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The party for Boustead is just starting. CIMB has raised the TP to $1.40 (from $1.20).
For details, pls refer to the link below.
https://research.sginvestors.io/2021/03/...03-17.html
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03-05-2021, 09:39 PM
(This post was last modified: 03-05-2021, 09:40 PM by Curiousparty.)
estimated Full year EPS - ~24 to 25 cents...(results to be released in late May 2021).
https://links.sgx.com/FileOpen/Exhibit%2...eID=652957
slide 22 => BP to gain $136 mil from divestment, of which 53% will be accrued to Boustead or 15 cents EPS gain for Boustead.
1H/2021= > Boustead had already earned 4.5 cents for usual businesses
Assuming 2H/2021 => Boustead also earned 4.5 to 5.5 cents, full year EPS = 10 cents (usual business)
10 cents + 15 cents (from divestment gain) = ~25 cents EPS.
How much usual and special dividends => I will leave it to Mr Market to imagine!!!
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the TP is likely to be re-rated again after the results next week...
___________
Boustead Singapore - CGS-CIMB Research 2021-03-17: Set For Another Good Year | SGinvestors.io - Where SG Investors Share
Reiterate Add with higher TP of S$1.40 Reiterate Add.
With the fruition of the value-unlocking exercise, our SOP-based TP is raised to S$1.40 accordingly. Nevertheless, given the lower rental income from investment properties post disposal, we reduce our FY21-23F core EPS forecasts by 0.4%-6.0%. The stock is backed by S$175m of ex-BP net cash (S$0.35/share, or 39% of market cap) and stable dividend yield of 3.3%. Potential re-rating catalysts include strong 2HFY21F results and special dividend announcement downside risks include weaker order wins for energy and property segments.
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Not use if the TP will be raised after the result announcement, I think the share price has been built in with the positive news of divestment gains, and the ppty division will be affected again due to Singapore Covid 19 situation.
I will be delighted if they declare more than 10 cts dividend (3ct usual + 7 cts special), let's wait for the result on 27 May.
vested
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RNAV of BP is close to $3...
Boustead's share is $1 (from BP alone).....Boustead is still hugely undervalued. With BP's declaring 15.4 cents of dividends, Boustead's dividends should be from 7 cents onwards...
Net cash at Boustead overall level will be raised to unprecedented level!!
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27-05-2021, 06:56 PM
(This post was last modified: 27-05-2021, 07:00 PM by LionFlyer.)
(26-05-2021, 05:18 PM)Curiousparty Wrote: RNAV of BP is close to $3...
Boustead's share is $1 (from BP alone).....Boustead is still hugely undervalued. With BP's declaring 15.4 cents of dividends, Boustead's dividends should be from 7 cents onwards...
Net cash at Boustead overall level will be raised to unprecedented level!!
Ok the results are out.
Boustead SGXNet Announcement-FY2021-27.05.2021.ashx
Boustead Media Release-FY2021 Financial Results Announcement-27.05.2021.ashx (sgx.com)
If you take aside the once BIF unlocking, the results are.. meh?
You can count on the greed of man for the next recession to happen.
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Current share price is only $1.07.
I pay $1.07 and I get the following:-
1. Net Cash of $0.97 & Final Dividend of 7 cents.
2. the whole company (53% of BP, geo-spatial, Engineering & health care) with their full earnings every year.
This implied that the the whole company is going for free??
Seriously, the company or Mr market needs to take a good look!
[I am not here to promote any stocks. Please always do your own research before embarking on any investment decision. I will not be liable for any of your own decisions. Your use of any information or materials is entirely at your own risk. It is your responsibility to ensure that any products, services or information meet your specific requirements. I do not produce material which meets the objectives of any specific financial and risk profile of investors.]
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Net cash that belongs to Boustead equity holders is around $0.665 which is still a lot.
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27-05-2021, 08:25 PM
Boustead Singapore FY Result as at 31 Mar 2021
Rev $685m (vs 726m)
GP $173m (vs 167m)
NP $178m (vs 44m)
Div
Final 3cents
Special 4cents
https://links.sgx.com/FileOpen/Boustead%...eID=667968
Mr Wong Fong Fui, Chairman and Group Chief Executive Officer of Boustead said,
“We resiliently weathered a challenging global landscape in FY2021, breaking several records along the way including revenue records at our Energy Engineering Division and Geospatial Division, and profit records for the Boustead Group, Real Estate Division and Geospatial Division. With astute leadership, hard work behind the scenes and some good fortune, our divisions entered FY2021 with sizeable order backlogs that helped to generate reasonable levels of revenue.”
“While facing the most challenging period in our history at Boustead Projects, the team successfully launched the Boustead Industrial Fund, our maiden property trust which has helped to transform Boustead Projects’ business model and integrate all parts of the industrial real estate value chain. The value unlocked by Boustead Industrial Fund was highly anticipated by shareholders at both Boustead Singapore and Boustead Projects but came at a time when most would have expected further delays, a strong indication of the quality of the team. Acknowledgement also should go to our teams at the Energy Engineering Division, Geospatial Division and Boustead Projects for credible performances under difficult conditions.”
“We entered FY2022 with a moderately healthy but much lower order backlog and expect the COVID-19 pandemic to continue to pose severe uncertainties in the short-term. Following Boustead Industrial Fund, we have strengthened our already healthy balance sheet and net cash position, and with a moderately healthy order backlog and wide range of available financing options, maintain a stable position to weather the highly challenging global landscape. We will continue to review and apply strict cost management measures and a cautious, prudent and risk-managed approach to capital allocation decisions. Even though Boustead Projects will unlock further value with the Boustead Industrial Fund at a much slower pace and spread out over a number of years in the future and even with the additional impact of the ongoing pandemic on business development activities, we expect to remain profitable for FY2022.”
Thank you valuebuddies.
Gratitude!
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(27-05-2021, 06:56 PM)LionFlyer Wrote: Ok the results are out.
Boustead SGXNet Announcement-FY2021-27.05.2021.ashx
Boustead Media Release-FY2021 Financial Results Announcement-27.05.2021.ashx (sgx.com)
If you take aside the once BIF unlocking, the results are.. meh?
If we strip away those non recurring profits/losses e.g: disposal of investment/leasehold properties, currency exchange loss/gain, then from 2017 to 2021 its recurring net profit in millions is as follows:
30.36, 40.37, 32.45, 37.09, 46.39.
Increasing?
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