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Thanks for insight. Yes an insider sold but I think there is no cause for alarm as he might be taking some profits for personal reasons. Will ignore all the current selling down. Hold tight for this stock will definitely rebound fuelled by growth and yield.
Lobster ( Date: 21-Jun-2021 16:59) Posted:
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It has been dropping since one of EeChao ' s right hand men has sold some shares.
I asked EeChao if he was pushing it up for his man to exit, as a form of reward. He just stared at me, and just said August event is just two months away.
I asked EeChao if he was pushing it up for his man to exit, as a form of reward. He just stared at me, and just said August event is just two months away.
crystalbee ( Date: 21-Jun-2021 13:23) Posted:
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there is no reasons for any actions, just Mr Market decides up or down.
crystalbee ( Date: 21-Jun-2021 13:23) Posted:
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What happened? Has been dropping for more than 1 week. Should be one of the better stocks to have, why the selling?
UOB Kay Hian positive on Netlink' s ability to generate sustainable dividend yield
FIBRE network infrastructure provider Netlink NBN Trust could be a " high yielding, safe haven stock" generating about 5.3 per cent per annum in dividends from FY2022 to FY2024, UOB Kay Hian suggested.
This comes as the trust looks to take advantage of the increase in fibre take-up locally as well as investment opportunities in South-east Asia.
In a research note released on Friday, UOB Kay Hian noted that the trust will be able to increase fibre take-up by working with the Infocomm Media Development Authority' s Home Access programme to connect low-income households. Demand for fibre connections will also rise as Singapore typically adds 20,000 to 25,000 new homes a year.
Additionally, the trust' s number of non-building access points (NBAP) connections grew by 18 per cent in FY2021 to 1,996 connections. The ongoing Smart Nation initiatives are expected to further drive demand for such connections, the research house said.
On top of this, the research house expects the trust to benefit from Singapore' s 5G network roll-out as joint 5G nationwide licensees StarHub and M1 and localised licensee TPG work closely with Netlink to deploy their 5G infrastructure.
" Besides, as the government continues to encourage higher productivity through digitalisation, Netlink aims to continue improving network capacity, flexibility and resiliency to support the government' s 5G rollout targets. In all, we expect residential, nonresidential and NBAP connections to grow by 2 per cent, 3 per cent and 20 per cent respectively in FY2022," the research house said.
Within South-east Asia, the trust is also evaluating new investments to drive future earnings growth. The research house said this could come in the form of telecommunication assets that can generate stable cash flows, such as fibre networks, telecoms towers, in-building systems and distribution antennas.
Furthermore, the trust is also considering new investments in the region to drive future earnings growth. As South-east Asia' s telecoms sector is currently going through a 5G technology refresh, the region' s telecoms operators are studying ways to monetise existing passive assets, which the trust could assess as long as earnings and cash flow are sustainable.
The research house maintains " buy" on the counter, with a target price of S$1.08, in view of its current unit price weakness.
" We expect the stock to further outperform as investors seek shelter in high dividend yielding stocks amid external volatility," the research house said.
when will be the next result out??
Lobster ( Date: 05-Jun-2021 12:17) Posted:
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Huat ah. The way my good friend, EeChao' s personal aide is espousing, one thing is absolutely clear.
We' r in for a very good August surprise. NAV price may be an under estimate.
We' r in for a very good August surprise. NAV price may be an under estimate.
Springs of Joy: the second indicators of growth from our neighbour Malaysia
< Repost with amendments to table and content>
Sun Tzu once famously said: Know thy self, know thy enemy. A thousand battles, a thousand victories.
We have earlier analyzed the profit performance of UOBKHs Thai subsidiary. In this analysis, we will look at the profit potentials of UOBKHs Malaysian operations, which accounted for about 11.4% of FY2020 profit before tax.
Know Thy Competitor: Hong Leong Capital Berhad & ndash Strong momentum in 1Q21 earnings
One similar firm to UOBKH would be Hong Leong Capital Berhad (HLCB), which provides the following services in the Malaysian market:
Source: Annual report
Based on HLCBs annual report, two key findings are:
With the above insights, one can be reasonably certain that this firm (which derives a large part of its revenue and PBT from IB and Stockbroking, which is what UOBKH does) is a close competitor of UOBKH. As such, one would expect the performance of UOBKHs Malaysian operations to mirror that of HLCB.
