HAI-O

Date announced 29/09/2010
Quarter 31/07/2010 Qtr 1
FYE 30/4/2011

STOCK HAI-O
C0DE  7668 

Price $ 3.08 Curr. PE (ttm-Eps) 11.85 Curr. DY 3.86%
LFY Div 11.88 DPO ratio 38%
ROE 24.5% PBT Margin 19.7% PAT Margin 14.3%

Rec. qRev 54751 q-q % chg -45% y-y% chq -63%
Rec qPbt 10785 q-q % chg -32% y-y% chq -59%
Rec. qEps 3.91 q-q % chg 31% y-y% chq -58%
ttm-Eps 26.00 q-q % chg -17% y-y% chq -8%

Using VERY CONSERVATIVE ESTIMATES:
EPS GR 1% Avg.H PE 10.00 Avg. L PE 5.00
Forecast High Pr 2.73 Forecast Low Pr 1.30 Recent Severe Low Pr 2.85
Current price is at Upper 1/3 of valuation zone.

RISK: Upside -24% Downside 124%
One Year Appreciation Potential -2% Avg. yield 3%
Avg. Total Annual Potential Return (over next 5 years) 1%

CPE/SPE 1.58 P/NTA 2.91 NTA 1.06 SPE 7.50 Rational Pr 1.95


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