QL – Fundamental Analysis (23 Nov 2014)

QL Analysis:-

Excel – http://1drv.ms/1xQgBJt

My View:-

– Fair value
  – Absolute EY%:
    – Trailing:
      – FY14 (EPS: 0.138) – Fair value 3.55 (Fair Value Uncertainty: HIGH)
      – R4Q (EPS: 0.138) – Fair value 3.54 (Fair Value Uncertainty: HIGH)
    – Forward:
      – FY15 (EPS: 0.155) – Fair value 3.98 (Fair Value Uncertainty: MEDIUM)
      – FY16 (EPS: 0.175) – Fair value 4.49 (Fair Value Uncertainty: MEDIUM)
    – EPS applied to reach the current stock price (3.46): 0.134
– 1H15 numbers were encouraging with steady growth seen across all division. Stronger 3Q is anticipated with the ILF well supported by the strong egg prices and the Marine Product Manufacturing (MPM) backed by robust demand of the surimi-based products and also further helped by the shrimp farming in Sabah, which is expected to contribute c.RM4m to the division in FY15.

Latest Financial – Q2 2015 Financial Report (20 Nov 2014) http://www.bursamalaysia.com/market/listed-companies/company-announcements/1799889

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


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