DELEUM (5132) : DELEUM – Fundamental Analysis (3 Jan 2015)

DELEUM (5132) : DELEUM – Fundamental Analysis (3 Jan 2015)

DELEUM Analysis:-

Excel – http://1drv.ms/1EXdfVM

Notes – http://tinyurl.com/qdboasm

My View:-

Valuation
       
Absolute EY%:
           
Trailing:
               
FY13 (EPS: 0.124) – Fair value 1.25 (Fair Value Uncertainty: VERY HIGH)
               
R4Q (EPS: 0.143) – Fair value 1.44 (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 1.73 (Fair Value Uncertainty: HIGH)
           
EPS applied to reach the current stock price (1.62): 0.16
       
Absolute PE
           
FY13 (EPS: 0.124) – Fair value 1.99 (Fair Value Uncertainty: MEDIUM)
           
R4Q (EPS: 0.143) – Fair value 2.3 (Fair Value Uncertainty: MEDIUM)
   
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 – Q3 2014 Financial Report (17 Nov 2014) http://www.bursamalaysia.com/market/listed-companies/company-announcements/1795733

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

http://lcchong.wordpress.com