Tenaga chief says nuclear energy option as coal price spikes up
Written by Bernama
Saturday, 15 January 2011 20:31
KUALA LUMPUR: The recent flooding catastrophe in Australia that pushed up the coal price, further justifies the need for Malaysia to seriously consider nuclear power to generate electricity, TENAGA NASIONAL BHD [] (TNB)president and chief executive officer, Datuk Seri Che Khalib Mohamad Noh said.
"Due to the shortage of gas in the country, we have diversified our electricity generation to include coal. Now that there is bad whether in Australia and Kalimantan, as well as severe cold in the Northern hemisphere, the demand for coal, has suddenly shot up but supply is limited.
"There is also a lot of expansion of coal plants elsewhere and all this has combined to cause coal price to spike up by more than 50% over the last six months," he said on Satursday, Jan 15.
Coal accounts for 40% of Tenaga's power generation source.
AmResearch in its recent report said, based on the current price that is hovering above US$100 per tonne and the US/RM exchange rate, Tenaga's net profit for financial years 2011 to 2013, could drop by between 28% to 29%.
Tenaga purchased 17% of its annual coal requirement of 18 million tonnes in financial year 2010 from Australia, 71% from Indonesia and 11% from South Africa, said the research house.
Coal accounted for 48% of Tenaga's 2010 financial year fuel cost.
"We estimate that a US$10 increase per tonne in coal costs above our average coal cost projection, could shave Tenaga's 2011 financial net profit by 18%," it explained.
Hence, Che Khalib said, it is timely for the government to seriously look into generating electricty from nuclear power.
"The safety measures, record and TECHNOLOGY [] for nuclear power plants today are far better than that 30 years ago," he added.
He also said that, as the country’s largest power producer, TNB supports the government’s initiative to establish the Nuclear Power Corporation, as the country can now seriously look into an alternative avenue.
"It is not that we are forcing the country to accept the alternative but we seriously need to look at it and if suitable, be implemented as soon as possible," said Che Khalib.
He also said TNB as an utility company has an interest in supporting the government as the plan is to have the first nuclear plant by year 2021.
"TNB wants secure power generation within the next 10 years and it has to have nuclear power as part of the mix," he added. - Bernama
Tuesday, 18 January 2011
Pos Malaysia, Maybank partner to offer shared banking services
Pos Malaysia, Maybank partner to offer shared banking services
Written by Surin Murugiah of theedgemalaysia.com
Friday, 14 January 2011 19:16
KUALA LUMPUR: POS MALAYSIA BHD [] and MALAYAN BANKING BHD [] have teamed up to provide shared banking convenience for their customers at more than 400 Pos Malaysia outlets.
In the agreement signed on Friday, Jan 14, they said the alliance would enable the bank to provide banking services to more customers, especially the underserved segment, through the extensive network of Pos Malaysia’s outlets. The partnership would enable Maybank to especially reach the rural areas of Sabah and Sarawak.
Pos Malaysia group managing director and chief executive officer Datuk Syed Faisal Albar said Pos Malaysia was always looking for opportunities to expand the range of products and services offered at its post office counters such as the shared banking services with Maybank.
Maybank president & CEO Datuk Seri Abdul Wahid Omar said the collaboration reaffirmed Maybank’s market leadership and capabilities to offer services to all communities. This would also reinforce its corporate social responsibility and focus on supporting communities especially in the rural areas.
“It is about providing access to financial services and to improve quality of life of the community as well as contribute to the development of the people where we have our presence.
“The initiative is also in line with Maybank’s spirit in humanising financial services from the heart of Asean by providing easy access to financial service for the people, as well as providing them with a fair term and pricing and for us to be the heart of the community,” he added.
The three phase implementation programme will see selected Pos Malaysia outlets offer Maybank customers to undertake over the counter bank transactions such as cash deposit and withdrawal for savings account holders and loan repayments in the initial stage.
An automated teller machine would be provided at selected Pos Malaysia outlets to offer banking convenience beyond banking hours as well as additional services such as fund transfer, top-up of mobile credits or 'Touch 'n Go’ card.
"By end June 2011, Pos Malaysia services will expand to cover remittance service and opening of savings account," Abdul Wahid said.
Written by Surin Murugiah of theedgemalaysia.com
Friday, 14 January 2011 19:16
KUALA LUMPUR: POS MALAYSIA BHD [] and MALAYAN BANKING BHD [] have teamed up to provide shared banking convenience for their customers at more than 400 Pos Malaysia outlets.
In the agreement signed on Friday, Jan 14, they said the alliance would enable the bank to provide banking services to more customers, especially the underserved segment, through the extensive network of Pos Malaysia’s outlets. The partnership would enable Maybank to especially reach the rural areas of Sabah and Sarawak.
Pos Malaysia group managing director and chief executive officer Datuk Syed Faisal Albar said Pos Malaysia was always looking for opportunities to expand the range of products and services offered at its post office counters such as the shared banking services with Maybank.
Maybank president & CEO Datuk Seri Abdul Wahid Omar said the collaboration reaffirmed Maybank’s market leadership and capabilities to offer services to all communities. This would also reinforce its corporate social responsibility and focus on supporting communities especially in the rural areas.
“It is about providing access to financial services and to improve quality of life of the community as well as contribute to the development of the people where we have our presence.
“The initiative is also in line with Maybank’s spirit in humanising financial services from the heart of Asean by providing easy access to financial service for the people, as well as providing them with a fair term and pricing and for us to be the heart of the community,” he added.
The three phase implementation programme will see selected Pos Malaysia outlets offer Maybank customers to undertake over the counter bank transactions such as cash deposit and withdrawal for savings account holders and loan repayments in the initial stage.
An automated teller machine would be provided at selected Pos Malaysia outlets to offer banking convenience beyond banking hours as well as additional services such as fund transfer, top-up of mobile credits or 'Touch 'n Go’ card.
"By end June 2011, Pos Malaysia services will expand to cover remittance service and opening of savings account," Abdul Wahid said.
LTAT income up 34pct to RM747.5m in FY2010
LTAT income up 34pct to RM747.5m in FY2010
Written by Joseph Chin of theedgemalaysia.com
Monday, 17 January 2011 18:52
KUALA LUMPUR: The Lembaga Tabung Angkatan Tentera (LTAT) registered an unaudited total income of RM747.5 million in the financial year ended Dec 31, 2010, up 34.7% from RM554.7 million.
The Malaysian Armed Forces Fund said on Monday, Jan 17 this was the highest recorded profit since it was set up 38 years ago.
