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1.0 INTRODUCTION
Lingkaran Trans Kota Sdn Bhd (LITRAK) is a wholly owned subsidiary of Lingkaran Trans Kota Holdings Berhad, a company listed on the Kuala Lumpur Stock Exchange.
It completes the Middle Ring Road 2, at the western part of the Klang Valley providing much needed second ring road, which allows you to bypass congested city roads. It does not only alleviate congestion in the city but also allows for greater capacity on the north-south corridor, stretching 40km from Sri Damansara in the south, connecting Petaling Jaya and Puchong. Moreover, it links you to Putrajaya, Cyberjaya and the Hicom-Shah Alam industrial area
1.1 Board of director Tan Sri Dato’ Setia Haji Ambrin as a Independent Non-Executive Director. He holds a Degree in Economics from the University of Malaya and Masters in International Business from the University of South Carolina, USA. He was appointed the Auditor General of Malaysia on 22 February 2006 upon his retirement after having served the Government (Malaysian Civil Service) for over 35 years. He completed his tenure as Auditor General of Malaysia on 22 February 2017. His working career includes experience in the Ministry of Trade and lndustry from 1971 to 1982 and was appointed as Deputy Director, Small Scale Industries Division in 1981.
Ir Haji Yusoff is Non-Independent Executive Director. He graduated from the University of Brighton with a Bachelor of Science (Honours) Degree in Electrical Engineering in 1968. He joined National Electricity Board (LLN), Kota Bharu immediately after his graduation and in 1970 he was posted to Kedah as Assistant Engineer Consumers. In 1974, he was promoted to District Engineer where he was responsible for the planning and implementation of electricity supply for northern Kedah and Perlis. In 1977, he became the Senior District Manager, Kuala Terengganu, where he was responsible for the overall management and operations of electricity supply in Terengganu. From 1979 to 1980, he was attached to Petronas in the Special Projects Department as its Deputy Head responsible for the planning of the Peninsular Gas Utilisation Project.
2.0. Ratio analysis for Lingkaran Trans Kota Holdings Berhad
2.0.1. Current Ratio
YEAR
AMOUNT (RM) Current Assets
CALCULATION (times)
Current Liabilities
Current Assets ÷ Current Liabilities
2015 2016
514,746,000
158,205,000
3.25
2017
652,066,000
205,416,000
3.17
2018
Current Ratio 3.5 3 2.5 2 1.5 1 0.5 0 2015
2016
2017
2018
Analysis: From 2015 to 2018, the above ratio shows increasing and decreasing trend. This ratio measures financial risk to the company. Based on trend, the value above 1 indicates that the company is financially healthy to settle short term debt obligate.
2.0.2. Quick Ratio
YEAR
AMOUNT (RM) Current Assets
Inventory
CALCULATION (times)
Current Liabilities
(Current Assets – Inventory) ÷ Current Liabilities
2015 2016
514,746,000
0
158,205,000
3.25
2017
652,066,000
0
205,416,000
3.17
2018
Quick Ratio 3.5 3 2.5 2 1.5 1 0.5 0 2015
2016
2017
2018
Analysis: From 2015 to 2018, the above ratio shows increasing and decreasing trend. This ratio measures financial risk to the company. Based on trend, the value above 1 indicates that the company is financially healthy to settle short term debt obligate.
2.0.3. Inventory Turnover
YEAR
AMOUNT (RM)
CALCULATION (times)
Cost of goods sold
Inventory
Cost of goods sold ÷ Inventory
2016
416,235,000
0
0
2017
239,838,000
0
0
2015
2018
Inventory Turnover 1 0.9 0.8 0.7 0.6 0.5 0.4 0.3 0.2 0.1 0 2015
2016
2017
2018
Analysis: From 2015 to 2018, the inventory turnover is the inventory turnover is at 0.00 times.
2.0.4. Total asset turnover
YEAR
AMOUNT (RM)
CALCULATION (days)
Revenue
Total Assets
Revenue ÷ Total assets
2016
416,235,000
2,239,023,000
0.18
2017
132,300,000
2,279,153,000
0.06
2015
2018
Total Asset Turnover 0.07 0.06 0.05 0.04
0.03 0.02 0.01 0 2015
Analysis:
2016
2017
2018
From 2015 to 2018, the above ratio shows trend. This ratio measures the company are eficient in collecting an account receivable. Based on trend, this company will less expose to risk.
