Thursday, February 26, 2009

Faber Group (1368)



Faber Group Berhad (Faber) a member of the UEM Group is listed on the Main Board of Bursa Malaysia Securities Berhad. From a Malaysian hospitality concern in early 1960s, following its successful restructuring exercise and strategic initiatives Faber has grown into a key player in Integrated Facilities Management and Property Solutions sectors.

current price RM0.69
PE 1.63
Real PE 4.23
revenue -11.68%
profit +47.71%
Asset -15.21%
Asset ps RM2.10
liabilities -26.48%
liabilities ps RM1.07
Inventory -32.05%
Short term investment and deposit +2.21%
shot trem investment and deposit ps RM0.58
cash +188.41%
cash ps RM0.38
NTA RM0.86
Proposed div 0.04
div yeild 5.8%

Faber group managed to perform with higher net profit despite reported a lower revenue for this quarter by 15% due to lower cost of sales and expenses bringing a total EPS for y08 to 42.89sen per share. However EPS has increased by 160% from 15.98 was due to disposal of subsidary valued at 26.57 per share. The real value of EPS is 16.33sen, up 2.19% from last year.So, Faber is actually trading at PE 4.23.not sure the way i'm value is right or not, please correct me if im wrong.However the balance sheet continue to be strong and currently trading below NTA value and backed by a quite strong cash.I think Faber doing good on its own way. From being a loss-making, debt-saddled company just several years ago, it is now highly profitable, better liabilities or cash flowand focused with two core businesses which are facilities management (healthcare and non-healthcare) and property development.healthcare industry should be a semi defensive sector but i'm a bit blur about the property division.


Theres no doubt earning from property division going to slow down but i think Faber able to survive well, with PE trading below 10 or at least 15 or 20? :p.I'm sure other property developers going to face the same problem as well.Looks like they are going to declare a divided around 0.04sen which very attractive to me atm.

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