KLCI Stock - HEXAGON / 7455 - 2012 Quarter 2

HEXAGON HOLDINGS BHD

Company Description

HEXAGON HOLDINGS BERHAD is a Malaysia-based investment holding company. The activities of its subsidiaries include the provision of plant and process engineering services, manufacturing and provision of inspection services for lead frames, providing corporate services to related companies and manufacturing of fiber reinforced plastic (FRP) tanks. It has four segments: manufacturing (retail solutions section and semiconductor section), trading and services, engineering and investment holding. Its subsidiaries include Hexagon Tower Sdn. Bhd., Advance Metal Substrate Technology Sdn. Bhd., Hexagon Corporate Services Sdn. Bhd., Hexagon Engineering Construction Sdn. Bhd. and Hexagon Composite Engineering Sdn. Bhd.

Company Info

Listing Date	1996-09-13
Market Capital (Capital Size)	25,212,096 (Very Small)
Par Value	RM 0.50
Board	Main
Sector	Trading/Services
Major Industry	Industrial Engineering Services
Sub Industry	Supply & install shop interiors
Website	http://www.hexagonholdings.com/

My Analysis

Forecast P/E now	0.19/0.0108 = 17.59 (High)
Target Price	0.0108*4.0 = 0.04 (PE 4.0, EPS 0.0108)
Decision	Not interested unless Bolinger upper band open and stock price go up
Comment	Revenue increased 1.4% and was second consecutive quarter increasing but lower than preceding year corresponding quarter 15.3%, eps increased 175% loss and also loss 372.3% compared to preceding year corresponding quarter, cash generated from assets and liabilities not enough to cover financing expenses hence got negative cash flow, slightly better liquidity ratio at low level now, higher gearing ratio at very high level now, receivables ratio is very high, highly uncertain in Engineering division
First Support Price	0.185
Second Support Price	0.175
Risk Rating	HIGH

Accounting Ratio

Return on Equity	-86.86%
Dividend Yield	-
Profit Margin	-10.48%
Tax Rate	-
Asset Turnover	0.8505
Net Asset Value Per Share	0.32
Net Tangible Asset per share	0.31
Price/Net Tangible Asset Per Share	0.68
Cash Per Share	0.21
Liquidity Current Ratio	1.03
Liquidity Quick Ratio	0.8427
Liquidity Cash Ratio	0.1127
Gearing Debt to Equity Ratio	6.889
Gearing Debt to Asset Ratio	0.8251
Working capital per thousand Ringgit sale	2.4%
Days to sell the inventory	51
Days to collect the receivables	216
Days to pay the payables	100

Technical Analysis

SMA 20	0.193 (Downtrend 1 day)
SMA 50	0.2 (Downtrend)
SMA 100	0.198 (Same)
SMA 200	0.249 (Downtrend)
MACD	-0.004871 (Uptrend 2 days)
MACD Histogram	-0.000028 (Downtrend 3 days)

My notes based on 2012 quarter 2 report (number in '000):-
- Lower revenue and than FY11Q2 primarily due to lower revenue from Engineering division as most of the major projects had been completed in previous financial year, loss also due to lower revenue and margin in Engineering division

- Compared to FY12Q1, although higher revenue but recorded higher loss, this is due to lower margin suffered in Engineering division

- Estimate next 4Q eps after 2012 Q2 result announced = 71710*4*0.005/132695 = 0.0108(if can achieve 0.5%/qrt profit margin from revenue), estimate PE on current price 0.19 = 17.59
- Estimate next 4Q eps after 2012 Q1 result announced = 70721*4*0.01/132695 = 0.0213(if can achieve 1% profit margin from revenue), estimate highest/lowest PE = 15.02/6.34
- Estimate next 4Q eps after 2011 Q4 result announced = 72198*0.025/132695 = 0.0136, estimate highest/lowest PE = 26.84/12.87
- Estimate next 4Q eps after 2011 Q3 result announced = 0.0042*4*1.05 = 0.0176, estimate highest/lowest PE = 29.55/22.73
- Estimate next 4Q eps after 2011 Q2 result announced = 0.0065*4 = 0.026, estimate highest/lowest PE = 23.65/16.15
- Estimate next 4Q eps after 2011 Q1 result announced = 0.0059*4 = 0.0236, estimate highest/lowest PE = 25.42/17.8