Strong 1Q 21 growth driven by IB and stockbroking
Source: Financial reports
In 1Q21, overall PBT of the firm grew by 345% compared to 1Q20. This was largely led by a surge in Investment Banking and Stockbroking activities. In the analysis, HLCB indicated the following:
Investment banking and stockbroking - higher PBT by RM24.0 million (> 100.0%) attributed to higher profit contribution from both its stockbroking division and investment banking division in current quarter.
Interested readers may access the article via the link below:
https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3160571
What is in store for UOBKH?
With the strong growth prospects of UOBKHs competitor HLCB, bright prospects lay ahead for UOBKHs Malaysian operations. Similar to its peer too, in FY2020, while UOBKH reported a more than 2 times increase in revenue from Malaysia, PBT from its Malaysian operations surged by 4 times, which indicates that revenue growth typically lags profit growth for stockbroking firms.
Conclusion
For those that have yet to manage to enter, now might be an opportune time. At $1.66, prospective yields of close to 10% is indeed something that not many firms can offer.
< Repost with amendments to table and content>
Sun Tzu once famously said: Know thy self, know thy enemy. A thousand battles, a thousand victories.
We have earlier analyzed the profit performance of UOBKHs Thai subsidiary. In this analysis, we will look at the profit potentials of UOBKHs Malaysian operations, which accounted for about 11.4% of FY2020 profit before tax.
Know Thy Competitor: Hong Leong Capital Berhad & ndash Strong momentum in 1Q21 earnings
One similar firm to UOBKH would be Hong Leong Capital Berhad (HLCB), which provides the following services in the Malaysian market:
- Investment banking
- Stockbroking
- Fund management and unit trust
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Based on HLCBs annual report, two key findings are:
- The Investment Banking and Stockbroking division contributes about 70% in terms of revenue and PBT for FY2020.
- For the stockbroking division, while revenue increased about 40%, PBT increased by more than 100%, which seem to imply that the profit growth is usually higher than revenue growth for this division.
With the above insights, one can be reasonably certain that this firm (which derives a large part of its revenue and PBT from IB and Stockbroking, which is what UOBKH does) is a close competitor of UOBKH. As such, one would expect the performance of UOBKHs Malaysian operations to mirror that of HLCB.
Strong 1Q 21 growth driven by IB and stockbroking
|
In 1Q21, overall PBT of the firm grew by 345% compared to 1Q20. This was largely led by a surge in Investment Banking and Stockbroking activities. In the analysis, HLCB indicated the following:
Investment banking and stockbroking - higher PBT by RM24.0 million (> 100.0%) attributed to higher profit contribution from both its stockbroking division and investment banking division in current quarter.
Interested readers may access the article via the link below:
https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3160571
What is in store for UOBKH?
With the strong growth prospects of UOBKHs competitor HLCB, bright prospects lay ahead for UOBKHs Malaysian operations. Similar to its peer too, in FY2020, while UOBKH reported a more than 2 times increase in revenue from Malaysia, PBT from its Malaysian operations surged by 4 times, which indicates that revenue growth typically lags profit growth for stockbroking firms.
Conclusion
For those that have yet to manage to enter, now might be an opportune time. At $1.66, prospective yields of close to 10% is indeed something that not many firms can offer.
Oh I was actually referring to August, not July. 13 in August is Friday the 13.
today closed unchanged. Whole day, Someone tried to push it down, but as always, at the close someone will push it up
today closed unchanged. Whole day, Someone tried to push it down, but as always, at the close someone will push it up
wehuattogether88 ( Date: 04-Jun-2021 13:32) Posted:
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when is the next quarter results? 13 July?
Lobster ( Date: 03-Jun-2021 11:45) Posted:
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One thing I like about here, it' s so relaxing. Quiet and enjoyin* the sight. No barking dogs even.
now 1.66 after touching 1.67. Next month13 is an important day to note. Maybe shift to 12.
Because 13 is a Friday. EeChao is quite a pantang guy.
now 1.66 after touching 1.67. Next month13 is an important day to note. Maybe shift to 12.
Because 13 is a Friday. EeChao is quite a pantang guy.
ANNOUNCEMENT IN RELATION TO THE VOLUNTARY UNCONDITIONAL CASH OFFER BY UOB KAY HIAN PRIVATE LIMITED FOR AND ON BEHALF OF TSI METALS HK LIMITED. Another project undertaken by UOBKH.
yeap, buy something that is much cheaper and still below NAV
Uncovering_Value ( Date: 31-May-2021 08:36) Posted:
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Comparison between iFAST and UOBKH business models
A glance at the annual reports of iFast and UOBKH would reveal the following key features of the business models of the two:
For UOBKH, it can be thought of as a pure-play stockbroking firm. Within this firm, there are various divisions working together to support this function. For instance, it has a corporate advisory business (which deals with investment banking and underwriting etc, think about the players or activities which make an IPO happen) that in turn complements the stock trading division (internet and margin trading). Pause for a moment and consider how often have you seen a UOBKH analyst recommending a buy hold or sell call on a stock. This is the research function which helps to generate interest in stocks and lead to higher transactions in that stock.
