KLCI Stock - WASEONG / 5142 - 2012 Quarter 1

WAH SEONG CORPORATION BHD



Company Description

Wah Seong Corporation Berhad is engaged in investment holding and the provision of management services to subsidiaries. It operates in three segments: oil and gas; industrial services, and others. Its oil and gas segment include pipe-coating services for the oil and gas industry; fabrication and rental of gas compressors and process equipment; design, installation and commissioning of special tanks, pressure vessels and piping; manufacturing, supply and installation of sacrificial anodes; provision of cathode and corrosion protection services and marketing, and provision related services. Its industrial services segment include the marketing and distribution of building materials, installation services of metal roofing and manufacturing of spiral welded steel pipes for civil and water works. It is also engaged in processing equipment, manufacturing and distribution of replacement parts for palm oil mills and refineries, and the sale and services of turbines and equipment.

Company Info

Listing Date	2002-07-09
Market Capital (Capital Size)	1,542,026,710 (Large)
Par Value	RM 0.50
Board	Main
Sector	Industrial Products
Major Industry	Oil & Gas Pipe-coating
Sub Industry	Manufacturing of Mill & Biomass
Website	http://www.wahseong.com/

My Analysis

Forecast P/E now	(1.99-0.06)/0.1199 = 16.10 (High)
Target Price	1.92+0.06 = 1.98 (PE 16.0, EPS 0.1199, DPS 0.06)
Decision	Not interested unless stock price strong sustain above 2
Comment	Revenue decreased 6.3% and also lower than preceding year corresponding quarter 1.9%, eps decreased 8.7% and was fourth consecutive quarter decreasing (lower than preceding year corresponding quarter 59.1%), cash generated from operating enough to cover financing expenses and got borrowings to cover investing expenses, gross margin dropped below 15%, slightly weaker liquidity ratio at low level now, higher gearing ratio at high level now, debt ratio still as usual around 50%, all collection/repayment period is good
First Support Price	1.9
Second Support Price	1.79
Risk Rating	MODERATE

Research House

MIDF Target Price	2.28 (2012-02-23)
HwangDBS Target Price	2.05 (2012-07-04)
Kenanga Target Price	2.23 (2012-07-04)
Maybank Target Price	2.4 (2012-07-04)
OSK Target Price	2.06 (2012-07-04)
AMMB Target Price	2.35 (2012-07-09)
CIMB Target Price	2.52 (2012-07-13)

Accounting Ratio

Return on Equity	8.07%
Dividend Yield	3.02%
Gross Profit Margin	13.50%
Operating Profit Margin	6.60%
Net Profit Margin	4.91%
Tax Rate	-
Asset Turnover	0.818
Net Asset Value Per Share	1.29
Net Tangible Asset per share	1.14
Price/Net Tangible Asset Per Share	1.68
Cash Per Share	0.75
Liquidity Current Ratio	1.782
Liquidity Quick Ratio	1.4648
Liquidity Cash Ratio	0.6956
Gearing Debt to Equity Ratio	1.2173
Gearing Debt to Asset Ratio	0.5259
Working capital per thousand Ringgit sale	34.7%
Days to sell the inventory	63
Days to collect the receivables	120
Days to pay the payables	83

Technical Analysis

SMA 20	1.924 (Uptrend 14 days)
SMA 50	1.922 (Downtrend)
SMA 100	1.974 (Same)
SMA 200	1.989 (Same)
MACD (26d/12d)	0.020952 ( 0.002232 )
Signal (9)	0.010014 ( 0.002734 )
MACD Histogram	0.010938 (Bullish trend 21 days)
Bolinger Upper Band	2.029
Bolinger Lower Band	1.819

My notes based on 2012 quarter 1 report (number in '000):-
- Lower revenue and pbt from Oil & Gas Segment than FY11Q1 was the result of lower margin projects

- Higher revenue and pbt from Renewable Energy Segment than FY11Q1 due to improving margins on new projects secured/executed

