Selected Bursa counters 1 (Guinness, Petdag, PBB, LPI, Nestle)

Petronas Dagangan seeks to buy assets

Petronas Dagangan seeks to buy assets
Published: 2011/03/31

Petronas Dagangan Bhd, controlled by Malaysia’s state oil and gas company, is seeking to acquire assets to strengthen its retail network, according to CIMB Investment Bank Bhd.

The company is debt-free and has a cash-pile of RM1 billion, Norziana Mohd Inon, an analyst at CIMB, wrote in a report today.

The stock’s price estimate may be upgraded, according to the report.

The stock climbed 1 per cent to RM15.76 at 9:30 a.m. local time, set to close at an all-time high. The shares have gained 35 per cent this year, set to be the best performer on the benchmark FTSE Bursa Malaysia KLCI Index. -- Bloomberg



Read more: Petronas Dagangan seeks to buy assets http://www.btimes.com.my/Current_News/BTIMES/articles/20110331092640/Article/index_html#ixzz1IBXcoDZv

Dividends Track Record of Petronas Dagangan

Company

Particulars

Date announced

Ex-Date

To those registered by

To be paid on

Total for yr so far

Total for prev yr

PETDAG	Interim 30¢+ Sp Interim 10¢	25-Nov-10	09-Dec-10	13-Dec-10	28-Dec-10	40¢	60¢
	Final 30¢+Special 15¢	02-Jul-10	03-Aug-10	05-Aug-10	24-Aug-10	60¢	45¢
	Interim 15¢	23-Nov-09	07-Dec-09	09-Dec-09	23-Dec-09	15¢	45¢
	Final 33¢	03-Jul-09	05-Aug-09	07-Aug-09	26-Aug-09	45¢	45¢
	Interim 12¢	25-Nov-08	10-Dec-08	12-Dec-08	24-Dec-08	12¢	45¢
	Final 33¢	01-Jul-08	01-Aug-08	05-Aug-08	26-Aug-08	45¢	30¢
	Interim 12¢	29-Nov-07	14-Dec-07	18-Dec-07	28-Dec-07	12¢	30¢
	Final 20¢	15-Jun-07	01-Aug-07	03-Aug-07	23-Aug-07	30¢	20¢
	Interim 10¢	30-Nov-06	15-Dec-06	19-Dec-06	28-Dec-06	10¢	20¢
	Final 15¢	29-Jun-06	16-Aug-06	18-Aug-06	08-Sep-06	20¢	20¢
	Interim 5¢	23-Nov-05	12-Dec-05	14-Dec-05	23-Dec-05	5¢	15¢
	Final 10¢	30-Jun-05	17-Aug-05	19-Aug-05	09-Sep-05	15¢	40¢
	Interim 10¢	08-Nov-04	30-Nov-04	02-Dec-04	20-Dec-04	10¢	40¢
	Final 20¢	29-Jun-04	05-Aug-04	09-Aug-04	23-Aug-04	40¢	30¢

Pet Dagangan	Interim 20%	20-Nov-03	10-Dec-03	12-Dec-03	22-Dec-03	20%	30%
	Final 10%	12-Jun-03	22-Jul-03	24-Jul-03	11-Aug-03	30%	40%
	Interim 20%	28-Nov-02	18-Dec-02	20-Dec-02	08-Jan-03	20%	40%

Petronas Dagangan

Capital gain:

1000 shares of Petdag @ $8 per share (Cost $8,000) in 2005 has grown into 

2000 shares of Petdag @ $14 per share (Market value $28,000) in March 2011.

Don't forget to add the GROWING dividends!

3 Aug 2010	0.15 Dividend
7 Dec 2009	0.15 Dividend
5 Aug 2009	0.33 Dividend
10 Dec 2008	0.12 Dividend
1 Aug 2008	0.33 Dividend
14 Dec 2007	0.12 Dividend
12 Dec 2005	0.05 Dividend
17 Aug 2005	0.10 Dividend
30 Nov 2004	0.10 Dividend
5 Aug 2004	0.20 Dividend
10 Dec 2003	0.20 Dividend
23 Jul 2003	0.10 Dividend
22 Jul 2003	0.10 Dividend
* Close price adjusted for dividends and splits.

