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Saturday, December 8, 2012

KLCI Stock - TIMECOM / 5031 - 2012 Quarter 3

TIME DOTCOM BERHAD


Company Description
TIME DOTCOM BERHAD is a Malaysia-based investment holding company engaged in the provision of management and marketing/promotional services and retailing of telecommunications products. Its subsidiaries are TT dotCom Sdn. Bhd., which is engaged in the provision of voice, data, video and image communication services; TIMESat Sdn. Bhd.; TIME dotNet Bhd., which is engaged in the provision and marketing of Internet services to customers, which include the provision of access to the world wide Web, the organization and aggregation of content, provision of virtual private network, online call center, Internet telephony, online services, on-net advertising and virtual data storage and provision of application services, and Hakikat Pasti Sdn. Bhd., which is engaged in acquiring and holding for investment purposes shares, stocks, debenture bonds, notes, obligations and securities and every other kind and description of movable and immovable property.

Company Info 
Listing Date2001-03-12
IPO Price3.3
Market Capital (Capital Size)2,005,826,868 (Large)
Par ValueRM 0.50
BoardMain
SectorIPC
Major IndustryUtilities
Sub IndustryMobile Communication & Network Services
Websitehttp://www.time.com.my

My Analysis 
Forecast P/E now3.5/0.2769 = 12.64 (Moderate)
Target Price0.2769*13.5 = 3.74 (PE 13.5, EPS 0.2769)
DecisionBUY if stock price strong sustain and uptrend above SMA10 or wait rebound at around SMA100 or SMA200
Comment
Revenue increased 3.9% and was second consecutive quarter increasing and also higher than preceding year corresponding quarter 43%, eps decreased 8.8% and also lower than preceding year corresponding quarter 21.6%, cash generated from operating not enough to cover all financing expenses hence increase borrowings and spent 16.2% of Group cash to cover all other expenses, operating margin recorded 18% which is improve compared to earlier below 15%, liquidity ratio indicate current assets more than enough to meet current obligation, gearing ratio indicate very low liabilities risk, benefit from shorter receivables collection period than payables payment period in which can increase cash
First Support Price3.45
Second Support Price3.3
Risk RatingMODERATE

Research House
HLG Target Price4.66 (2012-11-29)
OSK Target Price4.98 (2012-11-29)

Accounting Ratio 
Return on Equity7.84%
Dividend Yield-
Operating Profit Margin18.64%
Net Profit Margin33.81%
Tax Rate3.20%
Asset Turnover0.1369
Net Asset Value Per Share4.42
Net Tangible Asset per share4.03
Price/Net Tangible Asset Per Share0.84
Cash Per Share0.36
Liquidity Current Ratio1.6127
Liquidity Quick Ratio1.6127
Liquidity Cash Ratio0.8536
Gearing Debt to Equity Ratio0.1663
Gearing Debt to Asset Ratio0.1426
Working capital per thousand Ringgit sale39.1%
Days to sell the inventory-
Days to collect the receivables177
Days to pay the payables268

Technical Analysis 
SMA 103.446 (Uptrend)
SMA 203.45 (Uptrend 1 day)
SMA 503.419 (Uptrend)
SMA 1003.393 (Same)
SMA 2003.314 (Uptrend)
MACD (26d/12d)0.008863 ( 0.00319 )
Signal (9)0.0049 ( 0.000991 )
MACD Histogram0.003963 (Bullish trend 3 days)
Bolinger Upper Band3.531
Bolinger Lower Band3.369

My notes based on 2012 quarter 3 report (number in '000):-
- Higher revenue than FY11Q3 mainly due to new revenue contribution from the Group’s acquisition and higher data revenue from the Group’s existing business offset by lower in the current quarter due to lower international interconnect traffic but lower pbt mainly due to adjustments to operating expenses amounting to RM19.7 million recognised in the previous year corresponding period

- Higher revenue than FY12Q2 mainly due to higher contributions from data centre sales and data revenue off-set by the reduction in voice revenue but lower pbt mainly due to lower global bandwidth sales, higher depreciation and higher finance expenses

