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QUESTION SHEET
J.S.P. PROPERTY (JSP) PUBLIC COMPANY LIMITED
Section 1: Calculation and Discussion (10 points)
1. Calculate JSP’s annual free cash flows (FCF) in 2019 and in 2018.
2. Discuss of the company’s financial performance in 6M/ XXXXXXXXXXmonths).
Specifically, discuss the company’s:
2.1 Liquidity position
2.2 Profitability
2.3 Asset utilization
2.4 Debt management
2.5 Market valuation
2.6 Performance using the DuPont framework
Section 2: Performance Analytics (10 points)
In this section, use your best educated-judgement to answer the following questions
and provide supported evidence to justify your answer.
Based on JSP’s business and financial performance in 6M/2020:
3. How well did the company manage its inventories? Explain.
4. Did JSP pay the suppliers on time? Explain.
5. Did JSP pay its creditors on time? Explain.
Section 3: Consulting Assignments (10 points)
In this section, use your educated analyses and research on the company’s business
and financial performance to answer the following questions.
6. List the three (3) most important business or financial problems that JSP might
have been encountering during the past 1-2 years.
7. If you are hired as a financial consultant, provide a set of possible solutions to
the above three (3) problems in Question 7.
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REFERENCE SHEET
JSP J.S.P. PROPERTY PUBLIC COMPANY LIMITED
Property & Construction
mai
CG Report:
Data as of 18 Sep 2020
Price (B.) 52 Week High/Low P/E (X) P/BV (X) Paid-up (MB.) Market Cap (MB.) EV (MB.) EBITDA (MB.) EV/EBITDA
XXXXXXXXXX / 0.17 N/A 0.19 2, XXXXXXXXXX, XXXXXXXXXX89
News
Date/Time Subject
10 Aug XXXXXXXXXX:30
Notification of the connected transaction-renew from
connected person
10 Aug XXXXXXXXXX:16 Financial Statement Quarter 2/2020 (Reviewed)
10 Aug XXXXXXXXXX:16 Financial Performance Quarter 2 (F45) (Reviewed)
10 Aug XXXXXXXXXX:16
Management Discussion and Analysis Quarter 2 Ending 30 Jun
2020
01 Jul XXXXXXXXXX:27 Change in CFO / Chief Accounting
more
Company Profile
Address
41/1 Soi Rama 2 Soi 54, Samae-Dam, Bang Khun Thian
Bangkok 10150
Telephone XXXXXXXXXX
Fax XXXXXXXXXX
URL www.jsp.co.th
Price
Performance
(Adjusted Price)
Compare to
Stock (%)
Compare to
Industry
(%)
Compare to
Market (%)
5 Days XXXXXXXXXX
20 Days XXXXXXXXXX
60 Days XXXXXXXXXX55
120 Days XXXXXXXXXX
YTD XXXXXXXXXX
P/E (X) N/A N/A 33.40
P/BV (X XXXXXXXXXX
Turnover Ratio (% XXXXXXXXXX
https:
www.set.or.th/set/companynews.do?symbol=JSP&ssoPageId=8&language=en&country=US
http:
www.jsp.co.th
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Annual Report 2018
Establish Date 13/10/2010 Listed Date 19/11/2014
IPO Price (Baht) 2.60 @Par0.50 Baht
IPO Financial Advisory
• CAPITAL NOMURA SECURITIES PUBLIC COMPANY LIMITED
• AEC SECURITIES PUBLIC COMPANY LIMITED
