logo transparent gif
top_white_spacer
Home Latest Stock Forum Topics MyCorner - Personal Stocks Porfolio Stock Lists Investor Insights Investor Research & Links Dynamic Stock Charting FREE Registration About Us top spacer top spacer
 User Password Auto-Login
Enter Stock
 
righttip
branding

Back
First   < Newer   1581-1600 of 1642   Older>   Last  
Latest Forum Topics / Chip Eng Seng  Post Reply
ChipEngS - Low PE, High Yield and High NAV in One
ozone2002
Supreme
03-Sep-2014 11:30     
 
ozone2002 About Contact  Quote this Post! Style: Technical  
  x 0
  x 0

 Alert Admin

buyback again

Name D.O.T. Buy /Sell No.of shares S$/shr

Chip Eng Seng Corporation Ltd 02-Sep-14 Share Buy-Back 1,525,000 0.8993
 Useful To Me  Not Useful To Me
ozone2002
Supreme
02-Sep-2014 11:12     
 
ozone2002 About Contact  Quote this Post! Style: Technical  
  x 0
  x 0

 Alert Admin

Company is scooping up its share cos of its undervaluedness.. gd luck dyodd

Name D.O.T. Buy /Sell No.of shares S$/shr

Chip Eng Seng Corporation Ltd 01-Sep-14 Share Buy-Back 1,700,000 0.8950

Chip Eng Seng Corporation Ltd 26-Aug-14 Share Buy-Back 680,000 0.8991

ozone2002      ( Date: 19-Jun-2014 10:03) Posted:



CES F14 PE only 2.7??? super value. no wonder thecompany keeps buying back its share.

 


CHIP ENG SENG -- Strong share buyback ahead of FY14 bumper earnings
Written by Leong Chan Teik
Thursday, 19 June 2014 06:30
 
 
 

CES_RaymondChiaChip Eng Seng Corp CEO Raymond Chia.
Photo: InternetCHIP ENG SENG Corporation is one company that has demonstrated its commitment to buying back its shares -- presumably the key reason being their undervaluation. 

The buying action has been taking place ahead of bumper earnings to be recorded this year as a result of the expected achievement of TOP of a number of property projects by Chip Eng Seng.

Just look at the number of treasury shares it holds currently -- 30.541 million. These were accumulated from end-2012.

Of late, the company' s share buy back has been striking: Since mid-May this year, it has made 5 transactions which were anything but small nibblings of the stock.

In those transactions, it bought back a total of 5.06 million shares in the price range of 74-76 cents a share.

In recent days, the stock has crept up, closing at 78 cents yesterday.

CES_nra5.14Chip Eng Seng had lots of cash on hand to fund its purchases: It had S$191.8 million cash as at end 1Q this year.

However, borrowings were significant too at $743.0 million.

These were taken to finance property development projects and investment properties, the purchase of leasehold land for hotel and commercial development and for working capital.

NRA Capital is forecasting strong cashflow this year with cash levels rising to $263 million and total borrowings falling to $567 million. (See NRA report here)

Not only that, the earnings per share this year is forecasted to hit 28 cents a share.

The dividend payout is expected by many investors to be even more generous than the 4 cents a share for FY13 although NRA Capital has not revised its 4-cent forecast.

NRA Capital pegs Chip Eng Seng' s fair value at $1.04 based on the sum of the parts methodology for its property development and construction businesses. 
 

 Useful To Me  Not Useful To Me


slownsteady
Member
18-Aug-2014 19:08     
 
slownsteady About Contact  Quote this Post!  
  x 0
  x 0

 Alert Admin

Closed at 87 today, still holding on  cheeky

Patience is required for this gem.

bishan22      ( Date: 26-Jun-2014 10:35) Posted:



81 seem hard to hold. Took some profit first @ 795. Good luck.  cheeky

slownsteady      ( Date: 19-Jun-2014 17:39) Posted:



Slowly and steadily climbing up. My kind of stock :D


 Useful To Me  Not Useful To Me
curiousparty
Member
22-Jul-2014 22:21     
 
curiousparty About Contact  Quote this Post!  
  x 0
  x 0

 Alert Admin

Chip Seng Seng is very undervalued. The Alexandra Central project alone is likely to increase its NAV by at least 60 cents. Management bought back millions of shares at 0.74 to 0.76 cents. Current Market price is 0.805. Hence, Market Cap works out to be $516mil.

