British analyst fined £50,000 for misleading message
January 13, 2011
LONDON, Jan 13 — A former investment analyst has been fined £50,000 (RM250,000) for sending misleading information via instant messages, pushing shares in a property company up sharply, Britain’s market regulator said today.
Christopher Gower, at the time a senior research analyst at MF Global Securities, sent messages to 14 clients, a Bloomberg reporter and MF Global salesmen implying he had obtained insider information about the REIT status of Enterprise Inns.
What Gower learned during a meeting with the head of Punch Taverns was, in fact, already in the public domain and portraying it as insider information misled the market, the Financial Services Authority said.
Starting his instant message “Hot off the press”, Gower said he had just had a meeting with the chief executive of Punch Taverns. “They have heard from HM Revenue & Customs that it is highly likely Enterprise Inns has been granted REIT status and ETI are due to announce this on May 13 at interims,” he went on to say in the message on May 7, 2008.
“Expect ETI to bounce, was up 10 per cent on previous HMRC news, but then fall back as (the market) realises it will take time to implement.... more on my meeting to follow,” he said.
Enterprise Inns shares rose 4.45 per cent after Gower’s messages were sent, amid high volume.
While the FSA accepted 34-year-old Gower did not intend to give the impression he had inside information, it said he had not observed proper standards of conduct.
“There is no excuse for a senior retail analyst to be so careless with messages that could have such an impact on the market,” Margaret Cole, the FSA’s managing director of enforcement and financial crime said.
“Gower’s dissemination of inaccurate information contributed to a large increase in the volume of shares traded and a disorderly market in ETI shares.”
MF Global was not available to comment. — Reuters
Keep INVESTING Simple and Safe (KISS) ****Investment Philosophy, Strategy and various Valuation Methods**** The same forces that bring risk into investing in the stock market also make possible the large gains many investors enjoy. It’s true that the fluctuations in the market make for losses as well as gains but if you have a proven strategy and stick with it over the long term you will be a winner!****Warren Buffett: Rule No. 1 - Never lose money. Rule No. 2 - Never forget Rule No. 1.
Saturday 15 January 2011
Sometimes, investors are puzzled why the EPF trades regularly between buy and sell.
Sometimes, investors are puzzled why the EPF trades regularly between buy and sell.
The presumably unclear direction of trades is because the provident fund also appoints external fund managers (EFMs) who have the full discretion to buy or sell. As such, sometimes the EPF could be buying a stock but their EFMs could be selling the same stock on the same day.
In certain cases, one EFM buys but another EFM could be selling at the same time or a few days later. Hence, the disclosure by the EPF is a combination of trades by its internal fund managers as well as that of EFMs.
Due to the difference in opinion between the EPF and its EFMs, there is no clear signal of the direction of this powerful domestic fund.
The fund could be big, but they are not "united" and they are in fact competing with each other. This is also a way to generate liquidity in the market. .
Even if the fund is buying a particular stock persistently, we observe that the stock price may not seem to rise substantially.
This may be linked to the way the orders are placed - that is, they tend to buy lower after a completed trade.
Read here.
The presumably unclear direction of trades is because the provident fund also appoints external fund managers (EFMs) who have the full discretion to buy or sell. As such, sometimes the EPF could be buying a stock but their EFMs could be selling the same stock on the same day.
In certain cases, one EFM buys but another EFM could be selling at the same time or a few days later. Hence, the disclosure by the EPF is a combination of trades by its internal fund managers as well as that of EFMs.
Due to the difference in opinion between the EPF and its EFMs, there is no clear signal of the direction of this powerful domestic fund.
The fund could be big, but they are not "united" and they are in fact competing with each other. This is also a way to generate liquidity in the market. .
Even if the fund is buying a particular stock persistently, we observe that the stock price may not seem to rise substantially.
This may be linked to the way the orders are placed - that is, they tend to buy lower after a completed trade.
Read here.
A Brief Look at Century Logistics Holdings Berhad
Century Logistics Holdings Berhad
Business Description:
Century Logistics Holdings Berhad is a Malaysia-based investment holding company. The Company, through its subsidiaries, is engaged in the provision of integrated logistics activities. It provides freight forwarding, transportation, warehousing and other ancillary services. The Company is involved in the supply chain management and ship husbandry for fuel oil traders, including the services for floating storage units (FSU). In addition, it offers a range of procurement and assembly services for various electrical and electronic products. The Company offers original equipment manufacturing (OEM) solutions to locally-based electrical and electronic products manufacturers and traders. Its direct subsidiaries are Century Total Logistics Sdn. Bhd., Century Logistics Sdn. Bhd., Storewell (M) Sdn. Bhd., Century Logistics (Sarawak) Sdn. Bhd., Century Global Logistics Sdn. Bhd., Century Logistics (Johore) Sdn. Bhd., Century Advance Technology Sdn. Bhd. and Century Forwarding Agency Sdn. Bhd.
