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Biz Times june 26..Valuetronics to expand Post Reply Rate topic
HVRRVH Elite	01-Jul-2014 16:08        HVRRVH About Contact  Quote this Post!
x 1   x 0  Alert Admin	Gained 3 cents. Maybe worth taking a look....
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ericlau123 Member	25-Jun-2014 10:57        ericlau123 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Buy 1 lot only $430 now, then  u will get dividend $32/- dollar, see how worth is that. Put another 1 month will do, expiry date: 29/07/2014.  Today already get  discount since it costs $0.445 yesterday.
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ericlau123 Member	24-Jun-2014 15:37        ericlau123 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Haha, useless u keep to watch the chart. It depends to the volume of buyer. If investor still confident to the share, the share still will go uptrend. I know your purpose la, u plan buy the share at discount price right?
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tea444u Elite	24-Jun-2014 14:49        tea444u About Contact  Quote this Post!   Mood:
x 0   x 0  Alert Admin	haiyo tio boh??? you see chart ah? thanks.... ericlau123      ( Date: 24-Jun-2014 13:25) Posted: Haha. No worries. Everyone know how to analyze n calculate  what is the best to them. Miss Elite, come n join us take this uptrend train.
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ericlau123 Member	24-Jun-2014 13:25        ericlau123 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Haha. No worries. Everyone know how to analyze n calculate  what is the best to them. Miss Elite, come n join us take this uptrend train.
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tea444u Elite	24-Jun-2014 13:15        tea444u About Contact  Quote this Post!   Mood:
x 0   x 0  Alert Admin	no use lah you highlight this now. drop liaw. ericlau123      ( Date: 24-Jun-2014 11:48) Posted: Philip securities upgrade their target price from $0.43 to $0.605.  Dividend confirmed HK dollar $0.2 equal to $0.032. Yield 7.23%.
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ericlau123 Member	24-Jun-2014 11:48        ericlau123 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Philip securities upgrade their target price from $0.43 to $0.605.  Dividend confirmed HK dollar $0.2 equal to $0.032. Yield 7.23%.
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ericlau123 Member	24-Jun-2014 11:11        ericlau123 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Good dividend yield share, 7.23%. Even put in bank (fixed deposit) only got 1% pa. Good fundamental analyze, earning per share (eps)  keep grow every quarter, plus the profit also keep increasing.  I believe it will create other new  high, because it  is only the one share with the dividend more than 5% in July n August.  Yield 7.23%!
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Woods30 Veteran	20-Jun-2014 21:05        Woods30 About Contact  Quote this Post!
x 0   x 0  Alert Admin	good read. kyrie100      ( Date: 20-Jun-2014 15:30) Posted: Valuetronics Holding Ltd. Still too much value. Easily worth 60 cents on earnings outperformance and excess cash. SG | MANUFACTURING | ELECTRONICS | FY14 UPDATE Rating: Buy (Upgraded from &ldquo Trading Buy&rdquo )  Adj. continuing full year FY2013/2014 revenue increased +10.1% y-y to HK$2,433.3M gross profit increased +20.9% to HK$326.8M and net profit rose +24.9% y-y on the back of a robust Q4, exceeding net income expectations by 6%.  Without adjustment, including discontinued operations, FY2014 was up 88%.  Operating activities generated strong cash flow of HK$303M, with $478M net cash on hand.  The higher gross profit and net margin is due to a favorable change in product sales mix and significant growth in the Industrial and Commercial segment, which has now steadily risen in revenue for 5 straights quarters.  ICE segment reported record revenues with a widened customer base, as they continue to benefit from the outsourcing trend in manufacturing.  CE segment reported credible single digit revenue growth as a result of new products from existing customers, greater operational efficiency and supply chain productivity.  Valuetronics announced a dividend policy of at least a 30% to 50% of net profit in any financial year, and proposed a final dividend of 16HK cents per share and special dividend of 4 HK cents per share. At yesterday' s closing price of S$0.405, that implies a dividend yield of roughly 8.0%.  