2.0.5. Debt Ratio
YEAR
AMOUNT (RM)
CALCULATION (%)
Total Liabilities
Total Assets
Total Liabilities ÷ Total Assets
2016
1,631,675,000
2,239,023,000
0.72
2017
1,563,579,000
2,279,153,000
0.68
2015
2018
Debt Ratio 0.8 0.7
0.6 0.5 0.4 0.3 0.2 0.1 0 2015
2016
2017
2018
Analysis: From 2015 to 2018, the above ratio shows trend. This ratio measures financial risk to the company. Based on trend, company must be wary in adopting another risk.
2.0.6. Times Interest Earned Ratio
YEAR
AMOUNT (RM) Earnings Before
Interest
Interest & Taxes
CALCULATION (times) Earnings Before Interest & Taxes ÷ Interest
2015 2016
228,676,000
(54,579,000)
2017
292,436,000
71,402,000
2018
4.09
Times Interest Earned Ratio 4.5 4 3.5 3 2.5 2 1.5 1 0.5 0 2015
2016
2017
2018
Analysis: From 2015 to 2018, the above ratio shows decreasing trend. This ratio measures the company’s ability to make contractual interest payments. Based on trend, the company does not able to fulfill their interest obligations.
2.0.7. Return on Total Assets (ROA) YEAR
AMOUNT (RM) Earnings Available for
Total Assets
Common Stockholders
CALCULATION (%) Earnings Available for Common Stockholders ÷ Total Assets
2015 2016
228,676,000
2,239,023,000
0.10
2017
491,785,000
2,279,153,000
0.22
2018
Return on Total Assets 0.45 0.4 0.35 0.3 0.25 0.2 0.15 0.1 0.05 0 2015
2016
2017
2018
Analysis: From 2015 to 2018, the above ratio shows slightly decreasing trend. This ratio measures the overall effectiveness of management in generating profits with its available assets. Based on trend, this company is ability to get higher profits from its available assets if they changed their bussiness strategy.
2.0.8. Return on Common Equity (ROE)
YEAR
AMOUNT (RM)
CALCULATION (%)
Earnings Available for
Common
Earnings Available for Common
Common Stockholders
Stock Equity
Stockholders ÷ Common Stock Equity
2015 2016
607,348,000
607,348,000
100
2017
491,785,000
491,785,000
100
2018
Return on Common Equity 120
100
80
60
40
20
0 2015
2016
2017
2018
Analysis: From 2015 to 2016, the above ratio shows at 100%. This ratio measures the return earned on the common stockholder’s investment in the company. Based on trend, this company shows the ability to deliver high return to investors.
2.0.9. Price / Earnings (P/E) Ratio
YEAR
AMOUNT (RM)
CALCULATION (times)
Market Price Per Share
Earnings Per
Market Price Per Share of
of Common Stock
Share
Common Stock ÷ Earnings Per Share
2015
5.06
2016
5.88
33.46
0.18
2017
5.55
42.07
0.13
2018
4.60
Price / Earnings Ratio 0.14 0.12 0.1 0.08 0.06 0.04 0.02 0 2015
2016
2017
2018
Analysis: From 2015 to 2018, the above ratio shows slightly increasing trend. This ratio measures the amount that investors are willing to pay for each amount of a company’s earnings. Based on trend, the stock with a high P/E is generally expected to increase in value.
2.0.9.1 Market / book ratio YEAR
AMOUNT (RM) Market Price Per Share of Common Stock
CALCULATION (times)
Book value per
Market Price Per Share of
share of common Common Stock ÷ Book value per stock
share of common stock
2015
5.06
2016
5.88
5.07
1.16
2017
5.55
3.22
0.58
2018
4.60
Price / Earnings Ratio 0.7 0.6 0.5 0.4 0.3 0.2 0.1 0 2015
2016
2017
2018
Analysis: From 2015 to 2018, the above ratio shows slightly increasing trend. This ratio measures the amount that investors are willing to pay for each amount of a company’s earnings. Based on trend, the stock with a high P/E is generally expected to increase in value.
Summary of ratio analysis.
RATIO Current ratio Liquidity
(times) Quick ratio (times)
2015
2016
2017 3.17
3.17
2018
Inventory turnover (times) Activity
0
Average collection period
0.06
(days) Debt ratio (%) Debt
Times interest earned (times) Return on total assets (%)
Profitability
0.68 4.09
0.22
Return on common equity
100
(%) Price / earnings Market
ratio (times) Market / book ratio (times)
0.13
0.58
Lingkaran Trans Kota Sdn Bhd (LITRAK) is a wholly owned subsidiary of Lingkaran Trans Kota Holdings Berhad, a company listed on the Kuala Lumpur Stock Exchange.
