KLCI Stock - NATBIO / 7237 - 2011 Quarter 1

Par Value: 0.20
Market Cap : 300000000*0.585 = 175,500,000 (Small)
NTA per share : (196444-155-5227)/300000 = 0.64 (Increased)
P/BV : 0.585/0.64 = 0.914
Forecast P/E now : (0.585-0.04)/0.0372 = 14.65 (High)
ROE : 6.52% (Low)
DY : 0.04/0.585*100 = 6.84% (Moderate)
Fixed Asset Turnover(3 year) : (0.7083+0.6227+0.7023)/3 = 0.6778 (Low)
Liquidity Ratio : 152958/39665 = 3.8562 (High)
Receivables Collection Period : (59349+48697)/2/(169676/365) = 116 days (Slightly improved)
My Target Price : Not interested unless revenue and profit increase more
My Decision : NOT BUY
My Comment : Revenue and profit increasing, good cash flow, low debt but increased, navps slightly increasing
Technical Support Price : 0.5
Risk Rating : HIGH

My notes based on 2011 Quarter 1 report (number in '000):-
- The Group recorded 50% increase of revenue and RM2.5 million as compared to previous year's corresponding quarter. The increase was mainly attributable to the increase in sales from the Group's Fast Moving Consumer Goods ("FMCG") business in both domestic market and oversea market in particular arising from aggressive promotional and marketing activities in sponsoring World Cup 2010 and launching of the 3rd season of "You Can Be A Millionaire" contest; and sales from the Group's new Multi Level Marketing business
- The Group's revenue for the current quarter, represented an increase of 33.2% and PAT increase of RM5.4 million when compared to the revenue recorded for the immediate preceding quarter. The increase in sales was same as above
- Estimate next 4Q eps after 2011 Q1 result announced = 0.0338*1.1 = 0.0372(10% increase from 0.0338), estimate PE on current price 0.54 = 14.79(DPS 0.04)
- Estimate next 4Q eps after 2010 Q4 result announced = 0.0338(follow 2010 cumulative eps), estimate highest/lowest PE = 16.57/13.46 (DPS 0.04)
- Estimate next 4Q eps after 2010 Q3 result announced = 0.04, estimate highest/lowest PE = 14.25/11.13 (DPS 0.04)
- Estimate next 4Q eps after 2010 Q2 result announced = 0.0395, estimate highest/lowest PE = 14.68/12.03 (DPS 0.04)
- Estimate next 4Q eps after 2010 Q1 result announced = 0.034, estimate highest/lowest PE = 17.94/12.35 (DPS 0.03)

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