Posts: 3,945
Threads: 5
Joined: Mar 2011
Reputation:
14
(25-03-2020, 11:02 AM)jaco Wrote: Boustead Singapore started a new business group Healthcare Technology with the acquisition of WhiteRock in june 2018. So the strategic direction is there, but it seems to lack execution. My guess is that there were not many healthcare related take-over targets for a reasonable purchase price these last two years. These type of companies were not exactly cheap on the stock market either in this period. Let's see if Boustead can take advantage of the recent turn-down in stock prices.
(10-04-2020, 06:46 PM)Bibi Wrote: (10-04-2020, 11:57 AM)ksir Wrote: Hope they are not going to Kingsmen route! (Huge gap of misalignment between minority and controlling shareholders).
It’s actually another case in point of the constraint of deep value investment.
It’s perhaps what would happen to Bershire if Buffett sticked to his Graham method and keep looking ONLY for deep value buy.
Sent from my iPad using Tapatalk This I am not so worry. I have confidence WFF is shareholder friendly. Just a gut feel.
I fully agree. Once BP's value is enhanced via some REITS listing or some similar form etc, Boustead's shareholders will be very handsomely rewarded. Just need to be a bit more patient.
[I am not here to promote any stocks. Please always do your own research before embarking on any investment decision. I will not be liable for any of your own decisions. Your use of any information or materials is entirely at your own risk. It is your responsibility to ensure that any products, services or information meet your specific requirements. I do not produce material which meets the objectives of any specific financial and risk profile of investors.]
Posts: 3,945
Threads: 5
Joined: Mar 2011
Reputation:
14
Possible for another shark investor buy out Boustead on the cheap ?
e.g. Pay only 80 cents and get the following?
1. Net cash of 40 cents
2. Investment security (10 cents)
3. BP with RNAV close to $2 dollars.
4. geo spatial and health care segments => essential services
5. engineering arm
[I am not here to promote any stocks. Please always do your own research before embarking on any investment decision. I will not be liable for any of your own decisions. Your use of any information or materials is entirely at your own risk. It is your responsibility to ensure that any products, services or information meet your specific requirements. I do not produce material which meets the objectives of any specific financial and risk profile of investors.]
Posts: 3,945
Threads: 5
Joined: Mar 2011
Reputation:
14
Looks like Boustead’s EPS would likely be strongly boosted by government wage support scheme.
74.15 mil (last year wage cost) x 2 months/12 months x 75% = ~ $9.3 mil or ~ 2 cents EPS!!
Sent from my iPhone using Tapatalk Pro
[I am not here to promote any stocks. Please always do your own research before embarking on any investment decision. I will not be liable for any of your own decisions. Your use of any information or materials is entirely at your own risk. It is your responsibility to ensure that any products, services or information meet your specific requirements. I do not produce material which meets the objectives of any specific financial and risk profile of investors.]
Posts: 598
Threads: 4
Joined: Oct 2010
Reputation:
15
18-04-2020, 07:36 AM
(This post was last modified: 18-04-2020, 07:39 AM by Ben.)
(17-04-2020, 10:49 PM)Curiousparty Wrote: 74.15 mil (last year wage cost) x 2 months/12 months x 75% = ~ $9.3 mil or ~ 2 cents EPS!!
Sent from my iPhone using Tapatalk Pro This calculation is incorrect! JSS co-fund wages for the first $4600 gross monthly wages for each LOCAL employee only. And 75% relief is only for the month of Apr, based on Oct 2019 wages. The rest of the months, the relief is either 25%/50%/75%, depending on the industry the company is in. More likely, Boustead can qualify for 25% relief, which nonetheless is still substantial.
And what is 2 months/12 months?
https://www.iras.gov.sg/irashome/Schemes...eme--JSS-/
Posts: 3,945
Threads: 5
Joined: Mar 2011
Reputation:
14
18-04-2020, 10:38 AM
(This post was last modified: 18-04-2020, 10:40 AM by Curiousparty.)
