Thread Rating:
  • 1 Vote(s) - 5 Average
  • 1
  • 2
  • 3
  • 4
  • 5
BBR Holdings
13-10-2017, 03:12 PM.
Post: #281
RE: BBR Holdings
(13-10-2017, 02:50 PM)ksir Wrote: The 2 parameters are just to point 2 out of the MANY.
To invert, why do you think the Management interest is aligned with Opmi?

To me, to point out few more what they have done:
1. Take “exciting” construction projects with tiny or negative margin, guess you can name a few of them better than i could.
I’d say Management interest is in “enriching” their “boast” list and not optimising profit or sustainable business for OPMI (study on TTJ as compared to Yongnam points out which is more aligned with opmi).
2. Get into hype (greentech, ppvc etc)
Those could be “future” but first mover don’t necessary have the advantage but surely have to bear the cost.
Independently, those decisions are NOT bad to opmi but if we compared to the alternative of buying back shares at S$0.16 (at the time when they made those decision), the result is damaging to all shareholders.
Management with interest alignment with shareholder would compare the return of buying back shares (which is ridiculously high bar) as compared to any projects that they are trying to venture into.

I reduced my stakes once it’s clear that the interest of management is not aligned with opmi.
I kept some of my stakes because it is damn undervalued and hoping that some outside parties will have the same view and come in to disrupt the status quo! Which probably is currently wip.

Ah yes.
Thanks for bringing these up.
Couldn't agree more with you on these points, as this is what I mean too.
We have to look at everything in totality, all these subtle information added up together, tells us about the management's alignment with MI.
Unless you've a personal errr "experience" with the management, I think anyone would agree the threat automatically qualifies the management as being "not very shareholder friendly"!

Having said all that, I think we have to give credit where credit is due.
Since my correspondence with them, they have initiated a massive share buyback, gotten the chairman of Pintaras on board, and he's now the 2nd largest shareholder.
I think it'd be unfair to say why didn't they buy back when it was at $0.16. They can't time the markets any better than we do.
Not to mention they'd have to take into account their current cash and future capital requirements before initiating a buy back program.
So we will have to let that slide.
So ironically, despite my comments, if we look at management's actions over the past 12 months, they've actually been extremely shareholder friendly. (like I said, give credit where it's due)

This is something I was not expecting. They have had no track record of share buybacks, and we can say it's undervalued, and any valuebuddy here can crunch some numbers and arrive at the same conclusion, but the fact is they've never bought back their undervalued shares.
Till now.
And now, their buy back is for an extremely extended period of time, is very aggressive, and they seem determined to support the share price.

Now, the other thought I had initially, was that perhaps Dr Chiu's purchases were not welcome. Their buy backs were to defend against a hostile takeover, but looking at the share buyback activity vs Dr Chiu's purchases, I am convinced that that's not the case.
In any event, if the management were worried, they could've issue options to themselves, and/or started a poison pill type of defence, similar to what several US companies do in anticipation of a hostile accumulation of their shares.
=========== Signature ===========
https://thumbtackinvestor.wordpress.com/

Find Reply
17-09-2018, 08:34 PM.
Post: #282
RE: BBR Holdings
BBR Holdings secures S$60 million worth of general construction and specialised engineering contracts

Highlights :
* Include a S$39 million contract from the Ministry of Social and Family Development
* Expertise in PPVC technology, foundation and infrastructure engineering provide BBR its competitive edge
* Contracts expected to contribute to revenue in 2H2018 till 2020

More details in http://infopub.sgx.com/FileOpen/BBR_Awar...eID=525352
=========== Signature ===========
Specuvestor: Asset - Business - Structure.

Find Reply
11-11-2019, 07:10 PM.
Post: #283
RE: BBR Holdings
BBR awarded two contracts for the construction of solar PV systems

BBR Holdings (S) Ltd today announced that its wholly-owned subsidiary, BBR Greentech Pte Ltd has been awarded two contracts for the construction of solar photovoltaic (PV) systems. The first is a tender by National Water Agency PUB, for two 1.5 megawatt-peak (MWp) floating solar PV systems on Bedok and Lower Seletar reservoirs, while the second is for the private sector for the construction of solar panels on the rooftops of two industrial buildings.

For the project for PUB, BBR will build floating solar PV systems that will directly power Bedok Waterworks, as well as the raw water pumping stations at both Bedok and Lower Seletar reservoirs. Together with an existing 0.5 MWp rooftop solar array at Bedok Waterworks, these systems will produce enough green energy to satisfy 30% of the installations’ total energy requirement. Additionally, the floating solar PV systems can potentially generate enough energy to power around 800 four-room HDB flats, and reduce PUB’s carbon emissions by about 1.5 kilotonnes annually.

For the second contract, BBR will undertake the design, supply, and installation of two PV systems - 0.78 MWp and 2.2 MWp – on the rooftops of industrial buildings at Marsiling and Benoi Sector.

More details in https://links.sgx.com/FileOpen/BBR_Award...eID=585267
=========== Signature ===========
Specuvestor: Asset - Business - Structure.

Find Reply
28-06-2020, 09:19 AM.
Post: #284
Rainbow  C19 update: BBR Holdings
26 June 2020  eAGM minutes held on 23 Jun 2020
https://links.sgx.com/FileOpen/BBR-Minut...eID=621257

The minutes refers to published QnA on 22 June 2020.
http://bbr.listedcompany.com/newsroom/20...0LQF.1.pdf
The Group will be making submission to BCA to restart the projects and will address these requirements. Meanwhile, activities at the project sites are limited to housekeeping, safety and environmental maintenance works.

As for the Group’s property development business, Covid-19 has also caused a delay in the sales launch of our development, The Linq @ Beauty World.

Malaysia was under the Movement Control Order (“MCO”) since 18th March 2020 and similarly construction activities were suspended. This was slightly eased by the Conditional Movement Control Order (“CMCO”) implemented on 4th May 2020 whereby certain industries and businesses were allowed to resume operation under strict conditions such as permitting only 50 % workforce and adopting social distancing of 1.5 metre. However, for the Construction Industry, it is very challenging to comply as all workers (both foreign and local) will have to go through Covid-19 screening test before they are able to resume work. Due to the large number of foreign workers required to be screened for Covid-19, most of the site were not ready to resume work. With the implementation of Recovery Movement Control Order (“RMCO”) on 10th June 2020 whereby most businesses are permitted to resume operation without much restriction and even inter-state travel are permissible, the construction activities at all the project sites are slow to start

Wear mask and keep your distance when going out, valuebuddies.

Find Reply


Forum Jump:


Users browsing this thread: 3 Guest(s)
Valuebuddies.com | Return to Top | Lite (Archive) Mode | RSS Syndication | CONTACT US: n......@valuebuddies.com