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381-400 of 533
32.5 cents is a good price to accumulate as the company is doing well.
NAV from 51.22 cents to 54.19 cents
still waiting for Tiong Woon to give new year Ang Pow
I have locked in some profit after seeing tw fail to break 34
shareluck ( Date: 12-Feb-2014 13:59) Posted:
hope this time can cross 40 cents after result released
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hope this time can cross 40 cents after result released
Added.some tiongwoon today...result.play..expect out within this week
WanSiTong ( Date: 09-Oct-2013 20:37) Posted:
Tiong Woon Corp - completed the sale of their loss making shipyard in Bintan yesterday
■ Tiong Woon Corp (TWC) has finally completed the sale of their loss making shipyard in Bintan yesterday.
■ This is a very positive development as the shipyard lost close to $3mln last year and was sold for $18mln, reaping them a one-time gain of $2.7mln.
■ TWC?s cash holdings will be increased by 75% from $24mln to $42mln.
■ Net gearing will improve from 33% to a healthy 25%.
■ This will come in handy to fund the company?s expansion plans as management seeks to expand into the Iskandar region to capitalize on the region?s expected construction boom over the next few years.
■ As well, management is contemplating expanding their Singapore facilities as their current operating space is getting tight based on their current runrate and orders.
■ This is because a key customer of TWC, Rotary Engineering has secured a record order book of just over $1bln, which is expected to be delivered over the next 2 years.
■ Other oil related customers such as Total, Sinopec and Shell are also expanding aggressively in Tuas (Singapore Lube Park).
■ After the sale of the loss making yard, this year (ending June?14) will benefit from the absence of close to $3mln in operating losses attributed to the yard.
■ This will see TWC easily achieving our 25% net profit growth projection for full year ending June?14 of $22.5mln, translating to a forward PE of 7x.
■ This is undemanding relative to its growth prospects of 25% as well as peers such as Tat Hong?s 10x and Hiap Tong?s 9x. ■ TWC?s NTA of 52 cents means its price to book is only 0.65x and we note that its assets have not been re-valued and are kept at historical cost.
■ If TWC can trade up to its peer group average PE of 9.5x, there is potentially an upside of 36% to 46 cents, which would still put it at a discount to its NTA of 52 cents.
FURTHER ANNOUNCEMENT ON THE PROPOSED DISPOSAL OF 100% INTEREST IN A WHOLLY-OWNED SUBSIDIARY
http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_BF101020BA3F4FC448257B810041C707/$file/TWCH_SPA_5June2013.pdf?openelement
WanSiTong ( Date: 09-May-2013 09:26) Posted:
Profit from the disposal have not been taken up in this yr accounts yet!  | |
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I think it will be very explosive when it moves
blow job must be done If still no wind
Bro Shareluck,
How come no wind here?
WanSiTong ( Date: 19-Jan-2014 22:15) Posted:
Idk why everything Low............lol.
Transaction volumn also low!
WanSiTong ( Date: 19-Jan-2014 21:42) Posted:
Ya........ this stock is very undervalued.
Low PE, low PB.
This company keep a low profile.
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Idk why everything Low............lol.
Transaction volumn also low!
WanSiTong ( Date: 19-Jan-2014 21:42) Posted:
Ya........ this stock is very undervalued.
Low PE, low PB.
This company keep a low profile.
Secret_Squirrel ( Date: 19-Jan-2014 21:20) Posted:
I always buy at around 35 to 36 cents and sell at 40 cents.
Hope that this time round will be able to make some angpow money. huat ah!
I attended Tiong Woon AGM last year. The management is quite conservative. They are more interested in managing the company well than trying to make the share price goes up. They gave little dividend and keeping the earnings to buy bigger and better cranes to compete with the Big Boys .
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Ya........ this stock is very undervalued.
Low PE, low PB.
This company keep a low profile.
Secret_Squirrel ( Date: 19-Jan-2014 21:20) Posted:
I always buy at around 35 to 36 cents and sell at 40 cents.
Hope that this time round will be able to make some angpow money. huat ah!
I attended Tiong Woon AGM last year. The management is quite conservative. They are more interested in managing the company well than trying to make the share price goes up. They gave little dividend and keeping the earnings to buy bigger and better cranes to compete with the Big Boys .
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I always buy at around 35 to 36 cents and sell at 40 cents.
Hope that this time round will be able to make some angpow money. huat ah!
