Boustead Singapore

(06-02-2013, 11:37 AM)greengiraffe Wrote: Today it has breached the $1.20 level, one that was last seen during the week ending 12 Nov 2010.

According to my historical records dating back to 2006 (when I was firs vested), Boustead has not hit $1.22 post-share split, which occured on the day of Aug 18, 2008 (split-adjusted price was $1.17). Prior to that, Boustead's all-time high was $2.50/share, translating to $1.25 in split-adjusted terms. This was reached on two days - July 11, 2008 and July 14, 2008 (Friday and Monday).

So Boustead's all-time high is actually $1.25; today's intra-day high was $1.22.

FYI.

(06-02-2013, 11:52 AM)Musicwhiz Wrote:

(06-02-2013, 11:37 AM)greengiraffe Wrote: Today it has breached the $1.20 level, one that was last seen during the week ending 12 Nov 2010.

According to my historical records dating back to 2006 (when I was firs vested), Boustead has not hit $1.22 post-share split, which occured on the day of Aug 18, 2008 (split-adjusted price was $1.17). Prior to that, Boustead's all-time high was $2.50/share, translating to $1.25 in split-adjusted terms. This was reached on two days - July 11, 2008 and July 14, 2008 (Friday and Monday).

So Boustead's all-time high is actually $1.25; today's intra-day high was $1.22.

FYI.

Hi MW,

Thanks for your confirmation. You are using daily data while I used the weekly ones.

Something could well be brewing at Boustead even though the contract secured so far are the bread and butter type.

Will continue to keep Full Faith with the team at Boustead.

GG

(06-02-2013, 11:59 AM)greengiraffe Wrote: Something could well be brewing at Boustead even though the contract secured so far are the bread and butter type.

New orders won so far had been significantly lower than last year:
Total new orders (as per investor day - 12 Dec 12): $159
Last year total new orders: $396

BP new orders (as per 28 Jan 13): $ 88
BP last year orders: $ 246
Even lower than the recent bad year (FY11): $142

Competition is getting very very tough ya?
Recent Pratt & Whitney facility in SAP also not won by them.
Supply Chain City which I was hoping that they will get involved also no news.

(06-02-2013, 12:19 PM)valuestalker Wrote: Recent Pratt & Whitney facility in SAP also not won by them.

Hi, do you know who eventually won the project? Thanks

(06-02-2013, 01:36 PM)wee Wrote:

(06-02-2013, 12:19 PM)valuestalker Wrote: Recent Pratt & Whitney facility in SAP also not won by them.

Hi, do you know who eventually won the project? Thanks

Hi, I don't know.
But since Boustead didn't announce, i guess somebody won it (probably the REIT).
Now, I guess it makes sense for Boustead to work with the REIT? (which they have started doing so).
But also means lower margin huh?

(06-02-2013, 01:53 PM)valuestalker Wrote:

(06-02-2013, 01:36 PM)wee Wrote:

(06-02-2013, 12:19 PM)valuestalker Wrote: Recent Pratt & Whitney facility in SAP also not won by them.

Hi, do you know who eventually won the project? Thanks

Hi, I don't know.
But since Boustead didn't announce, i guess somebody won it (probably the REIT).
Now, I guess it makes sense for Boustead to work with the REIT? (which they have started doing so).
But also means lower margin huh?

With the recent contract win for commercial building, they are probably looking elsewhere. SG market seem too small to be focussed on merely the industrial niche.

(06-02-2013, 01:55 PM)wee Wrote:

(06-02-2013, 01:53 PM)valuestalker Wrote:

(06-02-2013, 01:36 PM)wee Wrote:

(06-02-2013, 12:19 PM)valuestalker Wrote: Recent Pratt & Whitney facility in SAP also not won by them.

Hi, do you know who eventually won the project? Thanks

Hi, I don't know.
But since Boustead didn't announce, i guess somebody won it (probably the REIT).
Now, I guess it makes sense for Boustead to work with the REIT? (which they have started doing so).
But also means lower margin huh?

With the recent contract win for commercial building, they are probably looking elsewhere. SG market seem too small to be focussed on merely the industrial niche.

Agree that the SG market might be small, but commercial building is not something new to Boustead (ie: Starhub Green).

The change in strategy that I noticed is:
Instead of build, lease industrial estate and (in occasion) sell to REIT, now they are building for REIT.
I guess the former should have higher margin than latter.

(06-02-2013, 01:36 PM)wee Wrote:

(06-02-2013, 12:19 PM)valuestalker Wrote: Recent Pratt & Whitney facility in SAP also not won by them.

Hi, do you know who eventually won the project? Thanks

A friend of mine working in SAP mentioned Ascendas...

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(06-02-2013, 12:19 PM)valuestalker Wrote:

(06-02-2013, 11:59 AM)greengiraffe Wrote: Something could well be brewing at Boustead even though the contract secured so far are the bread and butter type.

New orders won so far had been significantly lower than last year:
Total new orders (as per investor day - 12 Dec 12): $159
Last year total new orders: $396

BP new orders (as per 28 Jan 13): $ 88
BP last year orders: $ 246
Even lower than the recent bad year (FY11): $142

Competition is getting very very tough ya?
Recent Pratt & Whitney facility in SAP also not won by them.
Supply Chain City which I was hoping that they will get involved also no news.

Supply Chain City??? What on earth is this??? Where did you get this name from???

I think it is one of their biggest local contracts so far. Explains the run-up.

BOUSTEAD SUBSIDIARY AWARDED
S$70M DESIGN-AND-BUILD CONTRACT
FOR DB SCHENKER’S INTEGRATED LOGISTICS FACILITY

http://info.sgx.com/webcoranncatth.nsf/V...A003174AA/$file/Boustead_Announcement-Boustead_Subsidiary_Awarded_SGD70M_Design-and-Build_Contract_for_DB_Schenker_Integrated_Logistics_Facility-06.02.2013.pdf?openelement

Boustead has been on a blazing trail since the start of 2013 - securing more than S$100m worth of projects.

There is no doubt that competition has heightened especially when the bigger and financially stronger REIT has also become a competitor in Boustead Project's space.

However, the recent success is also indicative that Boustead Project may have created a niche for itself in the competitive arena.

A point to note is the AIMS REIT redevelopment. The smaller REIT lacks the development capability and hence BP can fill the role as a neutral party to help in upcoming redevelopment process.

With the new population white paper, density of developments in Singapore is set to rise and hence redevelopment will increase.

Separately, with Boustead confidently unveiling the list of projects secured, it may be indicative that there are more in the pipeline since it is only logical to space out projects when the mkt conditions are tough and spacing out project announcements will help manage investors' expectations.