QR results was out yesterday. The results was good. Profit increased YoY. Q3 EPS is 1.35 vs -0.92 bringing 9 months EPS to 5.11 sens. At current price, the PE is 11x. However, if annualise 4Q and usually 4Q is quite solid for the company, the full year estimate would be 6.81 sens. So if you take a multiple of 10, the FV of the share should be 68 sens. This is a low volume counter with minimal activity. I previously bought into UPA for dividend play and solid NTA. Kialim has an NTA of RM1.35. As such, it fulfills my criteria of steady earnings / strong NTA / low PE and anticipate Q4 to deliver solid numbers. I will buy into Kialim at 58 sens to hold to the next QR.
Despite the outperformace in the last 3 quarters, does anyone notice that in the 2014 Annual Report, they reported a profit before tax of RM4 mil and and tax income of RM3.2 mil (Causing the net profit to hit RM7.2 mil)? Annualising the profit for 2015 using the last 3 quarters only gives me RM4-5 mil. Will they have the same tax savings again in 2015? Just wondering... P/s: Also notice that a director has been disposing some shares...
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
whkwoon
303 posts
Posted by whkwoon > 2014-08-08 21:10 | Report Abuse
I don,t believe in chart , chart does not prove any thing at all.