Company Description A & M Realty Berhad is engaged in investment holding and the provision of management services. The Company’s segments include property development, construction and services rendered, which includes construction and development of residential, commercial and industrial properties; manufacturing and trading, which includes manufacturing and trading of automotive parts and related products, and hotel and leisure related services, which includes provision of hospitality services, food and beverages. The Company’s subsidiaries include A & M Construction Sdn. Bhd., which is engaged in building construction, housing development, property management and investment holding; A & M Development Sdn. Bhd., which is engaged in housing development, property management and investment holding, A & M Lifestyle Connections Sdn. Bhd., which is engaged in investment holding and provision of management services, and A & M Vision Builders Sdn. Bhd., which is engaged in building construction.
Company Info
Listing Date 1995-01-20 Market Capital (Capital Size) 178,881,262 (Small) Par Value RM 0.50 Board Main Sector Properties Major Industry Property Development Sub Industry Hotel & Leisure related Services Website http://www.amrealty.com.my
My Analysis
Forecast P/E now 0.49/0.0564 = 8.69 (Moderate) Target Price 0.0564*9.6 = 0.54 (PE 9.6, EPS 0.0564) Decision BUY if stock price sustain and uptrend above 0.47 or wait rebound at more lower price Comment Revenue decreased 1.3% and was second consecutive quarter decreasing but still higher than preceding year corresponding quarter 13.7%, eps increased 6.5% but lower than preceding year corresponding quarter 43.8%, cash generated from operating is more than enough to cover financing expenses but still increased borrowings and spent 2.3% of Group cash to cover investing expenses, operating margin is quite good got average 21% per quarter, quick liquidity ratio indicate sufficient to meet current obligation, gearing ratio already quite low especially borrowing hence is low risk but this also mean the Group no better strategic to generate more income through higher leverage, inventory turnover period took quite long time which is not liquid, receivables collection period is shorter than payables period which conserve cash
First Support Price 0.47 Second Support Price 0.45 Risk Rating MODERATE
Accounting Ratio
Return on Equity 4.77% Dividend Yield - Gross Profit Margin - Operating Profit Margin 21.23% Net Profit Margin 22.84% Tax Rate 28.02% Asset Turnover 0.23 Net Asset Value Per Share 1.37 Net Tangible Asset per share 1.31 Price/Net Tangible Asset Per Share 0.4 Cash Per Share 0.21 Liquidity Current Ratio 5.2337 Liquidity Quick Ratio 1.6334 Liquidity Cash Ratio 0.9683 Gearing Debt to Equity Ratio 0.2472 Gearing Debt to Asset Ratio 0.1935 Working capital per thousand Ringgit sale 224.1% Days to sell the inventory 883 Days to collect the receivables 125 Days to pay the payables 211
Technical Analysis
SMA 10 0.48 (Same) SMA 20 0.473 (Uptrend 2 days) SMA 50 0.483 (Same) SMA 100 0.476 (Uptrend) SMA 200 0.466 (Uptrend) MACD (26d/12d) 0.001561 ( 0.000836 ) Signal (9) -0.001073 ( 0.000659 ) MACD Histogram 0.002634 (Bullish trend 12 days)Bolinger Upper Band 0.504 Bolinger Lower Band 0.442
