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You need to see things objectively, like if the stocks hits a certain price does it mean one can liquidate their holding at said price if needed?
As we know the price does not reflect the true value of the company, but yet the price is also just see for kaki song nia. Unless one is holding a small qty of shares how to sell a decent volume at a good price that happened on that day? Anyone who wants to buy this counter I tell them prepare to get married to the stock. Not that I mind, I enjoy the powermatic agm, everyone very relax like small family gathering lol.
Ps Anyway so happened I pushed the price to 3.99 that day, I had a order out for 10k shares filled 7k then I just decided to fill the remainding at market ask which happened to be 3.99 opps
aragosta ( Date: 26-Jul-2024 10:52) Posted:
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To add from the AGM, thanks to Mano who always starts with the great questions
- Sales from the wifi products might see some softness, the higher sales revenue were partly also due to the customers frontloading their orders. This may taper off, expect to normalize in 6 - 12 months
- Customers are slowly moving into Wifi 7 but this will likely also take time 12 - 18 months, some have just moved to Wifi 6 but there are on Wifi 5 which may leapfrog to Wifi 7
- Wifi 7 besides lower latency also presents a reduction in power consumption (around 20%?)
Property wise
- The exact psf after development is tbc (around 7200 sqm), awaiting strata surveyor confirmation which is around 1.5 months
- Property TOP likely to be delayed beyond 2026, expect maybe mid to late 2027
- Construction cost is est around 28M, this excludes marketing cost
One point to note raised by another shareholder is
- The property is developed under Powermatic itself (not a newly created company), this was done to save on stamp duty. As development of property goes usually developers ring fenced the development under a new legal entity, as developing under the core company does potentially expose the development company to legal claims if the property were to have defects (especially serious ones) down the road.
To add, the directors mentioned the feedbacks/ responses from the marketing agents were both POSTIVE and ENCOURAGING!
The majority of folks do not know that Powermatic' s current share price is mostly based on its WiFi business. The FH industrial property (and now subsequent redevelopment) has never been priced in, for whatever inexplicable reason.
No $7 No Sell
8 storeys high redevelopment, very suitable for F& B central kitchens, main contractor will be appointed soon. All profits after deducting the necessary costs (land costs, $28m redevelopment expenses, etc etc) will be returned to shareholders. Target TOP pushed back to later part of 2026 (or later) due to delays from regulatory bodies etc. They had an excellent architect who came out with a wonderful design to fully utilise the space and has since appointed 3 marketing agents. First of its kind (8 storeys) in that location.
The egg tart and curry puff was delicous. A lemon barley tetrapack was also thrown in for good measure. WiFi 7 is the way to go. Many companies had over-ordered during the Covid period so there has been excess inventories hence a current slow pickup in orders. Many global companies are aware of Trumps idiosyncrasies and have made the necessary contingency plans. It is ok for David Tan to be non independent director after serving the full term as independent director. Mano as usual was at his eloquent best. Folks at other AGMs tend to find him an irritant though.
Anyone attended the agm today?
One word of advice to existing shareholders. Hold tightly to your shares. Song song gao Julong.
I don' t think there is anything wrong with highlighting the varying risk of the project, but that said with the biz margins, value of land and cash at bank anyone can sense its an undervalued company. As investors of the company we are playing the long game in hopes for a handsome payout, maybe others instead went to buy Nvda or some crappy hype stock who knows really.
With regards to 3.99 price I don' t see it as anything spectacular, the stock is illuquid I could push it up to 6 dollars if I wanted. But if dump my entire stake I could probably drive it all the way down too, for stocks like powermatic the price jumps we see are for ownself song only. It doesn not hold reality due its liquidity unfortunately
aragosta ( Date: 16-Jul-2024 20:31) Posted:
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Those trying to make a fast buck here wait long long.
Fortune favors the bold, and patient. Many old birds see this gem of a stock shining brightly and have been holding long term to continue to enjoy and reap its benefits. Huat Ahhh!!!
No $7 No Sell!
hahaha.....aiya buy aldy just enjoy the ride.....wait for final fantasy lo
Wow thanks for the detailed writeup, also learned a few things from your post. Appreciate it
Fire8320 ( Date: 16-Jul-2024 16:29) Posted:
PES (private enclosed space) is not applicable to factory buildings, only non-landed private residences. Floor usage utilisation or efficiency is way less than that for residential buildings, due to the nature of factory operations (wider corridors, service corridors, M& E rooms and spaces, larger goods lobby sizes, etc)&hellip 80 to 85% would be typical, also due to the relatively low-rise nature of the development (8 floors). There is also likely LBC (Land Betterment Charge) to be levied on the development as PR of 2.5 is likely to exceed the baseline.
Note there will be development risks, dependent on execution, PM expertise, selecting the right contractor, timely authority clearances, etc. There will be a time lag of about 6 to 12 months before actual construction can commence, this assuming design drawings, especially structural & piling plans have been approved, the relevant permits are obtained in a timely manner and assuming demolition work commences soon. Cost overruns are common and the company would have to allow for it (Company has guided $25 million capex). Noted the company will have to write down part of the net book value of the property following demolition.