In contrast, iFast primarily functions as an internet-based investment product distribution platform. Within this platform, they have business-to-business (B2B) and business-to-consumer (B2C) services. Not too long ago, for one to purchase an investment product such as unit trusts, they typically had to go through their financial advisor. Now, this has been brought online with a lower cost.
In the strictest sense, the bread and butter of UOBKH is stockbroking services while that of iFast is a platform for investment product distribution (which happens to include stock broking activities too).
Which is FASTer?
One way to further analyze the growth of iFast is to look at the revenue contribution of the various business segments. The revenue breakdown of the firm is reproduced below for reference:
Table 1: iFAST net revenue breakdown by key business segments
A quick glance at the revenue breakdown would show that the bulk (about 70%) of iFast revenue came from recurring net revenue in FY2020. This segment comprises the trailer fees, platform fees, wrap fees and interest income arising from clients AUA. Discerning readers would immediately recognize that while having a lower growth rate, this segment is also a much more stable source of income as AUA typically doesnt fluctuate much. In fact, as the volume of AUA grows, this segment would exhibit a similar growth trajectory as well.
However, the real star performer has been the growth of the non-recurring net revenue segment, which grew by a spectacular 108% in FY2020 year-on-year. This segment consists of once-off fees such as transaction fees and commission income. In fact, this surge has powered on into 1Q21, with non-recurring net revenue showing a growth of 115%. The firm has attributed this partly to the significant growth in business in ETFs and stocks, which is likely due to increased trading activity arising from the pandemic.
A pure-play stockbroker or a platform with some stockbroking?
Table 2: Contribution by key markets, FY2020
Note: for iFAST, net revenue contribution by markets was used as the profit contribution for China was negative
The above table (Table 2) shows the contribution by key markets for iFAST and UOBKH for the financial year ending FY2020. Evidently, the contribution by markets is largely similar, with the bulk derived from Singapore. With iFAST showing strong QoQ growth in 1Q21 for its non-recurring revenue segment (which entails commission and transaction fees from stockbroking), it is anyones guess how would UOBKH fare in its upcoming results for 1H2021.
Conclusion
Looking at the above, and in view of the recent curbs arising from the new virus strains (which would likely generate higher trading volumes), the choice for me is clear.
Table 3: Price-to-Earnings ratios of UOBKH and iFAST
At current market prices, UOBKH is trading at 8.5 times FY2020 earnings while iFAST trades at 113.2 times. Even if we were to assume that both businesses are the same, would you rather pay $8.50 to be entitled to a dollar of earnings in a company, or to pay $113 for the same dollar of earnings in a somewhat similar company?
Happy investing and stay safe, cheers!
Uncovering_Value
A glance at the annual reports of iFast and UOBKH would reveal the following key features of the business models of the two:
| Type | UOBKH | iFAST |
| Services offered/ business divisions |
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Recurring revenue related (c. 64% of FY2020 revenue):
Non-recurring revenue (c. 36% of FY2020 revenue):
|
| Markets present (exclude & ldquo Others& rdquo for UOBKH) |
|
|
For UOBKH, it can be thought of as a pure-play stockbroking firm. Within this firm, there are various divisions working together to support this function. For instance, it has a corporate advisory business (which deals with investment banking and underwriting etc, think about the players or activities which make an IPO happen) that in turn complements the stock trading division (internet and margin trading). Pause for a moment and consider how often have you seen a UOBKH analyst recommending a buy hold or sell call on a stock. This is the research function which helps to generate interest in stocks and lead to higher transactions in that stock.
In contrast, iFast primarily functions as an internet-based investment product distribution platform. Within this platform, they have business-to-business (B2B) and business-to-consumer (B2C) services. Not too long ago, for one to purchase an investment product such as unit trusts, they typically had to go through their financial advisor. Now, this has been brought online with a lower cost.
In the strictest sense, the bread and butter of UOBKH is stockbroking services while that of iFast is a platform for investment product distribution (which happens to include stock broking activities too).
Which is FASTer?