Upgrade to &ldquo Buy&rdquo rating with a revised TP of $0.605 after dividend payout. Valuetronics reported their Q4/FY14 results on 28 May 2014.   Investment Merits  Valuetronics is still trading at an attractive price with net cash accounting for 52% of market cap, a conservatively estimated idle cash of ~30% of market cap, with PE of 6.2x and PE ex idle cash of 4.3x.  Forecasted FY15 net earnings growth rate of low-mid single digit is achievable, especially given good earnings momentum from the strength of 4Q14 earnings which is usually seasonally weaker.  A generous and likely sustainable dividend yield of 8% due to large cash reservoir and cheap valuations provides compensation for stock price volatility.  Valuetronics is a compelling buy due to the above investment merits, coupled with Valuetronics better than average performance vs peers. Investment Action Considering most of their peers also have forecasted growth of single digits, we believe Valuetronics cannot trade less than the peer average PE of 7.9x given that Valuetronics has 1) operated on better net margins of > 5% vs the typical 3%, 2) have never turned in a loss making year even from before IPO, 3) has an ROE of 22% vs peer average of 10%, 4) and has done so without leverage (having a net cash ratio to market cap of ~50%) - making its ROE performance even more impressive. An estimated FY15 net earnings of HK$150.2M implies an FY15 PE of 6.2x at last traded price of S$0.405. Valuating Valuetronics at an undemanding 8.0x (slightly higher than peer average) implies a value of S$0.53 on earnings alone. Adding S$0.125 per share of idle cash gives us S$0.655. This is conservative considering we are only taking 60% of net cash into our value consideration, and the global GDP recovery, favorable LED lighting cycle and encouraging earnings momentum into FY15 (better seasonal Q4) should provide a tailwind buffer. Adjusting for potential dilution, assuming that all in-the-money outstanding stock options are exercised, leads us to a conservative fair price of SG$0.637 (before dividend) which is S$0.605 excluding the 3.2 SG cent dividend payout. This represents a total upside, including dividends, of 57% from the last traded price of S$0.405.
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Woods30 Veteran	20-Jun-2014 16:27        Woods30 About Contact  Quote this Post!
x 0   x 0  Alert Admin	No debt company.Generous dividend policy.Take note.Coming dividend payout - HK 20 CENTS-roughly 3.3 Sing cents?  Woods30      ( Date: 20-Jun-2014 16:24) Posted: THIS one has been too low for too long...Take note.
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Woods30 Veteran	20-Jun-2014 16:24        Woods30 About Contact  Quote this Post!
x 0   x 0  Alert Admin	THIS one has been too low for too long...Take note.
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kyrie100 Member	20-Jun-2014 15:30        kyrie100 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Valuetronics Holding Ltd. Still too much value. Easily worth 60 cents on earnings outperformance and excess cash. SG | MANUFACTURING | ELECTRONICS | FY14 UPDATE Rating: Buy (Upgraded from &ldquo Trading Buy&rdquo )  Adj. continuing full year FY2013/2014 revenue increased +10.1% y-y to HK$2,433.3M gross profit increased +20.9% to HK$326.8M and net profit rose +24.9% y-y on the back of a robust Q4, exceeding net income expectations by 6%.  Without adjustment, including discontinued operations, FY2014 was up 88%.  Operating activities generated strong cash flow of HK$303M, with $478M net cash on hand.  The higher gross profit and net margin is due to a favorable change in product sales mix and significant growth in the Industrial and Commercial segment, which has now steadily risen in revenue for 5 straights quarters.  ICE segment reported record revenues with a widened customer base, as they continue to benefit from the outsourcing trend in manufacturing.  CE segment reported credible single digit revenue growth as a result of new products from existing customers, greater operational efficiency and supply chain productivity.  Valuetronics announced a dividend policy of at least a 30% to 50% of net profit in any financial year, and proposed a final dividend of 16HK cents per share and special dividend of 4 HK cents per share. At yesterday' s closing price of S$0.405, that implies a dividend yield of roughly 8.0%.  