PetDagang heading for a record quarter. Maintain outperform at RM12.50 with target price RM15.40

PetDagang heading for a record quarter

Written by Financial Daily
Friday, 18 February 2011 11:36

Petronas Dagangan Bhd
(Feb 17, RM12.70)
Maintain outperform at RM12.50 with target price RM15.40:Petronas Dagangan’s (PetDagang) record quarterly net profit of RM236 million for 3QFY11 took 9M bottom line to an all-time high of RM641 million. At 73% of our full-year forecast, it met our expectations as we anticipate a stronger 4Q. However, at 82% of consensus numbers, it beat market expectations. The absence of an interim dividend was expected. We maintain our forecasts and continue to value the stock at our target market PER of 14.5 times, leading to an unchanged target price of RM15.40. 


PetDagang remains an “outperform” based on the potential re-rating catalysts of: 
(i) leadership in the retail and lubricant segments; 
(ii) an overseas venture; and 
(iii) earnings upgrades by the market. 


Its 6.8% dividend yield, the highest in the sector locally and the second highest regionally, adds to the attraction.

Net profit in 3Q rose 26% year-on-year (y-o-y), thanks to an improvement in volume and margin supported by a bigger petrol station network and higher vehicle population. Furthermore, the steady movement of the oil price in October to December helped stabilise the selling prices of products that do not come under the automatic pricing mechanism. These positive factors boosted earnings before interest and tax (Ebit) margin to 5.5%, the highest since 1QFY10’s 5.8%.

The government raised the selling price of RON 95 petrol by 5 sen per litre in December while the price of RON 97 petrol was adjusted upwards twice by 5 sen in November and 15 sen in December. However, the price increases did not have a major impact on sales volume as the increases were not unexpected.

Furthermore, the double hikes for RON 97 affected mostly high-end users with performance cars. An estimated 75% to 80% of motorists use RON 95, which is kept affordable at RM1.90 per litre. RON 97 retails at RM2.50 per litre.

PetDagang is Malaysia’s No 1 petroleum retailer. It is also tops in the commercial and LPG segments. However, the company still trails behind Shell in the retail and lubricant segments. Management targets to wrest the retail leadership position from Shell within three years. In the lubricant segment, where it is a late entrant, PetDagang aims to be the leader in five years.

PetDagang is currently mandated to operate only in Malaysia. However, this may change as management is mulling the possibility of operating outside Malaysia. In addition to the eventual reality of hitting a saturation point, we believe its interest in widening its market exposure may have been triggered by the likelihood of full deregulation of the domestic market. — CIMB Research, Feb 17

This article appeared in The Edge Financial Daily, February 18, 2011.


http://www.theedgemalaysia.com/in-the-financial-daily/181818-petdagang-heading-for-a-record-quarter.html

Petronas Dagangan - A stock par excellence

Zas, a regular visitor to my blog posted in my chat-box.

13 Jan 11, 11:15 PM
zas: petdag buy as a gift to grandchildren
13 Jan 11, 11:14 PM
zas: LPI n Petdag is super longterm stock.Imagine in 10 years if petdag revalue its petrolkios land or possible develop into poperty development!!

-----

Yes, Petdag is a very high quality company. This was what I wrote on this company in one of the many posts on Petdag. 

3.6.2009:
"I like this company. It is a company that I can relate to. Petronas service stations are sprouting all over the place. It has a virtual monopoly supplying energy to certain niche sectors. Its revenue has been good and profitable. It generates a lot of free cash flow. It has been reinvesting into its business regularly, and the return on the equity is a 16.89% which is one of the my investing criteria. Its ROTC is 16.89%, as this company has no borrowings. Its earnings yield is at least 2x that of the risk free FD interest rate. Its dividend has been increasing over the years and I do not anticipate any decrease in future dividend despite the poor economic environment. In fact, it is predicted that the future earnings should continue to show an uptrend, and growth is encouraging with new Petronas stations opening up in new locations funded by self generated profit. The company is debt free.


At 7.90, its PE of 11.86 is at the lower end of its historical 5 year and 10 year PEs. There is safety of capital with a reasonable potential for moderate return (low risk with moderate return) for those with a longer term investing horizon. Just loudly sharing my view, you will need to make your own investing decision based on your personal assessment."

Petdag continues to deliver good profits and dividends.  What was written in 2009 remains applicable, though the PE has expanded since then, in other words, those wishing to buy this stock will have to pay more for each ringgit of its earnings.

A Brief Look at Petronas Dagangan

2007 EPS 0.645 Div 0.30
2008 EPS 0.666 Div 0.45
2009 EPS 0.582 Div 0.45
2010 EPS 0.758 Div 0.60
1H11 EPS 0.408 Div 0.40

Today's Price of PetDag 12.34
Estimated EPS for 2011 = 2 x 0.408 = 0.816
Projected PE = 15.1 x

Historical PE range:
5 Year PE 9.5 - 13.8
10 Year PE 10.5 - 14.7

Given that an interim dividend of RM 0.40 was already paid in the 1H of 2011, it is anticipated that the dividend for this year by PetDag will be generous and exceed the previous years' dividends.