"Eligible members will receive total dividends and bonuses at a rate of 14% for FY ended Dec 31, 2010," it said.
The payout, comprising of 7% dividend, 1% bonus and 6% special bonus in the form of unit trusts, would amount to RM616.3 million. This is an increase of 7.2% from FY2009 payout of RM575.2 million.
LTAT's total assets as at Dec 31, 2010, increased by 1.3% to RM7.6 billion from RM7.5 billion in FY2009. The members' contributions totalled RM6.7 billion in 2010 compared with RM6.3 billion in 2009.
Written by Joseph Chin of theedgemalaysia.com
Monday, 17 January 2011 18:52
KUALA LUMPUR: The Lembaga Tabung Angkatan Tentera (LTAT) registered an unaudited total income of RM747.5 million in the financial year ended Dec 31, 2010, up 34.7% from RM554.7 million.
The Malaysian Armed Forces Fund said on Monday, Jan 17 this was the highest recorded profit since it was set up 38 years ago.
"Eligible members will receive total dividends and bonuses at a rate of 14% for FY ended Dec 31, 2010," it said.
The payout, comprising of 7% dividend, 1% bonus and 6% special bonus in the form of unit trusts, would amount to RM616.3 million. This is an increase of 7.2% from FY2009 payout of RM575.2 million.
LTAT's total assets as at Dec 31, 2010, increased by 1.3% to RM7.6 billion from RM7.5 billion in FY2009. The members' contributions totalled RM6.7 billion in 2010 compared with RM6.3 billion in 2009.
China stocks dive 3 pct after bank reserve hike
China stocks dive 3 pct after bank reserve hike
Written by Reuters
Monday, 17 January 2011 14:52
SHANGHAI: Chinese shares fell more than 3 percent on Monday afternoon, Jan 17, led by banking and property stocks, after a rise in lenders' reserve requirements and talk of a property tax in Shanghai kept bank and developer stocks under pressure.
The benchmark Shanghai Composite Index fell to 2,704.5 points by 0640 GMT, dropping far below the crucial 125-day moving average at 2,779. The index lost 1.7 percent last week amid lingering fears over monetary tightening steps.
The property sub-index fell 5.7 percent.
The PBOC announced a 50-basis-point RRR hike for all banks after Chinese markets closed last Friday, which will take effect on Thursday and will drain an estimated 360 billion yuan ($55 billion) from the market.
Shanghai's mayor said on Sunday that one of the city's main tasks this year would be to prepare for the trial run of a property tax to curb speculative investments in the real estate sector.
Top lender ICBC dropped 3.9 percent, while the biggest listed property developer China Vanke tumbled 7.7 percent. - Reuters
Written by Reuters
Monday, 17 January 2011 14:52
SHANGHAI: Chinese shares fell more than 3 percent on Monday afternoon, Jan 17, led by banking and property stocks, after a rise in lenders' reserve requirements and talk of a property tax in Shanghai kept bank and developer stocks under pressure.
The benchmark Shanghai Composite Index fell to 2,704.5 points by 0640 GMT, dropping far below the crucial 125-day moving average at 2,779. The index lost 1.7 percent last week amid lingering fears over monetary tightening steps.
The property sub-index fell 5.7 percent.
The PBOC announced a 50-basis-point RRR hike for all banks after Chinese markets closed last Friday, which will take effect on Thursday and will drain an estimated 360 billion yuan ($55 billion) from the market.
Shanghai's mayor said on Sunday that one of the city's main tasks this year would be to prepare for the trial run of a property tax to curb speculative investments in the real estate sector.
Top lender ICBC dropped 3.9 percent, while the biggest listed property developer China Vanke tumbled 7.7 percent. - Reuters
Monday, 17 January 2011
A Brief Look at Hing Yiap Group Bhd. & the take-over offer by Everest Hectare
Hing Yiap Group Berhad
Business Description:
Hing Yiap Group Berhad (Hing Yiap) is a Malaysia-based company engaged in property and investment holding, textile knitting and the manufacture of garments. The Company operates in three segments:
Current Price (7/1/2011): 1.74
2010 Sales 134,827,402
Employees: 1,675
Market Cap: 72,709,380
Shares Outstanding: 41,787,000
Closely Held Shares: 39,240,280
Year DPS EPS
2005 1.1 -4.1
2006 2.2 3.4
2007 3.7 10.8
2008 7.5 18.8
2009 8.1 22.4
1Q10 0.0 20.44 NAV 2.3500
2010 7.5E 29.3P (SPG)
Historical
5 Yr
PE range 4.8 - 8.4
DY range 10.3% - 5.5%
Estimated EPS for 2010 (SPG) = 29.3 sen
At price of 1.74, its forward PE = 1.74 / 0.293 = 5.9 x
Un-audited financial results for the financial period ended 30 September 2010.
Balance Sheet on 30.9.2010
Non-Current Assets 32.708 m
PPE 21.070m
Intangible assets 7.393m
Deferred tax assets 2.177m
Held-to-maturity investment 1.004m
Available-for-sale investment 1.064m
Current Assets 112.136m
Total Asset 144.844m
Shareholders' Equity 98.075m
Share capital 41.787m
Reserves 56.288m
Non-Current Liabilities 0.338m
Current Liabilities 46.631m
Payables 41.421m
Hire purchase payables 0.636m
Short term borrowings 4.374m
Total Liabilities 46.769m
Total Equity and Liabilities 144.844m
Net assets per share 2.35
Income Statement 1Q ending 30.9.2010
Revenue 45.507m
Profit from operations 11.564m
PBT 11.509m
PAT 8.541m
EPS 20.44 sen
Weighted average no. of ordinary shares 41.787m
Cash flow statement for period ended 30.9.2010
PBT 11.509m
Operating profit before WCC 12.276m
Cash from operations (4.868m)
Net CFO (6.037m)
CFI (1.426m)
CFF (0.260m)
17.1.2011
HING YIAP GROUP BERHAD ["COMPANY"]
RECEIPT OF NOTICE OF UNCONDITIONAL TAKE-OVER OFFER FROM RHB INVESTMENT BANK BERHAD ON BEHALF OF EVEREST HECTARE SDN BHD ["EVEREST" OR OFFEROR"]
The Board of Directors of the Company ["Board"] wishes to announce the following:
1. On 17 January 2011, Everest Hectare Sdn Bhd had acquired an aggregate of 20,900,000 ordinary shares of RM1.00 each in the Company representing 50.02% of the issued and paid-up share capital of the Company, for a cash consideration of RM1.50 per share via an unconditional share sale agreement entered into with Chi Kuei Yung Sdn Bhd, Chi Oi Meng, Khoo Henn Kuan and Khoo Henn Kiew.