My notes based on 2012 quarter 2 report (number in '000): A&M 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 2012-08-29 2012 2 N/A N/A - 0.96% 1.86% 32090 64597 7328 13849 4833 9370 0.0132 0.0257 637756 123378 15214 514378 1727 4344 853 76858 2617 1764 75094 365064 365064 189833 2012-06-30 - 21.23% 22.84% 28.02% 0.23 - 1.37 1.31 0.4 0.21 5.2337 1.6334 0.9683 0.2472 0.1935 224.1% 883 125 211 2012-05-30 2012 1 0.53 0.415 - 0.90% 0.90% 32507 32507 6521 6521 4537 4537 0.0124 0.0124 628180 119077 14772 509103 335 2673 804 76858 3008 2204 74654 365064 365064 160628 2012-03-31 - 18.52% 20.06% 22.96% 0.2273 - 1.35 1.3 0.34 0.2 5.4753 1.6656 1.0289 0.2409 0.1896 227.7% 923 114 214 2012-02-29 2011 4 0.52 0.41 - 1.87% 5.39% 42617 139740 12293 33752 8928 25741 0.0245 0.0705 625834 121755 14285 504079 22622 2044 112 52056 24666 24778 76834 365064 365064 171580 2011-12-31 - 27.44% 28.85% 24.85% 0.2233 6.6656 1.34 1.29 0.36 0.21 5.32 1.5872 1.0307 0.2486 0.1945 231.1% 946 105 231 2011-11-23 2011 3 0.51 0.415 - 1.04% 3.52% 39446 97123 7092 21459 4949 16813 0.0136 0.0461 629913 134570 13944 495343 24273 4942 272 52056 29215 29487 81543 365064 365064 153326 2011-09-30 - 16.83% 17.98% 24.53% 0.1935 - 1.32 1.27 0.33 0.22 4.6832 1.5536 0.939 0.2795 0.2136 262.5% 1013 155 276 2011-08-23 2011 2 0.48 0.385 - 1.80% 2.49% 28226 57677 9314 14367 8578 11864 0.0235 0.0325 626364 136305 13609 490059 14779 6115 581 52056 20894 21475 73531 365064 365064 177056 2011-06-30 - 31.83% 33.00% 2.75% 0.1783 - 1.31 1.25 0.39 0.2 4.61 1.468 0.8391 0.2861 0.2176 283.2% 1119 175 316 2011-05-27 2011 1 0.5 0.41 - 0.69% 0.69% 29451 29451 5053 5053 3286 3286 0.0090 0.0090 607746 126745 13129 481001 3271 448 744 52056 2823 3567 55623 365064 365064 175230 2011-03-31 - 16.25% 17.16% 23.97% 0.199 - 1.28 1.23 0.39 0.15 5.0363 1.3882 0.7269 0.2709 0.2085 255.4% 971 148 246 2011-02-25 2010 4 0.58 0.44 - 0.52% 2.23% 24748 125369 3872 15590 2408 10398 0.0066 0.0285 605132 127973 12573 477159 23282 11609 327 40056 11673 12000 52056 365064 365064 178881 2010-12-31 - 14.31% 15.65% 28.23% 0.207 17.2034 1.27 1.22 0.4 0.14 4.9732 1.3145 0.6764 0.2755 0.2115 244.1% 929 139 239 2010-11-25 2010 3 0.575 0.485 - 0.73% 1.74% 29278 100535 4904 11891 3417 8116 0.0094 0.0222 623002 147837 12861 475165 27419 6655 1015 40056 20764 21779 61835 365064 365064 204435 2010-09-30 - 15.70% 16.75% 24.25% 0.217 - 1.27 1.21 0.46 0.17 4.1528 1.2327 0.6346 0.3198 0.2373 227.3% 867 153 273 2010-08-26 2010 2 0.63 0.455 - 0.53% 1.01% 37467 71257 3277 6987 2464 4699 0.0068 0.0129 641858 171486 12563 470372 20574 5575 240 40056 14999 14759 54815 362908 362908 177824 2010-06-30 - 8.08% 8.75% 17.64% 0.2341 - 1.26 1.21 0.4 0.15 3.5167 1.0913 0.4571 0.3746 0.2672 200.9% 816 181 314 2010-05-25 2010 1 0.605 0.49 - 0.48% 0.48% 33790 33790 3710 3710 2235 2235 0.0062 0.0062 629264 161495 12486 467769 14039 979 29 40056 13060 13089 53145 362784 362784 214042 2010-03-31 - 10.46% 10.98% 32.96% 0.2465 - 1.25 1.2 0.49 0.15 3.8255 1.1137 0.4867 0.3547 0.2566 199.0% 