G Invacom
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Global Invacom, a satellite play
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2981-3000 of 3055
took some profits at 68. bal fight
tonytan44 ( Date: 03-May-2019 14:52) Posted:
nice got at 0.065. wait for rd 2
tonytan44 ( Date: 03-May-2019 14:24) Posted:
| waiting for 0.065-0.066 to try long for 2nd rd |
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make money from buying this stock.....take your winning bullets short other stocks. make money double fast
Grubber ( Date: 06-May-2019 13:35) Posted:
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this BB dare throw money and fry. haha at least can play. soon retailers will relise and they will capture the liquidity.
Starwar88 ( Date: 06-May-2019 13:32) Posted:
| Reverse from day Low. BB power. |
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veri powderful one
Reverse from day Low. BB power.
Wow.. was reading through this post... hopefully the management finally realized the need to refocus on solidly building the core business. No more RTO BS.
VW_Investments ( Date: 21-Jun-2017 15:02) Posted:
(Reposted to tag the correct company name)
We scoured the Singapore small-cap space and discovered this net cash company with decent fundamentals. Global Invacom (SGX: QS9) is a worldwide leader in satellite broadcast solutions, utilising its 61 patented (with another 53 pending) technology in manufacturing satellite dishes. The products are used by telecoms, media, aviation and defense industries.
How does the industry work? If you are a media broadcaster, your media content (radio, streaming TV etc) would be compressed and beamed up to satellite stations. Satellite dishes, installed at buildings, would receive the content of varying wavelength, and be " decoded" before being translated onto the pixelated TV screens. Internet that we use today are mainly transmitted through cables laid thousands of miles across oceans. For large countries such as Indonesia and China, some of the under-developed villages are not able to have access to the world without land-based fibre-optic cables connecting them. Hence, products of Global Invacom come into demand, as these villages just need a TV set and a satellite dish to receive content. Major customers of the company are SkyTV, Dish Network and Astro.
Why the company is interesting at this price?
- Full year earnings to reverse last year' s loss, translating into dividends for shareholders
- Net cash company that may boost net earnings should it pare down its debt. As of the latest financial quarter 1Q17, the company has USD 6.3m in debt, but sits on USD7.6m cash. Average interest expense of 8.3%, or USD0.5m can be saved should it deleverage. This interest saving represents approximately 1% increase in dividend yield.
- Well-positioned to capitalise on new developments. Management is optimistic of its products that serve 32 stacking channels, and have been on trial with several clients. We expect substantial improvement in earnings to the tune of USD2.7m for the full year. A competent set of 2Q17 results are likely to catapult it into space.
- Invacom invested close to USD4m last year in R& D, the highest amount in the preceding five years. We expect the company to reap the benefits of its R& D expense this year. We expect the patents to be monetised in future periods, while it tapers its R& D expense to 2.5% of Satellite Communications revenue.
- Valuation support at $0.171, assuming 0.5% perpetual growth (vs industry estimate of 5.1% between 2014 and 2019) and WACC of 12.5%.
- Deep-value should it be broken up and sold in pieces. At 1x net tangible asset value, Global Invacom would be worth S$0.205 a share. This is a distressed scenario that assumes no value is created, and that the 61 patents are useless. 1Q2017 did not show any indication of such.
- Our underpinning valuation method is discounted cash flow, which yields similar intrinsic value at SGD0.205 per share. We relied on a set of conservative estimates. For examples, our perpetual growth for the company is 2% (well below industry average) and EBIT profitability of its core Satellite Communications segment, which makes up 86% of its total revenue in 2016) to contract from 7.7% in FY16 to 2.5% in FY21e. We have not factored in the cost saving should the company pare its leverage or negotiate long-term borrowing arrangements that reduce interest expense.
- Foreign exchange gains, which will benefit FY17e numbers. Manufacturing base in the UK records British pound costs, while products transact in US dollar. Continued weakening of British pound, on Brexit concerns, boost earnings of Global Invacom.
