 (2011-01-26)
Kenanga Target Price	4.2 (2011-03-01)
MIDF Target Price	4.65 (2011-03-01)
CIMB Target Price	2.73 (2011-05-13)
OSK Target Price	3.04 (2011-05-23)
AMMB Target Price	4.46 (2011-05-27)

Accounting Ratio

Return on Equity	8.45%
Dividend Yield	5.92%
Profit Margin	13.30%
Tax Rate	21.42%
Asset Turnover	0.3984
Net Asset Value Per Share	3.13
Net Tangible Asset per share	3.09
Price/Net Tangible Asset Per Share	0.57
Cash Per Share	0.9
Liquidity Current Ratio	5.2183
Liquidity Quick Ratio	3.603
Liquidity Cash Ratio	1.4168
Gearing Debt to Equity Ratio	0.7196
Gearing Debt to Asset Ratio	0.4135
Working capital per thousand Ringgit sale	123.7%
Days to sell the inventory	187
Days to collect the receivables	222
Days to pay the payables	110

Technical Analysis

SMA 20	1.677 (Uptrend 8 days)
SMA 50	1.708 (Downtrend)
SMA 100	1.762 (Downtrend)
SMA 200	2.126 (Downtrend)
MACD	-0.028364 (Uptrend 20 days)
MACD Histogram	0.017700 (Uptrend 14 days)

My notes based on 2011 quarter 3 report (number in '000):-
- Lower revenue and pbt mainly attributed by lower stages of completion achieved for the housing and construction projects. A majority of the existing construction projects was substantially completed and contributed minimal profit

- Its oil and gas associate, Dayang Enterprise Holdings Bhd (DEHB) continues to contribute positively to the earnings of the Group

- Lower pbt than FY11Q2 mainly due to the gain on partial disposal of equity interest in DEHB of about RM10 million reported in the preceding quarter

- Lower results is due in part to the sluggish demand for properties in Sarawak over the past two years amidst fears of overheating in the property sector affected by uncertainties over increasing cost of commodities, rising interest rates and decreasing purchasing power, inability to secure major construction contracts was also a contributing factor

- As early as June 2011, the Group launched Phase 7 of our Riveria Project in Kuching, the demand for our houses there exceeded expectations. In fact, the value of properties sold up to 3Q2011 of RM170 million exceeded sales of RM145 million achieved in the whole of previous year. This will translate into property revenue from 2012

- Estimate next 4Q eps after 2010 Q3 result announced = 0.0433*4 = 0.1732, estimate PE on current price 1.69 = 9.3(DPS 0.08)
- Estimate next 4Q eps after 2010 Q2 result announced = (0.0516+0.043)*2 = 0.1892(exclude RM10 million disposal gain), estimate highest/lowest PE = 10.15/7.93 (DPS 0.08)
- Estimate next 4Q eps after 2010 Q1 result announced = 0.4023*0.85 = 0.342(0.4023 from recent fourth quarter eps), estimate highest/lowest PE = 7.19/5.38 (DPS 0.1)
- Estimate next 4Q eps after 2010 Q4 result announced = 0.0921*4*0.9 = 0.3316, estimate highest/lowest PE = 9.77/8.84 (DPS 0.1)
- Estimate next 4Q eps after 2010 Q3 result announced = 0.2587*2*0.9 = 0.4657, estimate highest/lowest PE = 8.16/6.79 (DPS 0.1)
- Estimate next 4Q eps after 2010 Q2 result announced = 0.1619*2*1.1 = 0.3562, estimate highest/lowest PE = 10.47/8.84 (DPS 0.1)
- Estimate next 4Q eps after 2010 Q1 result announced = 0.2988 (10% drop from 0.332, due to profit decreasing), estimate highest/lowest PE = 11.28/8.57 (DPS 0.08)
- Estimate next 4Q eps after 2009 Q4 result announced = 0.0793*4 = 0.3172, estimate highest/lowest PE = 11.41/8.89 (DPS 0.08)
- Estimate next 4Q eps after 2009 Q3 result announced = 0.0902*4 = 0.3608, estimate highest/lowest PE = 9.87/6.59 (DPS 0.08)
- Estimate next 4Q eps after 2009 Q2 result announced = 0.0955*4 = 0.382, estimate highest/lowest PE = 8.04/6.73 (DPS 0.08)
- Estimate next 4Q eps after 2009 Q1 result announced = 0.0668*4 = 0.2672, estimate highest/lowest PE = 10.18/6.4 (DPS 0.13)
- Estimate next 4Q eps after 2008 Q4 result announced = 0.1118*4 = 0.4472, estimate highest/lowest PE = 4.07/2.17 (DPS 0.13)

NAIM latest news (English)

NAIM latest news (Chinese)