PEC

(28-08-2015, 10:08 AM)value:search Wrote:

(27-08-2015, 11:17 PM)Nebula Wrote: Decent set of earnings considering the oil & gas sector slump.
nice dividend of 2 cents with a current share price of $0.33, yielding a nice 6%.

http://infopub.sgx.com/FileOpen/Q4FY2015...eID=367453

record orderbook of more than $450 mill also helps ease the mind amid this chaos.

<vested>

Now, PEC is trading around the value of its cash component minus debt and dividend. 
Vested. Will accumulate more if downwards pressure continues. 
Just treat it as "FD" while waiting for the O&G storm to clear.
Once the oil price starting to normalize around $30+ bbl, likely to see earning to stabilize. 
Looking at the balance sheet, likelihood to maintain the $0.02 dividend for next two years.

Yes does seem very attractive. However from cash flow statement cash eq has jumped up up 30+ million due mainly to
1) Decrease in contracts-in-progress, 42,657m
2) (Increase) in trade and other receivables, and prepayments(50,227m)
3) Increase in trade and other payables and accruals, and provision 26,347m

which are all in opposite direction of last year's cash flow.

checking under assets, trade receivables is increase much more than trade payables.

So despite the order book being there, cash flow wise, cash mainly seems to be coming into the company not from increasing profits from operations, but from a big decrease in contracts in progress(previous contracts being completed). Looks like business is ramping down rather than ramping up. Though it is good to see company is still profitable this year

Order book projects can also be delayed and cancelled should the oil market worsen.

guess its ok to start accumulating  now, but for me the dividend yield is still not attractive enough in the case that we may have to hold this counter if there is no improvement in business for next few years.

PEC'c client going into receivership.

http://infopub.sgx.com/Apps?A=COW_CorpAn...cfdce59766

The Board of Directors (the “Board”) of PEC Ltd. (the “Company”, together with its subsidiaries and
associated companies, the “Group”) refers to the article entitled “Jurong Aromatics in receivership as
talks to restructure debt stall” published by The Business Times on 30 September 2015 and the
media release dated 28 December 2012 issued by the Company, each in relation to Jurong Aromatics
Corporation Pte Ltd (“JAC”).

JAC is an existing client of the Group for which the Group has been providing, inter alia, integrated
engineering and maintenance services.

The Board is currently assessing the impact of JAC going into receivership on the Group and will
update the shareholders of the Company in due course.

Shareholders and investors are advised to exercise caution when dealing in the shares of the
Company. Persons who are in doubt as to the action they should take should consult their
stockbroker, bank manager, solicitor, accountant or other professional advisers.

The Company will, in compliance with applicable rules (including the Corporate Disclosure Policy of
the Listing Manual of the Singapore Exchange Securities Trading Limited), make further
announcements as appropriate.

Am not sure how much the impact will be on the results.

Was monitoring to check whether to enter.

Saw the 6% dive in shares today and wanted to buy, but stopped after reading this.

The profit warning from the company...

PEC issues net loss warning for FY15

SINGAPORE (Oct 7): PEC, the plant and terminal engineering specialist, has warned that the group may report a net loss for FY2015 if it is forced to make provisions for doubtful debts.

On Oct 1, PEC announced that Jurong Aromatics Corporation, an existing client of the group, has been put into receivership.
As at 30 June 2015, PEC says JAC still owes the group $19 million for the provision of engineering services.

The group says it is currently in discussions with the receivers of JAC with regard to the payment.

PEC closed 1.3% higher at 39 cents.
http://www.theedgemarkets.com/sg/article...rning-fy15

One customer account, has reversed the profitability of the company...

PEC sinks into the red on JAC debt impairment, halves dividend

SINGAPORE (Oct 12): Specialist engineering group PEC has sunk into the red for the 2015 financial year, dragged down by the impairment of a $19 million debt due from Jurong Aromatic Corporation (JAC).

While PEC had earlier recorded a net profit of $9.3 million in its unaudited financial statements, its audited results showed that it made a net loss of $4.7 million.

The firm's board has halved its proposed final tax-exempt cash dividend for FY2015 from two cents to one cent per share.

The stock closed 2.8% higher at 37.5 cents.
http://www.theedgemarkets.com/sg/article...s-dividend

I think someone entered wrong price for PEC and cause the share price to shoot up by 26%.

Sent from my SM-N9005 using Tapatalk

well
0.475 and 0.49?

possible?

Maiden share buyback to date, from 13/11/2015 mandate date, is done today : 47,500 shares @SGD 0.38.

(21-12-2015, 10:04 PM)cyclone Wrote: Maiden share buyback to date, from 13/11/2015 mandate date, is done today : 47,500 shares @SGD 0.38.

Hello Cyclone,any idea what was their IPO price please ? Much Thanks !!!

PEC IPO at price of 40 cents in August 2009

more share buyback at 39c today looks like they are just stocking up for ESOS since already no money to give dividend still got money to do share buyback.

What nonsense the management.