Current Price (7/1/2011): 1.85
2009 Sales 210,950,000
Employees: 600
Market Cap: 151,709,250
Shares Outstanding: 82,005,000
Closely Held Shares: 41,754,019
NTA 2.14 (3Q10)
ttm-EPS 36.85 sen
ttm-PE 5.0 x
Business Description:
Century Logistics Holdings Berhad is a Malaysia-based investment holding company. The Company, through its subsidiaries, is engaged in the provision of integrated logistics activities. It provides freight forwarding, transportation, warehousing and other ancillary services. The Company is involved in the supply chain management and ship husbandry for fuel oil traders, including the services for floating storage units (FSU). In addition, it offers a range of procurement and assembly services for various electrical and electronic products. The Company offers original equipment manufacturing (OEM) solutions to locally-based electrical and electronic products manufacturers and traders. Its direct subsidiaries are Century Total Logistics Sdn. Bhd., Century Logistics Sdn. Bhd., Storewell (M) Sdn. Bhd., Century Logistics (Sarawak) Sdn. Bhd., Century Global Logistics Sdn. Bhd., Century Logistics (Johore) Sdn. Bhd., Century Advance Technology Sdn. Bhd. and Century Forwarding Agency Sdn. Bhd.
2009 Sales 210,950,000
Employees: 600
Market Cap: 151,709,250
Shares Outstanding: 82,005,000
Closely Held Shares: 41,754,019
Recent Financial Results
Announcement Date | Financial Yr. End | Qtr | Period End | Revenue RM '000 | Profit/Lost RM'000 | EPS | Amended | ||||||
11-Nov-10 | 31-Dec-10 | 3 | 30-Sep-10 | 71,571 | 8,025 | 10.27 | - | ||||||
12-Aug-10 | 31-Dec-10 | 2 | 30-Jun-10 | 75,307 | 7,574 | 9.51 | - | ||||||
20-May-10 | 31-Dec-10 | 1 | 31-Mar-10 | 59,828 | 6,536 | 8.29 | - | ||||||
25-Feb-10 | 31-Dec-09 | 4 | 31-Dec-09 | 57,090 | 7,076 | 8.78 | - |
NTA 2.14 (3Q10)
ttm-EPS 36.85 sen
ttm-PE 5.0 x
Capital changes
2005 1/2 Warrant @ RM 0.10
2009 1/10 Treasury Share Distribution
2010 1/2 Warrant @ RM 0.05
Warrant-WB: 40.42 m Units, Maturity 27/01/2013, Ex Pr RM 1.00
Comment:
Capital Intensive
Highly Competitive industry
Small "moat"
There are better business to invest in.
Friday 14 January 2011
A Brief Look at Parkson Holdings Berhad
Parkson Holdings Berhad
Business Description:
Parkson Holdings Berhad is a Malaysia-based investment holding company. The Company, along with its subsidiaries, is principally engaged in the operations of the Parkson brand department stores. The businesses are located in the People's Republic of China, Malaysia and Vietnam. The Company has a chain of 85 Parkson department stores, with 35 in Malaysia, 44 in China and 6 in Vietnam. The Company's subsidiaries include East Crest International Limited, Parkson Vietnam Investment Holdings Co Ltd, Parkson Properties Holdings Co Ltd, Prime Yield Holdings Limited, PRG Corporation Limited, Parkson Venture Pte Ltd, Serbadagang Holdings Sdn Bhd and Sea Coral Limited.
Current Price (1/7/2011): 5.90
2010 Sales 2,722,256,000
Employees: 6,700
Market Cap: 6,517,000,760
Shares Outstanding: 1,104,576,400
Closely Held Shares: 851,255,339
Estimated EPS for 2011 = ttm-EPS = 28.79 sen
At Current Price of 5.90, its projected PE for 2011 = 5.90 / 0.2879 = 20.5 x
Historical
5 Yr
PE range 13.3 - 28.2
DY range 1.8% - 0.7%
10 Yr
PE range 8.3 - 18.5
DY range 1.2% -0.5%
Business Description:
Parkson Holdings Berhad is a Malaysia-based investment holding company. The Company, along with its subsidiaries, is principally engaged in the operations of the Parkson brand department stores. The businesses are located in the People's Republic of China, Malaysia and Vietnam. The Company has a chain of 85 Parkson department stores, with 35 in Malaysia, 44 in China and 6 in Vietnam. The Company's subsidiaries include East Crest International Limited, Parkson Vietnam Investment Holdings Co Ltd, Parkson Properties Holdings Co Ltd, Prime Yield Holdings Limited, PRG Corporation Limited, Parkson Venture Pte Ltd, Serbadagang Holdings Sdn Bhd and Sea Coral Limited.
