Post Reply
61-76 of 76
Union Gas Holdings
Between Jul 11 and 12, Union Gas Holdings : 1F2 +19.48% executive director and CEO Teo Hark Piang acquired 97,500 shares of the mainboard-listed and established provider of fuel products for a consideration of S$35,253.
At an average price of S$0.362 cents per share, this took Teo&rsquo s direct interest from 8.02 per cent to 8.05 per cent.
Teo has more than 17 years of experience in the manufacture of gas, the distribution of gaseous fuels through mains and the general wholesale trade and retail sales to households in Singapore.
Before taking over the role of CEO in April 2019, he was the group&rsquo s director of sales (commercial and industrial) responsible for overseeing the marketing strategies of the commercial and industrial segments.
He was also an executive director of Union Energy Corporation between 2003 and 2018, where he now remains a non-executive director.
With over 40 years of operating track record, Union Gas Holdings&rsquo three key businesses comprise liquefied petroleum gas (LPG), natural gas, and diesel.
In April 2023, Teo maintained that business prospects remained strong because of the essential nature of the group&rsquo s business, evidenced by the record revenue achieved in FY22 (ended Dec 31). The FY22 total revenue of S$134.8 million increased 9.6 per cent from S$123.0 million in FY21 driven by revenue growth across all three business segments.
In FY22, the natural gas segment saw the greatest revenue growth to S$3.9 million, from S$2.3 million in FY21. The segment comprises a 24-hour fuel station under the Cnergy brand at 50 Old Toh Tuck Road, where it produces, sells, and distributes compressed natural gas primarily to natural-gas vehicles and industrial customers for their commercial use.
The station has 14 compressed natural-gas dispensers with two nozzles each and is open to the public. In 2020, the group diversified into the supply of piped natural gas and liquefied natural gas to customers in the services and manufacturing sectors.
LPG is the largest revenue generator of the group, contributing about 80 per cent of total sales annually, and comprised S$105.6 million of the S$134.8 million total revenue. The group&rsquo s LPG operations span across the entire value chain, making it one of the largest LPG players in Singapore.
Besides supplying LPG cylinders to domestic households, Union Gas&rsquo LPG business extends to the commercial and industrial segment, including the provision of LPG and LPG-related services and accessories to hawker centres, coffee shops, eating houses, commercial central kitchens, and industrial customers.
In addition, Union Gas is involved in the sale of LPG-related accessories, to mainly domestic households in Singapore, and the group owns one of the largest delivery fleets in Singapore with more than 200 vehicles to support islandwide distribution.
Teo also maintains that control over the LPG supply chain enhances the group&rsquo s ability to withstand and overcome economic cyclicalities and, like most businesses, the group is concerned about rising cost of operations, which they remain vigilant about, and have taken steps to streamline its corporate structure.
On Jan 1, 2023, the group amalgamated two of its wholly owned subsidiaries, U-Gas and Union LPG, with the latter as the surviving amalgamated entity. The merger of the two subsidiaries forms part of the group&rsquo s strategy to streamline its organisational structure for better overall management control and efficiency in the current high-cost environment.
As a result of higher direct material costs, Union Gas Holding&rsquo s gross profit declined 15.4 per cent to $35.21 million, from FY21, due to a 22.3 per cent increase in cost of sales to $99.59 million in FY22.
In a response to a shareholder question ahead of the April 2023 annual general meeting, Teo relayed that international energy prices were volatile in FY22 due to the prolonged conflict in Eastern Europe as well as worldwide demand and supply dynamics, stating this was the main contributor to high material costs.
The group is expected to report its first-half FY23 financials in mid-August.
Union Gas Holdings&rsquo Teo Hark Piang ups stake to 8.05%
FOR the five trading sessions that spanned Jul 7 to Jul 13, the Straits Times Index (STI) rallied 2.8 per cent, while the Hang Seng Index gained 2.0 per cent and the FTSE Bursa Malaysia KLCI remained unchanged.
Institutions were net buyers of Singapore stocks over the five sessions with S$67 million of net inflow. Seatrium : S51 +0.69%, Wilmar International : F34 +0.26%, Singapore Airlines (SIA) : C6L 0%, UOL Group : U14 +0.15% and DBS Group : D05 +0.38% led the net institutional inflow for the five sessions.
Meanwhile, UOB : U11 +0.11%, OCBC : O39 +0.16%, Sembcorp Industries : U96 -1.12%, Mapletree Pan Asia Commercial Trust : N2IU 0% and Suntec Reit : T82U 0% led the institutional outflow over the five sessions.
After the trio of banks, Singtel : Z74 +1.18%, SIA and Seatrium have ranked as the most traded Singapore stocks this year by turnover.
While Singtel has booked S$200 million in net institutional outflow in the year through to Jul 13, SIA and Seatrium have booked a combined S$259 million in net institutional inflow.
