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Falcon Energy Group
07-10-2016, 05:05 PM,
Post: #21
RE: Falcon Energy Group
(02-07-2016, 05:29 PM)Retired@52 Wrote: Dear Value Buddies,

An Idea to share: (The Magic of percentage)

Investor A bought a share of $1.00 per unit and it drops to $0.10. He lost 90%
Investor B bought the same share at $0.10 per unit and it rises back to $1.00. He gains 900%

Investor A put in $100,000, it became $10,000
Investor B put in $100,000, it becomes $1M.

Both person put in $100,000. One left with $10,000 & the other becomes a Millionaire.

Best World International (BWI) was trading at $1.16 on 25th Sept 2007.
I bought it on 19th Feb 2009 at $0.172 per unit as it was down by 85%
I sold part of it on 8th June 2016 at $1.37 per unit. (Gain 696%)

I used the proceed to invest in 3 different stocks:

1. Bought Accordia Golf Trust for dividend, yield about 12% PA
2. Bought Ezra as it has gone down by 96% from its high.
3. Bought Falcon for growth.

Let us take a look at Falcon.

Share Price on 27th Sept 2009 was $0.99 per share. (Adjusted Historical High)
This stock is now traded at $0.193 (Down by 80%)

According to my records, the company made profit & paid dividends every year from 2010 to 2015.
E&OE
Past Performance is not necessarily indicative of its future performance but may serve as a good guide.

Looking for a repeat of BWI.

I expect:

1) the Annual Report to be out next week.
2) Profitable
3) Pay Dividend

See you in 2 to 3 week's time at the AGM (Likely at the Conference Hall).

Find Reply
13-10-2016, 12:05 AM,
Post: #22
RE: Falcon Energy Group
(07-10-2016, 05:05 PM)Retired@52 Wrote:
(02-07-2016, 05:29 PM)Retired@52 Wrote: Dear Value Buddies,

An Idea to share: (The Magic of percentage)

Investor A bought a share of $1.00 per unit and it drops to $0.10. He lost 90%
Investor B bought the same share at $0.10 per unit and it rises back to $1.00. He gains 900%

Investor A put in $100,000, it became $10,000
Investor B put in $100,000, it becomes $1M.

Both person put in $100,000. One left with $10,000 & the other becomes a Millionaire.

Best World International (BWI) was trading at $1.16 on 25th Sept 2007.
I bought it on 19th Feb 2009 at $0.172 per unit as it was down by 85%
I sold part of it on 8th June 2016 at $1.37 per unit. (Gain 696%)

I used the proceed to invest in 3 different stocks:

1. Bought Accordia Golf Trust for dividend, yield about 12% PA
2. Bought Ezra as it has gone down by 96% from its high.
3. Bought Falcon for growth.

Let us take a look at Falcon.

Share Price on 27th Sept 2009 was $0.99 per share. (Adjusted Historical High)
This stock is now traded at $0.193 (Down by 80%)

According to my records, the company made profit & paid dividends every year from 2010 to 2015.
E&OE
Past Performance is not necessarily indicative of its future performance but may serve as a good guide.

Looking for a repeat of BWI.

I expect:

1) the Annual Report to be out next week.
2) Profitable
3) Pay Dividend

See you in 2 to 3 week's time at the AGM (Likely at the Conference Hall).

Hi Retired@52,

BWI and FEG are completely two different “animals”, but for the sake of fun, let’s do some comparisons…………………….
 
P/B : (BWI vs FEG)

BWI:
Share Price = SGD 1.375 (post-bonus) = SGD 1.72 (pre-bonus)
NAV per share = SGD 32.84 cents (pre-bonus)
P/B = 1.72 / 0.3284 = 5.2
 
FEG:
Share Price = SGD 16.2 cents
NAV per share = USD 34.95 cents per share (~ SGD 34.95 x 1.35 = SGD 47.18 cents)
P/B = 16.2 / 47.18 =  0.34
 
Net Cash (or debt) : (BWI vs FEG)

BWI:
Cash = SGD 48.276 m
Debt = SGD 2.514 m
ðNet Cash = SGD 45.762 m
 
FEG:
Cash = USD 26.484 m
Debt = USD 208.254 m
=> Net Debt = USD 181.77 m
 
PE Ratio : (BWI vs FEG)
 
