Hi guys,

recently I am looking at Dialog and today I read few research report by few houses. Most of the researcher used DCF with diff WACC.

Just wondering how do they determined the WACC and where do they obtain the CF for each Centralised Terminal Facilties(CTF).

Since each terminal Cash Flow are not provided publicly and each research house report has diff CF for the same CTF. Hence I am curious how these analyst figure out each terminal Cash flow then.

Pls refer to the attachment for the screenshot.

Maybank report: Kertih CTF: WACC - 10.5%
Amresearch report: Kertih CTF: WACC - 7%
RHB report: Kertih CTF: WACC - 7.2%
OSK report: Kertih CTF: WACC - 6%

Anyone here und how they derived the Value for each CTF?




Attached thumbnail(s)

hahaha i was thinking the same but how bout the DCF part? Any idea how they determine the CF?

DCF = CF / (1 + wacc) etc etc etc

They simply adjust wacc to get what they want. CF part Also simply come out with an amount to get the DCF they wanted?

This post has been edited by cristiano7mu: Feb 20 2013, 11:00 PM