AHEALTH–Fundamental Analysis (30 Apr 2014)

AHEALTH Analysis:-

Excel – http://1drv.ms/1kf7Yw9

My View:-

– Fair Value:
  – 5Y DCF: 6.87 – 6.70 (MOS: 23% – 33%)
  – EY%: 3.35 – 4.02 (MOS: -12%)
– In 2013, RM 30 million was spent to acquire and retrofit a 50,000 square feet industrial building to support growing business volumes at Apex Pharma Marketing Pte Ltd in Singapore.
  – Thus, FY13 FCF is lower if compare to previous years.
– As a pharmaceutical company, AHEALTH is a defensive company. However, what I dislike is balance float of shares in market is around 15% only. Liquidity of this stock is low.
– I may buy some shares of AHEALTH in the future. I will continue to monitor it.

Latest Financial – Annual Report 2013 (28 Apr 2014) http://www.bursamalaysia.com/market/listed-companies/company-announcements/1605913

At the time of writing, I did not own shares of AHEALTH.


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