Sponsor by Innity

Sponsor by cwyeoh

Sponsor by Nuffnang

Saturday, October 27, 2012

KLCI Stock - TGUAN / 7034 - 2012 Quarter 2

THONG GUAN INDUSTRIES BERHAD


Company Description
THONG GUAN INDUSTRIES BERHAD is a Malaysia-based company. The Company is principally engaged in investment holding activities, and also in trading of plastic and paper products. It operates in three business segments: plastic products, which is engaged in the manufacturing and trading of plastic based products; food and beverages, which is engaged in the manufacturing and trading of consumer food products, such as tea, coffee, biscuits, snack food and curry powder, and operations of food and beverage outlet, and others, which is engaged in the manufacturing and trading of products, such as high-density monofilament ropes, polypropylene string, paper serviette, colonge paper towel, rubber band, drinking straw and machinery. The business segments are operated principally in Malaysia and China.

Company Info 
Listing Date1997-12-19
Market Capital (Capital Size)140,974,030 (Small)
Par ValueRM 1.00
BoardMain
SectorIndustrial Products
Major IndustryPlastic Products
Sub IndustryFood & Beverage
Websitehttp://www.thongguan.com/

My Analysis 
Forecast P/E now(1.34-0.06)/0.2817 = 4.54 (Moderate)
Target Price1.41+0.06 = 1.47 (PE 5.0, EPS 0.2817, DPS 0.06)
DecisionBUY if stock price sustain and uptrend above 1.31 or wait rebound at lower price
Comment
Revenue increased 4.8% and was fifth consecutive quarter increasing (higher than preceding year corresponding quarter 18.8%), eps increased 32.1% but lower than preceding year corresponding quarter 4.5%, cash generated from operating more than enough to cover financing expenses and still got borrowings, maintain around 11% gross margin, quick liquidity ratio indicate liquid assets can meet current obligation, slightly higher gearing ratio also good indication the Group utilize higher leverage to generate more income since is business uptrend now, all accounting of turnover period also short which assets is liquid to turn into cash to cover payables, higher inventory and higher revenue can indicate Group products demand is good, plastics products division (main profit contributor) strong growth
First Support Price1.31
Second Support Price1.28
Risk RatingMODERATE

Research House
Kenanga Target Price1.57 (2012-10-16)

Accounting Ratio 
Return on Equity11.38%
Dividend Yield4.48%
Gross Profit Margin11.68%
Operating Profit Margin5.06%
Net Profit Margin5.01%
Tax Rate3.12%
Asset Turnover1.5496
Net Asset Value Per Share2.43
Net Tangible Asset per share2.43
Price/Net Tangible Asset Per Share0.54
Cash Per Share0.62
Liquidity Current Ratio2.3783
Liquidity Quick Ratio1.4121
Liquidity Cash Ratio0.6125
Gearing Debt to Equity Ratio0.4656
Gearing Debt to Asset Ratio0.3158
Working capital per thousand Ringgit sale25.0%
Days to sell the inventory72
Days to collect the receivables52
Days to pay the payables47

Technical Analysis 
SMA 101.338 (Uptrend)
SMA 201.312 (Uptrend 6 days)
SMA 501.31 (Same)
SMA 1001.314 (Same)
SMA 2001.298 (Uptrend)
MACD (26d/12d)0.014102 ( 0.000625 )
Signal (9)0.008028 ( 0.001518 )
MACD Histogram0.006074 (Bullish trend 13 days)
Bolinger Upper Band1.382
Bolinger Lower Band1.242

My notes based on 2012 quarter 2 report (number in '000):-
- Higher revenue mainly due to the increase in export and contribution from two new subsidiary companies

- Lower pbt than FY11Q2 mainly due to lower margin of the stretch film and garbage bag divisions in Malaysia for Plastics Products division and lower demand of tea, coffee and instant beverages products as promotional activities was reduced for Food, Beverages and Other Consumable products segment

