Boustead Singapore

[greengiraffe]

There is no doubt that there are plenty of one-offs last year. However, with the steady build up of recurrent income from ESRI, rental from ind prop (9 assets slightly over 100,000 sm) other engineering divisions including projects - recurrent pretax earnings is easily between S$40 - 50m.

That should easily cover Boustead's stated ordinary dividends of 5 cents a year without special dividends and see their cash pile growing.

So far, I have yet to come across analysts updating their reviews on Boustead. Looks like I may have to dust off my parang and initiate my safari views.

Akan Datang
GG

Boustead corrected today, can't say I did not see that coming.

The recent price of Boustead was quite high relatively, given that much of their earning growth is driven by one-offs.

EPS of next financial is expected to be significantly lower than the previous. I expect correction to continue.


(vested)