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A) DiGi Telecommunications Sdn. Bhd.

s share price underperformed in 2013


by 6.2% compared to the benchmark FTSE Bursa Malaysia KLCI Index which
gained 10.5%. The share price was affected by dividend distribution limitation within
100% payout, and concerns on rising bond yield the market. Nonetheless, the share
price regained momentum post the fourth quarter results which showcased a solid
performance round-up for the year.

DiGi has also consistently proven its ability to create long-term shareholder value in a
vibrant market with intense competition. This is reflected through the Companys
strong returns to shareholders over the years. To this end, DiGi shareholders were
rewarded a net dividend per share of 21.3 sen, or a total dividend of RM1.656 billion
for 2013. The dividend pay-out ratio of 97% exceeds the Companys dividend policy
of distributing a minimum 80% of its net profits.

B) DiGi Telecommunications Sdn. Bhd.


We adopted the Value Investing strategy and Bottom-Up strategy into this
company. This is because, DiGi Telecommunications Sdn. Bhd. has a revenue growth
from 2009 to 2013.

In 2013, DiGi delivered 41.3% growth on Earnings Per Share (EPS), up 6.4 sen
over the previous year to 21.9 sen (2012: 15.5 sen). This shows a distinct cash-flow
advantage by focusing on value in consideration of earnings per dollar invested.
When a company keeps its earnings, these dollars serve as additional capital.

The value investing reduces probability of a large loss by purchasing equities


with a high margin of safety. It can against the herd whereby hot tips and fad do not
impact the investor judgement. It provides consistent returns which regularly
outperform the S&P over a twenty year.

Besides that, Bottom-up investing, by contrast, starts from the micro end by
looking at key items related to individual firms. Bottom-up investors have the great
advantage of basing their decisions on what they know about stocks. For experienced
investors who have a good sense of short-term market performance, and know what to
look for in a given stock, a bottom-up approach may have high gains, particularly
during periods of decline, or bear markets. In addition, Bottom-up investing focus on
the quality of individual stocks and their ability to generate returns

In December 2013, DiGi Telecommunications Sdn. Bhd. expanded network


collaboration initiative with Celcom where both parties signed a deal with Telekom
Malaysia for its next-generation backhaul services. The agreement supports DiGis
ambition to rollout over 10,000 kilometres of fibre network nationwide to deliver high
quality internet connectivity to more Malaysians. Therefore, stocks of DiGi keep
increase year and year.
C)

Ratio 2009 2010 2011 2012 2013


Analysis
Earnings 12.9 15.2 16.1 15.5 21.9
per share
Current 0.4315 0.5858 0.6258 0.5157 0.5256
Ratio 874096 1330782 1622832 1404241 1279183
2025786 2271589 2593257 2722920 2433966

Dividend 1.3798 1.0724 1.0870 1.6968 0.9726


Payout 17.8 16.3 17.5 26.3 21.3
12.9 15.2 16.1 15.5 21.9
Ratio
Retention -0.3798 -0.0724 -0.0870 -0.6968 0.0274
Ratio 1-1.3798 1-1.0724 1-1.0870 1-1.6968 1-0.9726
Return on 21.1% 22.9% 25.8% 30.0% 45.5%
asset
Profit 20.37% 21.79% 21.03% 18.96% 25.34%
Margin 1000 1178 1254 1206 1706
4910 5406 5964 6361 6733

Equity 3.1111 3.8137 3.4465 15.3793 5.6762


Multiplier 4732 5137 4863 4014 3752
1521 1347 1411 261 661

Total Asset 21.14% 22.93% 25.79% 30.05% 45.47%


Turnover 1000 1178 1254 1206 1706
4732 5137 4863 4014 3752

DuPont 65.7% 87.5% 88.9% 462.1% 258.1%


identity/RO
E
Return On 1,000,471772,503
1,353,053772,751
1,698,770772751
1,889,956772,751
1,262,883772,751
772,503 772,751 772,751 772,751 772,751
Investment
=29.51% =75.09% =119.83% =140.46% =63.42%
For financial year 2013, the dividend payout ratio was 97% of earnings
(exceeding the minimum 80% payout commitment) with a total dividend of RM1,656
million or 21.3 sen per share. Overall, year-on-year total dividend payout (excluding a
special dividend of 8.0 sen in financial year 2012) increased by 16%. Finally, DiGi is
committed to continuously create value and deliver good returns to shareholders.

DiGis strong performance has been clearly acknowledged in the market through
its recognition as Company of the Year at The Edge Billion Ringgit Club 2013
Awards. In addition to the main award, DiGi also won the Best Performing Stock
award for companies with a market capitalisation of over RM10 billion, and for Most
Profitable Company in the trading and services category. These awards follow the
previous years achievement of being listed as a Forbes Asia Fabulous 50 Company,
and testimony to the resilience and ability of DiGis management team and employees
to time and again deliver solid results ahead of its peers, in an ever competitive
marketplace.

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