Vibrant Group Ltd (Formerly: Freight Links Express Holdings)

[Stephentoh]

There hasnt been any discussion/Coverage on this company, lets have some insights on this company and start up a discussion on this coy. Gather your inputs here! Coverage on this company is limited, so fellow buddies invested in this counter, feel free to share you thoughts.

* Background from SGX website:

The Company (formerly known as Freight Links Express Holdings Limited) was incorporated in Singapore on 8 January 1986. The Group started with Freight Links Express Pte Ltd, a freight forwarding company in Singapore on 9 January 1981. It served a niche market by providing cargo consolidation, or less-than-container-load transport services. Today, it has become an integrated logistics solution provider.

It has since grown and is now focused on three core businesses – Logistics, Financial Services and Real Estate.
Logistics comprise of international freight forwarding, chemical storage and logistics, warehousing and distribution, documents storage and management. The Group has worldwide presence spanning Asia, North & South America, Europe, Africa and Australia. It has 120 freight forwarding agents and delivers to 600 destinations globally with overseas offices in major cities in Malaysia, Thailand, Hong Kong, Korea, China and Dubai.

The financial services include the business of fund management, financial leasing services and asset and trust management whilst the real estate include business of property management services and real estate development.

The Group provides real estate fund and property management services to Sabana Shari’ah Compliant Real Estate Investment Trust (in short Sabana REIT) through its majority control of Sabana Investment Partners Pte Ltd.
Some pointers for this company:
1) High dividend yield for the past few years, 5 cents in 2013, current stock price @ $0.104
2) Company inititated a share buy back @ 10 cents recently in May
3)Vibrant Group Ltd's total free cash flow for the three months ended in Jan. 2014 was $-2.4 Mil. Its total free cash flow for the trailing twelve months (TTM) ended in Jan. 2014 was $-73.3 Mil.
4) 3rd Quarter results
http://infopub.sgx.com/FileOpen/Vibrant_...eID=286062

[Retired@52]

Vibrant Group Ltd's Fundamentals:

1) Last 3 years’ Net Profits:
2011 ~ $16 M
2012 ~ $32 M
2013 ~ $38 M

2) Last 3 Years’ Dividend:
2011 ~ $0.0040
2012 ~ $0.0045
2013 ~ $0.0050

3) Last 3 years’ NAV:
2011 ~ $
2012 ~ $0.080
2013 ~ $0.095

4)The Estimated Current Yield:
Add up last 3 years’ Dividends divide by 3 then divide by Current price
($0.0040 + $0.0045 + $0.0050) divide by 3 then divide by $0.103 = 4.6%

The adjusted historic high on 26.06.07 was $0.265 per share
The adjusted historic low on 18.03.09 was $0.035
The Current share price is $0.103

E&O (04-06-14)
Vested.

[Stephentoh]

Vibrant Group Ltd's Fundamentals:

1) Last 3 years’ Net Profits:
2011 ~ $16 M
2012 ~ $32 M
2013 ~ $38 M

2) Last 3 Years’ Dividend:
2011 ~ $0.0040
2012 ~ $0.0045
2013 ~ $0.0050

3) Last 3 years’ NAV:
2011 ~ $
2012 ~ $0.080
2013 ~ $0.095

4)The Estimated Current Yield:
Add up last 3 years’ Dividends divide by 3 then divide by Current price
($0.0040 + $0.0045 + $0.0050) divide by 3 then divide by $0.103 = 4.6%

The adjusted historic high on 26.06.07 was $0.265 per share
The adjusted historic low on 18.03.09 was $0.035
The Current share price is $0.103

E&O (04-06-14)
Vested.

