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(24-04-2015, 05:38 PM)davisng Wrote: Hi, Everyone, Buy one & get one free!
Teckwah's new building is worth at least the present price of 0.37/s (total $86.4m for gross floor area of 23000 sm) and its business is making some money especially for the non-print seems not too bad earning 10m pre-tax in Y 13&14.
And Thomas is pretty smart and powerful who commits to work for you.
Company is paying dividends.
But share prices keeping down. Don't know why.
I am not sure that shareholders/investors are getting Teckwah's operating businesses free or the new HQ building Pixel Red free, because both the businesses and the valuable property asset are intertwined. However, I agree with you that each Teckwah share is backed by solid and valuable operating fixed assets - including Pixel Red - proven profitability and positive operating FCF, a strong B/S, and a solid customer base including many prime-name MNC's.
I suppose it is timely to review the latest FY14 AR, look into Teckwah's long business history and growth story, and also the group's highly readable English/Chinese newsletter "CaiXun" or 彩讯...
http://www.teckwah.com.sg/Upload/AnnualR...372601.pdf
http://www.teckwah.com.sg/Milestones
http://www.teckwah.com.sg/Upload/Newslet...311472.pdf
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(24-04-2015, 06:20 PM)dydx Wrote: (24-04-2015, 05:38 PM)davisng Wrote: Hi, Everyone, Buy one & get one free!
Teckwah's new building is worth at least the present price of 0.37/s (total $86.4m for gross floor area of 23000 sm) and its business is making some money especially for the non-print seems not too bad earning 10m pre-tax in Y 13&14.
And Thomas is pretty smart and powerful who commits to work for you.
Company is paying dividends.
But share prices keeping down. Don't know why.
I am not sure that shareholders/investors are getting Teckwah's operating businesses free or the new HQ building Pixel Red free, because both the businesses and the valuable property asset are intertwined. However, I agree with you that each Teckwah share is backed by solid and valuable operating fixed assets - including Pixel Red - proven profitability and positive operating FCF, a strong B/S, and a solid customer base including many prime-name MNC's.
I suppose it is timely to review the latest FY14 AR, look into Teckwah's long business history and growth story, and also the group's highly readable English/Chinese newsletter "CaiXun" or 彩讯...
http://www.teckwah.com.sg/Upload/AnnualR...372601.pdf
http://www.teckwah.com.sg/Milestones
http://www.teckwah.com.sg/Upload/Newslet...311472.pdf Thanks for information! One thing waiting for is for company to start buy-back its shares. The price downward trend will be turn! As smart as Thomas, this day will be coming.
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A solid Q1 result!.....
http://infopub.sgx.com/FileOpen/FirstQua...eID=349487
With the completion of relocating the main Singapore operations to self-owned Pixel Red and the pharma-packaging operation to Iskandar, the realised cost savings in recurrent rental expenses on premises and labour costs are now visible. Business volume and revenue are also on the way up which is a positive indication of the Malaysia/SG operations now running steadily again. It looks like further improvements in business volume and profitability can be anticipated.
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2Q result just out.....
http://infopub.sgx.com/FileOpen/SecondQu...eID=364284
Another quarter of solid performance! 1H's PBT at $8.555m (+48.3% YoY) is already 68.5% of FY14's full-year PBT of $12.492m, and 1H's NP at $6.244m (+69.4% YoY) is already 68.1% of FY14's full-year NP of $9.173m. TeckWah has applied a big portion its positive FCF to pay down debts taken on to finance its new HQ building Pixel Red. It looks like FY15 will be a good year for TeckWah.
A $0.005/share Interim dividend (FY14: $0.005/share) declared.
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Today, against an overall SGX market of doom and gloom, Teckwah bucked the trend and advanced $0.02, up 5.9%, to close at $0.36. It is indeed gratifying!
Against the latest (as at 30Jun15) NAV/share at of $0.5686 - which is before accounting for the hidden value in the brand-new HQ building Pixel Red, and business/customer goodwill - Teckwah remains a very under-priced counter and listed SG enterprise.
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Teckwah is gone case, buy at your own peril 
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(22-08-2015, 05:06 PM)Almightygod Wrote: Teckwah is gone case, buy at your own peril
What's the basis of your assertion?
I should point out that Teckwah has been paying out dividends every year since listing in 1994, and twice dividends a year totalling $0.015/share in the last 5 FY's since FY11. Share price wise, Teckwah actually out-performed the STI by some 5% in the last 6 months. This performance is not bad at all!
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(23-08-2015, 12:01 AM)dydx Wrote: (22-08-2015, 05:06 PM)Almightygod Wrote: Teckwah is gone case, buy at your own peril
What's the basis of your assertion?
I should point out that Teckwah has been paying out dividends every year since listing in 1994, and twice dividends a year totalling $0.015/share in the last 5 FY's since FY11. Share price wise, Teckwah actually out-performed the STI by some 5% in the last 6 months. This performance is not bad at all!
I usually pay no attention to one liner post with only opinion, but no supporting detail. 
“夏则资皮，冬则资纱，旱则资船，水则资车” - 范蠡
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I am vested in Teckwah for with an additional reason. Teckwah got Singapore Quality Award since 2006, got it again in 2011, and possibly will retain it in 2016 (it is valid for 5 years).
The criteria for Singapore Quality Award include: Leadership, Planning, Information, People, Processes, Customers and Results. Unlike some other quality awards overseas, SQA actually takes into account of sustainability of business aka the profit - no such thing as excellent processes and products yet have no customers.
My believe is that people takes care of process, process takes care of product, product takes care of customer, customer takes care of profit, and profit will take care of shareholders if the decision makers allows it.
SQA does plenty of the dirty works on the operation, so I only need to look at the financial statements and how do they handle the capital.
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There are dark clouds forming over Teckwah. Their single biggest Non Print customer has been acquired by a US MNC. Once the due diligence and other legal stuff are finalized, there is a very high chance that the acquiring company will take over all the existing Teckwah customer's operations and consolidate to save costs.
The whole company rests on Thomas Chua with no clear succession plans in place, or perhaps I should say capable successor identified. But Thomas is still in good health and hopefully he can continue to lead for some years to come but the sheer personality and influence of the man may also hinder the succession. Especially if the new Chairman is from within the ranks.
Disclosure : I am vested in Teckwah but small number of shares only.
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