Financial Result Released Today:-
Info : Equity = RM263,160,000
Minority Interest = RM162,678,000
1.) EPS of 7.63 sen. (excluding minority interest portion)
2) Cash position increase to RM204 million ( net cash position with amount up to RM150 million. AND the cash position WILL continue to grow at steady pace.
3) Stable business model. Two major business segments :-
a) Security documents - monopoly business
b) Plantation - solid commodity business
Annualised EPS of 30 sen and net cash position should be able to attract more mid to long term investors to look into this company with target price at least RM2.50.
Monday, February 28, 2011
Friday, February 25, 2011
KFIMA-6491 ..GOOD BUY!
KFIMA subsidiary FIMACOR reported outstanding result for its 3rd quarter result. Therefore, estimate FIMACOR will contribute around RM14 million profit to KFIMA. If add other business segment e.g plantation (expect to be better result thant last quarter), I think for last quarter, KFIMA can reported EPS of at least 7.4 sen ( annualised EPS of 0.25-0.29 sen).
Target price of RM2.00 given based PER 8x based of EPS of RM0.25. For higher band can move up to RM2.50-RM3.00 for mid-term target.
Target price of RM2.00 given based PER 8x based of EPS of RM0.25. For higher band can move up to RM2.50-RM3.00 for mid-term target.
Sunday, February 20, 2011
Invest Indonesia - Banking Industry - Bank Tabungan Negara
Stock Code: BBTN.JK Listing Date : 17-12-2009
Share Price : Rp1,340 (18-2-2011)
Pemilik # Lembar Saham %
Pemerintah 6.354.000.000 = 72.92%
Publik 2.360.057.000 = 27.08%
- Domestik 842.313.533 = 35.69%
- Asing 1.517.743.467 = 64.31%
Financial Result for FY2010:-
1. EPS Rp93 ( net profit Rp784,833 million)
2. Rank number 10th bank in Indonesia.
3. Expect 2011 EPS of Rp126
Target Price :
Level 1 = Rp1600
Level 2 = Rp1850
Level 3 = Rp 2250
Based on assumption earning growth rate of 25%-30% for year 2011 and PER range between 14x-18x.
START TO ACCUMULATE AT THIS LEVEL AND POTENTIALLY TO MAKE 25% FOR 3-6 MONTHS PERIOD.
Share Price : Rp1,340 (18-2-2011)
Pemilik # Lembar Saham %
Pemerintah 6.354.000.000 = 72.92%
Publik 2.360.057.000 = 27.08%
- Domestik 842.313.533 = 35.69%
- Asing 1.517.743.467 = 64.31%
Financial Result for FY2010:-
1. EPS Rp93 ( net profit Rp784,833 million)
2. Rank number 10th bank in Indonesia.
3. Expect 2011 EPS of Rp126
Target Price :
Level 1 = Rp1600
Level 2 = Rp1850
Level 3 = Rp 2250
Based on assumption earning growth rate of 25%-30% for year 2011 and PER range between 14x-18x.
START TO ACCUMULATE AT THIS LEVEL AND POTENTIALLY TO MAKE 25% FOR 3-6 MONTHS PERIOD.
Saturday, February 19, 2011
Invest Indonesia:- CIMB-NIAGA..Better Financial Result
Share Price : Rp1850 (18-2-2011) Stock Code : BNGA.JK ( Yahoo finance)
CIMB Niaga reported its FY2010 result as follows:
1. EPS qoq increase by 31.48% (expect to grow at this pace for another 1-2year)
2. FY2010 EPS of Rp106.46 (current share price trading at 17.4x PE)
3. Expect EPS for FY2011 grow by at least 20%-30%. Therefore, Target price for 2011 is Rp2035 - Rp2200.
Comments:
Recap on my call on CIMB Niaga for Post dated 18-12-2010. Accumulate for level below Rp1900-Rp1560 because CIMB Niaga being the 5th largest bank in Indonesia will be able to perform better for coming 1-2 years. Secondly, only country with huge population can provide strong growth rate and I like that kind of MOMENTUM.
TARGET PRICE = Rp2,200:-
1. If the average purchase price is Rp1700 - +29% UPSIDE
2. If the average purchase price is Rp1800- +23.5% UPSIDE
Trading opportunities in Indonesia market:
The daily volume traded in Indonesia is at least 3-4 higher than Malaysia share market. Therefore, certain active counter like CIMB Niaga may provide good short term trading opportunity for investor to make some money.
