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Thai Sri Trang sets IPO price at S$1.20 Post Reply Rate topic
Bintang Elite	13-Aug-2020 12:00        Bintang About Contact  Quote this Post! Style: Technical   Mood:
x 0   x 0  Alert Admin	STA is still going down for consolidation, reaching $1.10 may see a rebound as this is a critical support for the trend. Bintang      ( Date: 11-Aug-2020 22:44) Posted: STA broke its 10MA support at $1.30 with big volume , it would to go down to fill the gap at $1.10 in the near future . Bintang      ( Date: 07-Aug-2020 09:19) Posted: As the monthly closing of STA was a high wave candle stick , it would not be good in the near future. It came down after surging to $1.47 two days ago. Now its support is at 10MA around $1.30
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fengacepeople Member	13-Aug-2020 11:58        fengacepeople About Contact  Quote this Post!
x 0   x 0  Alert Admin	hi based on my past obversation in 2 glove counters, price drop before their results announcement that was when i picked up some discounts (disclaimer clause -> DYODD!!), the link posted below is not current as i read someone said report is tomorrow? dd  Friday, 17 July 2020  COMPANY UPDATE BUY (Maintained) Share Price Bt28.50 Target Price Bt42.00 Upside +47.4%    ???
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ghetto Master	13-Aug-2020 11:54        ghetto About Contact  Quote this Post! Style: Combined
x 0   x 0  Alert Admin	Am holding on tight. Some offer to buy cheap...
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den2328 Senior	13-Aug-2020 11:54        den2328 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Ignore the noises if you believe in the fundamentals. Just like how Medtec was hammered many times in the few weeks leading to results.
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Sgvale Supreme	13-Aug-2020 11:50        Sgvale About Contact  Quote this Post!
x 0   x 0  Alert Admin	Back to ipo price $1.20. No premium . Jaw dropped..
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patient168 Senior	13-Aug-2020 11:47        patient168 About Contact  Quote this Post!   Yells: "patience is the key to winning"
x 0   x 0  Alert Admin	Going to match the thai price.
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Greenpig Senior	13-Aug-2020 11:46        Greenpig About Contact  Quote this Post!
x 0   x 0  Alert Admin	Selling down ..
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3dw1nchu4 Veteran	13-Aug-2020 11:39        3dw1nchu4 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Yeah, now is a good time to hop on imo. Don' t FOMO later  furnaces      ( Date: 13-Aug-2020 11:34) Posted: Sri Trang Agro Q1 net profit is 854m baht.  According to UOB' s latest report, UOB is forecasting a 23% drop in Q2 net profit q-o-q to 660m baht. Despite this, UOB still raise its valuation of STA to 42 baht or S$1.855 on expectation of higher ASP in both rubber and glove for 2H 2020. https://research.sginvestors.io/2020/07/sri-trang-agro-industry-2q20-results-preview-uob-kay-hian-research-2020-07-17.html Will we really see a drop in Q2 net profit according to UOB analyst? I cannot be sure but I highly doubt so. Sri Trang Glove contributes about 421.89m baht net profit for Q1 to STA total earnings. This leaves around 432m baht net profit for its rubber and other businesses. Q2 is where many economies went into lockdown mode and with rubber prices falling during that period, company could be only making small profit or at breakeven levels for its rubber business. Rubber prices have since recovered from end May. Therefore, the key contributor for its Q2 is the glove business.  Sri Trang Glove traditionally enjoys gross profit margin of 12% and net profit margin of 5% (in 2019). And its Q1 2020 result is based on -2.5% ASP q-o-q, so we are coming from very low base which set stage for higher % increase. We know that Q2 glove ASP for Sri Trang is up roughly 15% according to reports. Hence, this means gross profit margin should be around 23.4% with net profit margin around 16.4%. This should represent a 16.4/5 =3.28 times increase in net profit over Q1. For its rubber segment, if I attribute a 0 baht for its rubber business (means the segment is only breaking even) and 3.28 times Q1 net profit for glove business, I estimate a 1.38b baht net profit for Q2. Company is planning to aggressively increase glove ASP in Q3 and Q4 and rubber prices have recovered from the lows. So we can be sure that net profit for 2H 2020 will be substantially higher. Result should be out today or tomorrow. If you have faith, keep this until result is out and decide for yourself.
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Sgvale Supreme	13-Aug-2020 11:38        Sgvale About Contact  Quote this Post!
x 0   x 0  Alert Admin	Is it a norm nowadays prior result release, price drop?