 

Capital Changes:  2005 1/1 Bonus

One Year Performance of Selected Stocks in KLSE (1)

Petronas Dagangan

Date announced 25/11/2010
Quarter 30/09/2010 Qtr 2 FYE 31/03/2011

STOCK PETDAG C0DE  5681 

Price $ 11.1 Curr. ttm-PE 14.64 Curr. DY 5.41%
LFY Div 60.00 DPO ratio 79%
ROE 16.3% PBT Margin 5.2% PAT Margin 3.7%

Rec. qRev 5496313 q-q % chg 1% y-y% chq 7%
Rec qPbt 284250 q-q % chg 3% y-y% chq 3%
Rec. qEps 20.70 q-q % chg 3% y-y% chq 3%
ttm-Eps 75.80 q-q % chg 1% y-y% chq 21%

Using VERY CONSERVATIVE ESTIMATES:
EPS GR 5% Avg.H PE 13.00 Avg. L PE 9.00
Forecast High Pr 12.58 Forecast Low Pr 8.66 Recent Severe Low Pr 8.66
Current price is at Middle 1/3 of valuation zone.

RISK: Upside 38% Downside 62%
One Year Appreciation Potential 3% Avg. yield 7%
Avg. Total Annual Potential Return (over next 5 years) 10%

CPE/SPE 1.33 P/NTA 2.38 NTA 4.66 SPE 11.00 Rational Pr 8.34

The Board has declared an Interim Dividend of 30 sen per share less tax at 25% and Special Interim Dividend of 10 sen per share less tax at 25%.


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 (11/19/2010): 11.20
(Figures in Malaysian Ringgits)
1 Week 2.9% 13 Weeks 1.8%
4 Weeks 9.2% 52 Weeks 27.4%

Petronas Dagangan Berhad Key Data:
Ticker: PETD Country: MALAYSIA
Exchanges: KUL Major Industry: Oil, Gas, Coal & Related Services
Sub Industry: Miscellaneous Oil, Gas & Coal

2010 Sales 20,687,042,000
(Year Ending Jan 2011).
Employees: 1,311
Currency: Malaysian Ringgits Market Cap: 11,126,684,800
Fiscal Yr Ends: March Shares Outstanding: 993,454,000
Share Type: Ordinary Closely Held Shares: 762,064,700


Day's Range: 10.90 - 11.12
52wk Range: 8.50 - 11.90
Volume: 648,500
Avg Vol (3m): 228,805


6 months ended 30/09/2010
Cash Flow Statement


CFO  1,010.770 m
CFI  (151.474 m)
CFF (335.291 m)
Net Increase in Cash & Eq 524.005 m

Petronas Dagangan opens 950th station

Petronas Dagangan opens 950th station
Published: 2010/11/16


PETRONAS Dagangan Bhd (PDB) (5681) has opened its 950th station in the country, reinforcing its leadership in the petroleum retail market.

The latest store, located at Taman Dagang in Ampang, Selangor, was launched by managing director Amir Hamzah Azizan and Nancy Tan, the senior director for development of McDonald's Malaysia.

McDonald's is PDB's long term and pioneering partner.

"The launch of the ... restaurant further establishes Petronas' commitment as the nation's leading multinational company," Amir said in a statement.

In addition to the growing network of Petronas stations across Malaysia, PDB also has the largest network of convenience stores at petrol stations in the nation with more than 600 Kedai Mesra convenience stores opened to-date.

PDB's first station was opened at Taman Tun Dr Ismail, Kuala Lumpur, in 1982. In Selangor alone, it has 207 stations and 194 Kedai Mesras.

