logo transparent gif
top_white_spacer
Home Latest Stock Forum Topics MyCorner - Personal Stocks Porfolio Stock Lists Investor Insights Investor Research & Links Dynamic Stock Charting FREE Registration About Us top spacer top spacer
 User Password Auto-Login
Enter Stock
 
righttip
branding

Back
First   < Newer   181-200 of 3389   Older>   Last  
Latest Forum Topics / ST Engineering    Last:11.02    -0.25  Post Reply
ST Engg
Checkerman
Master
29-Aug-2025 09:01     
 
Checkerman About Contact  Quote this Post!  
  x 0
  x 0

 Alert Admin 		potential to see $9 

alexvar      ( Date: 28-Aug-2025 19:26) Posted:

I checked their recent filings: Financial Statements and Related Announcement: Half Yearly Results.
And you are right, not a single mention about TransCore.

Disastrous Transcore acquisition, yet not a single senior manager fired for this mistake.
DYDD

Guzman      ( Date: 28-Aug-2025 12:50) Posted:

Better stay away from this counter - over priced with meagre dividends. The Management touted STEngg as a growth stock BUT never disclosed how the numbers of Transcore is stacking up. The numbers simply do not justify taking a $3B facility to acquire! DYODD.
 Useful To Me  Not Useful To Me
alexvar
Senior
28-Aug-2025 19:26     
 
alexvar About Contact  Quote this Post!  
  x 0
  x 0

 Alert Admin 		I checked their recent filings: Financial Statements and Related Announcement: Half Yearly Results.
And you are right, not a single mention about TransCore.

Disastrous Transcore acquisition, yet not a single senior manager fired for this mistake.
DYDD

Guzman      ( Date: 28-Aug-2025 12:50) Posted:

Better stay away from this counter - over priced with meagre dividends. The Management touted STEngg as a growth stock BUT never disclosed how the numbers of Transcore is stacking up. The numbers simply do not justify taking a $3B facility to acquire! DYODD.
 Useful To Me  Not Useful To Me


alexvar
Senior
28-Aug-2025 18:00     
 
alexvar About Contact  Quote this Post!  
  x 0
  x 0

 Alert Admin 		Yep, they made a huge disastrous TransCore US acquisition, when the interest rates were at close to 0% !

Now the interest rates are high, and the TransCore/USS segment still can' t generate any meaningful EBIT since the 2022 acquisition.

DYDD.

Guzman      ( Date: 28-Aug-2025 12:50) Posted:

Better stay away from this counter - over priced with meagre dividends. The Management touted STEngg as a growth stock BUT never disclosed how the numbers of Transcore is stacking up. The numbers simply do not justify taking a $3B facility to acquire! DYODD.
 Useful To Me  Not Useful To Me
Guzman
Member
28-Aug-2025 12:50     
 
Guzman About Contact  Quote this Post!  
  x 0
  x 0

 Alert Admin 		Better stay away from this counter - over priced with meagre dividends. The Management touted STEngg as a growth stock BUT never disclosed how the numbers of Transcore is stacking up. The numbers simply do not justify taking a $3B facility to acquire! DYODD.
 Useful To Me  Not Useful To Me
Alignment
Elite
27-Aug-2025 21:32     
 
Alignment About Contact  Quote this Post! Style: Fundamental  
  x 0
  x 0

 Alert Admin 		Your chat GPT is malfunctioning.

I' m looking at the 1H25 results. The b/s has $4.5bn of intangible assets, so Sakura is correct in saying the company has negative tangible net assets.

showy_m      ( Date: 26-Aug-2025 12:24) Posted:

a simple verification from chat GPT
 

📊 Cross-Checking Sakura&rsquo s Key Claims vs Reality

Sakura Claim Latest Reality (2024/1H25)
Net income cannot cover CapEx + dividends since 2015 Recent free cash flow is positive and covers dividends. Payout ratio ~55&ndash 69% is sustainable.
Over-leveraged Net debt ~S$5.7b, debt/EBITDA 4.4× . Leverage is meaningful but manageable with 4.1× interest coverage.
Negative tangible net assets Balance sheet shows no goodwill as of 2025 tangible NAV is not negative.
Risk of goodwill impairment Goodwill = zero &rarr no impairment risk.
&ldquo Overpriced&rdquo Valuation is rich (P/E > 30× FY25e), but analysts still project ~7&ndash 12% upside with S$8.2&ndash 8.8 consensus target.

