Excel – http://1drv.ms/1wugAbO
- Fair values/Market Timing:
– Absolute EY%:
– FY14 (EPS: 0.512) – Fair value 10.84 (Fair Value Uncertainty: MEDIUM)
– R4Q (EPS: 0.556) – Fair value 11.76 (Fair Value Uncertainty: MEDIUM)
– FY15 (EPS: 0.529) – Fair value 11.2 (Fair Value Uncertainty: MEDIUM)
– FY16 (EPS: 0.589) – Fair value 12.46 (Fair Value Uncertainty: MEDIUM)
– EPS applied to reach the current stock price (7.91): 0.374
- The share price driver will be the potential spin off exercise within SIME business divisions which should allow SIME valuation to be rerated higher as it should emerge as pure planter. As it is, it has been reported by media quoting Tan Sri Mohd Bakke Salleh specifying that the listing of its motor unit is set to be executed in 1HCY15 subject to market conditions.
- I will continue to hold SIME.
Latest Financial – Annual Report 2014 (21 Oct 2014) http://www.bursamalaysia.com/market/listed-companies/company-announcements/1771817
At the time of writing, I owned shares of SIME.