KLCI Stock - GAMUDA / 5398 - 2013 Quarter 1

GAMUDA BERHAD


Company Description

Gamuda Berhad is a Malaysia-based investment holding company engaged in civil engineering construction. The Company operates in three business segments: engineering and construction, which is engaged in the construction of highways and bridges, water treatment plants, dams, and residential and commercial properties; property development and club operations, which is engaged in the development of residential and commercial properties, and club operations, and water and expressway concessions, which is engaged in the management of water supply and the management and tolling of highway operations. The Company operates in Malaysia, India, Taiwan, Republic of China, Mauritius, Qatar, Bahrain and Vietnam. During the fiscal year ended July 31, 2009, the Company acquired an additional 0.34% equity interest in Lingkaran Trans Kota Holdings Berhad, and increased its interest to 46%. On July 23, 2009, the Company acquired the Gamuda Land (HCMC) Sdn. Bhd.

Company Info 

Listing Date	1992-08-10
Market Capital (Capital Size)	7,587,755,870 (Very Large)
Par Value	RM 1.00
Board	Main
Sector	Construction
Major Industry	Engineering & Construction
Sub Industry	Property Development
Website	http://www.gamuda.com.my

My Analysis 

Forecast P/E now	(3.64-0.12)/0.2896 = 12.15 (Moderate)
Target Price	3.76+0.12 = 3.88 (PE 13.0, EPS 0.2896, DPS 0.12)
Decision	BUY if stock price sustain and uptrend above SMA5 or wait near around SMA50
Comment	Revenue decreased 20.5% but higher than preceding year corresponding quarter 20.1%, eps increased 3.5% and was second consecutive quarter increasing and also higher than preceding year corresponding quarter 7.8%, cash generated from operating and investing enough to cover financing expenses and got borrowings to cover investing expenses, current assets indicate Group keep expanding, operating margin consider improved at 18% because during earlier year average below 15%, liquidity ratio indicate can meet current obligation, gearing ratio indicate liabilities risk getting higher but still acceptable since got higher profit, all accounting turnover period quite long time hence will need more cash, most segment growth
First Support Price	3.55
Second Support Price	3.45
Risk Rating	MODERATE

Research House

Affin Target Price	4.21 (2012-03-29)
Jupiter Target Price	3.9 (2012-05-16)
Alliance Target Price	4.77 (2012-09-28)
AMMB Target Price	4.4 (2012-11-07)
CIMB Target Price	4.2 (2012-12-14)
ECM Target Price	3.97 (2012-12-14)
HLG Target Price	4.28 (2012-12-14)
HwangDBS Target Price	4.75 (2012-12-14)
Kenanga Target Price	4.29 (2012-12-14)
Maybank Target Price	4.1 (2012-12-14)
MIDF Target Price	4.71 (2012-12-14)
OSK Target Price	4.9 (2012-12-14)
Public Target Price	4.26 (2012-12-14)
RHB Target Price	4.49 (2012-12-14)
TA Target Price	4.22 (2012-12-14)

Accounting Ratio 

Return on Equity	14.08%
Dividend Yield	3.30%
Operating Profit Margin	18.68%
Net Profit Margin	23.62%
Tax Rate	18.91%
Asset Turnover	0.3656
Net Asset Value Per Share	1.94
Net Tangible Asset per share	1.89
Price/Net Tangible Asset Per Share	1.93
Cash Per Share	0.64
Liquidity Current Ratio	1.6221
Liquidity Quick Ratio	1.007
Liquidity Cash Ratio	0.4183
Gearing Debt to Equity Ratio	1.0528
Gearing Debt to Asset Ratio	0.5001
Working capital per thousand Ringgit sale	64.1%
Days to sell the inventory	285
Days to collect the receivables	218
Days to pay the payables	194