802 158 277 2010-02-23 2009 4 0.765 0.58 - 0.64% 3.03% 34629 142265 4458 18338 2879 13649 0.0079 0.0376 623881 158624 12234 465257 12639 4278 334 32029 8361 8027 40056 362734 362734 235777 2009-12-31 - 12.31% 12.87% 28.87% 0.228 17.2743 1.25 1.19 0.55 0.11 3.9224 1.0256 0.3789 0.3501 0.2543 217.2% 897 172 295 2009-11-30 2009 3 0.845 0.525 - 1.67% 2.39% 44360 107636 9491 13880 7530 10770 0.0208 0.0297 684336 222400 12190 461936 8153 11616 284 32029 19769 20053 52082 362734 362734 217640 2009-09-30 - 20.97% 21.40% 17.61% 0.2042 - 1.24 1.18 0.51 0.14 2.4519 0.6481 0.305 0.4945 0.325 177.4% 1014 148 552 2009-08-27 2009 2 0.8 0.47 - 0.60% 0.72% 42310 63276 3433 4388 2712 3240 0.0075 0.0089 697499 243330 11953 454169 6306 11667 215 32029 17973 17758 49787 362734 362734 221267 2009-06-30 - 7.71% 8.11% 14.68% 0.1812 - 1.22 1.15 0.53 0.14 2.2403 0.6287 0.2602 0.5503 0.3489 187.8% 1091 195 668 2009-05-27 2009 1 0.895 0.39 - 0.12% 0.12% 20966 20966 955 955 528 528 0.0015 0.0015 593513 142273 11736 451240 3069 1097 87 32029 1972 2059 34088 362734 362734 141466 2009-03-31 - 3.88% 4.55% 28.48% 0.2083 - 1.21 1.16 0.34 0.09 3.1392 0.8894 0.3266 0.3237 0.2397 180.6% 838 168 367 2009-02-26 2008 4 0.48 0.26 - 3.37% 4.24% 32116 120891 15633 21063 14864 18710 0.0410 0.0516 598438 147881 11581 450557 8599 9478 4855 18807 18077 13222 32029 362734 362734 108820 2008-12-31 - 48.30% 48.68% 4.25% 0.2038 5.8162 1.21 1.15 0.26 0.09 3.0085 0.8622 0.2913 0.3369 0.2471 181.1% 856 185 394 2008-11-26 2008 3 0.35 0.29 - 0.57% 0.89% 31013 89830 3730 6289 2514 3919 0.0069 0.0108 599789 157928 17676 441861 12914 N/A 3756 18785 12914 9158 27943 362734 362734 110633 2008-09-30 - 11.58% 12.03% 21.55% 0.1897 - 1.17 1.11 0.27 0.08 2.5374 0.7624 0.2373 0.3723 0.2633 160.6% 807 196 443 2008-08-26 2008 2 0.45 0.25 - 0.23% 0.29% 39525 58817 1584 2557 1036 1282 0.0029 0.0035 606753 163796 17383 442957 8599 9478 4855 18807 18077 13222 32029 362734 362734 159602 2008-06-30 - 3.76% 4.01% 7.64% 0.1812 - 1.17 1.12 0.39 0.1 2.4825 0.7186 0.286 0.3849 0.27 167.7% 920 177 510 2008-05-29 2008 1 0.69 0.4 0.015 0.06% 0.06% 19291 19291 973 973 246 246 0.0007 0.0007 600531 158918 17075 441613 10759 N/A 120 18785 10759 10879 29664 362734 362734 210385 2008-03-31 - 3.91% 5.04% 26.93% 0.1529 - 1.17 1.11 0.52 0.08 2.5783 0.7113 0.2506 0.3743 0.2646 204.6% 1254 216 652 2008-02-28 2007 4 0.75 0.415 - 2.57% 4.54% 23966 124808 12634 27664 10913 19288 0.0301 0.0532 587746 146844 16610 440902 33566 26168 4390 15777 7398 3008 18785 362734 362734 224895 2007-12-31 - 52.32% 52.72% 9.56% 0.171 11.6598 1.17 1.11 0.56 0.05 2.8804 0.6696 0.1762 0.3461 0.2498 199.7% 1216 189 530 2007-11-23 2007 3 1.05 0.62 - 1.21% 2.82% 27143 76555 8241 17686 5127 11985 0.0141 0.0330 583384 149115 17329 434269 12672 13425 892 15776 753 139 15915 362734 362734 348224 2007-09-30 - 29.83% 30.36% 32.08% 0.1723 - 1.15 1.09 0.88 0.05 2.7768 0.8478 0.1583 0.3576 0.2556 189.3% 1065 255 514 2007-08-29 2007 2 1.03 0.87 - 1.05% 1.61% 21411 49412 5927 9444 4469 6858 0.0123 0.0189 560206 127569 16858 432637 14002 14804 565 15776 802 237 15539 362734 362734 482436 2007-06-30 - 26.88% 27.68% 18.83% 0.131 - 1.15 1.09 1.22 0.05 3.2934 0.9355 0.1915 0.3068 0.2277 266.9% 1420 306 574 2007-05-30 2007 1 N/A N/A - 0.56% 0.56% 28001 28001 3519 3519 2390 2390 0.0066 0.0066 553141 125313 16517 427828 20531 39 565 15776 20492 21057 36833 362734 362734 301069 2007-03-31 - 11.83% 12.57% 20.09% 0.0939 - 1.13 1.08 0.77 0.1 3.3582 1.0524 0.426 0.3047 0.2265 397.1% 2039 376 858 2007-02-27 2006 4 N/A N/A - N/A N/A 23966 91980 12634 24398 10913 18680 0.1205 0.2063 543264 118248 16095 425016 234 1527 432 14447 1761 1329 15776 90559 90559 130404 2006-12-31 - 52.32% 52.72% 9.56% 0.0441 6.981 4.52 4.31 0.33 0.18 3.5254 0.7898 0.1975 0.2892 0.2177 846.9% 7023 713 2522
Financial Quarter Balance Sheet
year qrt Biological assets (A-0) Deferred tax assets (A-0) Fixed deposits (A-0) Goodwill on consolidation (A-0) Investment in associated companies (A-0) Investment properties (A-0) Land held for property development (A-0) Other investments (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) Cash and cash equivalents (A-1) Current tax assets (A-1) Fixed deposits with licensed banks (A-1) Inventories (A-1) Property development costs (A-1) Trade receivables (A-1) Deferred tax liabilities (L-0) Finance lease liabilities (L-0) Amount due to associated companies (L-1) Amount due to customers (L-1) Bank overdraf (L-1) Current tax liabilities (L-1) Finance lease liabilities (L-1) Loans & borrowings (L-1) Progress billings (L-1) Trade and other payables (L-1) Minority interest (M-1) 2012 2 3827 725 1702 19407 1484 26939 62003 527 - 114779 - 24655 9723 1585 65461 68144 211395 25400 45647 87 5605 6150 90 3503 10 1229 39684 21373 15214 2012 1 3827 725 1662 19407 1484 26178 61986 527 - 114623 - 20588 10720 1459 64026 67949 208815 24204 46344 87 5605 4696 92 2461 16 1134 35724 22918 14772 2011 4 3750 725 1652 19407 1484 24534 61981 527 - 114160 - 16037 23050 1512 53980 69117 209872 24046 46929 87 5605 3554 172 2655 23 313 38361 24056 14285 2011 3 3637 725 1638 19407 1482 21236 60661 587 - 113833 - 26968 14690 1721 66853 68157 203628 24690 47697 30 5605 9171 - 2540 103 1181 45734 22509 13944 2011 2 3516 725 1631 19407 1482 21207 60656 587 - 113176 - 22933 22643 1555 50888 68427 206908 30623 48645 30 5605 5937 - 2443 21 1497 47612 24515 13609 2011 1 3451 725 1706 19407 1482 21222 60634 587 - 113132 - 17007 22673 1514 32950 68706 210462 32088 50191 30 5605 2420 - 1620 30 1726 37631 27492 13129 2010 4 3357 725 1667 19407 1482 21222 60584 587 - 113371 - 15736 23173 1464 28883 69429 212136 31909 50984 30 5605 2363 - 1304 33 940 32891 33823 12573 2010 3 3356 - 1555 19719 1482 17552 60569 587 4811 108743 - 5347 31822 1588 30013 68609 215914 51335 50340 62 5831 3216 - 3378 16 1211 28778 55005 12861 2010 2 3341 - 1513 19719 1482 17605 60564 587 4824 110516 - 10756 27334 1352 27481 68592 222247 63945 51509 62 5828 4158 - 2919 25 983 43659 62343 12563 2010 1 3315 - 1506 19719 1482 17658 58023 587 4837 104374 79 12047 21371 1238 31774 68450 227695 55109 52228 62 5828 3424 - 2251 41 1158 43393 53110 12486 2009 4 3310 - 1503 20389 1482 17711 57929 587 4849 101471 79 6831 8261 1148 31795 69155 237082 60299 52850 62 5828 2281 - 1447 63 1104 42848 