Serial System    Last:0.076   -

serial system

Half year profit .. US$7.2 mil. Dividend declared o.4 cts.
Currently trading ex-dividend. Forward p/e below 10X.

The divestment will give the company a gain of US$20 mil.
Management also announced that a special dividend will be given.

For info ... dyodd

josephyeo      ( Date: 12-Sep-2018 13:42) Posted: SSL_Disposal_Announcement_Press_Release.pdf

 

SSL_Disposal_Announcement_Press_Release.pdf

 

What happened in taiwan? Investigated for?

 

Big plunge. Trade war and also investigated in Taiwan on business dealing

 

1st quarter result:

Profit jumps 92% to US$5.2 mil.
Revenue at all time high of US$405 mil.

 

Serial System ... 1st quarter result just out.
An excellent set of results. See link below:

SSL_1Q2018_results_press_release_Final.pdf

 

not a good sign. price may fall

NextEvolution      ( Date: 05-Apr-2018 15:16) Posted: Serial System really got system downgrade. From main board now going to apply for Catalist listing. And now hv to look for sponsor liao ... LOL

 

Serial System really got system downgrade.

From main board now going to apply for Catalist listing. And now hv to look for sponsor liao ... LOL

 

Serial System: General Announcement :: NOTICES BY ELECTRONIC COMMUNICATIONS

Serial System: Disclosure of Interest/ Changes in Interest of Substantial Shareholder(s)/ Unitholder(s) :: Notification of change in percentage level of a substantial shareholder
 

 

Sam Kor finally coming back to supoort

josephyeo      ( Date: 03-Apr-2018 23:48) Posted: Sam Goi - Serial System Form 3_Final_3Apr18.pdf josephyeo      ( Date: 03-Mar-2018 23:39) Posted: Correction ... market cap S$150 mi

 

Sam Goi - Serial System Form 3_Final_3Apr18.pdf

josephyeo      ( Date: 03-Mar-2018 23:39) Posted: Correction ... market cap S$150 mil josephyeo      ( Date: 03-Mar-2018 23:31) Posted: My golden rule:   Buy shares with low p/e, with dividends and show continue growth in top n bottom line. Avoid companies which report losses, do not pay dividends and with high p/e.   Have patience n convictions.   Serial System FY 2016 profit S$6.016 mil FY 2017 profit S$12.606 mil Improved by S$6.590 / 109% Market Cap &ndash S$105.5 mil (based on price of 16.8 cts) Trailing P/E &ndash 11.8 Dividend &ndash 0.75 cts (annualised n based on price of 16.8 cts) Dividend yield : 4.4% Price 52 weeks &ndash high 19.3 cts, low 14.0 cts   Going forward to financial year 2018, company likely to show further improvements in top n bottom Serial System meets my criterias of improving top n bottom lines. Valuation likely to improve as results improve. Debt as a % of revenue is only 16%.

 

Correction ... market cap S$150 mil

josephyeo      ( Date: 03-Mar-2018 23:31) Posted: My golden rule:   Buy shares with low p/e, with dividends and show continue growth in top n bottom line. Avoid companies which report losses, do not pay dividends and with high p/e.   Have patience n convictions.   Serial System FY 2016 profit S$6.016 mil FY 2017 profit S$12.606 mil Improved by S$6.590 / 109% Market Cap &ndash S$105.5 mil (based on price of 16.8 cts) Trailing P/E &ndash 11.8 Dividend &ndash 0.75 cts (annualised n based on price of 16.8 cts) Dividend yield : 4.4% Price 52 weeks &ndash high 19.3 cts, low 14.0 cts   Going forward to financial year 2018, company likely to show further improvements in top n bottom Serial System meets my criterias of improving top n bottom lines. Valuation likely to improve as results improve. Debt as a % of revenue is only 16%.

 

My golden rule:

Buy shares with low p/e, with dividends and show continue growth in top n bottom line.

Avoid companies which report losses, do not pay dividends and with high p/e.

Have patience n convictions.

 

Serial System

FY 2016 profit S$6.016 mil

FY 2017 profit S$12.606 mil

Improved by S$6.590 / 109%

Market Cap &ndash S$105.5 mil (based on price of 16.8 cts)

Trailing P/E &ndash 11.8

Dividend &ndash 0.75 cts (annualised n based on price of 16.8 cts)

Dividend yield : 4.4%

Price 52 weeks &ndash high 19.3 cts, low 14.0 cts

Going forward to financial year 2018, company likely

to show further improvements in top n bottom

Serial System meets my criterias of improving top n bottom lines. Valuation
likely to improve as results improve.

Debt as a % of revenue is only 16%.
 