Technical Analysis 

SMA 10	3.593 (Downtrend)
SMA 20	3.616 (Downtrend 8 days)
SMA 50	3.581 (Uptrend)
SMA 100	3.521 (Uptrend)
SMA 200	3.508 (Same)
MACD (26d/12d)	0.003293 ( 0.002934 )
Signal (9)	0.004775 ( 0.00037 )
MACD Histogram	0.001482 (Bearish trend 17 days)
Bolinger Upper Band	3.726
Bolinger Lower Band	3.506

My notes based on 2013 quarter 1 report (number in '000):-
- Higher pbt from Engineering & Construction division than FY12Q1 resulted from higher work progress from the Klang Valley Mass Rapid Transit Project

- Higher pbt from Property Development & Club Operations division resulted from higher profits from the existing projects in Malaysia especially Horizon Hills

- Estimate next 4Q eps after 2013 Q1 result announced = 0.2896, estimate PE on current price 3.64 = 12.15(DPS 0.12)
- Estimate next 4Q eps after 2012 Q4 result announced = 4268871*0.145/2137025 = 0.2896, estimate highest/lowest PE = 12.64/11.26 (DPS 0.12)
- Estimate next 4Q eps after 2012 Q3 result announced = 4207397*0.145/2137025 = 0.2855, estimate highest/lowest PE = 12.22/11.21 (DPS 0.12)
- Estimate next 4Q eps after 2012 Q2 result announced = 4045187*0.145/2123909 = 0.2762, estimate highest/lowest PE = 12.85/11.51 (DPS 0.12)
- Estimate next 4Q eps after 2012 Q1 result announced = (0.0626+0.0585)*2 = 0.2422, estimate highest/lowest PE = 15.77/12.1 (DPS 0.12)
- Estimate next 4Q eps after 2011 Q4 result announced = (0.0542+0.0585)*2 = 0.2254, estimate highest/lowest PE = 14.86/11.85 (DPS 0.12)
- Estimate next 4Q eps after 2011 Q3 result announced = 0.177*1.1 = 0.1947, estimate highest/lowest PE = 19.77/12.89 (DPS 0.12)
- Estimate next 4Q eps after 2011 Q2 result announced = 0.0439*4*1.05 = 0.1844, estimate highest/lowest PE = 20.77/18.71 (DPS 0.12)
- Estimate next 4Q eps after 2011 Q1 result announced = 0.0789*2*1.05 = 0.1657, estimate highest/lowest PE = 24.98/20.64 (DPS 0.12)
- Estimate next 4Q eps after 2010 Q4 result announced = 0.0371*4*1.1 = 0.1632, estimate highest/lowest PE = 23.84/20.47 (DPS 0.12)
- Estimate next 4Q eps after 2010 Q3 result announced = 0.0361*4 = 0.1444, estimate highest/lowest PE = 26.73/20.78 (DPS 0.12)
- Estimate next 4Q eps after 2010 Q2 result announced = 0.0336*4 = 0.1344, estimate highest/lowest PE = 23.14/19.2 (DPS 0.12)
- Estimate next 4Q eps after 2010 Q1 result announced = 0.0311*4 = 0.1244, estimate highest/lowest PE = 22.83/19.77 (DPS 0.12)
- Estimate next 4Q eps after 2009 Q4 result announced = 0.0215*4 = 0.086, estimate highest/lowest PE = 38.02/30.81 (DPS 0.08)
- Estimate next 4Q eps after 2009 Q3 result announced = 0.0231*4 = 0.0924, estimate highest/lowest PE = 36.36/27.81 (DPS 0.08)
- Estimate next 4Q eps after 2009 Q2 result announced = 0.0244*4 = 0.0976, estimate highest/lowest PE = 28.59/19.26 (DPS 0.08)

GAMUDA latest news (English)

