KLCI Stock - ASIABIO / 0150 - 2012 Quarter 2

Company Info

Market Capital (Capital Size)	19,100,000 (Very Small)
Par Value	RM 0.10

My Analysis

Forecast P/E now	0.05/0.0048 = 10.42 (High)
Target Price	0.0048*4.0 = 0.02 (PE 4.0, EPS 0.0048)
Decision	Not interested unless stock price got strong uptrend signal
Comment	Revenue increased 59.8% and was second consecutive quarter increasing and largely higher than preceding year corresponding quarter, eps increased 125% loss and also largely higher loss than preceding year corresponding quarter, cash generated from operating more than enough to cover all financing expenses and generated more cash from financing activity to cover investing expenses but still not enough, weaker liquidity from high to medium level now, lower gearing ratio from low to very low level now, IT division continue contributed high profit
First Support Price	0.05
Second Support Price	0.04
Risk Rating	HIGH

Accounting Ratio

Return on Equity	-2.39%
Dividend Yield	-
Profit Margin	21.81%
Tax Rate	7.20%
Asset Turnover	0.1009
Net Asset Value Per Share	0.13
Net Tangible Asset per share	0.1
Price/Net Tangible Asset Per Share	0.45
Cash Per Share	0.0
Liquidity Current Ratio	2.8695
Liquidity Quick Ratio	2.1505
Liquidity Cash Ratio	0.5164
Gearing Debt to Equity Ratio	0.0995
Gearing Debt to Asset Ratio	0.0847
Working capital per thousand Ringgit sale	59.0%
Days to sell the inventory	106
Days to collect the receivables	173
Days to pay the payables	129

My notes based on 2012 quarter 2 report (number in '000):-
- Higher revenue mainly due to inclusion of ABT’s newly acquired incubatee company, Ecompazz IT Sdn Bhd

- Loss after tax mainly due to high minority interest

- Estimate next 4Q eps after 2012 Q2 result announced = 0.0012*4 = 0.0048, estimate PE on current price 0.05 = 10.42
- Estimate next 4Q eps after 2012 Q1 result announced = 0.0004*4*1.05 = 0.0017, estimate highest/lowest PE = 44.12/23.53
- Estimate next 4Q eps after 2011 Q4 result announced = (0.001+0.0023)/2 = 0.0017, estimate highest/lowest PE = 47.06/32.35
- Estimate next 4Q eps after 2011 Q3 result announced = 0.0042, estimate highest/lowest PE = 20.24/13.1
- Estimate next 4Q eps after 2011 Q2 result announced = 0.0042, estimate highest/lowest PE = 19.05/14.29
- Estimate next 4Q eps after 2011 Q1 result announced = 0.0036+0.0006(average of eps per quarter in year 2009)*4 = 0.006, estimate highest/lowest PE = 14.17/10.08

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