(18-04-2020, 07:36 AM)Ben Wrote: (17-04-2020, 10:49 PM)Curiousparty Wrote: 74.15 mil (last year wage cost) x 2 months/12 months x 75% = ~ $9.3 mil or ~ 2 cents EPS!!
Sent from my iPhone using Tapatalk Pro This calculation is incorrect! JSS co-fund wages for the first $4600 gross monthly wages for each LOCAL employee only. And 75% relief is only for the month of Apr, based on Oct 2019 wages. The rest of the months, the relief is either 25%/50%/75%, depending on the industry the company is in. More likely, Boustead can qualify for 25% relief, which nonetheless is still substantial.
And what is 2 months/12 months?
https://www.iras.gov.sg/irashome/Schemes...eme--JSS-/
75% - April
25% for remaining 5 months = 125% (from May to Sept)
overall = 200% or 2 months worth of wage support
2/12 = proportion of wage in one year supported by govt.
75% = discount factor to account for the fact that some staff are not local or PR; or have salaries higher than $4600.
if need be, just need to apply further discount factor. But the figure is roughly there.
Mr Market has yet to take note that, actually for sectors not adversely impacted by COVID19, the govt subsidies would go straight into the net profit of these companies or aka free windfall from GOVT!!!
[I am not here to promote any stocks. Please always do your own research before embarking on any investment decision. I will not be liable for any of your own decisions. Your use of any information or materials is entirely at your own risk. It is your responsibility to ensure that any products, services or information meet your specific requirements. I do not produce material which meets the objectives of any specific financial and risk profile of investors.]
Posts: 3,727
Threads: 6
Joined: Oct 2012
Reputation:
95
20-04-2020, 04:19 PM
(This post was last modified: 20-04-2020, 04:25 PM by specuvestor.)
(18-04-2020, 10:38 AM)Curiousparty Wrote: (18-04-2020, 07:36 AM)Ben Wrote: (17-04-2020, 10:49 PM)Curiousparty Wrote: 74.15 mil (last year wage cost) x 2 months/12 months x 75% = ~ $9.3 mil or ~ 2 cents EPS!!
Sent from my iPhone using Tapatalk Pro This calculation is incorrect! JSS co-fund wages for the first $4600 gross monthly wages for each LOCAL employee only. And 75% relief is only for the month of Apr, based on Oct 2019 wages. The rest of the months, the relief is either 25%/50%/75%, depending on the industry the company is in. More likely, Boustead can qualify for 25% relief, which nonetheless is still substantial.
And what is 2 months/12 months?
https://www.iras.gov.sg/irashome/Schemes...eme--JSS-/
75% - April
25% for remaining 5 months = 125% (from May to Sept)
overall =200% or 2 months worth of wage support
2/12 = proportion of wage in one year supported by govt.
75% = discount factor to account for the fact that some staff are not local or PR; or have salaries higher than $4600.
if need be, just need to apply further discount factor. But the figure is roughly there.
Mr Market has yet to take note that, actually for sectors not adversely impacted by COVID19, the govt subsidies would go straight into the net profit of these companies or aka free windfall from GOVT!!!
To be precise, it’s 25% of Oct-Dec 2019 pay, 25% of Feb, Mar, May-Jul 2020 pay and 75% of April 2020 pay so total should be 2.75 months of annual salary capped at $4600 per month.
So probably back of envelope 2.75 /13 months of $74.15 (ref CuriousParty) which is $15.7m which is likely overstated as probably more than 20% of employees make more than $4600
Before you speak, listen. Before you write, think. Before you spend, earn. Before you invest, investigate. Before you criticize, wait. Before you pray, forgive. Before you quit, try. Before you retire, save. Before you die, give. –William A. Ward
Think Asset-Business-Structure (ABS)
Posts: 3,945
Threads: 5
Joined: Mar 2011
Reputation:
14
(20-04-2020, 04:19 PM)specuvestor Wrote: (18-04-2020, 10:38 AM)Curiousparty Wrote: (18-04-2020, 07:36 AM)Ben Wrote: (17-04-2020, 10:49 PM)Curiousparty Wrote: 74.15 mil (last year wage cost) x 2 months/12 months x 75% = ~ $9.3 mil or ~ 2 cents EPS!!