GAMUDA 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	c_asset	liab	c_liab	mino	equi	cfo	cfi	cff	cash	fcf	net	final	share	c_share	m_cap	date	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
2012-12-13	2013	1	N/A	N/A	0.06	3.41%	3.41%	771339	771339	182152	182152	145438	145438	0.0675	0.0675	8797931	5374329	4399633	3313171	219295	4398298	48406	95267	97921	1334712	46861	51060	1385772	2154216	2154637	7841346	2012-10-31	18.68%	23.62%	18.91%	0.3656	-	1.94	1.89	1.93	0.64	1.6221	1.007	0.4183	1.0528	0.5001	64.1%	285	218	194
2012-09-27	2012	4	3.78	3.38	-	3.61%	14.08%	969818	3087003	176738	728210	140500	547305	0.0652	0.2556	8494239	5222994	4225368	3100434	220839	4268871	67279	186798	20598	1062680	254077	274675	1337355	2155783	2141501	7329662	2012-07-31	15.67%	18.22%	20.39%	0.3634	13.3036	1.89	1.84	1.85	0.62	1.6846	0.9889	0.4313	1.0438	0.4974	68.8%	315	202	183
2012-06-28	2012	3	3.61	3.32	0.06	3.55%	10.47%	705863	2117185	196028	551472	138013	406805	0.0638	0.1904	7838222	4585244	3630825	2071176	217369	4207397	153712	67644	6911	1048185	86068	79157	1127342	2164034	2137025	7487557	2012-04-30	22.57%	27.77%	26.58%	0.3735	-	1.87	1.82	1.9	0.52	2.2138	1.2776	0.5443	0.91	0.4632	85.9%	294	187	123
2012-03-28	2012	2	3.67	3.3	-	3.51%	6.92%	769328	1411322	188283	355444	136473	268792	0.0639	0.1266	7726633	4282274	3681446	2130650	212348	4045187	137823	110214	62977	1051056	27609	90586	960470	2134663	2123909	7663440	2012-01-31	19.49%	24.47%	21.77%	0.368	-	1.8	1.76	2.04	0.45	2.0098	1.1472	0.4508	0.9605	0.4765	75.7%	285	188	144
2011-12-16	2012	1	3.94	3.05	0.06	3.40%	3.40%	641994	641994	167161	167161	132319	132319	0.0626	0.0626	7654812	4439331	3638070	2095342	203336	4016742	30441	27424	54509	1044630	3017	51492	1096122	2113836	2113836	6341508	2011-10-31	19.20%	26.04%	19.79%	0.3502	-	1.8	1.76	1.7	0.52	2.1187	1.1067	0.5231	0.954	0.4753	87.4%	344	162	139
2011-09-29	2011	4	3.47	2.79	-	3.62%	12.19%	810610	2673208	151127	544524	126221	425411	0.0585	0.1980	7551298	4687867	3664392	2169758	200341	3886906	220761	190334	68003	1147398	30427	98430	1048968	2158302	2148053	6194326	2011-07-31	11.17%	18.64%	16.37%	0.354	14.4917	1.72	1.67	1.72	0.49	2.1605	1.3826	0.4834	0.994	0.4853	94.2%	269	263	145
2011-06-23	2011	3	3.97	2.63	0.06	3.34%	8.57%	621204	1862598	158369	393397	116633	299190	0.0542	0.1399	7191699	4185354	3312764	1873561	227014	3878935	45965	11617	149436	1164306	57582	207018	957288	2151618	2138773	8068567	2011-04-30	20.40%	25.49%	24.77%	0.3584	-	1.71	1.71	2.19	0.44	2.2339	1.3906	0.5109	0.9071	0.4606	89.7%	261	230	138
2011-03-24	2011	2	3.95	3.57	-	2.69%	5.23%	607192	1241394	125337	235028	94025	182557	0.0439	0.0857	7002918	3970239	3200076	1716271	224162	3802842	3530	58657	132769	1164306	55127	77642	1086664	2143548	2131025	8124046	2011-01-31	14.90%	20.64%	22.63%	0.3523	-	1.68	1.68	2.26	0.51	2.3133	1.4831	0.6332	0.8942	0.457	91.4%	241	212	116
