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Sanli forum after it ipo
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Joelton
Supreme |
13-Feb-2024 10:14
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Sanli Environmental eyes opportunities in local coastal protection, climate change efforts
Singapore&rsquo s S$100 billion coastal protection plan, which was first announced in 2019, will be one new area of focus for the company.
OVER the past 15 years, environmental engineering company Sanli Environmental : 1E3 0% has focused mainly on potable water production as well as the construction and maintenance of wastewater plants.
&ldquo The business (for these two areas) will always be there,&rdquo Sanli&rsquo s chief executive Sim Hock Heng said in an interview with The Business Times, noting that countries in South-east Asia and around the world have been &ldquo pumping a lot of funds&rdquo into the development of such infrastructure.
But, as governments around the world step up climate change, environmental protection and renewables efforts, Sim believes that Sanli is in a sweet spot to tap the opportunities arising from these changes.
As concerns swell over the rise of seawater levels, the company is now looking into coastal protection projects. In particular, it has its eye on Singapore&rsquo s S$100 billion coastal protection plan, first announced in 2019.
&ldquo I think we are really in the right position at the right time, where people are starting to become more aware of environmental (protection). So, we have positioned ourselves well to capture these (opportunities),&rdquo Sim said.
Small but adaptive
Competition is expected to be fierce, as more companies fight for a slice of the pie amid the global push for more environmentally friendly business models.
While Sanli is relatively small &ndash it has a market capitalisation of just S$27.1 million as at Feb 9 &ndash Sim believes that it can hold its own.
Small and medium-sized enterprises such as Sanli often encounter problems because the leaders of these companies are unable to &ldquo run their companies in a different manner&rdquo , Sim noted.
Managing Sanli prior to its listing on the Catalist board of the Singapore Exchange in 2017, he said, was a &ldquo very different ball game&rdquo . The company grew its headcount from around 70 prior to listing, to about 500 employees in Singapore presently.
The coronavirus pandemic, high inflation levels and geopolitical tensions are some of the factors that have made the past three years challenging, he said. &ldquo It&rsquo s all about adapting... we cannot run the business as and when we want it.&rdquo
Sanli is headquartered in Singapore, and has offices in Malaysia and Myanmar. Its key customer in Singapore is PUB, the city-state&rsquo s national water agency. The company also handles works for PUB&rsquo s water plant in Malaysia.
In Myanmar, Sanli has contracts in cities such as Yangon, Mawlamyine and Mandalay.
Although Sanli has grown its presence over the years in South-east Asia, Sim stressed that the company will remain focused on its core businesses.
&ldquo How Sanli operates is that we don&rsquo t believe that we should be running everywhere and not being focused on what the company is doing,&rdquo he said.
&ldquo We are in the process of setting up teams to go into other industries, other sectors... while keeping the core team still intact.&rdquo
Cleaner, greener projects
Sanli is looking to &ldquo step up&rdquo and expand its areas of operations. In its financial results for the fiscal year 2023 ended March last year, it said that it is looking at opportunities in green technologies as part of diversification efforts to enlarge revenue base.
In FY2023, the company garnered approval from its shareholders to manufacture magnesium hydroxide slurry that can be used in a range of industrial projects under its wholly owned unit Mag Chemical.
Sanli has set up and commissioned a magnesium hydroxide slurry manufacturing plant, and has started to engage customers for this business.
In that fiscal year, the group also began to provide environmental engineering solutions for water and wastewater treatment, as well as air pollution control and solid waste management, to the industrial sector in Singapore and South-east Asia through another wholly owned unit. The company noted an &ldquo increasing interest&rdquo among customers for its solutions.
Sim said that the group also intends to go into the solar business in Thailand&rsquo s electricity market and will scour other markets in South-east Asia for similar opportunities.
While acknowledging that it may be challenging for Sanli to embark on a new business such as solar, he said that the company plans to ease its entry by tying up with local partners in the potential markets.
For Thailand, Sanli entered into a joint venture to invest in and undertake commercial and industrial water and wastewater treatment projects, as well as renewable energy projects. Sanli&rsquo s unit Sanli M& E Engineering holds a 49 per cent stake in the share capital of the joint venture firm.