On the new Thailand blue-chip Singapore Depository Receipts (SDR) front, both Airports of Thailand and CP All SDR attracted net buying interest from individual investors for the second consecutive week in July, with most inflows to Airports of Thailand as investors accumulated on a price decline spanning Jul 7 to 13.
As reported by The Business Times on Jun 28, the World Bank raised Thailand&rsquo s 2023 growth outlook from 3.6 per cent to 3.9 per cent, supported by private consumption growth and recovery in tourism. Airports of Thailand is a direct beneficiary of the pickup in tourism while CP All, the exclusive operator of 7-Elevens and supermarkets in Thailand, maintains significant exposure to domestic consumption.
PTT Exploration & Production, Asean&rsquo s largest listed exploration and production petroleum company, lodged the strongest gains of the SDR trio over the week.
PTT Exploration & Production saw a 3.6 per cent gain over the five sessions to Jul 13, taking the month-to-Jul-13 gain to 5.1 per cent.
Share buybacks
There were 13 primary-listed companies conducting share buybacks over the five trading sessions through to Jul 13 with a total consideration of S$10 million, following the S$12.8 million in combined consideration for the preceding week.
UOB again led the buyback consideration tally, buying back 288,000 shares at an average price of S$27.39 per share.
Director and substantial shareholder transactions
The five trading sessions saw less than 70 changes to director interests and substantial shareholdings filed for around 30 primary-listed stocks.
This included 12 company director acquisitions with one disposal filed, while substantial shareholders filed 10 acquisitions and nine disposals.
Ended the week at $0.46.
CEO only bought relatively little shares (3000 and 19000) when prices were good on 11July2023 and 12July2023 and the price went all the way up. There were 626,300 shares changing hands on Friday (14July2023).
I think price would dip on Mon and Tue when it is time to settle contra orders.
CEO only bought relatively little shares (3000 and 19000) when prices were good on 11July2023 and 12July2023 and the price went all the way up. There were 626,300 shares changing hands on Friday (14July2023).
I think price would dip on Mon and Tue when it is time to settle contra orders.
Beyond expectation haha
SmallSmall ( Date: 14-Jul-2023 16:13) Posted:
|
kena SGX query liao ( https://links.sgx.com/1.0.0/corporate-announcements/H7BICUCRELQ0G361/f0022d424ad2dbc122ea98bc0be9ccc0cf5d9c7c0b9624af66950dd8ef5ff36f ) .
$0.405 now....
someone playing up this counter again...? hope to see 50-60c in near term
Upward trajectory continues..... $0.39.
If can clear $0.40 convincingly would be good.
High goes higher :)
If can clear $0.40 convincingly would be good.
High goes higher :)
SmallSmall ( Date: 13-Jul-2023 09:56) Posted:
|
Insider Teo Hark Piang (CEO) starting to buy again.
3K @$0.345
19K @ $$0.365
6K @ $0.37
29.5K @ $0.375
Start of a new rally back to the 60s !
3K @$0.345
19K @ $$0.365
6K @ $0.37
29.5K @ $0.375
Start of a new rally back to the 60s !
FY2022 results press release
https://links.sgx.com/1.0.0/corporate-announcements/YFSGZDII6XXWTQVY/748065_UGH-Press%20Release.pdf
https://links.sgx.com/1.0.0/corporate-announcements/YFSGZDII6XXWTQVY/748065_UGH-Press%20Release.pdf
DBS initiates &lsquo hold&rsquo on Union Gas, optimistic on growth post-acquisition
DBS on Monday (Dec 5) initiated coverage on Union Gas with a &ldquo hold&rdquo call and a target price of S$0.48 on higher-than-expected margins and dividends.
The electrical retailer&rsquo s position as a market leader post-acquiring its substantial shareholder&rsquo s liquefied petroleum gas (LPG) distribution, bottling and storage businesses for S$75 million in August last year put the company in a good position for growth, said DBS analysts.
They further noted that the group was able to make a &ldquo strategic pivot into the commercial space&rdquo following the acquisition, which differentiated the company as one of the largest LPG players in the space, backed by a vertically integrated business model.
DBS forecast a revenue compound annual growth rate of 8 per cent for 2022 to 2024, driven by volume expansion and higher average selling prices amid increased fuel costs.
&ldquo Additionally, Union&rsquo s strong balance sheet could also drive inorganic growth,&rdquo said DBS.
In the near team, headwinds such as higher propane prices and a stronger US dollar exerted pressure on the company&rsquo s margins. This risk, however, appeared to have been priced in by the market.
Over the past year, Union&rsquo s share price corrected from its peak forward price-to-earnings (PE) ratio of more than 50 times to an estimated PE ratio of 22.7 times, which is below its four-year historical average of 24.4 times.