It completes the Middle Ring Road 2, at the western part of the Klang Valley providing much needed second ring road, which allows you to bypass congested city roads. It does not only alleviate congestion in the city but also allows for greater capacity on the north-south corridor, stretching 40km from Sri Damansara in the south, connecting Petaling Jaya and Puchong. Moreover, it links you to Putrajaya, Cyberjaya and the Hicom-Shah Alam industrial area
1.1 Board of director Tan Sri Dato’ Setia Haji Ambrin as a Independent Non-Executive Director. He holds a Degree in Economics from the University of Malaya and Masters in International Business from the University of South Carolina, USA. He was appointed the Auditor General of Malaysia on 22 February 2006 upon his retirement after having served the Government (Malaysian Civil Service) for over 35 years. He completed his tenure as Auditor General of Malaysia on 22 February 2017. His working career includes experience in the Ministry of Trade and lndustry from 1971 to 1982 and was appointed as Deputy Director, Small Scale Industries Division in 1981.
Ir Haji Yusoff is Non-Independent Executive Director. He graduated from the University of Brighton with a Bachelor of Science (Honours) Degree in Electrical Engineering in 1968. He joined National Electricity Board (LLN), Kota Bharu immediately after his graduation and in 1970 he was posted to Kedah as Assistant Engineer Consumers. In 1974, he was promoted to District Engineer where he was responsible for the planning and implementation of electricity supply for northern Kedah and Perlis. In 1977, he became the Senior District Manager, Kuala Terengganu, where he was responsible for the overall management and operations of electricity supply in Terengganu. From 1979 to 1980, he was attached to Petronas in the Special Projects Department as its Deputy Head responsible for the planning of the Peninsular Gas Utilisation Project.
2.0. Ratio analysis for Lingkaran Trans Kota Holdings Berhad
2.0.1. Current Ratio
YEAR
AMOUNT (RM) Current Assets
CALCULATION (times)
Current Liabilities
Current Assets ÷ Current Liabilities
2015 2016
514,746,000
158,205,000
3.25
2017
652,066,000
205,416,000
3.17
2018
Current Ratio 3.5 3 2.5 2 1.5 1 0.5 0 2015
2016
2017
2018
Analysis: From 2015 to 2018, the above ratio shows increasing and decreasing trend. This ratio measures financial risk to the company. Based on trend, the value above 1 indicates that the company is financially healthy to settle short term debt obligate.
2.0.2. Quick Ratio
YEAR
AMOUNT (RM) Current Assets
Inventory
CALCULATION (times)
Current Liabilities
(Current Assets – Inventory) ÷ Current Liabilities
2015 2016
514,746,000
0
158,205,000
3.25
2017
652,066,000
0
205,416,000
3.17
2018
Quick Ratio 3.5 3 2.5 2 1.5 1 0.5 0 2015
2016
2017
2018
Analysis: From 2015 to 2018, the above ratio shows increasing and decreasing trend. This ratio measures financial risk to the company. Based on trend, the value above 1 indicates that the company is financially healthy to settle short term debt obligate.
2.0.3. Inventory Turnover
YEAR
AMOUNT (RM)
CALCULATION (times)
Cost of goods sold
Inventory
Cost of goods sold ÷ Inventory
2016
416,235,000
0
0
2017
239,838,000
0
0
2015
2018
Inventory Turnover 1 0.9 0.8 0.7 0.6 0.5 0.4 0.3 0.2 0.1 0 2015
2016
2017
2018
Analysis: From 2015 to 2018, the inventory turnover is the inventory turnover is at 0.00 times.
2.0.4. Total asset turnover
YEAR
AMOUNT (RM)
CALCULATION (days)
Revenue
Total Assets
Revenue ÷ Total assets
2016
416,235,000
2,239,023,000
0.18
2017
132,300,000
2,279,153,000
0.06
2015
2018
Total Asset Turnover 0.07 0.06 0.05 0.04
0.03 0.02 0.01 0 2015
Analysis:
2016
2017
2018
From 2015 to 2018, the above ratio shows trend. This ratio measures the company are eficient in collecting an account receivable. Based on trend, this company will less expose to risk.