Year DPS EPS
2003 0.4 -50.6
2004 0.4 42.6
2005 2.8 79.7
2006 0.4 -94.5
2007 0.0 -8.9
2008 14.9 25.3
2009 5.0 25.4
2010 6.0 27.89
1Q11 10.0 7.28 NTA 1.97
Recent Financial Results
Announcement Date | Financial Yr. End | Qtr | Period End | Revenue RM '000 | Profit/Lost RM'000 | EPS | Amended | ||||||
15-Nov-10 | 30-Jun-11 | 1 | 30-Sep-10 | 656,485 | 130,350 | 7.28 | - | ||||||
24-Aug-10 | 30-Jun-10 | 4 | 30-Jun-10 | 620,370 | 113,823 | 5.46 | - | ||||||
24-May-10 | 30-Jun-10 | 3 | 31-Mar-10 | 753,897 | 154,795 | 8.15 | - | ||||||
23-Feb-10 | 30-Jun-10 | 2 | 31-Dec-09 | 709,319 | 145,847 | 7.90 | - |
Current Price (1/7/2011): 5.90
2010 Sales 2,722,256,000
Employees: 6,700
Market Cap: 6,517,000,760
Shares Outstanding: 1,104,576,400
Closely Held Shares: 851,255,339
Estimated EPS for 2011 = ttm-EPS = 28.79 sen
At Current Price of 5.90, its projected PE for 2011 = 5.90 / 0.2879 = 20.5 x
Historical
5 Yr
PE range 13.3 - 28.2
DY range 1.8% - 0.7%
10 Yr
PE range 8.3 - 18.5
DY range 1.2% -0.5%
Capital changes
2007 4 to 1 Capital Reduction
2009 1/100 Treasury Share Distribution
A Brief Look at Dutch Lady Milk Industries Bhd.
Dutch Lady Milk Industries Berhad
Business Description:
Dutch Lady Milk Industries Berhad is a Malaysia-based manufacturing company. The Company is engaged in the manufacture and distribution of sweetened condensed milk, milk powder, dairy products and fruit juice drinks in the home market and for export. It manufactures and sells a range of dairy products and fruit juices for the home and export market, such as infant formula, growing-up milk, powdered milk, condensed milk, ultra high temperature (UHT) milk, sterilized milk, pasteurized milk, cultured milk, yoghurt and fruit juice drinks. The Company operates under the brands Dutch Lady, Frisolac, Friso, Completa, Omela and Joy. The immediate and ultimate holding companies during the year ended December 31, 2009, were Frint Beheer IV BV and Royal FrieslandCampina NV, respectively.
Employees: 570
Market Cap: 1,120,000,000
Shares Outstanding: 64,000,000
Closely Held Shares: 46,418,300
Estimated EPS for 2010 = ttm-EPS = 107.98 sen
Projected PE for 2010 = 17.50 / 1.0798 = 16.2 x
Historical
5 Yr
PE range 10.7 - 17.8
DY range 7.0% - 4.2%
10 Yr
PE range 12.3 - 20.1
DY range 7.0% - 4.5%
Business Description:
Dutch Lady Milk Industries Berhad is a Malaysia-based manufacturing company. The Company is engaged in the manufacture and distribution of sweetened condensed milk, milk powder, dairy products and fruit juice drinks in the home market and for export. It manufactures and sells a range of dairy products and fruit juices for the home and export market, such as infant formula, growing-up milk, powdered milk, condensed milk, ultra high temperature (UHT) milk, sterilized milk, pasteurized milk, cultured milk, yoghurt and fruit juice drinks. The Company operates under the brands Dutch Lady, Frisolac, Friso, Completa, Omela and Joy. The immediate and ultimate holding companies during the year ended December 31, 2009, were Frint Beheer IV BV and Royal FrieslandCampina NV, respectively.
2002 DPS 5.8 EPS 23.7
2003 DPS 12.8 EPS 24.2
2004 DPS 56.0 EPS 26.6
2005 DPS 63.2 EPS 42.4
2006 DPS 63.2 EPS 67.3
2007 DPS 63.2 EPS 73.8
2008 DPS 42.1 EPS 66.6
2009 DPS 65.6 EPS 94.4
9M10 DPS 35.0 EPS 82.89 NTA 3.27
Recent Financial Results
Announcement Date | Financial Yr. End | Qtr | Period End | Revenue RM '000 | Profit/Lost RM'000 | EPS | Amended | ||||||
29-Nov-10 | 31-Dec-10 | 3 | 30-Sep-10 | 186,715 | 13,322 | 20.82 | - | ||||||
18-Aug-10 | 31-Dec-10 | 2 | 30-Jun-10 | 188,929 | 18,918 | 29.56 | - | ||||||
18-May-10 | 31-Dec-10 | 1 | 31-Mar-10 | 173,111 | 20,812 | 32.52 | - | ||||||
18-Feb-10 | 31-Dec-09 | 4 | 31-Dec-09 | 169,521 | 16,048 | 25.08 | - |
Current Price (1/7/2011): 17.50
2009 Sales 691,847,000Employees: 570
Market Cap: 1,120,000,000
Shares Outstanding: 64,000,000
Closely Held Shares: 46,418,300
Estimated EPS for 2010 = ttm-EPS = 107.98 sen
Projected PE for 2010 = 17.50 / 1.0798 = 16.2 x
Historical
5 Yr
PE range 10.7 - 17.8
DY range 7.0% - 4.2%
10 Yr
PE range 12.3 - 20.1
DY range 7.0% - 4.5%
Capital change
2002 3/1 Bonus
A Brief Look at Tenaga National Berhad
Tenaga Nasional Berhad
Business Description:
Tenaga Nasional Berhad (TNB) is engaged in the business of the generation, transmission, distribution and sale of electricity. The Company operates through three divisions:
YEAR DPS EPS
2000 5.8 52.6
2001 5.7 43.5
2002 5.9 27.4
2003 6.9 27.0
2004 10.5 35.2
2005 9.3 28.3
2006 10.6 43.6
2007 26.5 82.5
2008 14.8 59.1
2009 11.0 49.7
2010 26.0 73.74 NTA 6.612
(The DPS, EPS and NTA above were before the 2011 1 for 4 Bonus issue. To adjust to post bonus issue numbers, multiply each by 4/5.)