For a company that used to derive most of its revenue from a single customer, Sim said that Sanli has also been making efforts to diversify its revenue streams to prevent lumpy earnings and mitigate risks given the cyclical nature of the businesses.
In January, Sanli announced that it had clinched local contracts worth a total of S$35 million for a range of services. These contracts, the group said, signified the expansion of its client base with the addition of customers such as Tuas Power, Gardens by the Bay and the Urban Redevelopment Authority.
These new contracts also brought the group&rsquo s order book to S$335.9 million. A majority of these contracts will be fulfilled over the next three years.
Stronger earnings, growth potential
For FY24&rsquo s first half ended September 2023, Sanli posted a 9.3 per cent increase in net profit to S$1.6 million from S$1.5 million in the corresponding year-ago period.
The stronger bottom line was due chiefly to a 29.8 per cent increase in revenue to S$50.7 million, but was partially offset by a 28.7 per cent increase in its cost of contract works to S$43.5 million.
Diversifying from a single primary sector will provide a buffer from top-line fluctuations and more stability, explained Sim. Certain sectors that Sanli operates in have a lumpy structure for recognising revenues, and is cyclical in nature so, diversification could offer investors some reprieve.
Looking ahead, Sim said that Sanli will be looking for opportunities in the South-east Asia region without closing its doors on any particular country.
For instance, he said developing countries are on Sanli&rsquo s radar. &ldquo When the countries start to develop, we can seize the opportunities,&rdquo he said, citing Cambodia, Indonesia and the Philippines as examples.
&ldquo When there are good deals, we will be there,&rdquo he added.
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Joelton
Supreme |
25-Jan-2024 11:54
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Sanli Environmental may see earnings double on contracts expected to be won, says SAC Capital
Sanli Environmental has shown its niche expertise in a potentially big industry. Given the trajectory of contracts won, the company might be able to double its earnings in the coming two, or three years, says SAC Capital' s Matthias Chan.
In his unrated note on Jan 24, Chan points out that Sanli Environmental 1E3 1.01% is the only engineering company involved in the engineering, procurement and construction (EPC) of the network of water pumping systems for the land reclamation project at Pulau Tekong.
The reclamation, as Chan notes, is via an alternative method of using polders, which is deemed a breakthrough and is setting the way for how Singapore will reclaim land in the future.
Specifically, the recently announced Long Island along mainland Singapore' s East Coast is one such mega project where relevant engineering expertise is required.
Besides expanding available land, the Long Island project is also part of a $100 billion coastal protection plan to help Singapore ward off rising sea levels given ongoing global warming.
" Based on similar past projects, it is evident that very niche technical expertise is necessary to fulfil the criteria needed to execute the coastal protection plan.
" From our observations, typically only three service providers vie for such projects including Sanli Environmental," says Chan.
In addition, the company stumbled on a &ldquo magnesium mine" while working on a water treatment project with PUB.
As Chan describes it, while doing so, Sanli discovered the benefits of magnesium hydroxide slurry to environmental protection, especially the effort to reduce sulfur emissions from ships.
" Sanli is devoting resources to this new niche business engine and we will not be surprised if contracts are forthcoming," he adds.
According to Chan' s estimates, just on the trajectory of contracts awarded for coastal protection and water/wastewater projects relative to Sanli&rsquo s FY23 revenue of around $100 million, its revenue and net profit can maybe double within 3 years.
Ignoring economies of scale and conservatively ascribing FY2023 net margin of 4% to the next few years, Sanli&rsquo s earnings for the coming FY2025 and FY2026 could be closer to $9 million, for an undemanding forward PE of 3x, says Chan.
Just on Jan 22, the environmental engineering company announced the contract wins which has brought its order book to some $335.9 million, to be fulfilled over the next three years.
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trader1970
Elite |
24-Jan-2024 11:21
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Lining up the sell queue to be pumped up?.... Looks like ready and awaiting for the leader call... WATCH.. :): | ||||
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Joelton
Supreme |
23-Jan-2024 16:32
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Sanli Environmental subsidiary secures contracts totalling $35 mil
Sanli M& E Engineering, a wholly-owned subsidiary of Sanli Environmental 1E3 0.00% , has secured contracts in Singapore with an aggregate value of $35 million.
