Boustead Holdings Berhad

Date announced 29/11/2010
Quarter 30/09/2010 Qtr 3 FYE 31/12/2010

STOCK BSTEAD C0DE  2771 

Price $ 5.25 Curr. PE (ttm-Eps) 10.21 Curr. DY 2.79%
LFY Div 14.64 DPO ratio 36%
ROE 11.8% PBT Margin 10.2% PAT Margin 6.1%

Rec. qRev 1513900 q-q % chg 6% y-y% chq 7%
Rec qPbt 153700 q-q % chg -17% y-y% chq 22%
Rec. qEps 9.77 q-q % chg -38% y-y% chq -21%
ttm-Eps 51.40 q-q % chg -5% y-y% chq 41%

Using VERY CONSERVATIVE ESTIMATES:
EPS GR 5% Avg.H PE 9.00 Avg. L PE 6.00
Forecast High Pr 5.90 Forecast Low Pr 3.39 Recent Severe Low Pr 3.39

Current price is at Upper 1/3 of valuation zone.
RISK: Upside 26% Downside 74%
One Year Appreciation Potential 2% Avg. yield 5%
Avg. Total Annual Potential Return (over next 5 years) 7%

CPE/SPE 1.36 P/NTA 1.21 NTA 4.35 SPE 7.50 Rational Pr 3.86



Decision:
Already Owned: Buy Hold Sell Filed Review (future acq): Filed Discard: Filed
Guide: Valuation zones Lower 1/3 Buy Mid. 1/3 Maybe Upper 1/3 Sell

Aim:
To Buy a bargain: Buy at Lower 1/3 of Valuation Zone
To Minimise risk of Loss: Buy when risk is low i.e UPSIDE GAIN > 75% OR DOWNSIDE RISK <25%
To Double every 5 years: Seek for POTENTIAL RETURN of > 15%/yr.
To Prevent Loss: Sell immediately when fundamentals deteriorate
To Maximise Gain & Reduce Loss: Sell when CPE/SPE > 1.5, when in Upper 1/3 of Valuation Zone & Returns < 15%/yr


Stock Data: Recent Stock Performance:
Current Price (11/19/2010): 5.53
(Figures in Malaysian Ringgits)
1 Week -1.1% 13 Weeks -2.3%
4 Weeks 26.5% 52 Weeks 62.6%

Boustead Holdings Berhad Key Data:
Ticker: BOUS Country: MALAYSIA
Exchanges: KUL Major Industry: Diversified
Sub Industry: General Diversified

2009 Sales 5,392,000,000
(Year Ending Jan 2010).
Employees: 8,022

Currency: Malaysian Ringgits Market Cap: 5,199,095,860
Fiscal Yr Ends: December Shares Outstanding: 940,162,000
Share Type: Ordinary Closely Held Shares: 568,935,789


Day's Range: 5.20 - 5.28
52wk Range: 3.26 - 6.05
Volume: 878,800
Avg Vol (3m): 1,043,570

Note:  Boustead declared interim dividends for each quarter of this financial year.
Q1 2010 5 sen
Q2 2010 10 sen
Q3 2010 12 sen