- Higher pbt than FY12Q1 mainly due to the higher sales of stretch film products

- Estimate next 4Q eps after 2012 Q2 result announced = 257749*0.115/105205 = 0.2817, estimate PE on current price 1.34 = 4.54(DPS 0.06)
- Estimate next 4Q eps after 2012 Q1 result announced = 246709*0.125/105205 = 0.2931, estimate highest/lowest PE = 4.67/4.16 (DPS 0.06)
- Estimate next 4Q eps after 2011 Q4 result announced = 243075*0.13/105205 = 0.3004, estimate highest/lowest PE = 4.69/4.16 (DPS 0.06)
- Estimate next 4Q eps after 2011 Q3 result announced = 0.2664, estimate highest/lowest PE = 5.07/3.9 (DPS 0.05)
- Estimate next 4Q eps after 2011 Q2 result announced = (0.0603+0.0729)*2 = 0.2664, estimate highest/lowest PE = 4.73/3.3 (DPS 0.05)
- Estimate next 4Q eps after 2011 Q1 result announced = 0.2129*1.05 = 0.2235, estimate highest/lowest PE = 5.86/3.85 (DPS 0.05)
- Estimate next 4Q eps after 2010 Q4 result announced = 0.1935*1.1 = 0.2129, estimate highest/lowest PE = 4.93/4.23 (DPS 0.05)
- Estimate next 4Q eps after 2010 Q3 result announced = 0.045*4 = 0.18(profit margin around 4%), estimate highest/lowest PE = 5.67/4.89 (DPS 0.04)
- Estimate next 4Q eps after 2010 Q2 result announced = 0.04*4 = 0.16, estimate highest/lowest PE = 6.38/5.19(DPS 0.04)
- Estimate next 4Q eps after 2010 Q1 result announced = 0.1351*1.1 = 0.1486 (10% increase), estimate highest/lowest PE = 7.81/4.98 (DPS 0.04)
- Estimate next 4Q eps after 2009 Q4 result announced = 0.1351 (revenue growth but cost also increasing), estimate highest/lowest PE = 5.92/5.26 (DPS 0.04)
- Estimate next 4Q eps after 2009 Q3 result announced = 0.134, estimate highest/lowest PE = 6.42/5.45 (DPS 0.02)
- Estimate next 4Q eps after 2009 Q2 result announced = 0.1138, estimate highest/lowest PE = 7.73/6.63 (DPS 0.02)

TGUAN latest news (English)

TGUAN latest news (Chinese)

