Tai Sin

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#1
Any one invested in this company? It announced a respectable set of result last night. 1H sales increased by 9.5% but GM increased by 18% compared to last year. Q2 GM% of 18.1% is the highest for the last few quarters. Current NTA is 26.67c, while the share price is trading at around 0.20c. It also declared a 0.006 dividends, same as last year. Expect at least another 1c dividends at year end, which gives a dividend yield of 8%.

Vested.
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#1
Any one invested in this company? It announced a respectable set of result last night. 1H sales increased by 9.5% but GM increased by 18% compared to last year. Q2 GM% of 18.1% is the highest for the last few quarters. Current NTA is 26.67c, while the share price is trading at around 0.20c. It also declared a 0.006 dividends, same as last year. Expect at least another 1c dividends at year end, which gives a dividend yield of 8%.

Vested.
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#2
(10-02-2012, 11:14 AM)Ben Wrote: Expect at least another 1c dividends at year end, which gives a dividend yield of 8%.

Hope it is not scrip div again. They had 2 in a row already. Quarterly div also disappeared. Otherwise the yield could improve.

The other sad thing about this stock is that business tends to be better when more earthquakes hit NZ.
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#2
(10-02-2012, 11:14 AM)Ben Wrote: Expect at least another 1c dividends at year end, which gives a dividend yield of 8%.

Hope it is not scrip div again. They had 2 in a row already. Quarterly div also disappeared. Otherwise the yield could improve.

The other sad thing about this stock is that business tends to be better when more earthquakes hit NZ.
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#3
It's a powerful undervalued stock, especially when u stay vested in long run.

if u compound dividend to buy more stock, it gives a respectable returns of at least 15%. Do the maths and u will see it.


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#3
It's a powerful undervalued stock, especially when u stay vested in long run.

if u compound dividend to buy more stock, it gives a respectable returns of at least 15%. Do the maths and u will see it.


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#4
15% return from compounding dividends?? WOW.. how come I dun have that kind of return despite being invested since 07 (admittedly when it was on the high side). Maybe my stake is too small for any 'compounding' to take effect. And given the measly 1.5c - 2c DPS (excluding the 6c bonus in FY2007) from 2008-2011, its hard to see how much compounding you can do.

The dividend yield has been decent if you were invested after the GFC from 2008 onwards. Then and only then could you possibly make that magical 15% compounded return.

As one of my esteemed member will say - Your Mileage May Vary. Indeed! Smile
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#4
15% return from compounding dividends?? WOW.. how come I dun have that kind of return despite being invested since 07 (admittedly when it was on the high side). Maybe my stake is too small for any 'compounding' to take effect. And given the measly 1.5c - 2c DPS (excluding the 6c bonus in FY2007) from 2008-2011, its hard to see how much compounding you can do.

The dividend yield has been decent if you were invested after the GFC from 2008 onwards. Then and only then could you possibly make that magical 15% compounded return.

As one of my esteemed member will say - Your Mileage May Vary. Indeed! Smile
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#5
u are absolutely rite. If u bot above book value, u can't get such returns.
Look at taisin price chart. Over the yrs, it average a growth of 6%pa. It's nav also grew around that rate. So stability is there.
Look at it's dividend payout. It remained stable also for donkey years.
Controlling 30%of electrical and switchboard in s'pore industry, it's tapping the growth of s'pore's infrastructure.
Won't be surprised that matter of time before it ceases to be a penny.
Any price below it's bookvalue, can go in, quite frankly. Buy and hold. Fast buck is out of question.
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#5
u are absolutely rite. If u bot above book value, u can't get such returns.
Look at taisin price chart. Over the yrs, it average a growth of 6%pa. It's nav also grew around that rate. So stability is there.
Look at it's dividend payout. It remained stable also for donkey years.
Controlling 30%of electrical and switchboard in s'pore industry, it's tapping the growth of s'pore's infrastructure.
Won't be surprised that matter of time before it ceases to be a penny.
Any price below it's bookvalue, can go in, quite frankly. Buy and hold. Fast buck is out of question.
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#6
how do u guys see the recent acquisition of 50% CAST Labortories. This testing is in competition with VICOM's SETSCO. Could we see some kind of good growth there?
Dividend Investing and More @ InvestmentMoats.com
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#6
how do u guys see the recent acquisition of 50% CAST Labortories. This testing is in competition with VICOM's SETSCO. Could we see some kind of good growth there?
Dividend Investing and More @ InvestmentMoats.com
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#7
(18-02-2012, 10:18 AM)Drizzt Wrote: how do u guys see the recent acquisition of 50% CAST Labortories. This testing is in competition with VICOM's SETSCO. Could we see some kind of good growth there?

i doubt so. This cast laboratory biz is too small. Net profit only 240pa if i dun remember wrongly. It may be truly the company's desire to diversify it's biz. Dun forget scrip dividend just occurred. Means company saved millions in dividend payout. Thus can fund some of these small company takeover.


From its history, it's also tried its hand in sanitary biz.

The core biz is still s'pore's electrical and switchboard.
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#7
(18-02-2012, 10:18 AM)Drizzt Wrote: how do u guys see the recent acquisition of 50% CAST Labortories. This testing is in competition with VICOM's SETSCO. Could we see some kind of good growth there?

i doubt so. This cast laboratory biz is too small. Net profit only 240pa if i dun remember wrongly. It may be truly the company's desire to diversify it's biz. Dun forget scrip dividend just occurred. Means company saved millions in dividend payout. Thus can fund some of these small company takeover.


From its history, it's also tried its hand in sanitary biz.

The core biz is still s'pore's electrical and switchboard.
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#8
(18-02-2012, 10:18 AM)Drizzt Wrote: how do u guys see the recent acquisition of 50% CAST Labortories. This testing is in competition with VICOM's SETSCO. Could we see some kind of good growth there?

CAST specializes in certification for ready-mix cement and civil engineering testing.

In ready-mixes cement, it fares better than SETSCO but is still a very small player compared to certification international and admaterial.

While it may offer a wide range of services, it is a small player in each of these area other than in civil engineering. Civil engineering is where it has a significant number of accreditations with competitiors being SETSCO, Admaterial and Al tech.
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#8
(18-02-2012, 10:18 AM)Drizzt Wrote: how do u guys see the recent acquisition of 50% CAST Labortories. This testing is in competition with VICOM's SETSCO. Could we see some kind of good growth there?

CAST specializes in certification for ready-mix cement and civil engineering testing.

In ready-mixes cement, it fares better than SETSCO but is still a very small player compared to certification international and admaterial.

While it may offer a wide range of services, it is a small player in each of these area other than in civil engineering. Civil engineering is where it has a significant number of accreditations with competitiors being SETSCO, Admaterial and Al tech.
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#9
thanks paul and shanrui
Dividend Investing and More @ InvestmentMoats.com
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#9
thanks paul and shanrui
Dividend Investing and More @ InvestmentMoats.com
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#10
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
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#10
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
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