Review through the Shares Investment book

[mrEngineer]

Hi all fellow buddies,

I just scanned through the latest edition of Shares Investment and shortlisted some companies before going to read through the ARs. Basically my scan criteria was consistent ROE above 10% and PB of less than 2 but above 1.0. Pls feel free to give any comments/advice for any companies below. Thanks!

Company / Industry
Lian Beng / Construction
BRC Asia / Steel
NSL / Chemical & Const
Hiap Seng / Rig construction
SMB United / Power & Switchgear
Valuetronics / OEM & ODM
CWT / Logistic & Transport

[mrEngineer]

Some updates on information found on this companies

*Lian Beng - Current order book of 800mil+ with Scala project win but low dividend..

BRC Asia - Manufacture of steel mesh/grids used in construction. Performance conforms to construction cycles. Rev decrease but NI increase due to low steel prices.

*NSL - Worldwide company for concrete and mortar, environmental chemicals and containers engineering

*Hiap Seng - Top 200 company in Forbes Asia Pac ranking

SMB United / Power & Switchgear - No analyst coverage. Competitors & market share unknown. Venturing into green energy and rides (but lags) along construction cycles

*Valuetronics / EMS OEM & ODM - Small player in OEM industry compared to the larger players. No niche capabilities. Telecomms revenue may slowly erode due to substitution of mobile phones. Only highlight is that Philips Electronics is one of the major customer for electronic toothbrush and Luminare. Would be interesting to know how the company is going to place itself strategically ahead in terms of product qualifications in the future. Should be riding along the electronic or semicon boom. Lots of info can be found here: http://research.sgx.com/reports/rpt_view.pl?id=5061

CWT - Low dividend yield => maybe not shareholder friendly. Upside potential limited due to definite fall in ROE for subsequent years

* indicates my top choices

[Drizzt]

you should carry on this thread man. its very useful.

[Bibi]

Valuetronics like to issue quite substantial share options to its management every year.