Keong Hong Holdings

[sykn]

Noted, thanks for sharing your findings.

Hi Sykn sure I will take look at the book recommended. Thanks and to share back. My intrinsic value calculation for isoteam is 65 cents and keong hong is 80 cents.

[thor666]

Hi, intrinsic value can be calculated in many ways; I recommend for your reading, Value Investing from Graham to Buffett and Beyond by Professor Bruce Greenwald of Columbia Business School. His view is that we can calculate this value in 3 fundamental ways - the Asset Reproduction Value (ARV, explained in his book), the Earning Power Value (EPV) assuming no growth in future net profits, and EPV with assumed growth (used by Buffett and some others) which he does not advocate and gives very good arguments why so in his book. My estimate of ISOTeam's ARV is 30 cents and EPV is 86 cents based on its FY14 annual report. As for Keong Hong, I'm new to the counter and haven't gotten round to do this computation yet; I bought in because of its high ROE and recent low price, although I note that this ratio has been declining since FY12 albeit to a respectable 20's in FY14. Hope it helps.

Hi skyn, thank u for the resource! Though I am not vested, have been looking to analyze intrinsic values too.

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[sykn]

Hi, since you are interested in this subject, I would also recommend 3 other books that talk about Intrinsic Value (I use them all to value my investments):
1. The Warren Buffet Way by Robert Hagstrom: it gives worked examples on how Buffet calculates IV using DCF with growth
2. Value-able by Robert Montgomery: he also gives a simple look-up table to calculate IV based on a company's ROE and growth
3. The Intelligent Investor by Benjamin Graham: surprisingly, instead of taking about net-net approach, he suggests a more judgment based method to calculate IV based on the company's past track record
Obviously, I cannot elaborate any further as this thread is about Keong Hong, but I leave it for you to pursue if you are interested. Happy reading!

Hi, intrinsic value can be calculated in many ways; I recommend for your reading, Value Investing from Graham to Buffett and Beyond by Professor Bruce Greenwald of Columbia Business School. His view is that we can calculate this value in 3 fundamental ways - the Asset Reproduction Value (ARV, explained in his book), the Earning Power Value (EPV) assuming no growth in future net profits, and EPV with assumed growth (used by Buffett and some others) which he does not advocate and gives very good arguments why so in his book. My estimate of ISOTeam's ARV is 30 cents and EPV is 86 cents based on its FY14 annual report. As for Keong Hong, I'm new to the counter and haven't gotten round to do this computation yet; I bought in because of its high ROE and recent low price, although I note that this ratio has been declining since FY12 albeit to a respectable 20's in FY14. Hope it helps.

Hi skyn, thank u for the resource! Though I am not vested, have been looking to analyze intrinsic values too.

Sent from my D5503 using Tapatalk

[Life is a game]

Announced dividend of sgd 0.0125 today and ex date Feb 3 2015. Congrats to all vested shareholders

[ValueMushroom]

Read that Amore EC only 70units sold on first day. Less than 20% sold, not a good take up rate.

[sykn]

Just for comparison, ISOTeam hit 60 cents today for the first time, but Keong Hong is still stuck around 38 cents - I suppose good if you're looking to pick up a few more lots. Comparing the business of these two companies, ISOTeam's franchise value is its ability to win many small A&A and R&R projects, thus giving it high recurring income. Must confess I still cannot suss out Keong Hong's call to fame (if ever there was any). Any VB mind to share what is Keong Hong's most important value (besides all the projects already shared)? Thank you.

[Life is a game]

All I can say if you are buying with sufficient mos based on your calculation of its intrinsic value then need to be patient. Just like how I believe isoteam value and add more when it drops to 47 cents few months ago. Value investing, that's how it is to begin with.

[ValueMushroom]

Skypark Residences: 355 / 506 sold. Crosses 70% sold. Slow and steady locking in profits of 2nd EC project. 3rd EC will post a bigger problem though.

[shn]

Skypark Residences EC
24 February 15: 357 units sold and 149 available (70.6% sold) based on
Source: http://www.executivecondominium.sg/

Amore EC
In the Executive Condominium (EC) market, The Amore was the only new EC launched in January. It sold 83 of its 378 units at a median price of $795 psf. Together with other previously launched projects, 184 EC units were sold in January 2014. The Amore was the best-selling EC project during the month as sales at other EC projects launched in the last few months have slowed down.
Source: http://www.jll.com.sg/singapore/en-gb/ne...O5bqoKwrmQ

[ValueMushroom]

Just picked up some more Keong Hong shares yesterday.

This FY results will be exceptional.