Table Finance-nov 15

7/30/2019 Table Finance-nov 15

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High Prices (MYR) 2012 2010

January 1.28 0.98

February 1.30 1.01

March 1.36 1.00

April 1.33 1.20

May 1.33 1.20

June 1.49 1.19

July 1.50 1.15

August 1.50 1.14

September 1.75 1.18October n.a. 1.30

November n.a. 1.30

December n.a. 1.18

Low Prices (MYR) 2012 2010

January 1.18 0.83

February n.a. n.a.

March 1.18 0.90

April 1.27 0.95

May 1.27 0.97

June 1.28 n.a.

July 1.40 n.a.

August 1.40 n.a.

September 1.47 1.00

October n.a. 1.13

November n.a. 1.00

December n.a. 1.06

Closing Prices (MYR) 2012 2010

January 1.26 0.95

February 1.26 1.01

March 1.28 0.94

April 1.31 1.20

May 1.29 1.00

June 1.46 1.17

July 1.45 1.06

August 1.47 1.08

September 1.62 1.15

October n.a. 1.29

November n.a. 1.16

December n.a. 1.12

Trading volume per month

(shares)

2012 2010

January 200,500 413,200

MAGNI-TECH INDUSTRIES BERHAD

10050 PENANG (MALAYSIA)

BvD ID number MY422585-V

Publicly quoted company Status Active

All figures have been adjusted based on the Stock split/Dividend ratio.

2011 2009

This company is the GUO of the Corporate Group

Monthly pricing series

1.10 0.88

1.34 0.90

1.20 0.95

1.17 0.87

1.40 1.01

1.20 0.99

1.45 0.88

1.40 0.90

1.30 0.98

1.24 0.96

1.35 0.891.34 1.02

n.a. n.a.

1.04 n.a.

2011 2009

1.24 n.a.

1.25 0.81

1.02 0.71

1.05 0.72

1.11 0.84

1.15 n.a.

1.11 0.81

1.06 n.a.

2011 2009

1.13 0.83

1.10 n.a.

1.10 0.72

1.33 0.82

1.13 0.88

1.05 0.83

1.15 0.84

1.20 0.99

1.40 0.87

1.39 0.86

1.13 0.98

1.19 0.94

1.22 0.85

1.29 0.98

278,900 55,500

2011 2009


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February 220,100 41,500

March 1,120,500 409,200

April 547,000 555,200

May 419,100 110,900

June 200,900 108,800

July 415,400 139,800

August 403,700 122,500

September 695,700 319,000

October n.a. 921,400

November n.a. 260,800

December n.a. 235,400

Average daily volume (shares) 2012 2010

January 10,553 20,660

February 12,228 2,594

March 50,932 17,791

April 27,350 25,236

May 19,050 5,545

June 10,045 4,945

July 18,882 6,355

August 20,185 5,833

September 36,616 15,950

October n.a. 43,876



Number of days traded 2012 2010

January 19 20

February 18 16

March 22 23

April 20 22

May 22 20

June 20 22

July 22 22

August 20 21

September 19 20

October n.a. 21

November n.a. 20

December n.a. 21

Outstanding shares 2012 2010

January 108,488 103,575

February 108,488 103,575

March 108,488 103,575

April 108,488 103,575

May 108,488 103,575

June 108,488 103,575

July 108,488 103,575

August 108,488 103,575

September 108,488 103,575




Market capitalisation (th MYR) 2012 2010

110,500 115,000

1,118,100 192,800

1,683,800 221,600

86,100 67,400

539,000 124,600

162,400 132,000

333,200 954,900

702,900 159,100

849,300 108,300

2011 2009

101,300 166,300

200,400 34,500

3,743 3,210

25,667 5,664

13,945 2,921

6,906 6,389

33,471 6,917

40,443 5,415

55,905 9,640

76,536 10,073

5,065 8,315

9,543 1,643

8,120 6,600

16,660 43,405

20 19

16 18

2011 2009

20 20

22 22

23 21

21 22

20 20

20 22

21 23

21 20

2011 2009

20 20

21 21

103,600 103,575

103,600 103,575

103,600 103,575

103,600 103,575

108,488 103,575

108,488 103,575

103,600 103,575

105,485 103,575

108,488 103,575

108,488 103,575

108,488 103,575

108,488 103,575

2011 2009


3/64

January 136,695 98,396

February 136,695 104,611

March 138,865 97,360

April 142,119 124,290

May 139,949 103,575

June 158,392 121,183

July 157,307 109,789

August 159,477 111,861

September 175,750 119,111




117,068 90,628

108,780 85,967

145,040 90,110

146,624 89,075

113,960 74,056

137,788 84,414

132,355 88,039

139,949 101,504

124,761 87,003

130,185 102,021

122,591 101,504

129,101 97,360


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2008

1.06

1.10

1.02

1.00

0.98

0.97

0.96

0.99

0.890.90

0.90

0.88

2008

0.89

0.89

0.76

0.83

0.86

0.81

0.80

0.790.73

0.67

0.77

0.66

2008

0.97

0.94

0.95

1.00

0.92

0.87

0.88

0.84

0.89

0.90

0.87

0.78

2008

201,100

2007

2007

1.00

1.06

1.07

0.78

1,190,200

0.84

0.81

2007

0.98

1.00

0.75

0.78

0.80

0.75

0.75

0.79

0.72

0.55

0.78

0.78

2007

0.76

0.700.70

0.78

0.71

0.70

0.82

0.83

0.83

0.88

0.92

0.87

1.08

1.22

1.070.90

0.79

0.83


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211,700

243,900

164,600

135,100

29,100

45,400

28,400

227,400

74,700

39,100

130,600

2008

13,407

19,245

16,260

12,662

13,510

2,910

3,243

3,550

22,740

10,671

4,888

8,707

2008

15

11

15

13

10

10

14

8

10

7

8

15

2008

103,575

103,575

103,575

103,575

103,575

103,575

103,575

103,575

103,575

103,575

103,575

103,575

2008 2007

103,575

103,575

103,575

103,575

103,575

103,575

103,575

103,575

103,575

103,575

103,575

103,575

21

20

17

21

18

22

2007

15

19

21

16

37,514

5,338

16,100

22,085

10,035

9,843

17

21

2007

9,180

112,711

137,700

2,141,500

787,800

85,400

338,100

441,700

96,428

96,286

95,388

56,676

2007

170,600

206,700

1,735,700

2,118,300

1,621,600


6/64

100,468

97,360

98,396

103,575

95,289

89,592

91,146

86,485

92,182

93,217

90,110

80,788 103,575

109,789

77,681

81,824

87,003

83,896

110,825

80,271

77,681

80,788

82,860

77,681


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30 Apr 2012 30 Apr 2011

Income statement

Total revenues 538,066,000 444,531,000

Gross sales 534,123,000 443,657,000Adjustments/excise tax n.a. n.a.

Net sales 534,123,000 443,657,000

Other revenues 3,943,000 874,000

Cost of Goods Sold (451,567,000) (372,474,000)

Research & Development expenses n.a. n.a.

