HupSteel

[Tritium]

The sum did not really work out for Hupsteel. Not sure the value proposition...

What's wrong with your sum? Looks good to me.

Your calculated value of 5.7c is about 19% of the current BVPS of ~30c.

Debt is almost non-existent. No interest rate risk compared to reits. (Not that NIRP will ever stop anyway. the west is screwed and possibly us in future.)

Looking at its PL for the past several years. The entity has been turning a profit every year, even during the financial crisis. Not sure how many MNCs can beat that.

The key issue is not their properties but rather whether they can sustain their steel biz which is the main cashcow or whether they can diversify. If FCF starts going negative, then there's a big problem.

[ianphoon]

what tritum said is true. in addition there seem to be regular dividends in this counter.
2013 earnings were so weak yet still able to pay out interim 0.5 & final 0.5c.
2014 so far no interim dividend
with so much cash per share, i would be surprised if final dividend will be missed this year, breaking its dividend giving history.
i think most buddies are keenly awaiting this end august reporting to see its earnings & more impt for dividend announcement.

[Bibi]

what tritum said is true. in addition there seem to be regular dividends in this counter.
2013 earnings were so weak yet still able to pay out interim 0.5 & final 0.5c.
2014 so far no interim dividend
with so much cash per share, i would be surprised if final dividend will be missed this year, breaking its dividend giving history.
i think most buddies are keenly awaiting this end august reporting to see its earnings & more impt for dividend announcement.

2013 is the only year it paid out dividends which exceeded its eps. Throughout its dividend history if u study it carefully, it never gives more than eps. 2013 they miss 2Q dividend and realized that its share price couldnt hold. Hence they gave out the dividend on 3Q. This is just my guess.

With its share price so stable, i got a feeling there might be no dividend for 2014 unless its eps can cover 0.5ct dividend. CEO has also indicated they need the cash to be nimble and increase inventory when the demand for steel picks up.

Vested.

[brattzz]

I don't think that HS will issue dividends JUST to hold up it's share price, afterall, the market can be crazy at pricing sometimes... rather, i would think that HS issue dividends based on the need of the family, afterall, it IS a family biz...

So i am expecting a .75cts to 1cts dividend! of cos, i could be WRONG! and if indeed there is no dividends given, i will consider it as prudent management in a challenging biz...

[ianphoon]

hi bibi,
not really true that this entity doesnt pay out more than its eps.
go to post 233.
sometime in 2000, eps negative yet still pay dividend.

recently vested and still doing research.

[Curiousparty]

At current share price above 20 cents, I don't see value yet. 15-18 cents will be great.

[brattzz]

Mmmm, i was hoping for a 1ct dividends... hehee! hope i get it!

[Bibi]

Mmmm, i was hoping for a 1ct dividends... hehee! hope i get it!

Did u ask yourself why it didnt pay a dividend in 2Q which historically it used to do so and why it didnt pay a dividend in 3Q? I think if it pay a 0.5cts dividend, shareholders will be grateful. I am prepared it might not pay out any.

Asia Enterprise results out and its so so. Recovery is not there yet.

[Curiousparty]

Trying to pay a higher dividend when the company can ill-afford to do it isn't doing any good to shareholders of company.

The industrial premises are still being built (and the company is really taking its own sweet time to do so).
Has the company started to market the units? What are the plans?
We are not even at the final stage where "units are all fully sold in one single day (i.e. selling like hot cakes)".

For me, this counter is still very far from realizing its dreamy "RNAV"...

[Bibi]

Yeh 1 cent dividend. Never expected any and yet got it really makes me happier