5 Years 100% Capital Appreciation: Example: JT International Berhad (JTINTER, 2615)

So, do you want to own high dividend payout counter? How about JT International Berhad (JTINTER, 2615)? JTINTER is going to give special dividend of Special Cash Dividend of 24 sen per share less 25% tax and 38 sen per share, tax exempt under the single-tier system in respect of the financial year ending 31st December 2012. In other words, with market price of RM6.70 and gross dividend of 62sen will be given, its dividend yield is approximately 9.25%, it seems a good deal, don't you think?

However, if we review JTINTER last five year achieve, its EPS is gradually increasing from 31sen (2007) to 47sen (2011), dividend amount is 30sen in last three years (2009, 2010 and 2011). This explains why JTINTER is able to give special dividend ( from its retained earning in last three years: 2009, 2010 and 2011 after 30sen dividend paid). In other words, do you think the 62sen dividend will be given again in next fiscal year? Maybe, if and only if, its EPS will increase significantly.

FELDA GLOBAL VENTURES HOLDINGS BERHAD: Short Insight

Based on FELDA GLOBAL VENTURES HOLDINGS BERHAD (FGVH) Prospectus reports:

Profit after tax in 2011 is RM1,014,665,000.
Net asset in 2011 is RM5,483,830,000.

However, last three months ended at 31 March, PAT is only RM192,165,000 compared to RM359,048,000 in the same period in the preceding year (2011).

Total IPO share number is 2,188,890,900 shares (institution offering up to 1,915,279,900 shares + retail offering of 273,611,000 shares.

Income statement, Balance Sheet, Cash flow statement - Which one is the most important?

One friend told me that somebody said balance sheet is more important than income statement in the long term. However, personally, I believe all of them (Income statement, Balance sheet and cash flow statement) are equally important for us to evaluate the intrinsic value of a particular company. In this post, I am going to explain the function of these three statements for us, as an investor, to figure out the value of a company.

Income Statement
Income statement shows the profitability and efficiency of a particular company. For example, from income statement, we can answer some critical questions, namely, how much will be earned from every 100 dollar sales in this particular company? Is the fix cost reasonable or too high? How about the profit margin of the company products?

GAS MALAYSIA BERHAD (GASMSIA) : Little Analysis and Insight

Based on the Prospectus notes of GAS MALAYSIA BERHAD (GASMSIA) from Bursa Malaysia,
page 159: Historical audited consolidated Financial information: profit after tax (PAT) in 2011 is around RM229million.

Next, go to page 187: 12.4 Proforma consolidated balance sheets: Proforma II - After proforma I and IPO: total number of share is 1,284million.

Based on these two informations, we can get EPS of GASMSIA = 17.83sen.

Since the IPO price for retailer is RM2.20, PE = 2.2/0.1783 = 12.34.

NTA = RM0.71.

Compared to KENCANA PETROLEUM BERHAD PE, GASMSIA looks more attractive.

However, can GASMSIA maintains or even grow its EPS in future? More investigation and time are needed.