Uni-asia Group (formerly: Uni-asia Finance)

Taking a read on Uni-Asia Holdings Limited, no vested interests.

http://infopub.sgx.com/FileOpen/Uni-Asia...eID=342046
http://www.uni-asia.com/

Think the CFO have clearly under-delivered judging from what he said in '12 and what happened in these 2 yrs.

Vessels owning & chartering:
unable to find any disclosure on the exact charter rates for its vessels, unable to correctly comment on future income stream
vessels directly owned by Uni Asia primarily bulk carriers and noted couple of bulk shippers making positive operating profits and real charter rates have mostly stabilised primarily the supramax classes on mid term charters.
for container vessels (box ships), Uni-Asia interests primarily thru ship trusts, are of 3,500 (x3) & 4,300 (x2) TEU panama classes which are now unfavoured by those big ocean going box shippers due to economies of scale and fuel efficiency factors.however, with falling oil and bunker prices, such ships may still find their grouds in niche markets. due to smaller size, easier for charterer to achieve full or optimal utilisation rates especially for those shippers which needs to be nimble.

at 16cts share price, approx. metrics at:

PE - 24x
Div yld - 3.88%
P/Bk - 0.4x
ROA - 2.3%
ROE - 3.9%
ROC - 2.4%
Debt to eqty - 80%
NAV approx. 29 cts (US$)
EPS approx. 0.46 cts (US$)


catalysts for growth should come from :-

1. stabilised and growth in shipping charter rates
2. better hotel occupancy rates and utilisation
3. property investments & development projects in japan & HK
4. JPY to stabilised and not weaken dramatically

Request for Trading Halt : Pending release of announcement.

(26-03-2019, 10:54 AM)cyclone Wrote: Request for Trading Halt : Pending release of announcement.

Proposed Placement of Up to 5,420,720 New Ordinary Shares

Uni-Asia Group Limited announced that the Company had on 26 March 2019 entered into a placement agreement with Maybank Kim Eng Securities Pte. Ltd (the "Placement Agent") pursuant to which the Company has agreed to issue, and the Placement Agent has agreed, on a best efforts basis, to procure subscriptions and payment for, up to 5,420,720 new ordinary shares in the capital of the Company at an issue price of S$1.08 for each Placement Share.

The Placement Price was arrived at pursuant to discussions with the Placement Agent, taking into account, among others, the prevailing market price of the Shares, and represents a discount of approximately 9.98% to the volume weighted average price of S$1.1998 per Share based on trades done on the Singapore Exchange Securities Trading Limited on 25 March 2019 (being the last full market day on which the Shares were traded prior to the time the Placement Agreement was signed).

More details in https://links.sgx.com/FileOpen/Uni-Asia%...eID=548676

Weird deal why Kim eng want to target this company

This stock float very small.

(27-03-2019, 09:12 AM)luckystar Wrote: This stock float very small.

There was a 1 to 10 stock consolidation in 2015.
That reduced the number of shares by 10 times, so it's a small float.

(26-03-2019, 08:29 PM)pianist Wrote: Weird deal why Kim eng want to target this company

hi pianist,
i am assuming u r asking why does Kim Eng wants to target this company in terms of becoming a shareholder?

If yes, then i think u might be mistaken. Kim Eng is rather acting as an agent to place shares out to other investors/traders. They are in their usual role of been the brokers, than owners.

The placement is made on $1.08, quite a substantial discount to the market price.
Against the NTA, the discount is even larger.

Does anybody know why is there a need for the company to raise fund?

I think funds for Japan property investments.

From their earnings release.

Japan’s property market remains buoyant. While expanding new ALERO projects opportunities, the
Group is also exploring new asset/construction management opportunities including hotel
redevelopment projects. A consortium led by the Group’s licensed property asset management
subsidiary in Japan, Uni-Asia Capital (Japan) (“UACJ”) was awarded the first negotiation right of a
Private Finance Initiative (“PFI”) project by Wako City, Saitama Prefecture in Japan in late December
2018. The Group hopes that such projects would raise the Group’s profile and open more doors to
more property asset management opportunities in Japan.

(28-03-2019, 08:03 AM)cmeng_chan Wrote: I think funds for Japan property investments.

From their earnings release.

Japan’s property market remains buoyant. While expanding new ALERO projects opportunities, the
Group is also exploring new asset/construction management opportunities including hotel
redevelopment projects. A consortium led by the Group’s licensed property asset management
subsidiary in Japan, Uni-Asia Capital (Japan) (“UACJ”) was awarded the first negotiation right of a
Private Finance Initiative (“PFI”) project by Wako City, Saitama Prefecture in Japan in late December
2018. The Group hopes that such projects would raise the Group’s profile and open more doors to
more property asset management opportunities in Japan.