There are risks to investing in Global Invacom. Ultimately, it is a manufacturing company. Customer de-stocking and inventory obsolescence will have an adverse impact on its financials, as was the case in FY16. Could there be a repeat? Definitely, but we do not see it as a near-term impediment to our fair value.
Management has the tendency of over-paying in an aggressive bid to expand its presence. This has resulted in impairments over the last few years. We would prefer management to consolidate its position internally, streamlining costs and seek areas of competitive advantage before acquiring horizontally, for the sake of growing revenue. It is a lesson reflected in share price, which investors have punished the stock from SGD0.41 in January 2015 to SGD 0.14 by the end of 2016. What an expensive ego-boost by being overly-bullish on targets, and a secondary listing in London AIM, giving investors another avenue to slam the stock.
The company is thinly-traded, which may have significant price volatility. While we may have accounted for it with a beta of 1.2, there may be shortcomings in valuing risks based on CAPM.
Global Invacom trades at 12.6x FY17e earnings, comparatively cheaper than similar manufacturing companies such as Valuetronics (SGX: BN2) and Venture Corp (SGX: V03) at 13.5x and 17.6x, respectively. The comparables have book value below market value, indicating that outright sale of net assets may not fetch as much as what the share prices suggest the companies are worth.
Hence, we believe Global Invacom, at current SGD 0.175 is backed by its balance sheet, unless management does not learn from its past lessons and screws investors up time and again.
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nice got at 0.065. wait for rd 2
tonytan44 ( Date: 03-May-2019 14:24) Posted:
| waiting for 0.065-0.066 to try long for 2nd rd |
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waiting for 0.065-0.066 to try long for 2nd rd
shiok make 4 bids.
tonytan44 ( Date: 03-May-2019 13:06) Posted:
| this stock very steady. any time mkt sentiment better they fry. must find out which group do next time i will follow. other stock got simi big names also no use. haha |
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this stock very steady. any time mkt sentiment better they fry. must find out which group do next time i will follow. other stock got simi big names also no use. haha
Ya. Congratz on your profit. Wished I had bought it yesterday. Today would have Huat big.
Berani ( Date: 24-Apr-2019 19:13) Posted:
BB all go china everbridge liao
Starwar88 ( Date: 24-Apr-2019 19:01) Posted:
| So fast back to square 1. On Low volume somemore. Think BB totally out |
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BB all go china everbridge liao
Starwar88 ( Date: 24-Apr-2019 19:01) Posted:
So fast back to square 1. On Low volume somemore. Think BB totally out.
Starwar88 ( Date: 23-Apr-2019 13:35) Posted:
| Many trapped yesterday above 70. If today close red, watch for T+4. Recent counters that move up a lot, most gave up quite abit of their gains. May happen for this counter if BB stop buying. |
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So fast back to square 1. On Low volume somemore. Think BB totally out.
Starwar88 ( Date: 23-Apr-2019 13:35) Posted:
| Many trapped yesterday above 70. If today close red, watch for T+4. Recent counters that move up a lot, most gave up quite abit of their gains. May happen for this counter if BB stop buying. |
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Anyone attending AGM tomorrow?
Many trapped yesterday above 70. If today close red, watch for T+4. Recent counters that move up a lot, most gave up quite abit of their gains. May happen for this counter if BB stop buying.
Coming to Chong later?
What happen?.
easywin ( Date: 22-Apr-2019 10:57) Posted:
| Is an easywin counter for today? |
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Is an easywin counter for today?
Don?t worry. Will close at day high :)
fruitfulness ( Date: 22-Apr-2019 09:56) Posted:
| Hopefully, will stabilize at between 8.3 and 9.3 cents by the time of the AGM, i.e. two day' s time. By then, we want to hear of clear business strategy and plan to improve shareholder value. The failed RTO attempt was a proposal to destroy shareholder value. Thus, the share price reaction today... |
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Hopefully, will stabilize at between 8.3 and 9.3 cents by the time of the AGM, i.e. two day' s time. By then, we want to hear of clear business strategy and plan to improve shareholder value. The failed RTO attempt was a proposal to destroy shareholder value. Thus, the share price reaction today...
