FIGURE 1: DUTALAND BHD LAST
5 YEARS SHARE PRICE TREND
**analysis
based on 2019 annual report.
1.
GENERAL INTRO: DUTALAND had been one of the main
oil palm plantations in Malaysia.
2.
NOTABLE POINTS:
a. In
2019 report, main business segments include operation of oil palm plantations
and property development.
b. The
Group gained RM395.7 million from the disposal of its plantation assets in
FY2018. The main contributor to the Group’s revenue now is its property
division.
c. The
Group currently has RM410.7 million invested in money market fund, it is
looking for viable business ventures and will ensure all assets are being
managed prudently.
3.
IS THIS COUNTER A STRONG GROWTH STOCK?
a. REVENUE
RANGE (RM million): 26.7 million as reported in 2019 annual report, this is a very
low revenue company.
b. SHARE
PRICE: from 2015-2019, share price ranged between RM0.40 to RM0.60
c. EARNING
PER SHARE (EPS): earning per share in last 5 years fluctuated from -0.44 to 45.6
sen.
d. FUTURE
POTENTIAL/PROSPECTS: share price expect to be stable in the next few years
e. CAPITAL
EXPENDITURE (CAPEX): spending on purchase of new fixed assets is RM 45.4
million, around 3% of total assets.
4.
IS THIS A STRONG DIVIDEND STOCK?
a. DIVIDEND
YIELD: in 2019 financial year, DUTALAND declared a dividend payout of 5 sen per
share to shareholders. The dividend amounts to a dividend yield of 11.76%.
b. DIVIDEND
PAYOUT RATIO: In FY2019, DUTALAND paid out 333% of its earnings to shareholders
in the form of dividend.
c. CONSISTENCY:
the dividend payout was not consistent, the dividend paid to shareholders in the
last five years (2015-2019) ranged from 0 to 5 sen per share.
5.
IS THE MANAGEMENT PERFORMANCE GOOD?
a. RETURN
ON EQUITY (ROE): in 2019 financial year, GOLDEN LAND reported a low return of
shareholders’ equity, at 0.82%.
b. COST-TO-INCOME
RATIO: cost-to-income ratio is high at 128%
6.
OTHER INDICATORS:
a. CASH
FLOW: cash flow is positive, around RM 73.3 million, equivalent to RM 0.09 per
share
b.
SUPPORT BY INSTITUTIONAL INVESTORS: this counter
is not well supported by institutional investors, there are only 9 institutional
investors at top 30 major shareholders list, not including insurance companies and
investment funds. Its major shareholders are Kenny Height Developments Sdn Bhd (31.74%)
and Duta Equities Sdn. Bhd. (25.02%).
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