On Jan 22, the environmental engineering company announced the contract wins, which encompass a diverse range of projects and maintenance services.
These include servicing and maintenance of multiple water plants for the public utilities board (PUB), the overhaul of 6.6KV Induction Motors for Tuas Power, the comprehensive maintenance of the Flower Dome external shading system at Gardens by the Bay and replacing the sump pump system and relocating control panels at a facility in Marina Bay for the Urban Redevelopment Authority (URA).
The projects will also contribute significantly to the company&rsquo s current order book, which now stands at approximately $335.9 million. The majority of the order book is expected to be fulfilled over the next three years.
Sanli CEO Sim Hock Heng says the achievements signify the expansion of its clientele with the addition of organisations such as Tuas Power, Gardens by the Bay and URA. &ldquo We will continue to build up our order book to drive our growth, by leveraging our strong environmental engineering expertise and track record. We have also moved to our new premises at 22 Chin Bee Drive, which houses our corporate office, workshop, and dormitory in one location and allows us to enhance our efficiencies while lowering our long-term operating costs,&rdquo he adds.
While the financial impact on earnings per share or net tangible assets per share for the FY2024 ending March 31 is expected to be minimal, Sanli expects the contracts to positively contribute to its financial performance in the subsequent FY2025.
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trader1970
Elite |
22-Jan-2024 21:46
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Sanli Environmental subsidiary secures contracts totalling $35 mil Bryan Wu Mon, Jan 22, 2024 &bull 06:39 PM GMT+08 &bull &bull 2 min read
Sanli M& E Engineering, a wholly-owned subsidiary of Sanli Environmental 1E3 0.00% , has secured contracts in Singapore with an aggregate value of $35 million. On Jan 22, the environmental engineering company announced the contract wins, which encompass a diverse range of projects and maintenance services. These include servicing and maintenance of multiple water plants for the public utilities board (PUB), the overhaul of 6.6KV Induction Motors for Tuas Power, the comprehensive maintenance of the Flower Dome external shading system at Gardens by the Bay and replacing the sump pump system and relocating control panels at a facility in Marina Bay for the Urban Redevelopment Authority (URA). The projects will also contribute significantly to the company&rsquo s current order book, which now stands at approximately $335.9 million. The majority of the order book is expected to be fulfilled over the next three years.
Sanli CEO Sim Hock Heng says the achievements signify the expansion of its clientele with the addition of organisations such as Tuas Power, Gardens by the Bay and URA. &ldquo We will continue to build up our order book to drive our growth, by leveraging our strong environmental engineering expertise and track record. We have also moved to our new premises at 22 Chin Bee Drive, which houses our corporate office, workshop, and dormitory in one location and allows us to enhance our efficiencies while lowering our long-term operating costs,&rdquo he adds. While the financial impact on earnings per share or net tangible assets per share for the FY2024 ending March 31 is expected to be minimal, Sanli expects the contracts to positively contribute to its financial performance in the subsequent FY2025. |
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trader1970
Elite |
17-Sep-2023 22:50
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www.theedgesingapore.com/news/company-news/sanli-environmental-consolidate-operations-newly-acquired-22-chin-bee-driveSanli Environmental to consolidate operations at newly acquired 22 Chin Bee DriveFri, Sep 15, 2023 &bull 06:07 PM GMT+08 &bull 2 days ago &bull 2 min readCatalist-listed Sanli Environmental 1E3 0.00% is consolidating its operations at 22 Chin Bee Drive, after completing the acquisition of the property. The property was acquired for $13.8 million from Perpetial (Asia), in its capacity as trustee of ESR-LOGOS REIT . Through the acquisition, the company aims to streamline its corporate office and workshops, while also providing a centralised accommodation solution for its foreign workforce. &ldquo A significant challenge in recruiting foreign workers in Singapore has been the limited availability of dormitory spaces. With the property equipped to house up to 270 foreign workers, the group is now well positioned to effectively address the dormitory shortage that previously hampered its operations,&rdquo it says in a filing. Sanli&rsquo s operations and maintenance workshop as well as its magnesium hydroxide slurry manufacturing operation under its wholly-owned subsidiary Mag Chemical will both be consolidated at the new location. &ldquo The consolidation of the group&rsquo s operations in one location will allow us to address the shortage of dormitory facilities in Singapore and it will enhance our operating efficiencies while lowering our operating costs for the long term,&rdquo says Sanli executive director and CEO Sim Hock Heng. Following the acquisition exercise, the company will be disposing of its leasehold properties at 15 Kian Teck Drive and 28 Kian Teck Drive for $3 million and $4.95 million respectively. |
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buayjinchu
Senior |
28-Jul-2023 19:17
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Final dividend of SGD0.00768 declared, Ex-Date on 10 Aug. | ||||
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trader1970
Elite |
16-Jun-2023 12:31
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Slow and steady rise. Quietly eating up.. :):) shhhhhh.. be patient ..
