QL Analysis:-

http://lcchong.wordpress.com/2014/03/10/ql...is-10-mar-2014/

My View:-

- Fair value/Market Timing
  – Absolute PE: 2.77 (MOS: -16.65%)
  – EY%: Buy below 1.88, sell above 2.98 (MOS: -8.52%)
- The drivers of FY14 results:
  – higher surimi-based products sales due to the year-end festival season,
  – ILF, due to lower feed prices which have started to decline in 3Q but stable egg selling prices
  – the continuous improvement in MPM results with margins sustaining above the 5-year average of 14% in the recent quarters
  – higher-than-expected CPO price and higher FFB volume processed
- I believe that the current price already factored in the growth drivers.
- I won’t buy QL for the time being.

Latest Financial – Q3 2014 Financial Report (20 Feb 2014) http://www.bursamalaysia.com/market/listed...cements/1543481

At the time of writing, I did not own shares of QL.