Par 0.50 Baht
Last Par Change N/A
Market/Industry/Sector Change
Effective Date 05/01/2015
Previous Market/Industry/Sector mai / MAI Industry / Medium-Sized Enterprise
Cu
ent Market/Industry/Sector mai / Property & Construction / Property & Construction
Business
Property development business, focus on commercial low-rise property. The Company
develops both residential and commercial property for sale
Free Float 03 Apr XXXXXXXXXXMar 2019
% /Shareholders 56.68% 6, XXXXXXXXXX% 6,759
Foreign Shareholders 0.03% (As of 18/09/2020) Foreign Limit 49.00%
NVDR Shareholders 0.53% (As of 18/09/2020)
Top 10 Major Shareholders(@03 Apr 2020) Share %
1. นาย LIKHIT LUESAKULKITPAISAL 823,648, XXXXXXXXXX
2. นาย บญุยง สวาทยานนท ์ 823,591, XXXXXXXXXX
3. MR. PONGSAK SAWATYANON 172,000, XXXXXXXXXX
4. นาย เกยีรตศิักดิ ์ไตรตรงึษ์ทัศนา 169,910, XXXXXXXXXX
Accumulated: Turnover Ratio, Value Trade/Day
Statistics
YTD
18 Sep 2020
2019
30 Dec 2019
2018
28 Dec 2018
Listed share (M.) 4, XXXXXXXXXX, XXXXXXXXXX,200.00
Market Cap (MB XXXXXXXXXX, XXXXXXXXXX,974.00
Price (B./share XXXXXXXXXX
http:
www.set.or.th/dat/annual/A1229E18.zip
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5. MR. YONGSIL RUNGCHIWA 137,687, XXXXXXXXXX
6. นาย พรีะ นีรพทิักษ์ 112,500, XXXXXXXXXX
7. MISS SUPPAWAN SAWATYANON 68,578, XXXXXXXXXX
8. MR. PIROON NEERAPITAK 64,500, XXXXXXXXXX
9. นาย สธุน สงิหสทิธางกรู 57,598, XXXXXXXXXX
10. นาย VICHAI THANASAMUTR 44,238, XXXXXXXXXX
Management Position
1. Mr. PORNCHAI CHUNHACHINDA
CHAIRMAN OF THE BOARD /
INDEPENDENT DIRECTOR
2. Mr. LIKHIT LUESAKULKITPAISAL
CHAIRMAN OF THE EXECUTIVE
COMMITTEE / CHIEF EXECUTIVE
OFFICER / DIRECTOR
3. Mr. PONGSAK SAWATYANON DIRECTOR
4. Mr. PUMIPAT SINACHAROEN DIRECTOR
5. Mr. VACHARIN DUANGDARA
INDEPENDENT DIRECTOR /
CHAIRMAN OF AUDIT COMMITTEE
6. Mr. EKACHIDD CHUNGCHAROEN
INDEPENDENT DIRECTOR / AUDIT
COMMITTEE
7. Mr. CHOKCHAI ITTIWIBUL AUDIT COMMITTEE
BVPS (B./Share XXXXXXXXXX
P/BV (X XXXXXXXXXX
P/E (X) N/A N/A 30.91
Turnover Ratio
(%)
XXXXXXXXXX
Value Trade/Day
(MB.)
XXXXXXXXXX
Beta XXXXXXXXXX
Rate of Return YTD XXXXXXXXXX
Price Change (% XXXXXXXXXX35.62
Dividend Yield (%) N/A XXXXXXXXXXN/A
Payout Ratio N/A N/A -
Dividend Policy
At least 40 percent of net profit for separate
financial statements after deducting income
tax and legal reserve and other reserve
funds as required by law (if any) (with
additional conditions)
Dividend
Operation
Period
Dividend/Share Unit
Payment
Date
Type
- 0.01 Baht 29 May 2019 Cash
Auditor
(Effective Until
31/12/2020)
MISS VIPAVAN PATTAVANVIVEK/KPMG PHOOMCHAI AUDIT LIMITED
Miss NAWARAT NITIKEATIPONG/KPMG PHOOMCHAI AUDIT LIMITED
MISS VILAIVAN PHOLPRASERT/KPMG PHOOMCHAI AUDIT LIMITED
F/S Year ended 31/12
Latest Type of Report Unqualified opinion with an emphasis of matters
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Financial Data
Statement of Financial Position (MB.)
