| KPJ | ||||||
| Year | DPS | EPS | Retained EPS | |||
| 2002 | 2.2 | 2.5 | 0.3 | |||
| 2003 | 1.6 | 4.6 | 3 | |||
| 2004 | 1.4 | 5 | 3.6 | |||
| 2005 | 1.6 | 5.5 | 3.9 | |||
| 2006 | 2.5 | 5.6 | 3.1 | |||
| 2007 | 5.5 | 11.5 | 6 | |||
| 2008 | 4 | 12.4 | 8.4 | |||
| 2009 | 5.2 | 17.6 | 12.4 | |||
| 2010 | 4.9 | 21.2 | 16.3 | |||
| 2011 | 11.2 | 22.5 | P | 11.3 | ||
| Total | 40.1 | 108.4 | 68.3 | |||
| 2002-2011 | ||||||
| EPS increase (sen) | 20.0 | |||||
| DPO | 37% | |||||
| Return on retained earnings | 29% | |||||
| (Figures are in sens) | ||||||
Showing posts with label kpj. Show all posts
Showing posts with label kpj. Show all posts
Thursday 30 August 2012
KPJ - Return on Retained Earnings
Tuesday 7 August 2012
MIDF Research upgrades KPJ to Buy, raises target price to RM6.98
Business & Markets 2012
Written by theedgemalaysia.com
Monday, 30 July 2012 09:10
KUALA LUMPUR (July 30): MIDF Research has upgraded KPJ
HEALTHCARE BHD [] to a Buy at RM5.88 with a revised target price of
RM6.98 (from RM5.10).
In a note Monday, the research house said the new target price was
derived from 25x PE multiple of FY13F EPS, based on peers average PE
multiple.
“The share price of KPJ has seen a strong positive movement over the
last few months, which we believe this has been part of the positive
spillover effect from the dual listing of IHH Healthcare Berhad recently.
“With this catalyst, we expect KPJ to no longer trade at a discount to its
peers, but should fetch the same valuation to its regional peers,” it said.
Saturday 23 June 2012
Investor's Checklist: Health Care
Developing drugs is time-consuming, costly, and there are no guarantees of success. Look for companies with long patent lives and full pipelines to spread the development risk.
Drug companies whose products target large patient populations or significant unmet needs have a better chance of paying off.
Make sure you have a big margin of safety for pharmaceutical companies with mega blockbuster drugs that make up a large percentage of sales. Any unexpected development can send cash flow, and the stock price, reeling.
Unless you have a deep understanding of the technology, don't invest in biotech startups. Payoffs could be large, but the cash flows are so far out and uncertain that it's easier to lose your shirt than win big.
Don't overlook the medical device industry, which is full of firms with wide economic moats.
Cash is king for firms that rely on development (pharmaceuticals, biotechnology, and medical devices). Make sure firms have enough cash or cash from operations to get through the next development cycle.
Keep an eye on the government. Any drastic changes in Medicare/Medicaid spending or regulatory requirements can have a deep impact on pricing throughout the sector.
Managed care organizations that spread risk - whether through a high mix of fee-based business, product diversification, strong underwriting, or minimal government accounts - will provide more sustainable returns.
Ref: The Five Rules for Successful Stock Investing by Pat Dorsey
Read also:
Investor's Checklist: A Guided Tour of the Market...
Read also:
Investor's Checklist: A Guided Tour of the Market...
