Ley Choon    Last:0.096    -0.001

Ley Choon

Bought some to hold for a few weeks at least. Low risk high possible return :-)

Morello      ( Date: 13-Jun-2017 11:16) Posted: agree ---> waiting for 4+ in the medium term dav781      ( Date: 13-Jun-2017 11:12) Posted: But ley Choon seems like the kind that moves up slowly, even with volume :-

 

Buy from sell queue @13.58mil.  Sell to buy queue @0.57mil only.........looking good.

 

agree ---> waiting for 4+ in the medium term

dav781      ( Date: 13-Jun-2017 11:12) Posted: But ley Choon seems like the kind that moves up slowly, even with volume :-( Siwomp      ( Date: 13-Jun-2017 10:56) Posted: Vol is the basis of a good run.......

 

But ley Choon seems like the kind that moves up slowly, even with volume :-(

Siwomp      ( Date: 13-Jun-2017 10:56) Posted: Vol is the basis of a good run.......

 

oops. I mean 4.5 cents. hahaha.

dav781      ( Date: 13-Jun-2017 11:09) Posted: Ley Choon' s NAV is not as good as Chasen. But I think it should hit around 45 cents. Back to its core business after restructing, it should do well. PUB is going to lay a lot of pipes in the next 2 to 3 years! dyingcat      ( Date: 13-Jun-2017 11:00) Posted: Will this repeat the story of Chasen which has run from 0.02x to 0.107?

 

Ley Choon' s NAV is not as good as Chasen. But I think it should hit around 45 cents.

Back to its core business after restructing, it should do well. PUB is going to lay a lot of pipes in the next 2 to 3 years!

dyingcat      ( Date: 13-Jun-2017 11:00) Posted: Will this repeat the story of Chasen which has run from 0.02x to 0.107?

 

Will this repeat the story of Chasen which has run from 0.02x to 0.107?

 

Vol is the basis of a good run.......

 

Sorry, I mean Quite bullish today :-)

dav781      ( Date: 13-Jun-2017 10:41) Posted: uite bullish today. Most buy-ups!!! 0X (Ley Choon)  Information is updated as of Tue, June 13, 2017 at 10:38:56 AM  Last Chng Vol High Low  0.031 +0.002 9,497.9 0.031 0.029  Bid Bid Vol Ask Ask Vol  0.030 3,822.4 0.031 2,967.3  0.029 3,945.9 0.032 3,270.2  0.028 4,422 0.033 2,271  0.027 4,994 0.034 2,445.9  0.026 3,438 0.035 1,870  0.025 3,080 0.036 500  0.024 3,718.2 0.037 280 WEIGHTED AVG PRICE : 0.0303 LAST DONE PRICE : 0.031    SPREAD/PRICE RATIO : 0.0323 AVG TRADE SIZE : 114.433  Last Trades Vol BuyVol Mid SellVol  0.029 9 744.1 13.1 0 731  0.030 30 4,773.3 96 0 4,677.3  0.031 44 3,980.5 0 0 3,980.5  TOTAL 83 9,497.9 109.1 0 9,388.8

 

uite bullish today. Most buy-ups!!!

0X (Ley Choon) 
Information is updated as of Tue, June 13, 2017 at 10:38:56 AM 
Last Chng Vol High Low 
0.031 +0.002 9,497.9 0.031 0.029 

Bid Bid Vol Ask Ask Vol 
0.030 3,822.4 0.031 2,967.3 
0.029 3,945.9 0.032 3,270.2 
0.028 4,422 0.033 2,271 
0.027 4,994 0.034 2,445.9 
0.026 3,438 0.035 1,870 
0.025 3,080 0.036 500 
0.024 3,718.2 0.037 280

WEIGHTED AVG PRICE : 0.0303 LAST DONE PRICE : 0.031 
  SPREAD/PRICE RATIO : 0.0323 AVG TRADE SIZE : 114.433 
Last Trades Vol BuyVol Mid SellVol 
0.029 9 744.1 13.1 0 731 
0.030 30 4,773.3 96 0 4,677.3 
0.031 44 3,980.5 0 0 3,980.5 
TOTAL 83 9,497.9 109.1 0 9,388.8 

 

I like this, back to its core compentency.......... back to sustain profitability.

 

The good thing about Govt projects is that there is no need to go for the lowest bidding. They take into consideration experience and reputation. Ley Choon should have some advantages. Of coz, Ley Choon must prove themselves in the P& L. Hopefully, a fifth consecutive quarter of profit in 2 months' time.

