Any share premium account in the books

Njue... does the numbers support split and/or bonus capital

House and kcchong.. I want to thank both for pointing out Fibon.
Got some pocket money

Bsn .. fatinvest I got limited knowledge now in reading Mandarin. There goes my MCA days wt TKS. All killed by Pan El debacle n by apanama.

Actually I learn mandarin and bahasa from ong tee keat.

Fatinvest I suspect she is the same lady in her early sixties now.

Bsn .. haha teo chew nang.. woi hiao ta

Ya. Still Keeping half my initial.
Sold a bit of fibon this am

Fatinvest.. heard of iron lady in JKR
Invest.. wow pan el... Lol

lan si

Bro Matrix, thanks for the note.
Ms Hua covers all parts of China?

Lijiang would be a good place for breaks and getaways esp spring and autumn.

Bro Matrix, if you did Xian in your holidays, I would be keen to know.
Just got back from 5 day break in mountainous Li Jiang, Kunming

kcloh, scomien, *wink*

mcbaao,,, accum. since two weeks ago

Small capital base.

Anybody here has the TA readings for this counter? i saw accumulation past week or so

kcchongnz, you are damn good la, closed 4.99
Your valuation of 4.55 is history.

Posted by kcchongnz > Dec 5, 2012 08:13 PM | Report Abuse

tonylim, for you I worked until so late (1.12am here) to come up with a valuation for Apollo. Here is it.
First of all, I like consumer food business. Apollo has a good business with a very healthy balance sheet and consistent good cash flows. The only question is whether Apollo’s business has good earnings and any growth potential. The following table shows the performance of Apollo in the last 7 years.
Year 2012 2011 2010 2009 2008 2007 2006
Revenue 200548 176292 159531 175337 181144 154272 142370
EBIT 28593 22578 32249 25442 24363 30105 26365
NI 21741 17855 24678 20918 20973 24554 20761
EPS,sen 27.18 22.32 30.85 26.15 26.22 30.69 25.95
Profit margin 10.8% 10.1% 15.5% 11.9% 11.6% 15.9% 14.6%
ROE 10.1% 8.6% 12.1% 11.1% 11.8% 14.4% 12.9%
*Value in thousands
It can be seen that revenue grew moderately at a rate of 6% a year from 2006 to 2012. Net profit however has been flattish. If we were to base on these data to value Apollo, I would say Apollo is fully valued at the close of RM3.33 per share today.
Graham valuation would give a value of 0.272*(8.5+2*6%)*4.4/4.0=RM2.58. Basing on average ROE, another valuation would be 12%/10%*2.69=RM3.23. Where 8.5 is the PE ratio, 4.0is the long-term MGS rate, 6% is the growth rate, 10% is my required return and 2.69 is the NAB of Apollo.
However, if you look carefully at its last four quarters’ performance, one can see clearly that revenue and profit has been increasing steadily quarter on quarter. For the first quarter 2013 results, revenue and net profit has improved by 19% and 151% respectively on increased turnover and cost cutting.
Basing on the earnings before interest and tax for the trailing twelve month of 34.4 m, the assumptions of 10% required return and a growth rate of 8% for the next 5 years and 3% subsequently; a discount cash flows analysis shows that Apollo’s ordinary business is worth RM3.84 per share. Adding the excess cash of 71 sen, the intrinsic value of Apollo is RM4.55 or a margin of safety of 27% over its RM3.33 share price today.
The question is if the 8% growth rate is reasonable. It is in my opinion basing on its last 4 quarters of performance. If not what happen? Then the valuation is wrong, obviously.

This is a rush job. Hope to have critical comments from anyone.

Actually they are taking the Malays to holland. In a function meant to help them to usaha in business he instead teach them to hate citizens of another race.

.

Fortune yr prolexus 92 sen.
Come come still waiting yr rm1.00 margin counter.
I got 7 digit capital

Supermax mahsing TA ...

Fortunebull Mari mari tok kok

Sure

You are the best?

Sure you win some you lose some.

Alex, I too missed out big time on inari not only on "single customer issue" but also there was a call for loan stocks during its initial proposal annlounced.

roll over

LOL tj, cld be case of lull before the storm.
The other counter is Freight. Similar moves.

A billion dollar club member

You deserve to loose money by your own doing.
Such an attitude better to play shares la.

go for a walk. Nothing to say, better keep quiet than to blame others for you trades. kanneeneh.

fortunebull, you sit behind your computer to talk about now... today.
why not tell me about which counter to buy/sell in the afternoon session and next monday and tuesday.

dont talk about the past.

why follow him. who did you follow?

hey fortunebull, so what if one miss the valuation.
how long you in the market, kaneeneh.
another retard in the making.. pls ignore him

tj, fierce re bound, i miss queue too

scorched earth, then the wheat will yield

whats on the table today, dear gary

faith, fade, fed, gary which one?
something good today.

avenger, you can avenge with fury MUI group

I did, in 2010, cleared all after ex ... something

trade cautiously, my friends

Hi guys.. bonus or treasury need shh approval in a meeting.
If approval then only got ex date. Cannot play play with the company's capital. Can go jail

Hahhaha... walter white died a good bad man

..

Ya alex. I sold half.

Wow all bought almost same time. Mine slightly lower than both of you.

Kcchongnz at one time you were looking at freight. Any further notes on this one. Diam diam ubi. Ilb cenbond ttnt yinson all sudah jalan kuat.
Looks like a theme play for some time now.

Good for you yennie. Kcchongnz now after me for his lunches and dinners.
Kudos to him. Fine gentleman

House... dont make sense for a 3.9%. There is still some risk here though I hv not read the documents yet.

I c. I thought another bonus is on the cards.
Then rm5.00 is imminent or coming up.
Yennie you hold the ipo shares?

Abundance it did not mention whether bonus includes the additional split or whether the split shares is also entitled to bonus shares.

Abundance what is the paid up share capital now (10 sen par)

Strange.. price played up on company announcement of purchase of 2 big office shop properties.
Alex .. on pure TA 2qtrs already give you 39 eps.
What do you think?
Rchi bght again at 4.30s during recent quick price retracement. I suspect I lost to him by a whisker.

II34, why another bleeding day?
hw0706, they are doing private placement of UMW shares? Why would they do that.