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.

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.

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 691,847,000
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%

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:

1. Generation Division, 
2. Transmission Division and 
3. Distribution Division. 

The Company also manages and operates a transmission network-the National Grid. Spanning the peninsular, the grid links TNB power stations and IPPs to the distribution network. The grid is also interconnected to Thailand's transmission system in the North and Singapore's transmission system in the South. TNB is also involved in diversified activities linked to the power industry. Through its subsidiaries, the Company is in the manufacture of transformers, high voltage switchgears and cables; the provision of professional consultancy services; architectural, civil, electrical engineering works and services, repair and maintenance; as well as in research and development; property development, and management services.

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

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:

1. vessels manufacturing and repairing services, which include fabrication and sale of marine transportation vessels and provision of ship repairs and maintenance services, and 
2. vessels chartering and equipment hire, which include the provision of vessels transportation and equipment hiring services. 

Its subsidiaries are Bonafile Shipbuilders & Repairs Sdn. Bhd., Coastal Transport (Sandakan) Sdn. Bhd., Coastway Transport Sdn. Bhd., Seri Modalwan Sdn. Bhd., Pleasant Engineering Sdn. Bhd., Coastal Marine Pte. Ltd., Coastal Marine Pte. Ltd., Coastal Offshore (Labuan) Pte. Ltd., Asiapride Sdn. Bhd.Thaumas Marine Ltd and Ace Capital Pte. Ltd. Operations are carried out in Malaysia, Indonesia and Singapore.

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

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:

1. automotive; 
2. equipment, which supplies marine engine, material handling and compressed air equipment; 
3. manufacturing and engineering, which provides engineering solutions to automotive components, transportation, petrochemicals, oleochemicals, and oil and gas industries; 
4. oil and gas, and others. 

Its oil and gas segment includes five upstream activities: manufacture of oil country tubular goods and line pipes; oil and gas exploration operations; fabrication of oil and gas structures; provision of oilfield services, and supply of oilfield products. The operations of UMW are carried out in Malaysia, Australia, China, Hong Kong, India, Indonesia, Myanmar, Oman, Papua New Guinea, Singapore, Taiwan, Thailand, Turkmenistan and Vietnam. During the year ended December 31, 2009, UMW sold 248,521 units of Toyota and Perodua vehicles.

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:

1. trading, which is engaged as suppliers and retailers of jewelries, precious stones and gold ornaments; 
2. manufacturing, which is engaged as a manufacturer and dealers of jewelries, precious stones and gold ornaments, and 
3. others, which includes investment holding. 

Its products are divided into two main categories: viz gold and gemset jewelries. The Company's jewelry products include Koleksi Anggun, Tranz collection, Angel collection, Diamond collection, Disney collection, Festival collection, Romance collection, Gold Bar collection and Impressionism. On October 14, 2009, through Poh Kong International Sdn Bhd, a wholly owned subsidiary, the Company had disposed off its equity interest in its subsidiary, Poh Kong Diamond Industry Limited. The Company's ultimate holding company is Poh Kong Sdn Bhd.

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:

1. commercial banking and hire purchase, 
2. investment banking, 
3. stock-broking, 
4. insurance and 
5. others. 

The Commercial Banking and Hire Purchase segment focuses on business of banking in all aspects which includes Islamic Banking operations. Investment banking segment includes business of a merchant bank, discount house, fund and unit trusts management. Stock-broking segment comprises institutional and retail broking business for securities listed on the Bursa Malaysia Securities Berhad, investment management and research services. The insurance segment includes the business of underwriting all classes of general and life insurance businesses in Malaysia. Other business segments in the Group include operation of investment holding companies, money-broking, insurance-broking and other related financial services. Operations are carried out in Malaysia.

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%

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

1. consumer banking, 
2. business and corporate banking, 
3. global market, 
4. investment banking,
5. insurance and asset management and 
6. international banking. 

Its global market segment comprises the full range of products and services relating to treasury activities and services, including foreign exchange, money market, derivates and trading of capital market instruments. Its investment banking segment comprises the business of an investment bank, discount house and securities broker. Its insurance and asset management segment comprises the business of underwriting all classes of general and life insurance, offshore investment life insurance, general takaful and family takaful, asset and fund management, nominee and trustee services and custodian services.

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%

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

Petronas Dagangan - A stock par excellence

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

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

-----

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

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


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

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

A Brief Look at 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:

• 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. 

It has six subsidiaries, namely Sabah Ports Sdn. Bhd., Suria Bumiria Sdn. Bhd., SCHB Engineering Services Sdn. Bhd., S.P. Satria Sdn. Bhd., S.P. Satria Logistics Sdn. Bhd. and Tricubes Suria Sdn. Bhd.