- Higher revenue and pbt from Industrial Trading & Services Segment than FY11Q1 due to the continued demand from the construction and infrastructure sectors in the country for services provided by this segment

- Estimate next 4Q eps after 2012 Q1 result announced = 1089600*0.085/772143 = 0.1199, estimate PE on current price 1.99 = 16.1(DPS 0.06)
- Estimate next 4Q eps after 2011 Q4 result announced = 1097692*0.09/774884 = 0.1275, estimate highest/lowest PE = 15.84/14.51 (DPS 0.06)
- Estimate next 4Q eps after 2011 Q3 result announced = 0.028*4*1.1 = 0.1232, estimate highest/lowest PE = 17.25/14.81 (DPS 0.055)
- Estimate next 4Q eps after 2011 Q2 result announced = 0.0338*4*1.05 = 0.142, estimate highest/lowest PE = 15.11/12.85 (DPS 0.055)
- Estimate next 4Q eps after 2011 Q1 result announced = (0.0563+0.032)*2 = 0.1766, estimate highest/lowest PE = 13.59/10.76 (DPS 0.05)

WASEONG latest news (English)

WASEONG latest news (Chinese)



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	gros_m	oper_m	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
2012-05-31	2012	1	N/A	N/A	-	1.62%	1.62%	481560	481560	23657	23657	17784	17784	0.0230	0.0230	2298075	1208475	96872	1089600	108175	67357	38558	577183	40818	2260	579443	772143	772143	1474793	2012-03-31	13.50%	6.60%	4.91%	-	0.818	-	1.29	1.14	1.68	0.75	1.782	1.4648	0.6956	1.2173	0.5259	34.7%	63	120	83
2012-02-22	2011	4	2.08	1.91	0.03	1.88%	10.61%	514212	1889111	33504	173268	19520	110374	0.0252	0.1448	2295623	1197931	93658	1097692	134580	2408	74614	372787	136988	211602	584389	774884	762340	1549768	2011-12-31	18.60%	8.52%	6.52%	38.63%	0.8229	13.8138	1.32	1.17	1.71	0.75	1.8993	1.5479	0.7227	1.1931	0.5218	38.5%	69	124	74
2011-11-15	2011	3	2.18	1.88	-	2.05%	8.73%	478843	1374899	36673	139764	21293	90854	0.0280	0.1198	2203801	1124522	92842	1079279	126297	7389	9362	372488	133686	143048	515536	759869	758142	1557731	2011-09-30	21.34%	8.69%	7.66%	19.45%	0.8041	-	1.3	1.15	1.78	0.68	1.9926	1.6289	0.7258	1.14	0.5103	39.8%	67	128	78
2011-08-25	2011	2	2.2	1.88	0.03	2.52%	6.69%	405158	896056	34409	103091	26193	69561	0.0338	0.0901	2141594	1049511	113920	1092083	128582	1278	50721	364935	127304	178025	542960	774862	772322	1658204	2011-06-30	18.41%	9.94%	8.49%	14.58%	0.7658	-	1.27	1.12	1.91	0.7	2.1269	1.7056	0.8508	1.0729	0.4901	43.9%	74	116	73
2011-05-11	2011	1	2.45	1.95	-	4.17%	4.17%	490898	490898	68682	68682	43368	43368	0.0563	0.0563	2236976	1144352	122907	1092624	114182	5995	111192	357973	108187	219379	577352	769700	769700	1677946	2011-03-31	21.89%	15.10%	13.99%	24.66%	0.7173	-	1.26	1.12	1.95	0.75	2.0568	1.7604	0.8133	1.1801	0.5116	46.8%	59	139	82