HEXAGON latest news (English)

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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
2011-11-29	2012	2	N/A	N/A	-	11.83%	16.13%	71710	142431	7514	9435	7438	10144	0.0561	0.0764	359476	296600	19822	62876	25031	1066	34806	10158	23965	10841	683	132695	132695	27865	2011-09-30	10.48%	-	0.8505	-	0.32	0.31	0.68	0.21	1.03	0.8427	0.1127	6.889	0.8251	2.4%	51	216	100
2011-08-23	2012	1	0.32	0.135	-	3.89%	3.89%	70721	70721	1921	1921	2706	2706	0.0204	0.0204	400645	331019	19436	69626	7811	735	10331	10158	7076	3255	6903	132695	132695	29856	2011-06-30	2.72%	-	0.7955	-	0.38	0.36	0.62	0.31	1.0094	0.825	0.1398	6.5953	0.8262	0.9%	59	230	104
2011-05-30	2011	4	0.365	0.175	-	71.18%	65.51%	56638	326781	49412	45231	51073	47003	0.3849	0.3542	429013	357264	18934	71749	13514	3391	16082	15357	10123	5959	9398	132695	132695	55068	2011-03-31	87.24%	-	0.7617	-	0.4	0.38	1.09	0.51	0.9951	0.8239	0.2085	6.7644	0.8328	-0.5%	60	221	95
2011-02-23	2011	3	0.52	0.4	-	0.45%	3.35%	106655	270143	1144	4182	552	4071	0.0042	0.0307	470601	349076	18326	121525	10728	1652	23452	15357	12380	11072	26429	132695	132695	65020	2010-12-31	1.07%	6.12%	0.9245	-	0.78	0.76	0.64	0.3	1.2802	1.0983	0.1421	3.3826	0.7418	18.3%	46	227	78
2010-11-24	2011	2	0.615	0.42	-	2.26%	2.91%	84699	163488	2099	3037	2729	3518	0.0206	0.0265	464080	343232	17117	120848	797	2232	5990	15357	3029	2961	18318	132695	132695	61039	2010-09-30	2.48%	-	0.8398	-	0.78	0.77	0.6	0.24	1.2663	1.0609	0.1165	3.3089	0.7396	18.9%	55	242	96
2010-08-24	2011	1	0.6	0.42	-	0.67%	0.67%	78789	78789	938	938	789	789	0.0059	0.0059	446746	328512	17135	118234	3792	1075	7509	15357	2717	4792	10565	132695	132695	78953	2010-06-30	1.19%	35.61%	0.8981	-	0.76	0.75	0.79	0.19	1.1866	0.9897	0.0902	3.2494	0.7353	13.1%	53	228	89
2010-05-31	2010	4	0.99	0.595	-	0.28%	3.65%	164918	413985	2953	7223	324	4298	0.0024	0.0324	427570	309900	17020	117670	254	12430	3962	23571	12176	8214	15357	132695	132695	92886	2010-03-31	1.79%	-	0.9682	-	0.76	0.74	0.95	0.23	1.2106	0.9947	0.1181	3.079	0.7248	13.3%	52	200	62
2010-02-23	2010	3	0.955	0.64	-	6.53%	3.92%	61318	249067	8752	4232	7632	4584	0.0575	0.0345	456545	339729	17283	116816	21873	6563	22026	23571	28436	6410	17161	132695	132695	126723	2009-12-31	14.27%	-	0.7298	-	0.75	0.73	1.31	0.23	1.202	0.6623	0.1031	3.4132	0.7441	17.8%	183	180	116
2009-11-26	2010	2	1.3	0.785	-	1.40%	2.39%	96205	187749	2599	4519	1780	3048	0.0134	0.0230	421693	294109	18773	127584	5172	5879	3065	23571	11051	14116	9455	132695	132695	121415	2009-09-30	2.70%	16.74%	0.8576	-	0.82	0.8	1.14	0.17	1.3097	0.7984	0.0944	2.7029	0.6974	20.8%	133	173	87
2009-08-26	2010	1	1.1	0.865	0.01	1.00%	1.00%	91545	91545	1920	1920	1268	1268	0.0096	0.0096	427324	300798	18094	126526	7751	1780	8216	23571	5971	2245	21326	132695	132695	148618	2009-06-30	2.10%	76.93%	0.8293	-	0.82	0.8	1.4	0.25	1.2881	0.8237	0.1312	2.7741	0.7039	20.6%	128	180	98
