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Memtech International
22-11-2016, 11:21 AM,
Post: #101
RE: Memtech International
Much improved 3Q results (posted two weeks ago), although the year to date still dragged down by 2Q. A little recent bounce as a result.

http://infopub.sgx.com/FileOpen/Memtech2...eID=428749

Also recently recommended by CIMB Securities, based on report in the Edge.

Memtech used to get reasonable coverage in VB, but seems to have dipped below the horizon since the profit warning earlier in the year (before 2Q).

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22-11-2016, 01:37 PM,
Post: #102
RE: Memtech International
(22-11-2016, 11:21 AM)Dosser Wrote: Much improved 3Q results (posted two weeks ago), although the year to date still dragged down by 2Q. A little recent bounce as a result.

http://infopub.sgx.com/FileOpen/Memtech2...eID=428749

Also recently recommended by CIMB Securities, based on report in the Edge.

Memtech used to get reasonable coverage in VB, but seems to have dipped below the horizon since the profit warning earlier in the year (before 2Q).

Previously had a good run with this one but cashed out when it went above NAV after turnaround from loss making.

[Notwithstanding the improved performance, the overall market conditions in China remained weak in 3Q2016 as reflected in the stagnant GDP growth of 6.7% and declining imports and exports. The Group expects these conditions to persist for the rest of 2016.]

It interesting mgt. feels the GDP 6.7% is stagnant. LOL that number would be impressive in most developed nation economies.

In any case, it seems the business environment over there is not that good at the moment and will probably not be improving as exports decline so there is quite some macro risk with the sector memtech is operating in.
"I love Taiwan"

http://thebluefund.blogspot.com/
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09-01-2017, 03:17 PM, (This post was last modified: 09-01-2017, 03:47 PM by BlueKelah.)
Post: #103
RE: Memtech International
Selling some factories and land for profit. one time gain to EPS of SGD3.3c and cash pile will increase by SGD8.1m. NAV will be SGD $1.15 by then.

The Board of Directors of Memtech International Ltd. (the “Company”) and together with its
subsidiaries, the “Group”) wishes to announce that the Group’s wholly owned subsidiary, Huzhou
Memtech Electronic Industry Co., Ltd (the “Vendor”), has, on 29 December 2016, entered into a sale
and purchase agreement (the “Agreement”) with Zhejiang Add Auto-Parts Co., Ltd (the “Purchaser”)
for the sale of two pieces of its land located at No. 328 Guangyuan Road (“Asset A”) and No.181
Chuangye Avenue (“Asset B”) respectively, in Huzhou City, the People’s Republic of China
(collectively, the “Assets”) as described below for an aggregate cash consideration of RMB 41,000,000
(inclusive of value-added taxes on land and property) upon the terms and conditions of the Agreement
(the “Disposal”).

thinly traded and unloved again, tempted to accumulate before 4q results out, but STI is up up up, no chance...
"I love Taiwan"

http://thebluefund.blogspot.com/
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09-01-2017, 05:00 PM, (This post was last modified: 09-01-2017, 05:02 PM by hh488.)
Post: #104
RE: Memtech International
(22-11-2016, 01:37 PM)BlueKelah Wrote: Previously had a good run with this one but cashed out when it went above NAV after turnaround from loss making.

[Notwithstanding the improved performance, the overall market conditions in China remained weak in 3Q2016 as reflected in the stagnant GDP growth of 6.7% and declining imports and exports. The Group expects these conditions to persist for the rest of 2016.]

It interesting mgt. feels the GDP 6.7% is stagnant. LOL that number would be impressive in most developed nation economies.

In any case, it seems the business environment over there is not that good at the moment and will probably not be improving as exports decline so there is quite some macro risk with the sector memtech is operating in.

Hi BlueKelah

I thought Memtech price all the while below NAV?  When did it hit NAV & above?

Current NAV is abt USD 77 cts if not wrong?  Thanks.

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09-01-2017, 06:38 PM,
Post: #105
RE: Memtech International
(09-01-2017, 05:00 PM)hh488 Wrote:
(22-11-2016, 01:37 PM)BlueKelah Wrote: Previously had a good run with this one but cashed out when it went above NAV after turnaround from loss making.

[Notwithstanding the improved performance, the overall market conditions in China remained weak in 3Q2016 as reflected in the stagnant GDP growth of 6.7% and declining imports and exports. The Group expects these conditions to persist for the rest of 2016.]

It interesting mgt. feels the GDP 6.7% is stagnant. LOL that number would be impressive in most developed nation economies.

In any case, it seems the business environment over there is not that good at the moment and will probably not be improving as exports decline so there is quite some macro risk with the sector memtech is operating in.

Hi BlueKelah

I thought Memtech price all the while below NAV?  When did it hit NAV & above?

Current NAV is abt USD 77 cts if not wrong?  Thanks.

sorry type wrongly, this one i remember bought at  around 10c level, it was stuck there for a long time with few hundred lots blocking at 10c whilst i suspect someone was collecting. then it suddenly chiong to 14c+ so I decided to take profit.

Most of my stock usually I wait till NAV to sell but this was one of the exception so confused myself, sometimes type too fast.

yup NAV now is USD 77c  and should hit 80c next quarter. I didn;t follow much after selling but seems like they got the contract to make those expensive Dr. Dre BEATs headphones from apple and according to some analyst report last year some production halt or something and resumed recently so profit gone back up. They are also making some plastic parts for Tesla i think. So this year could be very busy ramping up production. 

Current valuation looks okish, net cash after the sale will be up to 40% net cash to Mcap. Only issue is i think previously they announced div payout is 30% and EPS so far this year is still not much  due to previous negative quarter so they might only do 2c, FY EPS 2016 probably only around 5-6c. The profit from the sale is also going back to cash pile and "working capital" purposes as co. has announced and will not be reflected in this quarterly anyways.

At 63c thats not a very attractive div for me, and we wont know if they would suddenly have another negative quarter or dip in earnings again this year.
"I love Taiwan"

http://thebluefund.blogspot.com/
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24-02-2017, 01:24 PM, (This post was last modified: 24-02-2017, 05:16 PM by BlueKelah.)
Post: #106
RE: Memtech International
fY results out, EPs USD2.9 for the quarter with jump in top line, but admin costs drag on profit.

Small SGD2.5c div as EPs for the year USD4.5c only due to previously poor 1q and 2q.

-v and collecting-

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"I love Taiwan"

http://thebluefund.blogspot.com/
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