TTJ Holdings

[brattzz]

Those who didn't ride the run are cursing how bad the company is

Those who bought for speculation are boasting about the baseless expectations

Those who invest seeing the true value in the company are the one who keep quiet

3. and waiting for lower price to buy more... heehee...  

[hongonn]

Those who didn't ride the run are cursing how bad the company is

Actually i don't think it's right to say this. It sound like whoever throwing out the negative views of a company is all because of sour grape. 

Many times all these negative views serve me well because sometimes i might not have all the facts or not knowing the industry well nor have any insider info. 

Negative views allow me to take into consideration in the end i may not may not take heed but its always good to gather all facts and info to form any investment decision.

After investing for some times, i find getting emotional or too attached to a company and reject all negative views and refuse to take action, or keep holding up hope, can be very fatal for investing.

I do appreciate all these negative views, and can't wait to get more of it. In the end it's your common sense to analyse. And in fact all these talking bad did save me a few times.

[valuebuddies]

My apology for being judgemental, sometime it's juz sian to see uninformative posts flying around

[BlueKelah]

My apology for being judgemental, sometime it's juz sian to see uninformative posts flying around

that's just part and parcel of participating in a forum. Its about posting opinions, which will at times not be based on any hard data or information and may be contradictory to yours.

VB considered one of the best liao loh. You go sharejunction or other forum see you will be even more sian ;D

[specuvestor]

I would like to know which are the uninformative one liner posts

If this forum degrades to one that only talk positive stuff then probably there's no value here anymore. Other forums are not even close to VB.

I for one know that there are those who keep quiet and reap the fruits here, but I don't consider them better than VBs who voice out constructive information here so all can benefit. If not for VB I wouldn't even noticed TTJ

[brattzz]

think best not to compare VB to other forums lah, (talk about setting the bar really low... )

just relax, try to contribute if possible, or just do reading/learning... afterall, we are supposed to be enjoying ourselves...
try not to believe all posts face-value, do ur own research, just share if u feel like it...

Investing is supposed to be fun, even merrier with friendly VBs investors! plenty around here, ever willing to share ideas/info/comments/thoughts/feelings..etc,

[wind22i]

Look at the last paragraph on how the valuation was derived by rhb not too Long ago.. The share shld be worth at least 47cents (the dividend assumed is 3c):
"Along with higher profits, we expect the group to dish out good dividends (3cents/share based on a 50% payout). Valuing its structural steel business at a normalised 10x multiple or S$100m and its cash pile of $66m, we believe the stock can trade up to its fair value of S$0.47." 


TTJ Holdings - RHB Invest 2016-09-07: Trading BUY with Fair Value S$0.47

TTJ Holdings (TTJ SP) is reporting its full year financials later this month and we think the group is poised for a record year in profits and possibly, higher dividends to go along.
The company’s key business activities are in the design, supply and fabrication of structural steelworks with a combined fabrication capacity of 42,000 tons across its factories in Singapore and Johor, Malaysia. Over the years, the group has built up a strong track record in delivering sophisticated structural steel solutions used in diverse industries ranging from commercial building construction and offshore oil and gas to industrial plants. 
TTJ was involved in many iconic landmarks in Singapore such as the National Art Gallery, the Orchard Gateway bridge, the SuperTrees at Gardens by the Bay, The Helix at Marina Bay and Pinnacle@Duxton, among others. 
It also operates a dormitory business in Singapore with a capacity of 5,300 persons at Jalan Papan, but the lease will be expiring in January next year.
Riding on a strong pipeline of contract works for major infrastructural and industrial projects such as the LNG Terminals at Jurong Island and Pengerang, Johor, upgrading works at Changi Terminals and civil defence doors for new MRT lines, the group delivered a 138% growth in net profit to S$22.9m for 9MFY16. 
With an orderbook of some S$70m to be delivered over the next 18 months, we expect full year profits to comfortably exceed S$25m.
TTJ stands out for its highly cash-generative business, with S$56m of free cash flows generated in the past 2 year. Despite a bumper dividend of 8 cents/share amounting to S$28m in FY15, cash continues to build up and the group is currently sitting on net cash of S$66m, which amount to 50% of its market capitalisation. 
Along with higher profits, we expect the group to dish out good dividends (3cents/share based on a 50% payout). Valuing its structural steel business at a normalised 10x multiple or S$100m and its cash pile of $66m, we believe the stock can trade up to its fair value of S$0.47. 
We recommend a Trading BUY.

[brattzz]

errr.. analysts....

don't read too much into it...

[ksir]

For what it's worth, somehow, I get to below CIMB report on TTJ from the pdf sent by my indon broker:
https://brokingrfs.cimb.com/UN3EUsrmCRAB...G_2-g2.pdf

Nothing new, but more emphasizes on the risks, competitions and slight mention of why need working capital (pay less dividends).

<vested, though reduced>

[brattzz]

Thanks ksir!

It's a good summary!

let see what rabbit can boss Teo pull out? MORE order books!!