 

look at the debt ha ha ha investors take care

 

The result would be alright if not for these one-offs non recurring " expenses" :
 

Impairment loss on financial asset, available-for-sale	1424
Impairment losses on trade receivables	3802
Allowance/(write-back of allowance) for inventory obsolescence	966
Write-off of inventories	242
Hong Kong IPO expenses	549
Total	6983

The good thing w these impairments n write offs is that the company
will be starting on a clean sheet for the new financial year, implying
a good 1st quarter result.

Above is just my views n i could be wrong. Pls dyodd.
 

 

Serial System result is out:

1. revenue up ... from US$1,402 mil to US$1,492 mil, up 6%
2. profit up ... from US$4.558 mil to US$9.550 mil, up 110%
3. dividend up ... from 0.35 cts (S) to 0.75 cts (S), 114%. Dividend is annualised. Yield 4.2%
4. nta up ... from 13.93 cts (US) to 16.19 cts (US), up 16.2%
5. gross margin up ... from 6.9% to 7.0%
6. net margin up ... from 0.32% to 0.63
7. cash up ... from US$65.153 to US$73.080.
8. debt up ... from US$204.4 to US$239.6 mil.

Notes :
1.On friday' s closing price of 17.5 cts (S), the company is capitalised at S$156.7 mil.
    Based on current earnings the price earning ratio now stands at 12.1 X
2. The 1st 3 quarters results were in line with expectation but the last quarter was a disappointment
    as it was not in line with the profit trend reported in the earlier quarters. The 4th quarter profit
    was down by 91% against last year same quarter, from US$4.048 mil to US$0.358 mil
3. Reasons given for the lower profits were:
i) higher allowance for impairment losses on trade receivables,
ii) allowance forinventory obsolescence,
iii) impairment loss on financial assets available-for-sale
iv) Higher professional fees attributable to the Group&rsquo s proposed listing of its 91%-owned Hong Kong     
subsidiary, Serial Microelectronics (HK) Limited group

If these are one-off impairments/allowances, then its acceptable. Pls refer to financial reports for details.

On balance its a fair result, though i had expected better results.

Conclusion: will hold till their annoucement on listing in the Stock Exchange of Hong Kong and maybe
the next 2 quarters. Will share the reasons for my decision to hold at a later date

End for now ...

 

Results got 4Q is out. Is this expected ?

josephyeo      ( Date: 24-Feb-2018 14:36) Posted: An update on " why it pays to go long" ...     Price at date of post   ......current......   ......returns......   ...posted on... JEP Holding 2.8   9.1   225.0   4 apr ' 17                 Chasen 3.6   7.6   111.1   16 feb ' 17                 Ausgroup 3.2   5.2   62.5   16 oct ' 17                 Excelpoint 49.5   70.5   42.4   27 feb ' 17                 ISEC 31.5   32.5   3.2   26 may ' 17                 Serial System 17.0   17.5   2.9   17 oct ' 17                   107.6   142.4   32.3     i am still vested in these counters. Expect ISEC and Serial System to do better. Just sharing ...

 

An update on " why it pays to go long" ...
 

	Price at date of post		......current......		......returns......		...posted on...
JEP Holding	2.8		9.1		225.0		4 apr ' 17
Chasen	3.6		7.6		111.1		16 feb ' 17
Ausgroup	3.2		5.2		62.5		16 oct ' 17
Excelpoint	49.5		70.5		42.4		27 feb ' 17
ISEC	31.5		32.5		3.2		26 may ' 17
Serial System	17.0		17.5		2.9		17 oct ' 17
	107.6		142.4		32.3

i am still vested in these counters. Expect ISEC and Serial System to do better.
Just sharing ...

 

Result should be out today. Should be interesting !!!

josephyeo      ( Date: 21-Feb-2018 14:53) Posted: Repost for those who missed it. Reporting season is back. Last year Serial System reported it' s result on 22 Feb. I am bullish on Serial System for the following reasons: 1. its 9 months current year profit of US$9.2 far exceeded last year full year profit of US$4.5. The upcoming result should good. 2. company normally declare better dividend when the profit improve. I expect higher dividend this year. 3. in the company' s presentation, i can sense that the management is becoming more focus on margin. This should be good for it' s bottomline. 4. its still tarding below it' s nta of 19.8 cts 5. Finally, i believe that going forward to year 2019, the profitability of the company will be even better given the company' s focus on margin n non performing assets. For a company with high level of revenue, an improvement of even 0.2% will have big impact on it' s bottomline. Above are just my thoughts/perception and i could be wrong. Pls do your own due diligence.

 

CHIONG ARH!!!