2011-02-17	2010	4	2.29	1.97	0.025	2.39%	5.41%	397228	1523356	35260	86156	24768	55981	0.0320	0.0735	2009711	969473	115052	1040238	39586	37480	92765	454786	2106	90659	364127	774886	761707	1789986	2010-12-31	18.06%	10.71%	8.88%	21.38%	0.758	31.4311	1.21	1.07	2.16	0.47	2.3787	1.9031	0.7149	1.0479	0.4824	46.3%	71	129	72
2010-11-30	2010	3	2.45	1.93	-	1.21%	3.02%	346764	1126128	18864	50896	12488	31213	0.0164	0.0412	1915992	885903	129628	1030089	61869	31110	152496	457924	30759	121737	336187	761580	757282	1538391	2010-09-30	17.66%	7.54%	5.44%	42.66%	0.8253	-	1.19	1.03	1.96	0.44	2.1023	1.5857	0.6567	0.9838	0.4624	36.0%	78	106	68
2010-08-25	2010	2	2.28	1.99	0.02	0.16%	1.81%	369743	779364	6444	32032	1701	18725	0.0022	0.0244	2028422	966612	158436	1061810	45698	13000	140393	462485	32698	107695	354790	774885	768429	1782235	2010-06-30	13.95%	0.25%	1.74%	-	0.8584	-	1.18	1.01	2.28	0.49	2.1269	1.6018	0.6894	1.07	0.4765	35.8%	78	100	70
2010-05-31	2010	1	2.52	2.05	-	1.65%	1.65%	409621	409621	38476	38476	17024	17024	0.0225	0.0225	2149077	1096234	164533	1052843	39140	6355	33549	464721	32785	764	463957	756174	756174	1671144	2010-03-31	22.43%	11.32%	9.39%	21.62%	0.8949	-	1.17	1.01	2.19	0.62	1.9553	1.5243	0.7092	1.2341	0.5101	32.6%	70	97	69
2010-02-23	2009	4	2.83	2.14	0.03	3.65%	12.72%	455070	1950308	70149	245782	34840	121322	0.0450	0.1598	2206735	1172163	148956	1034572	358310	133389	60719	186254	224921	285640	471894	774872	759203	1797703	2009-12-31	29.08%	17.59%	15.41%	28.48%	0.8838	14.518	1.17	0.99	2.34	0.61	1.9547	1.5224	0.7024	1.3236	0.5312	32.9%	71	99	76
2009-11-19	2009	3	2.45	2.29	-	3.25%	9.07%	506779	1495238	65338	175633	31023	86482	0.0400	0.1145	2123909	1021060	230476	1102849	194807	58386	103022	184896	136421	33399	218295	774887	755621	1867477	2009-09-30	22.77%	14.24%	12.89%	8.08%	0.9765	-	1.15	0.97	2.48	0.28	1.5821	1.1646	0.2844	1.1704	0.4807	21.6%	72	115	77
2009-08-28	2009	2	2.48	2.09	0.025	3.12%	5.81%	551838	988459	55269	110295	29735	55459	0.0384	0.0724	2227955	1180695	204141	1047260	60772	54790	7122	189333	5982	13104	202437	774881	766246	1650496	2009-06-30	20.39%	11.78%	10.02%	14.29%	0.9962	-	1.1	0.92	2.32	0.27	1.4722	1.027	0.2392	1.4004	0.5299	18.8%	80	111	79
2009-05-29	2009	1	2.19	1.7	-	2.70%	2.70%	436621	436621	55026	55026	25724	25724	0.0340	0.0340	2243302	1214495	188424	1028807	70987	42831	10667	192060	28156	38823	230883	756505	756505	1369274	2009-03-31	21.51%	15.06%	12.60%	11.61%	1.0116	-	1.11	0.93	1.95	0.31	1.4855	1.0496	0.2587	1.4452	0.5414	19.1%	76	110	83
