HupSteel

[paullow]

if it does, then it makes me an idiot for not taking profit of a few hundred k. hehe.

[Bibi]

if it does, then it makes me an idiot for not taking profit of a few hundred k. hehe.

Nah. You are not the only one. We are both idiots though mine is a much lesser few tens of k.

[kuku]

going forward regarding the white paper issue, there will be high demand for steel products in singapore, therefore if hupsteel can slight tune their product orientation then there will be a chance to turn ard nicely. having say tat there is competitors doing in it as well.

So if the demand in steel is okie then long term shldnt be a problem, short term pressure. likely to be there.

[paullow]

results out. could have been worse.
for the quarter eps 0.12. nav 32.68. no dividend declared.

no land redev plans.

i reckon price should hang around 22c.

[lavue]

It wouldn't be a good time to go ahead with land redevelopment now anyway with the government clampdown on the industrial property market.

Well, looking on the bright side, at least they did not report a loss this quarter. The management expects an increase in demand of their steel products from the construction of 50,000 BTOs in 2013-2015. Hopefully, earnings will pick up. Rather than pin their hopes on property redevelopment, which as demonstrated in an earlier post had been constantly alluded to by the management from as early as 2006, a recovery of their core business can truly be something for shareholders to cheer about.

[paullow]

maybe u r rite. but looking at eps quarter on quarter, it seems to have hit a bottom. last quarter eps was 0.05c n this is 0.12c which actually representds a two fold jump.so it might bottom out soon or in the process of bottoming out.

[pianist]

there is no interim dividend this round ..

[Bibi]

I think it has bottomed. I was expecting a small loss but ended the 2Q was better than 1Q. Back in 2002-2003, Hup manage to grow is because it merged with Hup Seng (?) and it focus on oil,gas&marine sector. The bet was right and it paid off. Now, management mention some local oil rig construction has gone overseas. I am not sure whether this will mean lesser business or smaller margin if they sell to overseas. I think its best days in 2007 were over at least for the next 10+ years.

I was actually hoping for a 0.5 cent dividend but did not happen. If FY 2013 also no dividend, then that will be the first time in 10 years (or history ?) Hup didnt pay any dividend. Well, at least Hup did aggressively buy back its shares for the past few years.

[pianist]

where is my hup seng HUAT

[paullow]

hi bibi, my.view is similar. at sti3250, i think hup is attractive but i guess the price had factored it the facts discussed. i think unless i find a better buy, i likely stay put. i do hope the mx can turn things around. cosmosteel is doing well. if i not wrong, its chief worked for hup 2nd gen for many yrs n left to start cosmosteel with his brother in law.
but i think hup is still stable currently with 43m cash n its freehold lands n no debt. it just needs to turn its steel biz arpund and it must work hard n work according to the changing times.