One way to further analyze the growth of iFast is to look at the revenue contribution of the various business segments. The revenue breakdown of the firm is reproduced below for reference:
Table 1: iFAST net revenue breakdown by key business segments
|
A quick glance at the revenue breakdown would show that the bulk (about 70%) of iFast revenue came from recurring net revenue in FY2020. This segment comprises the trailer fees, platform fees, wrap fees and interest income arising from clients AUA. Discerning readers would immediately recognize that while having a lower growth rate, this segment is also a much more stable source of income as AUA typically doesnt fluctuate much. In fact, as the volume of AUA grows, this segment would exhibit a similar growth trajectory as well.
However, the real star performer has been the growth of the non-recurring net revenue segment, which grew by a spectacular 108% in FY2020 year-on-year. This segment consists of once-off fees such as transaction fees and commission income. In fact, this surge has powered on into 1Q21, with non-recurring net revenue showing a growth of 115%. The firm has attributed this partly to the significant growth in business in ETFs and stocks, which is likely due to increased trading activity arising from the pandemic.
A pure-play stockbroker or a platform with some stockbroking?
Table 2: Contribution by key markets, FY2020
|
The above table (Table 2) shows the contribution by key markets for iFAST and UOBKH for the financial year ending FY2020. Evidently, the contribution by markets is largely similar, with the bulk derived from Singapore. With iFAST showing strong QoQ growth in 1Q21 for its non-recurring revenue segment (which entails commission and transaction fees from stockbroking), it is anyones guess how would UOBKH fare in its upcoming results for 1H2021.
Conclusion
Looking at the above, and in view of the recent curbs arising from the new virus strains (which would likely generate higher trading volumes), the choice for me is clear.
Table 3: Price-to-Earnings ratios of UOBKH and iFAST
|
At current market prices, UOBKH is trading at 8.5 times FY2020 earnings while iFAST trades at 113.2 times. Even if we were to assume that both businesses are the same, would you rather pay $8.50 to be entitled to a dollar of earnings in a company, or to pay $113 for the same dollar of earnings in a somewhat similar company?
Happy investing and stay safe, cheers!
Uncovering_Value
UOBKH similar to IFast? If you want to compare UOBKH to iFast phenomenal capital gains, I can only say I wish, I wish! But fundamentals, both are world apart. IFast' s PE is 100x, price to BV 20x. If UOB, presently at 8 PE can double to industry PE of 16 or reach 2x of its NAV, I will be over the moon already.... yield wise it' s a complete mismatch, and if are talking about cash position, ifast has less than 40 mil. UOB, in spite of paying half its profits yearly , still has something like half a billion in its kitty.
the rest I leave it to the Guru to enlighten further. I am no technical man. I only provide views from the other side of the world. And right now, my good friend EeChao, seems to have quite a following in the black market.
last week was a strong $1.65, very very soon reaching pre-xdividend price. From day one I been saying it will reach nav price. That has not changed, circuit breaker or whatever.
the rest I leave it to the Guru to enlighten further. I am no technical man. I only provide views from the other side of the world. And right now, my good friend EeChao, seems to have quite a following in the black market.
last week was a strong $1.65, very very soon reaching pre-xdividend price. From day one I been saying it will reach nav price. That has not changed, circuit breaker or whatever.
Yes, to me, both of them offer me the same service. Whatever I need from I-Fast, I can get from UOBKH as well.
Uncovering_Value ( Date: 30-May-2021 17:26) Posted:
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Hi Cherintc, you mean the difference(s) between UOBKH and I-Fast?
Regards,
Uncovering_Value
Regards,
Uncovering_Value
cherintc ( Date: 30-May-2021 16:38) Posted:
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Is this guy any much different from what I-Fast is offering?
The more I read, the more I m convinced you are either personal secretary or aide to my good friend EeChao. Everything you revealed is almost like what he hinted. To the prospect of good results to the possibility of an interim to it being a hidden golden goose, to its unnoticed spectacular growth, to it not being just a broking house but so many avenues of possibilities , it is something like treasure trove that is there but that is not seen when people just walked by, a breath of fresh air in an contaminated pandemic environment. If you have not gotten when it was below a dollar, you can only now wish it is. Vested since the 70s days.
waiting for it to hit nav price and beyond!
pdyohwadfmb
waiting for it to hit nav price and beyond!
pdyohwadfmb
Springs of Joy: the first indicators of growth from the land of smiles
While UOB Kay Hian (UOBKH) is exempted from quarterly reporting, one can nonetheless obtain an indication of the growth they should be expecting from various other sources. One such example of this would be the quarterly report issued by its Thai subsidiary &ndash UOB Kay Hian Securities (Thailand) Public Company Limited.
