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Msport Elite	05-Jan-2018 09:35        Msport About Contact  Quote this Post! Style: Flexible
x 0   x 0  Alert Admin	Construction | PDF Building hope OVERWEIGHT - Maintained Author(s):Colin TAN +65 62108685, Siew Khee LIM   ■ We estimate S$9bn p.a. of public civil engineering contracts could be awarded in Singapore in 2018-2021F, leading to construction sector recovery. ■ North-South Corridor is a key project, in our view. ■ In the private sector, we are seeing a multiplier effect from the en bloc deals, which we estimate could add S$1bn in construction value in 2018F. ■ Signs of easing competitive pressure could indicate better profitability for construction firms ahead. Maintain sector Overweight. ■ Yongnam is our top pick in the sector. Other key players of sizeable market cap highlighted in this report are Wee Hur, Lum Chang, Pan-United and Koh Brothers.     Major public infrastructure projects to set the pace for growth The Building and Construction Authority (BCA) projects the value of public sector construction in Singapore to amount to between S$18bn and S$23bn p.a. in 2018-2021F, of which 50% is expected to comprise civil engineering projects. We estimate this translates into at least S$9bn worth of civil engineering contracts, exceeding the value awarded in 2017. Upcoming tenders in 2018F include the bulk of North-South Corridor (NSC) project (worth c.S$13bn), which would support public sector construction demand, in our view. Private sector construction demand could begin to strengthen In our view, a good portion of the demand would come from awarded en bloc sales, of which several projects could be launched this year, potentially yielding c.S$1bn in construction value. Furthermore, the government has said it aims to keep the total supply of private residential units for 1H18F at a similar level to the supply of units in 2H17. This could lead to growth in construction demand from the private residential space. Tender price index could rebound with higher demand The tender price index seems to have found a floor at 96.0-97.0 in 9M17, which we think indicates that competitive pressure for construction project bids is starting to abate. BCA revealed a slight improvement in overall business confidence for 2H17 among contractors and consultants, although there is still bearish sentiment on project profitability amid keen competition. What to expect beyond 2018F? We project future redevelopment of the Jurong Lake District could lead to over S$3.6bn worth of construction demand, based on comparison to the construction boom in 2007 fueled by developments in the Marina Bay area. Mega infrastructure projects in the pipeline include Jurong Regional Line, Cross Island Line and various developments for Changi Airport Terminal 5. We estimate about 1,800ha of land will be freed up for redevelopment post-relocation of existing port terminals and Paya Lebar Airbase in 2030F onwards. Who' s who on the value chain? Yongnam is our sector top pick in view of catalysts from major order wins for mega infrastructure projects in Singapore. In addition, we highlight five companies that are of sizeable market cap (> S$100m) with a similar track record. These are Wee Hur and Lum Chang (builders), Koh Brothers (specialist civil engineering company currently bidding for major infrastructure contracts) and Pan-United (concrete supplier).
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spider87 Member	21-Dec-2017 13:11        spider87 About Contact  Quote this Post!
x 0   x 0  Alert Admin	clever! any ideas what the big married deal was about? Was it simply a trap? TIA. machidrain      ( Date: 19-Dec-2017 16:41) Posted: loss making company, shorted at 0.325
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huatster Senior	19-Dec-2017 16:48        huatster About Contact  Quote this Post!
x 0   x 0  Alert Admin	Highly recommended by cimb. 50 coming
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machidrain Veteran	19-Dec-2017 16:41        machidrain About Contact  Quote this Post!
x 0   x 0  Alert Admin	loss making company, shorted at 0.325
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huatster Senior	19-Dec-2017 16:31        huatster About Contact  Quote this Post!
x 0   x 0  Alert Admin	Going from strength to strength
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sunview Veteran	19-Dec-2017 14:07        sunview About Contact  Quote this Post!
x 0   x 0  Alert Admin	Wow, high volume today, with one married deal of 10,000 shares at $0.305. Last done at $0.32. Any news ? Big contracts to be announced ?
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tipper Senior	14-Dec-2017 11:33        tipper About Contact  Quote this Post!
x 0   x 0  Alert Admin	Wah, this one is really moving vert slowly
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harlow Member	13-Dec-2017 22:28        harlow About Contact  Quote this Post!
x 0   x 0  Alert Admin	Crawling up quietly these two days.
