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ChipEngS - Low PE, High Yield and High NAV in One
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Qanghoo
Supreme |
07-Dec-2015 09:24
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Yep, I think those who got insider info n bought at 66-67 already thrown out to eager catchers. But will fall back to around 66 by end Dec I think (n I hope also).
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tangsookiam1947
Master |
07-Dec-2015 09:20
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by the end of Q4 2015, CES should be reporting the revaluation gain from its Alex hotel which will boost its current NAV by around $0.20 to $0.25, depending on the estimate the company uses. Hence, currently all financial ratios such as debt ratio, gearing ratios, etc are overstated because its equity was understated. Will this further boost the share price? The spin-off will help to create the true value of its construction arm and also focus investor' s attention on the rest of CES' RNAV.. |
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HazardKoh
Master |
07-Dec-2015 09:05
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Just a gentle reminder.. this type of news every annouce got a temp spike, then eventually will fall back Most recent example: TAT HONG. Annouced listing too, spike from region of 50 cents to 60+ cents, fall back to 50+ cents again. So it takes a few mths to materialise if indeed it going ahead.. so just for ur info.
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tangsookiam1947
Master |
07-Dec-2015 09:01
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CES spiked above 70 cents this morning. Spin off is much better than share buyback :) Good move by CES!!! |
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Qanghoo
Supreme |
06-Dec-2015 22:12
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Brother, u are really doing a great deal of due diligence on this CES. Ur sharing of ur research work is very good n helpful to all of us. Thx a lot.
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tangsookiam1947
Master |
06-Dec-2015 21:23
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page 128 of AR 2014 (segment info). One can see that the construction segment managed to secure NET profit margin of 9% for 2014, and 5.8% for 2013. |
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victortan
Elite |
06-Dec-2015 20:19
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I think it is not so fast, may got to wait for a few year.LOL
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Qanghoo
Supreme |
06-Dec-2015 19:54
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Yep, I did consider that when posting below. But I figured out that it' s only one project left. That' s why I added that to remain profitable for the next few yrs, they need to win public housing projects, which from knowledge of past happenings, usually when times are not so good, they are likely to be accelerated. N as a top notch public-sector contractor, I figured that they' d manage this part OK.
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tangsookiam1947
Master |
06-Dec-2015 19:04
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many seemed to have forgotten that other than external demand for construction (i.e. CES book orders), their construction arm is also serving internal demand from within CES. The High Park Residence project should keep the construction arm occupied for at least the next 8 quarters. |
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edwinjup
Supreme |
06-Dec-2015 16:50
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There is nothing interesting for the new ces construction ipo.....margin the most around 5% for pure construction company....i will prefer to wait for the listing of LGB.group....ex ces group....lol... | ||||
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Lionel84
Member |
06-Dec-2015 14:13
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which quarter eps are you referring to? 10 years ago?
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spore1
Supreme |
06-Dec-2015 14:08
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Seems very high price.EPS is 1.94 cents | ||||
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victortan
Elite |
05-Dec-2015 23:27
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I think CES shd soar come Monday.Hope so. |
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Qanghoo
Supreme |
05-Dec-2015 21:35
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In lean times, public-sector constn projects, as seems traditional, are usually increased/speeded up as physical means to prop up the sagging economy. So, if CES can win one or two large public-sector projects (like HDB constn) which wld likely be offered for tender, their constn arm shd remain profitable for the next 4 to 5 yrs. Private-sector projects are indeed drying up. But if the economic outlook worsens, surely the authorities wld fine-tune some property control measures to beef up growth too. They probably cannot afford to let status quo rule when it' s not the bubble that' s bursting, but the foundation that' s giving way.
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tangsookiam1947
Master |
05-Dec-2015 16:05
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http://einvesthub.btinvest.com.sg/markets/2015/03/10/4-reasons-why-spinoffs-outperform-the-market-index/ 4 Reasons Why Spinoffs Outperform the Market Index |
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sheerluck
Supreme |
05-Dec-2015 15:42
Yells: "Work for your money first then let your money work for you" |
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CES quite shrewd to spin off its construction now while it can still get some good valuation. SG property will likely be flat given interest rate increase, slow down in population growth and this will curbed further property development which means less construction work for CES construction arm. Gettign rid of it serves two purposes: - one as I mention, it can still get a good valuation as it has better past three years record to show case to people. But like most IPO counter, once listed, performance dropped like hell. - two this arm will become a liability in the coming years. Better to get it off their balance sheet. I don' t know if it is a case of market who doesn' t value CES as it should be since the market is always right. Nevermind the market always right bullshit but if market doesn' t give CES $1, no shit we can do about it. Could also be a case the market remained insane longer than we can say solvent. But if market wants to stay insane longer than we can stay solvent, no shit we can do about it as well. Oversupply of property is a global phenomenon now. |
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tangsookiam1947
Master |
05-Dec-2015 15:18
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If CES manages to sell off its hotel (gain of $0.25) and construction arm ($0.25), one will get $0.50. Share price is only $0.67 . Is this a joke? |
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tangsookiam1947
Master |
05-Dec-2015 12:16
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Up-to-date list of Proposed and Under Construction buildings over 100m tall in Melbourne, Australia. If u scroll down, u can see that the status of TM is reflected as &ldquo demolition&rdquo . |
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edwinjup
Supreme |
05-Dec-2015 12:07
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Sg market never being fair to property/ construction counters...all love loss making counters like qt, spackman and a chips....lol | ||||
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tangsookiam1947
Master |
05-Dec-2015 11:47
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http://www.nextinsight.net/media/kunena/attachments/9737/SG_billionbelow-22072014.pdf Page 4. OSK previously valued CES construction arm at a P/E of 8, with a value of $160mil or $0.26 cents. |
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