Chosen Holdings

[dydx]

I have just finished reviewing Chosen's FY10 (ended 30Jun10) AR.....
http://info.sgx.com/listprosp.nsf/6c6be9...f0012edd2/$FILE/ChosenAR2010.pdf

I think the company deserves a nomination for an award for the very high-quality AR, and for its comprehensive and detailed disclosure. Based on its long operating track record (listed since 1999), and having gone through the past economic and industry crises practically unscathed - and even managed to accumulate quite large profit and cash reserves - without doubt, Chosen is one of the better and conservatively managed plastic parts manufactuerers on SGX. I think Chosen is also an exemplary company in running a sustainable business and in looking after its stakeholders.

For FY10, Chosen is paying out much higher dividends - totalling $0.0139/share; comprising a Final of $0.0066/share, and a Special of $0.0073/share - out of the company's huge nett cash reserve of $21.4m (as at 30Jun10) (equivalent to $0.0744/share) accumulated over the years. Based on the 30Jun10's Equity of $73.0m, and the 286.95m issued shares, Chosen's NAV/share now stands at $0.254, which still provides a strong asset backing against the last done share price of $0.18.

Assuming Chosen can continue to generate a decent profit and a good FCF from its business, I guess this counter may appeal to those investors looking for an established company/business with a proven operating track record and management, and able to deliver a decent yearly cash return.

[dydx]

I have just taken a look into the FY11 (ended 30Jun11) full-year results announcement.....
http://info.sgx.com/webcoranncatth.nsf/V...80039BBDF/$file/ChosenResultsAnnouncementSGXnet.pdf?openelement

Chosen's plastic components business and profitability were battered in FY11 by (1) a major OEM customer's shifting its supplier base from Singapore/Malaysia to PRC, (2) the major earthquake in Japan which temporarily disrupted some customers' supply-chains, and (3) forex impact of a weakening USD and a strong SGD. Despite the near total wipe-out of profits at PBT level, the business still generated a positive pretax FCF (before accounting for changes in working capital items) of $5.7m, which was sufficient to cover capex of $4.8m. Chosen closed the FY still with a nett cash reserve of over $15.0m (equivalent to approx. $0.052/share), and has kept the regular Final dividend at $0.0066/share.

From the outlook statement, it appears that there is a good chance Chosen could well stage at least a mild profit turnaround in FY12.

[pianist]

The Board of Directors of Chosen Holdings Limited wishes to provide a guidance on the Group's half year results for the financial period ended 31 December 2011.
For the first half of the current financial year, the Group’s profit is largely impacted by the write-off of property, plant and equipment and stock and accrual for flood related repairs and reinstatement expenses resulting from the severe flood in Thailand which affected the Thailand plant. Although the plant’s fixed assets, inventories and gross profit is insured, the amount claimable is subject to the insurance company’s assessment, which is ongoing. Hence, Management has not accrued for any claims receivable. As a result, the

[tianyudi]

Its seem like nobody have been discussing about this penny stock for the past few years.

There is a few point which i like about this stock

1) High BVPS as compare to it market price

2) low debt

3) consistent in their dividend payout and they have just increased their dividend to 0.72cent which make it a 4.8% yield based on pre-ex date

4) share repurchase for the past few months (seem like management is quite positive of the firm future outlook).

5) the appreciation of USD will have substantial impact on their revenue.

6) Healthy operating cash flow for the past 5 years.

Anybody have a different point of view to share or discuss? I would highly appreciate that.

[dydx]

The company last bought back shares (30 lots) from the open-market on 24Sep14 and paid $0.161/share. The counter went 'XD' on 11Nov14 and last traded at $0.145. I am looking forward to receiving the $0.0072/share Final dividend for FY14 (ended 30Jun14) on 21Nov14, in time for some X'mas shopping.

Indeed based on the latest FY14 full-year results the business appears to be growing again…..
http://infopub.sgx.com/FileOpen/ChosenRe...eID=312232
, and the strengthened USD/SGD exchange rate - by approx. 4.8% since mid-Jul14 - should be a boon to Chosen's profits for 1H-FY15 at least. Also, the 30Jun14 NAV/share (adjusted for the $0.0072 Final dividend) at $0.2233 still does provide ample asset coverage and a decent MOS.

[pianist]

Buddy tianyudi. Seems like u r working hard on a cool sunday amid coming festive season. No recent discussion since feb 2012 is good, no noise.

Fully vezted nil share sold todate. Also looking forward to the coming div.

[greengiraffe]

surely got to work hard due to the imminent return of LKT windfall after so many years...

Can easily few m of pennies that catches his fancies...

Odd Lots Vested
GG

Buddy tianyudi. Seems like u r working hard on a cool sunday amid coming festive season. No recent discussion since feb 2012 is good, no noise.

Fully vezted nil share sold todate. Also looking forward to the coming div.

[BlueKelah]

Almost there, waiting for the yield to creep up past 5.5% first and more net cash before considering makan some. Valuations looking pretty attractive!

[tianyudi]

The company have been actively buying back it own share from the market. It seem like they are repurchasing any number of shares as long as it is in the reasonable range. Further, recently small caps seem to have slightly bigger movement than the past. I was wondering will Chosen be the next chosen one.

[tianyudi]

It's moving