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shk363
Elite
16-Nov-2020 16:50     
 
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 Alert Admin 		strong support at 13
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gravity8888
Supreme
16-Nov-2020 16:29     
 
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 Alert Admin 		No eyes see.. Below 130 liao
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WBdisciple
Elite
16-Nov-2020 15:22     
 
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 Alert Admin 		they are in a niche market and industry, hence if such things happen and their reputation is affected, other clients may not want to be associated with them. 

That' s my take...pls do own DD.
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FrancisLim
Elite
16-Nov-2020 15:14     
 
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 Alert Admin 		Co not conducting share buy back?  On 9th Oct, it bought back shares.
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machidrain
Veteran
16-Nov-2020 14:15     
 
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 Alert Admin 		buy buy buy, huge discount.
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chiachiawee
Elite
16-Nov-2020 14:07     
 
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 Alert Admin 		More than one week ago saw analyst started covering this stock and give a good TP..Went to check out the financial looks pretty good to substantiate their call too..But my experience told me always wait a little while more and took analyst report with a huge pinch of salt..End up..Directors suspected for corruption case..

Current price is 70% down from a week ago..And news popped up not too far from the analyst calls..So coincidence? Hope those bought able to cut loss now.Peace.
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easywin
Supreme
16-Nov-2020 13:15     
 
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 Alert Admin 		Many take the opportunity to short sell for sure gain with no risk 
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wolverine23
Supreme
16-Nov-2020 12:11     
 
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Yells: "Medical Bull 2020 !!!!!!!! = Internet Bull 2000 !!!!!!!!"
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 Alert Admin 		can go 3 cents?
 

johnng      ( Date: 16-Nov-2020 12:07) Posted:

RUBBISH ANALYST...wah run-road le...JIALAK STARBURST gone BURST

SmallSmall      ( Date: 06-Nov-2020 11:33) Posted:

Another buy call from Lim  & Tan. Both also initiate coverage.
We initiate coverage on Starburst Holdings with a BUY recommendation and a TP of  S$0.60  based on 10.6x FY21F P/E, pegged to a 30% discount to the FY21F peer average P/E of 15.1x.
 

Starburst 

Share price: 
41.5 c

Target: 
60 c

This represents a potential upside of 46.3%.

Despite COVID-19&rsquo s damage to the global economy, we like that Starburst remained defensive and even turned profitable in 1H20 with a NPAT of S$2.1mln.

We find its FY21F valuations undemanding relative to peers.

As we expect Starburst to be recognizing the bulk of their S$60mln order book in 2H20 and FY21, we anticipate 2H20 earnings to surge above S$5mln before accelerating to S$17.2mln for FY21, translating to a FY21F P/E of 7.3x vs its peer group average of 15.1x.



JonathanYap Starburst920MD of Starburst, Jonathan Yap.  Photo: Company
 
" As management delivers on its contract wins while securing additional ones, along with possible higher dividend payments, we believe Starburst could trade up to 10.6x  FY21F P/E at  S$0.60  a share."

-- Lim & Tan Securities 


Upcoming S$60mln order book to be fulfilled. Since late 2019, Starburst managed to clinch 3 key contracts which brought its orderbook up to c. S$60mln.

Projects typically run on a 2-year timeframe and we expect the bulk of this revenue to be recognized in FY21.

Management has indicated that they are negotiating for more projects, which could likely bring their orderbook up to S$80-100mln by the end of FY20.

Favorable growth in military expenditure. Military expenditure has been on a consistent rise in both South-East Asia and the Middle East over the last two decades due to neighbouring threats and the growth in tension.

SEA&rsquo s military spending increased at  a CAGR of 3.5% over the past decade while ME&rsquo s military spending grew at a CAGR of 6.1% from 2004 to 2014.

Larger defence budgets will increase the possibility of the construction of training facilities and mock-ups aside from only purchasing and upgrading weaponry.

The upcoming S$900mln SAFTI City (SG), Shoalwater Bay Training Area (AU) and Greenvale Training Area (AU) should also give Starburst a good chance at securing more training range and mock-up contracts.

High barriers to entry with strong foothold within the defence sector. Defence contractors require long track records to be awarded projects since safety is of utmost importance.

Long working relationships are also essential since not all projects are based on open tender, especially in the Middle East.

This makes it difficult for new entrants to penetrate the industry along with the large CAPEX investment and technical knowledge required to cater to customers&rsquo specifications.

With more than 20 years of engineering experience within the defence industry, Starburst is well positioned with a strong foothold as compared to any new entrants.

Potential increase in recurring income base. Since Starburst manages the designing, fabricating and installation of training facilities, they tend to be awarded the maintenance contracts for them as well.

This is because commercial maintenance contractors lack the capabilities and understanding of the training facilities to adequately maintain them without compromising on safety.

Maintenance contracts have also been getting longer.  Instead of the usual 3+3+3 / 5+5+5 years, some are stretching to 10+10 years.

