Boustead Holdings Berhad_ Look Forward to a Recovery_140825

8/11/2019 Boustead Holdings Berhad_ Look Forward to a Recovery_140825

1/3

TA SecuritiesA Member of the TA Group

Monday, August 25, 2014

FBM KLCI: 1,862.31

Sector: Plantation

MENARA TA ONE, 22 JALAN P. RAMLEE, 50250 KUALA LUMPUR, MALAYSIA TEL: +603-20721277 / FAX: +603-20325048

Page 1 of 3

: 6.42

THIS REPORT IS STRICTLY FOR INTERNAL CIRCULATION ONLY*

James Ratnam Tel: +603-2167 9602 [email protected] www.taonline.com.my

B 114 ,

. 114 112.0,

30.5% . ( 23.8

213), 19.8%

113.2. A , 114 34.6%

(113: 22.1%). A ,

.

A , 7.5 / ,

15 /.

3.4% 5.1, C

& .

114 90.1,

(C: +11.9%, : +71.3%) B

(+2.8%).

, 1)

, B 7.7 . B 4.1

,

, 2) 31.9%

, 3) & 8.7% 113

, 4)

47.6% .

C , 1) 14

10% , 2) 14

32% 25% 15/16

. 14 19.2%.

15/16 5.6%/5.4%.

. ,

17,

. , 2.2,

9.0 .

, 214,

. , C

2,000/, . C

2,000/ .

6.42 (6.61 ).

15 , 14

.

. B B.

.

B C B

C 2771

C () 1,034

C () 5,305

0.50

52 / () 5.71/4.93

12 A D ('000 ) 381

E F F (%) 24.2

B 0.70 (%)

A 57.24

A 8.68

14 15

F (%) 19.2 5.6

() 299.4 413.2

C 389.3 431.3

A' / C (%) 77 96

B ()

14 15 / (%) 125.9 131.4

CF () 21.9 47.1

/CF () 23.4 10.9

A (%) 1.9 2.4

A/ () 4.0 4.1

/ A () 1.3 1.2

%

A 31 B

C 29 B

(%)

1 (0.6) (0.8)

3 (4.5) (0.4)

6 (5.5) 1.6

12 (0.8) 8.2

(12)


2/3


25A14

Page 2 of 3

31 () 213 114 214 % % 113 114 %

(12.3) 54.6 35.5 (35.0) 4.7 90.1 > 100

24.0 18.8 24.4 67.8 43.2 (36.3)

56.0 20.2 32.3 59.9 (42.3) 100.2 52.5 (47.6)

F & (2.3) (2.0) (4.3) (4.2) (6.3)

10.7 39.3 25.6 (34.9) > 100 49.2 64.9 31.9 & (&) 40.2 35.0 34.0 (2.9) (15.4) 75.6 69.0 (8.7)

116.3 165.9 147.5 (11.1) 26.8 293.3 313.4 6.9

213 114 214 % %

FFB () 226,952 253,108 245,821 (2.9) 8.3

A ( ) *

FFB 469 586 573 (2.2) 22.2

C 2,328 2,629 2,605 (0.9) 11.9

1,143 1,945 1,958 0.7 71.3

() (%) ()

15.0 100% 556.9 A E

3,472.2 20% A

& 10.0 100% 1,138.5 A 10 E

5,167.6

E

()

(%) ()

B 2,528.0 59% 1491.5 1,222.0 56% 690.2

A 5,231.1 21% 1,082.3 B 3.50

3,264.0

8,431.7

D ( .) (1,055.0)

7,376.7

C () 1,034.2

/ () 7.13

. 10%

. / () 6.42 F15 E 16.1


3/3


25A14

Page 3 of 3

()

31 () 2012 2013 2014 2015 2016

10,211.1 11,212.0 10,614.9 11,492.7 11,859.7

EBDA 669.4 731.2 973.1 1,178.5 1,288.2

EBDA (%) 6.6 6.5 9.2 10.3 10.9

592.7 707.7 519.2 686.9 741.9

416.7 478.8 299.4 413.2 432.5

C 312.2 411.3 299.4 413.2 432.5E () 40.3 46.3 29.0 40.0 41.8

C E FD () 30.2 39.8 29.0 40.0 41.8

C E (%) (46.6) 31.7 (27.2) 38.0 4.6

() 17.0 12.9 17.7 12.8 12.3

D () 32.5 30.0 15.0 24.0 26.0

D (%) 6.3 5.8 2.9 4.7 5.1

C E (%) 6.9 8.3 5.6 7.6 7.7

31 () 213 114 214 % % 113 114 %

2,390.1 2,499.8 2,588.2 3.5 8.3 4,921.2 5,088.0 3.4

EB 99.6 168.6 147.6 (12.5) 48.2 293.4 316.0 7.7

/ () (62.4) (62.9) (66.3) (120.8) (129.2)

F + E 17.4 (2.7) 1.3 19.9 (1.2)

A 38.5 30.3 27.3 (9.9) (29.1) 75.5 57.6 (23.7)

93.1 133.3 109.9 (17.6) 18.0 268.0 243.2 (9.3)

(18.4) (41.9) (42.2) (59.2) (84.1)

(13.5) (24.7) (22.4) (47.7) (47.1)

61.2 66.7 45.3 (32.1) (26.0) 161.1 112.0 (30.5)

C 43.8 69.4 44.0 (36.6) 0.5 141.2 113.2 (19.8)

C E () 4.2 6.7 4.3 (36.6) 0.5 13.7 10.9 (19.8)

D () 7.5 7.5 7.5 15.0 15.0

EB (%) 4.2 6.7 5.7 6.0 6.2 (%) 3.9 5.3 4.2 5.4 4.8

(%) 19.8 31.4 38.4 22.1 34.6

Disclaimer

The information in this report has been obtained from sources believed to be reliable. Its accuracy or completeness is not guaranteed andopinions are subject to change without notice. This report is for information only and not to be construed as a solicitation for contracts.We accept no liability for any direct or indirect loss arising from the use of this document. We, our associates, directors, employees may

have an interest in the securities and/or companies mentioned herein.

for

TA SECURITIESHOLDINGSBERHAD(14948-M)(A Participating Organisation of Bursa Malaysia Securities Berhad)

Kaladher Govindan Head of Research

Documents

Boustead Holdings Berhad_ Look Forward to a Recovery_140825