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(03-10-2013, 01:32 AM)mkmk Wrote: http://infopub.sgx.com/Apps?A=COW_Corpor...kxXFIZi1UM
Sale of Interest in Kingsmen Fairtech International Pvt. Ltd.
Quote:The Board of Directors of Kingsmen Creatives Ltd. (the “Company") wishes to announce that it has entered into an agreement on 1 October 2013, pursuant to which the Company will sell its 35% equity interest in Kingsmen Fairtech International Pvt. Ltd. ("Fairtech International”) its associated company, to an existing shareholder of Fairtech International (“Proposed Divestment”).
Upon completion of the Proposed Divestment, Fairtech International will cease to be an associated company of the Company.
The aggregate consideration for the Proposed Divestment is Rupees 1,750,000 (approximately S$35,000) (the “Consideration”). The Consideration was negotiated at arm’s length on a “willing-buyer, willing-seller” basis, taking into consideration, inter alia, the Company’s share of Fairtech International’s unaudited net asset value as at 31 March 2013 which the Company has made full impairment for as at 31 December 2012.
The Proposed Divestment is not expected to have a material financial impact on the net tangible assets per share and earnings per share of the Company for the financial year ending 31 December 2013.
None of the Company’s directors and controlling shareholders has any interest, direct or indirect, in the Proposed Divestment.
Considering that they had already written this off, getting it for $35k is not that bad. I wonder what is the with the Indian market that they are not able to do well.
On another note, KC's cash has been increasing over the number of years but their dividend has been the same. Wonder why are they hoarding so much cash.
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Quote:On another note, KC's cash has been increasing over the number of years but their dividend has been the same. Wonder why are they hoarding so much cash.
I think the management had communicated that they may develop a new building or buy a building to house their Kingsmen HQ since the current HQ is pretty cramped due to their increasing business activities. Besides that, the lease for the current building will end in 2016 although there are options to extend the lease further.
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(16-10-2013, 07:10 AM)yeokiwi Wrote: Quote:On another note, KC's cash has been increasing over the number of years but their dividend has been the same. Wonder why are they hoarding so much cash.
I think the management had communicated that they may develop a new building or buy a building to house their Kingsmen HQ since the current HQ is pretty cramped due to their increasing business activities. Besides that, the lease for the current building will end in 2016 although there are options to extend the lease further.
Thank you yeokiwi.
With the property prices so high, I guess they must be waiting for the right opportunity to buy.
(vested)
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Kingsmen's share price added another $0.025 today (30Oct13) and closed at a new high of $0.97, backed by quite a high volume of 369 lots. The counter has advanced a total of $0.06 (or 6.6%) in the last 2 market days, from the closing price of $0.91 last Friday (25Oct13).
Before counting the generous twice yearly dividends payout, Kingsmen's share price has out-performed the STI by a highly commendable approx. 50% in the last 2 years.....
http://finance.yahoo.com/q/bc?s=5MZ.SI&t...l&c=%5Esti
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A short summary about Kingsmen Creative appearing on fool.sg:
http://www.fool.sg/2014/02/18/3-things-y...creatives/
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27-02-2014, 07:27 PM
(This post was last modified: 27-02-2014, 08:08 PM by dydx.)
FY13 (ended 31Dec13) result just out…..
http://infopub.sgx.com/FileOpen/Kingsmen...eID=276470 [result announcement]
http://infopub.sgx.com/FileOpen/Kingsmen...eID=276469 [press release]
Another year of steady well-managed growth and improved profitability - NP up 8.9% YoY to $18.4m, EPS up 8.3% YoY to $0.0957, and ROE at a highly respectable 25.0%. 31Dec13 B/S stood rock-solid, with Equity raised to $86.2m (31Dec12: $73.8m), and a further increase in net cash reserve to $59.2m (31Dec12: $48.4m). An unchanged Final dividend of $0.025/share declared. Inclusive the $0.015/share Interim dividend paid, total payout for FY13 is $0.04/share (FY12: $0.04/share).
It is relevant to also note that in FY13, Kingsmen's total revenue from the all-important Greater China market (comprising mainland China, Hong Kong, and Taiwan) increased a whopping 58.8% YoY to $100.2m.
It looks like this FY14 will be a better year ahead based on the following outlook statement extracted from the result announcement…..
"As at 26th February 2014, the Group has secured contracts of approximately S$138 million, of which S$117 million is expected to be recognized in FY2014. With the strong pipeline of contracts and planned developments in the region, The Group expects 2014 to be a good year, barring unforeseen circumstances."
As a direct comparison, the comparable order book a year ago (as at 27Feb13) was only approx. $81.0m.
Share price wise, it is heartening to note that Kingsmen has out-performed the STI by over 50% in the last 2 years (since Mar12)…..
http://sg.finance.yahoo.com/q/bc?s=5MZ.S...l&c=%5ESTI
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I was expecting a higher dividend to be given out in May.
It must be noted that the Dividend payout ratio for Kingsmen is 42% while for its competitor Pico, their DPR is 58%.
I was also looking at the 11.2% increase in staffing cost which now represents 15.4% of revenue. In comparison, admin expenses for Pico is more efficient at 13.1% of revenue.
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Points noted from the result :
1. (the obvious) shrinking PBT margin of E&M division.
From 6-8% in 2008-2011 to 3.61% in 2013.
I see this division as the potential revenue growth in years ahead (ie: theme parks projects).
It is quite a concern to me of the deteriorating margin.
It seems that the learning curve these years did't improve the margin as expected.
Perhaps my perception of E&M (esp. theme park works) having higher barrier of entry is wrong.
2. Interior PBT is now about 70% of total PBT.
Risk of over concentration in low barrier of entry business.
3. Comparatively year on year, NEW orders won is comparable:
Nov 2012- Feb 2013 about $82.3M
Nov 2013- Feb 2014 about $83.3M
4. Cash hoard is growing (still looking for new office??)
(Vested and expecting higher dividend)
My views are your Gilbert & Sullivan's:
"The flowers that bloom in the spring, have nothing to do with the case".
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The Cotton On Group on Thursday announced the opening of its Asia headquarters in Singapore, which will boost employment here.
The Singapore Economic Development Board (EDB) said that with the investment, the Australian retail group has committed to hiring 200 people for its Asia operations by June 2018.
Since its inception 23 years ago, the group has grown to more than 1,300 stores across nine brands in 16 countries.
The retail chain has more than 160 stores in Singapore, Malaysia, Hong Kong, Thailand, Indonesia and the Philippines, and plans to open several hundred more in the region in the next five years at a projected investment in excess of $100 million.Source:Business Times
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