This will ensure a stable stream of recurring income for Starburst in the long run.
 
StarburstCEOJonathanYap 920 01Starburst MD Jonathan YapFavouring shareholders with dividend payouts.  Despite being loss-making post IPO, we like that Starburst still focused on shareholder welfare by paying out dividends (0.25S cents per share) to shareholders.

Moving forward, having an increase in maintenance contracts for recurring income will produce more consistent cash flows for Starburst.

Along with the new award in contracts, this should also allow for an increase in dividend payout for shareholders.


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johnng
Supreme
16-Nov-2020 12:07     
 
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 Alert Admin 		RUBBISH ANALYST...wah run-road le...JIALAK STARBURST gone BURST

SmallSmall      ( Date: 06-Nov-2020 11:33) Posted:

Another buy call from Lim  & Tan. Both also initiate coverage.
We initiate coverage on Starburst Holdings with a BUY recommendation and a TP of  S$0.60  based on 10.6x FY21F P/E, pegged to a 30% discount to the FY21F peer average P/E of 15.1x.
 

Starburst 

Share price: 
41.5 c

Target: 
60 c

This represents a potential upside of 46.3%.

Despite COVID-19&rsquo s damage to the global economy, we like that Starburst remained defensive and even turned profitable in 1H20 with a NPAT of S$2.1mln.

We find its FY21F valuations undemanding relative to peers.

As we expect Starburst to be recognizing the bulk of their S$60mln order book in 2H20 and FY21, we anticipate 2H20 earnings to surge above S$5mln before accelerating to S$17.2mln for FY21, translating to a FY21F P/E of 7.3x vs its peer group average of 15.1x.



JonathanYap Starburst920MD of Starburst, Jonathan Yap.  Photo: Company
 
" As management delivers on its contract wins while securing additional ones, along with possible higher dividend payments, we believe Starburst could trade up to 10.6x  FY21F P/E at  S$0.60  a share."

-- Lim & Tan Securities 


Upcoming S$60mln order book to be fulfilled. Since late 2019, Starburst managed to clinch 3 key contracts which brought its orderbook up to c. S$60mln.

Projects typically run on a 2-year timeframe and we expect the bulk of this revenue to be recognized in FY21.

Management has indicated that they are negotiating for more projects, which could likely bring their orderbook up to S$80-100mln by the end of FY20.

Favorable growth in military expenditure. Military expenditure has been on a consistent rise in both South-East Asia and the Middle East over the last two decades due to neighbouring threats and the growth in tension.

SEA&rsquo s military spending increased at  a CAGR of 3.5% over the past decade while ME&rsquo s military spending grew at a CAGR of 6.1% from 2004 to 2014.

Larger defence budgets will increase the possibility of the construction of training facilities and mock-ups aside from only purchasing and upgrading weaponry.

The upcoming S$900mln SAFTI City (SG), Shoalwater Bay Training Area (AU) and Greenvale Training Area (AU) should also give Starburst a good chance at securing more training range and mock-up contracts.

High barriers to entry with strong foothold within the defence sector. Defence contractors require long track records to be awarded projects since safety is of utmost importance.

Long working relationships are also essential since not all projects are based on open tender, especially in the Middle East.

This makes it difficult for new entrants to penetrate the industry along with the large CAPEX investment and technical knowledge required to cater to customers&rsquo specifications.

With more than 20 years of engineering experience within the defence industry, Starburst is well positioned with a strong foothold as compared to any new entrants.

Potential increase in recurring income base. Since Starburst manages the designing, fabricating and installation of training facilities, they tend to be awarded the maintenance contracts for them as well.

This is because commercial maintenance contractors lack the capabilities and understanding of the training facilities to adequately maintain them without compromising on safety.

Maintenance contracts have also been getting longer.  Instead of the usual 3+3+3 / 5+5+5 years, some are stretching to 10+10 years.

This will ensure a stable stream of recurring income for Starburst in the long run.
 
StarburstCEOJonathanYap 920 01Starburst MD Jonathan YapFavouring shareholders with dividend payouts.  Despite being loss-making post IPO, we like that Starburst still focused on shareholder welfare by paying out dividends (0.25S cents per share) to shareholders.

Moving forward, having an increase in maintenance contracts for recurring income will produce more consistent cash flows for Starburst.

Along with the new award in contracts, this should also allow for an increase in dividend payout for shareholders.

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gravity8888
Supreme
16-Nov-2020 12:05     
 
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 Alert Admin 		Seems like all selling
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WBdisciple
Elite
16-Nov-2020 09:51     
 
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 Alert Admin 		IN AUGUST 2020
Starburst' s chairman and MD sell shares to new investors at 39 cents each
https://www.theedgesingapore.com/news/company-news/starbursts-chairman-and-md-sell-shares-new-investors-39-cents-each

Two of Starburst Holding&rsquo s controlling shareholders, executive chairman Edward Lim Chin Wah and managing director Yap Tin Foo, have each sold 3.2 million shares at 39 cents each to a group of investors. 

