A Brief Look at Hartalega

Hartalega Holdings Bhd

Business Description:
Hartalega Holdings Berhad is a Malaysia-based investment holding company. The Company is engaged in the manufacture and sale of latex gloves. The Company's products include latex gloves and nitrile gloves. As of March 31, 2010, the Company's subsidiaries included Hartalega Sdn Bhd, Pharmatex (Australia) Pty Ltd, Pharmatex USA, Incorporated and Sentinel Engineering (M) Sdn Bhd. The Company's manufacturing facility is located in Selangor Darul Ehsan, Malaysia.

Current Price (7/1/2011): 5.73
2010 Sales 571,892,668
Employees: N/A
Market Cap: 2,082,734,670
Shares Outstanding: 363,479,000
Closely Held Shares: N/A

Recent Financial Results

Announcement Date		Financial Yr. End		Qtr	Period End		Revenue RM '000		Profit/Lost RM'000		EPS		Amended
09-Nov-10		31-Mar-11		2	30-Sep-10		184,312		47,111		12.96		-
10-Aug-10		31-Mar-11		1	30-Jun-10		169,958		41,450		11.40#		-
11-May-10		31-Mar-10		4	31-Mar-10		163,385		46,455		12.78#		-
28-Jan-10		31-Mar-10		3	31-Dec-09		148,599		37,252		10.25#		-

# adjusted for 2010  1/2 Bonus


Estimated EPS for 2011 = 2*(12.96+11.40) = 48.72 sen
At price of 5.73, its prospective PE for 2011 = 5.73 / 0.4872 = 11.8 x

Year     DPS     EPS
2008     3.3        9.8
2009     8.0      21.5
2010    13.3     40.2
1H11    4.0      24.37   NTA  1.1617
  

Historical
5 Yr
PE range 8.0 - 15.8
DY range 4.8% - 2.2%

Capital Changes

2007   1 to 2 Share Split

2010  1/2 Bonus