Did anyone estimate the obscene profit CES will reflect in its book in the coming few quarters? I did some rough calculation using just one of its projects, Alexandra Central. It seems that just one major project can already create enough NAV to cover its current market cap.

 

a. 450 hotel rooms x $1mil per key = $450 mil (Valuation)
b. Commercial retail space = 90,000sqf x $5233 (source: property guru)PSF x 80% (efficiency ratio) = $377mil (REVENUE)
c. Total cost of investment = $320mil (land, construction, etc)

(land cost = $189mil. The construction contract was awarded to Keong Hong for $101mil).

[$350mil might have been " overstated" at company' s website]

Shareholder value from this single project alone ~ $507mil , which is close to its current market cap (yet to be recognized in its books), based on very conservative assumptions!

And this is just one project and there are many others (Nine residence/Junction 9, progressively recognized, etc).
Its construction business will earn about EPS 5 cents per annum.

The current NTA of around 80 cents seem to be grossly understated. Given that company was buying furiously at 75.5 cents on average, it could not be just for a meager 10-20% gain (IMHO). In fact, company is sending a very clear and strong signal to its loyal shareholders.

The total intrinsic value by end of FY2015 would probably in the region of $1.60~$1.80

(very conservative, excluding TM and other pipe projects such as the Malacca retail/hotel, Fulcrum, Doncaster project in Melbourne)

 
 Useful To Me  Not Useful To Me
bishan22
Supreme
26-Jun-2014 10:35     
 
bishan22 About Contact  Quote this Post!  
  x 0
  x 0

 Alert Admin

81 seem hard to hold. Took some profit first @ 795. Good luck.  cheeky

slownsteady      ( Date: 19-Jun-2014 17:39) Posted:



Slowly and steadily climbing up. My kind of stock :D

bishan22      ( Date: 19-Jun-2014 12:31) Posted:

Inching up since the xd. Lucky scoop more after cd. Put under pillow and sleep till it burst. Haha
 Useful To Me  Not Useful To Me


slownsteady
Member
20-Jun-2014 12:24     
 
slownsteady About Contact  Quote this Post!  
  x 0
  x 0

 Alert Admin

Some good news from property sales:

Sales figures for Nine Residences

May: 4 units
Apr: 4 units
Mar: 5 units
Feb: 3 units
Jan: 6 units

Brings the units sold to 141 of 186 total units.
At this rate should be on course for 100% sold by TOP (2015), just like most of the other CES projects.

In addition, CES managed to sell two units at 100PP for 2,287,000 and 2,512,000 - an extra 5 million of cash flow as the project has already achieved TOP. Guess that' s where the cash for share buyback is coming from.
 Useful To Me  Not Useful To Me
bishan22
Supreme
20-Jun-2014 09:10     
 
bishan22 About Contact  Quote this Post!  
  x 0
  x 0

 Alert Admin

Today change figure 7 to 8. Hosay liao.  yes
 Useful To Me  Not Useful To Me
slownsteady
Member
19-Jun-2014 17:39     
 
slownsteady About Contact  Quote this Post!  
  x 0
  x 0

 Alert Admin

Slowly and steadily climbing up. My kind of stock :D

bishan22      ( Date: 19-Jun-2014 12:31) Posted:

Inching up since the xd. Lucky scoop more after cd. Put under pillow and sleep till it burst. Haha.

ozone2002      ( Date: 19-Jun-2014 10:03) Posted:



CES F14 PE only 2.7??? super value. no wonder thecompany keeps buying back its share.

