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Thai Sri Trang sets IPO price at S$1.20 Post Reply Rate topic
Longtermer Elite	06-Aug-2020 11:53        Longtermer About Contact  Quote this Post! Style: Flexible   Yells: "A disciplined investor is a wealthy investor"
x 0   x 0  Alert Admin	RS TP raised to $5.51 after results .. Glove counters reversed and moving up strongly.. STA and STGT will benefit as well..  Abstract from DBS report for RS.. Looking ahead, DBS Research Group analyst Lee Keng Ling expects earnings for 2H2020 to be & ldquo even stronger& rdquo , as the company benefits fully from the higher ASPs and margins. & ldquo We expect the ASP uptrend to continue till December, vs our earlier expectation of ASP plateauing from September,& rdquo Lee says in an August 6 note. Further increases in ASPs and demand for gloves may well be seen as the world experiences a resurgence of Covid-19 cases and a second waves as countries ease their lockdowns. We have imputed a 50% y-o-y increase in ASP for healthcare gloves and 10% for the cleanroom segment in FY20F, and flat for both in FY21F. Gross margin is projected to further rise to 38% in FY20F and FY21F, from 35%, as ASP hikes more than offset the slight increase in costs, asserts Lee. To this end, she has raised her FY20/21F earnings forecast by 10% and 13% respectively. The counter& rsquo s current price-to-earnings of 23.7 times sees it trading at a 40% discount to its peers, observes Ling. She is maintaining her  buy  call on Riverstone at a revised target price of $5.51.
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hantanbl Senior	06-Aug-2020 11:31        hantanbl About Contact  Quote this Post!
x 0   x 0  Alert Admin	I already vested a lot at $1.1.  Today' s buying is for short term gamble betting on their better than expected Q2 result. I may be wrong, in next few days will know tritonyeah666      ( Date: 06-Aug-2020 11:12) Posted: this sri trang agro actually already moved up alot already, and ipo was already priced at high end as they capitalized on covid and gloves sentiment. What makes everyone so confident this can go higher? its not sustainable.
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tritonyeah666 Elite	06-Aug-2020 11:12        tritonyeah666 About Contact  Quote this Post!
x 0   x 0  Alert Admin	this sri trang agro actually already moved up alot already, and ipo was already priced at high end as they capitalized on covid and gloves sentiment. What makes everyone so confident this can go higher? its not sustainable.
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hantanbl Senior	06-Aug-2020 10:49        hantanbl About Contact  Quote this Post!
x 0   x 0  Alert Admin	Added another 15000 shares at $1.41. No bullet liao
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alvinlsm Veteran	06-Aug-2020 09:57        alvinlsm About Contact  Quote this Post!
x 0   x 0  Alert Admin	Today seems weak
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arcelfin27 Senior	06-Aug-2020 09:46        arcelfin27 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Bot some yestdy. Hope this goes up soon
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crystalbee Veteran	06-Aug-2020 00:21        crystalbee About Contact  Quote this Post!
x 0   x 0  Alert Admin	Thanks to bro limjoeseph  who is as an international rubber dealer for sharing information about rubber biz. I take  what he said as  views from a trade  expert. limjoeseph      ( Date: 05-Aug-2020 22:56) Posted: Haha, then I shall post according to my expert friend which sounds better right ?? Alternatively according to my indepth reasearch!!! Tomorrow I will move on to do short term trade for STGT. Keep quiet until 14 August results and I shall post results after 6.00pm and HUAT on 17 August
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crystalbee Veteran	05-Aug-2020 23:57        crystalbee About Contact  Quote this Post!