Current Price (7/1/2011): 6.54
2010 Sales 30,320,100,000
Employees: 29,149
Market Cap: 35,647,530,650
Shares Outstanding: 5,450,692,760
Closely Held Shares: 2,699,667,906
Estimated EPS for 2011 = 2*(8.94 + 25.51)*(4/5) = 68.9*(4/5) = 55.12 sen #
Projected PE for 2011 = 6.54 / 0.5512 = 11.9 x
# adjusted for the 2011 1/4 Bonus
Historical
5 Yr
PE range 12.6 - 18.7
DY range 2.1% - 1.4%
10 Yr
PE range 17.0 - 24.1
DY range 1.6% - 1.1%
Business Description:
Tenaga Nasional Berhad (TNB) is engaged in the business of the generation, transmission, distribution and sale of electricity. The Company operates through three divisions:
- Generation Division,
- Transmission Division and
- Distribution Division.
2000 5.8 52.6
2001 5.7 43.5
2002 5.9 27.4
2003 6.9 27.0
2004 10.5 35.2
2005 9.3 28.3
2006 10.6 43.6
2007 26.5 82.5
2008 14.8 59.1
2009 11.0 49.7
2010 26.0 73.74 NTA 6.612
(The DPS, EPS and NTA above were before the 2011 1 for 4 Bonus issue. To adjust to post bonus issue numbers, multiply each by 4/5.)
Current Price (7/1/2011): 6.54
2010 Sales 30,320,100,000
Employees: 29,149
Market Cap: 35,647,530,650
Shares Outstanding: 5,450,692,760
Closely Held Shares: 2,699,667,906
Recent Financial Results (Figures were before the 2011 1 for 4 bonus issue)
Announcement Date | Financial Yr. End | Qtr | Period End | Revenue RM '000 | Profit/Lost RM'000 | EPS | Amended | ||||||
28-Oct-10 | 31-Aug-10 | 4 | 31-Aug-10 | 7,869,400 | 389,000 | 8.94 | - | ||||||
14-Jul-10 | 31-Aug-10 | 3 | 31-May-10 | 7,723,300 | 1,109,300 | 25.51 | - | ||||||
20-Apr-10 | 31-Aug-10 | 2 | 28-Feb-10 | 7,389,100 | 1,001,500 | 23.05 | - | ||||||
20-Jan-10 | 31-Aug-10 | 1 | 30-Nov-09 | 7,338,300 | 697,500 | 16.28 | - |
Estimated EPS for 2011 = 2*(8.94 + 25.51)*(4/5) = 68.9*(4/5) = 55.12 sen #
Projected PE for 2011 = 6.54 / 0.5512 = 11.9 x
# adjusted for the 2011 1/4 Bonus
Historical
5 Yr
PE range 12.6 - 18.7
DY range 2.1% - 1.4%
10 Yr
PE range 17.0 - 24.1
DY range 1.6% - 1.1%
Capital Changes
2006 1/4 Bonus
2011 1/4 Bonus
A Brief Look at Coastal Contracts Bhd.
Coastal Contracts Bhd
Business Description:
Coastal Contracts Bhd is a Malaysia-based company engaged in investment holding and provision of management services. The Company, through its subsidiaries, operates in two segments:
2004 DPS 1.2 EPS 4.1
2005 DPS 0.9 EPS 4.8
2006 DPS 1.0 EPS 10.2
2007 DPS 1.9 EPS 19.8
2008 DPS 3.5 EPS 27.4
2009 DPS 3.0 EPS 45.0
9M10 DPS 5.0 EPS 40.07 NTA 1.5129
Current Price (7/1/2011): 2.37
2009 Sales 466,058,353
Employees: 420
Market Cap: 859,011,240
Shares Outstanding: 362,452,000
Closely Held Shares: 252,641,000
Estimated EPS for 2010 = ttm-EPS = 55.02 sen
Projected PE for 2010 = 2.37 / 0.5502 = 4.3 x
Historical
5 Yr
PE range 3.2 - 8.7
DY range 3.2% - 1.3%
10 Yr
PE range 5.8 - 11.3
DY range 2.5% - 1.2%
Business Description:
Coastal Contracts Bhd is a Malaysia-based company engaged in investment holding and provision of management services. The Company, through its subsidiaries, operates in two segments:
- vessels manufacturing and repairing services, which include fabrication and sale of marine transportation vessels and provision of ship repairs and maintenance services, and
- vessels chartering and equipment hire, which include the provision of vessels transportation and equipment hiring services.