 


CHIP ENG SENG -- Strong share buyback ahead of FY14 bumper earnings
Written by Leong Chan Teik
Thursday, 19 June 2014 06:30
 
 
 

CES_RaymondChiaChip Eng Seng Corp CEO Raymond Chia.
Photo: InternetCHIP ENG SENG Corporation is one company that has demonstrated its commitment to buying back its shares -- presumably the key reason being their undervaluation. 

The buying action has been taking place ahead of bumper earnings to be recorded this year as a result of the expected achievement of TOP of a number of property projects by Chip Eng Seng.

Just look at the number of treasury shares it holds currently -- 30.541 million. These were accumulated from end-2012.

Of late, the company' s share buy back has been striking: Since mid-May this year, it has made 5 transactions which were anything but small nibblings of the stock.

In those transactions, it bought back a total of 5.06 million shares in the price range of 74-76 cents a share.

In recent days, the stock has crept up, closing at 78 cents yesterday.

CES_nra5.14Chip Eng Seng had lots of cash on hand to fund its purchases: It had S$191.8 million cash as at end 1Q this year.

However, borrowings were significant too at $743.0 million.

These were taken to finance property development projects and investment properties, the purchase of leasehold land for hotel and commercial development and for working capital.

NRA Capital is forecasting strong cashflow this year with cash levels rising to $263 million and total borrowings falling to $567 million. (See NRA report here)

Not only that, the earnings per share this year is forecasted to hit 28 cents a share.

The dividend payout is expected by many investors to be even more generous than the 4 cents a share for FY13 although NRA Capital has not revised its 4-cent forecast.

NRA Capital pegs Chip Eng Seng' s fair value at $1.04 based on the sum of the parts methodology for its property development and construction businesses. 
 


 Useful To Me  Not Useful To Me


bishan22
Supreme
19-Jun-2014 12:31     
 
bishan22 About Contact  Quote this Post!  
  x 0
  x 0

 Alert Admin 		Inching up since the xd. Lucky scoop more after cd. Put under pillow and sleep till it burst. Haha.

ozone2002      ( Date: 19-Jun-2014 10:03) Posted:



CES F14 PE only 2.7??? super value. no wonder thecompany keeps buying back its share.

 


CHIP ENG SENG -- Strong share buyback ahead of FY14 bumper earnings
Written by Leong Chan Teik
Thursday, 19 June 2014 06:30
 
 
 

CES_RaymondChiaChip Eng Seng Corp CEO Raymond Chia.
Photo: InternetCHIP ENG SENG Corporation is one company that has demonstrated its commitment to buying back its shares -- presumably the key reason being their undervaluation. 

The buying action has been taking place ahead of bumper earnings to be recorded this year as a result of the expected achievement of TOP of a number of property projects by Chip Eng Seng.

Just look at the number of treasury shares it holds currently -- 30.541 million. These were accumulated from end-2012.

Of late, the company' s share buy back has been striking: Since mid-May this year, it has made 5 transactions which were anything but small nibblings of the stock.

In those transactions, it bought back a total of 5.06 million shares in the price range of 74-76 cents a share.

In recent days, the stock has crept up, closing at 78 cents yesterday.

CES_nra5.14Chip Eng Seng had lots of cash on hand to fund its purchases: It had S$191.8 million cash as at end 1Q this year.

However, borrowings were significant too at $743.0 million.

These were taken to finance property development projects and investment properties, the purchase of leasehold land for hotel and commercial development and for working capital.

NRA Capital is forecasting strong cashflow this year with cash levels rising to $263 million and total borrowings falling to $567 million. (See NRA report here)

Not only that, the earnings per share this year is forecasted to hit 28 cents a share.

The dividend payout is expected by many investors to be even more generous than the 4 cents a share for FY13 although NRA Capital has not revised its 4-cent forecast.

