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Longtermer Elite	07-Mar-2021 19:05        Longtermer About Contact  Quote this Post! Style: Flexible   Yells: "A disciplined investor is a wealthy investor"
x 0   x 0  Alert Admin	Medtecs .. In for the long haul DBS Group Research . Equity 3 Mar 2021 &bull FY20 revenue (+480.4%) and earnings (+11-fold) were in line with expectations &bull PPE demand in 1H21 holding steady vs 1H21 with selling prices only inching down &bull On the lookout for expansion opportunities including M& A &bull Maintain BUY with a slightly lower TP of S$1.25 FY20 revenue and earnings in line &bull Revenue and net profit climbed to US$400.3m (+480.4% y-o-y) and US$131.7m (+11,348.5% y-o-y) respectively as the COVID-19 pandemic drove demand for Medtecs&rsquo personal protective equipment (PPE). &bull Gross profit margins were up 27.6ppts to 42.9%, supported by a higher proportion of sales of Medtecs-branded products. &bull Final dividend per share of US$0.0418 declared, bringing total FY20 DPS to US$0.0503 or S$0.067. The dividend represents c.7% yield based on Medtecs&rsquo closing price of S$0.955. Manufacturing and Trading & Distribution segments shine &bull The Manufacturing segment saw FY20 revenue rise by 576.4% y-o-y to US$357.8m. Profit before tax margins stood at 34.2% for FY20, an increase from 2.5% in FY19. &bull The Trading & Distribution segment reversed its fortunes and saw FY20 profit before tax rising to US$14.0m from US$0.3m in FY19 driven by higher demand and sales of higher margin products. &bull Hospital Services&rsquo losses before taxes deepened to US$1.4m in FY20 from US$0.1m the previous year as a result of higher labour and linen amortization cost. Market was expecting a special dividend &bull Following special dividend announcements by peers such as Riverstone and UG Healthcare, Medtecs&rsquo lack of a special dividend may have disappointed the market. &bull Total DPS for FY20 stood at US$0.0503, representing a payout ratio of 21.0%. &bull For comparison, Riverstone had a payout ratio of c.50%. A 50% payout ratio at Medtecs translates to a DPS of US$0.1199 (S$0.1597), representing a yield of 14.5% based on Medtecs&rsquo pre-announcement closing price of S$1.10 on 26 Feb 2021. &bull On this front, we believe Medtecs is looking to conserve cash to expand into new product lines or pursue M& As &bull While success for Medtecs&rsquo expansion is not guaranteed, we believe this is important for the long-term sustainability of the group. Demand in 1H21 looks stable &bull We believe the market will focus on the potential impact the improving pandemic situation may have on performance in FY21F. &bull We think a better performance across all segments is likely on a y-o-y basis with 1H21 looking stable compared to 2H20. &bull Optimistically, Apron, Gown and Coverall and Face Mask deliveries in England, while having fluctuated, remain higher than in 3Q20 as of Feb-2021. &bull This may indicate that orders for PPE are still being delivered and this is positive for Medtecs. &bull While England may not be the best representative of global PPE demand, the country is one of Medtecs customers. As such, it may offer a good idea of post-vaccination PPE demand with the UK making good progress on its vaccinations (over 20m out of a population of c.67m have received at least 1 dose). &bull In addition, ASP of PPE, while having inched down by an estimated 2-3% from 4Q20, remain healthy leading to our overall view of a stable 1H21. Estimated PPE deliveries in England .  Source: Gov.uk, DBS Bank Maintain BUY with slightly lower TP of S$1.25 (Bear case: S$0.77, Bull case: S$1.60) based on pre-COVID low P/E of 9.5x on blended FY21/22F earnings. Our TP was revised down as we adjusted our base case assumptions for the Hospital Services and Trading & Distribution segments which were slightly too optimistic. This was also the reason behind our marginal 4% downward revision in FY21F earnings.
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vezted Member	07-Mar-2021 18:33        vezted About Contact  Quote this Post!
x 0   x 0  Alert Admin	Attended the Q& A session for Medtec International hosted by Maybank Kim Eng. The article summarise the key pointers mentioned during the Q& A session for those who have missed it. https://blog.vezted.com/medtec-sgx546-qa/... Personally think that the dividend declared is on the low side.
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1c2e3s Veteran	06-Mar-2021 22:26        1c2e3s About Contact  Quote this Post!
x 0   x 0  Alert Admin	many expect this to be next Sri trang mania after they post their Feb result.   I would likely to share with the rest that   Last year when medtec fly , I was expecting Sri trang to fly but it didn' t. Not to pour cold water but it important to know that this is a speculative stock so please be careful and trade with care. Due diligence is really warranted.  Fluffyclouds      ( Date: 06-Mar-2021 18:56) Posted: Best is wait for mainlisting mainboard + next quarter result. Facts with factual numbers. Then can choose camp side again lol. Who want invest invest lor. Dont want invest then bet against it. Dont bicker lol.