Other Operating Items (40,100,000) (42,425,000)

EBITDA 46,399,000 29,632,000

Total Deprec., Amort. & Depletion (5,149,000) (5,684,000)

Depreciation (5,136,000) (5,651,000)

Amortization & Depletion (13,000) (33,000)

Operating Income After Depr. & Amort. 41,250,000 23,948,000

Unusual/Exceptional Items - 72,000

Earnings Before Interest & Tax 41,250,000 24,020,000

(376,000) (761,000)

Financial Revenue 531,000 318,000

Financial Expenses (546,000) (516,000)

Financial P/L (15,000) (198,000)Other non Oper./Financial Inc./Exp. (361,000) (563,000)

(376,000) (761,000)

Earnings before tax 40,874,000 23,259,000

Income taxes (10,236,000) (5,999,000)

Earnings after tax 30,638,000 17,260,000

Minority interest - -

Other n.a. n.a.

Extraordinary items after tax n.a. n.a.

Preferred dividends n.a. n.a.

Net Profit 30,638,000 17,260,000

Ordinary dividends - (6,509,000)

Dividend share capital other n.a. n.a.

Memo Lines

Personnel Expenses (46,379,000) (40,853,000)

Amortization of Goodwill Pre-Tax n.a. n.a.


8/64

Operating Profit Discontinued Op. n.a. n.a.

Dividend Received 844,000 249,000

Order Backlog n.a. n.a.

Monetary Correction n.a. n.a.

eps 0.28 0.17

price 1.31 1.33

Operating income 82,556,000 71,183,000


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30 Apr 2010 30 Apr 2009 30 Apr 2008 30 Apr 2007

376,970,000 389,035,000 339,878,000 201,112,000

376,717,000 388,094,000 339,658,000 201,000,000n.a. n.a. n.a. n.a.

376,717,000 388,094,000 339,658,000 201,000,000

253,000 941,000 220,000 112,000

(316,811,000) (341,481,000) (286,925,000) (166,210,000)

n.a. n.a. n.a. n.a.

(31,697,000) (29,176,000) (32,109,000) (21,594,000)

28,462,000 18,378,000 20,844,000 13,308,000

(6,307,000) (6,300,000) (7,356,000) (7,055,000)

(6,151,000) (6,026,000) (6,035,000) (4,974,000)

(156,000) (274,000) (1,321,000) (2,081,000)

22,155,000 12,078,000 13,488,000 6,253,000

189,000 58,000 140,000 179,000

22,344,000 12,136,000 13,628,000 6,432,000

(546,000) 3,600,000 (591,000) (579,000)

263,000 141,000 178,000 179,000

(536,000) (198,000) (389,000) (601,000)

(273,000) (57,000) (211,000) (422,000)(273,000) 3,657,000 (380,000) (157,000)

(546,000) 3,600,000 (591,000) (579,000)

21,798,000 15,736,000 13,037,000 5,853,000

(5,303,000) (4,197,000) (2,881,000) (1,533,000)

16,495,000 11,539,000 10,156,000 4,320,000

- 4,000 4,000 3,000

n.a. n.a. n.a. n.a.

n.a. n.a. n.a. n.a.

n.a. n.a. n.a. n.a.

16,495,000 11,543,000 10,160,000 4,323,000

(7,768,000) (5,179,000) (4,661,000) (5,012,000)

n.a. n.a. n.a. n.a.

(37,653,000) (37,711,000) (38,948,000) (25,796,000)

n.a. n.a. n.a. n.a.


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n.a. n.a. n.a. n.a.

717,000 630,000 102,000 98,000

n.a. n.a. n.a. n.a.

n.a. n.a. n.a. n.a.

0.16 0.11 0.10 0.04

1.20 0.82 1.00 0.75

59,906,000 46,613,000 52,733,000 34,790,000


11/64


Consolidated data

30 Apr 2012

Assets

Total Current Assets 158,254,000

Net Stated Inventory 53,089,000

Raw Materials 13,242,000

Work in Progress 38,754,000

Finished Goods 1,093,000

Net Accounts Receivable 58,888,000

Accounts Receivable 59,450,000

Doubtful Accounts (562,000)

Others 46,277,000

Other Current Assets 533,000

Prepaid Expenses & Advances 3,310,000

Total Cash & Short Term Investment 42,434,000

Cash or Equivalent 40,377,000

Short Term Investment 2,057,000

Fixed Assets 82,250,000

Net Property, Plant & Equipment 62,123,000

Buildings 41,849,000

Total Buildings Depreciation (9,277,000)

Net Buildings 32,572,000

Plant & Machinery 77,044,000

Plant & Machinery Depreciation (54,425,000)

Net Stated Plant & Machinery 22,619,000

Transportation Equipment 9,075,000

Transportation Equipment Deprec. (7,049,000)Net Transportation Equipment 2,026,000

Other Property Plant & Equipment 15,334,000

Other Property Plant & Equip. Deprec. (10,428,000)

Net Other Property Plant & Equip. 4,906,000

Other fixed assets 20,127,000


12/64

Investments 19,341,000

Long Term Associated Companies -

Investment Properties 142,000

Other Long Term Assets 644,000

Total Assets 240,504,000

Memo Lines

Property, plant & equipment at cost 138,628,000

Revaluation of property, plant & equip. 4,674,000

Accumulated depreciation (81,179,000)

Net property, plant & equipment 62,123,000

Supplementary Data

Liabilities

Total Current Liabilities 46,581,000Loans -

Current Portion of LT Debt n.a.

Current loans & overdrafts n.a.

Trade Creditors 37,007,000

Other Creditors 7,651,000

Income Tax Payable 1,923,000

Other Current Liabilities -

Other 9,574,000

Non Current Liabilities 7,633,000Total LT Interest Bearing Debt -

Lease Liabilities -

Other LT Interest Bearing Debt -

Other non-current liabilities 7,633,000

Deferred Taxes 7,604,000

Minority Interest 29,000

Total Liabilities and Debt 54,214,000

Total Shareholders Equity 186,290,000Share Capital 108,488,000

Common Stock/Shares 108,488,000

Other 77,802,000

Share Premiums 3,766,000

Retained Earnings 73,978,000

Other Shareholders Reserves 58,000

Total Liabilities and Equity 240,504,000


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1.72

Total Debt -

Total Long Term Debt -

Total Short Term Debt -

Net Assets 186,319,000

Net Debt (42,434,000)

Enterprise Value 99,685,1431.31

market value 142,119,280.00

99,685,280.00

equity 142,119,280.00

borrowings -

142,119,280.00

WACC Calculation

Risk Free Rate 3.01%

Market Risk Premium 8.36%Beta 0.56

Cost of equity 7.69%

Cost of Debt 0.00%

Debt/Value 0.00%

WACC 7.7%

Nat assets total assets-total liabilities+minoriti int

Net debt total debt-cash equivalent

Enterprise Value Market value-net debt

market cap plus debt, minority interest and preferred shares, minus total cash an

