Noel Gifts International

[heifien91]

Just got interested with this stock and have been trying to calculate the FCF as done by yyt but can't seem to get those figures. Could anyone help me break down the exact way of calculating it? Thanks!

[dydx]

FY13 (ended 30Jun13) full-year results out on 27Aug13.....
http://infopub.sgx.com/FileOpen/Noel_FY2...eID=254020
Business volume/Revenue of the all-important and core Gifts business in Singapore grew a decent 10.5% YoY, and operating profits from the business held steady and delivered a slightly higher aftertax FCF (before capex), even after absorbing higher staff cost and expenses incurred in a new start-up in China. NP was boosted by a higher $3.375m gain from fair value adjustment of investment properties, which are now carried at a higher BV of $15.9m (likely still conservative, as the strata-titled industrial properties located at 50 Playfair Rd are ripe for redevelopment), equivalent to $0.155/share in value of extra reserve assets on top of the operating business and reserve cash. Group B/S as at 30Jun13 remained rock-solid and debt-free, with a $11.3m total balance of cash reserve and quoted securities (equivalent to $0.11/share); NAV now stands at a new record of $0.3219/share. A higher total of $0.015/share (vs. $0.013/share in last FY12) in Final + Special dividends declared.

I suppose shareholders of Noel Gifts International are a happy lot!

[pianist]

indeed happy..looking forward to the 1.5cents dividend

[valuehunter]

There was a small increase in stake of 36000 shares on 6 Sep by ROYAL INSTITUTE OF CONSTRUCTION EconOMISTS PTE LTD. Anyone knows who/what this SSH is? Thanks in advance.

[lavue]

Stripping away the fair value gains of $3.375m on their investment properties, Noel would have made a profit of $1.549m, or a core EPS of 1.51c. Stripping away their property assets of ~15c per share, at its current price of 30c Noel is valued at ~10 times earnings. Is a PE of 10 fair for a established (in core market of Singapore) and growing business (venturing into the region)?

[InvestArk]

Revenue growth avg for the last 5 years is approx 5% , earning on a whole averages out to about 3cents for the last 5 years (including fair value gains of property) , Average PE is around 9 based off current price of 0.27. B/S still remains impeccable. But it seems that Mr market is pricing NGI rather near to its intrinsic value with little to no Margin of Safety.

[valuehunter]

NGI up 8c (approx 30%) at $0.345 now. Only 5 lots traded. Interesting. Granted that this counter is highly illiquid, still why would anybody pay so many bids above last traded price?

[dydx]

NGI up 8c (approx 30%) at $0.345 now. Only 5 lots traded. Interesting. Granted that this counter is highly illiquid, still why would anybody pay so many bids above last traded price?

It could well be a mistake. On the other hand, NGI could be at this point seriously thinking/planning about how to unlock the value of its old majority-owned strata-titled freehold industrial investment property located at 50 Playfair Road, Singapore 367995. More details of this property are contained in p62/63 and p84 of the latest FY13 AR…..
http://infopub.sgx.com/FileOpen/Noel%20G...leID=19548

I suppose it is relevant to note that in last FY13 (ended 30Jun13), NGI has written up the carrying value of this investment property to $14.126m, and included a fair value gain of $3.366m in P&L. It is also relevant to note that the property is located very close to the Tai Seng MRT Station…..
http://www.streetdirectory.com/asia_trav...e_46735/5/
, and land value around that area has increased substantially in the last few years. Therefore, I suppose it is conceivable that NGI's latest (as at 30Jun13) NAV/share of $0.3069 (adjusted for the $0.015/share Final/Special dividends paid on 14Nov13) remains very much understated.

[memphisb]

PROFIT GUIDANCE FOR THE FIRST HALF YEAR ENDED 31 DECEMBER 2013
In anticipation of the announcement of the unaudited financial results for the first half FY ended 31 December 2013 (“1H 2014), the Board of Directors of Noel Gifts International Ltd (the “Company together with its subsidiaries, the “Group”) deems it appropriate to issue a profit guidance announcement in respect of the financial results of the Group.
Following a preliminary review of the unaudited consolidated results for 1H 2014, the Group expects to report a loss mainly due to the increase in operating costs and lower Group’s turnover. The reduction in the Group’s turnover for 1H 2014 from the previous half year is of the order of less than 5%. The loss anticipated to be recorded for 1H 2014 as a percentage of turnover for the half year is also of the order of less than 5 %. However, the Group is expected to be profitable for the full financial year, before fair value adjustment of its investment properties. Such fair value adjustment is only determined at or close to the year end date and is dependent on the market conditions at that time.
Further details of the Group’s financial performance will be released when the Company announces its Group’s unaudited consolidated half year results for 1H 2014 on 10 February 2014.
BY ORDER OF THE BOARD
Wong Siu Hong Alfred

[ianphoon]

i notice this counter has been trickling up on small volume despite profit warning guidance.
at todays closing 29.5c, is there adequate mos? if the 1.5c dividend cant be sustained, the price will just drop down. any buddies have any views on this small cap?