HupSteel

[paullow]

decided to do a proper presentation for the benefit of some forumers:
(but still please do ur own research)

edited at home using a pc.


i had some free time recently n decided to do some research on the subsidiary n acquisition of hupsteel. 


Thong Seng Metal Pte Ltd - anyPages Directory - Singapore ...

www.anypages.com/profile.aspx?lang=0&ccode=sg...0...
Thong Seng Metal Pte Ltd. Main Office. Address: 168 Tyrwhitt Rd, Singapore207572, Singapore. Phone: +65-62922931, +65-62940127. Fax: +65-62924072 ...

• Thong Seng Metal • Singapore •

www.tuugo.sg/Companies/thong-seng-metal/0250003072686
Thong Seng Metal ☆ 170 Tyrwhitt Road, Singapore, 62940127 ☆ Hardware : Retail, Metal & Metal Products, Stainless Steel Fabricators, Stainless Steel ...

HupSteel Limited - Management Staff

www.hupsteel.com/managementstaff.html
PECK KIM GEE. Project Development Manager. 3. JOE LIM KIM SAN. Executive Director Thong Seng Metal Pte Ltd ... 5. CHAI CHO LIM. Sales Manager ...



physically there are a row of shophouses along nos 168-170 tyrwhitt road with a common heading "hup seng huat". they are dated 1951. year is just after hup seng huat existence. (see above)

* But alas, one of them is tenanted to a funeral related business.

Second point to highlight:

n hup seng huat acquired hoe seng huat in 2003/4. this includes a godown at lavender. no mention of disposal of this ppty was found. but a websearch revealed that this could be a site of historical significance.

http://sg.pagenation.com/sin/Hoe%20Seng%...1.3124.map

so hupsteel could have some hidden gems under its subsidiaries.

But I must assert thaI I CANNOT confirm if Hupsteel owns those properties. but I could not find any mention to say that hupsteel or hup seng huat sold those properties.

must companies disclose the assets under their subsidiaries?
could anyone advise?


thus, hupsteel could well be worth more than i thought initially.


vested.

pls do u own research.

buy n sell solely at ur own risk

[kuku]

oh ur post n hup kana dim at 225.. hahah think funeral ppl don like haha..

Joke a side the accumulation like cant hold firm... cui... but shld be within contra period even if its at t+7... mmm so don think will be healthy in short term.. unless it hold n eat back..

[specuvestor]

so hupsteel could have some hidden gems under its subsidiaries.

But I must assert thaI I CANNOT confirm if Hupsteel owns those properties. but I could not find any mention to say that hupsteel or hup seng huat sold those properties.

must companies disclose the assets under their subsidiaries?
could anyone advise?


thus, hupsteel could well be worth more than i thought initially.


vested.

I don't follow hupsteel but IIRC associate assets are not listed in the AR but subsi are. So if there is any gems you should dig under the associates, or even equity holding like Baker Tech stake in PPL Shipyard.

[paullow]

thanks specuvestor.

my gut feel is that the row of shophouses along tyrwhitt road is connected to hup seng huat. because one of them, ie two doors away from the funeral business, is selling sealants and lubricant products similar to what I find on the hupsteel website.

thanks!

[kuku]

i think 225 holding well.. so not so bad for whole day trading... maybe they doing rolling

[mulyc]

It definitely looks like a good support level.

[paullow]

agree, seems like 22.5 is strong support from TA point of view.

but i think this stock to reap the most out of it, one has to take a long position.

a turnaround soon may not be a distant possibility, based on quarter to quarter statements :

- eps seemed to seen the bottom 2 quarters ago.
- cash position actually improved (but that is at expense of omitting a dividend)

I do hope 6 kim chuan land would be redeveloped soon, cos with that, NAV would likely be revised upwards.


those who keep a long position would likely be rewarded richly when the time comes.....

[mulyc]

Hopefully. It does look promising especially if they can unlock the values of their property segment. Another possible catalyst is the recovery of steel prices as the US housing market recovers.

[paullow]

Hopefully. It does look promising especially if they can unlock the values of their property segment. Another possible catalyst is the recovery of steel prices as the US housing market recovers.

keppel n sembm are its traditional partners. with huge orders in the pipeline, i think hupsteel shd move soon.

[mrEngineer]

Paullow, how do you know that Keppel and semb corp are Hupsteel customers? I do not follow Keppel and semb corp and South East Asia o&g developments too much but I would assume that most of the manufacturing activities of offshore o&g equipment would be located nearer to the customer e.g. Brazil and there are not much offshore activity in this region. Please correct me if I am wrong.