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Sunday, August 6, 2017


QAF - 6th Aug 2017

I have roughly work out the discounted Eps for past four years . Using current eps of 9.05 cents ( diluted eps - excluding divestment gain). 
CAGR 19.8%
Discount Factor - 8% ( more than double the 4% special account)
The Intrinsic value is $1.76 x 0.85 = $1.50.

Current price is $1.305, Yield 3.8%( 5 cents dividend p.a.), NAV 95.5 cents.
ROE 22%
Net income margin 13.8%
Net cash position

TA wise it is currently trading above the 20SMA line. 
It might have to make an attempt to clear 1.335 in order for it to rise further towards 1.36.

I think current price still has about 15% room to rise towards the Eps DCF value of $1.50.
Not a call to buy or sell.

( trade base on your own decision)

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