Wednesday 30 November 2011
KPJ Healthcare Berhad
| Company Name | : | KPJ HEALTHCARE BERHAD |
| Stock Name | : | KPJ |
| Date Announced | : | 29/11/2011 |
| Financial Year End | : | 31/12/2011 |
| Quarter | : | 3 |
| Quarterly report for the financial period ended | : | 30/09/2011 |
| The figures | : | have not been audited |
| Converted attachment : |
| Please attach the full Quarterly Report here: |
 | | |
| Currency | : | Malaysian Ringgit (MYR) |
SUMMARY OF KEY FINANCIAL INFORMATION |
30/09/2011 |
INDIVIDUAL PERIOD | CUMULATIVE PERIOD | ||||
CURRENT YEAR QUARTER | PRECEDING YEAR CORRESPONDING QUARTER | CURRENT YEAR TO DATE | PRECEDING YEAR CORRESPONDING PERIOD | ||
$$'000 | $$'000 | $$'000 | $$'000 | ||
| 1 | Revenue | 476,025 | 436,484 | 1,384,671 | 1,222,768 |
| 2 | Profit/(loss) before tax | 47,903 | 43,111 | 134,681 | 122,457 |
| 3 | Profit/(loss) for the period | 36,753 | 33,259 | 102,129 | 93,098 |
| 4 | Profit/(loss) attributable to ordinary equity holders of the parent | 34,494 | 30,229 | 92,164 | 86,639 |
| 5 | Basic earnings/(loss) per share (Subunit) | 5.66 | 5.65 | 16.89 | 16.20 |
| 6 | Proposed/Declared dividend per share (Subunit) | 2.50 | 3.25 | 9.90 | 6.50 |
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 ($$) | 1.6400 | 1.5400 | ||
Remarks :Market Watch
ttm-EPS 22.01 sen Price RM 4.18 Trailing PE 19x 
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Description:
KPJ Healthcare Berhad operates in the Specialty hospitals exc. psychiatric sector. KPJ Healthcare Berhad is engaged in investment holding and provision of management services to subsidiary companies. The Company operates specialist hospitals. Its support services consist of provision of management services and pathology and laboratory services, marketing and distribution of pharmaceutical, medical and surgical products and operating a private nursing college. As of December 31, 2010, it operated more than 20 hospitals in Malaysia and two in Indonesia. During the year ended December 31, 2010, two new hospitals, namely Rumah Sakit Bumi Serpong Damai in Jakarta, Indonesia and the KPJ Tawakkal Specialist Hospital in Kuala Lumpur commenced operations. On June 25, 2010, it acquired 51% interest in Sabah Medical Centre (SMC). On September 23, 2010, it completed the acquisition of a 51% interest in Jeta Gardens Waterford Trust (JGWT). On January 18, 2011, it acquired Sibu Medical Centre Corporation Sdn Bhd (SMCC) and Sibu geriatric Health & nursing Centre Sdn Bhd (SgHnC).
Stock Data: Recent Stock Performance:
Current Price (11/25/2011): 4.18
(Figures in Malaysian Ringgits)
1 Week -1.9% 13 Weeks -1.2%
4 Weeks -3.5% 52 Weeks 12.1%
Market Cap: 2,370,018,200
Shares Outstanding: 566,990,000
Closely Held Shares: 6,105,500
Saturday 18 December 2010
Johor Corp seeks to refinance the RM3.6bil loan obligation that will become due in the middle of 2012.
Saturday December 18, 2010
JCorp seeks to remove Muhammad Ali
By RISEN JAYASEELAN
risen@thestar.com.my
PETALING JAYA: Johor Corp (JCorp) is seeking to remove Tan Sri Muhammad Ali Hashim, its previous head for 18 years, from the boards of three listed companies it has direct stakes in.
The move seems to confirm speculation that Muhammad Ali, who had suddenly resigned as JCorp's CEO in July, is no longer in the good books of the powers that be in the state of Johor.
JCorp has called for EGMs at Kulim (M) Bhd, KPJ Healthcare Bhd and Damansara Realty Bhd (DRealty) for this purpose.
The removal of Muhammad Ali will be via ordinary resolutions at each of these companies, which means that a simple majority of shareholder votes would achieve the desired result.
While JCorp controls more than 50% of the equity of Kulim and DRealty, it owns only 237.8 million shares in KPJ Healthcare, according to the latest shareholding changes filed with Bursa Malaysia. And according to Bloomberg data, this number of shares amounts to only a 42.6% stake in KPJ.
Hence it appears that for Muhammad Ali to be ousted from KPJ's board, it is going to have to acquire more shares in KPJ or seek the support of other shareholders.
JCorp has been in the news recently after three bids had been presented to Kulim for its controlling stake in QSR Brands Bhd, which in turn is the parent company of KFC Holdings (M) Bhd.
After some delay, JCorp, via Kulim, finally said it was not selling QSR or its subsidiaries, noting that these were key assets in the group and that more value could be extracted from them.
That raised the question: if JCorp was not selling, how come the bids came in from such established names as private equity giants The Carlyle Group and CVC Capital?
It had been reported that insiders said Muhammad Ali could be responsible for putting QSR up for sale. Muhammad Ali is chairman of Kulim, QSR and KFC as well as of KPJ Healthcare and DRealty.
It has also been reported that Muhammad Ali's sudden departure from JCorp had to do with the mountain of debt at JCorp, which was built up via ambitious acquisitions of companies during his tenure as CEO, something that Muhammad Ali has denied in the past, noting that the group has sufficient assets that can be sold to repay off the debt.
Muhammad Ali's tenure at JCorp had attracted both praise and criticism. He had made JCorp one of the most dynamic state investment arms but detractors say he ruled the group like his own fiefdom and expanded the group too fast, accumulating too much debt in the process.