- Estimate next 4Q eps after 2012 Q3 result announced = 0.2769, estimate PE on current price 3.5 = 12.64
- Estimate next 4Q eps after 2012 Q2 result announced = 2065463*0.07/522179 = 0.2769, estimate highest/lowest PE = 12.86/11.2
- Estimate next 4Q eps after 2012 Q1 result announced = 1836409*0.07/2530775*5 = 0.254, estimate highest/lowest PE = 14.37/10.63
- Estimate next 4Q eps after 2011 Q4 result announced = 1757657*0.06/2530775 = 0.0417, estimate highest/lowest PE = 17.99/12.95 (DPS 0.02)
- Estimate next 4Q eps after 2011 Q3 result announced = 0.0426, estimate highest/lowest PE = 18.19/15.38
- Estimate next 4Q eps after 2011 Q2 result announced = (0.009+0.0113)*2*1.05 = 0.0426, estimate highest/lowest PE = 16.31/9.74
- Estimate next 4Q eps after 2011 Q1 result announced = 0.009*4*1.05 = 0.0378, estimate highest/lowest PE = 22.22/14.02

TIMECOM latest news (English)

TIMECOM latest news (Chinese)


Financial Quarter Summary
a_dateyearqrth_pricel_pricedivroec_roerevc_revpbtc_pbtprofc_profepsc_epsassetc_assetliabc_liabminoequicfocficffcashfcfnetfinalsharec_sharem_capdateoper_mprof_mvatasset_tpenavpsntapsp/ntapscpsl_curl_quil_cashg_deg_daavg_winv_drec_dpay_d
2012-11-2720123N/AN/A-2.05%5.83%11006929725737216105503360261024640.06300.19012779044391721396259242892-23827858320013850619990217588553063531618227257207053899219278752012-09-3018.64%33.81%3.20%0.1369-4.424.030.840.361.61271.61270.85360.16630.142639.1%-177268
2012-08-16201223.563.1-2.12%3.78%105928187188386586828737186664380.06910.12722494946408274429483266067-20654634547310808331448217699626103116218653753838052217917820372012-06-3022.03%36.49%3.81%0.1392-3.963.550.930.391.53451.53450.7870.20790.172140.9%-209338
2012-05-18201213.652.7-1.66%1.66%8126081260296292962929252292520.01160.01162030481408172194072193953-18364091417519085N/A217442491049102125322530775253077568584002012-03-3112.60%36.46%1.27%0.1601-0.730.733.710.092.10452.10451.19030.10570.095665.9%-199278
2012-02-23201143.240.650.022.01%9.39%8318431387225596119020251701173540.00990.04641950698393175193041192803-17576578490367122N/A19966117781177812174422530775253077517209272011-12-3116.38%30.77%1.66%0.160914.66440.690.690.990.092.03932.03931.21640.10980.09963.8%-184288
2011-11-25201130.7750.655-3.26%7.38%76979230688419449342440704921840.01610.03641673604364001171567170009-15020376074453119N/A199661762576252072862530775253077516323492011-09-3041.57%54.49%2.96%0.1889-0.590.591.090.092.14112.14111.31530.11420.102561.3%-161248
2011-08-24201120.6950.415-2.29%4.12%83649153709285975148028597514800.01130.02031600652350933177269175711-14233832019514022N/A199661617361732058342530775253077513539642011-06-3018.06%34.19%-0.204-0.560.560.960.081.99721.99721.22010.12450.110753.7%-152228
2011-05-30201110.840.53-1.83%1.83%7006070060228832288322883228830.00900.00901599114377906216428212169-1382686171003486N/A19966120586205862202472530775253077520119662011-03-3113.50%32.66%-0.2039-0.550.551.450.091.78121.78121.04370.15650.135350.8%-174273
2011-02-28201040.9550.73-4.16%10.05%855203210832620788906443721070710.01750.04231435733343315185930181671-124980348362222163817355326146261081996612530775253077519107352010-12-3112.78%30.64%-0.223617.84550.490.491.540.081.88981.88981.0990.14880.129550.3%-162233
2010-11-25201030.8950.62-1.97%5.88%87346235563209496269920949626990.00830.02481391563355547194382194382-119718164841411833817355323658236201971732530775253077517082732010-09-3011.41%23.98%-0.2232-0.470.471.440.081.82911.82911.01440.16240.139751.9%-186258
2010-08-24201020.7750.485-2.16%3.92%83177148217229824175022982417500.00910.01651296662319536156180156180-11404824621620619N/A17355325597255971991502530775253077514425412010-06-3014.71%27.63%-0.2261-0.450.451.270.082.04592.04591.27510.13690.120455.7%-150219