6M/2020
(01/01/20
-30/06/20)
6M/2019
(01/01/19
-30/06/19)
2019
(01/01/19
-31/12/19)
2018
(01/01/18
-31/12/18)
2017
(01/01/17
-31/12/17)
Cash XXXXXXXXXX XXXXXXXXXX
A/R Net XXXXXXXXXX XXXXXXXXXX
Inventories 5, XXXXXXXXXX, XXXXXXXXXX, XXXXXXXXXX, XXXXXXXXXX,856.27
Cu
ent Assets 6, XXXXXXXXXX, XXXXXXXXXX, XXXXXXXXXX, XXXXXXXXXX,129.30
PP&E Net XXXXXXXXXX XXXXXXXXXX
Total Assets 8, XXXXXXXXXX, XXXXXXXXXX, XXXXXXXXXX, XXXXXXXXXX,695.48
OD XXXXXXXXXX.15
A/P Net XXXXXXXXXX76 1, XXXXXXXXXX,596.34
Cu
ent portion of LT 1, XXXXXXXXXX, XXXXXXXXXX, XXXXXXXXXX, XXXXXXXXXX,364.94
Cu
ent Liabilities 2, XXXXXXXXXX, XXXXXXXXXX, XXXXXXXXXX, XXXXXXXXXX,025.40
Non-Cu
ent Liabilities 1, XXXXXXXXXX XXXXXXXXXX,548.73
Total Liabilities 3, XXXXXXXXXX, XXXXXXXXXX, XXXXXXXXXX, XXXXXXXXXX,574.14
Authorized Capital 2, XXXXXXXXXX, XXXXXXXXXX, XXXXXXXXXX, XXXXXXXXXX,100.00
Paid-Up Capital 2, XXXXXXXXXX, XXXXXXXXXX, XXXXXXXXXX, XXXXXXXXXX,100.00
Premium (Discount) on Share Capital 2, XXXXXXXXXX, XXXXXXXXXX, XXXXXXXXXX, XXXXXXXXXX,438.83
Other Surplus (Deficit XXXXXXXXXX XXXXXXXXXX
Retained Earnings (Deficit XXXXXXXXXX XXXXXXXXXX
Treasury Stock - - - - -
Shareholders' Equity 4, XXXXXXXXXX, XXXXXXXXXX, XXXXXXXXXX, XXXXXXXXXX,104.88
Minority Interest XXXXXXXXXX
more
https:
www.set.or.th/set/companyfinance.do?type=balance&symbol=JSP&language=en&country=US
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Statement of Comprehensive Income (MB.)
6M/2020
(01/01/20
-30/06/20)
6M/2019
(01/01/19
-30/06/19)
2019
(01/01/19
-31/12/19)
2018
(01/01/18
-31/12/18)
2017
(01/01/17
-31/12/17)
Sales XXXXXXXXXX, XXXXXXXXXX, XXXXXXXXXX, XXXXXXXXXX,367.96
Other Income XXXXXXXXXX XXXXXXXXXX
Total Revenues XXXXXXXXXX, XXXXXXXXXX, XXXXXXXXXX, XXXXXXXXXX,521.87
COGs XXXXXXXXXX, XXXXXXXXXX, XXXXXXXXXX,298.56
SG&A XXXXXXXXXX XXXXXXXXXX
Total Expenses XXXXXXXXXX, XXXXXXXXXX, XXXXXXXXXX, XXXXXXXXXX,269.98
EBITDA XXXXXXXXXX XXXXXXXXXX
Depre. & Amor XXXXXXXXXX XXXXXXXXXX
EBIT XXXXXXXXXX XXXXXXXXXX
Net Profit XXXXXXXXXX XXXXXXXXXX
EPS (B XXXXXXXXXX XXXXXXXXXX
more
Statement of Cash Flow (MB.)
6M/2020
(01/01/20
-30/06/20)
6M/2019
(01/01/19
-30/06/19)
2019
(01/01/19
-31/12/19)
2018
(01/01/18
-31/12/18)
2017
(01/01/17
-31/12/17)
Operating Cash Flow XXXXXXXXXX XXXXXXXXXX
Investing Cash Flow XXXXXXXXXX XXXXXXXXXX
Financing Cash Flow XXXXXXXXXX XXXXXXXXXX, XXXXXXXXXX
Net Cash