A strong advocate of what he calls business jihad, Muhammad Ali has said he believes business is a good way to help people as it can create wealth and jobs and eliminate poverty.
JCorp recently hired Kamaruzzaman Abu Kassim, its head of finance, as its new CEO.
Some insiders reckon that the action to remove Muhammad Ali signals a resolve by Kamaruzzaman to usher in the new leadership at the group in a post Muhammad Ali era.
It's actually not out of the ordinary. Muhammad Ali had stepped down as JCorp CEO some months ago although he has not relinquished his chairmanship and directorships at the JCorp-controlled companies. This is a matter of process more than anything else, which would likely lead to JCorp putting in a replacement for him as soon as the removal is completed, said one insider.
Kamaruzzaman recently told the media that JCorp would not be selling any of its assets to settle its loan obligations. Instead, it would seek to refinance the RM3.6bil loan obligation that will become due in the middle of 2012.
All three EGMs for Muhammad Ali's removal will be held next month, specifically on Jan 17 for Kulim, Jan 21 for DRealty and Jan 26 for KPJ Healthcare.
http://biz.thestar.com.my/news/story.asp?file=/2010/12/18/business/7647835&sec=business
JCorp seeks to remove Muhammad Ali
By RISEN JAYASEELAN
risen@thestar.com.my
PETALING JAYA: Johor Corp (JCorp) is seeking to remove Tan Sri Muhammad Ali Hashim, its previous head for 18 years, from the boards of three listed companies it has direct stakes in.
The move seems to confirm speculation that Muhammad Ali, who had suddenly resigned as JCorp's CEO in July, is no longer in the good books of the powers that be in the state of Johor.
JCorp has called for EGMs at Kulim (M) Bhd, KPJ Healthcare Bhd and Damansara Realty Bhd (DRealty) for this purpose.
The removal of Muhammad Ali will be via ordinary resolutions at each of these companies, which means that a simple majority of shareholder votes would achieve the desired result.
While JCorp controls more than 50% of the equity of Kulim and DRealty, it owns only 237.8 million shares in KPJ Healthcare, according to the latest shareholding changes filed with Bursa Malaysia. And according to Bloomberg data, this number of shares amounts to only a 42.6% stake in KPJ.
Hence it appears that for Muhammad Ali to be ousted from KPJ's board, it is going to have to acquire more shares in KPJ or seek the support of other shareholders.
JCorp has been in the news recently after three bids had been presented to Kulim for its controlling stake in QSR Brands Bhd, which in turn is the parent company of KFC Holdings (M) Bhd.
After some delay, JCorp, via Kulim, finally said it was not selling QSR or its subsidiaries, noting that these were key assets in the group and that more value could be extracted from them.
That raised the question: if JCorp was not selling, how come the bids came in from such established names as private equity giants The Carlyle Group and CVC Capital?
It had been reported that insiders said Muhammad Ali could be responsible for putting QSR up for sale. Muhammad Ali is chairman of Kulim, QSR and KFC as well as of KPJ Healthcare and DRealty.
It has also been reported that Muhammad Ali's sudden departure from JCorp had to do with the mountain of debt at JCorp, which was built up via ambitious acquisitions of companies during his tenure as CEO, something that Muhammad Ali has denied in the past, noting that the group has sufficient assets that can be sold to repay off the debt.
Muhammad Ali's tenure at JCorp had attracted both praise and criticism. He had made JCorp one of the most dynamic state investment arms but detractors say he ruled the group like his own fiefdom and expanded the group too fast, accumulating too much debt in the process.
A strong advocate of what he calls business jihad, Muhammad Ali has said he believes business is a good way to help people as it can create wealth and jobs and eliminate poverty.
JCorp recently hired Kamaruzzaman Abu Kassim, its head of finance, as its new CEO.
Some insiders reckon that the action to remove Muhammad Ali signals a resolve by Kamaruzzaman to usher in the new leadership at the group in a post Muhammad Ali era.
It's actually not out of the ordinary. Muhammad Ali had stepped down as JCorp CEO some months ago although he has not relinquished his chairmanship and directorships at the JCorp-controlled companies. This is a matter of process more than anything else, which would likely lead to JCorp putting in a replacement for him as soon as the removal is completed, said one insider.
Kamaruzzaman recently told the media that JCorp would not be selling any of its assets to settle its loan obligations. Instead, it would seek to refinance the RM3.6bil loan obligation that will become due in the middle of 2012.