x 0   x 0  Alert Admin	Re-post UOB Kay Hian' s TP for STA  in reply to Desmond_T query about STA' s TP. crystalbee      ( Date: 03-Aug-2020 18:41) Posted: STA  slow slow but it  is moving up.  UOB set target price $1.84 based on 21 X 2021F PE for gloves biz which is on low  end. Currently many analysts have PE for gloves  producers  nearer to 30 and above. So if  STA' s PE for gloves biz is adjusted  higher, got chance to go pass $2.  That' s my opinion........but wait for exact results and  any analysts  re-rating.  Still best to do own  due diligence and set personal target price...everyone is different. Longtermer      ( Date: 31-Jul-2020 17:14) Posted: Just a re cap on the last Analysts report by UOB.. The TP was upgraded to $1.84.. Looking fwd to the coming results.. Sri Trang Agro-Industry (STA TB) UOB KayHian 2Q20 Results Preview: Quarterly Earnings To Have Bottomed For The Year   STA 2Q20 earnings are likely to be weaker than we had previously expected owing to the surge in raw material prices in late May-Jun 20 which pressured gross margins in the natural rubber business. However, 2H20 earnings could double hoh thanks to improvements in the natural rubber business and a very strong showing from the glove business. We have revised up our 2020-23 earnings projections by 16-39%. Maintain BUY with a new target price of    Bt42.00 (S$1.84)   WHATS NEW 2Q20 earnings to come in as the bottom for this year. We expect Sri Trang Agro- Industry (STA) 2Q20 earnings to come in at Bt660m, jumping 144% yoy from an especially low base in 2Q19 but reflecting a 23% qoq decline on a weaker performance from the natural rubber business. 2Q20 sales are expected to come in flat yoy but down 6% qoq on the lockdown of cities across the globe. 2Q20& rsquo s gross margin should come in at 14%, improving from 10% in 2Q19. However, 2Q20 gross margin should be flat qoq with the glove business& rsquo expectedly wider gross margin in 2Q20 offsetting the lower gross margins from the natural rubber business (as a result of the surge in local raw material prices in late- May-Jun 20 during which rubber supply was low).   STOCK IMPACT Glove business outlook to remain promising till 2021. Management expects ASPs to increase by 10-15% qoq in 2Q20 and ASPs in 3Q20 to increase by a larger degree of > 15% qoq. This is because the company is expected to actuate a new pricing policy where it will raise prices aggressively in 3Q20 so that ASPs in the quarter would be about the same as that in 4Q20. This is targeted at accelerating profit growth in 3Q20. It also expects ASPs in 4Q20 to come in flat qoq. Note that in Jul 20, the nitrile glove prices were set at US$60.00/1,000 pieces and latex glove prices were set at US$42.00/1,000 pieces (glove ASP in 1Q20 was at US$19.50/1,000 pieces)   Besides this, management believes glove demand will remain strong until 1H21. In addition, management guided that its glove business& rsquo gross margin would not be lower than that recorded in 1Q20 (19%) even after the COVID-19 outbreak subsides & minus mainly thanks to economies of scale on capacity expansion. In the long-term, the company projects glove demand in emerging countries would be solid due to the very low glove consumption per capita vs that of developed countries (US: 150 pieces per capita Thailand 20 pieces per capita, China 10 pieces per capita and Africa 4 pieces per capita).   2H20 earnings to double on a hoh basis. 2H20 earnings are likely to double from 1H20 earnings. The key drivers would be: a) an improvement in the natural rubber business as local raw material prices are now declining on seasonally larger market output and b) huge earnings contribution from Sri Trang Gloves (STGT) due to an ASP jump.   EARNINGS REVISION/RISK We have revised up our 2020-21 earnings projections as tabulated below. We have a more positive outlook towards the glove and natural rubber businesses for 2H20 and onwards.   VALUATION/RECOMMENDATION Maintain BUY with a higher target price of Bt42.00, based on SOTP valuation. We have pegged a valuation of 7x 2021F PE (below the stock 10 year mean at 13x) to the natural rubber business and 21x 2021F PE (in line with competitor Kossan Rubber Industry 5-year mean PE of 21x) to the glove business.
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hantanbl Senior	05-Aug-2020 23:11        hantanbl About Contact  Quote this Post!
x 0   x 0  Alert Admin	Bro you are not LowLow12 right? Many kena from this Low and licking their wounds till now! limjoeseph      ( Date: 05-Aug-2020 22:56) Posted: Haha, then I shall post according to my expert friend which sounds better right ?? Alternatively according to my indepth reasearch!!! Tomorrow I will move on to do short term trade for STGT. Keep quiet until 14 August results and I shall post results after 6.00pm and HUAT on 17 August
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gregtan123 Supreme	05-Aug-2020 23:02        gregtan123 About Contact  Quote this Post!
x 0   x 0  Alert Admin	i slowly accumulating more also. waiting for 14/17 aug limjoeseph      ( Date: 05-Aug-2020 22:56) Posted: Haha, then I shall post according to my expert friend which sounds better right ?? Alternatively according to my indepth reasearch!!! Tomorrow I will move on to do short term trade for STGT. Keep quiet until 14 August results and I shall post results after 6.00pm and HUAT on 17 August
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limjoeseph Supreme	05-Aug-2020 22:56        limjoeseph About Contact  Quote this Post!
x 0   x 0  Alert Admin	Haha, then I shall post according to my expert friend which sounds better right ?? Alternatively according to my indepth reasearch!!! Tomorrow I will move on to do short term trade for STGT. Keep quiet until 14 August results and I shall post results after 6.00pm and HUAT on 17 August
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gregtan123 Supreme	05-Aug-2020 22:34        gregtan123 About Contact  Quote this Post!