Read more: http://www.investopedia.com/terms/e/enterprisevalue.asp#ixzz2AmZjKA65

Enterprise value =

common equity at market value

+ preferred equity at market value

+ minority interest at market value

+ debt at market value

+ unfunded pension liabilities and

- associate company at market val

- cash and cash-equivalents.
http://www.investopedia.com/terms/e/enterprisevalue.asphttp://en.wikipedia.org/wiki/Market_valuehttp://en.wikipedia.org/wiki/Preferred_equityhttp://en.wikipedia.org/wiki/Minority_interesthttp://en.wikipedia.org/wiki/Debthttp://en.wikipedia.org/wiki/Pensionhttp://en.wikipedia.org/wiki/Associate_companyhttp://en.wikipedia.org/wiki/Cashhttp://en.wikipedia.org/wiki/Cashhttp://en.wikipedia.org/wiki/Associate_companyhttp://en.wikipedia.org/wiki/Pensionhttp://en.wikipedia.org/wiki/Debthttp://en.wikipedia.org/wiki/Minority_interesthttp://en.wikipedia.org/wiki/Preferred_equityhttp://en.wikipedia.org/wiki/Market_valuehttp://www.investopedia.com/terms/e/enterprisevalue.asp


14/64

Supplementary Data

investor supplied operating capital

notes payable

long term debt

prefered stock

common equity

less

short term investment


15/64

30 Apr 2011 30 Apr 2010 30 Apr 2009 30 Apr 2008 30 Apr 2007

135,171,000 115,534,000 101,603,000 91,717,000 94,962,000

60,099,000 44,339,000 40,926,000 34,588,000 38,111,000

12,518,000 11,338,000 10,133,000 17,435,000 15,980,000

45,688,000 31,280,000 28,838,000 14,317,000 18,842,000

1,893,000 1,721,000 1,955,000 2,836,000 3,289,000

52,576,000 47,304,000 39,488,000 42,630,000 48,183,000

53,442,000 48,270,000 40,462,000 43,562,000 49,120,000

(866,000) (966,000) (974,000) (932,000) (937,000)

22,496,000 23,891,000 21,189,000 14,499,000 8,668,000

479,000 103,000 361,000 1,318,000 1,420,000

2,823,000 2,184,000 1,291,000 2,522,000 2,985,000

19,194,000 21,604,000 19,537,000 10,659,000 4,263,000

18,194,000 21,604,000 19,537,000 10,659,000 4,263,000

1,000,000 - - - -

76,450,000 77,622,000 76,874,000 80,658,000 72,315,000

64,278,000 65,121,000 64,214,000 68,076,000 68,472,000

42,504,000 42,176,000 41,204,000 40,498,000 41,354,000

(8,584,000) (7,875,000) (6,764,000) (6,153,000) (6,270,000)

33,920,000 34,301,000 34,440,000 34,345,000 35,084,000

74,821,000 73,678,000 73,446,000 73,273,000 71,740,000

(52,175,000) (50,230,000) (49,528,000) (46,118,000) (43,643,000)

22,646,000 23,448,000 23,918,000 27,155,000 28,097,000

8,949,000 8,150,000 7,728,000 7,912,000 6,996,000

(6,397,000) (6,036,000) (5,911,000) (5,245,000) (4,964,000)2,552,000 2,114,000 1,817,000 2,667,000 2,032,000

14,775,000 14,065,000 14,731,000 13,907,000 12,568,000

(9,615,000) (8,807,000) (10,692,000) (9,998,000) (9,309,000)

5,160,000 5,258,000 4,039,000 3,909,000 3,259,000

12,172,000 12,501,000 12,660,000 12,582,000 3,843,000


16/64

12,013,000 12,335,000 11,105,000 11,284,000 2,118,000

- - 1,372,000 1,119,000 1,725,000

159,000 166,000 183,000 179,000 n.a.

n.a. n.a. n.a. n.a. n.a.

211,621,000 193,156,000 178,477,000 172,375,000 167,277,000

136,367,000 133,387,000 132,427,000 130,908,000 127,476,000

4,682,000 4,682,000 4,682,000 4,682,000 5,182,000

(76,771,000) (72,948,000) (72,895,000) (67,514,000) (64,186,000)

64,278,000 65,121,000 64,214,000 68,076,000 68,472,000

47,034,000 39,361,000 35,937,000 35,748,000 36,745,000- - - 6,882,000 11,337,000

n.a. n.a. - 174,000 313,000

n.a. n.a. - 6,708,000 11,024,000

39,908,000 33,394,000 29,650,000 23,482,000 20,066,000

2,935,000 2,683,000 3,240,000 3,082,000 2,929,000

210,000 446,000 1,263,000 594,000 492,000

3,981,000 2,838,000 1,784,000 1,708,000 1,921,000

7,126,000 5,967,000 6,287,000 5,384,000 5,342,000

7,394,000 6,931,000 6,991,000 7,961,000 8,880,000- - 97,000 278,000 491,000

- - 97,000 278,000 71,000

- n.a. n.a. - 420,000

7,394,000 6,931,000 6,894,000 7,683,000 8,389,000

7,365,000 6,904,000 6,867,000 7,652,000 8,355,000

29,000 27,000 27,000 31,000 34,000

54,428,000 46,292,000 42,928,000 43,709,000 45,625,000

157,193,000 146,864,000 135,549,000 128,666,000 121,652,000103,600,000 103,575,000 103,575,000 103,575,000 103,575,000

103,600,000 103,575,000 103,575,000 103,575,000 103,575,000

53,593,000 43,289,000 31,974,000 25,091,000 18,077,000

3,048,000 3,048,000 3,048,000 3,048,000 3,048,000

49,708,000 40,219,000 28,904,000 22,021,000 15,007,000

837,000 22,000 22,000 22,000 22,000

211,621,000 193,156,000 178,477,000 172,375,000 167,277,000


17/64

1.52 1.42 1.31 1.24 1.17

- - 97,000 7,160,000 11,828,000

- - 97,000 278,000 491,000

- - - 6,882,000 11,337,000

157,222,000 146,891,000 135,576,000 128,697,000 121,686,000

(19,194,000) (21,604,000) (19,440,000) (3,499,000) 7,565,000

118,594,004 102,686,005 64,973,625 100,076,000 85,246,2501.33 1.20 0.82 1.00 0.75

137,788,000.00 124,290,000.00 84,413,625.00 103,575,000.00 77,681,250.00

118,594,000.00 102,686,000.00 64,973,625.00 100,076,000.00 85,246,250.00

137,788,000.00 124,290,000.00 84,413,625.00 103,575,000.00 77,681,250.00

- - 97,000.00 7,160,000.00 11,828,000.00

137,788,000.00 124,290,000.00 84,510,625.00 110,735,000.00 89,509,250.00

0.11% 6.47% 13.21%

3.01% 3.01% 3.01% 3.01% 3.01%

8.36% 8.36% 8.36% 8.36% 8.36%0.56 0.56 0.56 0.56 0.56

7.69% 7.69% 7.69% 7.69% 7.69%

0.00% 0.00% 4.00% 4.00% 4.00%

0.00% 0.00% 0.11% 6.47% 13.21%

7.7% 7.7% 7.7% 7.4% 7.1%

cash equivalents.

