NSL

54th Annual General Meeting of NSL LTD. (the “Company”) will be held at Bridge Rooms 1, 2 and 3, Raffles Marina, 10 Tuas West Drive, Singapore 638404 on 16 April 2014 at 2.00 p.m.

Exciting times...

(25-03-2014, 10:00 AM)dahuai84 Wrote: 54th Annual General Meeting of NSL LTD. (the “Company”) will be held at Bridge Rooms 1, 2 and 3, Raffles Marina, 10 Tuas West Drive, Singapore 638404 on 16 April 2014 at 2.00 p.m.

Exciting times...

I believe some share holders will ask what are the plan for the the huge cash amount they have left after paying out 50 cents.

I can't attend so do update us if you go.

24th April '14 XD

26th May '14 Payable

http://infopub.sgx.com/FileOpen/Announcm...eID=291888

<vested><not a call to buy or sell>

The management will use the leftover cash and plough it back into existing businesses:

1. Grow/expand existing business by increasing market share
2. Replicate existing business to other countries
3. Acquire/setup complimentary business to expand products/services

http://infopub.sgx.com/FileOpen/PALM_Ann...eID=310910

The Proposed Transaction will generate gross cash proceeds of approximately S$49.1 million.
Based on the NSL Group’s carrying value in Lime division as of 30 June 2014, the Proposed
Transaction will result in an estimated accounting gain of S$28.2 million to NSL.

Sweet deal.....

(Vested)

what is their core biz after divestment

Still have the other three divisions and revenue as below, to me more like a holding company now.

Construction Products Division - most revenue but least profitable this half year (can consider this core ?)
Environmental Services Division
Engineering Division

Since selling off BST, earnings have almost halved. The other 3 divisions still stable and profitable but not growing much.

As per the quarterly, they are just winding up the chemicals division, I suspect as its not so profitable anymore. So less earnings but more cash coming in as they downsize. Not sure what they gonna buy with all the leftover cash. But I do suspect the big boss Ong Beng Seng is going to sell off each part slowly piece by piece whilst rewarding himself and shareholders via dividend payout since the unsuccessful attempt at delisting a few years back as the number 2 largest shareholder is not selling.

going forward, EPS will be reduced to around 8 cents a year which will not be enough to sustain the 10 cent payout they have been giving. After this sale net cash levels at today's price of 1.685 would be about 40%+ which is quite a lot. This deal also adds 7.5 cents to the company and share price has reacted accordingly. Adding 3 cents from that to the 8 cents earnings for this year means next year's dividend of $0.10 should be secure but after that yearly dividend payout could be halved to 5 cents.

However going forward, real earnings will only get lower as more parts get sold off, but asset values could be "realised" as boss always sells off stuff at a good profit. You could technically assign a 20-30% premium to current NAV because of this. May eventually end up a shell company for sale which is possibly the only way boss can "cash out". At current price there is no MOS anymore. Might be worth another "puff" when it dips back below NAV.

http://infopub.sgx.com/FileOpen/NSL%20-%...eID=387085

Possible disposal of dry mix business. Anyone knows how to gauge how much the business worth?

http://infopub.sgx.com/FileOpen/NSL_Disp...eID=427828

Another cash rich company in divestment mode....

Dry mix business will be sold for 159.8m, gain on disposal is 107.6m (28.8cts/share).

Core business left with construction arm, shell company in progress....

(V)

(21-08-2014, 05:39 PM)desmondxyz Wrote: http://infopub.sgx.com/FileOpen/PALM_Ann...eID=310910

The Proposed Transaction will generate gross cash proceeds of approximately S$49.1 million.
Based on the NSL Group’s carrying value in Lime division as of 30 June 2014, the Proposed
Transaction will result in an estimated accounting gain of S$28.2 million to NSL.

Sweet deal.....

(Vested)

I expect another jumbo dividend this year.