2010-12-17	2011	1	4.26	3.54	0.06	2.54%	2.54%	634202	634202	109691	109691	88532	88532	0.0418	0.0418	6836978	3803136	3044221	1518136	223589	3792757	150505	12753	83920	1161206	163258	79338	1240544	2120102	2120102	8119990	2010-10-31	11.53%	17.30%	17.54%	0.3603	-	1.68	1.68	2.28	0.59	2.5051	1.6479	0.8171	0.8529	0.4453	92.8%	217	184	112
2010-09-28	2010	4	4.01	3.46	-	2.70%	10.07%	714779	2455143	115192	412260	86728	322918	0.0420	0.1573	6733561	4008217	3243187	1870641	50198	3490374	498981	655880	159513	1162936	156899	2614	1165550	2066772	2052528	7853733	2010-07-31	11.14%	16.12%	24.10%	0.3643	24.1535	1.68	1.68	2.26	0.56	2.1427	1.3969	0.6231	0.9427	0.4816	87.1%	232	213	123
2010-06-24	2010	3	3.98	3.12	0.06	2.60%	7.36%	511200	1740364	101788	297068	83532	236190	0.0413	0.1167	6103517	3606560	2776601	1461276	52430	3326916	476466	503395	55715	1165095	26929	82644	1082451	2023746	2024757	6496224	2010-04-30	12.76%	19.91%	15.05%	0.4392	-	1.62	1.62	1.98	0.53	2.4681	1.7146	0.7408	0.848	0.4549	80.0%	164	190	87
2010-03-25	2010	2	3.28	2.7	-	2.12%	4.09%	603242	1227202	90184	173672	68033	131050	0.0336	0.0648	6026112	3445772	2761414	1463936	52337	3264698	350841	71107	59587	1146948	279734	220147	1367095	2021932	2021947	5742286	2010-01-31	9.87%	14.95%	22.17%	0.4561	-	1.59	1.59	1.79	0.68	2.3538	1.8734	0.9338	0.8596	0.4582	72.1%	101	181	94
2009-12-22	2010	1	2.96	2.58	0.06	2.31%	2.31%	623960	623960	94496	94496	74025	74025	0.0365	0.0365	5928950	3360417	2646018	1402818	49732	3282932	151565	5312	28793	1150203	156877	185670	1335873	2027760	2027760	5393841	2009-10-31	8.89%	15.14%	18.48%	0.4617	-	1.59	1.59	1.67	0.66	2.3955	1.9684	0.9523	0.8184	0.4463	71.5%	86	187	80
2009-09-29	2009	4	3.35	2.61	-	1.40%	6.25%	942241	2727302	80416	282157	43294	193689	0.0215	0.0962	5878459	3279213	2670685	1427451	46763	3207774	611286	50213	358186	850716	661499	303313	1154029	2018151	2012702	6518627	2009-07-31	4.74%	8.53%	41.45%	0.4639	33.5643	1.57	1.57	2.06	0.57	2.2973	1.8475	0.8085	0.8449	0.4543	67.9%	92	195	99
2009-06-25	2009	3	3.44	2.65	0.04	1.49%	4.86%	579366	1785061	63124	201741	46303	150395	0.0231	0.0749	5570957	2984756	2413706	1147148	42922	3157251	372823	181337	243069	838213	554160	311091	1149304	2008731	2008606	5403486	2009-04-30	8.29%	10.90%	22.77%	0.4732	-	1.55	1.55	1.74	0.57	2.6019	2.1265	1.0019	0.775	0.4333	69.7%	83	176	88
2009-03-26	2009	2	2.87	1.96	-	1.58%	3.36%	591731	1205695	66640	138617	49056	104092	0.0244	0.0518	5582393	2924599	2471231	1367487	48293	3111162	80650	181232	157980	853267	100582	57398	795869	2007130	2007928	4074473	2009-01-31	7.27%	11.26%	23.70%	0.4714	-	1.53	1.53	1.33	0.4	2.1387	1.7637	0.582	0.8068	0.4427	59.2%	79	222	67