2009-05-28	2009	4	1.36	1.01	-	0.10%	2.60%	84128	346062	1413	8354	124	3318	0.0009	0.0250	426949	299115	19445	127834	38976	600	49300	21676	38376	10924	32600	132695	132695	155253	2009-03-31	1.68%	45.93%	0.8105	46.7912	0.82	0.8	1.46	0.27	1.3112	0.8317	0.1432	2.7596	0.7006	22.4%	135	181	104
2009-02-25	2009	3	1.35	0.81	-	0.18%	2.40%	89755	261935	800	6941	236	3194	0.0018	0.0241	385085	252124	18798	132961	11652	1400	2783	21676	13052	10269	31945	132695	132695	171176	2008-12-31	0.89%	80.50%	0.9695	-	0.86	0.84	1.54	0.26	1.4224	0.9545	0.1732	2.2085	0.6547	22.8%	100	154	102
2008-11-27	2009	2	1.53	1.28	-	2.09%	2.37%	88952	172179	3920	6140	2610	2958	0.0197	0.0223	379001	254290	19077	124711	11225	8099	9413	21676	3126	6287	27963	132695	132695	199042	2008-09-30	4.41%	29.77%	1.0569	-	0.8	0.78	1.92	0.23	1.3791	0.9281	0.1519	2.4073	0.6709	19.3%	93	144	85
2008-08-28	2009	1	1.68	1.11	-	0.28%	0.28%	83228	83228	2220	2220	348	348	0.0026	0.0026	341467	215804	19085	125663	863	7783	12405	21677	8646	3759	17918	132695	132695	220273	2008-06-30	2.67%	48.02%	1.2234	-	0.8	0.79	2.1	0.16	1.4702	0.9361	0.1268	2.0248	0.632	18.6%	86	117	67
2008-05-30	2008	4	1.73	1.5	0.02	1.39%	12.97%	111403	395768	1841	19360	1578	14730	0.0119	0.1110	379308	265738	18327	113570	38627	12515	27310	20478	26112	1198	21676	132695	132695	220273	2008-03-31	1.65%	-	1.0434	14.9541	0.72	0.7	2.37	0.19	1.3027	0.8582	0.1149	2.7901	0.7006	16.4%	98	147	103
2008-02-26	2008	3	6.0	1.55	-	4.73%	13.49%	117000	284365	6692	17518	4617	13153	0.1120	0.3190	368708	271180	17896	97528	27246	918	31328	20478	28164	3164	23642	41232	41232	228837	2007-12-31	5.72%	23.94%	0.9064	-	1.93	1.87	2.97	0.65	1.2594	0.8332	0.1227	3.4054	0.7355	16.9%	114	168	122
2007-11-27	2008	2	6.9	4.7	-	6.38%	9.02%	106119	167366	8012	10827	6036	8536	0.1464	0.2070	371477	276879	17426	94598	7595	578	25690	20478	8173	17517	37995	41232	41232	257700	2007-09-30	7.55%	20.61%	0.79	-	1.87	1.82	3.43	0.99	1.2235	0.8293	0.1818	3.5878	0.7453	17.2%	125	182	159
2007-08-28	2008	1	6.3	6.0	-	2.74%	2.74%	61248	61248	2815	2815	2500	2500	0.0606	0.0606	324670	233481	14645	91189	12449	575	11924	20478	13024	1100	19378	41232	41232	107203	2007-06-30	4.60%	16.27%	0.577	-	1.86	1.81	1.44	0.54	1.2054	0.807	0.1231	3.0503	0.7191	19.9%	158	242	185
2007-05-29	2007	4	N/A	N/A	-	3.27%	17.78%	49846	274914	3175	17963	2761	15004	0.0670	0.3643	306748	222377	15308	84371	36567	3693	50926	9812	40260	10666	20478	41185	41185	113258	2007-03-31	6.37%	41.26%	0.4111	7.5486	1.68	1.64	1.68	0.57	1.2232	0.9011	0.1377	3.2199	0.725	30.2%	177	377	277
2007-02-27	2007	3	N/A	N/A	-	4.97%	14.89%	76255	225068	4900	14788	4090	12243	0.0993	0.2973	286288	204076	16225	82212	25529	830	31987	9812	26359	5628	15440	41185	41185	210043	2006-12-31	6.43%	14.98%	0.2664	-	1.6	1.56	3.27	0.37	1.019	0.6929	0.0821	3.0927	0.7128	4.7%	330	550	472