 Useful To Me  Not Useful To Me


Bullrun2021
Member
26-Aug-2025 12:43     
 
Bullrun2021 About Contact  Quote this Post!  
  x 0
  x 0

 Alert Admin 		Not on any fundamental but logical analysis, price moving downwards encourage more buy-in and for the next wave. This company is long enough and having a sizeable contract both in Aerospace and Weaponry development do play a part to increase its market cap...nothing wrong.
 Useful To Me  Not Useful To Me
showy_m
Member
26-Aug-2025 12:24     
 
showy_m About Contact  Quote this Post!  
  x 0
  x 0

 Alert Admin 		a simple verification from chat GPT
 

📊 Cross-Checking Sakura&rsquo s Key Claims vs Reality

Sakura Claim Latest Reality (2024/1H25)
Net income cannot cover CapEx + dividends since 2015 Recent free cash flow is positive and covers dividends. Payout ratio ~55&ndash 69% is sustainable.
Over-leveraged Net debt ~S$5.7b, debt/EBITDA 4.4× . Leverage is meaningful but manageable with 4.1× interest coverage.
Negative tangible net assets Balance sheet shows no goodwill as of 2025 tangible NAV is not negative.
Risk of goodwill impairment Goodwill = zero &rarr no impairment risk.
&ldquo Overpriced&rdquo Valuation is rich (P/E > 30× FY25e), but analysts still project ~7&ndash 12% upside with S$8.2&ndash 8.8 consensus target.
 Useful To Me  Not Useful To Me
alexvar
Senior
26-Aug-2025 11:31     
 
alexvar About Contact  Quote this Post!  
  x 0
  x 0

 Alert Admin

The Bear Cave # 280



Sakura Research published on Singapore Technologies Engineering (Singapore: S63 &ndash SGD24.4 billion), a Singapore-based defense and aerospace technology company. Sakura called the company

&ldquo an overpriced over-leveraged defense play handicapped by a high debt load, high annual capital expenditure spend, negative tangible net asset value and unrecognized goodwill impairment&rdquo and said that &ldquo reported annual net income has not been able to cover its annual capital expenditures together with its annual dividends paid to shareholders every single year since 2015.&rdquo
 Useful To Me  Not Useful To Me


alexvar
Senior
25-Aug-2025 10:37     
 
alexvar About Contact  Quote this Post!  
  x 0
  x 0

 Alert Admin
1 plane down in Malaysia.

And  Russian MiG-29 Crashed Into Pole in Armenia. wow!

yep, let' s buy this sh-tty overly indebted stock.


 

ysh2006      ( Date: 25-Aug-2025 10:22) Posted:

Malaysia one war plane down , weapons and ammunition importation defence to a country.

ysh2006      ( Date: 20-Aug-2025 08:34) Posted:

Reaching support if Russia don' t want to end war ,Iran also want to retadidate  IDF ,good for this stock ...
 Useful To Me  Not Useful To Me
ysh2006
Supreme
25-Aug-2025 10:22     
 
ysh2006 About Contact  Quote this Post!  
  x 0
  x 0

 Alert Admin 		Malaysia one war plane down , weapons and ammunition importation defence to a country.

ysh2006      ( Date: 20-Aug-2025 08:34) Posted:

Reaching support if Russia don' t want to end war ,Iran also want to retadidate  IDF ,good for this stock ...
 Useful To Me  Not Useful To Me
ysh2006
Supreme
21-Aug-2025 21:29     
 
ysh2006 About Contact  Quote this Post!  
  x 0
  x 0

 Alert Admin 		Israel going to take over Gaza , ME war will continue no peace than need weapons and ammunition .

Louistan      ( Date: 19-Aug-2025 11:55) Posted:

Better pray that Trump fails in his attempt to bring peace in Ukraine, because if he does, lots of  the proclaimed increased in spending by Nato coutries will be reversed. We would have seen the peak of defence equipment contracts for STE for the next few years.

MrBear12      ( Date: 19-Aug-2025 11:30) Posted:

No it cannot stop the slide.

800 is first support.

With more SBB, shortists will be more cautious.

Trade with car
 Useful To Me  Not Useful To Me
Alignment
Elite
20-Aug-2025 16:45     
 
Alignment About Contact  Quote this Post! Style: Fundamental  
  x 0
  x 0

 Alert Admin 		Singapore not part of the western coalition. Will never be trusted.
 Useful To Me  Not Useful To Me


bishan22
Supreme
20-Aug-2025 14:52     
 
bishan22 About Contact  Quote this Post!  
  x 0
  x 0

 Alert Admin 		It's over priced.