2005 DPS 0.9 EPS 4.8
2006 DPS 1.0 EPS 10.2
2007 DPS 1.9 EPS 19.8
2008 DPS 3.5 EPS 27.4
2009 DPS 3.0 EPS 45.0
9M10 DPS 5.0 EPS 40.07 NTA 1.5129
Current Price (7/1/2011): 2.37
2009 Sales 466,058,353
Employees: 420
Market Cap: 859,011,240
Shares Outstanding: 362,452,000
Closely Held Shares: 252,641,000
Recent Financial Results
Announcement Date | Financial Yr. End | Qtr | Period End | Revenue RM '000 | Profit/Lost RM'000 | EPS | Amended | ||||||
19-Nov-10 | 31-Dec-10 | 3 | 30-Sep-10 | 192,091 | 53,634 | 14.80 | - | ||||||
24-Aug-10 | 31-Dec-10 | 2 | 30-Jun-10 | 138,619 | 48,275 | 13.32 | - | ||||||
25-May-10 | 31-Dec-10 | 1 | 31-Mar-10 | 141,142 | 43,306 | 11.95 | - | ||||||
22-Feb-10 | 31-Dec-09 | 4 | 31-Dec-09 | 150,901 | 54,030 | 14.97 | - |
Estimated EPS for 2010 = ttm-EPS = 55.02 sen
Projected PE for 2010 = 2.37 / 0.5502 = 4.3 x
Historical
5 Yr
PE range 3.2 - 8.7
DY range 3.2% - 1.3%
10 Yr
PE range 5.8 - 11.3
DY range 2.5% - 1.2%
Capital Changes
2004 1 to 5 Share Split
A Brief Look at UMW
UMW Holdings Berhad
Business Description:
UMW Holdings Berhad (UMW) is a Malaysia-based company. UMW operates in four segments:
Current Price (7/1/2011): 7.61
2009 Sales 10,720,861,000
Employees: 10,000
Market Cap: 8,758,836,040
Shares Outstanding: 1,150,964,000
Closely Held Shares: 17,000
2004 DPS 7.2 EPS 16.5
2005 DPS 9.9 EPS 28.0
2006 DPS 13.7 EPS 30.0
2007 DPS 15.9 EPS 43.6
2008 DPS 30.3 EPS 51.8
2009 DPS 24.7 EPS 34.2
9M10 DPS 23.50 EPS 43.55 NTA 3.5939
Estimated EPS for 2010 = 43.55*4/3 = 58.07 sen
Projected PE for 2010 = 7.61 / 0.5807 = 13.1 x
Historical
5 Yr
PE range 10.4 - 15.4
DY range 5.1% - 3.5%
10 Yr
PE range 9.9 - 14.2
DY range 4.0% - 2.8%
Business Description:
UMW Holdings Berhad (UMW) is a Malaysia-based company. UMW operates in four segments:
- automotive;
- equipment, which supplies marine engine, material handling and compressed air equipment;
- manufacturing and engineering, which provides engineering solutions to automotive components, transportation, petrochemicals, oleochemicals, and oil and gas industries;
- oil and gas, and others.
Current Price (7/1/2011): 7.61
2009 Sales 10,720,861,000
Employees: 10,000
Market Cap: 8,758,836,040
Shares Outstanding: 1,150,964,000
Closely Held Shares: 17,000
2004 DPS 7.2 EPS 16.5
2005 DPS 9.9 EPS 28.0
2006 DPS 13.7 EPS 30.0
2007 DPS 15.9 EPS 43.6
2008 DPS 30.3 EPS 51.8
2009 DPS 24.7 EPS 34.2
9M10 DPS 23.50 EPS 43.55 NTA 3.5939
Recent Financial Results
Announcement Date | Financial Yr. End | Qtr | Period End | Revenue RM '000 | Profit/Lost RM'000 | EPS | Amended | ||||||
22-Nov-10 | 31-Dec-10 | 3 | 30-Sep-10 | 3,087,276 | 262,199 | 13.17 | - | ||||||
20-Aug-10 | 31-Dec-10 | 2 | 30-Jun-10 | 3,282,075 | 342,994 | 18.74 | - | ||||||
20-May-10 | 31-Dec-10 | 1 | 31-Mar-10 | 3,033,157 | 232,268 | 11.81 | - | ||||||
23-Feb-10 | 31-Dec-09 | 4 | 31-Dec-09 | 2,969,431 | 169,967 | 9.04 | - |
Estimated EPS for 2010 = 43.55*4/3 = 58.07 sen
Projected PE for 2010 = 7.61 / 0.5807 = 13.1 x
Historical
5 Yr
PE range 10.4 - 15.4
DY range 5.1% - 3.5%
10 Yr
PE range 9.9 - 14.2
DY range 4.0% - 2.8%
Capital Changes
2003 2/3 Bonus
2008 1 to 2 Share Split
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:
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
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%
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:
- trading, which is engaged as suppliers and retailers of jewelries, precious stones and gold ornaments;
- manufacturing, which is engaged as a manufacturer and dealers of jewelries, precious stones and gold ornaments, and
- others, which includes investment holding.