2. The Company has today received a notice of unconditional take-over offer dated 17 January 2011 ["Notice"] from RHB Investment Bank Berhad on behalf of Everest Hectare Sdn Bhd to acquire all the remaining ordinary shares of RM1.00 each in the Company not already owned by Everest ("Offer Shares") for a cash consideration of RM1.50 for each Offer Share ("Offer").
The Board of Directors of the Company is not seeking any alternative person to make a take-over offer for the Company's shares.
Notice of Unconditional Take-Over Offer of Hing Yiap
Main points:
It is the intention of the Offeror to maintain the listing status of Hing Yiap.
The Offeror does not intend to invoke Section 222 of the CMSA to compulsorily acquire any outstanding Offer Shares for which valid acceptances hve not been received.
Information on the Offeror
Everest Hectare was incorporated in Malaysia under the Companies Act, 1965 as a private limited company on 2 July 2010.
The present directors and shareholders of Everest Hectare are Ng Chin Huat and Yap Su P'ing who each holds 50% equity interest in Everest Hectare.
Ng Chin Huat is currently the Managing Director and the major shareholder of Asia Brands Corporation Berhad, an investment holding company in which its subsidiaries are primarily involved in marketing, trading and retailing of lingerie, ladies' casual wear, children's wear, care and related products. Some of the brands owned and currently carried by them include Anakku, Audrey, Disney and Mickey Mouse & Friends.
Business Description:
Hing Yiap Group Berhad (Hing Yiap) is a Malaysia-based company engaged in property and investment holding, textile knitting and the manufacture of garments. The Company operates in three segments:
- manufacturing, which includes textile knitting and the manufacture of garments;
- trading, which includes wholesaling, retailing and distribution of ready-made sports and casual wear, women intimate apparel and related accessories, and
- food and beverage, which includes the rights to operate gourmet chocolate cafe and retail outlets known as Theobroma Chocolate Lounge.
Current Price (7/1/2011): 1.74
2010 Sales 134,827,402
Employees: 1,675
Market Cap: 72,709,380
Shares Outstanding: 41,787,000
Closely Held Shares: 39,240,280
| Announcement Date | Financial Yr. End | Qtr | Period End | Revenue RM '000 | Profit/Lost RM'000 | EPS | Amended | ||||||
| 24-Nov-10 | 30-Jun-11 | 1 | 30-Sep-10 | 45,507 | 8,541 | 20.44 | Amended | ||||||
| 26-Aug-10 | 30-Jun-10 | 4 | 30-Jun-10 | 25,140 | 574 | 1.37 | - | ||||||
| 27-May-10 | 30-Jun-10 | 3 | 31-Mar-10 | 34,126 | 2,486 | 5.95 | - | ||||||
| 27-Aug-09 | 30-Jun-09 | 4 | 30-Jun-09 | 23,790 | 199 | 0.48 | - | ||||||
Year DPS EPS
2005 1.1 -4.1
2006 2.2 3.4
2007 3.7 10.8
2008 7.5 18.8
2009 8.1 22.4
1Q10 0.0 20.44 NAV 2.3500
2010 7.5E 29.3P (SPG)
Historical
5 Yr
PE range 4.8 - 8.4
DY range 10.3% - 5.5%
Estimated EPS for 2010 (SPG) = 29.3 sen
At price of 1.74, its forward PE = 1.74 / 0.293 = 5.9 x
Un-audited financial results for the financial period ended 30 September 2010.
Balance Sheet on 30.9.2010
Non-Current Assets 32.708 m
PPE 21.070m
Intangible assets 7.393m
Deferred tax assets 2.177m
Held-to-maturity investment 1.004m
Available-for-sale investment 1.064m
Current Assets 112.136m
Inventories 69.544m
Receivables 34.258m
Cash & bank balances 8.334m
Total Asset 144.844m
Shareholders' Equity 98.075m
Share capital 41.787m
Reserves 56.288m
Non-Current Liabilities 0.338m
Current Liabilities 46.631m
Payables 41.421m
Hire purchase payables 0.636m
Short term borrowings 4.374m
Total Liabilities 46.769m
Total Equity and Liabilities 144.844m
Net assets per share 2.35
Income Statement 1Q ending 30.9.2010
Revenue 45.507m
Profit from operations 11.564m
PBT 11.509m
PAT 8.541m
EPS 20.44 sen
Weighted average no. of ordinary shares 41.787m
Cash flow statement for period ended 30.9.2010
PBT 11.509m
Operating profit before WCC 12.276m
Cash from operations (4.868m)
Net CFO (6.037m)
CFI (1.426m)
CFF (0.260m)
17.1.2011
HING YIAP GROUP BERHAD ["COMPANY"]
RECEIPT OF NOTICE OF UNCONDITIONAL TAKE-OVER OFFER FROM RHB INVESTMENT BANK BERHAD ON BEHALF OF EVEREST HECTARE SDN BHD ["EVEREST" OR OFFEROR"]
The Board of Directors of the Company ["Board"] wishes to announce the following:
1. On 17 January 2011, Everest Hectare Sdn Bhd had acquired an aggregate of 20,900,000 ordinary shares of RM1.00 each in the Company representing 50.02% of the issued and paid-up share capital of the Company, for a cash consideration of RM1.50 per share via an unconditional share sale agreement entered into with Chi Kuei Yung Sdn Bhd, Chi Oi Meng, Khoo Henn Kuan and Khoo Henn Kiew.
2. The Company has today received a notice of unconditional take-over offer dated 17 January 2011 ["Notice"] from RHB Investment Bank Berhad on behalf of Everest Hectare Sdn Bhd to acquire all the remaining ordinary shares of RM1.00 each in the Company not already owned by Everest ("Offer Shares") for a cash consideration of RM1.50 for each Offer Share ("Offer").
The Board of Directors of the Company is not seeking any alternative person to make a take-over offer for the Company's shares.
Notice of Unconditional Take-Over Offer of Hing Yiap
Main points:
It is the intention of the Offeror to maintain the listing status of Hing Yiap.
The Offeror does not intend to invoke Section 222 of the CMSA to compulsorily acquire any outstanding Offer Shares for which valid acceptances hve not been received.
Information on the Offeror
Everest Hectare was incorporated in Malaysia under the Companies Act, 1965 as a private limited company on 2 July 2010.
The present directors and shareholders of Everest Hectare are Ng Chin Huat and Yap Su P'ing who each holds 50% equity interest in Everest Hectare.