Read more: Petronas Dagangan opens 950th station http://www.btimes.com.my/Current_News/BTIMES/articles/pedag/Article/#ixzz15Of7uM9R

Petronas Dagangan

STOCK PETDAG
C0DE  5681 

Price $ 11.9
Curr. PE (ttm-Eps) 15.82
Curr. DY 5.04%

Date  24/08/2010
Qtr Ending  30/06/2010
Qtr 1  FYE  31/03/2011

Rec. qRev 5456472 q-q % chg 1% y-y% chq 14%
Rec qPbt 277223 q-q % chg 20% y-y% chq -2%
Rec. qEps 20.10 q-q % chg 24% y-y% chq -3%
ttm-Eps 75.20 q-q % chg -1% y-y% chq 35%

Using VERY CONSERVATIVE ESTIMATES:
EPS GR 4%
Avg.H PE 12.00
Avg. L PE 10.00

Current price is at Upper 1/3 of valuation zone.
RISK: Upside -45% Downside 145%
One Year Appreciation Potential -2% Avg. yield 6% Avg.
Total Annual Potential Return over next 5 years 5%

CPE/SPE 1.44
P/NTA 2.48
Sig. PE 11
Rational Pr 8.27

Petdag - a GARP investment

At the closing price of 9.90, PetDag was trading at ttm-PE of 13.06 and DY of 4.55%

Historical Data of last 5 Years
EPS GR 24.9%
DPS GR 38%
DY range 4.7% to 3.4%
PE range 9.4 to 12.9

At the present price, it is trading at
PE closer to the upper part of its historical PE range
DY closer to the upper part of its historical DY range



Recent Stock Performance:

1 Week	5.8%		13 Weeks	10.5%
4 Weeks	13.6%		52 Weeks	20.2%

Will the EPS of PetDag for this year be higher than the previous year?

PetDag continues to deliver

Performance at a Glance: Petronas Dagangan

Performance at a Glance:  Petronas Dagangan
https://spreadsheets.google.com/pub?key=0AuRRzs61sKqRdFpXVkdlVVlEWVc3dVg0aWJ6bExnNVE&authkey=CJmRvZsI&hl=en&output=html

Historical Investment Data of Petronas Dagangan (6.6.2010)

Historical Investment Data of  Petronas Dagangan (6.6.2010)
http://spreadsheets.google.com/pub?key=tTnachNyggdEpwkw8WoYpHg&output=html

A quick look at Petdag (25.5.2010)

A quick look at Petdag (25.5.2010)
http://spreadsheets.google.com/pub?key=tJvGV-4QVGoRFu1hPL2GHDA&output=html

A quick look at Petronas Dagangan

Petronas Dagangan Berhad Company

Petronas Dagangan Berhad. The Group's principal activity is marketing petroleum products. Its core businesses include retail, commercial, liquid petroleum gas (LPG) and lubricant. Petroleum products offered include motor gasoline, aviation fuel, kerosene, diesel, fuel oil, bunker fuel, lubricants, liquefied petroleum gas (LPG) and asphalt. Operations are carried out in Malaysia.

Wright Quality Rating: CAB8





A quick look at Petdag
http://spreadsheets.google.com/pub?key=t_SoOyUzvrzDEX3zmYaLvhw&output=html



Current Year Prospects (2009/2010)
The Directors are of the opinion that demand conditions are anticipated to be challenging but market leadership is projected to be maintained with continuous strategic marketing efforts and initiatives.  Profit for the current year is anticipated to be better than the previous financial year.

Will Petdag close above or below RM 9.00 today?

It tested the MR 9.00 resistance on 3 occasions since October 2009.  This morning, it penetrated this level.

Petdag - anticipating it will deliver a higher dividend soon.

PETRONAS DAGANGAN BHD 19/02/2010

Company Name	:	PETRONAS DAGANGAN BHD
Stock Name	:	PETDAG
Date Announced	:	19/02/2010

Financial Year End	:	31/03/2010
Quarter	:	3
Quarterly report for the financial period ended	:	31/12/2009
The figures	:	have not been audited

SUMMARY OF KEY FINANCIAL INFORMATION

31/12/2009

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		31/12/2009	31/12/2008	31/12/2009	31/12/2008
		$$'000	$$'000	$$'000	$$'000
1	Revenue	5,337,713	5,561,380	15,269,549	19,992,622
2	Profit/(loss) before tax	256,924	68,316	814,905	574,361
3	Profit/(loss) for the period	188,133	43,612	595,059	410,169
4	Profit/(loss) attributable to ordinary equity holders of the parent	187,245	42,471	591,827	406,320
5	Basic earnings/(loss) per share (Subunit)	18.80	4.30	59.60	40.90
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	4.4300		4.1900

http://announcements.bursamalaysia.com/EDMS/edmsweb.nsf/ba387758ae37412b482568a300466fb6/5af5967889691a94482576cf00367d7f/$FILE/Announcement%20311209.pdf

Click:
http://spreadsheets.google.com/pub?key=tJWbiwysZm_w2XxUUxHAOeQ&output=html