Example: share price from Jan 2011 - 18 February 2011 :
Lowest = Rp1,440 ( 20-1-2011)
Highest = Rp2050 ( 14-2-2011)
Buy 100,000 shares @ Rp1600 ( RM55,200)
Sell 100,000 shares @Rp2000 ( RM67,600)
Profit = RM12,400 ( +22% return )
Currency Rate : RM1 = Rp2930
CIMB Niaga reported its FY2010 result as follows:
1. EPS qoq increase by 31.48% (expect to grow at this pace for another 1-2year)
2. FY2010 EPS of Rp106.46 (current share price trading at 17.4x PE)
3. Expect EPS for FY2011 grow by at least 20%-30%. Therefore, Target price for 2011 is Rp2035 - Rp2200.
Comments:
Recap on my call on CIMB Niaga for Post dated 18-12-2010. Accumulate for level below Rp1900-Rp1560 because CIMB Niaga being the 5th largest bank in Indonesia will be able to perform better for coming 1-2 years. Secondly, only country with huge population can provide strong growth rate and I like that kind of MOMENTUM.
TARGET PRICE = Rp2,200:-
1. If the average purchase price is Rp1700 - +29% UPSIDE
2. If the average purchase price is Rp1800- +23.5% UPSIDE
Trading opportunities in Indonesia market:
The daily volume traded in Indonesia is at least 3-4 higher than Malaysia share market. Therefore, certain active counter like CIMB Niaga may provide good short term trading opportunity for investor to make some money.
Example: share price from Jan 2011 - 18 February 2011 :
Lowest = Rp1,440 ( 20-1-2011)
Highest = Rp2050 ( 14-2-2011)
Buy 100,000 shares @ Rp1600 ( RM55,200)
Sell 100,000 shares @Rp2000 ( RM67,600)
Profit = RM12,400 ( +22% return )
Currency Rate : RM1 = Rp2930
Sunday, February 13, 2011
Invest Indonesia - Telco Industry - XL Axiata
XL Axiata :
Stock Code : EXCL.JK Price = Rp 5,200
No of Shares : 8,508,000,000
Background:-
PT XL Axiata Tbk. ('XL') was established on 8 October 1989, under the name
PT Grahametropolitan Lestari. Its main business was in trading and general services.
Six years later, XL took an important step by setting up a partnership with Rajawali
Group - a shareholder of PT Grahametropolitan Lestari - and three foreign investors
(NYNEX, AIF and Mitsui). Its name was changed to PT Excelcomindo Pratama, with the
provisioning of basic telephony services as its core business.
XL commenced commercial operations in 1996, primarily covering Jakarta, Bandung and
Surabaya areas. This made XL the first private company in Indonesia to provide
cellular mobile telephony services.
September 2005 was a major milestone for the Company. Upsizing on all fronts, XL
became a public company listed on the Jakarta Stock Exchange [now known as the
Indonesia Stock Exchange (IDX)]. Currently, the majority of XL's shares are held by
Axiata Group Berhad ('Axiata') through Indocel Holding Sdn. Bhd. (66.7%) and
Emirates Telecommunications Corporation (Etisalat) through Etisalat International
Indonesia Ltd. (13.3%).
XL is now leading the industry as a cellular telecommunications provider with
extensive coverage throughout Indonesia. It provides services for retail customers
and offers business solutions for corporate customers, including voice, data and
other value-added mobile telecommunications services. XL operates its network with
GSM 900/DCS 1800 and IMT-2000/3G technologies. XL also holds a Closed Regular
Network License, Internet Service Provider (ISP) License, Voice over Internet
Protocol (VoIP) License, and Internet Interconnection Services License (NAP).
Other Information:-OPERATING MEASURES
Number of Employees (permanent & contract with permanent position) =2 ,360
Postpaid subscribers (000) =290
Prepaid sim cards (active and grace / million) =40.1
Total subscriber base (millio)= 40.4 ( rank 3rd place after TLKM and Indosat)
ARPU blended (Rp 000) =34
Postpaid revenue/sub (Rp 000) =192
Prepaid revenue/sim card (Rp 000) = 32
Financial Highlight For Fy2010:- (as at 31-1-2011)
1. EPS : Rp 237 (FY09) > Rp 340 (FY10) + 43%
2. Total Asset = Rp 27,251 billion ( RM9.3 billion)
3. Total Liabilities = Rp 18,577 ( RM6.3 billion)
4. Equity = Rp 8,803 (RM 3 billion )
5. Dividend payout policy= 30% of normalised EPS
Comments:
a) Expect earning growth rate of minimum 20% for FY2011.
b) Increase in subscriber base and prepaid and postpaid revenue due to increase in income.
c) Expect record EPS for FY2011= Rp380 - Rp400
d) Target price = Rp6080 - Rp6400 based on 16x PER for Fy2011 ( upside 23% )
e) Therefore, any adjustment below Rp5000 will provide good opportunity to accumulate this counter.