Ng Chin Huat is currently the Managing Director and the major shareholder of Asia Brands Corporation Berhad, an investment holding company in which its subsidiaries are primarily involved in marketing, trading and retailing of lingerie, ladies' casual wear, children's wear, care and related products. Some of the brands owned and currently carried by them include Anakku, Audrey, Disney and Mickey Mouse & Friends.
A Brief Look at QL Resources Bhd.
QL Resources Bhd
Business Description:
QL Resources Berhad is a Malaysia-based company engaged in investment holding and provision of management services. The Company operates in three segments:
Current Price (7/1//2011): 5.84
2010 Sales 1,476,396,000
Employees: 3,557
Market Cap: 2,307,804,480
Shares Outstanding: 395,172,000
Closely Held Shares: 243,318,301
# adjusted for 2010 1/5 Bonus
Estimated EPS for 2011 = 2*15.28 = 30.56 sen
At price of 5.84, it is trading at forward PE = 5.84 / 0.3058 = 19.1 x
Historical
5 Yr
PE range 9.8 - 14.6
DY range 2.5% - 1.7%
10 Yr
PE range 9.2 - 13.8
DY range 2.6% - 1.7%
Year DPS EPS
2000 0.0 1.1
2001 1.0 4.6
2002 1.4 5.0
2003 1.4 6.0
2004 1.4 7.5
2005 2.3 10.0
2006 3.6 12.2
2007 4.1 16.0
2008 3.6 20.4
2009 5.8 22.6
1H10 0.0 15.28 NTA 1.400
Business Description:
QL Resources Berhad is a Malaysia-based company engaged in investment holding and provision of management services. The Company operates in three segments:
- marine products manufacturing segment, which is engaged in deep sea fishing, manufacture and sale of fishmeal, surimi and surimi-based products;
- palm oil activities segment, which is engaged in crude palm oil milling and oil palm cultivations, and
- integrated livestock farming segment, which is engaged in the distribution of animal feed raw materials, food related products and livestock farming.
Current Price (7/1//2011): 5.84
2010 Sales 1,476,396,000
Employees: 3,557
Market Cap: 2,307,804,480
Shares Outstanding: 395,172,000
Closely Held Shares: 243,318,301
| Announcement Date | Financial Yr. End | Qtr | Period End | Revenue RM '000 | Profit/Lost RM'000 | EPS | Amended | ||||||
| 22-Nov-10 | 31-Mar-11 | 2 | 30-Sep-10 | 438,725 | 36,405 | 8.43 | - | ||||||
| 23-Aug-10 | 31-Mar-11 | 1 | 30-Jun-10 | 384,514 | 28,207 | 6.86 | - | ||||||
| 24-May-10 | 31-Mar-10 | 4 | 31-Mar-10 | 413,024 | 27,695 | 6.45# | - | ||||||
| 22-Feb-10 | 31-Mar-10 | 3 | 31-Dec-09 | 370,133 | 33,674 | 7.80# | - | ||||||
# adjusted for 2010 1/5 Bonus
Estimated EPS for 2011 = 2*15.28 = 30.56 sen
At price of 5.84, it is trading at forward PE = 5.84 / 0.3058 = 19.1 x
Historical
5 Yr
PE range 9.8 - 14.6
DY range 2.5% - 1.7%
10 Yr
PE range 9.2 - 13.8
DY range 2.6% - 1.7%
Year DPS EPS
2000 0.0 1.1
2001 1.0 4.6
2002 1.4 5.0
2003 1.4 6.0
2004 1.4 7.5
2005 2.3 10.0
2006 3.6 12.2
2007 4.1 16.0
2008 3.6 20.4
2009 5.8 22.6
1H10 0.0 15.28 NTA 1.400
Capital Changes
2000 1.4/10 Rights @ RM 1.20
2001 1/2 Bonus
2004 1/4 Bonus, 1 to 2 Share Split
2005 1/3 Bonus
2008 1/2 Bonus
2010 1/5 Bonus
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:
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
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
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:
- Mail, which includes the provision of basic mail services for corporate and individual customers and customized solutions;
- Courier and logistic, which includes logistics and courier solutions by sea, air and land to both national and international destinations, and
- Retail, which includes over-the-counter services for payment of bills and certain financial products and services.
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 | Qtr | Period End | Revenue RM '000 | Profit/Lost RM'000 | EPS | Amended | ||||||
| 29-Nov-10 | 31-Dec-10 | 3 | 30-Sep-10 | 227,441 | 31,301 | 5.83 | - | ||||||
| 24-Aug-10 | 31-Dec-10 | 2 | 30-Jun-10 | 229,122 | 28,101 | 5.23 | - | ||||||
| 31-May-10 | 31-Dec-10 | 1 | 31-Mar-10 | 231,079 | 1,625 | 0.30 | - | ||||||
| 25-Feb-10 | 31-Dec-09 | 4 | 31-Dec-09 | 224,581 | 16,499 | 2.78 | - | ||||||
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
A Brief Look at Guan Chong
Guan Chong Berhad Company
Business Description:
Guan Chong Berhad is a Malaysia-based company engaged in investment holding and provision of management services. Through its subsidiaries, the Company is engaged in the manufacturing and trading of cocoa-derived food ingredients and cocoa related products, which is predominantly carried out in Malaysia. As of December 31, 2009, the Company's direct subsidiaries were Guan Chong Cocoa Manufacturer Sdn. Bhd., Guan Chong Trading Sdn. Bhd., Enrich Mix Sdn. Bhd., GCB Foods Sdn. Bhd., GCB Marketing Sdn. Bhd., GCB Specialty Chocolates Sdn. Bhd., GCB America, Inc. and GCB Oversea Holdings Corporations.
Current Price (7/1/2011): 2.49
2009 Sales 642,649,516
Employees: 180
Market Cap: 597,600,000
Shares Outstanding: 240,000,000
Closely Held Shares: 167,840,000
Estimated EPS for 2011 = 4*7.44 = 29.76 sen
At price of 2.49, it is trading at forward 2011 PE = 2.49 / 0.2976 = 8.4 x
Dividend to date 4.63 sen
At price of 2.49, the DY to date = 0.0463/2.49 = 1.86%
Year DPS EPS
2005 3.3 7.1
2006 4.0 7.3
2007 3.3 5.9
2008 1.0 2.9
2009 2.8 5.9
9M10 4.63 23.80 NTA 0.6060
Historical
5 Yr
PE range 8.2 - 15.1
DY range 6.0% - 3.4%
10 Yr
PE range 8.2 - 14.2
DY range 6% - 3.6%
Commentary of prospects
The Board of Directors is optimistic about the performance of GCB in the current financial year since the global economy is showing signs of improvement. We believe GCB is well-positioned for growth as many initiatives to improve our competitiveness and profitability have been systematically carried out by the management team.
