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Sound enticing and for it to work, i.e., Boustead keep UIB reit in its book and payout higher dividend, then it has to pay at least 12 cents dividend to justify at least 5.6% yield based on current share price of $2.15. Boustead' s latest 12 months dividend as at Dec 25 was 7.5 cents so whether UIB alone will add 4.5 cents dividend remain to be seen. I think it is quite hard because UIB has to declare 22.5 cents dividend for Boustead to secure 4.5 cents based on its 20% stake. However, if UIB' s DPU is at least 12.5 cents then Boustead' s share will be 2.5 cents and Boustead should have no problem paying at least 10 cents dividend and that will give a yield of about 4.65% based current share price of $2.15. I think this is doable so let' s wait and see what Boustead is going to do with its UIB reit.
tangsookiam1947 ( Date: 08-Feb-2026 21:20) Posted:
It is generally better for Boustead Singapore to raise its BAU dividend rather than give a one-off dividend-in-specie because markets value repeatable income more than event payouts. A higher BAU dividend signals that cashflows have structurally improved and can be sustained year after year, which supports re-rating and long-term shareholder confidence. A dividend-in-specie, by contrast, is usually treated as non-recurring &mdash like giving shareholders a one-time gift basket rather than increasing their monthly allowance &mdash and its impact often fades quickly after the ex-date. Keeping REIT units on the balance sheet also allows Boustead to collect steady distributions, smooth earnings across cycles, and gradually pass this through as higher regular dividends without forcing shareholders to manage or sell distributed REIT units. Over time, this quieter approach compounds better, aligns with long-term owners, and preserves flexibility for capital recycling and growth, rather than locking value into a single, irreversible event.
Jiyaji ( Date: 08-Feb-2026 17:24) Posted:
U/stand they are already courting Acc Investors for pre-IPO book building with min. investment of ~$75K.
That indicates potential listing of IPO in ~2 month |
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I have to admit so far it has been disappointing post spin off, especially with STI keep pusning new high. In other words, Singapore market has been doing well but sine the spin off, both YZJF and YZJM are not doing well. The combined value has dropped from $1.24 to $0.895 now. I have see my unrealised profit shrink by 6 figures and don' t know it will keep shrinking or not. Regardless, will stop accumulating for the time being cos really don' t know prices will head lower or not but will keep holding the current shares. Afterall, YZJM is free to me and the holding cost for my YZJF is at about the current share price. With both companies net cash with no debt and share price below their respective NAVs now, time is on the long side especially if both companies keep paying good dividends. There is nothing of note on the news front and we await upcoming results for both companies to assess them further.
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Strong performance past few days but so far it is quiet on the reit listing news. Current market cap for Boustead is about $1.01B and with the proposed UIB reit valuing at $1.9B and Boustead' s share at 20%, 1 Boustead share is worth about $0.75 alone based on UIB' s book. Boustead could well be distributing 2 UIB shares for every 10 Boustead shares if it wish but it need to be emphasised that we do not know what' s Boustead' s plan so far with regard to its interest in the proposed UIB reit. Recent price actions suggest exciting time ahead. Hopefully with March approaching there will be more news on UIB listing.
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Agree with the view that the timing of seeking SBB mandate a bit odd. First results post listing should be announced by end of the month, following which, AGM should be held by middle of April 26. It seems wastful of resources to try and hold an EGM from now till middle of Apr 26 which is about 2 months apart. Moreover, since the announcement on 19.1.26 of intending to seek mandate for SBB, there was no follow up. If really want to expedite, by now should have at least set the EGM date and dispatch the circular plus voting forms. So the execution is less than perfect and worse, if continue to drag and finally nothing happen and then seek SBB mandate during AGM, the investors' confidence will take some discount as this reflect indecisiveness on the part of the management/company.
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Intraday high $2.02, 3 more cents to equal ATH of $2.05 clocked on 21.4.14. I think it is achievable soon if not today.
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I still have both and in fact increase my holdings in both. Aiming for combined at least $0.04 dividend. $0.018 and $0.022 from F and M respectively but hopefully it would be more.
pkli899 ( Date: 27-Jan-2026 14:32) Posted:
People still holding both, like me, must be wondering what will the combine dividends be?
Hoping it will be above 3.45c.