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easywin
Supreme |
15-Jun-2023 16:22
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Got some movement Vol still low buy in but not easy to sell
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chiachiawee
Elite |
15-Jun-2023 16:08
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Well, Im in too. Recent flush a good opportunity to pick up at 10c. yield 7%. lol. cheers.
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sengkang
Master |
15-Jun-2023 16:05
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Great fundamentals. EDB Inv had unfortunately divested. Need more big funds to be SSH aside the 2 main founding SSH. Strong technical support at 10.0c. Good divvy yield at more than 7%.
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trader1970
Elite |
15-Jun-2023 15:46
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Tested some sales today... UBS and HSBC buying..... ... seems like more play in action soon. Be patient and this should fly to touch 13..recent high....
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shk363
Elite |
26-May-2023 10:29
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20 cts otw | ||||
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easywin
Supreme |
26-May-2023 10:27
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This will be like Heap Tong 150 should not be any issue
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trader1970
Elite |
26-May-2023 10:24
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At 0.13 still deeply undervalued.. Be patient, it ll be played up... :):):) Proposed dividend is a plus on top of stellar results...
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easywin
Supreme |
26-May-2023 10:00
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Those manage to pick up at 122 very lucky | ||||
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Joelton
Supreme |
26-May-2023 09:44
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Sanli Environmental posts earnings of $4.3 mil in FY2023, up 138% y-o-y
Catalist-listed Sanli Environmental 1E3 0.00% has reported earnings of $4.3 million for its FY2023 ended March, up 138% y-o-y.
Earnings per share for the year stood at 1.63 cents.
Revenue for the year increased by 64.6% to $106.4 million. This is attributable to the 78.1% y-o-y increase from the engineering, procurement and construction (EPC) segment and 20.6% y-o-y increase from the operations and maintenance (O& M) segment.
Cost of contract works increased by 62% y-o-y to $92.2 million in FY2023. This is due to the increase in contract works for both the EPC and O& M segments, in line with the increase in revenue.
Gross profit increased 83.4% y-o-y to $14.3 million in FY2023, while gross profit margin increased to 13.4% in FY2023.
As at March 31, the company has a net asset value of $31.1 million. This translates into a net asset value per share of 11.68 Singapore cents, compared to 10.44 Singapore cents as at March 31, 2022.
&ldquo We will continue to build on this strong momentum for FY2024 and will continue to participate in upcoming tenders as we execute our $355 million order book. Our expansion into both the industrial sector and manufacturing business is also showing promise, as we make inroads into these areas to diversify our customer and revenue base,&rdquo says Sanli CEO Kew Boon Kee.
Sanli is proposing a first and final dividend of 0.768 cents per share.
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trader1970
Elite |
26-May-2023 09:21
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Agreed  125 and below gd price.. Dividend yield is more than 6% .... Room to move this darling to 0.15 and above soon.. Dun be surprised short squeeze in play later...
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easywin
Supreme |
26-May-2023 09:19
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Not many sellers btw 123/127, push down just grab | ||||
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trader1970
Elite |
26-May-2023 09:08
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Be patient, Bb collecting. Chance to hit 0.15 first.. ).20 also possible by next week :):)..... | ||||
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