Barring any unforeseen circumstances, the Board of Directors of GCB expects that the Group’s financial performance for the financial year 2010 to be satisfactory.
Business Description:
Guan Chong Berhad is a Malaysia-based company engaged in investment holding and provision of management services. Through its subsidiaries, the Company is engaged in the manufacturing and trading of cocoa-derived food ingredients and cocoa related products, which is predominantly carried out in Malaysia. As of December 31, 2009, the Company's direct subsidiaries were Guan Chong Cocoa Manufacturer Sdn. Bhd., Guan Chong Trading Sdn. Bhd., Enrich Mix Sdn. Bhd., GCB Foods Sdn. Bhd., GCB Marketing Sdn. Bhd., GCB Specialty Chocolates Sdn. Bhd., GCB America, Inc. and GCB Oversea Holdings Corporations.
Current Price (7/1/2011): 2.49
2009 Sales 642,649,516
Employees: 180
Market Cap: 597,600,000
Shares Outstanding: 240,000,000
Closely Held Shares: 167,840,000
| Announcement Date | Financial Yr. End | Qtr | Period End | Revenue RM '000 | Profit/Lost RM'000 | EPS | Amended | ||||||
| 18-Nov-10 | 31-Dec-10 | 3 | 30-Sep-10 | 296,563 | 17,788 | 7.44 | - | ||||||
| 16-Nov-10 | 31-Dec-10 | 3 | 30-Sep-10 | 296,563 | 17,788 | 7.44 | - | ||||||
| 09-Aug-10 | 31-Dec-10 | 2 | 30-Jun-10 | 270,781 | 19,502 | 8.13 | - | ||||||
| 27-May-10 | 31-Dec-10 | 1 | 31-Mar-10 | 268,952 | 19,836 | 8.22 | - | ||||||
Estimated EPS for 2011 = 4*7.44 = 29.76 sen
At price of 2.49, it is trading at forward 2011 PE = 2.49 / 0.2976 = 8.4 x
Dividend to date 4.63 sen
At price of 2.49, the DY to date = 0.0463/2.49 = 1.86%
Year DPS EPS
2005 3.3 7.1
2006 4.0 7.3
2007 3.3 5.9
2008 1.0 2.9
2009 2.8 5.9
9M10 4.63 23.80 NTA 0.6060
Historical
5 Yr
PE range 8.2 - 15.1
DY range 6.0% - 3.4%
10 Yr
PE range 8.2 - 14.2
DY range 6% - 3.6%
Capital changes
2004 1 to 4 Share Split, 7.4/10 Rights @ RM 0.25
2010 Proposed 1/3 Bonus and 1/4 free warrants
The Board of Directors is optimistic about the performance of GCB in the current financial year since the global economy is showing signs of improvement. We believe GCB is well-positioned for growth as many initiatives to improve our competitiveness and profitability have been systematically carried out by the management team.
Barring any unforeseen circumstances, the Board of Directors of GCB expects that the Group’s financial performance for the financial year 2010 to be satisfactory.
Understanding Intrinsic Value
Intrinsic Value versus Market Price
The key secret there is that the way to calculate intrinsic value is not precise. It's based on a lot of assumptions, and those assumptions can be easily adjusted based on anticipated interest rate.
Buffett never gives investors the intrinsic value he has calculated for a company, but he will give details in his annual reports relating to the facts that he and Munger used to determine the intrinsic value of a company.
Buffett believes Berkshire Hathaway's book value far understates its intrinsic value because many of the businesses Berkshire Hathaway controls are worth much more than their carrying value.
Also read:
Fair Valuation of Berkshire Hathaway
Don't be afraid of risk. Learn how to manage it.
Don't be afraid of risk. You will face some kind of risk no matter what you do with your money. Fear of risk can sometimes paralyze your investing. You end up watching your money lose value solely because you missed investment opportunities and let the money sit in a safe savings account, earning less interest than the inflation rate.
The least you need to know:
The least you need to know:
- Get to know the types of risks you face as a value investor, but don't be afraid of them.
- No investor can avoid risk, but you can learn how to manage it.
- Time can heal many investment woes, as long as you have the patience to wait out an investment storm.
Sunday, 16 January 2011
A Brief Look at Multi-Purpose Holdings Bhd. (MPHB)
Multi-Purpose Holdings Berhad
Business Description:
Multi-Purpose Holdings Berhad (MPHB) is a Malaysia-based company engaged in investment holding, provision of share registration and management services. The Company, though its subsidiaries, operates in four segments:
Employees: 479
Market Cap: 2,532,707,800
Shares Outstanding: 1,077,748,000
Closely Held Shares: 363,037,361
Estimated EPS for 2011 = 20.1*4/3 = 26.8 sen
At price of 2.35, it is trading at prospective 2011 PE = 2.35 / 0.268 = 8.8 x
Historical
5 Yr
PE range 5.7 - 11.8
DY range 4.5% - 2.2%
10 Yr
PE range 23.7 - 46.7
DY range 2.3% - 1.1%
PRICE DPS EPS
2004 0.0 1.9
2005 0.0 7.5
2006 0.0 15.7
2007 3.3 13.9
2008 7.6 12.8
2009 6.4 30.4
9M10 4.0 20.10 NTA 2.1400
Business Description:
Multi-Purpose Holdings Berhad (MPHB) is a Malaysia-based company engaged in investment holding, provision of share registration and management services. The Company, though its subsidiaries, operates in four segments:
- financial services, which include the provision of credit and related services and underwriting of all classes of general insurance business;
- securities broking and dealing, which include the provision of stock broking services;
- property investment and leisure, which include the ownership of buildings for rental income and
- hotel operation, and gaming, which include the operation and management of a licensed four digit numbers forecast betting game.
