Boustead Singapore

[GFG]

Just curious, is not a property company. Why we are using NTA only to value the whole company ?

Nobody's using only NTA to value the company, even if its a property company, I dont think NTA should be the only metric to use.

IMHO, I am just saying the valuations are no longer compelling. When I bought Boustead, the PE was ard 5-6, PB was about 1.5, and yield was ard 6%

Now PE, based on my est earnings for FY14 is ard 15, PB is almost 3 and yield is ard 3.5% even if we take into account the special distribution of 2 cents (total 7 cents)

I have utmost respect for FF Wong. In fact thats why i opted for scrip div last yr. But IMHO the "storyline" of the REIT and the redevelopment of the somerset property has created a lot of hype and the market is already pricing in the good news.
Not saying that its overvalued and that the price will drop, just saying that I feel there are better deals and this is a good time to reallocate capital as the share price is now fairly valued or even a little on the rich side.

[ksir]

http://infopub.sgx.com/FileOpen/Boustead...eID=288286

At least the water division found jobs to breakeven - no drag to the rest of the group.

Not implying anything.
Just an interesting read:
http://www.thejakartapost.com/news/2013/...plant.html
http://sekitan.jp/jbic/wp-content/upload...-3_ENG.pdf

(potential for the Heaters and WHRU or potential for Libya-surprise?)

(vested and biased)
Just my 2cent. It should be taken as the grain of salt.

[greengiraffe]

Good News:

http://infopub.sgx.com/FileOpen/Boustead...eID=288430

Need O&G to fired up as B Projects is facing strong competitive pressures from GLCs like Mapletree.

Nevertheless, it is indication on the outlook of the O&G sector.

Then again, at current share price, are the news of contract wins (to replenish finished jobs) and the unlocking of value of portfolio into a REIT in the price?

Vested
GG

[greengiraffe]

Still talking about the ind real estate portfolio, scaling up the size and hopefully can unlock value...

http://infopub.sgx.com/FileOpen/Boustead...eID=292218

[DP28]

Thanks for sharing.. Boustead is a good counter I must say.. the sudden spike up this morning did caught my attention.

I would think that the 09:08:10 transaction could be an error trade.

[corydorus]

Happen once last week as well when it spike and bought at higher price level quite significantly. What i am confuse is, they have ample opportunity to buy much lower during the day. Not sure i understand what's going on. Did someone play short or what ?

[greengiraffe]

A lot of strange price movements recently can be explained by computer driven algo buy / sell trades. Human beings invented trading program but computers are generally dumb so when volume on opposite thin off, then you get strange spikes here and there... but its good that now sgx is on my alert to query companies and sometimes we get unexpected answers...

[greengiraffe]

Boustead owns (or used to own) 100m shares of Hankore.

I think they may have sold off the shares given its strong performance this year.

Should my guess turn out to be true, Boustead may be able to sustain their record performance yet again for the year just ended. In which case, dividends could well be sustained at 5 cents + 2 cents special.

Vested
GG

[CityFarmer]

Boustead owns (or used to own) 100m shares of Hankore.

I think they may have sold off the shares given its strong performance this year.

Should my guess turn out to be true, Boustead may be able to sustain their record performance yet again for the year just ended. In which case, dividends could well be sustained at 5 cents + 2 cents special.

Vested
GG

I didn't manage to catch Boustead divestment on Hankore. May be Boustead isn't a SSH, so no announcement on its divestment.

How do you confirm the divestment from Boustead side?

(not vested in Boustead and Hankore)

[greengiraffe]

Boustead owns (or used to own) 100m shares of Hankore.

I think they may have sold off the shares given its strong performance this year.

Should my guess turn out to be true, Boustead may be able to sustain their record performance yet again for the year just ended. In which case, dividends could well be sustained at 5 cents + 2 cents special.

Vested
GG

I didn't manage to catch Boustead divestment on Hankore. May be Boustead isn't a SSH, so no announcement on its divestment.

How do you confirm the divestment from Boustead side?

(not vested in Boustead and Hankore)

Boustead owns a 100m shares in Hankore at a historical costs of 4 cents. That was many years ago. The amount is never a substantial stake and hence will never be reported as a transaction.

I am merely guessing on Boustead's position from the point of view as a shareholder since Hankore share price has jumped substantially for the year.

We will see when Boustead releases its final results next month.

Vested
GG