PNE Industries

[TUBInvesting]

Been holding this for a relatively long long time... like 3 years... its dividend has funded almost 50% of my cost (aga aga estimation) or more.

Love this stock and congrats to those who hold them.

I see this as a company without any "colourful" business.. thus many people actually ignore it previously.

http://tubinvesting.blogspot.sg/

well management may be malaysian, but they know how to do business. Divesting most of PNE PCB stake @ $1 was a good move last year, though somehow they did not manage to divest all, its only trading around 50c now. And now divest the loss making China operation at a profit another good move. 

This year business may soften but the recent completed sale should be showing up in the next report and there should be good dividend coming up end of this year which should get punters coming in and pushing the price up..

Yup. Similar sentiments, I do expect the price to go up when they announce FY results.

Price go up before the FY results. Lol must be got insider leak. Today only 16.8 lots already pump until 84.5cents. I am expecting another bumper dividend and hopefully followed by some glowing reports from those analyst. The shares seem to be quite tightly held, so $1 should not be difficult to get there.

-v-

This is very true indeed. I am also wondering who is pushing them up yesterday. Anyway, being a shareholder, I am wondering if its "better" to sell even when it hits $1. Similarly to TTJ, its hard to find such a good managed company in SGX. Furthermore with "hopefully high dividend yield" and my significant margin of safety, I think I will never sell this stock at whatever price. Unless there are some fundamental changes....

<Vested>

[Jack EL]

Been holding this for a relatively long long time... like 3 years... its dividend has funded almost 50% of my cost (aga aga estimation) or more.

Love this stock and congrats to those who hold them.

I see this as a company without any "colourful" business.. thus many people actually ignore it previously.

http://tubinvesting.blogspot.sg/

well management may be malaysian, but they know how to do business. Divesting most of PNE PCB stake @ $1 was a good move last year, though somehow they did not manage to divest all, its only trading around 50c now. And now divest the loss making China operation at a profit another good move. 

This year business may soften but the recent completed sale should be showing up in the next report and there should be good dividend coming up end of this year which should get punters coming in and pushing the price up..

Yup. Similar sentiments, I do expect the price to go up when they announce FY results.

Price go up before the FY results. Lol must be got insider leak. Today only 16.8 lots already pump until 84.5cents. I am expecting another bumper dividend and hopefully followed by some glowing reports from those analyst. The shares seem to be quite tightly held, so $1 should not be difficult to get there.

-v-

Low volume spike in share price before FY result is worrisome, it is a signal to sell before result is out. I would prefer a steady increase of price with good volume.

[Radon]

Hi Jack,
why will low volume spike be worrisome?

[Jack EL]

Hi Jack,
why will low volume spike be worrisome?

You just need $100 to buy 100 share at $1.00 and you can give others the impression the share price has spiked. Before FY result, this cheap way of manipulation will create an impression result is good and goodies may be given. Other investors may participate further hence pushing the price higher which these "spiker" may then unload their shares as they know share price will drop when poor result announce.

If the result is truly good and there is insider leak, given ample time shouldn't the "insider" be buying slowly at a lower price? So the subsequent share price movement before result announcement is important. Steady increase of price and volume would be viewed as positive.

IMHO, I always view low volume spike in share price as noises, and sometimes caution.

[weijian]

This is very true indeed. I am also wondering who is pushing them up yesterday. Anyway, being a shareholder, I am wondering if its "better" to sell even when it hits $1. Similarly to TTJ, its hard to find such a good managed company in SGX. Furthermore with "hopefully high dividend yield" and my significant margin of safety, I think I will never sell this stock at whatever price. Unless there are some fundamental changes....

<Vested>

Something doesn't sound right with your definition of "margin of safety". In Ben Graham's terms, a margin of safety is defined as the gap between price and value, so price definitely plays a part here. Margin of safety comes into play when one determines how much to pay for the stock and no matter how I look at it, I can't make any sense that it prevents me from selling at whatever price.

[BlueKelah]

Hi Jack,
why will low volume spike be worrisome?

You just need $100 to buy 100 share at $1.00 and you can give others the impression the share price has spiked. Before FY result, this cheap way of manipulation will create an impression result is good and goodies may be given. Other investors may participate further hence pushing the price higher which these "spiker" may then unload their shares as they know share price will drop when poor result announce.

If the result is truly good and there is insider leak, given ample time shouldn't the "insider" be buying slowly at a lower price? So the subsequent share price movement before result announcement is important. Steady increase of price and volume would be viewed as positive.

IMHO, I always view low volume spike in share price as noises, and sometimes caution.

PNE has been gaining since the announcement of the sale of the loss making PNE Print. That sale was not in the half yearly. I am expecting significant profit from this one-off contributing to another round of special dividend. The profits should be up too as they will not be hampered by the losses that came in from PNE Print previously.

PNE INdus still has some shares in PNE PCB in Msia which they failed to sell off last time. Since the MOU with JYST chinese company, PNE PCB business has actually bounced back. Given that some of the other PCB companies and semicon companies are doing well, PNE PCB should have pretty good results too in the next financials which will benefit PNE a little.

PNE is also impacted by fluctuation in USD. The strengthening of USD this past quarter on expectation of a rate rise should have a positive impact on the results as well.

Much like TTJ, with very little lots available in the sell queue, any small spike in investor interest will see the price rise very quickly.
Actually since 60cent level till now there has not been much volume. The sell queue has also been pretty empty. So most of us VB investor have probably already bought in below 70cents and none of us are going to sell until the FY result is out with the bumper cash coming in. Unlike other companies, PNE boss has shown he is pretty generous with dividends, most recent example is the interim special payout, which is almost all their earnings for the first half. 

Around SGD 11.9c  cash will be coming into the company from the PNE print sale for sure in the FY results so how much do you think they will pay out?

I will be selling of course when the volume next spikes and leave some free shares to see what happens in the future when the TANs finally decide they want to privatise or sell off this company.

[Jack EL]

Wow 3 cents!!!

Let's see the share price tomorrow.

[cyclone]

Financial results for the year ended 30 September 2016 have been released : http://infopub.sgx.com/FileOpen/PNEInd_%...eID=430968

3 cents per share final dividend for the current financial year ended 30 September 2016.

[TUBInvesting]

This is very true indeed. I am also wondering who is pushing them up yesterday. Anyway, being a shareholder, I am wondering if its "better" to sell even when it hits $1. Similarly to TTJ, its hard to find such a good managed company in SGX. Furthermore with "hopefully high dividend yield" and my significant margin of safety, I think I will never sell this stock at whatever price. Unless there are some fundamental changes....

<Vested>

Something doesn't sound right with your definition of "margin of safety". In Ben Graham's terms, a margin of safety is defined as the gap between price and value, so price definitely plays a part here. Margin of safety comes into play when one determines how much to pay for the stock and no matter how I look at it, I can't make any sense that it prevents me from selling at whatever price.

Hm... I agree the words were used inappropriately. Just trying to state the difference in the current price and my average share price.

[BlueKelah]

Looks like Mr. Market, just like me, wasn't impressed with the 3cents, even though it is a bump up of the the base dividend from 2c last year for a total of 8c this year.

Though EPS , without one time gain of 8c, was slightly more than 11c, which is pretty good considering revenue was flat, amidst the challenging business environment globally.

Looks like we need an analyst bump for it to move any higher.

-v-