SAPIND 3Q2010 Result

Sapura Industrial Berhad has just released its 3Q2010 result, the summary is as below:

3Q2010:
Revenue RM67.60m (up 28.8% y-o-y, drop 14.1% q-o-q)
Net Income RM2.53m (up 43.9% y-o-y, drop 60.8% q-o-q)

YTD9M:
Revenue RM219.99m (up 40.7% y-o-y)
Net Income RM13.64m (up 376.5% y-o-y)

Dividend of 14 sen is announced.

My view:
The 14 sen dividend is a surprise, but the share has gone up 8 sen to RM1.07 today. Currently trading at 9.9x historical PER. Assume 4Q2010 same as 3Q2010, then FY2010 EPS = 22.22sen. Currently trading at future PER 2010 of 4.82x, the stock looks attractive...
Depending on how many times PER you think SAPIND is worth, I have put in the scenario of 6x and 7x:

If 6x: Market may price it at RM1.33
If 7x: Market may price it at RM1.55