2010-05-27201010.7250.4-1.76%1.76%6504065040187681876818768187680.00740.00741268224295035162274162274-11059502118919869N/A173553132013201748732530775253077510249632010-03-314.60%28.86%-0.2191-0.440.440.920.071.81811.81811.07760.14670.12847.8%-158231
2010-02-22200940.5450.37-3.04%3.20%74977286811313833309631383330860.01240.01311219472273193153740153740-1065732939149900109896488401483905173553253077525307759490402009-12-3113.46%41.86%-0.235228.68410.420.420.890.071.7771.7771.12890.14430.126141.6%-125207
2009-11-12200930.4350.365-1.16%0.16%699312118341194117131194117030.00470.00071184050252890149701149701-1034349698221833065008964851492579921476402530775253077510249632009-09-3011.47%17.08%-0.2406-0.410.410.990.061.68931.68930.98620.14470.126436.2%-13530
2009-08-27200920.460.365-2.37%0.99%67898141903244541022824454102380.00970.00401746114810581723706723706-10224082675621613N/A8964851435143947912530775253077510502712009-06-300.53%36.02%-0.1667-0.40.41.040.051.121.120.15790.70780.414529.8%-12434
2009-05-28200910.4550.335-3.36%3.36%7400574005346823468234692346920.01370.01371778469245182780515247105-997954475211857N/A896487105710582543253077525307759616942009-03-313.73%46.86%-0.1656-0.390.390.970.050.99220.99220.51660.78210.4389-0.7%-11631
2009-02-27200840.460.2-75.27%47.91%73001286525149269095047114920639496300.58960.375223062637787971273617660207-10326467104873572N/A921722524252489648253077525307756580012008-12-311984.46%2044.75%-0.1242-0.410.410.630.051.17961.17960.20991.23340.552241.4%-17328
2008-11-28200830.3050.24-0.17%27.36%76235213524386754221934585424330.00140.214338234182942081298709155629-25247095597250995N/A921724977497797149253077525307756326932008-09-3044.75%5.07%-0.0744-1.00.760.330.071.89041.8541.1990.51440.339748.7%5131139
2008-08-28200820.3450.21-30.37%27.54%712481372896020635460866019735458910.23790.215738120952534411283928156716-25281676172132676N/A921722904529045121217253077525307758098482008-06-3056.53%845.02%0.01%0.0742-1.00.770.420.071.61721.57971.06140.50780.336834.2%6105171
2008-05-22200810.4250.295-2.83%2.83%6604166041559775597756082560820.02220.022232000962352761273902170378-1926194855914377N/A9217258185818863542530775253077510755792008-03-3159.66%84.76%-0.0898-0.760.530.80.051.38091.34530.80030.66140.398122.6%9118241
2008-02-26200740.5850.405-2.33%7.50%7078930106150537160903499431606730.01970.063532286362403631246360158551-19822763960344807N/A9737652045204921722530775253077514425412007-12-3154.36%71.39%-0.0932-0.780.551.040.061.5161.47720.89670.62880.38627.2%8112216
2007-11-23200730.8650.56-1.78%5.17%7465123027237944110366380411107300.01500.04382191610256450159391159391-20322193974028651N/A14737611089110891584652530775253077520752352007-09-3052.49%50.83%-0.1395-0.80.571.440.061.60891.56020.99420.07840.072731.7%9108177
2007-08-20200721.050.8-1.54%3.39%75975155621327957242232947726890.01300.02872224541256851154281154281-20702602768020093N/A1473767587758715496325307752530775N/A2007-06-3044.91%43.17%-0.1039-0.820.58N/A0.061.66481.6141.00440.07450.069444.4%11149224
2007-05-2920071N/AN/A-1.85%1.85%7964679646396273962739742397420.01570.01572256180246944152973152973-2103207578310850N/A147376506750671423092530775253077520625812007-03-3151.09%49.75%-0.0688-0.830.61.360.061.61431.56270.93030.07270.067860.6%16228319
2007-02-2220064N/AN/A-N/AN/A7552133539552393177076525851777820.02080.07022285105242143142156142156-21429492509687906N/A21018662810628101473762530775253077518727732006-12-3171.42%69.38%-0.033-0.850.611.210.061.70341.64781.03670.06630.0622132.4%33420590

