TDM just released their results yesterday. It was just fantastic, above my expectations. Net profit for the quarter was RM28.8 mil or EPS of 12.7 sen. Cumulative 9MFY2010 was RM61.6 mil or EPS of 27.3 sen. Given the current CPO price, net profit for the whole year could easily exceed RM90 mil or EPS of 41 sen. PER 2010 is going to be around 6x only, supported by net cash of RM122 mil or 55 sen per share. To me, TDM is still cheap to go in with attractive dividends of about 5%.
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