Upgrade to &ldquo Buy&rdquo rating with a revised TP of $0.605 after dividend payout. Valuetronics reported their Q4/FY14 results on 28 May 2014.   Investment Merits  Valuetronics is still trading at an attractive price with net cash accounting for 52% of market cap, a conservatively estimated idle cash of ~30% of market cap, with PE of 6.2x and PE ex idle cash of 4.3x.  Forecasted FY15 net earnings growth rate of low-mid single digit is achievable, especially given good earnings momentum from the strength of 4Q14 earnings which is usually seasonally weaker.  A generous and likely sustainable dividend yield of 8% due to large cash reservoir and cheap valuations provides compensation for stock price volatility.  Valuetronics is a compelling buy due to the above investment merits, coupled with Valuetronics better than average performance vs peers. Investment Action Considering most of their peers also have forecasted growth of single digits, we believe Valuetronics cannot trade less than the peer average PE of 7.9x given that Valuetronics has 1) operated on better net margins of > 5% vs the typical 3%, 2) have never turned in a loss making year even from before IPO, 3) has an ROE of 22% vs peer average of 10%, 4) and has done so without leverage (having a net cash ratio to market cap of ~50%) - making its ROE performance even more impressive. An estimated FY15 net earnings of HK$150.2M implies an FY15 PE of 6.2x at last traded price of S$0.405. Valuating Valuetronics at an undemanding 8.0x (slightly higher than peer average) implies a value of S$0.53 on earnings alone. Adding S$0.125 per share of idle cash gives us S$0.655. This is conservative considering we are only taking 60% of net cash into our value consideration, and the global GDP recovery, favorable LED lighting cycle and encouraging earnings momentum into FY15 (better seasonal Q4) should provide a tailwind buffer. Adjusting for potential dilution, assuming that all in-the-money outstanding stock options are exercised, leads us to a conservative fair price of SG$0.637 (before dividend) which is S$0.605 excluding the 3.2 SG cent dividend payout. This represents a total upside, including dividends, of 57% from the last traded price of S$0.405.
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sunview Veteran	20-Jun-2014 15:25        sunview About Contact  Quote this Post!
x 0   x 0  Alert Admin	Wow, strong rebound on touching the bottom of  uptrend line at 40 cents. Now 43 cents. Strong volume, 9721 lots done at the moment.
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kyrie100 Member	20-Jun-2014 15:21        kyrie100 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Chiong ah
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sunview Veteran	09-Jun-2014 10:11        sunview About Contact  Quote this Post!
x 0   x 0  Alert Admin	Haha. 42.5 cents now.
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sunview Veteran	06-Jun-2014 15:24        sunview About Contact  Quote this Post!
x 0   x 0  Alert Admin	Valuetronics at $0.415 now.
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sunview Veteran	03-Jun-2014 14:30        sunview About Contact  Quote this Post!
x 0   x 0  Alert Admin	I mean at $0.405 Haha.   sunview      ( Date: 03-Jun-2014 14:29) Posted: At $4.05, Valuetronics is heading into uncharted terrritories.
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sunview Veteran	03-Jun-2014 14:29        sunview About Contact  Quote this Post!
x 0   x 0  Alert Admin	At $4.05, Valuetronics is heading into uncharted terrritories.
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sunview Veteran	28-May-2014 10:09        sunview About Contact  Quote this Post!
x 0   x 0  Alert Admin	Valuetronics announced this morning FY2014 results.   Net profit up 88% to reach HK$147.9 million Higher gross profit and net margin Operating activities generating substantial cash flow of HK$303M, with zero debt and HK$478M net cash on hand as at year end Announces dividend policy to pay out 30 &ndash 50% of net profit attributable to shareholders in any financial year Proposes final dividend of 16 HK cents per share and special dividend of 4 HK cents per share NAV at HK$1.972 per share
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sunview Veteran	21-May-2014 14:47        sunview About Contact  Quote this Post!
x 0   x 0  Alert Admin	Wa, still going strong at $0.375. Not too far away from all time high of $0.395/0.40 set in year 2007 neh. Anything boiling ?
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