VICOM

(10-05-2013, 06:53 AM)myleekc Wrote: Without much info available in its website & no material announcements after the full year FY12 results, what can you tell from the price weaknesses in Vicom of late?

Yoz... it looks like the cup was indeed half full.

But I really do not understand why you would term lower price as a sign of "weakness" man. Unless you were just speculating, true value investors know that lower price = bigger bargains.

Were there any other reasons why you would term it as a weakness?

With the new scheme the government has implemented, more people will be hanging on to their 2nd hand cars. Personally, I think that that is good news for Vicom.

(Vested)

I think he just meant that the share price was decreasing about 1-2% a day with higher volume of trades than usual.

The share price needs to drop by A LOT for this share to be a bargain.
(vested)

(11-05-2013, 09:23 PM)natnavi Wrote:

(10-05-2013, 06:53 AM)myleekc Wrote: Without much info available in its website & no material announcements after the full year FY12 results, what can you tell from the price weaknesses in Vicom of late?

Yoz... it looks like the cup was indeed half full.

But I really do not understand why you would term lower price as a sign of "weakness" man. Unless you were just speculating, true value investors know that lower price = bigger bargains.

Were there any other reasons why you would term it as a weakness?

With the new scheme the government has implemented, more people will be hanging on to their 2nd hand cars. Personally, I think that that is good news for Vicom.

(Vested)

VICOM reported a decent set of results last Friday (1Q 2013 results).

Some highlights:-

1) Revenue grew by +7.2% to $26m
2) Costs increased more than revenues, resulting in a +5.8% increase in operating profit to $9m.
3) Operating margin for 1Q 2013 was 34.8%, down from 35.2% for 1Q 2012. As a comparison, FY 2012 operating margin was 32.7%.
4) NPAT rose +6.5% to $7.46m. NPM was flat at 29.1% against 1Q 2012's 29.2%.
5) Annualized Return on Average Shareholder's Equity was 25.2% for 1Q 2013, down from 26.0% for 1Q 2012.
6) Balance Sheet remains debt-free, with cash and bank balances rising to another new record high of $$71.78m.
7) OCF was improved yoy to $5.79m, with capex of $0.7m, resulting in FCF of $5.877m, higher than FCF generated in 1Q 2012 of $4.34m.
8) If we annualize the FCF, we should get around $23m of FCF, more or less in line with FY 2012's $26m FCF.
9) Dividend payout ratio was around 60% for the last 3 years. Assuming a 5% increase in EPS, DPS should also rise by around 5% from last year's FY 2012 dividend of 18.2c/share. This should yield a dividend of around 19.1c/share.

Prospects look decent with more cars being kept on the road, and Setsco is expected to continue its growth despite strong competition.

Probably just one of the top 20 shareholders selling, they bought below a dollar, cash out part of it at current price in view of rising labor and operating costs, and with larger base, top line not growing as fast...

Personally, the company should change its name to Setsco instead of Vicom. More mileage from marketing perspective for Setsco. Maybe should raise this next AGM.

Yes, that was what I really meant. I did not say the Company was fundamentally weak - just the price of Vicom has weakened (fallen) from the peak of 5.13 in early Apr13 to current 4.8x

Anyway, don't think you can get any other listed company with such straight forward and strong balance sheet.

(VESTED till taken private, hahahaha!)

(12-05-2013, 08:20 AM)corporatefatcat Wrote: I think he just meant that the share price was decreasing about 1-2% a day with higher volume of trades than usual.

The share price needs to drop by A LOT for this share to be a bargain.
(vested)

(11-05-2013, 09:23 PM)natnavi Wrote:

(10-05-2013, 06:53 AM)myleekc Wrote: Without much info available in its website & no material announcements after the full year FY12 results, what can you tell from the price weaknesses in Vicom of late?

Yoz... it looks like the cup was indeed half full.

But I really do not understand why you would term lower price as a sign of "weakness" man. Unless you were just speculating, true value investors know that lower price = bigger bargains.

Were there any other reasons why you would term it as a weakness?

With the new scheme the government has implemented, more people will be hanging on to their 2nd hand cars. Personally, I think that that is good news for Vicom.

(Vested)

Just received VICOM's final and special dividend for FY 2012 amounting to 7.5c/share and 3.2c/share respectively (total = 10.7c/share). Feeling pleased that I can add to my savings!

Look forward to the upcoming interim dividend to be announced 3 months from now.

Everytime i receive dividends. It just reminds me of how time past.
Somehow 3 months and 3 months, 1Q --- > FY ---> Annual Reports --- > AGM ---> 1Q
Sooner or later all of us kick buckets.

Sigh

(13-05-2013, 04:53 PM)Salty Wrote: Everytime i receive dividends. It just reminds me of how time past.
Somehow 3 months and 3 months, 1Q --- > FY ---> Annual Reports --- > AGM ---> 1Q
Sooner or later all of us kick buckets.

Sigh

Well, on a happy note, we can have many many good meals and many happy moments with family and friends before that happens!

Waiting Waiting Waiting, price dropped but cant get any lots at last done price...Anyone selling??

Any particular reasons this is such a thinly traded stock?

Accumulating slowly even though not much margin of safety..

(13-06-2013, 05:02 PM)evolance Wrote: Waiting Waiting Waiting, price dropped but cant get any lots at last done price...Anyone selling??

Any particular reasons this is such a thinly traded stock?

Accumulating slowly even though not much margin of safety..

Remember APB? GE?... i think all the same reason more or less.