2009-02-26	2008	4	1.94	1.09	0.03	6.18%	19.22%	578738	2343194	40895	152913	37188	115596	0.0504	0.1568	2129594	1175840	162588	953754	115303	208909	393963	116914	324212	69751	186665	737152	737152	825610	2008-12-31	20.19%	8.13%	7.07%	5.45%	1.1003	7.1422	1.07	0.9	1.24	0.25	1.4817	1.1189	0.2167	1.4862	0.5521	17.7%	58	118	73
2008-11-28	2008	3	1.19	0.99	-	4.50%	13.04%	652224	1764456	49727	112018	27046	78408	0.0372	0.1080	2111923	1179171	161746	932752	127630	162372	431968	108522	290002	141966	250488	726318	726318	777160	2008-09-30	16.33%	6.73%	7.62%	31.57%	1.0765	-	1.06	0.89	1.2	0.35	1.436	1.0553	0.2801	1.5294	0.5583	17.2%	65	109	74
2008-08-25	2008	2	1.7	1.0	0.03	3.72%	8.54%	601705	1112232	29110	62291	22363	51362	0.0307	0.0706	1931556	1048924	156599	882632	86384	146071	297362	112973	232455	64907	177880	727676	727676	1142451	2008-06-30	13.95%	5.63%	4.84%	7.24%	1.1161	-	1.0	0.82	1.91	0.25	1.3617	1.045	0.2211	1.4447	0.543	13.8%	52	112	78
2008-05-26	2008	1	2.37	1.55	-	4.82%	4.82%	510527	510527	33181	33181	28999	28999	0.0425	0.0425	1729636	896461	134796	833175	57071	23549	186518	109885	80620	105898	215783	682329	682329	1617119	2008-03-31	16.11%	7.75%	6.50%	-	1.1615	-	1.02	0.85	2.79	0.32	1.6015	1.2707	0.3312	1.2836	0.5183	19.9%	48	112	80
2008-02-29	2007	4	2.53	2.0	0.04	5.21%	17.42%	508996	1950112	17870	115121	25715	86039	0.0406	0.1358	1560146	958634	131511	601512	88323	80455	30283	73797	7868	38151	111948	633610	633610	1393942	2007-12-31	14.91%	6.54%	3.51%	-	1.2355	16.2013	0.74	0.55	4.0	0.19	1.3883	1.1179	0.1619	2.0396	0.6145	14.6%	44	125	80
2007-11-29	2007	3	4.08	2.06	-	4.93%	12.19%	534502	1418611	34192	96195	24344	60204	0.0467	0.1156	1582946	965795	163125	617151	38001	47545	23500	75675	9544	13956	89631	520944	520944	1906655	2007-09-30	16.85%	7.40%	6.40%	17.22%	1.1884	-	0.87	0.64	5.72	0.2	1.3918	1.0748	0.1484	2.1272	0.6101	15.0%	54	127	83
2007-08-30	2007	2	3.78	3.54	0.02	3.61%	7.26%	454953	884109	26351	62003	17824	35860	0.0339	0.0681	1556770	961818	160278	594952	45971	18669	43519	76580	27302	70821	147401	526322	526322	1915812	2007-06-30	15.89%	6.78%	5.79%	25.13%	0.865	-	0.83	0.59	6.17	0.3	1.391	1.0373	0.2239	2.2127	0.6178	20.5%	83	152	98
2007-05-25	2007	1	N/A	N/A	-	3.72%	3.72%	429156	429156	35981	35981	18365	18365	0.0352	0.0352	1477731	925099	155704	552632	21209	650	17886	79765	20559	38445	118210	522430	522430	1410561	2007-03-31	18.95%	9.63%	8.38%	27.81%	0.6034	-	0.76	0.52	5.19	0.26	1.3948	1.0324	0.2083	2.3306	0.626	28.7%	120	213	136
2007-02-26	2006	4	N/A	N/A	0.035	N/A	N/A	462532	1624495	34125	72740	24711	38798	0.0477	0.0749	1386631	892745	122679	493886	36218	82924	22639	101416	46706	24067	77349	517680	517680	1102658	2006-12-31	19.95%	8.97%	7.38%	9.78%	0.3336	28.4205	0.72	0.47	4.53	0.17	1.3397	0.9648	0.1467	2.405	0.6438	44.4%	224	375	292