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Fluffyclouds Master	06-Mar-2021 18:56        Fluffyclouds About Contact  Quote this Post! Style: Fundamental   Mood:
x 0   x 0  Alert Admin	Best is wait for mainlisting mainboard + next quarter result. Facts with factual numbers. Then can choose camp side again lol. Who want invest invest lor. Dont want invest then bet against it. Dont bicker lol.
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Longtermer Elite	06-Mar-2021 16:09        Longtermer About Contact  Quote this Post! Style: Flexible   Yells: "A disciplined investor is a wealthy investor"
x 0   x 0  Alert Admin	Maybe you can provide estimates for 2021.. Looking at 2022 is too far fetch for now..   kiattttt      ( Date: 06-Mar-2021 15:27) Posted: Pls read whatever i have said or maybe i should try to break it down for u. Profit for 2022 onwards will not be as high as 2020 and 2021.  Longtermer      ( Date: 06-Mar-2021 14:14) Posted: I beg to differ.. Check out 2020 Q1, Q2, Q3 and Q4 numbers. As for FY2021, numbers will be closer to last 2 qtrs of 2020.  They are embarking on increasing mkt share through JV and direct gov deals. Dyodd..
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kiattttt Veteran	06-Mar-2021 15:27        kiattttt About Contact  Quote this Post!
x 0   x 0  Alert Admin	Pls read whatever i have said or maybe i should try to break it down for u. Profit for 2022 onwards will not be as high as 2020 and 2021.  Longtermer      ( Date: 06-Mar-2021 14:14) Posted: I beg to differ.. Check out 2020 Q1, Q2, Q3 and Q4 numbers. As for FY2021, numbers will be closer to last 2 qtrs of 2020.  They are embarking on increasing mkt share through JV and direct gov deals. Dyodd..  kiattttt      ( Date: 06-Mar-2021 13:45) Posted: It will be profitable, just not as much as this year and last year
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Longtermer Elite	06-Mar-2021 14:14        Longtermer About Contact  Quote this Post! Style: Flexible   Yells: "A disciplined investor is a wealthy investor"
x 0   x 0  Alert Admin	I beg to differ.. Check out 2020 Q1, Q2, Q3 and Q4 numbers. As for FY2021, numbers will be closer to last 2 qtrs of 2020.  They are embarking on increasing mkt share through JV and direct gov deals. Dyodd..  kiattttt      ( Date: 06-Mar-2021 13:45) Posted: It will be profitable, just not as much as this year and last year Longtermer      ( Date: 05-Mar-2021 22:56) Posted: Medtecs will be very profitable for the coming years..  I am actually optimistic that their global stockpiling solutions for many countries will eventually be done deals.  It need time for governmental approval and budgets to be passed.  Philippines likely to be next after Sg and Taiwan.
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kiattttt Veteran	06-Mar-2021 13:45        kiattttt About Contact  Quote this Post!
x 0   x 0  Alert Admin	It will be profitable, just not as much as this year and last year Longtermer      ( Date: 05-Mar-2021 22:56) Posted: Medtecs will be very profitable for the coming years..  I am actually optimistic that their global stockpiling solutions for many countries will eventually be done deals.  It need time for governmental approval and budgets to be passed.  Philippines likely to be next after Sg and Taiwan.      boyboy61      ( Date: 05-Mar-2021 21:39) Posted: Medtecs International to sustain high profit margin: DBS This is despite the expected drop in demand for PPEs. Medtecs International Corporation will continue to have soaring profits despite vaccine rollouts bringing down the demand for personal protective equipment (PPE) and average sale prices (ASP) decline, according to DBS Group Research. DBS Group Research said they expect Medtecs International?s ASP sales volume to remain at 90% and 60% above pre-pandemic levels which will be boosted by a higher proportion of sales of self-branded products and new customer relationships formed during the pandemic. Medtecs International is expected to earn 27.8x that of its earnings in 2019 for FY 2022. ?We estimate that Medtecs could generate a cash pile of well over US$100m by end-FY21F which could fuel the group?s M&A efforts or catalyse the reinstatement of a regular dividend policy,? DBS Group Research said. In a recent company report, Medtecs International saw an increase of 480.4% to 532.6m (US$400.3m) for the year-ended 31 December 2020. Gross profits were recorded to reach $228.3m (US$171.6m) for FY 2020, 1,529.7% change from the previous year?s $13.9m (US$10.5m) whilst net profit also saw an increase to $175.2m (US$131.7m) compared to $1.59m (US$1.2m) in 2019.