Another Counter To Consider : TLKM.JK , Largest telco company in Indonesia. 52.47% owned by Indonesia government
1. Price = Rp7,600, Target Price 11,200 based on 16X PER of FY2011. (upside 47%)
2. Expected EPS FY2011 = Rp700
Stock Code : EXCL.JK Price = Rp 5,200
No of Shares : 8,508,000,000
Background:-
PT XL Axiata Tbk. ('XL') was established on 8 October 1989, under the name
PT Grahametropolitan Lestari. Its main business was in trading and general services.
Six years later, XL took an important step by setting up a partnership with Rajawali
Group - a shareholder of PT Grahametropolitan Lestari - and three foreign investors
(NYNEX, AIF and Mitsui). Its name was changed to PT Excelcomindo Pratama, with the
provisioning of basic telephony services as its core business.
XL commenced commercial operations in 1996, primarily covering Jakarta, Bandung and
Surabaya areas. This made XL the first private company in Indonesia to provide
cellular mobile telephony services.
September 2005 was a major milestone for the Company. Upsizing on all fronts, XL
became a public company listed on the Jakarta Stock Exchange [now known as the
Indonesia Stock Exchange (IDX)]. Currently, the majority of XL's shares are held by
Axiata Group Berhad ('Axiata') through Indocel Holding Sdn. Bhd. (66.7%) and
Emirates Telecommunications Corporation (Etisalat) through Etisalat International
Indonesia Ltd. (13.3%).
XL is now leading the industry as a cellular telecommunications provider with
extensive coverage throughout Indonesia. It provides services for retail customers
and offers business solutions for corporate customers, including voice, data and
other value-added mobile telecommunications services. XL operates its network with
GSM 900/DCS 1800 and IMT-2000/3G technologies. XL also holds a Closed Regular
Network License, Internet Service Provider (ISP) License, Voice over Internet
Protocol (VoIP) License, and Internet Interconnection Services License (NAP).
Other Information:-OPERATING MEASURES
Number of Employees (permanent & contract with permanent position) =2 ,360
Postpaid subscribers (000) =290
Prepaid sim cards (active and grace / million) =40.1
Total subscriber base (millio)= 40.4 ( rank 3rd place after TLKM and Indosat)
ARPU blended (Rp 000) =34
Postpaid revenue/sub (Rp 000) =192
Prepaid revenue/sim card (Rp 000) = 32
Financial Highlight For Fy2010:- (as at 31-1-2011)
1. EPS : Rp 237 (FY09) > Rp 340 (FY10) + 43%
2. Total Asset = Rp 27,251 billion ( RM9.3 billion)
3. Total Liabilities = Rp 18,577 ( RM6.3 billion)
4. Equity = Rp 8,803 (RM 3 billion )
5. Dividend payout policy= 30% of normalised EPS
Comments:
a) Expect earning growth rate of minimum 20% for FY2011.
b) Increase in subscriber base and prepaid and postpaid revenue due to increase in income.
c) Expect record EPS for FY2011= Rp380 - Rp400
d) Target price = Rp6080 - Rp6400 based on 16x PER for Fy2011 ( upside 23% )
e) Therefore, any adjustment below Rp5000 will provide good opportunity to accumulate this counter.
Another Counter To Consider : TLKM.JK , Largest telco company in Indonesia. 52.47% owned by Indonesia government
1. Price = Rp7,600, Target Price 11,200 based on 16X PER of FY2011. (upside 47%)
2. Expected EPS FY2011 = Rp700
Wednesday, February 2, 2011
Traderszone4U Portfolio Update
| SINCE:25-10-2010 | |||||||
| CAPITAL (RM) | RM250,000 | TO-DATE RETURN: 6.62% | |||||
| Company | Quantity | Ave Cost | Current Price | +/- | Mkt Value | P/ L | Change in % |
| 2-2-2011 | |||||||
| CIMB NIAGA | 50,000 | 0.547 | 0.6290 | 0.08 | 31,220 | 3,659 | 13.28 |
| AEONCR | 10,000 | 3.700 | 3.8400 | 0.14 | 38,119 | 849 | 2.28 |
| GAMUDA | 20,000 | 3.810 | 3.8700 | 0.06 | 76,834 | 77 | 0.10 |
| KFIMA | 30,000 | 1.550 | 1.7400 | 0.19 | 51,818 | 5,318 | 11.44 |
| SHARES | (1) | 197,991 | 9,904 | 5.27 | |||
| TRUST BALANCE | (2) | 61,912 | |||||
| REALISED GAIN | 6,646 | 6,646 | |||||
| TOTAL SHARES AND CASH ( B+C ) | (3)=(1)+(2) | 266,550 | 16,550 | 6.62 | |||
| - | |||||||
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