The investors, which include ICH Capital and Eternal Glade Investment, bought from Lim and Yap at a discount of 7.9% off Starburst&rsquo s one-day volume-weighted average price of 42.34 cents.

ICH Capital is a consultancy firm with core activities in business advisory and direct investments while Eternal Glade is a discretionary fund focusing on equity investment in Asia (excluding Japan) managed by ICHAM.

Prior to the sale, Lim and Yap held 36.98% and 34.95% respectively of the shares.

Year to date, Starburst, which designs and builds shooting ranges, has won some $59.1 million in new contracts.

Lim says the sale marks the first step to diversify and institutionalise Starburst&rsquo s shareholder base. &ldquo It is also a strong testament to our ability to innovate and help our customers achieve mission readiness in one of the most unpredictable threat landscapes in modern history,&rdquo he added.

Edison Chen, founder of Eternal Glade and fund manager of ICHAM, describes Starburst as a &ldquo very promising&rdquo business with patented offerings and a niche value proposition. 
&ldquo Tensions in the current geopolitical landscape will likely bode well for the business while the growing value of its secured contracts marks an inflection point,&rdquo he said, adding that he is confident that given time, this could turn into a " multi-bagger investment" .

In a separate announcement on Aug 12, Starburst reported earnings of $2.1 million for 1HFY20 ended June 30, a turnaround from losses of $2.1 million incurred in the same period last year.

Revenue in the same period was $9.7 million, up 176.3% y-o-y, as it booked revenue from two projects, one in Southeast Asia and one in the Middle East.
The company, owing to the nature of its industry, typically does not name who its customers are.

Starburst is upbeat that it is riding on a positive momentum, due to higher defense spending and the threat of terrorism and extremism.

&ldquo We have further participated in tenders in both Southeast Asia and the Middle East in 2020 and we anticipate positive results from these bids,&rdquo said Yap, the managing director.
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winter3947
Member
16-Nov-2020 09:46     
 
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 Alert Admin 		Reached climax already must ejac bro

iinvestor      ( Date: 16-Nov-2020 09:43) Posted:

This star really burst today.........angry
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gravity8888
Supreme
16-Nov-2020 09:44     
 
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 Alert Admin 		Ya... Just wait to be halt so that price won't go down liao
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iinvestor
Veteran
16-Nov-2020 09:43     
 
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 Alert Admin 		This star really burst today.........angry
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gravity8888
Supreme
16-Nov-2020 09:29     
 
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 Alert Admin 		You are right dloh.. Think all future contract.. Also will not do with the company sia.. Is as good as bye bye
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winter3947
Member
16-Nov-2020 09:26     
 
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 Alert Admin 		That' s the book value, but I wouldn' t even consider even it' s at that level. What' s the point when it' s suspended?

shk363      ( Date: 16-Nov-2020 09:14) Posted:

only consider at 10
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dloh1368
Member
16-Nov-2020 09:24     
 
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 Alert Admin 		Bro, out on bail and passport surrendered....which part tells you they are not arrested?

read between the lines...

gravity8888      ( Date: 16-Nov-2020 09:02) Posted:

Ask for interview le.. Where got arrested?

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gravity8888
Supreme
16-Nov-2020 09:19     
 
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 Alert Admin 		Think better siam.. Dun later halt
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shk363
Elite
16-Nov-2020 09:14     
 
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 Alert Admin 		only consider at 10
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Joelton
Supreme
16-Nov-2020 09:09     
 
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 Alert Admin
Starburst chairman, MD probed by CPIB
 
Starburst Holding&rsquo s executive chairman Edward Lim, and managing director Yap Tin Foo have been interviewed by the Corrupt Practices Investigation Bureau.
According to the company in an announcement on Sunday, Nov 15, they were interviewed last Thursday, Nov 12 in connection with Starburst Engineering, a subsidiary company.
 
Between Nov 12&rsquo s open and close of trading on Nov 13, Starburst&rsquo s share price dropped by two cents to 38 cents.
 
Besides Lim and Yap, Wu Guangyi, the company&rsquo s chief financial officer and Ng Eng Long Josiah Lawrence, its senior project manager, were interviewed by CPIB as well.
 
&ldquo The board wishes to inform that the aforementioned matter is not related to the current projects of the group, and accordingly does not affect the business and operations of the Group,&rdquo said the company in its Nov 15 announcement.
 
According to company, Lim, Yap and Ng are currently on bail. Yap&rsquo s passport has been retained and Ng&rsquo s passport has been requested to be provided on Nov 16. 
According to the company, its board, with Lim and Yap recusing themselves, is of the view that they should continue with their respective responsibilities and duties in the operation of the group' s businesses to ensure business continuity and the board will reassess its position where appropriate in due course. 
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