NRA Capital pegs Chip Eng Seng' s fair value at $1.04 based on the sum of the parts methodology for its property development and construction businesses. 
 

 Useful To Me  Not Useful To Me
ozone2002
Supreme
19-Jun-2014 10:03     
 
ozone2002 About Contact  Quote this Post! Style: Technical  
  x 0
  x 0

 Alert Admin

CES F14 PE only 2.7??? super value. no wonder thecompany keeps buying back its share.

 


CHIP ENG SENG -- Strong share buyback ahead of FY14 bumper earnings
Written by Leong Chan Teik
Thursday, 19 June 2014 06:30
 
 
 

CES_RaymondChiaChip Eng Seng Corp CEO Raymond Chia.
Photo: InternetCHIP ENG SENG Corporation is one company that has demonstrated its commitment to buying back its shares -- presumably the key reason being their undervaluation. 

The buying action has been taking place ahead of bumper earnings to be recorded this year as a result of the expected achievement of TOP of a number of property projects by Chip Eng Seng.

Just look at the number of treasury shares it holds currently -- 30.541 million. These were accumulated from end-2012.

Of late, the company' s share buy back has been striking: Since mid-May this year, it has made 5 transactions which were anything but small nibblings of the stock.

In those transactions, it bought back a total of 5.06 million shares in the price range of 74-76 cents a share.

In recent days, the stock has crept up, closing at 78 cents yesterday.

CES_nra5.14Chip Eng Seng had lots of cash on hand to fund its purchases: It had S$191.8 million cash as at end 1Q this year.

However, borrowings were significant too at $743.0 million.

These were taken to finance property development projects and investment properties, the purchase of leasehold land for hotel and commercial development and for working capital.

NRA Capital is forecasting strong cashflow this year with cash levels rising to $263 million and total borrowings falling to $567 million. (See NRA report here)

Not only that, the earnings per share this year is forecasted to hit 28 cents a share.

The dividend payout is expected by many investors to be even more generous than the 4 cents a share for FY13 although NRA Capital has not revised its 4-cent forecast.

NRA Capital pegs Chip Eng Seng' s fair value at $1.04 based on the sum of the parts methodology for its property development and construction businesses. 
 
 Useful To Me  Not Useful To Me
slownsteady
Member
19-May-2014 23:07     
 
slownsteady About Contact  Quote this Post!  
  x 0
  x 0

 Alert Admin

Seems like there' s news filtering in that Tower Melbourne is starting up again:

http://celaustralia.com.au/

LATEST NEWS

  • 19 May 2014
    TOWER MELBOURNE STATUS
    CEL Australia would like to inform that while demolition work has been delayed, we are moving toward a resolution and recommencement of works on site. We look forward to seeing this spectacular project rise into Melbourne' s skyline and advise that the expected date for completion is early 2018.
 Useful To Me  Not Useful To Me
victortan
Elite
27-Apr-2014 17:10     
 
victortan About Contact  Quote this Post!  
  x 0
  x 0

 Alert Admin

another one to look out for is first resource, this one is a gem amongst the oil palm counter, u see the FA,outstanding.

And ui think 3.5 mid term is not ridiculouss, and 4.5 long tg is also possible.

takemenow      ( Date: 27-Apr-2014 15:37) Posted:

Friday, 25 April 2014 12:00
 
 
 
Excerpts from analysts' reports

NRA Capital pegs Chip Eng Seng' s fair value at $1.04
 
We re-initiate coverage with an Overweight recommendation and a S$1.04 fair value, based on SOTP of its property development and construction business. We value its construction business at 6x FY14 PER, in line with its peers in the construction sector. 

Meanwhile, we apply a 30% discount to RNAV (property development, property investments and hotel).
 
Furthermore, it has consistently paid out 4 Singapore cents dividend over the last four years, this implies an attractive 5.3% dividend yield at current prices.
 
 Record revenues to be recognised this year.  As per IFRS 115, the group will recognise revenues and related costs upon TOP for 3 projects in FY14.
 