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huatster Senior	13-Dec-2017 11:35        huatster About Contact  Quote this Post!
x 0   x 0  Alert Admin	More projects than usual will propel this counter to greater heights
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Andy80 Senior	12-Dec-2017 13:12        Andy80 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Yongnam does not do buidling.    lorann      ( Date: 12-Dec-2017 10:43) Posted: Next year will be a construction year with the many successful en bloc happening this year
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lorann Senior	12-Dec-2017 10:43        lorann About Contact  Quote this Post!
x 0   x 0  Alert Admin	Next year will be a construction year with the many successful en bloc happening this year
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lorann Senior	08-Nov-2017 09:12        lorann About Contact  Quote this Post!
x 0   x 0  Alert Admin	Still a laggard but waiting for its next move.
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huatster Senior	01-Nov-2017 14:17        huatster About Contact  Quote this Post!
x 0   x 0  Alert Admin	Breakdown now, time to pick up some
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Morello Veteran	27-Oct-2017 12:14        Morello About Contact  Quote this Post! Style: Combined   Mood: Yells: "In it for the long haul"
x 0   x 0  Alert Admin	most hardworking poster in SJ SgYuan      ( Date: 26-Oct-2017 14:40) Posted: EW1:205-w1:240-w2:225-w3:280-w4:250-w5:ext ew:310 abc 255-295-260 abc 285-265-280 end at 270 EW main: 205-w1:ext ew EW1:310-w2:255-w3:355?-w4?-w5? abc Simplify: By theory w3 projection is 161.8%, w3:355? (tgt=255+(310-205)*161.8%=425)-w4-w5 abc But i don' t think it can one shot move to 425, so w3 should be a ext EW If w3 is a ext EW, and  - w1 end at 355?, w2 drop typical 61.8%, w3 projection is 161.8%, w4 drop 38.2% w3:ext  EW  270-w1:355?-w2:tgt=drop 61.8%=300-w3:tgt 435-w4:tgt=380-w5:tgt=460 abc near w4 380 Simplied, you will see the waves below: w3:ext  EW 270-w1:355-w2:300-w3:435-w4:380-w5:460 abc near 380 Now should be correcting to w2 already ... So final tgt range is 425 to 460. But you need to ride the waves. SgYuan      ( Date: 26-Oct-2017 08:26) Posted: Px 30.5 Great power up. Elliott wave: extended wave 3. W3 ext EW start 270-w1:315? Accumulate 30.5 and below.
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lorann Senior	27-Oct-2017 10:37        lorann About Contact  Quote this Post!
x 0   x 0  Alert Admin	What' s the outcome of their Myammar' s big projects? Going ahead?
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huatster Senior	26-Oct-2017 17:20        huatster About Contact  Quote this Post!
x 0   x 0  Alert Admin	Wow 53? Still a long way to go. Sell others to buy this now SmallSmall      ( Date: 26-Oct-2017 12:49) Posted: CIMB is recommending to " add" Yongnam Holdings upon initial coverage of the steel supplier, with a target price of 53 Singapore cents.
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SgYuan Supreme	26-Oct-2017 14:40        SgYuan About Contact  Quote this Post!
x 0   x 0  Alert Admin	EW1:205-w1:240-w2:225-w3:280-w4:250-w5:ext ew:310 abc 255-295-260 abc 285-265-280 end at 270 EW main: 205-w1:ext ew EW1:310-w2:255-w3:355?-w4?-w5? abc Simplify: By theory w3 projection is 161.8%, w3:355? (tgt=255+(310-205)*161.8%=425)-w4-w5 abc But i don' t think it can one shot move to 425, so w3 should be a ext EW If w3 is a ext EW, and  - w1 end at 355?, w2 drop typical 61.8%, w3 projection is 161.8%, w4 drop 38.2% w3:ext  EW  270-w1:355?-w2:tgt=drop 61.8%=300-w3:tgt 435-w4:tgt=380-w5:tgt=460 abc near w4 380 Simplied, you will see the waves below: w3:ext  EW 270-w1:355-w2:300-w3:435-w4:380-w5:460 abc near 380 Now should be correcting to w2 already ... So final tgt range is 425 to 460. But you need to ride the waves. SgYuan      ( Date: 26-Oct-2017 08:26) Posted: Px 30.5 Great power up. Elliott wave: extended wave 3. W3 ext EW start 270-w1:315? Accumulate 30.5 and below.
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alto26 Senior	26-Oct-2017 13:21        alto26 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Ronald k make before up..now still have meat.
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alto26 Senior	26-Oct-2017 13:20        alto26 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Ronald k make before up..now still have meat.
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SmallSmall Supreme	26-Oct-2017 12:49        SmallSmall About Contact  Quote this Post!
x 1   x 0  Alert Admin	CIMB is recommending to " add" Yongnam Holdings upon initial coverage of the steel supplier, with a target price of 53 Singapore cents.
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