KLCI Stock - MYEG / 0138 - 2012 Quarter 2

MY E.G. SERVICES BERHAD

My notes based on 2012 quarter 2 report (number in '000):-
- Higher pbt is driven primarily by:
i) The introduction of cloud computing based services which contributed positively to the group
ii) Higher volumes from our JPJ-related services as brand awareness continue to grow as a result of the ongoing advertising and promotion campaigns; and
iii) Higher volume from our Insolvency search services as users are finding it more convenient to conduct the bankruptcy search online

- Higher revenue and pbt than FY12Q1 primarily attributable to higher volume from JPJ related services in Q2 FY2012 as more students are taking their driving licensing test during the school holidays

- Estimate next 4Q eps after 2012 Q2 result announced = 108028*0.29/600375 = 0.0522, estimate PE on current price 0.69 = 13.01(DPS 0.011)
- Estimate next 4Q eps after 2012 Q1 result announced = 0.0424*1.1 = 0.0466, estimate highest/lowest PE = 15/12.75 (DPS 0.011)
- Estimate next 4Q eps after 2011 Q4 result announced = (0.0105+0.0132)*2 = 0.0474, estimate highest/lowest PE = 13.69/11.9 (DPS 0.011)
- Estimate next 4Q eps after 2011 Q3 result announced = 0.0105*4*1.1 = 0.0462, estimate highest/lowest PE = 16.75/12.64 (DPS 0.011)
- Estimate next 4Q eps after 2011 Q2 result announced = 0.0097*4*1.1 = 0.042, estimate highest/lowest PE = 19.62/16.29 (DPS 0.006)
- Estimate next 4Q eps after 2011 Q1 result announced = 0.032*1.1 = 0.0352, estimate highest/lowest PE = 26.7/20.45 (DPS 0.005)
- Estimate next 4Q eps after 2010 Q4 result announced = 0.0097*4*1.1 = 0.0427, estimate highest/lowest PE = 19.32/16.16 (DPS 0.005)
- Estimate next 4Q eps after 2010 Q3 result announced = 0.0088*4 = 0.0352, estimate highest/lowest PE = 24.57/14.91 (DPS 0.01)
- Estimate next 4Q eps after 2010 Q2 result announced = 0.0079*4 = 0.0316, estimate highest/lowest PE = 20.57/12.66 (DPS 0.01)
- Estimate next 4Q eps after 2010 Q1 result announced = 0.0074*4 = 0.0296, estimate highest/lowest PE = 18.44/13.88 (DPS 0.0092)
- Estimate next 4Q eps after 2009 Q4 result announced = 0.0069*4 = 0.0276, estimate highest/lowest PE = 19.63/14.37 (DPS 0.01835)

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