UOBKH (Thailand) issued its financial results for the quarter ended 31 Mar 2021 on 12 May 2021. The executive summary can be accessed via the link below:
https://www.set.or.th/set/pdfnews.do?newsId=16207755619730& sequence=2021054905
Strong growth in bottom line of 50%
Compared to the first quarter in 2020, total revenues registered a healthy growth of 24% to Baht 429 million (or S$18.2 mil). More importantly, revenue grew at a lower clip of 15%, arising from increased employee benefit expenses and fee and services expenses. The lower growth in expenses illustrates managements efforts in containing costs.
Consequently, net profits of UOBKH (Thailand) increased by about 50% quarter-on-quarter to Baht 100 mil.
Positive momentum for Thai subsidiary likely to be carried into 2Q21
With the recent surge in coronavirus cases detected in Thailand, and the discovery of the new mutant B1617 strain on May 10, the nationwide state of emergency in Thailand has been extended for another two months till the end of July 2021. The nationwide state of emergency has been in place since Mar 2020. More information can be found in the Straits Times article below:
https://www.straitstimes.com/asia/se-asia/thailand-extends-state-of-emergency-as-covid-cases-deaths-soar
With restrictions in place, people are likely to allocate more time to stock trading, which has been the reason behind UOBKHs spectacular growth for 2020. This likely implies that 2Q21 quarter-on-quarter growth is likely to be similar (50%), or even stronger, than the QoQ growth in 1Q21.
Impact on UOBKH
The segmental profits of UOBKHs Thai subsidiary showed a 987% year-on-year growth in 2021 to reach $13.3 mil, contributing about 7.2% to total profit before tax of parent UOBKH. While the growth might seem exceptional, one should note that the growth came on the back of a smaller base in 2020 (c. $1.3 mil).
Nonetheless, the greater significance behind the 1Q21 performance of UOBKH (Thailand) is the strength of UOBKHs brand name and reputation in the Thai market as well as its strong regional network.
Make hay while the sun shines
As the saying goes, make hay while the sun shines. Opportunities do not come by often. When surfaced with one, an investor would do well to grab and hold on to it.
Happy investing and stay safe, cheers!
Uncovering_Value
While UOB Kay Hian (UOBKH) is exempted from quarterly reporting, one can nonetheless obtain an indication of the growth they should be expecting from various other sources. One such example of this would be the quarterly report issued by its Thai subsidiary &ndash UOB Kay Hian Securities (Thailand) Public Company Limited.
UOBKH (Thailand) issued its financial results for the quarter ended 31 Mar 2021 on 12 May 2021. The executive summary can be accessed via the link below:
https://www.set.or.th/set/pdfnews.do?newsId=16207755619730& sequence=2021054905
Strong growth in bottom line of 50%
Compared to the first quarter in 2020, total revenues registered a healthy growth of 24% to Baht 429 million (or S$18.2 mil). More importantly, revenue grew at a lower clip of 15%, arising from increased employee benefit expenses and fee and services expenses. The lower growth in expenses illustrates managements efforts in containing costs.
Consequently, net profits of UOBKH (Thailand) increased by about 50% quarter-on-quarter to Baht 100 mil.
Positive momentum for Thai subsidiary likely to be carried into 2Q21
With the recent surge in coronavirus cases detected in Thailand, and the discovery of the new mutant B1617 strain on May 10, the nationwide state of emergency in Thailand has been extended for another two months till the end of July 2021. The nationwide state of emergency has been in place since Mar 2020. More information can be found in the Straits Times article below:
https://www.straitstimes.com/asia/se-asia/thailand-extends-state-of-emergency-as-covid-cases-deaths-soar
With restrictions in place, people are likely to allocate more time to stock trading, which has been the reason behind UOBKHs spectacular growth for 2020. This likely implies that 2Q21 quarter-on-quarter growth is likely to be similar (50%), or even stronger, than the QoQ growth in 1Q21.
Impact on UOBKH
The segmental profits of UOBKHs Thai subsidiary showed a 987% year-on-year growth in 2021 to reach $13.3 mil, contributing about 7.2% to total profit before tax of parent UOBKH. While the growth might seem exceptional, one should note that the growth came on the back of a smaller base in 2020 (c. $1.3 mil).
Nonetheless, the greater significance behind the 1Q21 performance of UOBKH (Thailand) is the strength of UOBKHs brand name and reputation in the Thai market as well as its strong regional network.
Make hay while the sun shines
As the saying goes, make hay while the sun shines. Opportunities do not come by often. When surfaced with one, an investor would do well to grab and hold on to it.
Happy investing and stay safe, cheers!
Uncovering_Value