Kingsmen Creatives

(16-05-2013, 05:31 PM)Musicwhiz Wrote:

(16-05-2013, 05:11 PM)peterlim1983 Wrote: Check b-berg function "ANR", estimates revised down, ROE 18%...

Well, that is good news isn't it! More chances to buy once everyone starts downgrading.

They say competition is increasing, and business model not holding up... not sure if that's good news...

(16-05-2013, 05:38 PM)peterlim1983 Wrote: They say competition is increasing, and business model not holding up... not sure if that's good news...

It's important to exercise some independent thinking and also to do due D in the form of speaking to executives and reading up on the Company and industry news.

Competition is always present - it's nothing new and has been discussed extensively on this thread.

As for business model not holding up, more details would be required to judge if there is indeed any permanent impairment to the value of the business.

Yesterday (16May13), AmFraser issued an update report on Kingsmen carrying a heading "Expect Stronger Quarters Ahead"......
http://www.remisiers.org/cms_images/rese...130516.pdf
, calling a 'BUY' on the counter and raising their Fair Value estimate to $1.12 (from $0.87 previously) which is pegged at 10x of their forecast FY14's full-year EPS of $0.1116.

(17-05-2013, 08:19 AM)dydx Wrote: Yesterday (16May13), AmFraser issued an update report on Kingsmen carrying a heading "Expect Stronger Quarters Ahead"......
http://www.remisiers.org/cms_images/rese...130516.pdf
, calling a 'BUY' on the counter and raising their Fair Value estimate to $1.12 (from $0.87 previously) which is pegged at 10x of their forecast FY14's full-year EPS of $0.1116.

I found what they said in the report is a little too optimistic. "We believe the orderbook outlook remains strong for the rest of 2013, with potential contracts such as F1 and Shanghai Disney to be garnered".

I mean the Shanghai Disney could be treated as a recurring project to the other Theme parks, and the F1, well, it is a recurring project. So how can that justify a "stronger pickup in the next few qtrs"?

One thing I have to agree is that biennial events contributed to higher revenues generated in 2012 than in 2013.

Personally, I think KC should do better because they are beautifying our surrounding developing countries. Big brands know that there is a growing number of wealthy people in these developing countries, and it would be good for big brands to tap on KC's expertises to help develop their brands in these developing countries. We can see this as the turnover itself from Vietnam has actually tripled within a year; Indonesia is up 20%. The numbers maybe small at the moment, but there is a huge potential in these regions.

(Vested)

Can I seek help with the experts to the following problem? Why does revenue for segment differ for certain year?

For example, in AR 2010, E&M revenue for FY10 was $105,910 but in AR 2011, E&M revenue for FY10 was $104,833?

Similarly in AR 2010, Interiors revenue for FY10 was $116,580 but in AR 2011, Interiors revenue for FY10 was $115,378.

Shouldn't the value remain constant throughout the years instead of fluctuating? Pardon me for the noob qn as I have very little knowledge in accounting. Thank you in advance.

(27-05-2013, 10:20 PM)lester Wrote: Can I seek help with the experts to the following problem? Why does revenue for segment differ for certain year?

For example, in AR 2010, E&M revenue for FY10 was $105,910 but in AR 2011, E&M revenue for FY10 was $104,833?

Similarly in AR 2010, Interiors revenue for FY10 was $116,580 but in AR 2011, Interiors revenue for FY10 was $115,378.

Shouldn't the value remain constant throughout the years instead of fluctuating? Pardon me for the noob qn as I have very little knowledge in accounting. Thank you in advance.

Of course revenue would fluctuate year over year. If you are the owner of Kingsmen Creative, do you want your revenue to increase or remain constant between years?

(27-05-2013, 10:26 PM)Some-one Wrote:

(27-05-2013, 10:20 PM)lester Wrote: Can I seek help with the experts to the following problem? Why does revenue for segment differ for certain year?

For example, in AR 2010, E&M revenue for FY10 was $105,910 but in AR 2011, E&M revenue for FY10 was $104,833?

Similarly in AR 2010, Interiors revenue for FY10 was $116,580 but in AR 2011, Interiors revenue for FY10 was $115,378.

Shouldn't the value remain constant throughout the years instead of fluctuating? Pardon me for the noob qn as I have very little knowledge in accounting. Thank you in advance.

Of course revenue would fluctuate year over year. If you are the owner of Kingsmen Creative, do you want your revenue to increase or remain constant between years?

I think he meant why the FY 2010 figure is different in AR 2010 and AR 2011.

Yup, as mentioned by Nick, why are the segment revenues for FY2010 different in AR2010 and AR2011?

(27-05-2013, 10:27 PM)Nick Wrote:

(27-05-2013, 10:26 PM)Some-one Wrote:

(27-05-2013, 10:20 PM)lester Wrote: Can I seek help with the experts to the following problem? Why does revenue for segment differ for certain year?

For example, in AR 2010, E&M revenue for FY10 was $105,910 but in AR 2011, E&M revenue for FY10 was $104,833?

Similarly in AR 2010, Interiors revenue for FY10 was $116,580 but in AR 2011, Interiors revenue for FY10 was $115,378.

Shouldn't the value remain constant throughout the years instead of fluctuating? Pardon me for the noob qn as I have very little knowledge in accounting. Thank you in advance.

Of course revenue would fluctuate year over year. If you are the owner of Kingsmen Creative, do you want your revenue to increase or remain constant between years?

I think he meant why the FY 2010 figure is different in AR 2010 and AR 2011.

(27-05-2013, 10:20 PM)lester Wrote: Can I seek help with the experts to the following problem? Why does revenue for segment differ for certain year?

For example, in AR 2010, E&M revenue for FY10 was $105,910 but in AR 2011, E&M revenue for FY10 was $104,833?

Similarly in AR 2010, Interiors revenue for FY10 was $116,580 but in AR 2011, Interiors revenue for FY10 was $115,378.

Shouldn't the value remain constant throughout the years instead of fluctuating? Pardon me for the noob qn as I have very little knowledge in accounting. Thank you in advance.

Revenue increases or decreases depending on the amount of project works completed for the fiscal year. These projects are secured yearly and many of them are not recurring. Even for a renovation work for the same store or exhibition booth, the price that is charged may differ from year to year depending on the customers' requirements.

Kingsmen is basically a high end renovation contractor and exhibition booth designer. So, if you have some ideas of the business of a renovation contractor is, you will appreciate why the revenue fluctuate.

But... this probably also applies to all kind of companies in the world. It is pretty impossible to hit the same revenue figure in consecutive years.

Possible adjustments due to adoption of accounting standards when the same figure does not agree in 2 books. Key thing for investor whether e changes are minute or not