They include Alexandra Central, Belvia, and 100 Pasir Panjang and which we estimate would contribute around 65% of the record S$1.3b revenues in FY14. It will also fully recognise 40% of profits from Belysa.

CES_nra4.14
 Riding on firm Australian property demand. It successfully launched its first property in Australia back in 2012 with the 33M at 33 Mackenzie Street, Melbourne and is currently developing Melbourne&rsquo s tallest CBD residential building &ndash the Tower Melbourne. The 71 floors Tower Melbourne was 99% sold as at the end of 4Q13. The group is expected to launch another new development project in Doncaster, Australia this year.
 
 Hotel business to provide recurring revenues. Its hotel at Alexandra Central is expected to be completed in mid-15 and will begin to provide a steady recurring revenue stream to the group from 2H15 onwards. 
 
Although we estimate it will provide only around 5-10% of total group revenues in our forecast period, we believe it is a milestone for the group&rsquo s effort to diversify into the hospitality sector.
 
 Construction business still healthy. Its construction business remains a stable business with a healthy order book of S$520m as at end 4Q13.

Although order book is slightly lower than the S$575m as at end 4Q12, the group should benefit from the S$5.2bn-S$5.5bn building works estimated for 2014 by the Building and Construction Authority of Singapore (BCA). In the medium to long term, as the supply-demand balance stabilises, the government is expected to moderate its building program but remains committed to providing 700,000 new homes by 2030. This should still continue to benefit Chip Eng Seng.

 Useful To Me  Not Useful To Me


victortan
Elite
27-Apr-2014 17:08     
 
victortan About Contact  Quote this Post!  
  x 0
  x 0

 Alert Admin

very close to my tg px 103 too. LOL

victortan      ( Date: 15-Apr-2014 22:48) Posted:



I think this one is better tna Lian Beng FA wise, but makret decide, we react. This one shd be 103 at least. But that not for me to say. The market decide. I play along. hahaha

bishan22      ( Date: 15-Apr-2014 20:22) Posted:



Very soon can see the figure 8. Not forgetting to collect 0.04 cents too. Hehehe.


 Useful To Me  Not Useful To Me
takemenow
Member
27-Apr-2014 15:37     
 
takemenow About Contact  Quote this Post!  
  x 0
  x 0

 Alert Admin
Friday, 25 April 2014 12:00
 
 
 
Excerpts from analysts' reports

NRA Capital pegs Chip Eng Seng' s fair value at $1.04
 
We re-initiate coverage with an Overweight recommendation and a S$1.04 fair value, based on SOTP of its property development and construction business. We value its construction business at 6x FY14 PER, in line with its peers in the construction sector. 

Meanwhile, we apply a 30% discount to RNAV (property development, property investments and hotel).
 
Furthermore, it has consistently paid out 4 Singapore cents dividend over the last four years, this implies an attractive 5.3% dividend yield at current prices.
 
 Record revenues to be recognised this year.  As per IFRS 115, the group will recognise revenues and related costs upon TOP for 3 projects in FY14.
 
They include Alexandra Central, Belvia, and 100 Pasir Panjang and which we estimate would contribute around 65% of the record S$1.3b revenues in FY14. It will also fully recognise 40% of profits from Belysa.

CES_nra4.14
 Riding on firm Australian property demand. It successfully launched its first property in Australia back in 2012 with the 33M at 33 Mackenzie Street, Melbourne and is currently developing Melbourne&rsquo s tallest CBD residential building &ndash the Tower Melbourne. The 71 floors Tower Melbourne was 99% sold as at the end of 4Q13. The group is expected to launch another new development project in Doncaster, Australia this year.
 
 Hotel business to provide recurring revenues. Its hotel at Alexandra Central is expected to be completed in mid-15 and will begin to provide a steady recurring revenue stream to the group from 2H15 onwards. 
 