52141 12234 2009 3 - - 1494 20397 1484 17764 116650 587 4862 102361 25235 - 6846 2049 45236 63582 244472 31317 51491 125 2153 - - 1359 40 1717 57058 108457 12190 2009 2 - - 1478 23362 1484 17817 116649 587 4875 102507 17664 - 6926 3073 42861 63289 245133 49794 51829 125 2908 - - 1442 70 1068 52030 133858 11953 2009 1 - - 1497 20377 1484 17870 116649 587 4888 102520 13300 - 2515 1717 31573 59860 174953 43723 37776 125 2983 - - 153 100 1359 53157 46620 11736 2008 4 - - 1383 20509 1484 17923 115552 3087 4901 102771 8228 - 4254 1015 27775 61109 174903 53544 37790 125 2727 - - 317 138 1120 52670 52994 11581 2008 3 - - 1256 20502 1483 14108 132777 3087 16402 108512 20034 - 8408 1280 19798 60774 150251 41117 38894 149 2251 - 241 849 135 1950 54832 58627 17676 2008 2 - - 1256 20502 1483 14149 132912 3087 16416 108284 15587 - 24164 422 11398 60716 158596 37781 39283 178 2727 - - 953 135 1782 60329 58409 17383 2008 1 - - 1256 20502 1483 14232 132754 3087 16429 103966 15546 - 23527 380 6291 61315 160861 38902 39830 87 2729 - 133 1672 270 1608 62658 49931 17075 2007 4 - - 1256 20502 1483 14232 114667 3087 16444 108643 11397 - 9147 596 9660 61764 174204 40664 39847 264 2680 - - 2368 135 1446 47983 52121 16610 2007 3 - - 1240 20814 1482 14274 136638 3173 - 108409 22935 - 11643 3593 5306 55878 150688 47311 41833 196 4144 - 998 4676 106 1680 - 95482 17329 2007 2 - - 1240 20814 1482 14315 129417 3173 - 108536 23658 - 6994 1999 9360 55705 145642 37871 41959 219 3002 - 406 1861 102 1708 - 78312 16858 2007 1 - - 1240 18813 1482 14357 111470 3173 - 108730 17085 - 10567 1340 26709 54720 147058 36397 37557 245 3904 - 407 909 102 1308 - 80881 16517 2006 4 - - 1240 18813 1482 14398 111431 3173 - 109380 16892 - 3059 779 12816 55228 164640 29933 37557 319 5511 - 63 691 119 652 - 73336 16095
Financial Quarter Income Statement
year qrt Revenue Income tax expense Finance/interest costs Other income Administrative/Operating expenses Minority interest Finance/interest income 2012 2 32090 2053 7 - 25277 442 522 2012 1 32507 1497 6 - 26488 487 508 2011 4 42617 3055 27 0 30925 310 628 2011 3 39446 1740 0 0 32807 403 453 2011 2 28226 256 0 4490 23731 480 329 2011 1 29451 1211 1 - 24664 556 267 2010 4 24748 1093 1 - 21207 371 332 2010 3 29278 1189 1 - 24680 298 307 2010 2 37467 578 1 - 34438 235 249 2010 1 33790 1223 2 - 30254 252 176 2009 4 34629 1287 1 - 30367 292 197 2009 3 44360 1671 2 - 35057 290 190 2009 2 42310 504 2 - 39047 217 172 2009 1 20966 272 2 - 20153 155 144 2008 4 32116 665 0 - 16604 104 121 2008 3 31013 804 - - 27422 412 139 2008 2 39525 121 - - 38037 427 96 2008 1 19291 262 1 - 18537 465 220 2007 4 23966 1208 4 - 11427 513 99 2007 3 27143 2644 1 - 19047 470 146 2007 2 21411 1116 1 - 15656 342 173 2007 1 28001 707 1 - 24689 422 208 2006 4 23966 1208 4 - 11427 513 99
Financial Quarter Segments Revenue