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
A Brief Look at Affin Holdings Bhd.
Affin Holdings Berhad Company
Business Description:
Affin Holdings Berhad is an investment holding company. It operates in five segments:
Current Price (7/1/2011): 3.39
2009 Sales 1,885,694,000
Employees: 3,528
Market Cap: 5,066,612,640
Shares Outstanding: 1,494,576,000
Closely Held Shares: 1,160,222,910
2004 DPS 0.4 EPS 26.5
2005 DPS 2.2 EPS 19.5
2006 DPS 2.9 EPS 18.1
2007 DPS 3.7 EPS 16.9
2008 DPS 5.9 EPS 19.6
2009 DPS 6.4 EPS 24.9
9M10 DPS 9.0 EPS 24.23 NTA 3.46
Estimated EPS for 2010 = 24.23*4/3 = 32.31 sen
Projected PE for 2010 = 3.39/0.3231 = 10.5 x
Historical
5 Yr
PE range 7.6 - 13.0
DY range 3.5% - 1.9%
10 Yr
PE range 7.3 - 12.0
DY range 2.1% - 1.2%
Business Description:
Affin Holdings Berhad is an investment holding company. It operates in five segments:
- commercial banking and hire purchase,
- investment banking,
- stock-broking,
- insurance and
- others.
2009 Sales 1,885,694,000
Employees: 3,528
Market Cap: 5,066,612,640
Shares Outstanding: 1,494,576,000
Closely Held Shares: 1,160,222,910
2004 DPS 0.4 EPS 26.5
2005 DPS 2.2 EPS 19.5
2006 DPS 2.9 EPS 18.1
2007 DPS 3.7 EPS 16.9
2008 DPS 5.9 EPS 19.6
2009 DPS 6.4 EPS 24.9
9M10 DPS 9.0 EPS 24.23 NTA 3.46
Estimated EPS for 2010 = 24.23*4/3 = 32.31 sen
Projected PE for 2010 = 3.39/0.3231 = 10.5 x
Historical
5 Yr
PE range 7.6 - 13.0
DY range 3.5% - 1.9%
10 Yr
PE range 7.3 - 12.0
DY range 2.1% - 1.2%
Recent Financial Results
Announcement Date | Financial Yr. End | Qtr | Period End | Revenue RM '000 | Profit/Lost RM'000 | EPS | Amended | ||||||
26-Nov-10 | 31-Dec-10 | 3 | 30-Sep-10 | 597,821 | 115,015 | 7.70 | - | ||||||
20-Aug-10 | 31-Dec-10 | 2 | 30-Jun-10 | 534,605 | 111,706 | 7.48 | - | ||||||
31-May-10 | 31-Dec-10 | 1 | 31-Mar-10 | 520,025 | 135,332 | 9.06 | - | ||||||
25-Feb-10 | 31-Dec-09 | 4 | 31-Dec-09 | 510,409 | 84,170 | 5.63 | - |
A Brief Look at Malayan Banking Bhd
Malayan Banking Berhad Company
Business Description:
Malayan Banking Berhad (Maybank) is engaged in the business of banking and finance. Through its subsidiaries, Maybank operates in six segments, which include
Current Price (7/1/2011): 9.00
Employees: 40,000
Market Cap: 65,900,163,519
Shares Outstanding: 7,322,240,391
Closely Held Shares: 4,362,026,586
2004 DPS 30.6 EPS 47.7
2005 DPS 53.7 EPS 47.6
2006 DPS 43.3 EPS 52.2
2007 DPS 41.3 EPS 57.8
2008 DPS 32.1 EPS 58.3
2009 DPS 6.00 EPS 33.5
2010 DPS 55.0 EPS 53.94
1Q11 DPS - EPS 14.53 NTA 4.0007
Estimated EPS for FY 2011 4*14.53 = 58.12 sen
Projected PE for FY 2011 = 15.5 x
Historical
5 Yr
PE range 11.3 - 17.4
DY range 5.4% - 3.6%
10 Yr
PE range 14.1 - 20.4
DY range 4.7% - 3.4%
Business Description:
Malayan Banking Berhad (Maybank) is engaged in the business of banking and finance. Through its subsidiaries, Maybank operates in six segments, which include
- consumer banking,
- business and corporate banking,
- global market,
- investment banking,
- insurance and asset management and
- international banking.
