Tai Sin

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#11
(18-02-2012, 10:54 AM)shanrui_91 Wrote: and i forget to mention that cement certification is an area where there is a significant portion of recurring income. civil engineering's income and demand are more dependent on the growth of the construction sector

this reinforces the prudent style of management and investment of 2nd generation leader of taisin. And scrip dividend strengthen's the lim's family hold onto taisin.
This all makes sense.
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#11
(18-02-2012, 10:54 AM)shanrui_91 Wrote: and i forget to mention that cement certification is an area where there is a significant portion of recurring income. civil engineering's income and demand are more dependent on the growth of the construction sector

this reinforces the prudent style of management and investment of 2nd generation leader of taisin. And scrip dividend strengthen's the lim's family hold onto taisin.
This all makes sense.
Reply
#12
Yet again Taisin has delivered an impressive set of result for Q3. Q3 revenue is at its highest since FY 2010, and more importantly, Q3 GM% at 19.2% is the second highest after Q1 2010. Operating expenses has been very stable for the last few quarters and therefore current YTD profits before tax improved from $8.9M to $16.3M, or 83%. It is not unreasonable to expect Q4 results to be good, thought it may not be able to beat Q3 performance.

YTD EPS is 3.43c. Assuming Q4 EPS is just 1c, total year EPS will be 4.43c. Taisin paid 60% of its profit last year as dividends, and if they maintain the same payout ratio, DPS this year will be 2.65c. Less off 0.6c paid in mid year, we can expect to receive 2c final dividends. At current price of about $0.197, the yield is 13%!!

But is paying 2c final dividends going to be a drain on the company cash?

The company has 413M shares on issued. Paying 2c dividends would means they need to come out with $8.26M cash. This is substantial comparing against cash on hand of $12M in Q3. But Taisin has been paying final dividends in script, and the Lim's family has always fully taken up their share of script dividends. Since they owned more than 50% of total issued shares, the cash portion of dividends payment would be about $4M, assuming all the others shareholders go for cash. This amout is certainly not a big issue to the company.

At 4.43c EPS, PE ratio is less than 5X.

Current NTA is 27.55c.

Can I say this is an undervalued and under appreciated company?

Vested.
Reply
#12
Yet again Taisin has delivered an impressive set of result for Q3. Q3 revenue is at its highest since FY 2010, and more importantly, Q3 GM% at 19.2% is the second highest after Q1 2010. Operating expenses has been very stable for the last few quarters and therefore current YTD profits before tax improved from $8.9M to $16.3M, or 83%. It is not unreasonable to expect Q4 results to be good, thought it may not be able to beat Q3 performance.

YTD EPS is 3.43c. Assuming Q4 EPS is just 1c, total year EPS will be 4.43c. Taisin paid 60% of its profit last year as dividends, and if they maintain the same payout ratio, DPS this year will be 2.65c. Less off 0.6c paid in mid year, we can expect to receive 2c final dividends. At current price of about $0.197, the yield is 13%!!

But is paying 2c final dividends going to be a drain on the company cash?

The company has 413M shares on issued. Paying 2c dividends would means they need to come out with $8.26M cash. This is substantial comparing against cash on hand of $12M in Q3. But Taisin has been paying final dividends in script, and the Lim's family has always fully taken up their share of script dividends. Since they owned more than 50% of total issued shares, the cash portion of dividends payment would be about $4M, assuming all the others shareholders go for cash. This amout is certainly not a big issue to the company.

At 4.43c EPS, PE ratio is less than 5X.

Current NTA is 27.55c.

Can I say this is an undervalued and under appreciated company?

Vested.
Reply
#13
(15-05-2012, 02:28 PM)Ben Wrote: Yet again Taisin has delivered an impressive set of result for Q3. Q3 revenue is at its highest since FY 2010, and more importantly, Q3 GM% at 19.2% is the second highest after Q1 2010. Operating expenses has been very stable for the last few quarters and therefore current YTD profits before tax improved from $8.9M to $16.3M, or 83%. It is not unreasonable to expect Q4 results to be good, thought it may not be able to beat Q3 performance.

YTD EPS is 3.43c. Assuming Q4 EPS is just 1c, total year EPS will be 4.43c. Taisin paid 60% of its profit last year as dividends, and if they maintain the same payout ratio, DPS this year will be 2.65c. Less off 0.6c paid in mid year, we can expect to receive 2c final dividends. At current price of about $0.197, the yield is 13%!!

But is paying 2c final dividends going to be a drain on the company cash?