Current Price (7/1/2011): 2.35
2009 Sales 3,322,126,000Employees: 479
Market Cap: 2,532,707,800
Shares Outstanding: 1,077,748,000
Closely Held Shares: 363,037,361
| Announcement Date | Financial Yr. End | Qtr | Period End | Revenue RM '000 | Profit/Lost RM'000 | EPS | Amended | ||||||
| 23-Nov-10 | 31-Dec-10 | 3 | 30-Sep-10 | 850,703 | 126,498 | 8.10 | - | ||||||
| 26-Aug-10 | 31-Dec-10 | 2 | 30-Jun-10 | 871,360 | 95,977 | 5.70 | - | ||||||
| 21-May-10 | 31-Dec-10 | 1 | 31-Mar-10 | 992,620 | 105,589 | 6.30 | - | ||||||
| 25-Feb-10 | 31-Dec-09 | 4 | 31-Dec-09 | 874,959 | 148,228 | 10.10 | - | ||||||
Estimated EPS for 2011 = 20.1*4/3 = 26.8 sen
At price of 2.35, it is trading at prospective 2011 PE = 2.35 / 0.268 = 8.8 x
Historical
5 Yr
PE range 5.7 - 11.8
DY range 4.5% - 2.2%
10 Yr
PE range 23.7 - 46.7
DY range 2.3% - 1.1%
PRICE DPS EPS
2004 0.0 1.9
2005 0.0 7.5
2006 0.0 15.7
2007 3.3 13.9
2008 7.6 12.8
2009 6.4 30.4
9M10 4.0 20.10 NTA 2.1400
Capital changes
2003 1/10 Warrant
2009 1/10 Treasury Share
etkl
A Winning Stock Strategy: Sell on the Rumor
MARKETS & FINANCE
January 13, 2011, 5:00PM EST
A Winning Stock Strategy: Sell on the Rumor
Companies named as acquisition targets typically deliver disappointing returns for investors
By Tara Lachapelle
The surest way to profit from takeover speculation in the stock market is to bet it's wrong.
Bloomberg examined 1,875 rumors about pending buyouts of 717 companies from 2005 to 2010 and found a total of 104 of those companies were acquired. While stocks that were the subject of takeover speculation initially jumped, they tended to decline over ensuing weeks. An investor who sold such stocks short—selling borrowed shares in hopes of buying them back at a lower price later—would have earned average profits of 1.2 percent over the next month, an annualized gain of 14 percent.
It's a strategy John S. Orrico has used. "We see it as an opportunity to sell if we think the rumor is false or ridiculous, which in most cases" it is, says Orrico, who focuses on mergers and acquisitions at New York-based Water Island Capital, which oversees about $2.2 billion.
Opportunities to employ the strategy are increasing as the stock market climbs and merger activity picks up. The number of unconfirmed stories about possible mergers surged to 611 last year, a 71 percent increase from 2009, data compiled by Bloomberg from more than 50 news providers and brokerages show.
Stocks tracked by Bloomberg gained 2.9 percent on the day they were mentioned in a takeover story. They fell 0.2 percent, 0.6 percent, and 1.2 percent, on average, in the day, week, and month following a reported rumor. The Standard & Poor's 500-stock index rose 0.03 percent, 0.2 percent, and 0.5 percent, on average, during the same periods. That makes sense to Todd Salamone, an equity analyst at Schaeffer's Investment Research in Cincinnati, who says that by the time market chatter is publicly reported, it's been passed around trading desks via instant messages and e-mail and is usually old news. While "the rumors tend to create a pop," he says, "it's a very short-term event."
Akamai Technologies (AKAM) has been the subject of more buyout rumors than any other U.S. company since the beginning of 2005, Bloomberg research found. The provider of computing services that speed delivery of Internet content remains independent after being named 21 times. The most recent instance was Dec. 16. After rallying 1.7 percent when the speculation was reported, shares of the Cambridge (Mass.) company lost 3.8 percent in the next week, while the S&P 500 gained 1.1 percent. Spokesmen for all the companies in this story mentioned as takeover targets either declined to comment or did not respond to requests for comment.
NetList (NLST), a computer memory systems maker, rose 1.9 percent, to $5.52, when rumors were reported on Dec. 28, 2009 that Microsoft (MSFT) might buy it. The shares declined 2.2 percent a day later, 9.4 percent a week later, and 31 percent in 30 days. "NetList makes memory modules that go into servers, so Microsoft is not the type of company that would want to go and buy them," says Richard Kugele, an equity analyst at Needham & Co. "There's a difference between hardware companies and software companies, and it's just completely outside the bounds of what they do."
Even when they coincide with other bullish signals, rumors usually don't prove accurate. The volume of call options in Jefferies Group (JEF)—giving the holder the right to purchase the stock at a certain price—jumped amid unconfirmed takeover reports on Feb. 27, 2008. A deal never occurred, and Jefferies stock plummeted 3.4 percent the next day and 10 percent the next week. It had fallen a total of 20 percent 30 days later.
Some stocks are acquired after years of speculation. OSI Pharmaceuticals (OSIP) was the subject of takeover talk nine times from 2005 to 2009, and the shares slipped on eight of those occasions. The stock jumped 52 percent on Mar. 1, 2010, the day Tokyo-based Astellas Pharma said it would begin a hostile offer. There's no record of any takeover rumors in the days leading up to the announcement. Astellas bought OSI on June 9.
Many rumors are losers from the start. MetroPCS Communications (PCS), the wireless network, lost 1 percent on Sept. 21, 2009, after a news service reported chatter about a potential bid. The stock fell 34 percent over the next month and 49 percent for all of 2009, when the shares posted the fourth-biggest retreat in the S&P 500.
"The question that remains unanswered is: Where does the takeover story originate?" says Michael McCarty, managing partner at Differential Research in Austin, Tex. "It's most likely from someone who's interested in selling." Deliberately spreading false rumors may violate securities laws, especially if the intent is to sway prices, says James D. Cox, a professor at Duke University School of Law. Proving a market manipulation case is difficult, according to Peter J. Henning, a law professor at Wayne State University and a former federal prosecutor. "You might be able to see a unicorn before you see a market manipulation case established based on rumors," he says, adding that it is difficult to prove that someone started a rumor and then traded on it. "You get lots of investigations announced and very few cases brought," he says.
Overall, Bloomberg found that companies mentioned in takeover rumors were no more likely to be acquired than any other company. The safest strategy might be to avoid investing on gossip entirely. "Don't chase rumor stocks," says Michael Vogelzang, chief investment officer at Boston Advisors. "You never know where you are in the chain, whether you're the first to hear it or the last. You're just playing with fire."
The bottom line: Stocks that are the subject of takeover rumors jump, then fall, making short sales a winning strategy. Ignoring rumors works, too.
Lachapelle is a reporter for Bloomberg News.
http://www.businessweek.com/magazine/content/11_04/b4212036681349.htm?link_position=link1
January 13, 2011, 5:00PM EST
A Winning Stock Strategy: Sell on the Rumor
Companies named as acquisition targets typically deliver disappointing returns for investors
By Tara Lachapelle
The surest way to profit from takeover speculation in the stock market is to bet it's wrong.
