KLCI Stock - MUDAJYA / 5085 - 2010 Quarter 1

Market Cap : 411238500*5.09 = 2,093,203,965 (Medium)
NTA per share : 595225/409624 = 1.45
P/BV : 5.09/1.45 = 3.5103
Forecast P/E now : (5.09-0.04)/0.494 = 10.22 (Moderate)
ROE : 30.99% (High)
DY : 0.04/5.09*100 = 0.79% (Low)
Fixed Asset Turnover(3 year) : (0.9154+1.0331+0.8432)/3 = 0.9306 (Moderate)
Liquidity Ratio : 295086/253642 = 1.1634 (Low)
Receivables Collection Period : (242514+109638)/2/(833950/365) = 77 days (Acceptable)
My Target Price : 5.928+0.36 = 5.96 (PE 12, EPS 0.494, DPS 0.036)
My Decision : BUY
My Comment : Revenue growing, better margin, good cash flow, low debt, strong cash, navps increasing
Technical Support Price : 4.8
Risk Rating : MODERATE
OSK Target Price : 7.33 (13 May 10)

My notes based on 2010 Q1 report (number in '000):
- The growth in revenue and profit before taxation were mainly attributable to the increased level of activities during the current quarter as compared to the previous corresponding quarter
- The increase in profit before taxation as compared to the preceding quarter was mainly attributable to the increased level of higher profit margin activities during the current quarter
- My estimate next 4Q eps after 2010 Q1 result announced = 0.1235*4 = 0.494, estimate PE on current price 5.09 = 10.22(DPS 0.04)
- My estimate next 4Q eps after 2009 Q4 result announced = 0.1102*4 = 0.4408, estimate highest/lowest PE = 12.51/10.81 (DPS 0.036)
- Estimate next 4Q eps after 2009 Q3 result announced = 0.0948*4 = 0.3792, estimate highest/lowest PE = 13.76/10.68 (DPS 0.031)
- Estimate next 4Q eps after 2009 Q2 result announced = 0.0711*4 = 0.2844, estimate highest/lowest PE = 14.31/11.25 (DPS 0.031)
- Estimate next 4Q eps after 2009 Q1 result announced = 0.0377*4 = 0.1508, estimate highest/lowest PE = 24.6/9.08 (DPS 0.031)
- Estimate next 4Q eps after 2008 Q4 result announced = 0.0278*4 = 0.1112, estimate highest/lowest PE = 13.98/9.58 (DPS 0.045)

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