, if any

ther debt-deemed provisions

e, if any


18/64

- - - - -

- - - - - 0

- - - - - 0

- - - - - 0

- - - - - 0

- - - - - 0


19/64

Apr-30

Turnover

Cost of goods sales

Gross profit

Operating expenses

EBITDA

Depreciation and amortisation expenses

Exceptional item

EBIT

Interest Expense

EBT

Tax

Net Profit

EPS

BVPS

cashflow per share

DPS


20/64

2012 2011 2010 2009 2008 2007

538,066,000 444,531,000 376,970,000 389,035,000 339,878,000 201,112,000

(451,567,000) (372,474,000) (316,811,000) (341,481,000) (286,925,000) (166,210,000)

86,499,000 72,057,000 60,159,000 47,554,000 52,953,000 34,902,000

(40,100,000) (42,425,000) (31,697,000) (29,176,000) (32,109,000) (21,594,000)

46,399,000 29,632,000 28,462,000 18,378,000 20,844,000 13,308,000

(5,149,000) (5,684,000) (6,307,000) (6,300,000) (7,356,000) (7,055,000)

- 72,000 189,000 58,000 140,000 179,000

41,250,000 24,020,000 22,344,000 12,136,000 13,628,000 6,432,000

(376,000) (761,000) (546,000) 3,600,000 (591,000) (579,000)

40,874,000 23,259,000 21,798,000 15,736,000 13,037,000 5,853,000

(10,236,000) (5,999,000) (5,303,000) (4,197,000) (2,881,000) (1,533,000)

30,638,000 17,260,000 16,495,000 11,539,000 10,156,000 4,320,000

0.28 0.17 0.16 0.11 0.10 0.04

1.72 1.52 1.42 1.31 1.24 1.17

0.33 0.22 0.22 0.17 0.17 0.11

- 0.06 0.07 0.05 0.05 0.05


21/64

AVERGAE

1.40


22/64

Apr-30 2012

Assets

Non current assets

Property, plant and equipment 62,123,000Investment Properties 142,000

Pre-paid land lease payments 644,000

Investment in Securities 19,341,000

82,250,000

Current Assets

Inventories 53,089,000

Investment Securities 2,057,000

Trade and Other receivables 62,731,000

Cash and bank balances 40,377,000

Other 533,000.00

158,254,000

Total assets 240,504,000

Equity and Liabilities

Current Liabilities

Trade and Other Payables 44,658,000

Tax Payable 1,923,000Short Term Debt -

Other -

46,581,000

Net Current Assets 111,673,000

Non- Current Liabilites

Deffered tax liabilities 7,604,000

Total Long Term Debt -

Total Liabilities 54,185,000

Net Assets 186,319,000

Equity Attributable to owners

Share Capital 108,488,000

Share premium 3,766,000

Other reserves 58,000


23/64

Retained Profit 73,978,000

186,290,000

Minority interest 29,000

Total Equity 186,319,000

Total Equity and Liabilities 240,504,000


24/64

2011 2010 2009 2008 2007

64,278,000 65,121,000 64,214,000 68,076,000 68,472,000159,000 166,000 183,000 179,000 -

- - - - -

12,013,000 12,335,000 11,105,000 11,284,000 2,118,000

76,450,000 77,622,000 75,502,000 79,539,000 70,590,000

60,099,000 44,339,000 40,926,000 34,588,000 38,111,000

1,000,000 - - - -

55,878,000 49,591,000 41,140,000 46,470,000 52,588,000

18,194,000 21,604,000 19,537,000 10,659,000 4,263,000

479,000.00 103,000.00 361,000.00 1,318,000.00 1,420,000.00

135,171,000 115,534,000 101,603,000 91,717,000 94,962,000

211,621,000 193,156,000 177,105,000 171,256,000 165,552,000

42,843,000 36,077,000 32,890,000 26,564,000 22,995,000

210,000 446,000 1,263,000 594,000 492,000- - - 6,882,000 11,337,000

3,981,000 2,838,000 1,784,000 1,708,000 1,921,000

47,034,000 39,361,000 35,937,000 35,748,000 36,745,000

88,137,000 76,173,000 65,666,000 55,969,000 58,217,000

7,365,000 6,904,000 6,867,000 7,652,000 8,355,000

- - 97,000 278,000 491,000

54,399,000 46,265,000 42,901,000 43,678,000 45,591,000

157,222,000 146,891,000 134,204,000 127,578,000 119,961,000

103,600,000 103,575,000 103,575,000 103,575,000 103,575,000

3,048,000 3,048,000 3,048,000 3,048,000 3,048,000

837,000 22,000 22,000 22,000 22,000


25/64

49,708,000 40,219,000 28,904,000 22,021,000 15,007,000

157,193,000 146,864,000 135,549,000 128,666,000 121,652,000

29,000 27,000 27,000 31,000 34,000

157,222,000 146,891,000 135,576,000 128,697,000 121,686,000

211,621,000 193,156,000 178,477,000 172,375,000 167,277,000


26/64

table 3-5 2012 2011 2010 2009 2008

FYE April 30,

MVA CALCULATION

Price per share 1.31 1.33 1.20 0.82

Number of shares 108,488,000 103,600,000 103,575,000 103,575,000 103,575,

Market value of equity 142,119,280 137,788,000 124,290,000 84,413,625 103,575,

Book Value of equity 186,290,000 157,193,000 146,864,000 135,549,000 128,666,

MVA (44,170,720) (19,405,000) (22,574,000) (51,135,375) (25,091,

EVA Calculation

EBIT 41,250,000 24,020,000 22,344,000 12,136,000 13,628

tax rate 25.04% 25.79% 24.33% 26.67% 22.

NOPAT = EBIT (1-T) 30,919,839 17,824,722 16,908,170 8,899,168 10,616

Total investor supplied operating capital 184,233,000 156,193,000 146,864,000 135,646,000 128,944

weighted average cost of capital (WACC) 7.69% 7.69% 7.69% 7.68% 7.

Dollar cost of capital = operating capital 14,167,057.18 12,010,851.27 11,293,474.49 10,423,432.66 9,534,145

EVA = NOPAT - capital cost 16,752,781.84 5,813,870.35 5,614,695.07 (1,524,264.89) 1,082,251

ROIC = NOPAT/ operating capital 118% 48% 50% -15%

ROIC - cost of capital = ROIC-WACC 110.56% 40.72% 42.03% -22.31% 3.

EVA = Operating capital/ (ROIC - WACC) 12,813,685.81 29,499,530.47 26,872,252.53 (46,725,643.23) 240,925,190


27/64

EBIT Interest covergae

EBITDA Interest Covergae

Funds from operation/total debt

free operating cashflow/Total debt

return on capital

operating income/sales

long term debt / long term capital

total debt / total capital

ebit

ebitda

interest

total debt

sales

operating income

long term debt

long term capital

total capital

free operating cashflow

funds from operations

return on capital

net operating income after taxes

Read more: http://www.investorwords.c

(Net income - Dividends) / (Debt + Equity
http://www.investorwords.com/4247/Return_on_Capital.htmlhttp://www.investorwords.com/4247/Return_on_Capital.html