Financial Quarter Balance Sheet

year	qrt	Deferred tax assets (A-0)	Development Expenditure (A-0)	Goodwill on consolidation (A-0)	Investment in associated companies (A-0)	Property, plant and equipment (A-0)	Cash and cash equivalents (A-1)	Current tax assets (A-1)	Derivative assets (A-1)	Inventories (A-1)	Other investments (A-1)	Trade receivables (A-1)	Deferred tax liabilities (L-0)	Loans & borrowings (L-0)	Provision for retirement benefits (L-0)	Current tax liabilities (L-1)	Loans & borrowings (L-1)	Provision for retirement benefits (L-1)	Trade and other payables (L-1)	Minority interest (M-1)
2012	2	5526	42	2035	1247	93559	25128	905	106	46744	3000	181184	771	42626	3625	1730	156482	26	91340	19822
2012	1	5511	63	2035	909	95496	38075	836	106	54199	3000	200415	778	32951	3419	2281	195993	26	95571	19436
2011	4	5841	84	2035	738	97863	64565	1353	106	55463	3000	197965	1125	28887	3213	2205	233482	26	88326	18934
2011	3	5429	105	2035	764	98623	36657	974	-	51671	3695	270648	877	61089	3062	2335	193161	26	88526	18326
2011	2	4252	126	2035	787	107038	29196	2854	-	56747	3000	258045	877	63219	2856	3387	174256	27	98610	17117
2011	1	4066	147	2035	569	105901	22401	2168	-	55436	3000	251023	870	43522	2621	3459	184189	27	93824	17135
2010	4	4015	168	2035	586	103946	27896	2472	-	56487	3000	226965	877	43099	4216	3770	190644	27	67267	17020
2010	3	1090	-	2287	-	99398	27352	-	-	158844	3001	164573	417	45000	-	2899	190383	-	101030	17283
2010	2	1005	-	2274	-	100042	19950	-	-	124288	3001	171133	340	50673	-	4361	157825	-	80910	18773
2010	1	1416	-	2251	-	97834	30189	-	-	117486	3001	175147	357	47500	-	3636	159298	-	90007	18094
2009	4	575	-	2263	-	98054	32600	-	-	119246	3001	171210	442	50000	-	4559	161897	-	91335	19445
2009	3	575	-	2280	-	95286	31945	-	-	94392	3001	157606	386	50000	-	4536	109815	-	96459	18798
2009	2	619	-	2292	-	94964	27963	-	-	91939	3001	158223	440	50000	-	2633	122011	-	84472	19077
2009	1	619	-	2309	-	95784	17934	-	-	88191	3006	133624	441	50250	-	3657	99945	-	68825	19085
2008	4	554	-	2031	-	96855	21676	-	-	95498	3006	159688	393	50500	-	2036	112098	-	100711	18327
2008	3	554	-	2343	-	92328	23642	-	-	92550	3006	154285	393	53642	-	4815	112975	-	99355	17896
2008	2	554	-	2030	-	93011	37995	-	-	88880	3006	146001	393	51000	-	2416	109979	-	113091	17426
2008	1	610	-	2030	-	102850	19377	-	-	72441	3002	124360	393	51250	-	1140	95962	-	84736	14645
2007	4	2578	-	1461	-	94185	20478	-	-	54912	3002	130132	403	51500	-	980	83789	-	85705	15308
2007	3	1239	-	1598	-	91696	15440	-	-	61379	2	114934	403	15500	-	307	100850	-	87630	16225

