Wednesday 27 November 2013

Guesstimate Canone's EPS post sale of Kianjoo

Value of Kianjoo at RM3.30/share = RM1,465,753,693.8

Value of 32.9% stake in Kianjoo held by Canone = RM482,232,965.26

Canone's debt as of 30 September 2013 = RM467,818

Canone will be in net cash post disposal of Kianjoo

Assume the sale proceeds to be utilised to fully settle the debt => zero finance cost


Annualise the 9M results, operating profit= RM78.384m

Ignore interest income and apply zero financial expenses assuming all the debts are fully settled, PBT is RM78.384

Assuming 25% tax rate, net profit = RM58.788m

Assuming minority interest 10%, PATAMI = RM52.9092m

Canone total number of oustanding shares = 152.4m

EPS = 34.7sen

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