I attended Tiong Woon AGM last year. The management is quite conservative. They are more interested in managing the company well than trying to make the share price goes up. They gave little dividend and keeping the earnings to buy bigger and better cranes to compete with the Big Boys .
is time to give some ang pao for CNY
Earnings growth on track with possible one-time gain in 2Q14.
Valuation
? Tiong Woon (TWC) is trading at a 33% discount to its book value of 52.2 S cents with a dividend yield of 1.1%. As at 30 Sep 13, Tiong
Woon had a fleet of 431 cranes in lifting assets, 262 vehicles and equipment in haulage assets and 17 tugs and barges in marine assets.
Investment highlights
? TWC reported an 11% yoy increase in net profit to S$4.6m in 1Q14,
driven by a rise in revenues and margins from the Heavy Lift and
Haulage and Trading segments. Total revenue rose 3% yoy to S$44.6m
and gross profit jumped 30% to S$14.8m with gross profit margin
improving to 33% from 26% in 1Q13. The Heavy Lift and Haulage
segment recorded a 6% yoy increase in revenue to S$36.3m and
contributed 81% of the Group?s revenue.
? According to management, the company should see a slight
improvement in utilisation rate after deploying two heavy tonnage
cranes into Russia. On top of this, TWC will also be actively seeking oil
and gas, petrochemical, power and construction projects in Myanmar,
Vietnam and India.
To reduce operating costs, TWC is currently evaluating the tenders
for the re-development of the new office and warehouse space at 15
Pandan Cresent. This property will add 1ha of parking space on the
rooftop as well as a 500-bedded workers? dormitory. The company
expects to lower their total manpower costs and there is also a
possibility of renting out half of their dorms.
? TWC has sold its loss-making subsidiary Tiong Woon Oil & Gas
Services Pte Ltd for a sum of S$18.0m. The subsidiary is in the
business of marine fabrication and engineering works for oil and gas
projects but has faced several challenges in getting new contracts due
to a lack of track record. With the disposal, the company is likely to
record a gain on disposal of approximately S$2.7m in the next quarter.
? We re-iterate that Tiong Woon is not a pure crane rental operator.
Tiong Woon differentiates itself from other crane operators by providing
a comprehensive project management service apart from bare crane
rental. These service project contracts are longer term in nature (rates
are locked in) and therefore, earnings are theoretically less volatile in
nature.
Price Chart
Source: Bloomberg
Thank you Mr everything also know
I think not too far already
May all you dreams come true!... Huat arh....
WanSiTong ( Date: 07-Nov-2013 17:50) Posted:
Everyone must have a dream........
shareluck ( Date: 07-Nov-2013 17:32) Posted:
| 35...40.....45.....50......52......... |
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Everyone must have a dream........
shareluck ( Date: 07-Nov-2013 17:32) Posted:
| 35...40.....45.....50......52......... |
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35...40.....45.....50......52.........
huat ah
Tiong Woon?s net profit rose 11% to S$4.6m on
turnover of S$44.6m for
first quarter ended 30 September 2013
NAV : 52.16c
Sorry PAT for TW should read 19.3m instead of 16.3m
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Tat Hong |
Tiong woon |
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1Q ended 30.6.13 |
Full yr ended 30.6.13 |
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| Profit & Loss |
($' M) |
($' M) |
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| Revenue |
175x4=700 |
200 |
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| Profit after Tax |
9.2x4=36.8 |
19.3 |
*After the sale of the loss making yard, this year (ending June14) will benefit
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| depreciation |
21.5x4=86 |
27 |
from the absence of close to $3mln in operating losses attributed to the yard. |
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| EPS (cents) |
1.28x4=5.12 |
4.23+0.65=4.88 |
* Adjusted for 3m increase in profit due to the sales of yard |
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| NTA (cents) |
98 |
51.22 |
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| Balance sheet items |
($' M) |
($' M) |
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| Properties, plant & Equipments |
912.8 |
307.3 |
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| Inventory |
182.7 |
4.7 |
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| Trade & receivables |
241.4 |
68.8 |
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| Cash & Bank |
58.1 |
26.2 |
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| TOTAL ASSETS |
1521.9 |
426.5 |
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| Financial Liabilities |
500.4 |
102.3 |
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| TOTAL Liabilities |
793.9 |
185.9 |
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| Cash Flow Statement |
($' M) |
($' M) |
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| Purchase of Plant & equipments |
38.5x4=154 |
14 |
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| Repayment of borrowing |
34x4=136 |
23.5 |
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| Financial lease |
25x4= 100 |
15.5 |
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| Interest paid |
4.8x4=19.2 |
2.7 |
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