Ling9345      ( Date: 20-Aug-2025 09:44) Posted:

Good for this stock to drop
 Useful To Me  Not Useful To Me
Ling9345
Master
20-Aug-2025 09:44     
 
Ling9345 About Contact  Quote this Post!  
  x 0
  x 0

 Alert Admin 		Good for this stock to drop
 Useful To Me  Not Useful To Me
ysh2006
Supreme
20-Aug-2025 08:34     
 
ysh2006 About Contact  Quote this Post!  
  x 0
  x 0

 Alert Admin 		Reaching support if Russia don' t want to end war ,Iran also want to retadidate  IDF ,good for this stock ...
 Useful To Me  Not Useful To Me
Sin_Cos_Tan
Veteran
19-Aug-2025 16:34     
 
Sin_Cos_Tan About Contact  Quote this Post!  
  x 0
  x 0

 Alert Admin 		STE' s  NET ASSETS at at 30 Jun 2025 : $3,041M
If exclude  Intangible assets of $4,514M
The Co will have a NET LIABILITIES of $1,473 M
 

Sin_Cos_Tan      ( Date: 19-Aug-2025 15:35) Posted:

Great minds think alike.
add 1 more:
Net asset value per share 86.97 cents
PB almost 10 times.
 

alexvar      ( Date: 19-Aug-2025 12:46) Posted:

Thanks for confirming my statement that net income can' t cover both CapEx and dividend payouts.

STE has a garbaga balance sheet with massive useless goodwill balance and huge debt load.

No wonder STE started selling off their profitable businesses to pay down their huge debt.

$3.6B TransCore acquisition in 2022 destroyed their balance sheet, and made it over-indebted.
overpaying for useless business under USS segment, which can' t generate any meaningful profit, sad $12m in EBIT in H1 2025.


30-June-2025 balance sheet:

total shareholder equity:  2,714,625,000
intangibles (goodwill, etc):  4,514,124,000 

net tangible book value: NEGATIVE SGD $1.8B   

Good luck holding STE )

DYOD
 Useful To Me  Not Useful To Me
papercut111
Member
19-Aug-2025 15:48     
 
papercut111 About Contact  Quote this Post!  
  x 0
  x 0

 Alert Admin 		You got consider the new contracts in the order book?

Sin_Cos_Tan      ( Date: 19-Aug-2025 15:35) Posted:

Great minds think alike.
add 1 more:
Net asset value per share 86.97 cents
PB almost 10 times.
 

alexvar      ( Date: 19-Aug-2025 12:46) Posted:

Thanks for confirming my statement that net income can' t cover both CapEx and dividend payouts.

STE has a garbaga balance sheet with massive useless goodwill balance and huge debt load.

No wonder STE started selling off their profitable businesses to pay down their huge debt.

$3.6B TransCore acquisition in 2022 destroyed their balance sheet, and made it over-indebted.
overpaying for useless business under USS segment, which can' t generate any meaningful profit, sad $12m in EBIT in H1 2025.


30-June-2025 balance sheet:

total shareholder equity:  2,714,625,000
intangibles (goodwill, etc):  4,514,124,000 

net tangible book value: NEGATIVE SGD $1.8B   

Good luck holding STE )

DYOD
 Useful To Me  Not Useful To Me
papercut111
Member
19-Aug-2025 15:46     
 
papercut111 About Contact  Quote this Post!  
  x 0
  x 0

 Alert Admin 		I put both arguments into chatgpt. It thinks that mr bear wins.
 

  Who is Right?



  • MrBear12&rsquo s argument is more aligned with financial best practices.

Why?



  1. Net Income &ne Cash Flow


    • Net income includes non-cash expenses (depreciation, amortization), unrealized gains/losses, and accounting items like impairment of goodwill.


    • Cash flow from operations reflects actual cash generated, which pays bills, dividends, debt, and CapEx.


  2. Goodwill and Intangibles


    • High goodwill can be a red flag if the company overpaid for acquisitions.


    • But goodwill is a non-cash asset until impaired it affects book value but not immediate cash position.


    • Negative tangible book value is concerning but common in tech and service sectors where intangible assets dominate.


  3. Debt and Cash Flow


    • If ST Engineering is paying down debt regularly, it suggests it has sufficient cash flow.


