ISDN Holdings

[Squirrel]

ISDN's JV with Comtec has gone into R&D of blockchain technology for more efficient and decentralized platform for trading and distribution of solar generated energy.

www.hkexnews.hk/listedco/listconews/SEHK/2018/0126/LTN20180126167.pdf

[Squirrel]

ISDN has released their first quarter results, and it looks good with expenses normalised etc. Revenue is up a healthy 12.6% on the year.

http://infopub.sgx.com/FileOpen/ISDN-Ann...eID=505539

EPS is 1.32 cents per share, and if that extrapolates to 4 quarters, its PE is 4.2 thereabouts and current book value attributable to shareholders is circa 36.4 cents. Value stock with a growth profile to it?

[Elty]

http://infopub.sgx.com/FileOpen/ISDN-Ann...eID=520769

ISDN has released their second quarter results. Revenue grew by 11% yoy.

http://infopub.sgx.com/FileOpen/_ISDN-eF...eID=521265

MD bought back 631,600 shares.

[Squirrel]

http://infopub.sgx.com/FileOpen/ISDN-Ann...eID=520769

ISDN has released their second quarter results.  Revenue grew by 11% yoy.

http://infopub.sgx.com/FileOpen/_ISDN-eF...eID=521265

MD bought back 631,600 shares.

These are great news. Who else would know the company better than the person leading it. And yet again, even with stellar results, price movements stays muted. However, while the price stays stagnant, the discount to book value deepens and its only a matter of time before the rubber band springs back.

[Squirrel]

Activist Investor in ISDN.

https://www.nextinsight.net/story-archiv...ial-holder

Quoting the article

"The Novo Tellus website says: "We favor a small portfolio of investments, allowing us to spend more time partnering with management teams to build lasting growth and value in our businesses. Our approach to building companies to last works: Our companies on average increase their value by well over 300% after a Novo Tellus investment."

https://www.novotellus.com/portfolio

[Shiyi]

Novo Tellus is also eyeing for Procurri.

[Elty]

ISDN has released its annual report for FY2018. A good read to understand its upcoming plans.

https://links.sgx.com/FileOpen/ISDN-Annu...eID=548355

[cyclone]

ISDN HOLDINGS: What Novo Tellus sees in it

Written by Leong Chan Teik
Published: 06 June 2019

At ISDN’s 1Q19 results briefing this week, Keith Toh, a partner of private equity fund Novo Tellus Capital Partners shared his fund’s views on ISDN. Novo Tellus recently bought a 6.4% stake in ISDN through a new share placement (at 20 cents apiece). Novo Tellus, in a celebrated story, invested several years ago in AEM Holdings and has helped it emerge with top-rated chip-testing solutions for its key customer, Intel Corp. (See earlier article:  ISDN: To Become No.6 investee company of Novo Tellus private equity fund)

"We are a tech-focused private equity fund.  We have developed a playbook over time and it's been fairly successful for us to perform quite well as a fund.

"ISDN fits exactly what we're looking for. We look for companies that have done the hard work over many years -- that is, they have built up customers, technology, market presence, scale, profitability and growth.

"It's rare to find all of those but you have a company that CK founded and built over time and has accumulated that collection of assets.

"On top of that we try to look for companies that have those qualities and are hitched to big disruptive trends in technology – cloud computing, Industry 4.0, 5G….

"This one is very clear: As CK (photo) describes it, it’s hitched directly to Industry 4.0, the transformation of Asia's industrial base. The company is very strong in China, Vietnam, Singapore with different degrees of industrialization but the big market for ISDN is China which accounts for 70% of its revenues and the big theme in China, for us at least, is the automation of China's industrial base. It is an irreversible trend.

"Then we say, well, if we take that basic conviction that China will need to address labour costs, productivity and embrace its own technology ecosystem -- why ISDN? The answer to that to us was ISDN has access to critical technologies and as China automates its factories the demand for higher and higher end automation will begin to percolate through.

"And ISDN - we've done the benchmarking. We have a 200-page consulting report, we hired industry insiders to help us think through this. ISDN has access to that very high precision, high performance high efficiency small form-factor type of motors that seem to be where market demand must go if China's to continue advancing its economy.

"How we met the company is a good illustration of what ISDN does. We use our network for most of our deals. We don't go to investment banks  -- we know technology. ISDN came through a company we know which produces industry 4.0 machines.

"It's about as advanced as you can imagine -- what it produces is about the size of this room, it's for the semiconductor industry, they run hundreds of millions of chips through it and the chips go on to power a large part of the cloud economy, the data centers, very high value chips.

"The company we were in discussion with told us, hey we recently evaluated ISDN alongside two global robot companies and they said it's just as good and so we thought we'd have to call this company.

"The specific thing they were evaluating ISDN for is in this entire room size machine is one robot arm – there’re many smaller arms – but one big one and it moves tens of millions of chips and if that arm goes down, the entire machine goes down, which means the entire production line stops.

"This company had evaluated ISDN as a single source supplier for that arm. They were going to the top chip supplier of the world and saying this is our machine, this is what we stand behind, this will run your operations 24/7, fully automated, and the one critical piece in here, we're going to entrust it to ISDN.

"That tells us a lot.

"We know this much about technology,  and if the engineers are saying this company is at least as good as the top robotics companies, that says a lot to us about what ISDN can deliver.

More details in https://nextinsight.net/story-archive-ma...sees-in-it

[dreamybear]

Financial Results 1H2019

Highlights :
1. 1H2019 revenue of $147m down from $162m in 1H2018.
2. 1H2019 profit of $8.3m down from $13.5m in 1H2018.

3. 1H2019 EPS 1.35c down from 2.55c in 1H2018.
4. No interim dividend declared. 
5. 1H2019 Ordinary Shares increased to 410m from 395m in 1H2018.

6. Mgmt Analysis (Pg 14-15)
(a) Review
"For 1H2019, revenue fell by approximately S$15.1 million, or 9.3% from S$162.1 million for the six months ended 30 June 2018 (“1H2018”) to S$147.0 million for 1H2019. This was mainly due to the ongoing trade tension and cyclical headwinds in the semiconductor industry.......Market conditions remained challenging as the ongoing trade war and market uncertainties have affected the growth momentum in China......"

(b) Future Prospects
"The Group remains confident in the long-term prospects of its industrial automation business, expecting to ride on the growing demand for motion control solutions in the PRC as the country vies for greater dominance in the global manufacturing industry........Looking to penetrate Asia’s renewable energy sector, the Group is on track to begin production for its first two mini-hydropower plants in the second half of 2019 and the third to start in FY2020, bringing the total capacity to 24.2 megawatts of power......."

https://links.sgx.com/FileOpen/ISDN-Ann-...eID=573626

[dreamybear]

ISDN: Insights into relationship with Novo Tellus
Written by Leong Chan Teik
Published: 29 August 2019

Novo Tellus is giving ISDN Holdings some uplift when it comes to telling its technology story to the market.

In the past two quarterly briefings (and broker roadshows), Novo Tellus partner Keith Toh was on the management panel facing investors.

When he took questions, he had substantive answers. (See: ISDN HOLDINGS: What Novo Tellus sees in it)

Mr Toh was appointed a board member of ISDN in May 2019 following Novo Tellus' purchase of a new issue of ISDN shares, amounting to a 6.4% stake, in March 2019. (See: ISDN: To Become No.6 investee company of Novo Tellus private equity fund) ...........

Read more : https://www.nextinsight.net/story-archiv...ovo-tellus