HVRRVH ( Date: 27-Jan-2026 11:47) Posted:
| Quick bounce from $0.57 give investors a bit of confidence, with further boost of company seeking SBB mandate soon. From high of $0.72 till current price, I am sure some investors have taken profits and existed. Old Ren is not sitting idle, immediately he sees that the share price is undervalued and is now seeking SBB mandate. Meanwhile, the market is adopting a wait and see attitude as YZJM, on its own, has no track record albeit its management has wealth of maritime businesses related experience. The maiden results should be released in about a month time, the company is going to be profitable, just how profitiable only. Without any prior full year results on its own, we can only based on its previous martime segment of YZJF to gauge its performance. On this note, the latest FY saw martime segment account for about 60% of YZJF' s profit, therefore, if we keep thing simple, YZJM' s profit level per share should be at least 60% of $0.0866 = $0.052 per share, as $0.0866 was the eps of YZJF pre spin off. With $0.052 as base, the maiden dividend for YZJM could be at least $0.021 based on 40% payout ratio. Having said that, I think post spin off, YZJM should be outperform YZJF by a large amount and I am cautiously optimistic that it should acheive higher eps and dividend of $0.052 and $0.021 respectively. We shall find out soon in a month, let' s see! |
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Should test $1.95 soon, the previous high acheived on 9.10.25. Looking back, shareholders have been asking for the longest time whether Boustead can do a reit lisitng but Boustead has taken quite some time to decide on this. However, since it privatised Boustead Project, the momentum is gaining for a reit listing and it has now focus on taking this route. We could see the listing materialise soon if market speculation of the March fund raising is correct.
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Quick bounce from $0.57 give investors a bit of confidence, with further boost of company seeking SBB mandate soon. From high of $0.72 till current price, I am sure some investors have taken profits and existed. Old Ren is not sitting idle, immediately he sees that the share price is undervalued and is now seeking SBB mandate. Meanwhile, the market is adopting a wait and see attitude as YZJM, on its own, has no track record albeit its management has wealth of maritime businesses related experience. The maiden results should be released in about a month time, the company is going to be profitable, just how profitiable only. Without any prior full year results on its own, we can only based on its previous martime segment of YZJF to gauge its performance. On this note, the latest FY saw martime segment account for about 60% of YZJF' s profit, therefore, if we keep thing simple, YZJM' s profit level per share should be at least 60% of $0.0866 = $0.052 per share, as $0.0866 was the eps of YZJF pre spin off. With $0.052 as base, the maiden dividend for YZJM could be at least $0.021 based on 40% payout ratio. Having said that, I think post spin off, YZJM should be outperform YZJF by a large amount and I am cautiously optimistic that it should acheive higher eps and dividend of $0.052 and $0.021 respectively. We shall find out soon in a month, let' s see!
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About 1 month to results release. Without maritime segment and based on price actions since spin off, I think eps is going to take a hit of at least 50%, therefore, last year' s eps of $0.0866 is gonna be around $0.0433 and resultant dividend is likely to be around $0.01732 based on minimum 40% payout ratio. This is close to the maiden dividend of $0.018 payout in 2023. In essence, YZJF has been reset to it original form without the maritime segment and there is no surprise that the share price has been rerated accordingly. I do not think YZJF can transform so fast since spin off and therefore, its upcoming results would not be spectacular and using last year eps of $0.0866, the question is how many percent less will the eps be without the maritime segment. 50% is about right with worse and best case scenarios being 60% and 40% respectively. Either way, I think management would aim for minimum $0.018 dividend to keep the yield of at least 5% based on today' s share price. I have added a bit at $0.375 with dividend of at least $0.02 in mind but I think market price actions are telling, and it would be a big surpise if upcoming dividend is anything more than $0.02. All said, the market is now ignoring the NAV per share of about $0.54 and its huge growth potential going forward. It has large case waiting to be deployed and it has attempted to invest RMB$1b into Shanshan but its restructuring plan was rejected by Shanshan. This give a glimse of what YZJF can do with its cash. YZJF is net cash with no debt and with its huge growth potential in mind, I have added a bit more at $0.355 since $0.375 and will now be waiting for next correction to add at even cheaper prices, if it come to that.
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https://www.businesstimes.com.sg/companies-markets/ui-boustead-said-seek-us700-million-singapore-ipo-march
This link is not behind the paywall.
HVRRVH ( Date: 11-Jan-2026 10:25) Posted:
https://www.bloomberg.com/news/articles/2026-01-08/ui-boustead-is-said-to-seek-700-million-singapore-ipo-in-march
First mentioned of timeline for the reit IPO, March 2026 it is. |
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https://www.bloomberg.com/news/articles/2026-01-08/ui-boustead-is-said-to-seek-700-million-singapore-ipo-in-march
First mentioned of timeline for the reit IPO, March 2026 it is.
