OCK – Fundamental Analysis (15 Sept 2014)

OCK Analysis:-

Excel – http://1drv.ms/1qn7dHm

My View:-

– Fair values:
  – Absolute EY%:
    – Trailing:   
      – FY13 (EPS: 0.05) – Fair value 1.12 (Fair Value Uncertainty: VERY HIGH)
      – R4Q (EPS: 0.049) – Fair value 1.1 (Fair Value Uncertainty: VERY HIGH)
    – Forward:   
      – FY14 (EPS: 0.07) – Fair value 1.57 (Fair Value Uncertainty: HIGH)
      – FY15 (EPS: 0.09) – Fair value 2.02 (Fair Value Uncertainty: MEDIUM)
    – EPS applied to reach the current stock price (1.44): 0.064   
– I will revisit OCK after completion of the purchase of an 85% stake in PT Putra Mulia Telecommunication (PMT). My worry is Indonesia government may interfere this acquisition.
– If the acquisition is successful, I will seriously consider to buy this stock.

Latest Financial – Q2 2014 Financial Report (28 Aug 2014) http://www.bursamalaysia.com/market/listed-companies/company-announcements/1724733

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

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