Monday, 17 January 2011

A Brief Look at POS MALAYSIA BHD.

POS Malaysia BHD

Business Description:
Pos Malaysia Berhad (Pos Malaysia) is a Malaysia-based company engaged in the provision of postal and its related services, which include receiving and dispatching of postal articles, postal financials, dealing in philatelic products and sale of postage stamps. The Company operates in three segments:

  1. Mail, which includes the provision of basic mail services for corporate and individual customers and customized solutions; 
  2. Courier and logistic, which includes logistics and courier solutions by sea, air and land to both national and international destinations, and 
  3. Retail, which includes over-the-counter services for payment of bills and certain financial products and services. 
Pos Malaysia operates its courier business through its two business units, namely PosLaju and PSH Express Sdn Bhd. The Company is also engaged in the business of Internet security products, solutions and services and rental income from investment properties.



Current Price (7/1/2011): 3.43
2009 Sales 902,561,000
Employees: 15,780
Market Cap: 1,841,999,180
Shares Outstanding: 537,026,000
Closely Held Shares: 269,900,099





Announcement
Date
Financial
Yr. End
QtrPeriod EndRevenue
RM '000
Profit/Lost
RM'000
EPSAmended
29-Nov-1031-Dec-10330-Sep-10227,44131,3015.83-
24-Aug-1031-Dec-10230-Jun-10229,12228,1015.23-
31-May-1031-Dec-10131-Mar-10231,0791,6250.30-
25-Feb-1031-Dec-09431-Dec-09224,58116,4992.78-


Estimated EPS for 2011 =  2*(5.83 + 5.23) = 22.12 sen
At the price of 3.43, it is trading at a forward PE of = 3.43/0.2212 = 15.5 x

Historical 
5 Yr
PE range 12.8 - 18.9
DY range 4.6% - 3.0%

10 Yr
PE range 14.8 - 23.7
DY range 3.1% - 2.0%

Year      DPS     EPS
2003      1.9       7.8
2004      2.4       8.9
2005      3.6     21.3
2006      7.2     16.5
2007    10.8     20.0
2008    11.1     17.2
2009      7.5     13.3
9M10    0.0      11.36      NTA 1.5300


Capital Changes
2007   Capital Distribution of RM 1.50 per share

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