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.

A Brief Look at Tongher

2003 EPS 16.2 DPS 5.3
2004 EPS 35.4 DPS 14.0
2005 EPS 23.4 DPS 12.1
2006 EPS 43.7 DPS 13.0
2007 EPS 51.0 DPS 10.2
2008 EPS 14.4 DPS 13.9
2009 EPS 6.60 DPS 5.00
9M10 EPS 14.50 DPS 5.00

Price RM 2.73 (7.1.2011)
Estimated EPS for 2011 14.50*4/3 = 19.33
Projected PE for 2011 = 14.1 x

Historical
5 Yr
PE 10.7 - 17.4
DY% 5.8 - 3.1

10 Yr
PE 9.0 - 15.1
DY% 6.6 - 3.7

Capital Change

2007 1/2 Bonus

Comment:

Tongher is a cyclical stock.  Given the cyclical business that it is in, its share price has fluctuated wildly largely determined by its business cycle and the challenging environment.  It's share price has gone down a lot during the recent global financial crisis due to poor profits.  Its latest NTA per share was RM 2.29.

Since the company has remained profitable, its assets are generating profits and its balance sheet is not harmed or eaten away by toxic assets.  One can expect its profits to normalise and also its new investments to generate additional summative profits given time.

The high PE of Tongher during the early part of the global financial crisis was due to the fact that its profits fell faster than its share price.  With its profits recovering, its high PE is contracting, as its profits are growing at a faster rate than its share price.


Those holding this stock can expect to see real upside in the share price of Tongher over time.


Related:

Are Cyclical stocks also Value stocks? Value stocks usually earn money, turnaround stocks may not.

A Brief Look at Nestle (M) Bhd.

2006 EPS 112.7 DPS 95.0
2007 EPS 124.5 DPS 100.0
2008 EPS 145.4 DPS 190.0
2009 EPS 150.0 DPS 130.0
9M10 EPS 150.17 DPS -

Price RM 44.48 (7.1.2011)
Estimated EPS for 2011 150.17*4/3 = 200.23
Projected PE for 2011 =  22.2 x

Historical
5 Yr
PE 18.1 - 23.7
DY% 5,.1 - 3.9

10 Yr
PE 20.9 - 25.2
DY%  4.6 - 3.8

A Brief Look at LPI Capital Bhd.

2006 EPS 33.8 DPS 32.4

2007 EPS 38.0 DPS 48.2

2008 EPS 45.1 DPS 48.8

2009 EPS 54.5 DPS 40.5

2010 EPS 63.83 DPS 55.0

Price RM 13.96 (13.01.2011)

Estimated EPS for 2011 63.83*1.10 = 70.213

Projected PE for 2011 = 19.9 x

Historical

5 Yr

PE 11.6 - 17.5

DY% 7.8 - 5.1

10 Yr

PE 11.2 - 16.4

DY% 6.9 - 4.7

Capital Changes

2010 1/2 Bonus, 1/10 Rights @ RM 7.00

A Brief Look at Guinness Anchor Berhad (Malaysia)

2006 EPS 42.4 DPS 30.2

2007 EPS 37.3 DPS 32.9

2008 EPS 41.7 DPS 36.4

2009 EPS 47.0 DPS 41.0

2010 EPS 50.54 DPS 45.0

1Q11 EPS 12.81 DPS -

Price RM 11.00 (13.1.2011)

Estimated EPS 2011 = 4*12.81 = 51.24

Projected PE for 2011 = 21.5 x

Historical

5 Yr 

PE 12.2 - 16.0

DY 7.0% - 5.3%

10 Yr

PE 12.9 - 16.6

DY 7.5% - 5.8%

A Brief Look at Public Bank Berhad

2006 EPS O.518 DIV 0.60

2007 EPS 0.605 DIV 0.75

2008 EPS 0.731 DIV 0.55

2009 EPS 0.713 DIV 0.55

1H10 EPS 0.402 DIV 0.25

9M10 EPS 0.623 DIV -

Price 13.54 (7.1.2011)

Estimated EPS for 2010 =  4*0.623 / 3 = 0.831

Projected PE = 16.3 x

Historical 

5 Yr PE 11.5 - 16.2

10 Yr PE 11.8 - 16.7

Capital Changes

2009 1/35 Treasury Share Distribution

2010 1/68 Treasury Share Distribution

A Brief Look at Petronas Dagangan

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

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

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

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

 

Capital Changes:  2005 1/1 Bonus