The company has 413M shares on issued. Paying 2c dividends would means they need to come out with $8.26M cash. This is substantial comparing against cash on hand of $12M in Q3. But Taisin has been paying final dividends in script, and the Lim's family has always fully taken up their share of script dividends. Since they owned more than 50% of total issued shares, the cash portion of dividends payment would be about $4M, assuming all the others shareholders go for cash. This amout is certainly not a big issue to the company.

At 4.43c EPS, PE ratio is less than 5X.

Current NTA is 27.55c.

Can I say this is an undervalued and under appreciated company?

Vested.

this could be the reason when sti down by hundreds of points these few wks, yet this little fellow still holding up well.
Reply
#13
(15-05-2012, 02:28 PM)Ben Wrote: Yet again Taisin has delivered an impressive set of result for Q3. Q3 revenue is at its highest since FY 2010, and more importantly, Q3 GM% at 19.2% is the second highest after Q1 2010. Operating expenses has been very stable for the last few quarters and therefore current YTD profits before tax improved from $8.9M to $16.3M, or 83%. It is not unreasonable to expect Q4 results to be good, thought it may not be able to beat Q3 performance.

YTD EPS is 3.43c. Assuming Q4 EPS is just 1c, total year EPS will be 4.43c. Taisin paid 60% of its profit last year as dividends, and if they maintain the same payout ratio, DPS this year will be 2.65c. Less off 0.6c paid in mid year, we can expect to receive 2c final dividends. At current price of about $0.197, the yield is 13%!!

But is paying 2c final dividends going to be a drain on the company cash?

The company has 413M shares on issued. Paying 2c dividends would means they need to come out with $8.26M cash. This is substantial comparing against cash on hand of $12M in Q3. But Taisin has been paying final dividends in script, and the Lim's family has always fully taken up their share of script dividends. Since they owned more than 50% of total issued shares, the cash portion of dividends payment would be about $4M, assuming all the others shareholders go for cash. This amout is certainly not a big issue to the company.

At 4.43c EPS, PE ratio is less than 5X.

Current NTA is 27.55c.

Can I say this is an undervalued and under appreciated company?

Vested.

this could be the reason when sti down by hundreds of points these few wks, yet this little fellow still holding up well.
Reply
#14
Hi Ben

Does the company have a fixed dividend policy?

Does the company have substantial debt?


Who are the competitors? Is the sector "too crowded"?

Tks for sharing...
Reply
#14
Hi Ben

Does the company have a fixed dividend policy?

Does the company have substantial debt?


Who are the competitors? Is the sector "too crowded"?

Tks for sharing...
Reply
#15
How does Tai Sin manage the price volatility risk of copper?

Does it do hedging? Can it pass on the cost increase to its cilents?

Who are its key cilents?
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#15
How does Tai Sin manage the price volatility risk of copper?

Does it do hedging? Can it pass on the cost increase to its cilents?

Who are its key cilents?
Reply
#16
Hi Ben

Take a look at New Toyo too. It is vastly undervalued by Mr Market..
It has 54% of Tien Wah.

(15-05-2012, 02:28 PM)Ben Wrote: Yet again Taisin has delivered an impressive set of result for Q3. Q3 revenue is at its highest since FY 2010, and more importantly, Q3 GM% at 19.2% is the second highest after Q1 2010. Operating expenses has been very stable for the last few quarters and therefore current YTD profits before tax improved from $8.9M to $16.3M, or 83%. It is not unreasonable to expect Q4 results to be good, thought it may not be able to beat Q3 performance.

YTD EPS is 3.43c. Assuming Q4 EPS is just 1c, total year EPS will be 4.43c. Taisin paid 60% of its profit last year as dividends, and if they maintain the same payout ratio, DPS this year will be 2.65c. Less off 0.6c paid in mid year, we can expect to receive 2c final dividends. At current price of about $0.197, the yield is 13%!!

But is paying 2c final dividends going to be a drain on the company cash?

The company has 413M shares on issued. Paying 2c dividends would means they need to come out with $8.26M cash. This is substantial comparing against cash on hand of $12M in Q3. But Taisin has been paying final dividends in script, and the Lim's family has always fully taken up their share of script dividends. Since they owned more than 50% of total issued shares, the cash portion of dividends payment would be about $4M, assuming all the others shareholders go for cash. This amout is certainly not a big issue to the company.

At 4.43c EPS, PE ratio is less than 5X.

Current NTA is 27.55c.

Can I say this is an undervalued and under appreciated company?

