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i think the company cannot give dividend after the major restructure !!
chiachiawee ( Date: 01-Mar-2025 16:19) Posted:
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I guess this one Monday and coming months huat ka Xiao already. Huat dua cai. Shiok.
Nam Cheong reports earnings of RM790.1 mil for FY2024, more than quadruple than year before
Nam Cheong has reported earnings of RM790.1 million ($223.69 million) for FY2024, ended Dec 31, 2024, more than quadruple its profit for the year before of RM157.3 million.
For the 2HFY2024, the offshore support vessel (OSV) provider saw earnings of RM163.5 million, up 30% y-o-y.
Revenue for FY2024 was RM689.4 million, up 45% y-o-y. Meanwhile, revenue for 2HFY2024 saw a 37% y-o-y increase to RM377.4 million.
Gross profit more than doubled to RM366.1 million for FY2024, and RM220.1 million for the 2HFY2024.
Nam Cheong says that the growth in revenue was solely from the vessel chartering division, up 45.1% y-o-y. The increase was mainly driven by fleet expansion, improved daily charter rates and higher vessel utilisation of larger vessels.
Other income increased to RM564.0 million in FY2024 mainly attributable to the waiver of debts pursuant to the 2024 Scheme and the DRMA which have become fully effective and unconditional on March 30, 2024.
The group&rsquo s financial cost decreased by 30.7% y-o-y to RM19.0 million for FY2024 after the conclusion of the debt restructuring.
Shares of profit of associates increased to RM27.8 million in FY2024, mainly due to the realisation of assets by one of the associates during the reporting period.
The group has not declared any dividends for the reporting period.
In SGX if want dividend go for STI components. Don?t mention dividend yield in small mid cap and penny, it?s all about earnings, core earnings. Cheers.
No dividend , at least BK give dividends, yet drop like hell， doesn't make sense
Based on H2 2024 normalized earnings of RM0.40, it is trading at P/E of less than 3x projected annualized earnings. LOL.
Yup essentially the case of positioning early to reap larger rewards, was already in at 40c. I do agree it has to climb another 100% to be on par with that of MPM and yet at single digit PE. Hope to see more when the result unveil next week. Cheers.
valkyrie ( Date: 20-Feb-2025 11:06) Posted:
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Next week. People are likely anticipating this as it tends to rise by 10% or more quite easily. Right now is a good time to accumulate considering that to have a very undervalued PE of 7, the price should be around $1 as someone mentioned below.
Since it' s currently at 50c that would represent a 100% return, something this stock tends to achieve within relatively short periods.
Its current PE of 3 doesn' t make any sense. The reason it has such a low valuation is that it was relisted after bankruptcy (half of its debt was forgiven) and is still priced accordingly. However its true value is much higher, to reach the valuation of Marco Polo Marine it would need to rise by 100%.
Since it' s currently at 50c that would represent a 100% return, something this stock tends to achieve within relatively short periods.
Its current PE of 3 doesn' t make any sense. The reason it has such a low valuation is that it was relisted after bankruptcy (half of its debt was forgiven) and is still priced accordingly. However its true value is much higher, to reach the valuation of Marco Polo Marine it would need to rise by 100%.
PQTPQK ( Date: 18-Feb-2025 11:23) Posted:
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when is the result coming out ??
valkyrie ( Date: 18-Feb-2025 11:21) Posted:
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Incredibly undervalued it needs to rise 100% just to be on par with Marco Polo Marine. Once it delivers results in a few days the same thing that happened in August will occur,the second leg up. You&rsquo d better anticipate it because this is essentially a catch up trade with good management.
valkyrie ( Date: 02-Jan-2025 11:26) Posted:
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Are you aware that the stock would need to go up another 100% just to match the same valuation as Marco Polo which is considered undervalued?
To begin with, it should have never dropped the way it did when it fell from $0.40, some creditors simply wanted out when it got relisted. The current price is just 10 cents above the listing price from when the company negotiated with creditors many years ago during a period when the entire marine sector was depressed
To begin with, it should have never dropped the way it did when it fell from $0.40, some creditors simply wanted out when it got relisted. The current price is just 10 cents above the listing price from when the company negotiated with creditors many years ago during a period when the entire marine sector was depressed
superstartup ( Date: 11-Feb-2025 11:50) Posted:
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Not greedy. Had started selling off my long term holdings, albeit in batches. Enjoyed a nice run from 15+ . Good luck guys.
cheong !!!
superstartup ( Date: 09-Feb-2025 20:44) Posted:
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Datuk and gang pushing hard on this counter
Another new article write-up out
SGX Listed :
Pure OSV players - Nam Cheong, Vallianz
Part OSV player - Marco Polo
Another new article write-up out
SGX Listed :
Pure OSV players - Nam Cheong, Vallianz
Part OSV player - Marco Polo
0.49 now
superstartup ( Date: 07-Feb-2025 14:46) Posted:
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The 2 pure OSV companies moving
But please perform your own DD
superstartup ( Date: 07-Feb-2025 11:11) Posted:
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No new news.
But hopefully with 4 Qs of stable earnings from operations, there is a re-rating of the counter.
Now trading at PE 3+ only.
Our Analysts usually like to wait for few quarters of stable earnings before re-initiate coverage of the company.
FY result end of the month.
But hopefully with 4 Qs of stable earnings from operations, there is a re-rating of the counter.
Now trading at PE 3+ only.
Our Analysts usually like to wait for few quarters of stable earnings before re-initiate coverage of the company.
FY result end of the month.
PQTPQK ( Date: 07-Feb-2025 10:53) Posted:
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any good news? seem like going break high ....?
superstartup ( Date: 07-Feb-2025 10:51) Posted:
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