KESM – Fundamental Analysis (4 Jul 2014)

KESM Analysis:-

Excel – http://1drv.ms/1kiHYkf

My View:-

– Fair value
  – FY13 (EPS: 0.106): Buy below 1.15, sell above 1.65
  – R4Q (EPS: 0.194): Buy below 2.11, sell above 3.02
  – FY14 (EPS: 0.146): Buy below 1.59, sell above 2.28
  – KESM is currently over or fully valued
– Company financial performance is not bad, but based on the pattern of its profitability (especially on quarterly results), there is material seasonal or cyclical fluctuation.
– Stiff competition from China manufacturers.
– I will skip this counter.

Latest Financial – Q3 2014 Financial Report (29 May 2014) http://www.bursamalaysia.com/market/listed-companies/company-announcements/1639525

At the time of writing, I did not own shares of KESM, and categorized this stock in the Study List.

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