28/64

Net income - Interest income + Interest expense + De

- Gains on asset sales + Losses on asset sale


29/64

2012 2011 2010 2009

EBIT 41,250,000 24,020,000 22,344,000 12,136,000

Interest 546,000 516,000 536,000 198,000

EBITDA 46,399,000 29,632,000 28,462,000 18,378,000

Interest 546,000 516,000 536,000 198,000

Funds from operation 30,107,000 16,942,000 16,232,000 11,402,000

total debt - - - 97,000

free operating cashflow 21,995,943 11,694,149 12,054,526 3,815,567

Total debt - - - 97,000

Net income - Dividends 16.45% 15.12% 16.52% 12.33%

Debt + Equity

operating income 82,556,000 71,183,000 59,906,000 46,613,000

sales 534,123,000 443,657,000 376,717,000 388,094,000

long term debt - - - 97,000

long term capital 108,488,000 103,600,000 103,575,000 103,575,000

total debt - - - 97,000

total capital 108,488,000 103,600,000 103,575,000 103,672,000

41,250,000 24,020,000 22,344,000 12,136,000

46,399,000 29,632,000 28,462,000 18,378,000

546,000 516,000 536,000 198,000

- - - 97,000

534,123,000 443,657,000 376,717,000 388,094,000

82,556,000 71,183,000 59,906,000 46,613,000

- - - 97,000

108,488,000 103,600,000 103,575,000 103,575,000

108,488,000 103,600,000 103,575,000 103,672,000

21,995,943 11,694,149 12,054,526 3,815,567

30,107,000 16,942,000 16,232,000 11,402,000

16.45% 15.12% 16.52% 12.33%

/ [total assets minus cash and investments (except in strategic alliances) minus non-i

om/4247/Return_on_Capital.html#ixzz2FD888wof

)


30/64

reciation 30,107,000 16,942,000 16,232,000 11,402,000

s


31/64

2008 2007 2012 2011 2010 2009 2008

13,628,000 6,432,000 75.55 46.55 41.69 61.29 35.03

389,000 601,000

20,844,000 13,308,000 84.98 57.43 53.10 92.82 53.58

389,000 601,000

9,982,000 4,144,000 nm nm nm 117.55 1.39

7,160,000 11,828,000

8,568,855 3,326,143 nm nm nm 39.34 1.20

7,160,000 11,828,000

10.91% 6.99% 16.45% 15.12% 16.52% 12.33% 10.91%

52,733,000 34,790,000 15.46% 16.04% 15.90% 12.01% 15.53%

339,658,000 201,000,000

278,000 491,000 - - - 0.00 0.00

103,575,000 103,575,000

7,160,000 11,828,000 - - - 0.00 0.07

103,853,000 104,066,000

13,628,000 6,432,000

20,844,000 13,308,000

389,000 601,000

7,160,000 11,828,000

339,658,000 201,000,000

52,733,000 34,790,000

278,000 491,000

103,575,000 103,575,000

103,853,000 104,066,000

8,568,855 3,326,143

9,982,000 4,144,000

10.91% 6.99%

terest-bearing liabilities].


32/64

9,982,000 4,144,000 -


33/64

2007 rating

10.70 AAA

22.14 AAA

0.35 CCC

0.28 CCC

6.99% BBB

17.31% BBB

0.00 AAA

0.11 AAA


34/64

2012

Liquidity

Current Current assets 158,254,000

current liabilities 46,581,000

quick or acid test Current assets-inventories 105,165,000

Current Liabilities 46,581,000

Asset management

Inventory turnover (x) Sales 534,123,000

Inventories 53,089,000

days sales outstanding (days) Receivables 62,731,000

Annual sales/365 534,123,000

Fixed assets turnover (x) sales 534,123,000

Net fixed assets 62,123,000

Total assets turnover sales 534,123,000


debt management

Debt ratio Total liabilities 54,185,000


Times-interest-earned EBIT 41,250,000Interest charges 546,000

EBITDA Coverage EBITDA+ lease payments 46,399,000

Interest + principal payment + lease payment 546,000

Profitability

Profit margin on sales net income available to common stockholders 30,638,000

sales 534,123,000

basic earning power EBIT 41,250,000


Return on total assets net income available to common stockholders 30,638,000

total assets 240,504,000

Retun on common equity net income available to common stockholders 30,638,000

common equity 186,319,000

Market Value

price/earnings price per share 1.3

earnings per share 0.2

price/cashflow price per share 1.3

Cash flow per share 0.3

market/book market price per share 1.3

Book value per share 1 72


35/64

Closing Prices (MYR) index stock rm ri rm-avgSep-07 1 1336.3 0.775October 2 1413.65 1.070 0.0579 0.3806 0.0028November 3 1396.98 1.060 -0.0118 -0.0093 0.0003December 4 1445.03 1.000 0.0344 -0.0566 0.0009January 5 1393.25 0.970 -0.0358 -0.0300 0.0016February 6 1357.4 0.940 -0.0257 -0.0309 0.0009

March 7 1247.52 0.950 -0.0809 0.0106 0.0073April 8 1279.86 1.000 0.0259 0.0526 0.0005May 9 1276.1 0.920 -0.0029 -0.0800 0.0001

June 10 1186.57 0.865 -0.0702 -0.0598 0.0056July 11 1163.09 0.880 -0.0198 0.0173 0.0006August 12 1100.5 0.835 -0.0538 -0.0511 0.0034September 13 1018.68 0.890 -0.0743 0.0659 0.0062October 14 863.61 0.900 -0.1522 0.0112 0.0246November 15 866.14 0.870 0.0029 -0.0333 0.0000December 16 876.75 0.780 0.0122 -0.1034 0.0001January 17 884.45 0.875 0.0088 0.1218 0.0000February 18 890.67 0.830 0.0070 -0.0514 0.0000March 19 872.55 0.715 -0.0203 -0.1386 0.0006April 20 990.74 0.815 0.1355 0.1399 0.0171May 21 1044.11 0.870 0.0539 0.0675 0.0024June 22 1075.24 0.860 0.0298 -0.0115 0.0006July 23 1174.9 0.840 0.0927 -0.0233 0.0078August 24 1174.27 0.985 -0.0005 0.1726 0.0000September 25 1202.08 0.850 0.0237 -0.1371 0.0004October 26 1243.23 0.980 0.0342 0.1529 0.0009November 27 1259.11 0.980 0.0128 0.0000 0.0001December 28 1272.78 0.940 0.0109 -0.0408 0.0000January 29 1259.16 0.950 -0.0107 0.0106 0.0002February 30 1270.78 1.010 0.0092 0.0632 0.0000

March 31 1320.57 0.940 0.0392 -0.0693 0.0012April 32 1346.38 1.200 0.0195 0.2766 0.0002May 33 1285.01 1.000 -0.0456 -0.1667 0.0025June 34 1314.02 1.170 0.0226 0.1700 0.0003July 35 1360.92 1.060 0.0357 -0.0940 0.0010August 36 1422.49 1.080 0.0452 0.0189 0.0017September 37 1463.5 1.150 0.0288 0.0648 0.0006October 38 1505.66 1.290 0.0288 0.1217 0.0006November 39 1485.23 1.160 -0.0136 -0.1008 0.0003

This company is the GUO of the


-


Publicly quoted company


36/64

December 40 1518.91 1.120 0.0227 -0.0345 0.0003January 41 1519.94 1.130 0.0007 0.0089 0.0000February 42 1491.25 1.050 -0.0189 -0.0708 0.0006March 43 1545.13 1.100 0.0361 0.0476 0.0010April 44 1534.95 1.330 -0.0066 0.2091 0.0001May 45 1558.29 1.400 0.0152 0.0526 0.0001June 46

