Homepage
PR Newswire
PBWA in Spore is currently having its renaissance, on top of 2 huge tail winds - (1) booming Spore construction that has firmly recovered since its last downturn in the mid 2010s and, (2) post covid-19 regulatory requirements by MoM.
Most construction related firms are enjoying the 1st tailwind and have their YTD TSR between 40-50%, easily matching to the S&P500 Mag7. Centurion has both tailwinds and maybe that explains why its YTD TSR is closer to Nvidia than Mag7.
I suppose this is one of the few times, in the absence of some catalyst like takeovers, that a STI stock can boost about.
That said, every yin has its yang. PBWA is a cost center and not really a revenue driver. HOME will probably disagree but that's the reality of things. Interesting to observe that Centurion's customers (or potential customers) are taking matters into their own hands, as per ISOTeam's SIAS AGM Q&A (in italics):
The cost of housing workers at dormitories has also risen due to post-pandemic regulations implemented by the Ministry of Manpower (MOM) to reduce density and improve the living conditions of workers. To manage these issues, we have built a dormitory on two floors of our headquarters, which currently houses approximately 160 of our workers, translating into significant cost savings.
From Google maps, ISO team HQ is only 4 storey high and they took out (chased out some tenants and retrofitted them?) 2 storeys to house 160 workers. Based on bed rates published by VBs and taking out the meals/utilities cost, that's probably ~750k saved per annum which flows directly to the bottomline. And with ISOTeam's P/E~6, that is a cool "4million" of market cap OR close to a million bucks of "paper wealth" for the EDs (based on their 20% stake). Now it makes a lot of sense why they are willing to share their HQ with close to 160 FTs!
Most construction related firms are enjoying the 1st tailwind and have their YTD TSR between 40-50%, easily matching to the S&P500 Mag7. Centurion has both tailwinds and maybe that explains why its YTD TSR is closer to Nvidia than Mag7.
I suppose this is one of the few times, in the absence of some catalyst like takeovers, that a STI stock can boost about.That said, every yin has its yang. PBWA is a cost center and not really a revenue driver. HOME will probably disagree but that's the reality of things. Interesting to observe that Centurion's customers (or potential customers) are taking matters into their own hands, as per ISOTeam's SIAS AGM Q&A (in italics):
The cost of housing workers at dormitories has also risen due to post-pandemic regulations implemented by the Ministry of Manpower (MOM) to reduce density and improve the living conditions of workers. To manage these issues, we have built a dormitory on two floors of our headquarters, which currently houses approximately 160 of our workers, translating into significant cost savings.
From Google maps, ISO team HQ is only 4 storey high and they took out (chased out some tenants and retrofitted them?) 2 storeys to house 160 workers. Based on bed rates published by VBs and taking out the meals/utilities cost, that's probably ~750k saved per annum which flows directly to the bottomline. And with ISOTeam's P/E~6, that is a cool "4million" of market cap OR close to a million bucks of "paper wealth" for the EDs (based on their 20% stake). Now it makes a lot of sense why they are willing to share their HQ with close to 160 FTs!