x 0   x 0  Alert Admin	bro u keep talking about this insider? this insider is who? like that may constitute insider trading lei haha. but relax i also want STA go 2 limjoeseph      ( Date: 05-Aug-2020 22:28) Posted: Posted: 05-Aug-2020 21:40 x 0  x what is TP of sritang? Wat is profit expectation of Q2? thanks UOB release report in July targeted at S$1.84 at present exchange rate 0.04415 (42 Baht) but 2nd quarters earnings at 660 Million much lower than 1st quarter at 845 Million Baht. According to my insider info instead, 2nd quarters results potentially minimum higher than 1st quarter result at 945 million Baht. Pl do your own due diligence. Basis my own calculation, basis 86 Baht for STGT at today's close, 56% earnings is equal to 48 Baht less 20 % discount at 9.6 Baht equal 38.4 Baht valuing from gloves extrapolation. Now using Halcyon share price of $0.23 equal 5.2 Baht, we add up to 43.60 Baht (S$1.92) before end September. Lets see how my TP will pan out from my hypothetical estimation. Frankly it is anybody's guess! Please do your own due diligence. NB: Insider says STA is extremely under valued at current levels and better to ride it out towards year end for medium to long term investors as good earnings contribution from STGT every quarter coupled with the fact that rubber prices could have bottom out for the rest of the year.
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limjoeseph Supreme	05-Aug-2020 22:28        limjoeseph About Contact  Quote this Post!
x 0   x 0  Alert Admin	Posted: 05-Aug-2020 21:40 x 0  x what is TP of sritang? Wat is profit expectation of Q2? thanks UOB release report in July targeted at S$1.84 at present exchange rate 0.04415 (42 Baht) but 2nd quarters earnings at 660 Million much lower than 1st quarter at 845 Million Baht. According to my insider info instead, 2nd quarters results potentially minimum higher than 1st quarter result at 945 million Baht. Pl do your own due diligence. Basis my own calculation, basis 86 Baht for STGT at today's close, 56% earnings is equal to 48 Baht less 20 % discount at 9.6 Baht equal 38.4 Baht valuing from gloves extrapolation. Now using Halcyon share price of $0.23 equal 5.2 Baht, we add up to 43.60 Baht (S$1.92) before end September. Lets see how my TP will pan out from my hypothetical estimation. Frankly it is anybody's guess! Please do your own due diligence. NB: Insider says STA is extremely under valued at current levels and better to ride it out towards year end for medium to long term investors as good earnings contribution from STGT every quarter coupled with the fact that rubber prices could have bottom out for the rest of the year.
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gregtan123 Supreme	05-Aug-2020 22:08        gregtan123 About Contact  Quote this Post!
x 0   x 0  Alert Admin	14 august results. vested more today, will add tmr or friday.
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arcelfin27 Senior	05-Aug-2020 22:01        arcelfin27 About Contact  Quote this Post!
x 0   x 0  Alert Admin	wonder if we can see $1.80 this week. esp next week is short week. Sgvale      ( Date: 05-Aug-2020 21:24) Posted: Sri Trang less 2 weeks due for result announcement. Sgvale      ( Date: 05-Aug-2020 21:21) Posted: UG Healthcare result out on 11th August. Buyers had bought ahead 2 weeks ago pushing it from 1.66 all the way to 3.29 now prior result announcement!
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Desmond_T Member	05-Aug-2020 21:40        Desmond_T About Contact  Quote this Post!
x 0   x 0  Alert Admin	what is TP of sritang? Wat is profit expectation of Q2? thanks Sgvale      ( Date: 05-Aug-2020 21:24) Posted: Sri Trang less 2 weeks due for result announcement. Sgvale      ( Date: 05-Aug-2020 21:21) Posted: UG Healthcare result out on 11th August. Buyers had bought ahead 2 weeks ago pushing it from 1.66 all the way to 3.29 now prior result announcement!
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PQTPQK Supreme	05-Aug-2020 21:27        PQTPQK About Contact  Quote this Post!
x 0   x 0  Alert Admin	But still not pushing leh? Sgvale      ( Date: 05-Aug-2020 21:24) Posted: Sri Trang less 2 weeks due for result announcement. Sgvale      ( Date: 05-Aug-2020 21:21) Posted: UG Healthcare result out on 11th August. Buyers had bought ahead 2 weeks ago pushing it from 1.66 all the way to 3.29 now prior result announcement!
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Sgvale Supreme	05-Aug-2020 21:24        Sgvale About Contact  Quote this Post!
x 0   x 0  Alert Admin	Sri Trang less 2 weeks due for result announcement. Sgvale      ( Date: 05-Aug-2020 21:21) Posted: UG Healthcare result out on 11th August. Buyers had bought ahead 2 weeks ago pushing it from 1.66 all the way to 3.29 now prior result announcement!
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Sgvale Supreme	05-Aug-2020 21:21        Sgvale About Contact  Quote this Post!
x 0   x 0  Alert Admin	UG Healthcare result out on 11th August. Buyers had bought ahead 2 weeks ago pushing it from 1.66 all the way to 3.29 now prior result announcement!
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johnyap89 Veteran	05-Aug-2020 19:59        johnyap89 About Contact  Quote this Post!
x 0   x 0  Alert Admin	initially blacklisted this counter cos of the bb..but got to be flexible .. looks like got signs of accumulation and seems to be on verge of breaking out imo.. maybe bbs changed too? bought some today.
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