A Brief Look at Poh Kong

Poh Kong Holdings Berhad Company

Business Description:
Poh Kong Holdings Berhad is a Malaysia-based company engaged in investment holding and the provision of management services. Through its subsidiaries, the Company operates in three segments:

1. trading, which is engaged as suppliers and retailers of jewelries, precious stones and gold ornaments; 
2. manufacturing, which is engaged as a manufacturer and dealers of jewelries, precious stones and gold ornaments, and 
3. others, which includes investment holding. 

Its products are divided into two main categories: viz gold and gemset jewelries. The Company's jewelry products include Koleksi Anggun, Tranz collection, Angel collection, Diamond collection, Disney collection, Festival collection, Romance collection, Gold Bar collection and Impressionism. On October 14, 2009, through Poh Kong International Sdn Bhd, a wholly owned subsidiary, the Company had disposed off its equity interest in its subsidiary, Poh Kong Diamond Industry Limited. The Company's ultimate holding company is Poh Kong Sdn Bhd.

Current Price (7/1/2011): 0.51
2010 Sales 561,243,734
Employees: 1,047
Market Cap: 209,279,520
Shares Outstanding: 410,352,000
Closely Held Shares: N/A

2004 DPS 1.0 EPS 8.5
2005 DPS 1.2 EPS 2.9
2006 DPS 1.2 EPS 5.3
2007 DPS 1.3 EPS 4.5
2008 DPS 1.4 EPS 7.0
2009 DPS 1.4 EPS 6.9
2010 DPS 1.4 EPS 7.7
1Q11 DPS - EPS 2.65

Recent Financial Results

Announcement Date		Financial Yr. End		Qtr	Period End		Revenue RM '000		Profit/Lost RM'000		EPS		Amended
06-Dec-10		31-Jul-11		1	31-Oct-10		169,451		10,885		2.65		-
28-Sep-10		31-Jul-10		4	31-Jul-10		131,906		7,789		1.90		-
28-Jun-10		31-Jul-10		3	30-Apr-10		132,737		6,470		1.58		-
29-Mar-10		31-Jul-10		2	31-Jan-10		144,207		7,494		1.83		-

Estimated EPS for 2011 = ttm-EPS = 7.96 sen
Projected PE for 2011 = 51 / 7.96 = 6.4 x

Historical
5 Yr
PE range 5.0 - 9.5
DY range 4.5% - 2.5%

10 Yr
PE range 5.6 - 10.8
DY range 4.2% - 2.3%

Capital Changes & Dilution

2008 3/4 Bonus. 1 to 2 Share Split