Current Price (7/1/2011): 9.00
Employees: 40,000
Market Cap: 65,900,163,519
Shares Outstanding: 7,322,240,391
Closely Held Shares: 4,362,026,586
2004 DPS 30.6 EPS 47.7
2005 DPS 53.7 EPS 47.6
2006 DPS 43.3 EPS 52.2
2007 DPS 41.3 EPS 57.8
2008 DPS 32.1 EPS 58.3
2009 DPS 6.00 EPS 33.5
2010 DPS 55.0 EPS 53.94
1Q11 DPS - EPS 14.53 NTA 4.0007
Estimated EPS for FY 2011 4*14.53 = 58.12 sen
Projected PE for FY 2011 = 15.5 x
Historical
5 Yr
PE range 11.3 - 17.4
DY range 5.4% - 3.6%
10 Yr
PE range 14.1 - 20.4
DY range 4.7% - 3.4%
Recent Financial Results
Announcement Date | Financial Yr. End | Qtr | Period End | Revenue RM '000 | Profit/Lost RM'000 | EPS | Amended | ||||||
12-Nov-10 | 30-Jun-11 | 1 | 30-Sep-10 | 5,001,923 | 1,053,640 | 14.53 | - | ||||||
20-Aug-10 | 30-Jun-10 | 4 | 30-Jun-10 | 4,737,314 | 975,033 | 12.89 | - | ||||||
13-May-10 | 30-Jun-10 | 3 | 31-Mar-10 | 4,586,454 | 1,063,284 | 14.56 | - | ||||||
09-Feb-10 | 30-Jun-10 | 2 | 31-Dec-09 | 4,671,338 | 1,023,380 | 14.04 | - |
Capital Changes
2008 1/4 Bonus
2009 9/20 Rights @ RM 2.74
Related reading:
Risk comes from misjudgement of a company's prospects, not price volatility
A Brief Look at Berjaya Corporation Berhad: A very complicated conglomerate
Berjaya Corporation Berhad Company
Business Description:
Berjaya Corporation Berhad is an investment holding company and is engaged in the provision of management services. The principal activities of the Company and its subsidiaries include financial services; marketing of consumer products and services; restaurants; property development and investment in properties; development and operation of vacation time share, hotels and resorts, water theme park and operating of a casino; operations of toto betting; leasing of online lottery equipment; manufacture and distribution of computerized lottery and voting systems; publication, printing and distribution of daily newspaper; manufacturing, and investment holding and others. During the fiscal year ended April 30, 2009 (fiscal 2009), the Company acquired 100% interest in Berjaya North Asia Holdings Pte Ltd (BNAH). In September 2009, the Company announced that acquisition of a wholly owned subsidiary, ecosway Japan K.K.
1Q11 Turnover:
Toto betting operations 47.8%
Financial services 8%
Property investment & development 2.8%
Hotel & resort 4.2%
Marketing 32.8%
Others 4.4%
2002 EPS -106 DPS 0.0
2003 EPS -80.6 DPS 0.0
2004 EPS 15.9 DPS 0.0
2005 EPS -30.9 DPS 0.0
2006 EPS -2.8 DPS 0.0
2007 EPS 4.0 DPS 2.9
2008 EPS 2.8 DPS 4.3
2009 EPS 3.7 DPS 3.3
2010 EPS 2.1 DPS 1.0
1H11 EPS 4.85 DPS 5.0(Proposed)
Current Price (7/1/2011): 1.23
Market Cap: 5,179,003,560
Shares Outstanding: 4,210,572,000
Closely Held Shares: 1,953,945,595
Estimated EPS for FYE 2011 = 2*4.85 = 9.7 sen
Projected PE for FY 2011 = 12.7 x
Historical
5 Yr
PE range 13.3 - 41.6
DY range 6.6% - 1.8%
10 Yr
PE range 11.3 - 34.3
DY range 3.3% - 0.9%
Business Description:
Berjaya Corporation Berhad is an investment holding company and is engaged in the provision of management services. The principal activities of the Company and its subsidiaries include financial services; marketing of consumer products and services; restaurants; property development and investment in properties; development and operation of vacation time share, hotels and resorts, water theme park and operating of a casino; operations of toto betting; leasing of online lottery equipment; manufacture and distribution of computerized lottery and voting systems; publication, printing and distribution of daily newspaper; manufacturing, and investment holding and others. During the fiscal year ended April 30, 2009 (fiscal 2009), the Company acquired 100% interest in Berjaya North Asia Holdings Pte Ltd (BNAH). In September 2009, the Company announced that acquisition of a wholly owned subsidiary, ecosway Japan K.K.