1579.07 1.390 0.0133 -0.0071 0.0001July 47 1548.81 1.150 -0.0192 -0.1727 0.0006August 48 1447.27 1.200 -0.0656 0.0435 0.0049September 49 1387.13 1.220 -0.0416 0.0167 0.0021October 50 1491.89 1.290 0.0755 0.0574 0.0050November 51 1472.1 1.130 -0.0133 -0.1240 0.0003December 52 1530.73 1.190 0.0398 0.0531 0.0012January 53 1521.29 1.260 -0.0062 0.0588 0.0001February 54 1569.65 1.260 0.0318 0.0000 0.0007March 55 1596.33 1.280 0.0170 0.0159 0.0002April 56 1570.61 1.310 -0.0161 0.0234 0.0004

May 57 1580.67 1.290 0.0064 -0.0153 0.0000June 58 1599.15 1.460 0.0117 0.1318 0.0000July 59 1631.6 1.450 0.0203 -0.0068 0.0002August 60 1646.11 1.470 0.0089 0.0138 0.0000September 61 1665.42 1.620 0.0117 0.1020 0.0001

sum 0.2772 1.0343 0.1117

average 0.0046 0.0172

variance 0.0019

std dev 0.0431

covariancecorellation coeeficient

Beta

Unsystematic risk

market stock

0.0554 0.2069

0.1495 0.3524

0.6462

0.0103

annualised

return

std deviation

beta

Unsystematic risk


37/64

ri-avg ri-avg

0.1321 0.019356090.0007 0.0004363330.0055 -0.0021986560.0022 0.001910999

0.0023 0.001461955

0.0000 0.000564811

0.0013 0.000753959

0.0095 0.000734988

0.0059 0.0057596560.0000 -2.49313E-06

0.0047 0.003995461

0.0024 -0.003840202

0.0000 0.000941545

0.0026 8.55275E-05

0.0146 -0.000920722

0.0109 0.000435128

0.0047 -0.000165616

0.0243 0.003889374

0.0150 0.01604288

0.0025 0.002474507

0.0008 -0.000723906

0.0016 -0.003566188

0.0241 -0.000801291

0.0238 -0.002941173

0.0184 0.004018358

0.0003 -0.000140539

0.0034 -0.000362039

0.0000 0.000101133

0.0021 0.000211577

0.0075 -0.0029910150.0673 0.003870598

0.0338 0.009232472

0.0233 0.002742817

0.0124 -0.003456862

0.0000 6.61721E-05

0.0023 0.001151764

0.0109 0.002527536

0.0139 0.002146624

y = 0.64

-0.3000

-0.2000

-0.1000

0.0000

0.1000

0.2000

0.3000

0.4000

0.5000

-0.2000 -0.1500 -0.1000 -0.0500 0.0000 0.0500 0.1000 0.1500

Series

Linear

Linear


38/64

0.0027 -0.000933879

0.0001 3.27646E-05

0.0078 0.002068523

0.0009 0.000957279

0.0368 -0.002150508

0.0013 0.00037463

0.0006 -0.0002124720.0361 0.004516588

0.0007 -0.001841499

0.0000 2.64228E-05

0.0016 0.002845878

0.0200 0.002526727

0.0013 0.001262457

0.0017 -0.000448605

0.0003 -0.000468347

0.0000 -1.69051E-05

0.0000 -0.000128514

0.0011 -5.80037E-05

0.0131 0.000809882

0.0006 -0.000377493

0.0000 -1.47217E-05

0.0072 0.000602936

0.6209 0.0722

0.0103

0.1017

0.0012

0.6462

0.0103


39/64

x + 0.0129

(Series1)

(Series1)


40/64

Closing Prices (MYR) index stock rm ri rm-avgSeptember 1 1202.08 0.850 0.0001October 2 1243.23 0.980 0.0342 0.1529 0.0006November 3 1259.11 0.980 0.0128 0.0000 0.0000December 4 1272.78 0.940 0.0109 -0.0408 0.0000January 5 1259.16 0.950 -0.0107 0.0106 0.0004February 6 1270.78 1.010 0.0092 0.0632 0.0000March 7 1320.57 0.940 0.0392 -0.0693 0.0009April 8 1346.38 1.200 0.0195 0.2766 0.0001

May 9 1285.01 1.000 -0.0456 -0.1667 0.0030June 10 1314.02 1.170 0.0226 0.1700 0.0002July 11 1360.92 1.060 0.0357 -0.0940 0.0007August 12 1422.49 1.080 0.0452 0.0189 0.0013September 13 1463.5 1.150 0.0288 0.0648 0.0004October 14 1505.66 1.290 0.0288 0.1217 0.0004November 15 1485.23 1.160 -0.0136 -0.1008 0.0005December 16 1518.91 1.120 0.0227 -0.0345 0.0002January 17 1519.94 1.130 0.0007 0.0089 0.0001February 18 1491.25 1.050 -0.0189 -0.0708 0.0008March 19 1545.13 1.100 0.0361 0.0476 0.0007April 20 1534.95 1.330 -0.0066 0.2091 0.0003May 21 1558.29 1.400 0.0152 0.0526 0.0000June 22 1579.07 1.390 0.0133 -0.0071 0.0000July 23 1548.81 1.150 -0.0192 -0.1727 0.0008August 24 1447.27 1.200 -0.0656 0.0435 0.0056September 25 1387.13 1.220 -0.0416 0.0167 0.0026October 26 1491.89 1.290 0.0755 0.0574 0.0044November 27 1472.1 1.130 -0.0133 -0.1240 0.0005December 28 1530.73 1.190 0.0398 0.0531 0.0009January 29 1521.29 1.260 -0.0062 0.0588 0.0002

February 30 1569.65 1.260 0.0318 0.0000 0.0005March 31 1596.33 1.280 0.0170 0.0159 0.0001April 32 1570.61 1.310 -0.0161 0.0234 0.0007May 33 1580.67 1.290 0.0064 -0.0153 0.0000June 34 1599.15 1.460 0.0117 0.1318 0.0000July 35 1631.6 1.450 0.0203 -0.0068 0.0001August 36 1646.11 1.470 0.0089 0.0138 0.0000September 37 1665.42 1.620 0.0117 0.1020 0.0000


-


Publicly quoted company

This company is the GUO of the Corporate


41/64

sum 0.3410 0.8106 0.0271

average 1.19 0.0095 0.0225

variance 0.0008

std dev 0.0274

covariance

corellation coeeficient

BetaUnsystematic risk

market stock

0.1137 0.2702

0.0950 0.3311

1.0263

0.0091

annualised

return

std deviation

beta

Unsystematic risk


42/64

ri-avg

0.0005 0.000213279

0.0170 0.003229334

0.0005 -7.43243E-05

0.0040 -8.76919E-05

0.0001 0.000239615

0.0017 -9.91141E-06

0.0084 -0.002727918

0.0646 0.002559177

0.0358 0.0104152210.0218 0.001932548

0.0136 -0.003055473

0.0000 -0.000130494

0.0018 0.000818795

0.0098 0.001918516

0.0152 0.002840762

0.0032 -0.000752635

0.0002 0.000119491

0.0087 0.002645225

0.0006 0.000669206

0.0348 -0.002996519

0.0009 0.000172666

0.0009 -0.000114569

0.0381 0.005589006

0.0004 -0.001572834

0.0000 0.000298478

0.0012 0.002302583

0.0215 0.003332087

0.0009 0.000928298

0.0013 -0.00056782

0.0005 -0.0005024830.0000 -4.99908E-05

0.0000 -2.35718E-05

0.0014 0.000115885

0.0119 0.000242463

0.0009 -0.000317728

0.0001 5.05183E-06

0.0063 0.000179602

y = 1.0151x + 0.