2008-12-17	2009	1	2.1	1.79	0.04	1.78%	1.78%	613964	613964	71977	71977	55036	55036	0.0274	0.0274	5440735	2860072	2320130	1219288	45371	3120605	90444	202067	187961	839438	292511	104550	943988	2008860	2008860	3736479	2008-10-31	7.83%	11.72%	20.15%	0.466	-	1.53	1.53	1.22	0.47	2.3457	1.925	0.7742	0.7545	0.4264	64.7%	84	201	90
2008-09-24	2008	4	2.33	1.25	-	2.34%	10.86%	851299	2403660	136200	470814	70203	325078	0.0349	0.1617	5774301	2993611	2676818	1594033	45901	3097483	321151	122542	313663	975640	443693	130030	845610	2008783	2010881	4600113	2008-07-31	10.33%	16.00%	44.95%	0.4163	14.1656	1.52	1.52	1.51	0.42	1.878	1.5527	0.5305	0.8772	0.4636	58.2%	91	247	135
2008-06-25	2008	3	3.02	2.17	0.125	2.56%	8.51%	574697	1552361	114700	334614	76705	254875	0.0381	0.1268	5160758	2417257	2000252	1233335	50928	3160506	270817	101291	23671	985757	372108	395779	589978	2015432	2010584	4695956	2008-04-30	13.88%	19.96%	30.46%	0.402	-	1.55	1.55	1.5	0.29	1.9599	1.635	0.4784	0.6433	0.3876	57.1%	82	244	113
2008-03-26	2008	2	3.5	2.12	-	3.01%	5.95%	495242	977664	113438	219914	90107	178170	0.0447	0.0887	4862645	1994066	1779448	1012850	47036	3083197	278553	102500	139991	992144	381053	521044	471100	2016356	2009245	6331357	2008-01-31	16.62%	22.91%	17.33%	0.3696	-	1.51	1.51	2.08	0.23	1.9688	1.6013	0.4651	0.5861	0.3659	54.6%	88	225	106
2007-12-17	2008	1	5.8	2.8	0.125	2.94%	2.94%	482422	482422	106476	106476	88063	88063	0.0439	0.0439	4703688	1860689	1568019	995176	48645	3135669	132950	67084	292670	981237	200034	492704	488533	2004553	2004553	9220943	2007-10-31	14.98%	22.07%	15.10%	0.3472	-	1.54	1.54	2.99	0.24	1.8697	1.5275	0.4909	0.5079	0.3334	53.0%	87	223	136
2007-09-26	2007	4	4.88	3.74	-	N/A	N/A	522093	1516359	84999	276561	46671	185428	0.0475	0.2149	5038482	2263704	2044099	1470239	48433	2994383	33854	245214	735019	456610	211360	523659	980269	983433	863008	7670777	2007-07-31	9.40%	16.28%	17.39%	0.301	36.3023	3.41	3.41	2.29	1.0	1.5397	1.2922	0.6667	0.6939	0.4057	52.3%	98	214	174
2007-06-25	2007	3	N/A	N/A	0.23	N/A	N/A	297289	994266	68292	191562	45022	138757	0.0483	0.1660	4727960	2232575	1753639	1277012	46850	2974321	70705	146147	745696	462316	216852	528844	991160	931977	835908	7316019	2007-04-30	13.96%	22.97%	24.87%	0.2103	-	3.5	3.48	2.26	1.06	1.7483	1.4984	0.7762	0.599	0.3709	96.1%	133	318	191
2007-03-27	2007	2	N/A	N/A	0.23	N/A	N/A	331167	696977	60093	123270	46612	93735	0.0553	0.1164	4412508	2071350	1772314	1295666	39027	2640194	36125	110135	473824	463828	74010	399814	863642	842197	805428	5979598	2007-01-31	10.88%	18.15%	14.84%	0.158	-	3.23	3.21	2.21	1.03	1.5987	1.3559	0.6666	0.6814	0.4017	111.3%	-	448	N/A
2006-12-21	2007	1	N/A	N/A	-	N/A	N/A	365810	365810	63177	63177	47123	47123	0.0616	0.0616	3862490	1556192	1519741	643250	53567	2342749	16139	52889	49136	457092	36750	12386	469478	764794	764794	3028584	2006-10-31	11.14%	17.27%	17.52%	0.0947	-	2.99	2.97	1.33	0.61	2.4193	2.0255	0.7299	0.6639	0.3935	249.6%	-	797	N/A