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	Selling and distribution costs	Investment gain/loss	Impairment loss	(Allowance)/Writeback of allowance for doubtful receivables	Foreign exchange (loss)/gain
2012	2	71710	450	66674	3213	740	10751	374	338	2300	-	0	-	2636
2012	1	70721	534	57487	3191	602	10747	251	171	2071	-	-	5	86
2011	4	56638	254	69917	2961	1321	17931	1407	83	3522	-	-	12256	701
2011	3	106655	70	91700	3187	1714	9802	522	-	1713	22	-	427	374
2011	2	84699	11	66153	2816	651	10640	619	-	2487	218	-	429	1802
2011	1	78789	334	61741	2890	302	10715	185	-	1972	17	-	394	424
2010	4	164918	2216	144834	2447	1703	16231	1061	-	2663	69	-	1498	1970
2010	3	61318	448	52790	2621	654	10309	672	-	2353	43	-	298	2396
2010	2	96205	435	77166	2029	573	10726	384	-	2232	112	-	300	468
2010	1	91545	1477	74220	2293	1201	10697	825	-	2536	102	-	314	664
2009	4	84128	649	68823	2746	3808	11836	640	-	2921	142	-	587	532
2009	3	89755	644	75984	2788	4792	11793	80	-	3182	-	-	-	-
2009	2	88952	1167	70273	2677	871	10224	143	-	2729	-	-	-	-
2009	1	83228	1066	63480	2783	2197	9585	806	-	2963	-	-	-	-
2008	4	111403	108	96094	3150	1293	8377	371	-	3234	-	-	-	-
2008	3	117000	1602	93310	2853	208	10614	473	-	3323	-	-	-	-
2008	2	106119	1651	83236	2253	201	9731	325	-	3088	-	-	-	-
2008	1	61248	458	45387	2092	332	8979	143	-	2307	-	-	-	-
2007	4	49846	1310	37382	2054	3842	7789	896	-	3288	-	-	-	-
2007	3	76255	734	58577	2215	1143	9216	76	-	2490	-	-	-	-

Financial Quarter Segments Revenue

year	qrt	Elimination/Adjustment	Manufacturing	Manufacturing in Retail Solutions	Manufacturing in Semiconductor	Trading & service	Engineering
2012	2	8121	-	46522	2795	7896	22618
2012	1	8733	-	44312	3192	8570	23380
2011	4	25889	-	33901	1619	9073	37934
2011	3	5320	-	38335	3696	12613	57331
2011	2	9011	-	26592	5731	12895	48492
2011	1	12153	-	36245	3783	12279	38635
2010	4	2032	28058	-	-	8273	130619
2010	3	13104	46044	-	-	12203	16175
2010	2	11655	58880	-	-	14905	34075
2010	1	7361	46986	-	-	11581	40339
2009	4	26994	52655	-	-	23281	35186
2009	3	6985	51863	-	-	17827	27050
2009	2	9905	49547	-	-	17706	31604
2009	1	6464	38177	-	-	13713	37802
2008	4	11098	59473	-	-	16617	46411
2008	3	5026	68503	-	-	20447	33076
2008	2	7974	65459	-	-	13972	34662
2008	1	4900	24469	-	-	8276	33403
2007	4	2967	27633	-	-	11469	13711
2007	3	1553	36997	-	-	10479	30332

Financial Quarter Segments Profit

year	qrt	Elimination/Adjustment	Investment holding	Manufacturing	Manufacturing in Retail Solutions	Manufacturing in Semiconductor	Trading & service	Engineering
2012	2	767	710	-	1506	1643	512	4957
2012	1	973	705	-	2925	1659	228	127
2011	4	821	716	-	3087	4181	634	38361
2011	3	111	541	-	2360	1950	87	3426
2011	2	1402	671	-	1738	541	1434	6273
2011	1	1014	694	-	2172	1219	39	3251
2010	4	30	964	8545	-	-	1117	5919
2010	3	1138	1275	7025	-	-	2454	810
2010	2	1885	690	3624	-	-	170	2141
2010	1	136	700	719	-	-	793	3825
2009	4	5008	6369	3494	-	-	268	822
2009	3	-	130	1312	-	-	2183	223
2009	2	30	182	1514	-	-	1579	3716
2009	1	31	3093	2273	-	-	1315	4477
2008	4	542	2235	3253	-	-	993	2438
2008	3	250	583	5439	-	-	1371	2402
2008	2	288	743	5798	-	-	1552	1884
2008	1	44110	35540	321	-	-	567	13231
2007	4	410	4667	971	-	-	1448	1449
2007	3	605	133	2925	-	-	1296	2423

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

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●CHANGES IN SHAREHOLDING
●ANNUAL REPORTS

HISTORICAL

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●CHANGES IN SHAREHOLDING

ARCHIVES

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●CHANGES IN SHAREHOLDING

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1-Years Historical Chart from shareinvestor.com

5-Years Historical Chart from shareinvestor.com