BWI:
Share Price = SGD 1.375 (post-bonus) = SGD 1.72 (pre-bonus)
EPS (TTM as at 30th June 2016) = SGD 0.0958 (pre-bonus)
PE (TTM) = 1.72 / 0.0958 = 18
 
FEG (FY2016)
PBT = USD 59.805 m
NPAT= USD 39.821 m = NPATMI (net profit after tax and MI)
EPS = USD 4.92 cent (~ SGD 4.92 x 1.35 = SGD 6.64 cents)
 
Share price = SGD 16.2 cents
 
PE = 16.2/ 6.64 = 2.44       Looks cheap BUT……………
 
PBT of USD 59.805 m is inclusive of the one-off settlement income, net of related expenses, of USD 53.581 million which was in relation to the CHO’s claim 
relating to outstanding charter-hire.”
 
ðPBT (exclusive of the one-off settlement income of USD 53.581 m) = USD 6.224 m (~ SGD 8.402 m)
 
How much tax is to be deducted?
How much non-controlling minority interest is to be deducted?
 
Assumed 10% adjustment for tax and minority interests (should be more)
 
ðNPAT (after tax and MI) = USD 0.9 x 6.224 m = USD 5.602 m
 
ðEPS (After tax and MI)  =  SGD 0.9 cents
 
PE (exclusive of one-off settlement income of USD 53.581 m but AFTER adjustment for income tax and non-controlling minority interests) > 16.2/0.9 = 18
_______________________________________________________________________________________
 
The outlook for the offshore marine sector is bleak.
 
- Oil majors cut Capex and Opex due to slump in oil price
- Deceasing demand for offshore support services
- Excess supply in OSV
- Competition intensified
- Reduced margins
- Low utilization of the fleets
- Charter rates are at depressed levels.
- Realizable asset (vessels) price much lower than carrying value
- Risks of charterers default on payments increasing
- Tight credit line
- Liquidity and cash flow problems deteriorating
- Risk of defaults on interest payment / loan repayments increasing
 
Can FEG survive the “new normal” ?
 
What are the risks of FEG becoming the next “Swiber” or “Swissco”, if the slump in oil price is prolonged?

On the other hand, the outlook and growth opportunities for BWI is much better.....................
 
Which is a better “bet”? BWI or FEG?
______________________________________________________________________________________________________________________________________
Research, research and research - Please do your own due diligence (DYODD) before you invest - Any reliance on my analysis is SOLELY at your own risk.

Find Reply
13-10-2016, 11:56 AM,
Post: #23
RE: Falcon Energy Group
(13-10-2016, 12:05 AM)Boon Wrote:
(07-10-2016, 05:05 PM)Retired@52 Wrote:
(02-07-2016, 05:29 PM)Retired@52 Wrote: Dear Value Buddies,

An Idea to share: (The Magic of percentage)

Investor A bought a share of $1.00 per unit and it drops to $0.10. He lost 90%
Investor B bought the same share at $0.10 per unit and it rises back to $1.00. He gains 900%

Investor A put in $100,000, it became $10,000
Investor B put in $100,000, it becomes $1M.

Both person put in $100,000. One left with $10,000 & the other becomes a Millionaire.

Best World International (BWI) was trading at $1.16 on 25th Sept 2007.
I bought it on 19th Feb 2009 at $0.172 per unit as it was down by 85%
I sold part of it on 8th June 2016 at $1.37 per unit. (Gain 696%)

I used the proceed to invest in 3 different stocks:

1. Bought Accordia Golf Trust for dividend, yield about 12% PA
2. Bought Ezra as it has gone down by 96% from its high.
3. Bought Falcon for growth.

Let us take a look at Falcon.

Share Price on 27th Sept 2009 was $0.99 per share. (Adjusted Historical High)
This stock is now traded at $0.193 (Down by 80%)

According to my records, the company made profit & paid dividends every year from 2010 to 2015.
E&OE
Past Performance is not necessarily indicative of its future performance but may serve as a good guide.

Looking for a repeat of BWI.

I expect:

1) the Annual Report to be out next week.
2) Profitable
3) Pay Dividend

See you in 2 to 3 week's time at the AGM (Likely at the Conference Hall).

Hi Retired@52,

BWI and FEG are completely two different “animals”, but for the sake of fun, let’s do some comparisons…………………….
 