Financial Quarter Balance Sheet

year	qrt	Available-for-sale financial assets (A-0)	Deferred tax assets (A-0)	Derivative financial assets (A-0)	Goodwill on consolidation (A-0)	Intangible assets (A-0)	Investment in associated companies (A-0)	Investment in jointly controlled entity (A-0)	Investment properties (A-0)	Prepaid lease payments (A-0)	Property, plant and equipment (A-0)	Amount due from associated companies (A-1)	Amount due from customers (A-1)	Amount due from jointly controlled entity (A-1)	Cash and cash equivalents (A-1)	Current asset classified as held for sales (A-1)	Current tax assets (A-1)	Derivative financial assets (A-1)	Fixed and time deposits (A-1)	Inventories (A-1)	Trade receivables (A-1)	Deferred tax liabilities (L-0)	Derivative financial liabilities (L-0)	Hire purchase liabilities (L-0)	ICULS (L-0)	Loans & borrowings (L-0)	Other liabilities (L-0)	Term loans (L-0)	Amount due to associated companies (L-1)	Amount due to customers (L-1)	Amounts due to Jointly Controlled Entities (L-1)	Current tax liabilities (L-1)	Derivative financial liabilities (L-1)	Dividend payable (L-1)	Hire purchase liabilities (L-1)	ICULS (L-1)	Liabilities directly associated with assets classified as held for sale (L-1)	Loans & borrowings (L-1)	Provision for warranty costs (L-1)	Term loans (L-1)	Trade and other payables (L-1)	Minority interest (M-1)
2012	1	1174	10161	717	109847	504	13868	79653	4895	99201	493591	1507	97206	4934	233843	8298	13575	633	345600	264255	514613	6779	-	25	-	-	8236	360400	-	45724	3179	4747	110	22717	8	2991	-	360595	12226	31321	349417	96872
2011	4	1173	8693	1580	112552	544	17941	22107	4930	78546	511628	3815	69702	463	184896	8576	14478	-	399493	284159	570347	13712	-	27	-	-	2201	373318	-	35831	1331	12961	3808	-	8	3630	-	398169	12231	38262	302442	93658
2011	3	1137	7131	1646	112811	469	18770	28371	5964	78837	533240	4231	79490	470	129276	8183	14082	-	386260	258367	535066	17255	-	27	3630	-	2908	390359	-	19538	5391	16896	5800	22605	-	-	-	297377	14034	38263	290439	92842
2011	2	1151	4559	882	109251	503	18411	25986	6016	79130	538293	4235	71182	1772	203945	7820	13468	2387	339013	268858	444732	17471	-	27	6457	-	2262	385086	187	39920	4292	14565	79	-	8	-	-	243318	17767	57996	260076	113920
2011	1	1167	4948	1948	108888	516	18143	26069	6070	79413	529530	4217	54023	8931	386871	46789	12551	2662	190535	210476	543229	16637	-	28	6464	-	2428	408824	-	49012	1974	17189	209	1343	14	-	13342	244087	18373	70231	294197	122907
2010	4	1137	9581	10	110469	549	17091	27625	6172	79719	541463	4079	46000	7044	189891	54753	12217	2187	175531	243115	481078	18831	-	31	8678	-	2415	428365	68	32992	279	9183	414	1343	24	-	10331	116042	18604	75635	246238	115052
2010	3	1135	8280	5	117195	3170	21154	31735	2335	79454	566628	4554	83184	6988	185614	-	18485	199	153256	266581	366040	21277	-	39	8677	-	1801	338061	14	22345	-	8720	651	14478	30	-	-	123659	20333	93333	232485	129628