year qrt Plantation Manufacturing & trading Property development, construction & management services Hotel & leisure related services 2012 2 1892 12885 14285 3028 2012 1 1872 11772 16398 2465 2011 4 1473 12052 25736 3356 2011 3 1407 11853 23882 2304 2011 2 1540 12298 11429 2956 2011 1 1580 11692 13827 2355 2010 4 784 10572 9770 3708 2010 3 497 11134 15592 2055 2010 2 452 10678 23584 2753 2010 1 510 9916 21631 1733 2009 4 639 9285 22442 3158 2009 3 688 11395 29982 2295 2009 2 749 10251 28335 2975 2009 1 493 9077 9231 2165 2008 4 468 7898 19661 3034 2008 3 730 10630 17676 1977 2008 2 1700 10140 24666 3020 2008 1 - 9784 7255 2252 2007 4 - 9962 35570 2721 2007 3 - 9377 15109 2657 2007 2 - 8986 9596 2829 2007 1 - 8207 18084 1710 2006 4 - 7780 13857 2360
Financial Quarter Segments Profit
year qrt Plantation Manufacturing & trading Property development, construction & management services Hotel & leisure related services 2012 2 710 866 3994 1243 2012 1 929 829 3705 556 2011 4 265 1108 4503 1326 2011 3 712 824 4907 196 2011 2 666 1054 6299 966 2011 1 1124 752 2342 569 2010 4 198 938 560 1705 2010 3 635 1960 7235 1333 2010 2 385 903 4110 1167 2010 1 232 598 2550 156 2009 4 770 2373 11186 3425 2009 3 844 1433 5426 2316 2009 2 656 705 851 1864 2009 1 319 205 315 604 2008 4 995 2498 13906 3154 2008 3 1122 1866 911 1935 2008 2 1122 1170 1944 1893 2008 1 - 568 321 507 2007 4 - 2330 22465 2636 2007 3 - 1386 13951 1825 2007 2 - 952 7236 877 2007 1 - 441 2737 134 2006 4 - 2076 19929 2115
Short form reference a_date = announcement date, yr = financial year end, qrt = quarterh_price = stock highest price during the quarter, l_price = stock lowest price during the quarterdiv = dividend recommend or declare in the quarter, roe = return on equityc_roe = cumulative of return on equity during the financial yearrev = revenue in the current quarter, c_rev = cumulative of revenue during the financial yearpbt = profit before tax in the current quarter, c_pbt = cumulative of profit before tax during the financial yeareps = earnings per share in the current quarter, c_eps = cumulative of earnings per share during the financial yearasset = total asset, liab = total liability, mino = minority interest, equi = total equitycfo = net cash flow from operating activities, cfi = net cash flow from investing activitiescff = net cash flow from financing activities, cash = cash and cash equivalents as at beginning of financial yearfinal = cash and cash equivalents as at current financial period endedshare = diluted/basic weighted average number of ordinary sharesc_share = cumulative of diluted/basic weighted average number of ordinary shares during the financial yearm_cap = market capital at announcement date of quarterly report, date = current financial period ended dateprof_m = profit margin, vat = income tax rate, pe = price earning per share ratio of recent four quarternavps = net asset value per share, ntaps = net tangible asset per share, cps = cash per sharel_cur = liquidity current ratio, l_qui = liquidity quick ratio, l_cash = liquidity cash ratiog_de = gearing debt to equity ratio, g_da = gearing debt to assets ratioavg_w = average working capital per thousand Ringgit saleinv_d = average days to sell the inventory, rec_d = Average days to collect the receivablesCURRENT ● CHANGES IN SHAREHOLDING ● ANNUAL REPORTS HISTORICAL ● CHANGES IN SHAREHOLDING ARCHIVES ● CHANGES IN SHAREHOLDING 
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