    • Companies can temporarily carry high debt if they have predictable, stable cash flows.


  4. Profitability Issues in Segments


    • A weak segment reduces overall profitability but doesn&rsquo t necessarily threaten financial health if other parts compensate.


alexvar      ( Date: 19-Aug-2025 12:46) Posted:

Thanks for confirming my statement that net income can' t cover both CapEx and dividend payouts.

STE has a garbaga balance sheet with massive useless goodwill balance and huge debt load.

No wonder STE started selling off their profitable businesses to pay down their huge debt.

$3.6B TransCore acquisition in 2022 destroyed their balance sheet, and made it over-indebted.
overpaying for useless business under USS segment, which can' t generate any meaningful profit, sad $12m in EBIT in H1 2025.


30-June-2025 balance sheet:

total shareholder equity:  2,714,625,000
intangibles (goodwill, etc):  4,514,124,000 

net tangible book value: NEGATIVE SGD $1.8B   

Good luck holding STE )

DYODD

MrBear12      ( Date: 19-Aug-2025 12:34) Posted:

Don't mislead here lah.

It's not net profit minus dividend and capital expenditures.

What we look at is net operating cash flows minus all other cash flows (incl dividend and cap ex )

If the company is generating enough cash from operations to pay for dividends, repay debts and spend on stuff, then we are okay.

Otherwise we have to borrow.

If STeng has been repaying debt, it means it has generated enough cash from operations.

So STEng is financially healthy.

Maintain buy with price target above 1
 Useful To Me  Not Useful To Me
Sin_Cos_Tan
Veteran
19-Aug-2025 15:35     
 
Sin_Cos_Tan About Contact  Quote this Post!  
  x 0
  x 0

 Alert Admin 		Great minds think alike.
add 1 more:
Net asset value per share 86.97 cents
PB almost 10 times.
 

alexvar      ( Date: 19-Aug-2025 12:46) Posted:

Thanks for confirming my statement that net income can' t cover both CapEx and dividend payouts.

STE has a garbaga balance sheet with massive useless goodwill balance and huge debt load.

No wonder STE started selling off their profitable businesses to pay down their huge debt.

$3.6B TransCore acquisition in 2022 destroyed their balance sheet, and made it over-indebted.
overpaying for useless business under USS segment, which can' t generate any meaningful profit, sad $12m in EBIT in H1 2025.


30-June-2025 balance sheet:

total shareholder equity:  2,714,625,000
intangibles (goodwill, etc):  4,514,124,000 

net tangible book value: NEGATIVE SGD $1.8B   

Good luck holding STE )

DYODD

MrBear12      ( Date: 19-Aug-2025 12:34) Posted:

Don't mislead here lah.

It's not net profit minus dividend and capital expenditures.

What we look at is net operating cash flows minus all other cash flows (incl dividend and cap ex )

If the company is generating enough cash from operations to pay for dividends, repay debts and spend on stuff, then we are okay.

Otherwise we have to borrow.

If STeng has been repaying debt, it means it has generated enough cash from operations.

So STEng is financially healthy.

Maintain buy with price target above 1
 Useful To Me  Not Useful To Me
papercut111
Member
19-Aug-2025 14:24     
 
papercut111 About Contact  Quote this Post!  
  x 0
  x 0

 Alert Admin 		Just wait and see. Don't be hasty in your comments.

alexvar      ( Date: 19-Aug-2025 10:59) Posted:

LOL, laugh away.

Even the share repurchases by STE can' t seem to stop the onoing price slide !

papercut111      ( Date: 18-Aug-2025 10:23) Posted:

Quite funny to see you replying to your own posts.


 Useful To Me  Not Useful To Me
                                                         First   < Newer   181-200 of 3389   Older>   Last  



ShareJunction Version: 27 Nov 2020 ver- All Rights Reserved. Copyright ShareJunction Pte. Ltd. Disclaimer: All prices from are delayed. ShareJunction does not provide you with any financial advice. We are not into the business of providing any investment advice. See our Terms and Conditions and Privacy Policy of using this website. Data is delayed for varying periods of time depending on the exchange, but for at least 15 minutes. Copyright © SIX Financial Information Ltd. and its licensors. All Rights reserved. Further distribution and use by third parties prohibited. SIX Financial Information and its licensors make no warranty for information displayed and accept no liability for data and prices. SIX Financial Information reserves the right to adapt and/or alter this website at any time without prior notice.

Web design by FoundationFlux. Hosted with Signetique Cloud.