2.0.5. Debt Ratio
YEAR
AMOUNT (RM)
CALCULATION (%)
Total Liabilities
Total Assets
Total Liabilities ÷ Total Assets
2016
1,631,675,000
2,239,023,000
0.72
2017
1,563,579,000
2,279,153,000
0.68
2015
2018
Debt Ratio 0.8 0.7
0.6 0.5 0.4 0.3 0.2 0.1 0 2015
2016
2017
2018
Analysis: From 2015 to 2018, the above ratio shows trend. This ratio measures financial risk to the company. Based on trend, company must be wary in adopting another risk.
2.0.6. Times Interest Earned Ratio
YEAR
AMOUNT (RM) Earnings Before
Interest
Interest & Taxes
CALCULATION (times) Earnings Before Interest & Taxes ÷ Interest
2015 2016
228,676,000
(54,579,000)
2017
292,436,000
71,402,000
2018
4.09
Times Interest Earned Ratio 4.5 4 3.5 3 2.5 2 1.5 1 0.5 0 2015
2016
2017
2018
Analysis: From 2015 to 2018, the above ratio shows decreasing trend. This ratio measures the company’s ability to make contractual interest payments. Based on trend, the company does not able to fulfill their interest obligations.
2.0.7. Return on Total Assets (ROA) YEAR
AMOUNT (RM) Earnings Available for
Total Assets
Common Stockholders
CALCULATION (%) Earnings Available for Common Stockholders ÷ Total Assets
2015 2016
228,676,000
2,239,023,000
0.10
2017
491,785,000
2,279,153,000
0.22
2018
Return on Total Assets 0.45 0.4 0.35 0.3 0.25 0.2 0.15 0.1 0.05 0 2015
2016
2017
2018
Analysis: From 2015 to 2018, the above ratio shows slightly decreasing trend. This ratio measures the overall effectiveness of management in generating profits with its available assets. Based on trend, this company is ability to get higher profits from its available assets if they changed their bussiness strategy.
2.0.8. Return on Common Equity (ROE)
YEAR
AMOUNT (RM)
CALCULATION (%)
Earnings Available for
Common
Earnings Available for Common
Common Stockholders
Stock Equity
Stockholders ÷ Common Stock Equity
2015 2016
607,348,000
607,348,000
100
2017
491,785,000
491,785,000
100
2018
Return on Common Equity 120
100
80
60
40
20
0 2015
2016
2017
2018
Analysis: From 2015 to 2016, the above ratio shows at 100%. This ratio measures the return earned on the common stockholder’s investment in the company. Based on trend, this company shows the ability to deliver high return to investors.
2.0.9. Price / Earnings (P/E) Ratio
YEAR
AMOUNT (RM)
CALCULATION (times)
Market Price Per Share
Earnings Per
Market Price Per Share of
of Common Stock
Share
Common Stock ÷ Earnings Per Share
2015
5.06
2016
5.88
33.46
0.18
2017
5.55
42.07
0.13
2018
4.60
Price / Earnings Ratio 0.14 0.12 0.1 0.08 0.06 0.04 0.02 0 2015
2016
2017
2018
Analysis: From 2015 to 2018, the above ratio shows slightly increasing trend. This ratio measures the amount that investors are willing to pay for each amount of a company’s earnings. Based on trend, the stock with a high P/E is generally expected to increase in value.
2.0.9.1 Market / book ratio YEAR
AMOUNT (RM) Market Price Per Share of Common Stock
CALCULATION (times)
Book value per
Market Price Per Share of
share of common Common Stock ÷ Book value per stock
share of common stock
2015
5.06
2016
5.88
5.07
1.16
2017
5.55
3.22
0.58
2018
4.60
Price / Earnings Ratio 0.7 0.6 0.5 0.4 0.3 0.2 0.1 0 2015
2016
2017
2018
Analysis: From 2015 to 2018, the above ratio shows slightly increasing trend. This ratio measures the amount that investors are willing to pay for each amount of a company’s earnings. Based on trend, the stock with a high P/E is generally expected to increase in value.
Summary of ratio analysis.
RATIO Current ratio Liquidity
(times) Quick ratio (times)
2015
2016
2017 3.17
3.17
2018
Inventory turnover (times) Activity
0
Average collection period
0.06
(days) Debt ratio (%) Debt
Times interest earned (times) Return on total assets (%)
Profitability
0.68 4.09
0.22
Return on common equity
100
(%) Price / earnings Market
ratio (times) Market / book ratio (times)
0.13
0.58
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