Wednesday, 15 December 2010

Top Glove Corporation Berhad



Date announced 15-Dec-10
Quarter 30/11/2010 Qtr 1 FYE 31/08/2011

STOCK TOPGLOV C0DE  7113 

Price $ 5.45 Curr. PE (ttm) 15.33 Curr. DY 2.94%
LFY Div 16.00 DPO ratio 39%
ROE 18.7% PBT Margin 9.0% PAT Margin 7.3%

Rec. qRev 491509 q-q % chg -9% y-y% chq 4%
Rec qPbt 44405 q-q % chg 5% y-y% chq -49%
Rec. qEps 5.83 q-q % chg -20% y-y% chq -47%
ttm-Eps 35.56 q-q % chg -13% y-y% chq 5%

Using VERY CONSERVATIVE ESTIMATES:
EPS GR 5% Avg.H PE 13.00 Avg. L PE 9.00
Forecast High Pr 5.90 Forecast Low Pr 4.25 Recent Severe Low Pr 4.25

Current price is at Upper 1/3 of valuation zone.
RISK: Upside 27% Downside 73%
One Year Appreciation Potential 2% Avg. yield 3%
Avg. Total Annual Potential Return (over next 5 years) 5%

CPE/SPE 1.39 P/NTA 2.87 NTA 1.90 SPE 11.00 Rational Pr 3.91



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 (12/10/2010): 5.52
(Figures in Malaysian Ringgits)
1 Week -1.4% 13 Weeks 0.7%
4 Weeks -2.8% 52 Weeks 20.0%

Top Glove Corporation Berhad Key Data:
Ticker: TOPGLOV Country: MALAYSIA
Exchanges: KUL Major Industry: Apparel & Textiles
Sub Industry: Apparel Manufacturers

2010 Sales 2,079,432,000
(Year Ending Jan 2011). Employees: 11,500

Currency: Malaysian Ringgits Market Cap: 3,413,203,680
Fiscal Yr Ends: August Shares Outstanding: 618,334,000
Share Type: Ordinary Closely Held Shares: 267,967,762


Day's Range: 5.35 - 5.40
52wk Range: 4.98 - 14.54
Volume: 758,200

1 comment:

bullbear said...

HwangDBS Research and UOB Kay Hian Group cut their profit forecasts; RHB Research Institute cut its price estimate to RM4.10 from RM5.40; OSK Research lowered its forecast to RM5.74 from RM6.06.
(Source: Bloomberg Businessweek)