Sent from my iPhone using Tapatalk Pro This calculation is incorrect! JSS co-fund wages for the first $4600 gross monthly wages for each LOCAL employee only. And 75% relief is only for the month of Apr, based on Oct 2019 wages. The rest of the months, the relief is either 25%/50%/75%, depending on the industry the company is in. More likely, Boustead can qualify for 25% relief, which nonetheless is still substantial.
And what is 2 months/12 months?
https://www.iras.gov.sg/irashome/Schemes...eme--JSS-/
75% - April
25% for remaining 5 months = 125% (from May to Sept)
overall =200% or 2 months worth of wage support
2/12 = proportion of wage in one year supported by govt.
75% = discount factor to account for the fact that some staff are not local or PR; or have salaries higher than $4600.
if need be, just need to apply further discount factor. But the figure is roughly there.
Mr Market has yet to take note that, actually for sectors not adversely impacted by COVID19, the govt subsidies would go straight into the net profit of these companies or aka free windfall from GOVT!!!
To be precise, it’s 25% of Oct-Dec 2019 pay, 25% of Feb, Mar, May-Jul 2020 pay and 75% of April 2020 pay so total should be 2.75 months of annual salary capped at $4600 per month.
So probably back of envelope 2.75 /13 months of $74.15 (ref CuriousParty) which is $15.7m which is likely overstated as probably more than 20% of employees make more than $4600
Need to also apply some discount factor for workers who are not Singaporeans or PRs.
Give and take , we are probably looking at about 1 to 1.5 cents boost to overall year EPS .
Sent from my iPhone using Tapatalk Pro
[I am not here to promote any stocks. Please always do your own research before embarking on any investment decision. I will not be liable for any of your own decisions. Your use of any information or materials is entirely at your own risk. It is your responsibility to ensure that any products, services or information meet your specific requirements. I do not produce material which meets the objectives of any specific financial and risk profile of investors.]
Posts: 3,945
Threads: 5
Joined: Mar 2011
Reputation:
14
Very strong set of results despite the pandemic . Net cash level close to $0.50 ... dividend is maintained ....
Book order still at record high !!!
Energy segment profits had increased a lot , moderated by the weakening BP segment ...
Sent from my iPhone using Tapatalk Pro
[I am not here to promote any stocks. Please always do your own research before embarking on any investment decision. I will not be liable for any of your own decisions. Your use of any information or materials is entirely at your own risk. It is your responsibility to ensure that any products, services or information meet your specific requirements. I do not produce material which meets the objectives of any specific financial and risk profile of investors.]
Posts: 691
Threads: 9
Joined: Oct 2011
Reputation:
17
The financial year ends March, which is before the escalation of the foreign worker dormitory cases. Likewise, Malaysia has not gone into lock down yet. So the full impact of that is not reflected.
Book order will be at a record high since their 2 large contracts are being recognized over this and next year.
Given where the economy is, I don't think they can get new tenants for some of their industrial project developments. Perhaps, they might see some additional revenue from Esri geo-spatial mapping.
"Criticism is the fertilizer of learning." - Sir John Templeton
Posts: 3,945
Threads: 5
Joined: Mar 2011
Reputation:
14
All segments of Boustead are up except BP. Once BP has recovered and launched the reits , Boustead will take off ...
In fact , share price of BP recovered quite a bit despite the gloomy outlook and reduction in dividends . Other overseas projects should be contributing for the Design and Build segments . As for leasing , not to worry too much ...
Sent from my iPhone using Tapatalk Pro
[I am not here to promote any stocks. Please always do your own research before embarking on any investment decision. I will not be liable for any of your own decisions. Your use of any information or materials is entirely at your own risk. It is your responsibility to ensure that any products, services or information meet your specific requirements. I do not produce material which meets the objectives of any specific financial and risk profile of investors.]
|
Homepage
PR Newswire