2010	2	1153	7591	37	121552	3481	21423	34579	2375	79740	581474	3611	84004	11675	214390	-	27776	145	166484	290115	376817	24658	949	41	11182	-	2744	374585	-	32387	-	10818	-	-	47	-	-	102875	21954	124019	260353	158436
2010	1	1150	7744	129	122062	3855	20930	37156	2414	80026	590939	3667	84727	9621	271487	-	23802	-	193765	282722	412881	24638	1341	64	11182	-	2800	400223	15	33404	-	20377	-	36982	49	-	-	109939	21579	153819	279822	164533
2009	4	1096	7458	-	126284	4187	22403	36366	2823	80847	612036	3606	160164	6183	222397	-	24466	-	249497	290414	356508	26405	-	53	35259	-	2740	435873	-	36014	-	18778	-	3419	56	-	-	92997	22585	187203	310781	148956
2009	3	1192	7052	-	133205	4085	19153	38894	3858	80980	618989	2333	186436	8011	152700	-	23768	-	65942	321064	456247	19904	-	-	35259	-	2625	194369	-	54526	-	15975	-	-	-	-	-	351791	-	-	346611	230476
2009	2	1176	7043	-	134698	4343	19230	41060	3961	80874	634710	2319	214829	5536	102005	-	21072	-	109345	393418	452336	19093	-	-	39655	-	2531	235804	-	45253	-	17606	-	-	-	-	-	434668	-	-	386085	204141
2009	1	14133	8148	-	129032	4392	20298	43113	4383	81076	612221	2325	203525	6511	163983	-	20295	-	67067	389176	473624	18871	-	-	39655	-	-	262973	-	53716	-	17230	-	-	-	-	-	399335	-	-	422715	188424
2008	4	1176	6580	-	125625	4547	20577	39991	4528	80816	569241	2268	181464	6623	108384	-	18717	-	78281	312570	568206	18275	-	-	47155	-	557	248352	-	43214	3590	19327	-	-	-	-	-	382505	23470	-	389395	162588
2008	3	1221	6651	-	121787	4962	20437	39166	4909	59732	564854	2040	104050	9523	154007	-	15116	-	97261	341513	564694	12648	-	-	47158	-	-	222262	20	40060	-	23081	-	-	-	-	-	445219	-	-	388723	161746
2008	2	1292	17465	-	120740	5386	20252	36359	4925	59958	543490	2367	89406	9285	109602	-	15168	-	72548	260884	562429	11980	-	-	54018	-	-	159168	20	56028	-	22673	-	-	-	-	-	356094	-	-	388943	156599
2008	1	1503	16699	-	115384	5690	21502	33993	4973	47662	415718	2611	104996	7581	188994	-	10491	-	31582	220281	499976	11090	-	-	54041	165372	-	-	20	55006	-	26350	-	-	-	-	-	213118	-	-	371464	134796
2007	4	1503	7463	-	114002	6004	21592	34918	5150	47695	315792	39172	60073	5762	89579	24401	10168	-	27730	195930	553212	8696	-	-	54041	-	3099	168166	20	100656	444	22313	-	-	-	-	-	248314	-	-	352885	131511
2007	3	2098	5804	-	117594	3957	30584	260	3397	62464	356398	6060	63248	10	91943	2360	10777	-	14686	227858	583448	11065	-	-	54042	-	249	181687	635	110729	-	30138	-	-	-	-	-	225113	-	-	352137	163125
2007	2	1736	5484	-	118870	4052	29242	282	2115	62730	349604	6188	46493	561	136216	2360	10139	-	21971	249822	508905	10630	-	-	56631	-	4221	183888	311	147149	258	29163	-	-	-	-	-	234338	-	-	295229	160278
2007	1	2547	5890	-	119499	3921	27406	305	2125	67169	343479	6699	45377	840	108743	2360	11835	-	26488	235231	467817	10826	-	-	60119	-	16327	188722	545	128561	258	23568	-	-	-	-	-	230133	-	-	266040	155704
2006	4	2767	5895	-	121857	4067	25614	35269	3390	39205	337989	2927	32421	1608	69622	10828	9198	-	19122	226837	438015	11925	-	-	64061	-	19911	191797	445	79227	13955	19862	-	-	-	-	-	209575	-	-	281987	122679