Financial Quarter Summary
a_dateyearqrth_pricel_pricedivroec_roerevc_revpbtc_pbtprofc_profepsc_epsassetliabminoequicfocficffcashfcfnetfinalsharec_sharem_capdategros_moper_mprof_mvatasset_tpenavpsntapsp/ntapscpsl_curl_quil_cashg_deg_daavg_winv_drec_dpay_d
2012-08-2720122N/AN/A-3.01%5.30%1522712976277630143767325128710.06960.122337672111897222172577492272815644441367892116425605623941052051052051378182012-06-3011.68%5.06%5.01%3.12%1.5496-2.432.430.540.622.37831.41210.61250.46560.315825.0%725247
2012-05-24201211.431.28-2.28%2.28%14535614535667466746554655460.05270.05273591681124599812467098286137212093636669148123444891052051052051430782012-03-3110.38%4.67%4.64%17.88%1.5583-2.342.340.580.452.35731.40650.47820.45770.313123.9%685946
2012-02-29201141.471.310.063.55%12.55%1438065434156328281167704272040.07320.258636849712542298624307510765320356195515532127015075364781052051052051409742011-12-3111.87%4.42%4.40%-1.46265.18212.32.30.580.372.0661.02040.33530.51810.340422.8%925360
2011-11-24201131.41.09-2.53%9.00%1423253951546297217885479195000.05210.185434153410725472234280923215278550051494604611546399481052051052051220372011-09-309.49%4.47%4.42%13.59%1.5654-2.232.230.520.42.32731.33410.44160.45790.31423.9%735754
2011-08-25201121.310.93-3.54%6.47%1282022528298304154917674140210.07290.133332481993648-23117138046275531350833100794766460671052051052051041522011-06-3010.09%6.53%6.48%7.59%1.5889-2.22.20.450.472.60621.5160.60460.40510.288325.6%725141
2011-05-27201111.360.91-2.93%2.93%12462712462771877187634763470.06030.060330974387145-22259856473046267150629869311364392651052051052051104652011-03-3112.97%5.84%5.77%11.69%1.6109-2.122.120.50.42.63911.63160.55610.39150.281324.8%635745
2011-02-25201041.10.950.053.49%9.68%1394864885998439226597133197950.06780.1882323176106465-216711374152081417633953166011677750730105205105205967882010-12-3111.13%6.13%6.05%15.48%1.51144.88952.062.060.450.532.24211.39960.58940.49130.329424.0%675558
2010-11-30201031.060.92-1.67%6.47%1237873489483550142883407132280.03240.125729046880632-20983621732121662883382795669278431051052051052051020482010-09-3013.54%3.01%2.87%4.03%1.5782-1.991.990.490.432.74311.74560.67050.38430.277625.7%615543
2010-08-26201021.060.87-2.06%4.80%111067225161440810738422098210.04010.093430843296308-21212413471118813186342379841334537582105205105205957362010-06-3010.63%4.06%3.97%4.26%1.4204-2.022.020.450.392.40111.37320.49980.4540.312326.5%815749
2010-05-27201011.20.78-2.74%2.74%11409411409463306330560156010.05320.053229149283418-208074243127043328342975135846325834105205105205820592010-03-3112.05%5.64%5.55%11.52%1.4723-1.981.980.390.282.50111.49920.38930.40090.286226.2%736755
2010-02-25200940.840.750.041.62%7.41%1094584030603846175093101142090.02950.135128899884591-204407676205694346667610619262726034870105205105205846902009-12-3111.52%3.60%3.51%19.37%1.39475.96031.941.940.410.372.40491.4580.51420.41380.292726.4%746155
2009-11-20200930.880.75-2.67%5.79%1034642936025581136635117111080.04860.105626308962841-200248597404466409887631552741428621917105205105205820592009-09-3014.34%5.52%5.39%8.31%1.5395-1.91.90.410.252.79861.54680.48420.31380.238924.4%685036
2009-08-27200920.90.775-2.36%3.13%10213919013857058082453159910.04310.056927178472890-198894607863615384977674571711867426348105205105205820592009-06-3013.55%5.72%5.59%20.58%1.7454-1.891.890.410.282.42551.42350.44440.36650.268219.7%544738
2009-05-28200910.850.68-0.76%0.76%879998799923772377146014600.01390.013926815171923-19622836794143128358763135363700514636105205105205757472009-03-3110.81%3.18%2.70%38.58%1.923-1.871.870.390.152.35741.22550.24960.36650.268217.0%564329
2009-02-27200840.80.550.023.84%2.53%111419564558101263815706746460.06720.0442297774106069-191705270321605150176444863100137631105205105205715392008-12-312.29%8.48%9.09%-1.89615.39811.821.820.370.131.84350.92420.13380.55330.356214.8%634928
2008-11-28200830.80.65-1.48%6.29%1728024531653489139162721115670.02590.1099364160166033-1981271063450451881764411138595011694105205105205841642008-09-307.92%2.26%2.02%22.01%1.6252-1.881.880.430.171.58190.75180.11360.8380.455915.2%876060
2008-08-28200821.00.795-3.16%4.81%143431280363713510427580988460.05520.0841332758140078-1926801071203604717644868517912465105205105205894242008-06-3010.96%5.40%4.97%18.58%1.6725-1.831.830.460.151.67570.78230.12460.7270.42115.5%825557
2008-05-29200811.00.8-1.65%1.65%13693213693232923292303730370.02890.0289320276133406-18687052509368838176444314131524492105205105205910022008-03-318.74%3.03%2.40%7.75%1.6851-1.781.780.490.11.65540.81990.08810.71390.416514.6%745954
2008-02-29200741.10.810.030.50%6.87%138651518215139514993871120080.00830.1141336393152529-183864340149132177751053724882710717644105205105205862682007-12-317.71%2.67%1.01%38.71%1.54057.18421.751.750.470.241.5290.75480.18620.82960.453414.1%835563
2007-11-23200731.070.81-3.04%6.37%1375153795645390127625308111370.05050.1059338722155977161827452362477071193910537159173978145151052051052051052052007-09-309.50%4.44%3.92%1.52%1.4854-1.741.740.570.181.51860.70730.13790.85360.460514.4%925868
2007-08-30200721.130.985-1.42%3.33%12658424204937347372248758190.02360.05533371421565482618059418268500591991053713263406414601105205105205N/A2007-06-309.36%3.55%2.95%33.40%1.0844-1.721.72N/A0.191.50840.74960.14470.8670.464319.4%1188490
2007-05-3120071N/AN/A-1.91%1.91%11546511546536383638333233320.03170.0317310277132171261781062028033251332710537169553628141651052051052051504432007-03-319.22%3.90%3.15%8.41%0.7704-1.691.690.850.171.5910.80780.16020.74220.42628.1%153112109
2007-02-2820064N/AN/A0.03N/AN/A1235634695146378269052691215720.02560.205031203813726426174774174362404947071204566131906101391052051052051504432006-12-3112.73%6.09%5.16%57.79%0.3966.9741.661.660.860.141.55450.81290.12760.78550.439952.9%296238186