Bloomberg examined 1,875 rumors about pending buyouts of 717 companies from 2005 to 2010 and found a total of 104 of those companies were acquired. While stocks that were the subject of takeover speculation initially jumped, they tended to decline over ensuing weeks. An investor who sold such stocks short—selling borrowed shares in hopes of buying them back at a lower price later—would have earned average profits of 1.2 percent over the next month, an annualized gain of 14 percent.
It's a strategy John S. Orrico has used. "We see it as an opportunity to sell if we think the rumor is false or ridiculous, which in most cases" it is, says Orrico, who focuses on mergers and acquisitions at New York-based Water Island Capital, which oversees about $2.2 billion.
Opportunities to employ the strategy are increasing as the stock market climbs and merger activity picks up. The number of unconfirmed stories about possible mergers surged to 611 last year, a 71 percent increase from 2009, data compiled by Bloomberg from more than 50 news providers and brokerages show.
Stocks tracked by Bloomberg gained 2.9 percent on the day they were mentioned in a takeover story. They fell 0.2 percent, 0.6 percent, and 1.2 percent, on average, in the day, week, and month following a reported rumor. The Standard & Poor's 500-stock index rose 0.03 percent, 0.2 percent, and 0.5 percent, on average, during the same periods. That makes sense to Todd Salamone, an equity analyst at Schaeffer's Investment Research in Cincinnati, who says that by the time market chatter is publicly reported, it's been passed around trading desks via instant messages and e-mail and is usually old news. While "the rumors tend to create a pop," he says, "it's a very short-term event."
Akamai Technologies (AKAM) has been the subject of more buyout rumors than any other U.S. company since the beginning of 2005, Bloomberg research found. The provider of computing services that speed delivery of Internet content remains independent after being named 21 times. The most recent instance was Dec. 16. After rallying 1.7 percent when the speculation was reported, shares of the Cambridge (Mass.) company lost 3.8 percent in the next week, while the S&P 500 gained 1.1 percent. Spokesmen for all the companies in this story mentioned as takeover targets either declined to comment or did not respond to requests for comment.
NetList (NLST), a computer memory systems maker, rose 1.9 percent, to $5.52, when rumors were reported on Dec. 28, 2009 that Microsoft (MSFT) might buy it. The shares declined 2.2 percent a day later, 9.4 percent a week later, and 31 percent in 30 days. "NetList makes memory modules that go into servers, so Microsoft is not the type of company that would want to go and buy them," says Richard Kugele, an equity analyst at Needham & Co. "There's a difference between hardware companies and software companies, and it's just completely outside the bounds of what they do."
Even when they coincide with other bullish signals, rumors usually don't prove accurate. The volume of call options in Jefferies Group (JEF)—giving the holder the right to purchase the stock at a certain price—jumped amid unconfirmed takeover reports on Feb. 27, 2008. A deal never occurred, and Jefferies stock plummeted 3.4 percent the next day and 10 percent the next week. It had fallen a total of 20 percent 30 days later.
Some stocks are acquired after years of speculation. OSI Pharmaceuticals (OSIP) was the subject of takeover talk nine times from 2005 to 2009, and the shares slipped on eight of those occasions. The stock jumped 52 percent on Mar. 1, 2010, the day Tokyo-based Astellas Pharma said it would begin a hostile offer. There's no record of any takeover rumors in the days leading up to the announcement. Astellas bought OSI on June 9.
Many rumors are losers from the start. MetroPCS Communications (PCS), the wireless network, lost 1 percent on Sept. 21, 2009, after a news service reported chatter about a potential bid. The stock fell 34 percent over the next month and 49 percent for all of 2009, when the shares posted the fourth-biggest retreat in the S&P 500.
"The question that remains unanswered is: Where does the takeover story originate?" says Michael McCarty, managing partner at Differential Research in Austin, Tex. "It's most likely from someone who's interested in selling." Deliberately spreading false rumors may violate securities laws, especially if the intent is to sway prices, says James D. Cox, a professor at Duke University School of Law. Proving a market manipulation case is difficult, according to Peter J. Henning, a law professor at Wayne State University and a former federal prosecutor. "You might be able to see a unicorn before you see a market manipulation case established based on rumors," he says, adding that it is difficult to prove that someone started a rumor and then traded on it. "You get lots of investigations announced and very few cases brought," he says.
Overall, Bloomberg found that companies mentioned in takeover rumors were no more likely to be acquired than any other company. The safest strategy might be to avoid investing on gossip entirely. "Don't chase rumor stocks," says Michael Vogelzang, chief investment officer at Boston Advisors. "You never know where you are in the chain, whether you're the first to hear it or the last. You're just playing with fire."
The bottom line: Stocks that are the subject of takeover rumors jump, then fall, making short sales a winning strategy. Ignoring rumors works, too.
Lachapelle is a reporter for Bloomberg News.
http://www.businessweek.com/magazine/content/11_04/b4212036681349.htm?link_position=link1
Global Stock Markets Increase By 26% In 2010
Global Stock Markets Increase By 26% In 2010
By Mark Perry on January 15, 2011
The World Federation of Exchanges reported this week that the total value of equities trading on the world’s major stock exchanges reached $54.9 trillion in December, the highest world stock market capitalization since May 2008 (see chart above). During 2010 the world stock market value increased by 26%, or by $11.3 trillion over the 12-month period, from $43.6 trillion in December 2009. From the February 2009 cyclical low of $26.6 trillion, world equity values have more than doubled, and have gained back about $28.3 trillion of the $36.4 trillion lost during 2008 because of the global financial crisis.
Further evidence of a global stock market recovery is shown in the chart below of the daily MSCI World Stock Market Index, which closed yesterday at 1308, the highest closing value since early September 2008.
http://www.dailymarkets.com/economy/2011/01/15/global-stock-markets-increase-by-26-in-2010/
By Mark Perry on January 15, 2011
The World Federation of Exchanges reported this week that the total value of equities trading on the world’s major stock exchanges reached $54.9 trillion in December, the highest world stock market capitalization since May 2008 (see chart above). During 2010 the world stock market value increased by 26%, or by $11.3 trillion over the 12-month period, from $43.6 trillion in December 2009. From the February 2009 cyclical low of $26.6 trillion, world equity values have more than doubled, and have gained back about $28.3 trillion of the $36.4 trillion lost during 2008 because of the global financial crisis.
