Asia Enterprise Holdings

(21-04-2016, 12:16 PM)slowandsteady Wrote: Any buddies with some insights from AGM to share? Someone scooped up 167,200 shares right after the meeting - highest level since 1 March.

It's pretty good value now, free of charge basically though business is pretty bad. But of course have to bunker down for upturn who knows when

At least it won't crash much anymore now trading below cash value. Unlike hupsteel which has really crashed last year despite all the hoohah about its undervalued properties.
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(21-04-2016, 12:27 PM)BlueKelah Wrote:

(21-04-2016, 12:16 PM)slowandsteady Wrote: Any buddies with some insights from AGM to share? Someone scooped up 167,200 shares right after the meeting - highest level since 1 March.

It's pretty good value now, free of charge basically though business is pretty bad. But of course have to bunker down for upturn who knows when

At least it won't crash much anymore now trading below cash value. Unlike hupsteel which has really crashed last year despite all the hoohah about its undervalued properties.
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Seems to be a major upturn in steel prices recently as well:

China: http://www.bloomberg.com/news/articles/2...apid-shift
India: http://economictimes.indiatimes.com/indu...912300.cms
USA: http://www.thestreet.com/story/13536586/...surge.html

Wonder if the huge write off on inventories last year was overly conservative - something in the range of 40% from total inventories. Maybe can even sell as scrap and book profits now 

Well u would have to get the records from 1997/1998 or 2008 to 2009 to find out, pretty sure they had to write down back then. And then see if they reversed the writedown or sold as scrap.

I reckon the inventories sitting in their warehouse gathering dust but hopefully not gathering rust. Lol...

Unfortunately aeh is not volatile stock so probably won't track short term changes in steel price or shipping markets.

Value wise it's a lot of net net nets
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(21-04-2016, 12:16 PM)slowandsteady Wrote: Any buddies with some insights from AGM to share? Someone scooped up 167,200 shares right after the meeting - highest level since 1 March.

How did you find this out?

(21-04-2016, 09:58 PM)beau Wrote:

(21-04-2016, 12:16 PM)slowandsteady Wrote: Any buddies with some insights from AGM to share? Someone scooped up 167,200 shares right after the meeting - highest level since 1 March.

How did you find this out?

You can see the transaction history yesterday. AGM and EGM (share buyback) scheduled at 10 and 11am respectively.

(22-04-2016, 11:19 AM)slowandsteady Wrote:

(21-04-2016, 09:58 PM)beau Wrote:

(21-04-2016, 12:16 PM)slowandsteady Wrote: Any buddies with some insights from AGM to share? Someone scooped up 167,200 shares right after the meeting - highest level since 1 March.

How did you find this out?

You can see the transaction history yesterday. AGM and EGM (share buyback) scheduled at 10 and 11am respectively.

Thank you. I must have completely missed the news. This is fantastic. Some posts back I was questioning why they aren't doing share buybacks, and this news gets out. Maybe the directors are secretly reading this thread haha.

(17-03-2016, 08:05 PM)beau Wrote: At the current price of 17 cents, they are trading at 0.88x net cash. This is a business that has 55 years of longevity in Singapore. I'm surprised they're not yet doing any buybacks at the current price.

Have to say again, I'm not a fan of SBB, especially when div was cut. Disappointed really...

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(22-04-2016, 01:02 PM)BlueKelah Wrote: Have to say again, I'm not a fan of SBB, especially when div was cut. Disappointed really...

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Agree- I rather take div any day over sbb.

Though it's an interesting scenario where AEH can now increase their net cash per share with each share repurchased (opposite from usual sbb which reduces cash/share).

My guess is that management want to give this a try first, but may not be able to achieve much cos it's too thinly traded. Coming in as a net buyer now will spike the price and this scenario will no longer be valid. Another interesting piece of info is they have never asked for SBB mandate before, quite unusual.

Interesting. I truly don't believe that AEH would buy back shares if they didn't think their company was grossly undervalued. This combined with the recent reported news of steel prices surging, could it be just coincidence that they are doing a buy back at the same time?

The market is pricing future write downs reflected in the current discount to Net Cash but I think the market should be doing the opposite at this time. Inventories will be written up to reflect the steel prices.

slowandsteady - I think change in price is a function of volume. I'm not too worried about the volume issue when there are buybacks.

(22-04-2016, 01:49 PM)slowandsteady Wrote:

(22-04-2016, 01:02 PM)BlueKelah Wrote: Have to say again, I'm not a fan of SBB, especially when div was cut. Disappointed really...

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Agree- I rather take div any day over sbb.

Though it's an interesting scenario where AEH can now increase their net cash per share with each share repurchased (opposite from usual sbb which reduces cash/share).

My guess is that management want to give this a try first, but may not be able to achieve much cos it's too thinly traded. Coming in as a net buyer now will spike the price and this scenario will no longer be valid. Another interesting piece of info is they have never asked for SBB mandate before, quite unusual.

Could be mgt just want to use SBB to keep the share price above 20cents for the listing criteria so they dun have to consolidate and make the stock even more illiquid.

Just have to wait and see what happens.