DELEUM – Fundamental Analysis (26 Feb 2015)

DELEUM Analysis:-

Excel – http://1drv.ms/1DXY7d2

Notes – http://tinyurl.com/nhnqj82

My View:-

  • Valuation
    • Absolute EY%:
      • Trailing:
        • FY14 (EPS: 0.148) – Fair value 1.49 (Fair Value Uncertainty: VERY HIGH)
        • R4Q (EPS: 0.148) – Fair value 1.49 (Fair Value Uncertainty: VERY HIGH)
      • Forward:
        • FY14 (EPS: 0.142) – Fair value 1.43 (Fair Value Uncertainty: VERY HIGH)
        • FY15 (EPS: 0.171) – Fair value 1.72 (Fair Value Uncertainty: HIGH)
      • EPS applied to reach the current stock price (1.74): 0.173
  • Valuation of DELEUM is not attractive.
  • The long term outlook looks bright for Deleum, with a RM3.5bn orderbook lasting up to 7 years and 2 major contracts commencing in FY14.
  • The slump of brent crude oil futures is having an effect on the level of activities of the O&G producers and contractors in Malaysia.

Latest Financial – Q4 2014 Financial Report (24 FebNov 2014) http://www.bursamalaysia.com/market/listed-companies/company-announcements/1883521

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

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