Nam Lee Pressed Metal

[Jon-san]

Wow, I look away for just that few days and suddenly, I see this counter charging? Any guesses, anyone?

Edit: Lightly Vested.

[brattzz]

don't think it any major charging... just a couple of value investors collecting...!

[Musicwhiz]

don't think it any major charging... just a couple of value investors collecting...!

Possibly, but value investors should keep quiet when they collect. Otherwise it will push the price up further!

[SLC81]

its a pleasant surprise to me when i saw Nam Lee share price has gone up 20% in few days but due to its thin float, it could go down as much in few days too. As far as value is concerned, i still believe this counter is still under-valued

[SLC81]

Nam lee has just release 3rd quarter result. 9month EPS = 4.3 Cents, Lots of cash and negligible debt.

[dydx]

Finally I have the time today to review Nam Lee's 3Q (for 9 months ended 30Jun12) results announcement (first released on 14Aug12).....
http://info.sgx.com/webcoranncatth.nsf/V...A002DF508/$file/NamLee_Q3Results2012.pdf?openelement
For the first 9 months, Nam Lee has posted a higher NP of $10.179m (+39.5% yoy), which translates to an EPS of $0.043 (based on the latest 236.609m issued shares as at 30Jun12). NAV/share as at 30Jun12 has risen to $0.457, which is backed by $0.212 of net cash; the actual cash backing could be even higher if we recognize the fact that in the latest B/S Nam Lee also has $0.911m in quoted securities and $22.756m in trade debtors which are funded by its own equity.

When compared with last FY11 full-year NP of $10.689m.....
http://info.sgx.com/webcoranncatth.nsf/V...7003F70BF/$file/FullYrResults30Sept2011.pdf?openelement
, and unless the business suffers an unexpected setback in 4Q, we can reasonably expect Nam Lee to post a record full-year NP in this FY12 (ending 30Sep12) - and for this my guess is $13.5m (simply based on $10.179m x 4/3), which translates to a full-year EPS of $0.057 for FY12. We can also reasonably expect Nam Lee's NAV/share as at 30Sep12 to hit close to $0.471.

2 relevant questions:
(1) Would Nam Lee's BOD be prepared to reward the shareholders a higher total for FY12's Final + Special dividends, than the total $0.015/share paid in the last 2 FYs?
(2) Would Mr Market continue to re-rate Nam Lee's share price - last done at $0.295 - upwards towards its justified fair value, bearing in mind of the coming expected higher full-year NP for FY12 as well as the usual year-end dividends?

Perhaps it is also timely now to take a tour of Nam Lee's updated website.....
http://www.namlee.com.sg/

[SLC81]

There were quite high interest on Namlee recently. 2.3 millions share changed hand in 30/July, 1.27 Mil on 17Aug and yesterday 330K.
It is unusual for Namlee as this volume level were not seen for many years so someone must be buying in. If this continue, $ 0.34 level before FY result is possible.

[dydx]

There were quite high interest on Namlee recently. 2.3 millions share changed hand in 30/July, 1.27 Mil on 17Aug and yesterday 330K.
It is unusual for Namlee as this volume level were not seen for many years so someone must be buying in. If this continue, $ 0.34 level before FY result is possible.

I suppose the booster in this case would have to be people buying in anticipation of the expected good FY12 full-year results to be released in the latter part of Nov12 together with a possible higher Final dividend, plus the fact that the current massive HDB building programme will last till at least 2015 - and Nam Lee as an established supplier will be a direct beneficiary.

[header]

Hi
Anyone has the IR contact email address? Are they responsive? Tks.

[ngcheeki]

Hi,
The Nam Lee Pressed Metal IR Contact: Lim Ken Guan | ken.lim@namlee.com.sg. The IR is pretty responsive in answering all the queries I had.