Anyway, volume and price is good today :-)

Morello      ( Date: 09-Jun-2017 09:57) Posted: Fair analysis Nothing much to add except for pipe laying projects or similar, pricing is extremely competitive, so not  easy to win public tenders. Even then, margins are very thin.  For now, I think this is just a BB play.   dav781      ( Date: 08-Jun-2017 16:39) Posted: Just sharing some thoughts of my value analysis of Ley Choon. Pls feel free to comment. 1. EPS for FY2017 = 3.16 cents. This is not an accurate reflection of the actual earnings of the company as out of the $17.8 million profit, $17.8 million is from the sale of 2 properties and its property development company. However, in FY2017, Ley Choon paid quite a bit for professional fees (for the restructuring), additional impairment losses on plant and equipment and motor vehicles and impairment losses on trade receivables in Yantai. I am also expecting lower finance cost (after restructuring) in FY2018. Taking all into consideration, I would expect EPS for FY2018 to be around 20% of FY2017. Also, there was the rights issue. Thus, expected EPS for FY2018 should be at least (I expect more business for Ley Choon due to PUB laying more water pipes in the next 2-3 years) 3.16 cents x 0.2 x 0.5 = 0.316 cents. Taking a conservative multiplier of 11 (for construction companies), I would expect Ley Choon to be worth at least 0.35 cents per share. 2. NAV per share after rights issue is 2.68 cents, so current price of 0.27 cents should be a safe price to enter. Most construction companies have NAV per share of more than 1. Using 1 is rather conservative as well.

 

Fair analysis
Nothing much to add except for pipe laying projects or similar, pricing is extremely competitive, so not  easy to win public tenders. Even then, margins are very thin.  For now, I think this is just a BB play.
 

dav781      ( Date: 08-Jun-2017 16:39) Posted: Just sharing some thoughts of my value analysis of Ley Choon. Pls feel free to comment. 1. EPS for FY2017 = 3.16 cents. This is not an accurate reflection of the actual earnings of the company as out of the $17.8 million profit, $17.8 million is from the sale of 2 properties and its property development company. However, in FY2017, Ley Choon paid quite a bit for professional fees (for the restructuring), additional impairment losses on plant and equipment and motor vehicles and impairment losses on trade receivables in Yantai. I am also expecting lower finance cost (after restructuring) in FY2018. Taking all into consideration, I would expect EPS for FY2018 to be around 20% of FY2017. Also, there was the rights issue. Thus, expected EPS for FY2018 should be at least (I expect more business for Ley Choon due to PUB laying more water pipes in the next 2-3 years) 3.16 cents x 0.2 x 0.5 = 0.316 cents. Taking a conservative multiplier of 11 (for construction companies), I would expect Ley Choon to be worth at least 0.35 cents per share. 2. NAV per share after rights issue is 2.68 cents, so current price of 0.27 cents should be a safe price to enter. Most construction companies have NAV per share of more than 1. Using 1 is rather conservative as well.

 

Just sharing some thoughts of my value analysis of Ley Choon. Pls feel free to comment.

1. EPS for FY2017 = 3.16 cents. This is not an accurate reflection of the actual earnings of the company as out of the $17.8 million profit, $17.8 million is from the sale of 2 properties and its property development company. However, in FY2017, Ley Choon paid quite a bit for professional fees (for the restructuring), additional impairment losses on plant and equipment and motor vehicles and impairment losses on trade receivables in Yantai. I am also expecting lower finance cost (after restructuring) in FY2018. Taking all into consideration, I would expect EPS for FY2018 to be around 20% of FY2017. Also, there was the rights issue. Thus, expected EPS for FY2018 should be at least (I expect more business for Ley Choon due to PUB laying more water pipes in the next 2-3 years) 3.16 cents x 0.2 x 0.5 = 0.316 cents. Taking a conservative multiplier of 11 (for construction companies), I would expect Ley Choon to be worth at least 0.35 cents per share.

2. NAV per share after rights issue is 2.68 cents, so current price of 0.27 cents should be a safe price to enter. Most construction companies have NAV per share of more than 1. Using 1 is rather conservative as well.

 

This tread has been dead for so long, just like Ley Choon :-)

But Ley Choon is on its way back. 4 consecutive quarters in the black, better cost control and focused business after restructuring, extensive water pipe laying in Singapore in the next 2 years etc.

 

top loser in % second to vard only.

siong aah.

 

coy bought 49 lots only but got to provide

five SGX announcement.

 

volumn high , price down.

not good today.

 

no more lelong, lelong.

got buyer no seller.

 

This is called " Kitchen Sinking" . Similar to what the banks did in 2008/09. 

Jimmykohkk      ( Date: 22-Aug-2014 19:13) Posted: Results just out: Net profit after tax The Group reported a net loss after tax of $26.0 million for Q2FY14 compared to a net profit after tax of $2.1 million for Q2FY13 due to the various reasons as disclosed above. Gone case sheerluck      ( Date: 26-Apr-2014 20:51) Posted: Ley Choon business is sound.   Mostly govt jobs with little risk of bad debt.   However, two points to note: - huge debt (mostly short term suggesting a need to improve working captial).   gearing 1.5x. financial cost from this eats away 1/3 of its profit. - margin eroison with any further increase in foreigh worker levy. Unfortunately, its share place is so low that any fund raising by share placemnt will dilute its EPS too much.   What it needs to do is to negotiate a better payment schedule for its work.   Get the cash in quick to reduce the hugh short term loan.   This should help to improve its earning through a lowered financial cost. They will also need to keep an eye on their porject management to prevent losses from unapproved work and variation order. Excluding all the once-offs in the last two FY, core PE is 12-13, price-to-book is 0.9.   Let see what their Q1 reporting card reveals.