Further evidence of a global stock market recovery is shown in the chart below of the daily MSCI World Stock Market Index, which closed yesterday at 1308, the highest closing value since early September 2008.
http://www.dailymarkets.com/economy/2011/01/15/global-stock-markets-increase-by-26-in-2010/
Saturday, 15 January 2011
A Brief Look at Boustead Holdings Bhd.
Boustead Holdings Berhad
Business Description:
Boustead Holdings Berhad is engaged in investment holding and oil palm cultivation. It operates in seven segments:
Current Price (1/7/2011): 5.54
2009 Sales 5,392,000,000
Employees: 8,022
Market Cap: 5,208,497,480
Shares Outstanding: 940,162,000
Closely Held Shares: 568,935,789
Estimated EPS for 2011 = 35.21*4/3 = 46.9 sen
At price of 5.54, it is trading at prospective 2011 PE = 5.54 / 0.469 = 11.8 x
Dividend given to date = 27 sen
DY to date = 0.27 / 5.54 = 4.9%
Historical
5 Yr
PE range 7.7 - 13.5
DY range 7.9% - 4.0%
10 Yr
PE range 7.4 - 11.9
DY range 6.3% - 3.6%
Year DPS EPS
2003 4.2 18.7
2004 9.0 24.7
2005 10.5 16.2
2006 10.5 8.8
2007 12.3 55.0
2008 20.2 66.9
2009 20.4 36.4
9M10 27.0 35.21 NTA 4.35
Business Description:
Boustead Holdings Berhad is engaged in investment holding and oil palm cultivation. It operates in seven segments:
- Plantation, which is involved in the planting and processing of oil palm, and forestry and oil bulking installations;
- Heavy Industries, which is involved in shipbuilding, fabrication of offshore structures, and repair and maintenance of vessels and defense related products;
- Property Development;
- Property Investment;
- Finance and Investment, which is involved in the provision of commercial, Islamic and investment banking services, money broking and others;
- Trading, which is involved in warehousing and distribution of fast moving consumer products, and
- Manufacturing and Services, which is involved in manufacturing cellulose fiber cement boards and paints, and offering travel and tour related products.
2009 Sales 5,392,000,000
Employees: 8,022
Market Cap: 5,208,497,480
Shares Outstanding: 940,162,000
Closely Held Shares: 568,935,789
| 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 | 1,513,900 | 124,600 | 9.77 | - | ||||||
| 23-Aug-10 | 31-Dec-10 | 2 | 30-Jun-10 | 1,425,000 | 161,400 | 15.68 | - | ||||||
| 31-May-10 | 31-Dec-10 | 1 | 31-Mar-10 | 1,553,100 | 104,200 | 9.75 | - | ||||||
| 25-Feb-10 | 31-Dec-09 | 4 | 31-Dec-09 | 1,481,066 | 179,322 | 16.20 | - | ||||||
Estimated EPS for 2011 = 35.21*4/3 = 46.9 sen
At price of 5.54, it is trading at prospective 2011 PE = 5.54 / 0.469 = 11.8 x
Dividend given to date = 27 sen
DY to date = 0.27 / 5.54 = 4.9%
Historical
5 Yr
PE range 7.7 - 13.5
DY range 7.9% - 4.0%
10 Yr
PE range 7.4 - 11.9
DY range 6.3% - 3.6%
Year DPS EPS
2003 4.2 18.7
2004 9.0 24.7
2005 10.5 16.2
2006 10.5 8.8
2007 12.3 55.0
2008 20.2 66.9
2009 20.4 36.4
9M10 27.0 35.21 NTA 4.35
Capital changes
2003 1/2 Rights @ RM 1.60 followed by 1/3 Bonus
2009 2/5 Rights @ RM 2.80
Also read;
A Brief Look at Integrax
Integrax Berhad Company
Business Description:
Integrax Berhad is a Malaysia-based investment holding company. The Company, through its subsidiaries, operates in five segments:
Current Price (7/1/2011): 1.72
2009 Sales 91,055,758
Employees: 14
Market Cap: 517,386,320
Shares Outstanding: 300,806,000
Closely Held Shares: 156,655,772
Estimated EPS for 2011 = (3.68+4.56+2.96)*4/3 = 11.2*4/3 = 14.93 sen
At price of 1.72, it is trading at a prospective 2011 PE = 1.72 / 0.1493 = 11.5 x
Historical
5 Yr
PE range 5.3 - 9.4
DY range 2.6% - 1.2%
10 Yr
PE range 7.4 - 14.5
DY range 1.3% - 0.6%
Year DPS EPS
2004 0.0 8.7
2005 0.0 9.2
2006 2.0 11.9
2007 1.7 12.2
2008 2.0 -1.0
2009 0.0 12.3
9M10 0.0 11.20 NTA 1.79
Business Description:
Integrax Berhad is a Malaysia-based investment holding company. The Company, through its subsidiaries, operates in five segments:
- port operations,
- marine services,
- investment holding,
- industrial property and
- mining.
- Lumut Maritime Terminal, which is a port facility for dry and liquid bulk, breakbulk and containers, and
- Lekir Bulk Terminal, which is a port facility for dry and liquid bulk comprising Lumut Port.
2009 Sales 91,055,758
Employees: 14
Market Cap: 517,386,320
Shares Outstanding: 300,806,000
Closely Held Shares: 156,655,772
| 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 | 24,918 | 12,526 | 3.68 | - | ||||||
| 26-Aug-10 | 31-Dec-10 | 2 | 30-Jun-10 | 23,483 | 15,198 | 4.56 | - | ||||||
| 04-Jun-10 | 31-Dec-10 | 1 | 31-Mar-10 | 23,023 | 10,372 | 2.96 | - | ||||||
| 27-May-10 | 31-Dec-10 | 1 | 31-Mar-10 | 23,023 | 10,372 | 2.96 | - | ||||||
Estimated EPS for 2011 = (3.68+4.56+2.96)*4/3 = 11.2*4/3 = 14.93 sen
At price of 1.72, it is trading at a prospective 2011 PE = 1.72 / 0.1493 = 11.5 x
Historical
5 Yr
PE range 5.3 - 9.4
DY range 2.6% - 1.2%
10 Yr
PE range 7.4 - 14.5
DY range 1.3% - 0.6%
Year DPS EPS
2004 0.0 8.7
2005 0.0 9.2
2006 2.0 11.9
2007 1.7 12.2
2008 2.0 -1.0
2009 0.0 12.3
9M10 0.0 11.20 NTA 1.79
Capital changes
Nil
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