All three EGMs for Muhammad Ali's removal will be held next month, specifically on Jan 17 for Kulim, Jan 21 for DRealty and Jan 26 for KPJ Healthcare.
http://biz.thestar.com.my/news/story.asp?file=/2010/12/18/business/7647835&sec=business
Sunday 21 November 2010
KPJ Healthcare Berhad
Date announced 30/08/2010
Quarter 30/06/2010 Qtr 2 FYE 31/12/2010
STOCK KPJ C0DE 5878
Price $ 3.73 Curr. ttm-PE 17.50 Curr. DY 2.14%
LFY Div 8.00 DPO ratio 41%
ROE 16.4% PBT Margin 10.1% PAT Margin 7.1%
Rec. qRev 410237 q-q % chg 9% y-y% chq 11%
Rec qPbt 41305 q-q % chg 9% y-y% chq 15%
Rec. qEps 5.54 q-q % chg 7% y-y% chq 16%
ttm-Eps 21.32 q-q % chg 4% y-y% chq 32%
Using VERY CONSERVATIVE ESTIMATES:
EPS GR 5% Avg.H PE 12.00 Avg. L PE 9.00
Forecast High Pr 3.26 Forecast Low Pr 2.67 Recent Severe Low Pr 2.67
Current price is at Upper 1/3 of valuation zone.
RISK: Upside -78% Downside 178%
One Year Appreciation Potential -2% Avg. yield 3%
Avg. Total Annual Potential Return (over next 5 years) 0%
CPE/SPE 1.67 P/NTA 2.87 NTA 1.30 SPE 10.50 Rational Pr 2.24
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
Wednesday 23 June 2010
KPJ Healthcare sees brighter prospects ahead
KPJ Healthcare sees brighter prospects ahead
Tags: Brokers Call | KPJ Healthcare Bhd | RHB Research
Written by Financial Daily
Friday, 18 June 2010 10:36
KPJ Healthcare Bhd
(June 17, RM3.34)
Maintain outperform at RM3.29 with higher fair value of RM4.25 (from RM3.50): For FY09, KPJ recorded a revenue growth of 14.9% year-on-year (y-o-y) largely due to higher contribution from all of its business segments.
Moving forward, we believe KPJ’s revenue growth drivers include: the opening of at least two new hospitals per annum; expansion of its existing hospitals; enhancing its presence in medical tourism; and higher utilisation rate per patient.
We understand that KPJ is investing RM200 million to build three new hospitals, purchasing of new medical equipment and expanding its existing hospitals nationwide this year.
The construction works for its three new hospitals which are located in Bandar Baru Klang, Pasir Gudang and Muar have already started and are due for completion by end of 2011.
We believe this is in line with the management’s targets to open at least two new hospitals per annum either through greenfield projects or acquisition of established hospitals which would likely be in East Malaysia, the East Coast or Iskandar region.
In FY09, over 15,000 foreigners received treatment at its hospitals and in the 1QFY10, KPJ received more than 5,000 foreigners of which 2,800 were Indonesians.
Although KPJ’s focus is on positioning itself as a community healthcare provider, the company realises that there is sizeable growth potential in medical tourism.
However, management mentioned that any significant contribution from medical tourism would only come in three to five years. Currently, medical tourism accounts for less than 10% of total group revenue.
We have revised up our FY10-12 earnings forecasts by 9.7%-14.3% largely to reflect the upward change in our revenue assumptions, and lower effective tax rate and MI (minority interest) assumptions.
The risks to KPJ’s earnings include lower-than-expected patient numbers which could be due to slower-than-expected economic recovery and serious disease outbreaks (such as SARS or swine flu) in Malaysia as well as slower-than-expected turnaround in loss-making hospitals.
Besides the earnings revision above, our indicative fair value has been raised to RM4.25 (from RM3.50) based on target FY11 PER of 16 times (10% discount to regional peers’ average) as we roll forward our valuation year (from FY10).
We believe the M&A (merger and acquisition) activity in the healthcare sector recently supports our view that there is significant growth potential for the sector in the region.
We continue to like KPJ for its leading position and its expansion plans in Malaysia’s growing healthcare market. We reiterate our outperform call on the stock. — RHB Research, June 17
This article appeared in The Edge Financial Daily, June 18, 2010.
Tags: Brokers Call | KPJ Healthcare Bhd | RHB Research
Written by Financial Daily
Friday, 18 June 2010 10:36
KPJ Healthcare Bhd
(June 17, RM3.34)
Maintain outperform at RM3.29 with higher fair value of RM4.25 (from RM3.50): For FY09, KPJ recorded a revenue growth of 14.9% year-on-year (y-o-y) largely due to higher contribution from all of its business segments.