1Q11 Turnover:
Toto betting operations 47.8%
Financial services 8%
Property investment & development 2.8%
Hotel & resort 4.2%
Marketing 32.8%
Others 4.4%
2002 EPS -106 DPS 0.0
2003 EPS -80.6 DPS 0.0
2004 EPS 15.9 DPS 0.0
2005 EPS -30.9 DPS 0.0
2006 EPS -2.8 DPS 0.0
2007 EPS 4.0 DPS 2.9
2008 EPS 2.8 DPS 4.3
2009 EPS 3.7 DPS 3.3
2010 EPS 2.1 DPS 1.0
1H11 EPS 4.85 DPS 5.0(Proposed)
Current Price (7/1/2011): 1.23
Market Cap: 5,179,003,560
Shares Outstanding: 4,210,572,000
Closely Held Shares: 1,953,945,595
Estimated EPS for FYE 2011 = 2*4.85 = 9.7 sen
Projected PE for FY 2011 = 12.7 x
Historical
5 Yr
PE range 13.3 - 41.6
DY range 6.6% - 1.8%
10 Yr
PE range 11.3 - 34.3
DY range 3.3% - 0.9%
Recent Financial Results
Announcement Date | Financial Yr. End | Qtr | Period End | Revenue RM '000 | Profit/Lost RM'000 | EPS | Amended | ||||||
30-Dec-10 | 30-Apr-11 | 2 | 31-Oct-10 | 1,719,909 | 137,427 | 1.97 | - | ||||||
29-Sep-10 | 30-Apr-11 | 1 | 31-Jul-10 | 1,744,567 | 187,390 | 2.88 | - | ||||||
30-Jun-10 | 30-Apr-10 | 4 | 30-Apr-10 | 1,887,330 | 253,738 | 3.41 | - | ||||||
31-Mar-10 | 30-Apr-10 | 3 | 31-Jan-10 | 1,660,417 | -97,041 | -3.72 | - |
Capital Changes
2010 25/1000 Distribution of BjMedia shares
ICULS Amount 233.53m Maturity 30/10/2015 Rate 0% Conv. Pr. RM 1.00
Thursday 13 January 2011
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.
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 Suria Capital Holdings Bhd.
Suria Capital Holdings Berhad Company
Business Description:
Suria Capital Holdings Berhad is a Malaysia-based investment holding company. The Company, through its subsidiaries, operates in five segments:
2004 EPS 5.8 DPS 0.0
2005 EPS 14.1 DPS 1.4
2006 EPS 17.3 DPS 1.4
2007 #EPS 18.2 DPS 1.8
2008 EPS 13.2 DPS 10.4
2009 EPS 19.8 DPS 2.3
9M10 EPS 19.88 DPS -
#EPS adjusted for one off exceptional gain
Current Price (7/1/2011): RM 2.00
Estimated EPS for 2010 = 19.88*4/3 = 26.5 sen
Projected PE for 2010 = 7.55
Historical
5 Yr
PE 4.8 - 13.9
DY% 4.2 - 1.4
10 Yr
PE 28.4 - 62.4
DY% 2.3 - 0.8
Business Description:
Suria Capital Holdings Berhad is a Malaysia-based investment holding company. The Company, through its subsidiaries, operates in five segments:
- investment holding, which include investments in fixed deposits and short term investments;
- property development, which include development of residential and commercial properties;
- port operations, which include provision of port and related services, distributor of port cargo handling equipment and related spare parts, and provision of equipment maintenance services;
- logistics and bunkering, which include the provision of bunkering and related services, and
- contract and engineering, which is engaged as construction contractor and the provision of project management and technical support services.
2004 EPS 5.8 DPS 0.0
2005 EPS 14.1 DPS 1.4
2006 EPS 17.3 DPS 1.4
2007 #EPS 18.2 DPS 1.8
2008 EPS 13.2 DPS 10.4
2009 EPS 19.8 DPS 2.3
9M10 EPS 19.88 DPS -
#EPS adjusted for one off exceptional gain
Current Price (7/1/2011): RM 2.00
Estimated EPS for 2010 = 19.88*4/3 = 26.5 sen
Projected PE for 2010 = 7.55
Historical
5 Yr
PE 4.8 - 13.9
DY% 4.2 - 1.4
10 Yr
PE 28.4 - 62.4
DY% 2.3 - 0.8
Recent Financial Results
Announcement Date | Financial Yr. End | Qtr | Period End | Revenue RM '000 | Profit/Lost RM'000 | EPS | Amended | ||||||
15-Nov-10 | 31-Dec-10 | 3 | 30-Sep-10 | 64,604 | 18,632 | 6.62 | Amended | ||||||
30-Jul-10 | 31-Dec-10 | 2 | 30-Jun-10 | 62,786 | 18,800 | 6.62 | - | ||||||
26-May-10 | 31-Dec-10 | 1 | 31-Mar-10 | 59,708 | 18,851 | 6.64 | - | ||||||
19-Feb-10 | 31-Dec-09 | 4 | 31-Dec-09 | 65,015 | 19,132 | 6.69 | - |
Commentary on Prospects (from the Company's quarterly report): Port operations will continue to be the main contributor to the Group's earnings and the Board is optimistic of achieving better performance for the financial year.
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