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Longtermer Elite	06-Mar-2021 13:40        Longtermer About Contact  Quote this Post! Style: Flexible   Yells: "A disciplined investor is a wealthy investor"
x 0   x 0  Alert Admin	These WHO measures are temporary and used during emergency when PPEs are unavailable. Governments learnt that stockpiling may be the way to go to avoid exposing healthcare workers unnecessarily. 1c2e3s      ( Date: 06-Mar-2021 11:54) Posted: https://apps.who.int/iris/bitstream/handle/10665/331695/WHO-2019-nCov-IPC_PPE_use-2020.3-eng.pdf WHO stresses that these temporary measures should be avoided as much as possible when caring for severe or critically ill COVID-19 patients, and for patients with known co-infections of multi-drug resistant or other organisms transmitted by contact (e.g. Klebsiella pneumoniae) or droplets (e.g. influenza virus). The following temporary measures could be considered independently or in combination, depending on the local situation: 1. PPE extended use (using for longer periods of time than normal according to standards) 2. Reprocessing followed by reuse (after cleaning or decontamination/sterilization) of either reusable or disposable PPE 3. Considering alternative items compared with the standards recommended by WHO. WarChild      ( Date: 06-Mar-2021 11:42) Posted: My friend works in hospital and the Medtecs PPE they use are discarded per use. Hope that answers.
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1c2e3s Veteran	06-Mar-2021 11:54        1c2e3s About Contact  Quote this Post!
x 0   x 0  Alert Admin	https://apps.who.int/iris/bitstream/handle/10665/331695/WHO-2019-nCov-IPC_PPE_use-2020.3-eng.pdf WHO stresses that these temporary measures should be avoided as much as possible when caring for severe or critically ill COVID-19 patients, and for patients with known co-infections of multi-drug resistant or other organisms transmitted by contact (e.g. Klebsiella pneumoniae) or droplets (e.g. influenza virus). The following temporary measures could be considered independently or in combination, depending on the local situation: 1. PPE extended use (using for longer periods of time than normal according to standards) 2. Reprocessing followed by reuse (after cleaning or decontamination/sterilization) of either reusable or disposable PPE 3. Considering alternative items compared with the standards recommended by WHO. WarChild      ( Date: 06-Mar-2021 11:42) Posted: My friend works in hospital and the Medtecs PPE they use are discarded per use. Hope that answers.
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1c2e3s Veteran	06-Mar-2021 11:50        1c2e3s About Contact  Quote this Post!
x 0   x 0  Alert Admin	You sure ? Let me know if you need the link.  WarChild      ( Date: 06-Mar-2021 11:42) Posted: My friend works in hospital and the Medtecs PPE they use are discarded per use. Hope that answers.
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WarChild Member	06-Mar-2021 11:42        WarChild About Contact  Quote this Post!
x 0   x 0  Alert Admin	My friend works in hospital and the Medtecs PPE they use are discarded per use. Hope that answers.
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1c2e3s Veteran	06-Mar-2021 11:37        1c2e3s About Contact  Quote this Post!
x 0   x 0  Alert Admin	Yes. The GP told me. I heard from others that the ppe in singapore will be reducing. You can ask ur GP or nurse friend for the honest answer  boyboy61      ( Date: 06-Mar-2021 11:11) Posted: I dun think ppe can be reused 1c2e3s      ( Date: 06-Mar-2021 10:28) Posted: The government want to stockpile medical glove as it has expiry date   however the demand for ppe   in singapore has reduced it can be reused.
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boyboy61 Supreme	06-Mar-2021 11:11        boyboy61 About Contact  Quote this Post!
x 0   x 0  Alert Admin	I dun think ppe can be reused 1c2e3s      ( Date: 06-Mar-2021 10:28) Posted: The government want to stockpile medical glove as it has expiry date   however the demand for ppe   in singapore has reduced it can be reused.  Longtermer      ( Date: 05-Mar-2021 22:56) Posted: Medtecs will be very profitable for the coming years..  I am actually optimistic that their global stockpiling solutions for many countries will eventually be done deals.  It need time for governmental approval and budgets to be passed.  Philippines likely to be next after Sg and Taiwan.
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1c2e3s Veteran	06-Mar-2021 10:28        1c2e3s About Contact  Quote this Post!