Financial Quarter Balance Sheet
yearqrtOther investments (A-0)Prepaid lease payments (A-0)Property, plant and equipment (A-0)Cash and cash equivalents (A-1)Current tax assets (A-1)Deposits with licensed banks (A-1)Inventories (A-1)Trade receivables (A-1)Deferred tax liabilities (L-0)Loans & borrowings (L-0)Current tax liabilities (L-1)Loans & borrowings (L-1)Trade and other payables (L-1)Minority interest (M-1)
2012217141147811208036083135028670102157831897709553621538492670202217
20121185711317113622287171037184209372590473787660072473489163438981
201141838115451174492122012951735112027577524753628482593591278867986
20113189111596103896243742173181569566083788762533171930242307015272
2011220529188993172956826302013689625723037962347411033032550784-
201112026916499362290992858128707604878316788037894952087554106-
201041966927910032349031301366007951173453805140344872536368530-
2010318907473959394151435843750673336898578995230-1981947684-
2010219857609995313405043057438853226819281605143-3078952216-
201012017666595758267154384240074931786228426203-1847556314-
2009420176826977043605939432950718356766485172071722233253363-
2009320676723100728265702728-6869055583773223525091621236153-
2009219976993103934291082630-6562461498707831648581452746111-
2009121007127106583161282425-7314460644704425639762292637721-
2008421007012106645132151734-9077076298704429131095519340432-
200832427703011091517508454-127933978938960296133616263888113-
200822874676310944715887--113914838738960360132294546678822-
200812874680111176110585--100360878959000428723054466073154-
200742873684711589525666415-106729779689280539822115428581355-
200732204687911715119300--1135157967394386615255556378403216
200721273691711894620140--10563784229973875833085550098113326
200711401695412095918217--8907973667973986922106482846335026
200641368696112063315030--8733680710973897541941609905484126

Financial Quarter Income Statement
yearqrtRevenueIncome tax expenseCost of salesFinance/interest costsOther incomeAdministrative/Operating expensesMinority interestFinance/interest incomeShare of profit/ (loss) of associatesSelling and distribution costsInvestment gain/lossOther expenses
20122152271238134491186341537267112-5354-309
201211453561206130263169326251016127-5009-1457
20114143806154012673816810905062164133-5357-804
201131423258561288142053020489038140-5173-106
2011212820263011526517158114508-104-4749-1120
2011112462784010845815813854661-63-4798-813
20104139486130612396217423214497-62-5437-640
2010312378714310703021436013385-32----
201021110671889925812816338928-22----
2010111409472910034412711088422----21-
200941094587459685110512025572---430014-
20093103464464886271476244849---365317-
200921021391174883011534224483---393011-
2009187999917784824269227639----3-
20084111419305911397571222564409---474035-
200831728027681591204602874021---547651-
200821434311326127705645443439---449128-
200811369322551249659026773995---450550-
2007413865154012795623973837572516-57510634-
200731375158212445381978136140-38412769-
2007212658412471147346931523611--128358957-
200711154653061048169597943642--33329659-
200641235633686107829109971248591-1434067100-

Financial Quarter Segments Revenue
yearqrtPlastics ProductsFood, Beverages and Other Consumable products
201221433228949
201211361639193
201141346649142
201131347707555
201121218719328
201111171647463
201041309238563
201031174736314
201021045126555
201011073236771
200941023897069
20093971716293
20092957146425
20091815336466
200841056255794
200831660126790
200821361457286
200811302556677
200741362027241
200731341403375
20072852626237
200711426467904
200641379725617

Financial Quarter Segments Profit
yearqrtPlastics ProductsFood, Beverages and Other Consumable products
201226910720
201215784962
20114628642
201135717645
2011270891215
201116964223
201048008431
201033567165
201024359155
201016193243
20094399255
20093562190
200925692155
200912671129
200849210240
200833229217
200827258492
200813729414
20074104071449
20073601587
200724147351
200714352153
2006449902529

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


CHANGES IN SHAREHOLDING
ANNUAL REPORTS


HISTORICAL


CHANGES IN SHAREHOLDING


ARCHIVES


CHANGES IN SHAREHOLDING

1 comment:

Nifty Tips said...

With the passage of time, investing in Indian stock and commodity markets is growing. Everyday new peoples are taking part in trading markets. Only experts can help us how to beat trading market and make more money.

MCX Tips
Commodity Tips

Post a Comment