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Tuan Sing
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Global Invacom, a satellite play
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superstartup
Supreme |
05-May-2021 14:19
Yells: "Enjoy doing Fundamental Research" |
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DBS up target price by 8c Tuan Sing Holdings : BUY Last Traded Price: S$0.405 Price Target (12-mth): S$0.54 (Prev S$0.46) Upside 33.9% Crystallising hidden gold (Gul) &bull RMB435m GulTech stake sale marks another step to unlock value &bull Potential GulTech IPO could almost double Tuan Sing&rsquo s market cap in theory &bull Office and hotel business fundamentals improving &bull Maintain BUY with higher TP of S$0.54 |
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Goldfinger
Supreme |
05-May-2021 14:18
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I love this sentence. No selling my TS shares now.... market cap of $830mio means like each share is trading at 80 cents by then.... " GulTech IPO could almost double Tuan Sing&rsquo s market cap in theory. Our c.S$700m valuation of GulTech was based on 11.0x FY21F PE which translates into a historical PE of c.12x. GulTech&rsquo s peers in China are however trading at a higher historical PE of between 20x and 43x (average c.29x). Assuming a conservative PE of 22.0x, GulTech would be worth S$1.3bn and Tuan Sing&rsquo s remaining stake (after the divestment above) would be worth c.S$486m vs Tuan Sing&rsquo s current market cap of c.S$480m. Accounting for this GulTech valuation, Tuan Sing&rsquo s potential market cap could surge to c.S$830m."
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Goldfinger
Supreme |
05-May-2021 14:13
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No wonder. At least DBS has the guts to stick out with this type of call.
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Stanton
Veteran |
05-May-2021 13:53
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DBS report with target price $0.54
https://www.dbs.com.sg/treasures/aics/templatedata/article/recentdevelopment/data/en/DBSV/052021/TSH_SP_05052021.xml# |
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SmallSmall
Supreme |
05-May-2021 13:50
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Noticed they had also done some share buybacks at a higher price of $0.40 from $0.33 after the annoucement of the propsed Gul Tech transaction. Can see $0.45 today?
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SmallSmall
Supreme |
05-May-2021 13:29
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Same as Wilmar who IPO-ed Yihai which alone has a larger cap than Wilmar itself. Wilmar was alos stucked with an un-deserving valuation until it finally shot up more than a $1 within 2 months. Same for Tuan Sing. Matter of time before some opportunist fund came in to mop up the shares. Would have started all you know. I remember seeing a large lending pool in the SBL pool. There are no shares for lending now. Either the guy has sold off and recalled his shares or someone is losing big time who borrowed the shares to short. |
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Stanton
Veteran |
05-May-2021 12:54
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Around Jan 2018 $0.49 and if I recall correctly, it briefly touched $0.50. The financial position now if far better than back in 2018.
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kusje58
Member |
05-May-2021 11:45
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0.42! What' s ATH on this stock?
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Goldenfire
Senior |
04-May-2021 08:35
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Another 10% today will be good | ||||
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Goldfinger
Supreme |
03-May-2021 18:45
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Well done TS - green standout amidst a sea of red today. Should continue drifting up towards the divestment, sale of Robinson Point conclusion and listing on a Chinese stock exchange (hopefully Shenzhen). | ||||
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Secret_Squirrel
Elite |
03-May-2021 11:01
Yells: "Stay curious but skeptical" |
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This is a wise move. Now it is no longer attractive to invest in China as the cost of labour is moving up. Countries are moving to India and Vietnam. I think sooner south east Asia is also going to benefit.
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Joelton
Supreme |
03-May-2021 09:34
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Tuan Sing sells 13% stake in Gultech China at RMB3.35 bil valuation, mulling IPO
Tuan Sing Holdings has sold a 13% stake in indirectly-held associate Gultech (Jiangsu) Electronics for RMB435 million. On top of this transaction, Tuan Sing is weighing a potential IPO of Gultech in China.
This entity is held by Tuan Sing via a 44.5%-owned associate. At the transacted price, Gultech, which makes printed circuit boards, is valued at RMB3.35 billion.
&ldquo The transaction is in line with our plans to strengthen balance sheet and sharpen our focus on our core property business in the region,&rdquo says Tuan Sing CEO William Liem.
The buyers are two China-based asset managers: Yonghua Capital and Wens Capital. Their respective parent entities are the Yongjin Group and Wens Foodstuffs Group.
&ldquo Beyond our common ownership in Gultech, we will continue to explore opportunities for potential collaborations to broaden and deepen our presence in China as we leverage on the funds&rsquo extensive institutional knowledge and local network in China,&rdquo says Liem.
According to Tuan Sing, the deal is meant to help monetise its long-held investment in Gultech, which was privatised in 2013.
For the financial year ended 31 December 2020, Gultech reported earnings of U$42.6 million ($58.8 million).
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Goldfinger
Supreme |
03-May-2021 09:28
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Getting aggressive buying now. | ||||
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Goldfinger
Supreme |
03-May-2021 09:16
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Great start - up 5 cents. Hope it steadies around this range to build a base to climb farther up towards any China listing of Gultech China. | ||||
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jackass
Member |
03-May-2021 09:03
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Monster gap up to 0.42 cents Still good to buy-in at 0.42 cents ? 
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Goldfinger
Supreme |
03-May-2021 07:57
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Any target on price move today? Up 2 cents to 5 cents? To add if stay at current levels? Any views appreciated. | ||||
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nott1965
Veteran |
02-May-2021 23:19
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Never pay ST analyst like other property counters to boost price?
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Stanton
Veteran |
02-May-2021 22:12
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Problem with TS is that they don?t seem to do any investor relations activity so share price hard to move. Justblook at current share price of $0.375 vs NAV of $0.977. So lets see if market starts to see value in TS.
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Goldfinger
Supreme |
02-May-2021 22:00
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Agree - the more exciting news is the potential listing. Hope they pay a big fat dividend from the sale of Robinson Point and the divestment to shareholders.
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Stanton
Veteran |
02-May-2021 21:54
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This divestment is valued at 12x historical PE based on FY2020 earnings. Tech stocks listed on China exchange can shoot up to very high PE ratios. | ||||
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