x 0   x 0  Alert Admin	The government want to stockpile medical glove as it has expiry date   however the demand for ppe   in singapore has reduced it can be reused.  Longtermer      ( Date: 05-Mar-2021 22:56) Posted: Medtecs will be very profitable for the coming years..  I am actually optimistic that their global stockpiling solutions for many countries will eventually be done deals.  It need time for governmental approval and budgets to be passed.  Philippines likely to be next after Sg and Taiwan.      boyboy61      ( Date: 05-Mar-2021 21:39) Posted: Medtecs International to sustain high profit margin: DBS This is despite the expected drop in demand for PPEs. Medtecs International Corporation will continue to have soaring profits despite vaccine rollouts bringing down the demand for personal protective equipment (PPE) and average sale prices (ASP) decline, according to DBS Group Research. DBS Group Research said they expect Medtecs International?s ASP sales volume to remain at 90% and 60% above pre-pandemic levels which will be boosted by a higher proportion of sales of self-branded products and new customer relationships formed during the pandemic. Medtecs International is expected to earn 27.8x that of its earnings in 2019 for FY 2022. ?We estimate that Medtecs could generate a cash pile of well over US$100m by end-FY21F which could fuel the group?s M&A efforts or catalyse the reinstatement of a regular dividend policy,? DBS Group Research said. In a recent company report, Medtecs International saw an increase of 480.4% to 532.6m (US$400.3m) for the year-ended 31 December 2020. Gross profits were recorded to reach $228.3m (US$171.6m) for FY 2020, 1,529.7% change from the previous year?s $13.9m (US$10.5m) whilst net profit also saw an increase to $175.2m (US$131.7m) compared to $1.59m (US$1.2m) in 2019.
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Longtermer Elite	05-Mar-2021 22:56        Longtermer About Contact  Quote this Post! Style: Flexible   Yells: "A disciplined investor is a wealthy investor"
x 0   x 0  Alert Admin	Medtecs will be very profitable for the coming years..  I am actually optimistic that their global stockpiling solutions for many countries will eventually be done deals.  It need time for governmental approval and budgets to be passed.  Philippines likely to be next after Sg and Taiwan.      boyboy61      ( Date: 05-Mar-2021 21:39) Posted: Medtecs International to sustain high profit margin: DBS This is despite the expected drop in demand for PPEs. Medtecs International Corporation will continue to have soaring profits despite vaccine rollouts bringing down the demand for personal protective equipment (PPE) and average sale prices (ASP) decline, according to DBS Group Research. DBS Group Research said they expect Medtecs International?s ASP sales volume to remain at 90% and 60% above pre-pandemic levels which will be boosted by a higher proportion of sales of self-branded products and new customer relationships formed during the pandemic. Medtecs International is expected to earn 27.8x that of its earnings in 2019 for FY 2022. ?We estimate that Medtecs could generate a cash pile of well over US$100m by end-FY21F which could fuel the group?s M&A efforts or catalyse the reinstatement of a regular dividend policy,? DBS Group Research said. In a recent company report, Medtecs International saw an increase of 480.4% to 532.6m (US$400.3m) for the year-ended 31 December 2020. Gross profits were recorded to reach $228.3m (US$171.6m) for FY 2020, 1,529.7% change from the previous year?s $13.9m (US$10.5m) whilst net profit also saw an increase to $175.2m (US$131.7m) compared to $1.59m (US$1.2m) in 2019.
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boyboy61 Supreme	05-Mar-2021 21:39        boyboy61 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Medtecs International to sustain high profit margin: DBS This is despite the expected drop in demand for PPEs. Medtecs International Corporation will continue to have soaring profits despite vaccine rollouts bringing down the demand for personal protective equipment (PPE) and average sale prices (ASP) decline, according to DBS Group Research. DBS Group Research said they expect Medtecs International?s ASP sales volume to remain at 90% and 60% above pre-pandemic levels which will be boosted by a higher proportion of sales of self-branded products and new customer relationships formed during the pandemic. Medtecs International is expected to earn 27.8x that of its earnings in 2019 for FY 2022. ?We estimate that Medtecs could generate a cash pile of well over US$100m by end-FY21F which could fuel the group?s M&A efforts or catalyse the reinstatement of a regular dividend policy,? DBS Group Research said. In a recent company report, Medtecs International saw an increase of 480.4% to 532.6m (US$400.3m) for the year-ended 31 December 2020. Gross profits were recorded to reach $228.3m (US$171.6m) for FY 2020, 1,529.7% change from the previous year?s $13.9m (US$10.5m) whilst net profit also saw an increase to $175.2m (US$131.7m) compared to $1.59m (US$1.2m) in 2019.
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stockman20 Senior	05-Mar-2021 20:35        stockman20 About Contact  Quote this Post!
x 0   x 0  Alert Admin	already foreseen that the stock price is being supressed by some unknown and controlling forces to match both tw and sg price.
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ec0101 Veteran	05-Mar-2021 19:13        ec0101 About Contact  Quote this Post! Style: Flexible   Mood: Yells: "Do what you have to do."
x 1   x 0  Alert Admin	https://sbr.com.sg/healthcare/news/medtecs-international-sustain-high-profit-margin-dbs For anyone who is too lazy to vet through DBS' s analyst report, I think this pretty much summarises it.
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morventay Member	05-Mar-2021 17:30        morventay About Contact  Quote this Post!
x 0   x 0  Alert Admin	https://www.youtube.com/watch?v=dW3PS3sGc_U This is so funny~ but it gets the message across.
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