Financial Quarter Balance Sheet

year	qrt	Concession and quarry rights (A-0)	Deferred tax assets (A-0)	Intangible assets (A-0)	Investment in associated companies (A-0)	Investment properties (A-0)	Land held for property development (A-0)	Motorway development expenditure (A-0)	Other investments (A-0)	Prepaid lease payments (A-0)	Property, plant and equipment (A-0)	Receivables (A-0)	Amount due from customers (A-1)	Cash and cash equivalents (A-1)	Current tax assets (A-1)	Inventories (A-1)	Investment securities (A-1)	Other receivables (A-1)	Property development costs (A-1)	Deferred tax liabilities (L-0)	Derivative liabilities (L-0)	Loans & borrowings (L-0)	Long term payables (L-0)	Provisions (L-0)	Amount due to customers (L-1)	Current tax liabilities (L-1)	Derivative liabilities (L-1)	Loans & borrowings (L-1)	Other payables (L-1)	Provisions (L-1)	Minority interest (M-1)
2013	1	-	23229	97074	1655399	48299	734897	318218	733	4339	379160	162254	715676	1385772	25749	52907	307150	1209011	1678064	84731	3510	851943	142813	3465	440044	31260	2477	1424706	1385768	28916	219295
2012	4	-	24973	97848	1660337	47838	580854	318807	733	4447	375388	160020	611255	1337355	22086	66481	279104	1095469	1811244	86126	4281	855373	166223	12931	469327	28760	2567	1326968	1251635	21177	220839
2012	3	-	16968	98623	1638871	18354	576780	321460	733	4585	387677	188927	522065	1127342	16075	17911	360144	980686	1561021	82057	4160	1372211	97756	3465	525375	46476	2176	663851	812450	20848	217369
2012	2	-	21283	99398	1619540	18364	779115	321830	733	4658	389904	189534	397674	960470	22082	19580	237021	1064080	1581367	83158	4705	1362307	97161	3465	506362	42884	2182	637346	930747	11129	212348
2012	1	-	19830	100172	1627264	11148	553850	322359	733	4764	384245	191116	243651	1096122	31233	30283	293680	947975	1796387	86227	4269	1354189	94578	3465	547799	28144	1782	648133	858680	10804	203336
2011	4	-	19280	100947	1619630	11157	248637	323357	733	4872	345718	189100	812893	1048968	23410	34105	336623	1114615	1317253	86307	3894	1323480	77488	3465	610041	15395	1483	626179	909275	7385	200341
2011	3	60325	19321	-	1561882	2580	513431	323785	20733	5180	251380	247728	622644	957288	21023	34997	438186	1004409	1106807	17073	-	1387216	34914	-	629845	34572	-	371930	837214	-	227014
2011	2	61100	22610	-	1550551	2590	522803	324034	20733	5172	268905	254181	509102	1086664	23793	50872	459539	925804	914465	17073	-	1428226	38506	-	657791	19438	-	352123	686919	-	224162
2011	1	61874	24738	-	1520036	2383	534064	324609	20733	5189	288557	251659	291426	1240544	18505	58780	497981	951227	744673	17073	-	1436126	72886	-	514756	10117	-	321853	671410	-	223589
2010	4	62649	21824	-	1493166	2604	278279	324869	20733	5297	301639	214284	411155	1165550	14652	79738	764104	1021661	551357	17026	-	1278736	71203	5581	606375	7945	-	511273	740344	4704	50198
2010	3	63424	24158	-	1300142	2619	420536	324739	733	6317	315980	38309	311115	1082451	25648	60160	617799	1086303	423084	16817	-	1281743	16765	-	524908	19176	-	335000	582192	-	52430
2010	2	64198	24876	-	1341430	2629	437531	325466	733	6429	336742	40306	328405	1367095	13938	65637	182303	1033093	455301	16828	-	1264036	16614	-	527716	25430	-	258645	652145	-	52337
2010	1	64973	24158	-	1291925	2638	463614	326024	733	6541	347621	40306	320291	1335873	22775	72149	100668	1082425	426236	16828	-	1210500	15872	-	421588	17454	-	403534	560242	-	49732
2009	4	65747	23114	-	1286680	2648	482678	326271	733	6650	364419	40306	379319	1154029	24114	101082	100668	1079815	440186	17083	-	1210500	15651	-	393488	14818	-	328165	690980	-	46763
2009	3	65813	16385	-	1246844	3255	529627	326525	733	6961	349752	40306	300736	1149304	19952	102883	20000	969409	422472	20046	-	1216750	29762	-	133773	9646	-	424993	578736	-	42922
2009	2	66605	16527	-	1310421	3268	529627	326752	733	7208	356347	40306	360217	795869	13345	105339	20000	1242444	387385	20159	-	1054000	29585	-	232229	16350	-	681722	437186	-	48293
2009	1	67397	16531	-	1302822	3278	519627	326890	733	7208	293744	42433	310473	943988	10051	107177	20000	1082569	385814	20149	-	1051500	29193	-	73631	17510	-	577254	550893	-	45371
2008	4	68189	13777	-	1510822	3288	519277	326809	733	7232	288130	42433	304635	845610	4996	110122	20000	1319735	388513	17549	-	1036500	28736	-	17524	25992	-	782253	768264	-	45901
2008	3	71246	16423	-	1423303	3300	588334	327026	733	7355	278615	27166	373335	589978	40207	101504	20000	1012942	279291	20902	-	686500	59515	-	20107	37393	-	622702	553133	-	50928
2008	2	72038	16269	-	1538371	3326	588334	327220	733	7479	287643	27166	514410	471100	42828	104039	20000	593495	248194	20902	-	686500	59196	-	29944	21268	-	511857	449781	-	47036
2008	1	72830	16269	-	1509649	3337	591447	327448	733	7603	286517	27166	301593	488533	36165	106220	25000	693857	209321	20902	-	496500	55441	-	52631	13011	-	393459	536075	-	48645
2007	4	73622	16021	-	1475919	3348	548443	327647	733	7727	294152	27166	238085	980269	31421	140495	25000	650000	198434	20654	-	496500	56706	-	67990	19438	-	738123	644688	-	48433
2007	3	56583	11998	17967	1427159	1176	-	323601	733	354468	273116	28584	223297	991160	56394	86298	-	642613	232813	20113	-	450000	6514	-	27962	29644	-	760337	459069	-	46850
2007	2	57167	12027	18458	1389986	1176	246613	317311	733	-	269103	28584	154604	863642	36706	95976	-	701786	218636	20139	-	450000	6509	-	65322	18331	-	765539	446474	-	39027
2007	1	57752	9299	18458	1373638	1197	-	302239	733	275419	238979	28584	98531	469478	34413	103729	-	700488	149553	20139	-	850000	6352	-	111016	20550	-	180307	331377	-	53567