-0.2000

-0.1500

-0.1000

-0.0500

0.0000

0.0500

0.1000

0.1500

0.2000

0.2500

0.3000

-0.1000 -0.0500 0.0000 0.0500 0.1000

Seri

Line

Line


43/64

0.3288 0.0278

0.0091

0.0956

0.0008

1.02630.0091


44/64

0107

es1

ar (Series1)

ar (Series1)


45/64

security rate of return beta capm

rf 3.01% 0.0000 0.0301

market 5.54% 1.0000 0.0554 2.53%

stok 20.69% 0.6462 0.1443

rf + (Erm-RF)B

expected retur BETA CAPMstokc - 0.0301 1 0.0554 0.65 0.2069

0.050 0.0314 1 0.0554 0.65 0.2069

0.100 0.0326 1 0.0554 0.65 0.2069

0.150 0.0339 1 0.0554 0.65 0.2069

0.200 0.0352 1 0.0554 0.65 0.2069

0.250 0.0364 1 0.0554 0.65 0.2069

0.300 0.0377 1 0.0554 0.65 0.2069

0.350 0.0390 1 0.0554 0.65 0.2069

0.400 0.0402 1 0.0554 0.65 0.2069

0.450 0.0415 1 0.0554 0.65 0.2069

0.500 0.0428 1 0.0554 0.65 0.2069

0.550 0.0440 1 0.0554 0.65 0.2069

0.600 0.0453 1 0.0554 0.65 0.2069

0.650 0.0466 1 0.0554 0.65 0.2069

0.700 0.0478 1 0.0554 0.65 0.2069

0.750 0.0491 1 0.0554 0.65 0.2069

0.800 0.0504 1 0.0554 0.65 0.2069

0.850 0.0516 1 0.0554 0.65 0.2069

0.900 0.0529 1 0.0554 0.65 0.2069

0.950 0.0542 1 0.0554 0.65 0.2069

1.000 0.0554 1 0.0554 0.65 0.20691.050 0.0567 1 0.0554 0.65 0.2069

1.100 0.0580 1 0.0554 0.65 0.2069

(0.

0.

0.

0.

0.


46/64


47/64

-

0.0500

0.1000

0.1500

- 0.2

Expected

return

MAGNI TE

y = 0.0253x + 0.0301

100)

400

900

400

900

- 0.2 0.4 0.6 0.8 1.0 1.2


48/64


49/64

y = 0.0253x + 0.0301

R = 1

0.4 0.6 0.8 1.0 1.2

risk

H BERHAD: RISK VS RETURN

CHART


50/64

security rate of return beta capm

rf 0.0301 0.0000 0.0301

market 0.1137 1.0000 0.1137 8.36%

stok 0.2702 1.0263 0.2765

rf + (Erm-RF)B

expected retur BETA CAPMstokc - 0.0301 1 0.1137 1.03 0.2702

0.050 0.0343 1 0.1137 1.03 0.2702

0.100 0.0385 1 0.1137 1.03 0.2702

0.150 0.0426 1 0.1137 1.03 0.2702

0.200 0.0468 1 0.1137 1.03 0.2702

0.250 0.0510 1 0.1137 1.03 0.2702

0.300 0.0552 1 0.1137 1.03 0.2702

0.350 0.0593 1 0.1137 1.03 0.2702

0.400 0.0635 1 0.1137 1.03 0.2702

0.450 0.0677 1 0.1137 1.03 0.2702

0.500 0.0719 1 0.1137 1.03 0.2702

0.550 0.0761 1 0.1137 1.03 0.2702

0.600 0.0802 1 0.1137 1.03 0.2702

0.650 0.0844 1 0.1137 1.03 0.2702

0.700 0.0886 1 0.1137 1.03 0.2702

0.750 0.0928 1 0.1137 1.03 0.2702

0.800 0.0970 1 0.1137 1.03 0.2702

0.850 0.1011 1 0.1137 1.03 0.2702

0.900 0.1053 1 0.1137 1.03 0.2702

0.950 0.1095 1 0.1137 1.03 0.2702

1.000 0.1137 1 0.1137 1.03 0.27021.050 0.1178 1 0.1137 1.03 0.2702

1.100 0.1220 1 0.1137 1.03 0.2702

R

E

T

U

R

N


51/64


52/64

100 1000

6.059013 4.101131

605.9013 243.8351

850

-

0.0500

0.1000

0.1500

- 0.2

Expected

return

MAGNI TE

y = 0.0836x + 0.0301

(0.0100)

0.0400

0.0900

0.1400

0.1900

0.2400

0.2900

0.3400

- 0.2 0.4 0.6 0.8 1.0 1.2

BETA

MAGNI-TECH : RISK VS RETURN CHART


53/64


54/64

y = 0.0836x + 0.0301

R = 1

0.4 0.6 0.8 1.0 1.2

risk

H BERHAD: RISK VS RETURN

CHART


55/64

DIV

G

DIV (1)

3 YEARS CAPM (3 years)

5 YEARS CAPM (5 years

ROE

DPS

EPS

PAYOUT RATIO

1-dps/eps

AVERAGE RETURN STOCK 5 years

AVERAGE RETURN STOCK 3 years

ITEM FORMULA

CURRENT MP

1 HISTORICAL AVG RETURN (5 YEARS)

2 CAPM 3 YEARS

EPS 1

PE

3 PE METHOD EPS 1 X PE

PE MARKET

4 MKT PE METHOD EPS 1 X PE MKT

5 GROUP PE

BV

FORECAST BV

CURRENT PRICE

6 P/BV MULTIPLE

AVERAGE PB

7 AVG P/BV


56/64

0.06

12.95%

0.07

27.65%

4.65%

16.44%

0.06

0.28

21.25%

78.75%

20.69%

27.02%

UPSIDE/DOWNSIDE

(RM)

1.60

0.88 -45.25%

0.46 -71.19%

0.33

5.6

1.84 15.10%

15.31

5.03 214.67%

1.72

1.88

1.60

1.75 9.57%

0.85

1.60 0.22%


57/64

30 Apr 2012

1.12

EBIT 41,250,000

taxes (10,236,000)

NOPAT 31,014,000

plus total amortisation and depreciation 5,149,000

operating cashflow 36,163,000

less

inv in operating capital 14,167,057

free cash flow 21,995,943

0.20


58/64

30 Apr 2011 30 Apr 2010 30 Apr 2009 30 Apr 2008 30 Apr 2007

24,020,000 22,344,000 12,136,000 13,628,000 6,432,000

(5,999,000) (5,303,000) (4,197,000) (2,881,000) (1,533,000)