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furnaces Veteran	13-Aug-2020 11:34        furnaces About Contact  Quote this Post!
x 1   x 0  Alert Admin	Sri Trang Agro Q1 net profit is 854m baht.  According to UOB' s latest report, UOB is forecasting a 23% drop in Q2 net profit q-o-q to 660m baht. Despite this, UOB still raise its valuation of STA to 42 baht or S$1.855 on expectation of higher ASP in both rubber and glove for 2H 2020. https://research.sginvestors.io/2020/07/sri-trang-agro-industry-2q20-results-preview-uob-kay-hian-research-2020-07-17.html Will we really see a drop in Q2 net profit according to UOB analyst? I cannot be sure but I highly doubt so. Sri Trang Glove contributes about 421.89m baht net profit for Q1 to STA total earnings. This leaves around 432m baht net profit for its rubber and other businesses. Q2 is where many economies went into lockdown mode and with rubber prices falling during that period, company could be only making small profit or at breakeven levels for its rubber business. Rubber prices have since recovered from end May. Therefore, the key contributor for its Q2 is the glove business.  Sri Trang Glove traditionally enjoys gross profit margin of 12% and net profit margin of 5% (in 2019). And its Q1 2020 result is based on -2.5% ASP q-o-q, so we are coming from very low base which set stage for higher % increase. We know that Q2 glove ASP for Sri Trang is up roughly 15% according to reports. Hence, this means gross profit margin should be around 23.4% with net profit margin around 16.4%. This should represent a 16.4/5 =3.28 times increase in net profit over Q1. For its rubber segment, if I attribute a 0 baht for its rubber business (means the segment is only breaking even) and 3.28 times Q1 net profit for glove business, I estimate a 1.38b baht net profit for Q2. Company is planning to aggressively increase glove ASP in Q3 and Q4 and rubber prices have recovered from the lows. So we can be sure that net profit for 2H 2020 will be substantially higher. Result should be out today or tomorrow. If you have faith, keep this until result is out and decide for yourself.
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7ocean Master	13-Aug-2020 11:33        7ocean About Contact  Quote this Post!
x 0   x 0  Alert Admin	Sell no Fear....You Buy You Cry alvinlsm      ( Date: 13-Aug-2020 11:28) Posted: Thailand big drop
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alvinlsm Veteran	13-Aug-2020 11:28        alvinlsm About Contact  Quote this Post!
x 0   x 0  Alert Admin	Thailand big drop
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patient168 Senior	13-Aug-2020 11:26        patient168 About Contact  Quote this Post!   Yells: "patience is the key to winning"
x 0   x 0  Alert Admin	Totally agree. Many time  shorties use the  currency difference to press down the price as sta thai is the driver. If sta thai not move strongly > 30.00, no show here.  limjoeseph      ( Date: 13-Aug-2020 11:17) Posted: Like I said' many times' be mindful of the differential between STA Sing to the STA Thai as the STA Thai is the lead mkt by looking at its differential. Therefore to avoid paying the STA Sing over the STA in currency terms. Calculate! Calculate! Calulate the differential!!
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mala_xiangguo Member	13-Aug-2020 11:23        mala_xiangguo About Contact  Quote this Post!
x 0   x 0  Alert Admin	Some will say most gloves made of rubber. Some will say not.  It depends. Battle123      ( Date: 13-Aug-2020 11:08) Posted: juz to check most gloves make of rubber right
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Timer78 Veteran	13-Aug-2020 11:18        Timer78 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Ya agree. No point looking at STA.
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limjoeseph Supreme	13-Aug-2020 11:17        limjoeseph About Contact  Quote this Post!
x 0   x 0  Alert Admin	Like I said' many times' be mindful of the differential between STA Sing to the STA Thai as the STA Thai is the lead mkt by looking at its differential. Therefore to avoid paying the STA Sing over the STA in currency terms. Calculate! Calculate! Calulate the differential!!
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patient168 Senior	13-Aug-2020 11:17        patient168 About Contact  Quote this Post!   Yells: "patience is the key to winning"
x 0   x 0  Alert Admin	I agree. This one will follow Olam pattern.. look@bright      ( Date: 13-Aug-2020 11:15) Posted: always go back to fundamental, wait for the result
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3dw1nchu4 Veteran	13-Aug-2020 11:16        3dw1nchu4 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Yeah, less hype is always good look@bright      ( Date: 13-Aug-2020 11:15) Posted: always go back to fundamental, wait for the result
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look@bright Elite	13-Aug-2020 11:15        look@bright About Contact  Quote this Post!
x 0   x 0  Alert Admin	always go back to fundamental, wait for the result
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3dw1nchu4 Veteran	13-Aug-2020 11:13        3dw1nchu4 About Contact  Quote this Post!
x 0   x 0  Alert Admin	The good thing is, volume is picking up. Wait for shorts to get squeezed later in the afternoon.
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