Vested.
Reply
#16
Hi Ben

Take a look at New Toyo too. It is vastly undervalued by Mr Market..
It has 54% of Tien Wah.

(15-05-2012, 02:28 PM)Ben Wrote: Yet again Taisin has delivered an impressive set of result for Q3. Q3 revenue is at its highest since FY 2010, and more importantly, Q3 GM% at 19.2% is the second highest after Q1 2010. Operating expenses has been very stable for the last few quarters and therefore current YTD profits before tax improved from $8.9M to $16.3M, or 83%. It is not unreasonable to expect Q4 results to be good, thought it may not be able to beat Q3 performance.

YTD EPS is 3.43c. Assuming Q4 EPS is just 1c, total year EPS will be 4.43c. Taisin paid 60% of its profit last year as dividends, and if they maintain the same payout ratio, DPS this year will be 2.65c. Less off 0.6c paid in mid year, we can expect to receive 2c final dividends. At current price of about $0.197, the yield is 13%!!

But is paying 2c final dividends going to be a drain on the company cash?

The company has 413M shares on issued. Paying 2c dividends would means they need to come out with $8.26M cash. This is substantial comparing against cash on hand of $12M in Q3. But Taisin has been paying final dividends in script, and the Lim's family has always fully taken up their share of script dividends. Since they owned more than 50% of total issued shares, the cash portion of dividends payment would be about $4M, assuming all the others shareholders go for cash. This amout is certainly not a big issue to the company.

At 4.43c EPS, PE ratio is less than 5X.

Current NTA is 27.55c.

Can I say this is an undervalued and under appreciated company?

Vested.
Reply
#17
another stock which mr market is realising its potential. looks like its on steady uptrend.
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#17
another stock which mr market is realising its potential. looks like its on steady uptrend.
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#18
i've been watching this counter. 1lot done at closing time at 22c. to spend $20 brokerage fee just to buy 1lot which cost $200? is someone setting stage for something next week?
(vested)[/align]
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#18
i've been watching this counter. 1lot done at closing time at 22c. to spend $20 brokerage fee just to buy 1lot which cost $200? is someone setting stage for something next week?
(vested)[/align]
Reply
#19
(20-07-2012, 07:35 PM)paullow Wrote: i've been watching this counter. 1lot done at closing time at 22c. to spend $20 brokerage fee just to buy 1lot which cost $200? is someone setting stage for something next week?
(vested)[/align]

House Traders and Brokers pay very low brokerage. If I understand correctly from my remisier, it cost something like a couple of dollars for brokers who're trading for their own account. Many square off their trades at the end of the day even if it's at the same price as they don't want to carry any overnight risk. I think that's why you see many of these irritating 1 lot trades, especially more so for illiquid stocks. In such cases, I usually withdraw my orders (if not done) closer to 5pm as I don't want to end up having to pay the min. brokerage fee and in the worst case, for just 1 lot of a <20ct stock.
Luck & Fortune Favours those who are Prepared & Decisive when Opportunity Knocks
------------ 知己知彼 ,百战不殆 ;不知彼 ,不知己 ,每战必殆 ------------
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#19
(20-07-2012, 07:35 PM)paullow Wrote: i've been watching this counter. 1lot done at closing time at 22c. to spend $20 brokerage fee just to buy 1lot which cost $200? is someone setting stage for something next week?
(vested)[/align]

House Traders and Brokers pay very low brokerage. If I understand correctly from my remisier, it cost something like a couple of dollars for brokers who're trading for their own account. Many square off their trades at the end of the day even if it's at the same price as they don't want to carry any overnight risk. I think that's why you see many of these irritating 1 lot trades, especially more so for illiquid stocks. In such cases, I usually withdraw my orders (if not done) closer to 5pm as I don't want to end up having to pay the min. brokerage fee and in the worst case, for just 1 lot of a <20ct stock.
Luck & Fortune Favours those who are Prepared & Decisive when Opportunity Knocks
------------ 知己知彼 ,百战不殆 ;不知彼 ,不知己 ,每战必殆 ------------
Reply
#20
Hi, if you are using Standard Chartered Bank trading platform, the commision for the 1 lot ($220/=) is $0.56. The breakdown is as follows :

Commission : 0.44
SG Clearing Fee : 0.0880
Client GST : 0.036
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#20
Hi, if you are using Standard Chartered Bank trading platform, the commision for the 1 lot ($220/=) is $0.56. The breakdown is as follows :

Commission : 0.44
SG Clearing Fee : 0.0880
Client GST : 0.036
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