12-02-2014, 09:41 PM (This post was last modified: 12-02-2014, 09:41 PM by BlueKelah.)
This is one counter recommended by UOB KAYHIAN for their "education" seminar
4) Tai Sin Electric – Undervalued Market Leader With An Excellent Growth Record
Tai Sin is a manufacturer of cables, switchboards and distributor of complementary electrical products, with an estimated market share of about 20-25% of Singapore’s low voltage power cable market.
Despite being in a competitive industry, Tai Sin has been profitable since FY02 with net profit growing strongly at a CAGR of 26.7% from S$1.6m in FY02 to S$21.2m in FY13. Backed by a solid balance sheet (6% net debt/ asset), Tai Sin trades at an undemanding valuation of 6.3x trailing 12-month PE with an attractive dividend yield of 6.8%.
Event Details:
19 February 2014
Wednesday
6.30 PM - 7.30 PM
UOB Kay Hian Auditorium
24 February 2014
Monday
6.30 PM - 7.30 PM
Bedok Investor Centre
Jurong East and Raffles Place Investor Centres
(Simulcast sessions)
***Fees: WAIVED (Valued at S$88 per seat)
Please register your participation HERE or you may visit the UTRADE website under "Education" to sign up for the seminar.
---interpretation--> Tai Sin not a counter to buy.
I will respect the analyst from UOBKH if he were to issue this buy call one or two years ago. After all, the facts written in the report were already there for a long time now. To issue a buy call when TS is already trading above its NAV, and worst still, to issue a target price way above its NAV, I hope this analyst have solid grounds for doing so. I have been holding TS shares for many years, but started to offload recently at between 33 cents to 35 cents. Now left with small holding. I still think that this is a decent company with reliable management, but at the price now, there is no compelling reason to continue holding. There are more interesting buy elsewhere, IMHO.
Tai Sin to me is just a yield play, but off course with the continuous infrastructure developments, eg. MRT lines, terminal 4 and 5, I would anticipate steadily increasing revenue and profits. 6/7% dividend is power, but I am hoping for consistent 10% yield, so no point for me to buy or sell now, only wait for another round of crisis to snatch up the shares, below 25c would be long for me.
(12-02-2014, 10:04 PM)Ben Wrote: I will respect the analyst from UOBKH if he were to issue this buy call one or two years ago. After all, the facts written in the report were already there for a long time now. To issue a buy call when TS is already trading above its NAV, and worst still, to issue a target price way above its NAV, I hope this analyst have solid grounds for doing so. I have been holding TS shares for many years, but started to offload recently at between 33 cents to 35 cents. Now left with small holding. I still think that this is a decent company with reliable management, but at the price now, there is no compelling reason to continue holding. There are more interesting buy elsewhere, IMHO.
Agreed, but i have not yet started to divest. Dividends still ok, but not so compelling.
But what are the more interesting buys, if i may ask?
Myself looking to add to New Toyo.
13-02-2014, 11:06 PM (This post was last modified: 13-02-2014, 11:08 PM by NTL.)
To me, Taisin is a company that sells something that is needed in many industries, thus it strength lies here. It can shift itself easily from one industry to another as demand grows and falls. It is not exciting, but it should be stable. If their profit for next 2quarters remain stable, the forward PE for the year will be close to 7.
Adding back the "hidden" value of the properties, the NAV (or is it called RNAV) should be closer to 35c. That will mean that the current price is trading around is NAV.
Anyone vested in tai sin? Seems to be good stock for dividend play.
Been monitoring this stock for a while. Seems to be dishing out relatively good dividends ard 6%. Valuation for PB and PE @ 1.1 and 7.3 seems to be reasonable for me given that the dividends are at 6% and payout ratio is ard 40 - 60% for the past 5 years.
Seem to have quite a fair bit in their accounts payable rather than long term debt. Should be the 'norm' for payment in the industry?
Anyways, looking to invest once it hits around 0.32 or so.
Thoughts anyone?
Winston Churchill:-
“The inherent vice of capitalism is the unequal sharing of blessings; the inherent virtue of socialism is the equal sharing of miseries.”
"The farther backward you can look, the farther forward you are likely to see."
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