Thanks Retired! i just have some queries, what is the reason behind its negative FCF for the past few years ? and its the high dividend yield sustainable in the coming years? thanks =)

[Retired@52]

Vibrant Group Ltd's Fundamentals:

1) Last 3 years’ Net Profits:
2011 ~ $16 M
2012 ~ $32 M
2013 ~ $38 M

2) Last 3 Years’ Dividend:
2011 ~ $0.0040
2012 ~ $0.0045
2013 ~ $0.0050

3) Last 3 years’ NAV:
2011 ~ $
2012 ~ $0.080
2013 ~ $0.095

4)The Estimated Current Yield:
Add up last 3 years’ Dividends divide by 3 then divide by Current price
($0.0040 + $0.0045 + $0.0050) divide by 3 then divide by $0.103 = 4.6%

The adjusted historic high on 26.06.07 was $0.265 per share
The adjusted historic low on 18.03.09 was $0.035
The Current share price is $0.103

E&O (04-06-14)
Vested.

Thanks Retired! i just have some queries, what is the reason behind its negative FCF for the past few years ? and its the high dividend yield sustainable in the coming years? thanks =)

Hi Stephentoh,

Company expansion & Share-Buy-Back can also affect the Free-Cash-Flow negatively. This company did quite a bit of Share-Buy-Back last years. This action appears positive to me.

[Stephentoh]

Vibrant Group Ltd's Fundamentals:

1) Last 3 years’ Net Profits:
2011 ~ $16 M
2012 ~ $32 M
2013 ~ $38 M

2) Last 3 Years’ Dividend:
2011 ~ $0.0040
2012 ~ $0.0045
2013 ~ $0.0050

3) Last 3 years’ NAV:
2011 ~ $
2012 ~ $0.080
2013 ~ $0.095

4)The Estimated Current Yield:
Add up last 3 years’ Dividends divide by 3 then divide by Current price
($0.0040 + $0.0045 + $0.0050) divide by 3 then divide by $0.103 = 4.6%

The adjusted historic high on 26.06.07 was $0.265 per share
The adjusted historic low on 18.03.09 was $0.035
The Current share price is $0.103

E&O (04-06-14)
Vested.

Thanks Retired! i just have some queries, what is the reason behind its negative FCF for the past few years ? and its the high dividend yield sustainable in the coming years? thanks =)

Hi Stephentoh,

Company expansion & Share-Buy-Back can also affect the Free-Cash-Flow negatively. This company did quite a bit of Share-Buy-Back last years. This action appears positive to me.

Cool, thanks! yup several share buy back occasion has been initated in the past, indeed the mangement on the positive look. Waiting for its report and dividend announcement in 2-3 months time.

[CY09]

Hi, vibrant has also issued loans to city harvest church which have high interest

Vb does cover vibrant, check the 'f' thread for freight link. It is just due to us being part time stock 'amateurs' , we do not regularly update the change of names.
I believe the moderators will help you merge with the old thread

[Fish Head]

Negative free cash flow due to share buy back? Free cash flow is operating cash flow minus capex. Shane buy back should not in the figure?

[roxhockey]

Don't forget to strip out the share price appreciation gains in 2013 to get a
better view of underlying revenues / profit.

[CityFarmer]

Hi, vibrant has also issued loans to city harvest church which have high interest

Vb does cover vibrant, check the 'f' thread for freight link. It is just due to us being part time stock 'amateurs' , we do not regularly update the change of names.
I believe the moderators will help you merge with the old thread

The two threads merged. Thank CY09 for giving us the heads-up.

(not vested)

[Stephentoh]

Report: Full Year Financial Statement for year ended April 2014
http://www.freightlinks.net/images/files...Result.pdf

Overall Revenue and Profit Increase by 8.4% & 7.4 % respectively, with the freight and logistics segment continuing to be the main contributor.
Freight and logistics revenue grew 5.9 per cent to $172.6 million, mainly due to increase in demand for business with the completion of the new chemical hub in Jurong Island, the company said
EPS @ 1.72 cents per share
NAV @ 11.02 cents
As at 30 April 2014, the Group has cash and cash equivalents of $83.0 million, and net gearing of 0.38 times

Dividend Declared FY 2014
Dividend type: Cash or scrip
Dividend Amount per share (in cents) 0.55 cent per ordinary share
Date : To be announced
Dividend Yield: 5.188% as of today price of $0.106