Financial Quarter Income Statement

year	qrt	Revenue	Income tax expense	Finance/interest costs	Other income	Administrative/Operating expenses	Minority interest	Share of profit/ (loss) of associates
2013	1	771339	34453	16672	13744	640962	2261	54703
2012	4	969818	36043	14499	15612	833449	195	39256
2012	3	705863	52114	14505	11873	558419	5901	51216
2012	2	769328	40981	19394	9358	628749	10829	57740
2012	1	641994	33081	13992	8828	527588	1761	57919
2011	4	810610	24734	15424	7775	727841	172	76007
2011	3	621204	39230	12732	13255	507746	2506	44388
2011	2	607192	28370	15989	8124	524830	2942	50840
2011	1	634202	19245	14634	13933	575004	1914	51194
2010	4	714779	27765	15369	22340	657508	699	50950
2010	3	511200	15320	7745	5346	451332	2936	44319
2010	2	603242	19998	9532	9129	552811	2153	40156
2010	1	623960	17464	11167	7340	575833	3007	50196
2009	4	942241	33335	8627	15667	913231	3787	44366
2009	3	579366	14373	14001	8529	539858	2448	29088
2009	2	591731	15792	11433	7753	556473	1792	35062
2009	1	613964	14503	10773	5730	571638	2438	34694
2008	4	851299	61224	9021	19392	782748	4773	57278
2008	3	574697	34934	8962	14284	509208	3061	43889
2008	2	495242	19655	4287	5913	418850	3676	35420
2008	1	482422	16073	2670	4847	414988	2340	36865
2007	4	522093	14781	8355	10968	483974	23547	44267
2007	3	297289	16982	3545	15610	271389	6288	30327
2007	2	331167	8915	4561	12842	307989	4566	28634
2007	1	365810	11070	3408	5142	330213	4984	25846