Analysts said in the second half of 2022, cooling oil or propane prices could provide some relief to such pressures.
Therefore, they predicted a target price of S$0.48, based on a forward PE ratio of 24 times in FY2023.
Union Gas reports higher revenue but lower earnings as it held down selling prices to retain and gain market share
Union Gas has reported revenue of $68.3 million for 1HFY2022, up 11.6%, due to higher prices.
However, the company says it did not pass on higher costs incurred to its customers in a bid to retain customers and gain market share.
As such, earnings for the same period was down 83% y-o-y to $2.4 million.
&ldquo The operating environment has become very challenging amidst rising costs and recessionary concerns,&rdquo says executive director and CEO Teo Hark Piang.
&ldquo Despite higher fuel prices, we chose not to pass on the full increase in costs to our customers but kept prices at a level that was sustainable for both sides.
&ldquo This affected our profitability in 1H2022, but it presented an opportunity for us to gain market share and retain customers. We are also mindful that from a longer-term perspective, our customers&rsquo performance will ultimately have an impact on us and therefore it is in our interest to offer them some support,&rdquo says Teo.
The company plans to pay an interim dividend of 0.2 cent per share, equivalent to a payout ratio of 26% of its 1HFY2022 earnings.
The company is optimistic that its industry prospects remain positive due to the essential nature of its business as well as the potential to further exploit opportunities within the LPG supply chain of which it has full control ranging from procurement to retailing.
The company says remains on the lookout for further diversification and strategic opportunities to expand into complementary businesses both locally and overseas.
Union Gas achieves revenue growth of 11.6% to
S$68.3 million in 1H2022
https://links.sgx.com/1.0.0/corporate-announcements/4V9U7U8Z5FHONKP2/728481_Union_Gas_PR_HY2022.pdf
S$68.3 million in 1H2022
- Topline improvement driven by higher revenue achieved by all three business segments and new contribution from its new piped natural gas business.
- Declares interim dividend of 0.20 Singapore cent per share, which represents 26% of net profit for 1H2022.
| Financial Highlights (S$ Million) |
6 months ended 30 Jun | ||
| 1H2022 | 1H2021 (Restated) | Change (%) | |
| Total Revenue | 68.3 | 61.2 | 11.6 |
| Gross Profit | 17.8 | 25.0 | (29.0) |
| Net profit | 2.4 | 14.4 c | (83.0) |
| Earnings Per Share (&ldquo EPS&rdquo ) (Singapore cents) a | 0.77 | 4.59 | (83.2) |
| Net Asset Value (&ldquo NAV&rdquo ) per share (Singapore cents) b | 18.41 (as at 30 Jun 2022) |
17.64 (as at 31 Dec 2021) |
4.4 |
- EPS is calculated based on 317,618,000 and 313,051,000 weighted average number of ordinary shares in issue in 1H2022 and 1H2021 (Restated) respectively.
- NAV is calculated based on 317,618,000 ordinary shares in issue as at both 30 June 2022 and 31 December 2021.
- Excluding one-off gains from the disposal of a subsidiary, an insurance compensation and pay-outs from the Singapore government&rsquo s Jobs Support Scheme, the Group&rsquo s net profit in 1H2021 would have been S$5.6 million........
https://links.sgx.com/1.0.0/corporate-announcements/4V9U7U8Z5FHONKP2/728481_Union_Gas_PR_HY2022.pdf
Union Gas grants further extension for maturity date of ADERA AI bonds as latter seeks listing
UNION Gas Holdings has agreed to further extend the maturity date for S$1 million worth of convertible bonds issued by ADERA AI, as the latter is in the process of undergoing a public offering and listing on &ldquo certain stock exchanges&rdquo .
In a bourse filing late on Friday (Jul 1), Union Gas said the maturity date of the bond has been further extended by 3 months to Sept 30, 2022, but did not indicate which exchange ADERA AI is seeking to list on.
Singapore-based ADERA AI is principally in the business of providing secure data handling services to clients in Singapore, Hong Kong, and Macau. It offers solutions for the transformation of physical documents to secured data using intelligent data capture, recognition scanning, additional validation technologies and archival services.
A wholly-owned subsidiary of Union Gas entered into the agreement last January to subscribe for the convertible bonds, which have an internal rate of return of 10 per cent per annum, and were scheduled to be redeemed 1 year after the closing date.
Union Gas announced in March this year that the maturity date had been extended to June 30, 2022, in view of the potential public offering and listing of the issuer.
If ADERA AI undergoes a public offering and listing on &ldquo certain stock exchanges&rdquo prior to the revised Sept 30 maturity date, the bonds shall be converted into shares at a 30 per cent discount to the public offering price.
bro wanna chat in the other forum? a number of us there
Someone " playing" with union gas? pump and dump? haha