Financial Quarter Balance Sheet
yearqrtAvailable-for-sale financial assets (A-0)Deferred tax assets (A-0)Intangible assets (A-0)Property, plant and equipment (A-0)Telecommunications network (A-0)Trade receivables (A-0)Cash and cash equivalents (A-1)Current asset classified as held for sales (A-1)Current tax assets (A-1)Inventories (A-1)Restricted cash (A-1)Trade receivables (A-1)Deferred tax liabilities (L-0)Finance lease liabilities (L-0)Loans & borrowings (L-0)Trade payables (L-0)Bank overdraf (L-1)Deferred income (L-1)Finance lease liabilities (L-1)Liabilities directly associated with assets classified as held for sale (L-1)Loans & borrowings (L-1)Provision for taxation (L-1)Trade and other payables (L-1)
2012314521001950421303867352635329-183010-15-2431418438225543893146166754738-3454-11447924226329
20122116884019114213038667166167942170186713-15-22684198862255451111546191132176-3425-133253893245248
20121111654018504-355694455406156212532---18336177304---119-----381193572
20114106704018504-3420542697210802217442-705-17084157944---238-----222192581
2011383659018504-3600540253715967207286-621-16324139770---1558-----1073168936
2011279860018504-2845038443219733205834-833-8557135709---1558------175711
2011178650018504-2833837154516321220247-833-1200155626---4259------212169
2010467650018504-2816034954819706199661-833--142821---4259------181671
20103668250--29156338610-197173----158374----------194382
20102632500--30280314346-199150----120386----------156180
20101620950--31217321022-174873----120162----------162274
20094599500--31950314829-173553-1230--98410----------153740
20093599500--32840298820-147640----105250--------6500-143201
20092599500--36072299961-114253597222---99106--------560075-163631
200911196722--33563303002-12765823974---93550--533410----1567475987-155444
200841196722--33273297471-138595504670---135532--613410----12136505900-142171
200831766207-591401396371131965-186593--5679-101936--1143080--18286----137343
200821766207-591401401291160917-166343--5877-81221--1127212--18844----137872
200811081457-591401409841250978-136354--6059-92863--1103524--20014----150364
200741081457-591401407611274654-142172--6153-92038--1087809--21947----136604
20073--591401438271299932-158465--7768-90217-----23512---405135474
20072--591401463721329917-154963--7846-94042-----21874---285132122
20071--591401489521368883-142309--7888-96747-----22472---318130183
20064--591401505361401025-147376--7903-86864-----22488---482119186

Financial Quarter Income Statement
yearqrtRevenueIncome tax expenseCost of salesFinance/interest costsOther incomeAdministrative/Operating expensesFinance/interest incomeDepreciation & amortisationInvestment gain/lossImpairment lossNet realised gain on disposal of investment in quoted securitiesGain/loss on disposal of non-current assets held for salePayment for voluntary separation scheme
201231100691190-201162372436-1774318714----
201221059281472-1131131367982-1592516455----
2012181260377--75158513-1325719388----
2011483184426--46953885-1614611974----
20113769791240--41931523-138749943----
2011283649---23455503-1327313490----
2011170060---4547505-1314313426----
201048552018165-072662209-1310915279----
2010387346--3834965943-1178811023----
2010283177---54858438-1305410749----
2010165040---24149523-1276815778----
20094749770-109197454056-1280521402-0-0
20093699310-410239451267-1104014046-5643-11664
20092678980-592083856465-1191330016-0--
200917400510-9917133066633-114651050-23052--
2008473001627-1727514562366-2409246172012185318525003210
2008376235409-15552223170622-4195745798--0-
200827124890-21803237272559-4133547155--616985-
2008166041105-17657167766306-408121080----
20074707895942800613371175734069-489491312----
200737465197767750571376301239------
2007275975152759434877350321332------
200717964611586984-890342401061------
20064755211928758152502423781595------

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:

Unknown said...

As a researcher I finds KLSE stock analysis not more difficult as before. As I also got a detailed information about Malaysian market from here itself.

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