Financial Quarter Segments Revenue

year	qrt	Elimination/Adjustment	Engineering & Construction	Property Development & Club Operations	Water & Expressway Concessions
2013	1	1615	480439	259619	32896
2012	4	-	675763	267879	26176
2012	3	1926	399100	278164	30525
2012	2	2533	448472	295646	31121
2012	1	3378	382665	225244	34085
2011	4	2305	556084	223236	33595
2011	3	4024	423787	172448	28993
2011	2	5331	407697	171454	33372
2011	1	4665	471083	137423	30361
2010	4	11893	521975	158508	46188
2010	3	1448	362035	123375	29201
2010	2	8077	464531	116649	30139
2010	1	2792	469546	127824	29382
2009	4	4015	793256	118798	26172
2009	3	2806	469020	88865	24287
2009	2	2975	468544	101458	24704
2009	1	5679	496143	98243	25257
2008	4	18463	645414	161242	26180
2008	3	28127	495167	99375	27083
2008	2	11217	362314	107990	26282
2008	1	5322	348469	104203	26144
2007	4	34157	383895	79060	24981
2007	3	15776	215372	73145	24548
2007	2	51237	258753	100816	22835
2007	1	14530	242543	117912	19885

Financial Quarter Segments Profit

year	qrt	Elimination/Adjustment	Engineering & Construction	Property Development & Club Operations	Water & Expressway Concessions
2013	1	-	59219	69265	15637
2012	4	2027	63791	81630	8587
2012	3	-	61712	82274	15331
2012	2	-	64940	72962	12035
2012	1	-	45934	57198	20102
2011	4	-	40737	39333	10474
2011	3	-	58547	50094	18072
2011	2	-	33595	37536	19355
2011	1	-	30975	27531	14625
2010	4	2139	35090	20516	21866
2010	3	733	21700	26953	17294
2010	2	745	24227	21775	14303
2010	1	661	18886	21014	16228
2009	4	259	20580	14817	9539
2009	3	-	14720	19832	13485
2009	2	-	12201	17779	13031
2009	1	-	15649	17745	14662
2008	4	1346	32644	39972	16673
2008	3	-	39673	26185	13915
2008	2	-	38121	29197	14987
2008	1	-	32458	28221	11602
2007	4	-	10469	22393	10447
2007	3	-	7236	16041	11293
2007	2	-	6050	14385	11812
2007	1	-	10553	17286	10829

Financial Quarter Segments Associate

year	qrt	Property Development & Club Operations	Water & Expressway Concessions
2013	1	1388	53315
2012	4	778	38478
2012	3	4101	47115
2012	2	4781	59684
2012	1	3023	48171
2011	4	2608	73399
2011	3	2549	41839
2011	2	1061	49779
2011	1	3023	48171
2010	4	2021	38812
2010	3	3451	30368
2010	2	3309	25839
2010	1	3278	46918
2009	4	5431	38935
2009	3	712	28376
2009	2	4319	30743
2009	1	3685	31009
2008	4	6864	50414
2008	3	13079	30810
2008	2	6297	29123
2008	1	4515	32350
2007	4	8608	35659
2007	3	5416	24911
2007	2	5005	23629
2007	1	649	25197

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

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