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ChipEngS - Low PE, High Yield and High NAV in One
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tangsookiam1947
Master |
24-May-2015 00:37
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But the profit margin for HDB project is rather low. If I am not wrong, most of CES profits were from development projects and not HDB projects. |
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Blackwolf
Member |
23-May-2015 13:36
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Believe shares buy back will resume when the hdb contract secured. | ||||
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tohchinhwee
Senior |
23-May-2015 13:36
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Looks like it broke the double top formation. The breaks indicate a target of of around 72cents |
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Jimmykohkk
Master |
23-May-2015 13:07
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But got one catalyst.. for those thinking of shorting, beware. Once they annouce they find a new CEO, share price will spike and the level of spike will depend on who the new CEO is. So maybe can buy IF it falls below 75 cents and keep and wait for the annoucement of the new CEO..
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tangsookiam1947
Master |
23-May-2015 13:00
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i think CES might drop to 70 to 75 cents. Very strong likelihood. Company is unlikely to do share buyback. Need to conserve cash to run hotel. Am I right?? |
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victortan
Elite |
22-May-2015 20:35
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CES, could see 76c, wait a while first to buy later. I dont means this counter lousy, but nw the sentriment is bad for this one. so good to avoid for now. |
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Jimmykohkk
Master |
22-May-2015 10:53
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Go for Lian Beng instead :) " more meat" UOB Kay Hian initiated this morning with a TP of $0.725. MONEY TALK LIAN BENG GROUP LTD (LBG SP) Undervalued Stock With A Rising Recurring Income We initiate coverage on Lian Beng with a BUY and SOTP target price of S$0.725, representing a 39.4% upside. Lian Beng has nearly S$90m of unrecognised development profits that will be progressively recognised from FY15-18, setting the profit base as its recurring income grows. We forecast Lian Beng& rsquo s core profit to grow at FY14-17 CAGR of 8.3%, driven primarily by highly recurring rental income from investment properties such as the Jalan Papan workers& rsquo dormitory. Excluding development profits, Lian Beng is currently trading at 7.8x core FY15F PE that is set to compress to only 6.1x FY17F PE. Of note, 40% of core profit will be derived from highly recurring rental income by FY17F deeming current valuations too attractive to ignore. INVESTMENT HIGHLIGHTS Initiate coverage with a BUY and SOTP target price of S$0.725. With a FY16F dividend yield of 4.7%, a growing recurring income primarily driven by rental from investment properties and nearly S$90m of development profits yet to be recognised, we believe Lian Beng offers good value at current price levels. Lian Beng is currently trading at 35% discount to its net asset value of S$0.806 (where 55% of its assets are in the form of cash, investment securities and properties) Bulging property development portfolio with locked in sales. Currently, Lian Beng has stakes in 10 property development and investment projects, with nearly S$90m of development profit that will be progressively recognised from FY15-18. With the exception of Floraville and Hexacube, most of the development projects have locked in sales of more than 78%. (Profit from the Floraville and Hexacube projects represents only 7% of the development profit yet to be recognised.) Building its recurring income and strong cash flow. We estimate income from the supply of RMC, leasing of equipment and investment properties may grow from S$13m in FY15 to S$25m in FY17-18, driven primarily by high recurring rental income as various investment properties (eg workers& rsquo dormitory at Jalan Papan) come on stream. Rental income from investment properties is estimated to form 40% of core profit by FY17-18. We have not factored in contribution from the supply of asphalt and as such, this may also provide further upside to our earnings forecasts. Deep potential value waiting to be unlocked. We note management has tried to spin off its construction-related businesses (leasing of equipment, supply of RMC) in 2011. While the plan was abandoned due to unfavourable market conditions, we believe there is potential value waiting to be unlocked from the construction-related segment and this may be a potential price catalyst. We also do not dismiss the possibility of Lian Beng monetising some of its investment properties if the price is right, such as in the case of its hotel investment at Middle Road. Consistent dividend payout. Lian Beng paid out 9-18% of its earnings as dividends in the last four financial years. For FY16, we expect Lian Beng to pay a dividend of S$0.024/share, based on a 15% payout ratio, translating into a dividend yield of 4.7%. Share price may also be supported if Lian Beng resumes its share buyback programme. In Oct-Dec 14, Lian Beng repurchased 19.6m shares (about 3.7% of total outstanding shares) at S$0.60-0.68/share.
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tangsookiam1947
Master |
22-May-2015 10:44
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if no more meat left, then no point buying, despite the deep discount compared to year end projected NAV?? |
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Jimmykohkk
Master |
21-May-2015 18:35
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thanks for ur sharing.. I' m not a TA man, I only buy on situational conditions and fundamental. CES i dun know much but if u ask me which to choose Lian Beng or CES, I go for Lian Beng becos there are still actions for Lian Beng since most of their properties TOP in 2016 to 2018, but from the few comments about CES I read, it seems that most of CES properties had or are going to TOP liao, so no more meat left..(if what i read from this forum about CES is accurate)
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victortan
Elite |
21-May-2015 18:27
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I hv bought some Lian Beng, but this one I see 76c. my own lousy TA lah.. just to shr, no sure thing.
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victortan
Elite |
21-May-2015 18:26
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i hope u dont mind. But this is CES, not LHN. low got get lower. I dont means to pour cold water. Just be careful. |
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Qanghoo
Supreme |
21-May-2015 17:47
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Think u' re right.
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Jimmykohkk
Master |
21-May-2015 17:44
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sometimes want to buy ga ga 敢 敢 buy.. :) I think CES at 80 cents shd be quite low liao.. U see Yuuzoo and LHN.. wasted.. especially LHN, many including me wanted to buy at around 11.5 cents, just one more day of drop from 13.1 cents to 11.5 cents, many would have bought LHN liao and many will huat big sia.. BUT wasted, all waiting for 11.5 cents then suddenly U turn from 13.1 cents and shoot up to 19 cents.
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Qanghoo
Supreme |
21-May-2015 17:35
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If got 75c maybe I bite a bit. Based on latest results, PE abt 2 based on end 2015 PE maybe abt 3 or 4.
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Jimmykohkk
Master |
21-May-2015 16:47
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When u suddenly see ppl start saying bad things or there is a lot of fear, it probably means the share price is near low liao :) When u suddenly see ppl start shouting " huat har. chiong to $2" etc.. it probably means the share price is near high liao. As can be seen from Yuuzoo :) a good case study
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Qanghoo
Supreme |
21-May-2015 16:44
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Let it drop to 60c for all we care. Then a lot of people hoot all the way.
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tangsookiam1947
Master |
21-May-2015 15:28
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Can someone help to answer this question?? " Can CES maintain its current dividend payment of 4 cents? If not, it might drop even further!!!" |
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bishan22
Supreme |
21-May-2015 15:15
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Breaking liao......
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Qanghoo
Supreme |
21-May-2015 09:17
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Thx, brother.
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victortan
Elite |
21-May-2015 09:13
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Qangho do take a look at Libra, too, i think they are gg to do well gg forward, Just keep it on yr radar. U pls read it bal sht. |
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