All analysis have qouted way below expected TP, the true value of UMW should be now RM 15/- base on the fundamental of this solid company with over RM2Billion in cash. Furthermore, no automotive company can come close or even match UMW in this sector. While for thier Equipment division, time after time all analysis undervalue it with low PE without consider its real strenght. With the new boss at held, major shakeup in the company has been carry out, new team will be brought in to expand the group and beyond.Another key point, ask why PNB is buying back so much stock, bcos you can't ignore its high dividend payout!
Research note from RHB Reserach Institute : UMW Holdings – Still In Pole Position Outperform Results Briefing - The expansion in pre-tax margins to 17.4% from 16.1% in the preceding quarter was achieved on the back of a favourable model sales mix, higher productivity, lower selling and distribution expenses and improved earnings from 38%-owned Perodua. The better mix is likely from the new Camry launched in Jun. We have revised our 2012 sales forecast to 104,000 units (from 105,000) implying average monthly sales of 8.5-9k for Nov and Dec. - The refurbishment of NAGA-1 is now complete and is expected to resume its contract with Petronas Carigali in Dec. UMW’s newly acquired jack-up rig (B324) is scheduled for delivery in Feb 2013. While a firm contract has not yet been sealed, management is confident of securing a charter by the time the rig is delivered. - Based on our 2012 profit estimate, a 50% payout implies a GDPS of 41 sen (4.6% gross yield) and potential final dividend of 16 sen. - We lift our 2012-14 earnings estimates by 7.2%, 6.0% and 7.4% respectively. - We reiterate our Outperform call. Our fair value is raised to RM11.60 (from RM10.90).
but matsaham mashum u never say why things are going up or down.. you are good at what you say but we want to learn la.. so say more..this is a free site.. all opinions are respected..no one wrong or right..anyhow thanks for your calls.. good info mate.. much appreciated.. many thanks
CIMB IB - warrant team, if you are reading this, when will there be any new listing of CW tracking the underlying ? make sure you issue something better than AMMB IB
FKLI index futures roll over contract today,expiring 2 days time. Expect short covering of index to the highest before election day using the blue chips followed by high volatility.
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....
jxco
2 posts
Posted by jxco > 2011-04-02 01:19 | Report Abuse
All analysis have qouted way below expected TP, the true value of UMW should be now RM 15/- base on the fundamental of this solid company with over RM2Billion in cash. Furthermore, no automotive company can come close or even match UMW in this sector. While for thier Equipment division, time after time all analysis undervalue it with low PE without consider its real strenght. With the new boss at held, major shakeup in the company has been carry out, new team will be brought in to expand the group and beyond.Another key point, ask why PNB is buying back so much stock, bcos you can't ignore its high dividend payout!