Mun Siong Engineering

[dydx]

On 12Dec14 (last Friday), ED Quek Kian Hui mopped up from the open-market a total of 1,107,000 shares (out of a total volume transacted for the day of 1,137,000 shares) in 11 separate transactions and paid between $0.0788 to $0.08 a share…..
http://infopub.sgx.com/FileOpen/MSE-2014...eID=328229
The purchases cost Quek over $88k, and Mun Siong closed up $0.007 at $0.08 last Friday.

Apparently taking the cue from Quek's purchase, Mr Market marked up Mun Siong by another $0.005 today (15Dec14, Monday) and the counter closed higher at $0.085, with a total volume transacted of 203,000 shares.

[dydx]

Yesterday (15Dec14, Monday), ED Quek Kian Hui again mopped up Mun Siong shares from the open-market and added another 203,000 shares - all the volume transacted for the day! - in 5 separate transactions done at $0.079 to $0.085 a share….
http://infopub.sgx.com/FileOpen/MSE-2014...eID=328335
Quek's purchases yesterday cost him another approx. $16.7k, and had guided the share price going up further and closed at $0.085.

Interesting move!

[dydx]

Mun Siong's FY14 full-year result should be out within the next 3 weeks (last FY13's result was released on 20Feb14). As before, a final dividend can be expected (last FY13: Final $0.0015/share, plus Special $0.0009/share; total: $0.0024/share).

Perhaps it is timely to revisit and review FY14's 3Q/9M result…..
http://infopub.sgx.com/FileOpen/MSE-ANN-...eID=323539

[dydx]

I just discovered that as part of the company's IR efforts, Mun Siong has actually mapped out a IR Calendar for 2015…..
http://www.mun-siong.com/calendar.php
So we can look forward to having the FY2014 Result Announcement on 13Feb15 (Friday).

Today (3Feb15) the counter closed $0.004 - or 5.3% - higher at $0.08. It appears that Mr Market may be starting to work on Mun Siong.

[dydx]

FY14 full-year result just out…..
http://infopub.sgx.com/FileOpen/MSE-2015...eID=335160 [result announcement]
http://infopub.sgx.com/FileOpen/MSE-2015...eID=335161 [press release]
and a nice surprise - a total of $0.005/share in Final and Special dividends have been declared!

[corydorus]

While the year ended as press release, the QvQ show a quite a different story and in fact lower profitability against higher rev. I would rather the management present what gives on Q4 resulting -28% EPS. And this is on the back of ...

"For 4Q2014, revenue grew by 18.1% over the corresponding prior quarter (“4Q2013”) with the
completion of projects and recognition of revenue from a higher volume of works undertaken."

So in this context is indeed nice surprise dividends ....

Can help share what could have happen ?

[dydx]

Today (6Mar15) there are 5 announcements on separate directors and substantial shareholders converting their warrants into new Mun Siong shares…..
http://infopub.sgx.com/FileOpen/MSE-2015...eID=337674 [Peter Sim - 40,000 new shares]
http://infopub.sgx.com/FileOpen/MSE-2015...eID=337829 [Cheng Woei Fen - 79,713,600 new shares]
http://infopub.sgx.com/FileOpen/MSE-2015...eID=337831 [Quek Kian Teck Gabriel - 9,576,000 new shares]
http://infopub.sgx.com/FileOpen/MSE-2015...eID=337833 [Quek Chiau Liong - 7,346,000 new shares]
http://infopub.sgx.com/FileOpen/MSE-2015...eID=337835 [Quek Kian Hui - 9,688,800 new shares]

Quite obviously, they are doing so because of the coming total $0.005/share in Final & Special dividends. I suppose most shareholders will do the same.

This means there will be more mother shares in the free-float, and liquidity of this counter should also increase given enough time. Would Mr Market be motivated to do his usual trick to re-rate Mun Siong towards its justified fair value?

[pianist]

how to convert the warrants into shares? so far i don't seem to receive the notification nor instructions to do..

strange

[dydx]

Mun Siong's in-house newsletter - 2014 (published in Dec14) makes interesting reading…..
http://www.mun-siong.com/uploads/newslet...202014.pdf

From the Chairman Message (p1, para 2), we can know that the Group "has secured the renewal for a maintenance contract from one of its existing long term customers in Singapore for a period of three years. The Group has also secured two additional maintenance contracts with new customers located on Jurong Island for a period of two and three years respectively." Even though the names of the customers were withheld, this I suppose is good news and should at least raise revenue from maintenance services going forward. As Mun Siong had a total of 13 maintenance contracts in Dec13 (as mentioned in the December 2013 newsletter), we can also deduce that Mun Siong has entered 2015 with a total of 15 maintenance contracts.

From the text in p3, we can also know that both Shell and ExxonMobil Chemical are presumably long-standing customers of Mun Siong.

[dydx]

The total $0.005/share in Final & Special dividends will be paid on 28May15…..
http://infopub.sgx.com/FileOpen/MSE-FY20...eID=339075

Based on the last done share price of 0.08, dividend yield is 6.25%!