18,021,000 17,041,000 7,939,000 10,747,000 4,899,000

5,684,000 6,307,000 6,300,000 7,356,000 7,055,000

23,705,000 23,348,000 14,239,000 18,103,000 11,954,000

12,010,851 11,293,474 10,423,433 9,534,145 8,627,857

11,694,149 12,054,526 3,815,567 8,568,855 3,326,143

0.11 0.12 0.04 0.08 0.03


59/64


Closing Prices (MYR) 2007

January 0.81 1189.35

February 0.84 3.70% 1196.45 0.60%

March 0.79 -5.95% 1246.87 4.21%April 0.75 -5.06% 1322.25 6.05%

May 0.75 0.00% 1346.89 1.86%

June 0.8 6.67% 1354.38 0.56%

July 0.78 -2.50% 1373.71 1.43%

August 0.75 -3.85% 1273.93 -7.26%

September 0.775 3.33% 1336.3 4.90%

October 1.07 38.06% 1413.65 5.79%

November 1.06 -0.93% 1396.98 -1.18%

December 1 -5.66% 1445.03 3.44%

0.97 -3.00% 1393.25 -3.58%

0.94 -3.09% 1357.4 -2.57%

0.95 1.06% 1247.52 -8.09%

1 5.26% 1279.86 2.59%

0.92 -8.00% 1276.1 -0.29%

0.865 -5.98% 1186.57 -7.02%

0.88 1.73% 1163.09 -1.98%

0.835 -5.11% 1100.5 -5.38%

0.89 6.59% 1018.68 -7.43%

0.9 1.12% 863.61 -15.22%

0.87 -3.33% 866.14 0.29%

0.78 -10.34% 876.75 1.22%0.875 12.18% 884.45 0.88%

0.83 -5.14% 890.67 0.70%

0.715 -13.86% 872.55 -2.03%

0.815 13.99% 990.74 13.55%

0.87 6.75% 1044.11 5.39%

0.86 -1.15% 1075.24 2.98%

0.84 -2.33% 1174.9 9.27%

0.985 17.26% 1174.27 -0.05%

0.85 -13.71% 1202.08 2.37%

0.98 15.29% 1243.23 3.42%

0.98 0.00% 1259.11 1.28%0.94 -4.08% 1272.78 1.09%

0.95 1.06% 1259.16 -1.07%

1.01 6.32% 1270.78 0.92%

0.94 -6.93% 1320.57 3.92%

1.2 27.66% 1346.38 1.95%

1 -16.67% 1285.01 -4.56%

1.17 17.00% 1314.02 2.26%

1.06 -9.40% 1360.92 3.57%


60/64

1.08 1.89% 1422.49 4.52%

1.15 6.48% 1463.5 2.88%

1.29 12.17% 1505.66 2.88%

1.16 -10.08% 1485.23 -1.36%

1.12 -3.45% 1518.91 2.27%

1.13 0.89% 1519.94 0.07%

1.05 -7.08% 1491.25 -1.89%1.1 4.76% 1545.13 3.61%

1.33 20.91% 1534.95 -0.66%

1.4 5.26% 1558.29 1.52%

1.39 -0.71% 1579.07 1.33%

1.15 -17.27% 1548.81 -1.92%

1.2 4.35% 1447.27 -6.56%

1.22 1.67% 1387.13 -4.16%

1.29 5.74% 1491.89 7.55%

1.13 -12.40% 1472.1 -1.33%

1.19 5.31% 1530.73 3.98%

1.26 5.88% 1521.29 -0.62%

1.26 0.00% 1569.65 3.18%

1.28 1.59% 1596.33 1.70%

1.31 2.34% 1570.61 -1.61%

1.29 -1.53% 1580.67 0.64%

1.46 13.18% 1599.15 1.17%

1.45 -0.68% 1631.6 2.03%

1.47 1.38% 1646.11 0.89%

1.62 10.20% n.a. #VALUE!

n.a. #VALUE!

n.a. #VALUE!n.a. #VALUE!


61/64

2007_Jan stock retur mkt return

2007_Feb 3.70% 0.60%

2007_Mar -5.95% 4.21%2007_Apr -5.06% 6.05%

2007_May 0.00% 1.86%

2007_Jun 6.67% 0.56%

2007_Jul -2.50% 1.43%

2007_Aug -3.85% -7.26%

2007_Sep 3.33% 4.90%

2007_Oct 38.06% 5.79%

2007_Nov -0.93% -1.18%

2007_Dec -5.66% 3.44%

2008_Jan -3.00% -3.58%

2008_Feb -3.09% -2.57%

2008_Mar 1.06% -8.09%

2008_Apr 5.26% 2.59%

2008_May -8.00% -0.29%

2008_Jun -5.98% -7.02%

2008_Jul 1.73% -1.98%

2008_Aug -5.11% -5.38%

2008_Sep 6.59% -7.43%

2008_Oct 1.12% -15.22%

2008_Nov -3.33% 0.29%

2008_Dec -10.34% 1.22%2009_Jan 12.18% 0.88%

2009_Feb -5.14% 0.70%

2009_Mar -13.86% -2.03%

2009_Apr 13.99% 13.55%

2009_May 6.75% 5.39%

2009_Jun -1.15% 2.98%

2009_Jul -2.33% 9.27%

2009_Aug 17.26% -0.05%

2009_Sep -13.71% 2.37%

2009_Oct 15.29% 3.42%

2009_Nov 0.00% 1.28%2009_Dec -4.08% 1.09%

2010_Jan 1.06% -1.07%

2010_Feb 6.32% 0.92%

2010_Mar -6.93% 3.92%

2010_Apr 27.66% 1.95%

2010_May -16.67% -4.56%

2010_Jun 17.00% 2.26%

2010_Jul -9.40% 3.57%

-0.

-0.

0.

0.

0.

0.

-0.2 -0.15 -0.1 -0.05

Series1 Li


62/64

2010_Aug 1.89% 4.52%

2010_Sep 6.48% 2.88%

2010_Oct 12.17% 2.88%

2010_Nov -10.08% -1.36%

2010_Dec -3.45% 2.27%

2011_Jan 0.89% 0.07%

2011_Feb -7.08% -1.89%2011_Mar 4.76% 3.61%

2011_Apr 20.91% -0.66%

2011_May 5.26% 1.52%

2011_Jun -0.71% 1.33%

2011_Jul -17.27% -1.92%

2011_Aug 4.35% -6.56%

2011_Sep 1.67% -4.16%

2011_Oct 5.74% 7.55%

2011_Nov -12.40% -1.33%

2011_Dec 5.31% 3.98%

2012_Jan 5.88% -0.62%

2012_Feb 0.00% 3.18%

2012_Mar 1.59% 1.70%

2012_Apr 2.34% -1.61%

2012_May -1.53% 0.64%

2012_Jun 13.18% 1.17%

2012_Jul -0.68% 2.03%

2012_Aug 1.38% 0.89%

2012_Sep 10.20%

2012_Oct

2012_Nov2012_Dec

-0.2

-0.1

0

0.1

0.2

0.3

0.4

-0.2 -0.15 -0.1 -0.05 0

Series1 Linear (


63/64

y = 0.5627x + 0.0115

2

1

0

1

2

3

4

0 0.05 0.1 0.15

inear (Series1)


64/64

y = 0.5627x + 0.0115

0.05 0.1 0.15

Series1)

Documents

Table Finance-nov 15