Boustead Singapore

(06-08-2013, 10:30 PM)stam Wrote: anyone holding Boustead with CPF fund? can we opt for scrip dividend?

Is it wise to take up scrip dividend? will it be difficult to sell later on with odd lots?

From my understanding, all class of holders -beit cash holdings, cpf holdings, srs holdings and certificate holders are entitled to participate in script dividend exercise.

You have to evaluate it based on your personal circumstances.

Vested In All Classes Above
GG

(06-08-2013, 10:30 PM)stam Wrote: anyone holding Boustead with CPF fund? can we opt for scrip dividend?

Is it wise to take up scrip dividend? will it be difficult to sell later on with odd lots?

I prefer cash into my bank

Formal announcement on Continental Automotive:

http://infopub.sgx.com/FileOpen/Boustead...eID=251573

(27-07-2013, 10:21 PM)greengiraffe Wrote: PUBLISHED JULY 27, 2013

BT: Automotive supplier expands R&D centre


Continental's building extension in line with plans to double workforce to more than 1,300 over next 4-5 years
BYANNABETH LEOW LEOWHMA@SPH.COM.SGPRINT |EMAIL THIS ARTICLE
BT 20130727 HMCONTINENTAL27 686425
SOLID BACKING
(From left) Angelika Viets, German Ambassador to Singapore; EDB's Mr Lim; Continental's Mr Lo; and Wong Fong Fui, executive chairman and group CEO, Boustead Singapore Limited. A research priority for the Singapore centre is the development of in-car information management systems. - PHOTO: CONTINENTAL AUTOMOTIVE SINGAPORE

GERMANY-BASED automotive supplier Continental yesterday broke ground for a seven-storey wing at its research and development centre, which was itself completed just a year ago.
The extension, which Continental Automotive Singapore managing director Lo Kien Foh expects to be ready next year, is slated to accommodate around 450 employees, and will add 5,000 square metres of floor space to the 10,170 sq m R&D facility.
Total capital investment comes to 17.5 million euros (S$29.7 million).
This, said Mr Lo, is in line with the company's plans to double its workforce in Singapore from some 650 last July to more than 1,300 within the next four to five years. He said that the company also plans to raise Asia's share of corporate sales to more than 30 per cent over the next few years.
Continental reported 32.7 billion euros in global sales for 2012, out of which sales in Asia accounted for some six billion euros, or 18 per cent.
The R&D complex in Singapore, on Boon Keng Road, is one of Continental's three global R&D centres for its interior division, which focuses on the design of interior automobile features.
According to Mr Lo, a research priority for the Singapore centre is the development of in-car information management systems.
He said that more than 70 per cent of Continental's Singapore-based employees work in engineering and design.
"Our commitment is to recruit more local talent, and develop local expertise in collaboration with our international teams, and our partners in Singapore."
Singapore is an attractive site for an R&D centre, he said, because "it has got the expertise, has got the talent".
"Singapore will be a location that we can grow with the number of resources, the amount of competence, that we have."
Echoing this point on the training and retention of talent, Lim Kok Kiang, executive director of transport engineering at the Economic Development Board, mentioned relevant specialised engineering programmes at the National University of Singapore and Nanyang Technological University, as well as related courses at local polytechnics.
"I trust that as Continental continues to grow in scale and scope, it will create even more exciting career opportunities for the people of Singapore."

(27-07-2013, 08:30 PM)ksir Wrote: On the same day of AGM (unclear if is after or before), Mr Wong appeared in Continental Automotive building expansion kickoff ceremony.

Please refer to Business Times, it is said that the expansion will add 5000sqm, which is > 45% add-on to existing db&l building.

ESRI Australia Updates:

i) http://esriaustralia.com.au/news-local/e...es-nar-171

ii) http://esriaustralia.com.au/news-local/a...is-nar-173

iii) http://esriaustralia.com.au/news-local/n...is-nar-172

Analyst Report
http://research.sgx.com/reports/rpt_view.pl?id=6907‎

Quarterly Report
http://infopub.sgx.com/FileOpen/Boustead...eID=252105
http://infopub.sgx.com/FileOpen/Boustead...eID=252106

I'd say the operating income (non-one off) is lesser than expected.

On the upside, the order book stands healthy.

The current price do still look over valued.

After trading hours announcement of joint venture with Tat Hong, and possible Iskandar play.

http://infopub.sgx.com/FileOpen/Boustead...eID=253524

BOUSTEAD ENERGY-RELATED ENGINEERING DIVISION AWARDED S$38M IN CONTRACTS GLOBALLY

 Over S$140 million in oil & gas contracts secured by division since start of FY2014 in April
 Over S$300 million in contracts secured by Boustead Group in FY2014  Boustead Group’s order book backlog raised to S$523 million

Singapore, 7 October 2013

Boustead Singapore Limited (“Boustead”) is pleased to announce that its Energy-Related Engineering Division has recently secured approximately S$38 million in contracts from the oil & gas industries globally.

The contracts involve the design, process engineering and construction of waste heat recovery units – key environmentally-sustainable technology – and process heater system installation services for upstream and downstream oil & gas developments, primarily in Norway and Russia.

Mr Wong Yu Loon, Executive Director of Boustead, who is responsible for the Energy- Related Engineering Division, said, “The division has excelled in securing new contracts in FY2014, with over S$140 million in energy orders so far, significantly surpassing the value of energy orders secured for the whole of FY2013. The outlook for this division remains bright as we actively pursue enquiries globally to provide our specialist expertise in process heater systems, waste heat recovery units and process control systems.”

With the addition of the latest contracts, the Group has secured over S$300 million in new contracts in FY2014, which has also just surpassed the orders secured by the Group for the whole of FY2013. The Group’s order book backlog (as at the end of June plus new orders since then) currently stands at S$523 million.
The latest contracts are not expected to have a material impact on the profitability, earnings per share and net asset value of the Group in the current financial year ending 31 March 2014.
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None of the Directors or controlling shareholders of Boustead has any interest, direct or indirect, in the latest contracts.

Anyone tried calculating intrinsic value of Boustead?
Can we use DCF for such a high CAPEX company?
My parameters for sharing

Operating Cash Flow: 99M
Debt: 50M (est)
Cash & short term investment: 247M
Growth yr 1-3: 8% (past EPS growth rate)
Growth yr 4-10: 6%
Shares outstanding 515M
Discount Rate 6% based of 0.9+ beta

IV= $2.40 (Pls note its not a buy call)

Pls advise on my calculations...I am interested in investing, no background, so based on read here and there...

If possible, can share yours...
Also, several posts back, Green Giraffe used another interesting method to calculate using estimated PE. Its been a loong time since I last seen his posting

Hi, I am assuming you are using trailing twelve month net cash flow from operating activities to get the 99m. They seem aggressive for purposes of forward projection. In the quarterly results briefing, management has stated that they expect cy earnings to be lower than last year. I think it might be better to use ebitda less tax and net capex as a proxy for free cash flow.

Tks Clement..anyway we can use the order book mentioned by Muck to finetune the projection? Though there are 3 other divisions not covered yet