Although we estimate it will provide only around 5-10% of total group revenues in our forecast period, we believe it is a milestone for the group&rsquo s effort to diversify into the hospitality sector.
 
 Construction business still healthy. Its construction business remains a stable business with a healthy order book of S$520m as at end 4Q13.

Although order book is slightly lower than the S$575m as at end 4Q12, the group should benefit from the S$5.2bn-S$5.5bn building works estimated for 2014 by the Building and Construction Authority of Singapore (BCA). In the medium to long term, as the supply-demand balance stabilises, the government is expected to moderate its building program but remains committed to providing 700,000 new homes by 2030. This should still continue to benefit Chip Eng Seng.
 Useful To Me  Not Useful To Me
takemenow
Member
25-Apr-2014 14:47     
 
takemenow About Contact  Quote this Post!  
  x 0
  x 0

 Alert Admin

Chip Eng Seng: Purchase Of Leasehold Land In Malacca, For RM19 Mio

25 Apr 2014 10:14

The 2 pieces of leasehold land in Malacca City has a total land area of 4,120 square metres and Chip Eng Seng Corporation Ltd intends to develop it into a mixed use high rise development comprises hotel, retail and serviced apartments. The Site is strategically located within the commercial area of Melaka Raya and is along the coastal road of Jalan Syed Ab. Aziz. It is also within walking distance to Mahkota Medical Centre and Mahkota Parade. The purchase price is RM19,000,000.00...

 
 Useful To Me  Not Useful To Me
reliever
Senior
21-Apr-2014 22:22     
 
reliever About Contact  Quote this Post!  
  x 1
  x 0

 Alert Admin

This one worth a look and consistently giving good dividend. Probably next in play.

 
 Useful To Me  Not Useful To Me
victortan
Elite
15-Apr-2014 22:48     
 
victortan About Contact  Quote this Post!  
  x 0
  x 0

 Alert Admin

I think this one is better tna Lian Beng FA wise, but makret decide, we react. This one shd be 103 at least. But that not for me to say. The market decide. I play along. hahaha

bishan22      ( Date: 15-Apr-2014 20:22) Posted:



Very soon can see the figure 8. Not forgetting to collect 0.04 cents too. Hehehe.

 Useful To Me  Not Useful To Me
bishan22
Supreme
15-Apr-2014 20:22     
 
bishan22 About Contact  Quote this Post!  
  x 0
  x 0

 Alert Admin

Very soon can see the figure 8. Not forgetting to collect 0.04 cents too. Hehehe.
 Useful To Me  Not Useful To Me
victortan
Elite
09-Apr-2014 21:07     
 
victortan About Contact  Quote this Post!  
  x 0
  x 0

 Alert Admin

This one got 40c cash per shr, i think shd be worth at least  a dollar. Not vested, No liquidity , but nver rule out invester interest may make stock soar. It has gd consistent div payout over several yr.
 Useful To Me  Not Useful To Me
teddytan438
Senior
09-Apr-2014 20:38     
 
teddytan438 About Contact  Quote this Post!  
  x 0
  x 0

 Alert Admin

back in plays
 Useful To Me  Not Useful To Me
                                                         First   < Newer   1581-1600 of 1642   Older>   Last  



ShareJunction Version: 27 Nov 2020 ver- All Rights Reserved. Copyright ShareJunction Pte. Ltd. Disclaimer: All prices from are delayed. ShareJunction does not provide you with any financial advice. We are not into the business of providing any investment advice. See our Terms and Conditions and Privacy Policy of using this website. Data is delayed for varying periods of time depending on the exchange, but for at least 15 minutes. Copyright © SIX Financial Information Ltd. and its licensors. All Rights reserved. Further distribution and use by third parties prohibited. SIX Financial Information and its licensors make no warranty for information displayed and accept no liability for data and prices. SIX Financial Information reserves the right to adapt and/or alter this website at any time without prior notice.

Web design by FoundationFlux. Hosted with Signetique Cloud.