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It' s not surprising that YZJF' s share price drop to current level, afterall, this was its price range before the share price shot up along with the spin off gaining momentum till fruition. YZJF is now back to where it began, without the maritime businesses so the share price has corrected. However, its legacy businesses are still generating incomes and the company is also trying to chart a new course, as evidence by its attempt to drive the Shanshan' s restructuring plan, albeit failed. As with before, the company has huge pile of cash and the share price is now trading well below its NAV. Accordingly, I added to day at $0.375 as I am confident it would continue to pay generous dividends. Besides, following the spin off, it is as good as investors are holding on to the original investment in YZJF but with YZJM, at least the 2 combined entities are no longer trading at the depressed 0.4x NAV it once were. It had reached ATH of $1.24 in its combined form so while it is expected that post spin off YZJF' s share price will drop, it is surprising that YZJM is also falling. Using ATH $1.24 pre spin price as gauge, YZJM should be trading $1.24-$.375= around $0.865. However, this is not how market work so investors have to temper the expectaton a bit. Nevertheless, the pre spin ATH of $1.24 could potentially show how the future price action may be. On that note, I have also added some YZJM at $0.585 today. We may not yet see the bottom prices for these 2 YZJs but focus should be shifted to the upcoming FY results for both and its dividend announcements. From there, investors can analyse further the 2 companies and take personal actions.
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Few more days then FY25 closed already. In late Feb, FY25 results will be announced along with dividend quantum. March 25 will annouced XD and payout will be in May 25. For long holders who have been holding since day 1, we have experience and know the cycles since 2022. Never say never but the company would be profitable, just going to be less due to carve out of maritime segment to YZJM. In a nutshell, personally I still aim for at least $0.016 to $0.0185 dividends. Any shortfall it is expected to be make up by YZJM. Let' s wait!
hokpin ( Date: 26-Dec-2025 14:03) Posted:
Big Bro pkli899, HRVVRH, Volvo25 and all, a Merry Xmas and Happy New Year to you all and your family. May the new year ahead be filled with health and prosperity. Huat ah! Hope this counter has hit the bottom and re-charge for next surge very soon.
pkli899 ( Date: 24-Dec-2025 22:46) Posted:
Merry Christmas & Happy New Year.
Wish all good health & good wealth in 2026 & beyond. |
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Spin off-ing the infrastructural materials and services segment. Question is, the share price not even 10 cents, got meat meh? After spin off, existing company and new company 5 cents each per share?
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Placement $0.60, virgin market price $0.66, virgin closed price $0.67, so far lowest is $0.645 x3 with highest $0.72 also x3. With placement price, virgin market open and closed price as well as married deal noted on 21.11.25, I think current price range is normal gyration and clear direction should be when the virgin annual report is posted. Objectively investors should expect at least $0.052 to $0.055 eps with maiden dividend around $0.022 and that will give a yield of 3.4% based on current share price. Not fantastic but bond yield is still high and this yield is acceptable given that YZJM is a fast growth company. I am in queue at $0.625 to add more if it comes to that.
HVRRVH ( Date: 21-Nov-2025 19:53) Posted:
Big buyer(s) and seller(s) transact marriage deal at $0.67, a total of about 19.32m which counted for about 40% of total trade volume. No issue. For such a big amount I guess the seller(s) must give some discount, as can be seen from the absent of trade done at between $0.675 to $0.680. US markets again leading the drop and the negative sentiments may continue to next week affecting the rest of the world markets. Long holders' hands may get itchy and if opportunities arise, I may actually look to accumulate YZJF and some of my other holdings. For YZJM, I want to add only at placement price which I honestly think may not happen unless world recession. By then, many things to buy also if capital is not an issue. When YZJF spun off from YZJS, it was almost one way street down from the start as far as the share price is concerned and the only support mechanism then was SBB. This time round, someone is buying big at 12% above placement price. We do not know the party(ies) that involved in this big marriage deal but given that the price was transacted well above placement price, I somehow think it is a good sign because while seller(s) can sell for many reasons below market price, the buyer(s) definitely think the price will go beyond the purchasse price going forward. For example, China Sunsine founder sell 42m shares in a marriage deal early this month for $0.66 a piece when the share price was constantly traded at well above $0.70 and even hit $0.80 before the sale. While all transactions can or may sent some " signals" to the wider market, marriage deal usually will disregard market price as long as party(ies) involved agreed with the price. Perhaps the buyer(s) would have participated in the private placement to begin with but the placement size was so small. Yes, I do hope there is a rights issue. Let' s see!
pkli899 ( Date: 21-Nov-2025 17:25) Posted:
5pm: volume done 26,604.4k units, price 68.5c.
5.16pm: volume done 47,231.58k units, price 67c.
Big sell down, why?
Rights issue coming? |
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Today managed to get $0.415 after queuing for some days. Same theme, profitble company with good dividend payout. Net cash. EPS post spin should still be in the range of $0.033 to $0.035 range, which dividend expected to be between $0.013 to $0.014 at the lowest of the low expectation. Personally I guess a dividend of $0.017 should be achievable. Current share price well below NAV and PE is not demanding at slightly above 10. Though not apple for apple but similarly cash rich company like Raffles Medical is trading at close to 30x PE with similar EPS albeit it has much higher dividend payout ratio.