Finance/ cash flow wise, the company would be deprived of its rental income for the tenanted units going forward, effective June 2024. The company would also be paying rental as it is relocating to a rental property. The company has guided that it will monetise the property through sales of units in the redeveloped property. Sales proceeds of the units will be realised over a period of up to 24 to 36 months from project launch (Company has guided 2 years, purely for construction). So distribution of the net profits as dividends will not be immediate.
Good luck.
BeowulfSG ( Date: 10-Jul-2024 11:36) Posted:
Can I ask how did you know the current gross floor area is the same as the current area?
I calculated the current land size is around 29,490 sq feet, with a plot ratio of 2.5 that gives a max gross floor area of 73,725 feet for development.
Assume 95% ultilization and a gonus PES GFA of 10%, then roughly be around 73 - 77k sq feet for sale once development completes
I assume the current development is alot smaller in available psf but I was not able to find the data on that.
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PES (private enclosed space) is not applicable to factory buildings, only non-landed private residences. Floor usage utilisation or efficiency is way less than that for residential buildings, due to the nature of factory operations (wider corridors, service corridors, M& E rooms and spaces, larger goods lobby sizes, etc)&hellip 80 to 85% would be typical, also due to the relatively low-rise nature of the development (8 floors). There is also likely LBC (Land Betterment Charge) to be levied on the development as PR of 2.5 is likely to exceed the baseline.
Note there will be development risks, dependent on execution, PM expertise, selecting the right contractor, timely authority clearances, etc. There will be a time lag of about 6 to 12 months before actual construction can commence, this assuming design drawings, especially structural & piling plans have been approved, the relevant permits are obtained in a timely manner and assuming demolition work commences soon. Cost overruns are common and the company would have to allow for it (Company has guided $25 million capex). Noted the company will have to write down part of the net book value of the property following demolition.
Finance/ cash flow wise, the company would be deprived of its rental income for the tenanted units going forward, effective June 2024. The company would also be paying rental as it is relocating to a rental property. The company has guided that it will monetise the property through sales of units in the redeveloped property. Sales proceeds of the units will be realised over a period of up to 24 to 36 months from project launch (Company has guided 2 years, purely for construction). So distribution of the net profits as dividends will not be immediate.
Good luck.
BeowulfSG ( Date: 10-Jul-2024 11:36) Posted:
Can I ask how did you know the current gross floor area is the same as the current area?
I calculated the current land size is around 29,490 sq feet, with a plot ratio of 2.5 that gives a max gross floor area of 73,725 feet for development.
Assume 95% ultilization and a gonus PES GFA of 10%, then roughly be around 73 - 77k sq feet for sale once development completes
I assume the current development is alot smaller in available psf but I was not able to find the data on that.
aragosta ( Date: 10-Jul-2024 09:53) Posted:
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No $5 no talk
sengkang ( Date: 16-Jul-2024 09:45) Posted:
| Hit $3.70 this am. How high can it go? |
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Hit $3.70 this am. How high can it go?
Need any cheerleaders to cheer the stock to more all time highs?
Gone were the days when many companies showered buffet lunches for its shareholders
Heh not sure if I can make it down but will try )
cowabunga ( Date: 10-Jul-2024 12:08) Posted:
Maybe you can ask at the AGM on 25 July 3 pm at Toa Payoh SAFRA
BeowulfSG ( Date: 10-Jul-2024 11:36) Posted:
Can I ask how did you know the current gross floor area is the same as the current area?
I calculated the current land size is around 29,490 sq feet, with a plot ratio of 2.5 that gives a max gross floor area of 73,725 feet for development.
Assume 95% ultilization and a gonus PES GFA of 10%, then roughly be around 73 - 77k sq feet for sale once development completes
I assume the current development is alot smaller in available psf but I was not able to find the data on that.
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Maybe you can ask at the AGM on
25 July 3 pm at Toa Payoh SAFRA BeowulfSG ( Date: 10-Jul-2024 11:36) Posted:
Can I ask how did you know the current gross floor area is the same as the current area?
I calculated the current land size is around 29,490 sq feet, with a plot ratio of 2.5 that gives a max gross floor area of 73,725 feet for development.
Assume 95% ultilization and a gonus PES GFA of 10%, then roughly be around 73 - 77k sq feet for sale once development completes
I assume the current development is alot smaller in available psf but I was not able to find the data on that.
aragosta ( Date: 10-Jul-2024 09:53) Posted:
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Can I ask how did you know the current gross floor area is the same as the current area?
I calculated the current land size is around 29,490 sq feet, with a plot ratio of 2.5 that gives a max gross floor area of 73,725 feet for development.
Assume 95% ultilization and a gonus PES GFA of 10%, then roughly be around 73 - 77k sq feet for sale once development completes
I assume the current development is alot smaller in available psf but I was not able to find the data on that.
aragosta ( Date: 10-Jul-2024 09:53) Posted:
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