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Saturday, 27 June 2015

Matrix Concept Holdings Bhd - Looking Forward for Free Warrants & Dividends

Dear Readers,

Matrix - Price traded at high of 3.33 @ 22nd May 2015. Since then retraced to RM 3.05 (8.5%)




4 Quarters 2014 EPS -

Q1 2014 EPS = 12. 8
Q2 2014 EPS = 14
Q3 2014 EPS = 10.5
Q4 2014 EPS = 12.4

Total 2014 EPS= 49.7
Let's assume I am using current price to divide 2014 's EPS = Price 3.05/49.7 = P/E = 6.13 (personal forecast).




1st Quarter 2015 EPS - 25.2 (can't use it for calculation)

FYI, I am not using Matrix's 1Q 2015 EPS to do assumption due to the one off higher contribution from industrial land sales and higher billings from property development before GST.

Let's assume the balance 3 Quarterly Reports from Matrix earnings are the lowest in 2014 which is Q3 @ 10.5.
Q1 2015 @ 25.2 + 10.5 + 10.5 +10.5 = EPS of 56.7
Price = 3.05 / 56.7 = P/E = 5x

The good thing is the Management Team has reaffirmed the Dividend Payout of 40%. I am using let's say 0.20 to pay out for the 2015's dividend is work out to be 6.5%. I am looking for the Bonus Issue and Free Warrants of 1/6 shares held.
 






As the management already paid 4 cents last week, I am expecting another 16 cents balance for 2015's dividend which work out to be around 5%.

As the property sector is not looking this year, the decision is up to you. One thing I like about this company is the Big Boss Dato' Lee donated 5m shares to Chung Wah High School in PD post IPO.

If the man is willingly share his success and wealth with those who are in need, I believe in his Prudent Management and Leadership.


 Disclaimer and Declaration

The full content of the article is for educational purposes only and should not be used as investment recommendations. We are not responsible for all investment activities conducted by the participants and cannot be held liable for any investment loss. Examples of specific shares may be citied for illustration purposes.

Regards,

Humble Pie




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