HVRRVH ( Date: 12-Dec-2025 15:12) Posted:
| YZJF continued to have healthy volume post spin off. Consolidation taking place at current price levels. Added a bit higher than curret price and next level to add personally for me is $0.4 - $0.425 levels. It should be still potentially rewarding. Let' s go. |
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YZJF continued to have healthy volume post spin off. Consolidation taking place at current price levels. Added a bit higher than curret price and next level to add personally for me is $0.4 - $0.425 levels. It should be still potentially rewarding. Let' s go.
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As accumulator of this stock, I think market tried to tempt people like me to add at $0.41 to $0.415 but I shall wait below $0.4 if it comes to that. Already have enough at $0.41 to $0.42 levels. Afterall, this company has no operational prospects except with some liquid cash and valuable properties acting as backdrop. Waiting for it to call it a day and return cash to shareholders.
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SIAS asked the same questions. The goodwill come in the form of " Equity Interest' of the targeted companies to the tune of US$285m. If the 2 targeted companies can earn so much why is their NAV so low? I was building position in Geo when this acquisition was taking place, primarily in view of Reinvest' s high warrant prices and also the road infrustructure Geo was building for alternate source of income. However with such high acqusition price involving interested parties, I have some concerned and sold all at low price albeit still with profit. I was wrong in the context of subsequent price surge to hit the high of $0.52 so what do I know. I think shareholders must continue to grill the management at the EGM even though they have provided response to SIAS.
HVRRVH ( Date: 27-Aug-2025 21:57) Posted:
| Crazy! USD$127m to buy 2 companies with combined annual profits of USD$7.4m and NTA of USD$26.4m? That' s not all, as Geo only acquiring 51% of the 2 companies, the relevant annual profit and NTA is USD$4m and USD$13.5m only. In return, Mr Melati alone will receive USD$79m worth of new shares! His immeidate families will receive seperate amount of cash, shares and receivable too. The dilution to EPS is $0.032 to $0.0307 and NAV from $0.4888 to $0.3977. The relevant announcement mentioned that there will be an independent valuer report, however, with EPS and NTA as per documented, any value above NTA is at best intangible value such as future possible earning etc. As a shareholder I will be watching the development closely. |
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Thank you. This is the source I was referring to, from The Edge article dated 28.8.25 entitled " YZJ Maritime Prepare For Sail" . Let' s revisit also the following mentioned by old Ren in the article and we can act accordingly. Separately, DBSV mentioned in their report dated 21.11.25 that the $250m private placement has been " Postphone" . So we are none the wiser whether eventually there will be a private placement cum preferential offer aka rights issue.
[[ With the more lucrative maritime business no longer under its wings after the spin-off, Yangzijiang Financial is likely to see a sell-down on its stock once Yangzijiang Maritime is listed, according to Ren. To appease Yangzijiang Financial&rsquo s shareholders, who effectively are also shareholders of Yangzijiang Maritime, he says the newly listed entity plans to offer new shares through a rights issue that will be priced to sell. &ldquo The market may think a rights issue is not beneficial as it is dilutive, but the Yangzijiang Maritime rights shares will be priced attractively to benefit shareholders,&rdquo he says. &ldquo We want to make sure shareholders of Yangzijiang Financial are taken care of when its share price pulls back after the spin-off.&rdquo Ren is hopeful shareholders will welcome the rights issue, which he says he will underwrite. &ldquo Yangzijiang Maritime&rsquo s profitability will increase because the shipbuilding orders that we placed in recent years are due for delivery soon. This means we can start selling them or chartering them out for income.&rdquo
Similar to Yangzijiang Shipbuilding and Yangzijiang Financial, Yangzijiang Maritime will pay out up to 40% of its annual earnings as dividends, he lets on. &ldquo I want all shareholders of our Yangzijiang group of companies to get more from us in dividends every year than what they get in interest from leaving their money in the bank.&rdquo The rights issue is likely to take place not long after Yangzijiang Maritime&rsquo s listing. Together with the placement of up to $250 million worth of new shares to accredited and institutional investors, Yangzijiang Maritime is looking to raise about $400 million in total from the two cash calls ]]
Panda8 ( Date: 23-Nov-2025 14:25) Posted:
| Currently, Yangzijiang Maritime owns 84 vessels of various types (including vessels under construction), with a total investment of over US$1 billion. Among them, there are 69 vessels in which it has invested or financed 4 vessels under lease and 11 vessels under agency. |
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