Moving forward, we believe KPJ’s revenue growth drivers include: the opening of at least two new hospitals per annum; expansion of its existing hospitals; enhancing its presence in medical tourism; and higher utilisation rate per patient.
We understand that KPJ is investing RM200 million to build three new hospitals, purchasing of new medical equipment and expanding its existing hospitals nationwide this year.
The construction works for its three new hospitals which are located in Bandar Baru Klang, Pasir Gudang and Muar have already started and are due for completion by end of 2011.
We believe this is in line with the management’s targets to open at least two new hospitals per annum either through greenfield projects or acquisition of established hospitals which would likely be in East Malaysia, the East Coast or Iskandar region.
In FY09, over 15,000 foreigners received treatment at its hospitals and in the 1QFY10, KPJ received more than 5,000 foreigners of which 2,800 were Indonesians.
Although KPJ’s focus is on positioning itself as a community healthcare provider, the company realises that there is sizeable growth potential in medical tourism.
However, management mentioned that any significant contribution from medical tourism would only come in three to five years. Currently, medical tourism accounts for less than 10% of total group revenue.
We have revised up our FY10-12 earnings forecasts by 9.7%-14.3% largely to reflect the upward change in our revenue assumptions, and lower effective tax rate and MI (minority interest) assumptions.
The risks to KPJ’s earnings include lower-than-expected patient numbers which could be due to slower-than-expected economic recovery and serious disease outbreaks (such as SARS or swine flu) in Malaysia as well as slower-than-expected turnaround in loss-making hospitals.
Besides the earnings revision above, our indicative fair value has been raised to RM4.25 (from RM3.50) based on target FY11 PER of 16 times (10% discount to regional peers’ average) as we roll forward our valuation year (from FY10).
We believe the M&A (merger and acquisition) activity in the healthcare sector recently supports our view that there is significant growth potential for the sector in the region.
We continue to like KPJ for its leading position and its expansion plans in Malaysia’s growing healthcare market. We reiterate our outperform call on the stock. — RHB Research, June 17
This article appeared in The Edge Financial Daily, June 18, 2010.
Friday 30 April 2010
A quick look at KPJ (30.4.2010)
KPJ Healthcare Berhad Company
Business Description:
KPJ Healthcare Berhad(KPJ). The Group's principal activity is the operation of specialist hospitals. Other activities include investment holding, provision of management services, project management and engineering maintenance services for specialist hospital, pathology and laboratory services, marketing and distribution of pharmaceutical, medical and consumer healthcare products and provision of information technology related services, operation of private nursing college and rental of software. It operates in Malaysia ,Singapore and Indonesia.
Wright Quality Rating: CBNN
A quick look at KPJ (30.4.2010)
http://spreadsheets.google.com/pub?key=topP51LjhiJSMZi6ki0eWQA&output=html
Business Description:
KPJ Healthcare Berhad(KPJ). The Group's principal activity is the operation of specialist hospitals. Other activities include investment holding, provision of management services, project management and engineering maintenance services for specialist hospital, pathology and laboratory services, marketing and distribution of pharmaceutical, medical and consumer healthcare products and provision of information technology related services, operation of private nursing college and rental of software. It operates in Malaysia ,Singapore and Indonesia.
Wright Quality Rating: CBNN
A quick look at KPJ (30.4.2010)
http://spreadsheets.google.com/pub?key=topP51LjhiJSMZi6ki0eWQA&output=html
Monday 15 March 2010
India’s Fortis Healthcare to acquire 24% stake in Parkway Holdings for $959m
India’s Fortis Healthcare to acquire 24% stake in Parkway Holdings for $959m
WRITTEN BY THE EDGE
THURSDAY, 11 MARCH 2010 18:28
Fortis Healthcare, India’s fastest-growing healthcare company, has announced the acquisition of a 23.9% strategic stake in healthcare service provider Parkway Holdings from TPG Capital (formerly Texas Pacific Group).
Parkway has a network of 16 hospitals having 3,400 beds spread over six countries, including India. The deal size is estimated to be about US$685.3 million ($959.4 million).
Fortis has entered into a definitive agreement with TPG Capital, one of the world’s leading private investment firms, to acquire its 23.9% stake in Parkway.
Fortis intends to seek four seats on the board of directors of Parkway and also to nominate Malvinder Mohan Singh (current Chairman of Fortis Healthcare) as the Chairman of the Board of Directors of Parkway.
http://www.theedgesingapore.com/the-daily-edge/business/13410-indias-fortis-healthcare-to-acquire-24-stake-in-parkway-holdings-for-959m.html
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