KFIMA-(6491) - RM1.58

What will be the share price if the following happened for coming 1-2 years ?


Year EPS (sen) DPS (sen)
2010 22.32 5.00 9M2010 EPS = 19.86, estimated 12M2010 EPS= atleast 25 sen
2011 25.00 10.00* *estimation
2012 30.00 15.00*



KFIMA 3 Years P/L Track Record:

PROFIT & LOSS	@ 2010-03-31	@ 2009-03-31	@ 2008-03-31
CURRENCY	MYR	MYR	MYR
TURNOVER	410,447	369,070	308,712
OPERATING PROFIT	108,538	74,770	55,279
PROFIT/LOSS BEFORE TAX	115,726	81,193	56,862
NET PROFIT/LOSS TO SHAREHOLDERS	58,749	46,160	30,287
( Inclusive of )
Depreciation	(19,451)	(16,346)	(14,467)
Interest	(4,163)	(4,976)	(3,828)
Taxation	(29,293)	(10,566)	(13,588)
*All figures in '000
GROSS EPS (CENT/SEN)	22.32	17.54	11.51
DIVIDEND CURRENCY	MYR	MYR	MYR
GROSS DIVIDEND	0.05	0.03	0.03

Note: Cash balance approximately RM200 million or cash per share of RM0.76 and still building up because of cash dividend flow in from FIMACOR (3107) and consistent earning from plantation segment.


Target Price:
1. RM2.00 based on 8x PER for FY2011
2. RM2.00 based on dividend yield of 5% based on 10 sen dividend payout in 2011
3. RM2.00 - RM2.50 based on dividend yield of 5% if dividend payout 15 sen in year 2012.

GOOD LUCK!