P/B : (BWI vs FEG)

BWI:
Share Price = SGD 1.375 (post-bonus) = SGD 1.72 (pre-bonus)
NAV per share = SGD 32.84 cents (pre-bonus)
P/B = 1.72 / 0.3284 = 5.2
 
FEG:
Share Price = SGD 16.2 cents
NAV per share = USD 34.95 cents per share (~ SGD 34.95 x 1.35 = SGD 47.18 cents)
P/B = 16.2 / 47.18 =  0.34
 
Net Cash (or debt) : (BWI vs FEG)

BWI:
Cash = SGD 48.276 m
Debt = SGD 2.514 m
ðNet Cash = SGD 45.762 m
 
FEG:
Cash = USD 26.484 m
Debt = USD 208.254 m
=> Net Debt = USD 181.77 m
 
PE Ratio : (BWI vs FEG)
 
BWI:
Share Price = SGD 1.375 (post-bonus) = SGD 1.72 (pre-bonus)
EPS (TTM as at 30th June 2016) = SGD 0.0958 (pre-bonus)
PE (TTM) = 1.72 / 0.0958 = 18
 
FEG (FY2016)
PBT = USD 59.805 m
NPAT= USD 39.821 m = NPATMI (net profit after tax and MI)
EPS = USD 4.92 cent (~ SGD 4.92 x 1.35 = SGD 6.64 cents)
 
Share price = SGD 16.2 cents
 
PE = 16.2/ 6.64 = 2.44       Looks cheap BUT……………
 
PBT of USD 59.805 m is inclusive of the one-off settlement income, net of related expenses, of USD 53.581 million which was in relation to the CHO’s claim 
relating to outstanding charter-hire.”
 
ðPBT (exclusive of the one-off settlement income of USD 53.581 m) = USD 6.224 m (~ SGD 8.402 m)
 
How much tax is to be deducted?
How much non-controlling minority interest is to be deducted?
 
Assumed 10% adjustment for tax and minority interests (should be more)
 
ðNPAT (after tax and MI) = USD 0.9 x 6.224 m = USD 5.602 m
 
ðEPS (After tax and MI)  =  SGD 0.9 cents
 
PE (exclusive of one-off settlement income of USD 53.581 m but AFTER adjustment for income tax and non-controlling minority interests) > 16.2/0.9 = 18
_______________________________________________________________________________________
 
The outlook for the offshore marine sector is bleak.
 
- Oil majors cut Capex and Opex due to slump in oil price
- Deceasing demand for offshore support services
- Excess supply in OSV
- Competition intensified
- Reduced margins
- Low utilization of the fleets
- Charter rates are at depressed levels.
- Realizable asset (vessels) price much lower than carrying value
- Risks of charterers default on payments increasing
- Tight credit line
- Liquidity and cash flow problems deteriorating
- Risk of defaults on interest payment / loan repayments increasing
 
Can FEG survive the “new normal” ?
 
What are the risks of FEG becoming the next “Swiber” or “Swissco”, if the slump in oil price is prolonged?

On the other hand, the outlook and growth opportunities for BWI is much better.....................
 
Which is a better “bet”? BWI or FEG?
________________________________________________________________________________________________________________________

Hi Boon,

I see your points. I admired you knowledge. You are always very detailed.

I spend more time in the Golf Course & Range than studying the Individual Company’s details.

I took a small part of the profit I made from BWI to invest in FEG & few other Companies.

If FEG turns turtle, I’m prepared but I hope it turns Multi-Bagger in few years’ time.

Btw, I’m still vested in BWI though much reduced.

Find Reply
16-05-2018, 01:28 PM,
Post: #24
RE: Falcon Energy Group
Completion of the Issuance and Subscription of 70,000,000 Ordinary Shares @ SGD 0.028 per Share

Falcon Energy Group Limited refers to the announcement released by the Company on 9 May 2018 in relation to the proposed subscription of the Subscription Shares pursuant to a conditional share subscription agreement with Mr Wong Fong Fui.

The Company announced that the completion of the issuance and subscription of the Subscription Shares has taken place today.

The gross proceeds from the Subscription is expected to amount to approximately S$1,960,000.

The breakdown of the use of gross proceeds is set out below:

Use of gross proceeds - Percentage
Incidental costs incurred for the Subscription -  3.06%
Coupon payment(s) relating to the Company's existing multicurrency term note programme - 44.64%
General working capital - 52.3%
Total - 100.00%
Specuvestor: Asset - Business - Structure.

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