DIALOG – Fundamental Analysis (19 Nov 2014)

DIALOG Analysis:-

Excel – http://1drv.ms/1qWoWnn

My View:-

– Fair values:
  – Absolute EY% valuation:
    – Trailing:
      – FY14 (EPS: 0.044) – Fair value 1.53 (Fair Value Uncertainty: HIGH)
      – R4Q (EPS: 0.044) – Fair value 1.54 (Fair Value Uncertainty: HIGH)
    – Forward:
      – FY15 (EPS: 0.047) – Fair value 1.63 (Fair Value Uncertainty: HIGH)
      – FY16 (EPS: 0.051) – Fair value 1.77 (Fair Value Uncertainty: HIGH)
    – EPS applied to reach the current stock price (1.5): 0.043
– Based on the current price, DIALOG is just slightly undervalued.
– The group is bullish on the prospects of Pengerang as it expects the demand for storage facilities to increase. Management further noted that construction of Phase 1C, which will provide storage for crude oils, is on schedule and due for mechanical completion by December 2014.
– DIALOG is also banking-in on growth from the upstream services, logistics services – tank terminals and supply base, specialist products and services, E&C, fabrication, plant services and ePayment technology and solutions.

Latest Financial – Q1 2015 Financial Report (18 Nov 2014) http://www.bursamalaysia.com/market/listed-companies/company-announcements/1797329

At the time of writing, I owned shares of DIALOG.

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