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	Gain/loss on disposal of subsidiaries	Investment gain/loss	Elimination of interest expense on ICULS	Impairment loss in respect of goodwill	Other expenses
2012	1	481560	575	416571	5424	10324	40745	6448	2684	6251	-	-	-	-	3448
2011	4	514212	12942	418567	4809	17819	63614	1042	5485	6052	-	-	-	-	-
2011	3	478843	7133	376665	6082	5189	46192	8247	1133	9020	-	-	-	-	10533
2011	2	405158	5017	330582	5581	10350	33623	3199	267	9687	-	-	-	-	1359
2011	1	490898	16937	383463	5480	9020	34698	8377	13	7938	-	-	-	-	330
2010	4	397228	7538	325480	5473	25110	48533	2954	1798	7810	-	-	-	-	2016
2010	3	346764	8048	285534	5918	13019	41116	1672	1363	7015	-	-	-	-	27
2010	2	369743	2701	318163	6065	2400	42285	5444	1287	10844	-	-	-	-	57
2010	1	409621	8319	317748	6635	6027	38260	13133	1256	13337	-	-	-	-	64
2009	4	455070	19980	322752	10698	38559	85233	15329	799	5596	-	-	-	-	-
2009	3	506779	5277	391409	7633	6658	39816	29038	796	10037	-	-	-	-	-
2009	2	551838	7897	439291	8921	18370	55854	17637	835	10038	-	-	-	-	-
2009	1	436621	6389	342688	11404	11828	30966	22913	678	9043	-	-	-	-	-
2008	4	578738	2229	461884	9414	48654	110347	1478	3255	9678	-	-	-	-	1571
2008	3	652224	15700	545717	8164	10580	63342	6981	648	10182	13323	-	-	-	357
2008	2	601705	2107	517777	6032	6092	44168	4640	1456	11856	210	-	-	-	100
2008	1	510527	172	428289	6735	21473	42717	4354	364	8013	-	-	-	-	13429
2007	4	508996	4281	433088	6462	28630	56191	3564	8944	8440	-	-	-	-	6631
2007	3	534502	5887	444434	6293	6563	45402	3961	907	11418	-	29	-	-	262
2007	2	454953	6621	382668	6373	5317	38406	1906	1866	8168	-	0	-	-	170
2007	1	429156	10005	347816	6733	4437	36674	7611	1067	7279	-	5	329	-	501
2006	4	462532	3339	370278	6925	4618	45042	6075	788	7921	-	0	347	0	2418

Financial Quarter Segments Revenue

year	qrt	Others	Elimination/Adjustment	Engineering	Pipeline Services	Renewable Energy	Trading & E&P
2011	2	203	1703	71262	114621	51674	169101
2011	1	182	3082	92889	191731	47089	162089
2010	4	222	2678	62162	134571	58425	139170
2010	3	221	5573	47894	117226	51634	135362
2010	2	227	50960	51037	151836	40622	176981
2010	1	252	1935	51792	178462	33888	147162
2009	4	3566	58328	58374	261746	69822	127826
2009	3	3288	26086	86164	258258	190300	126563
2009	2	784	25476	88735	251661	58351	177783
2009	1	5949	27358	86645	187959	48790	134636

Financial Quarter Segments Profit

year	qrt	Others	Engineering	Pipeline Services	Renewable Energy	Trading & E&P
2011	2	3741	1258	23498	7557	5837
2011	1	4194	2332	59204	5146	6194
2010	4	82	19166	43399	9625	1320
2010	3	3679	192	8335	11133	2883
2010	2	6330	120	14865	7352	7519
2010	1	7440	383	37659	3451	5189
2009	4	12966	8110	75630	32053	3664
2009	3	5167	7041	62527	6787	1684
2009	2	5192	1297	33310	8802	6668
2009	1	3530	8973	36667	7360	5556

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

CURRENT

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