Wing Tai

Wing Tai 

NAV $4.09

EPS for first 9 months is 10.87 cents.

Estimate the full year EPS of 15 cents. PE is about 14.1x based on current price of $2.12.

Annual dividend is about 3 cents, yield is about 1.4%.

P/B is 0.51x. Looks like it is trading almost 50% of its NAV.



 For the nine months ended 31 March 2018 (“current period”), the Group recorded a total revenue of S$267.5 million. This is a 31% increase from the S$204.6 million revenue recorded in the nine months ended 31 March 2017 (“corresponding period”). This increase is largely due to the higher contributions from development properties.

 The current period revenue from development properties was mainly attributable to the additional units sold in Le Nouvel Ardmore in Singapore and the contribution from BM Mahkota in Penang. BM Mahkota obtained its Temporary Occupation Permit (TOP) in the current period and the revenue for the units sold has been fully recognized.

 The Group recorded operating profit of S$24.9 million in the current period as compared to S$1.2 million in the corresponding period mainly due to higher contributions from Le Nouvel Ardmore and BM Mahkota as well as the gain on disposal of Huai Hai project in Shanghai.
The Group’s share of profits of associated and joint venture companies increased by 133% to $96.3 million in the current period from S$41.2 million in the corresponding period, largely due to the Group’s share of gain recognized by Wing Tai Properties Limited in Hong Kong from the disposal of Winner Godown Building, an industrial building located in Tsuen Wan.

 In addition, there was contribution from Malaren Gardens in Shanghai from the residential units sold to date and handed over to purchasers in the current period.

The Group’s net profit attributable to shareholders increased from S$10.6 million in the corresponding period to S$89.0 million in the current period.

Cash flow statement for 3rd quarter result seems generating a healthy cash in flow of $144m.

Chart wise, it is on a short term uptrend mode!
Looks like it may retest the recent high of $2.16. Breaking out of $2.16 with ease + good volume, that may propel to drive the price higher towards $2.23 with extension to $2.29.

Not a call to buy or sell.

Please do your own due diligence.

Trade/invest base on your own decision.

Wing Tai Holdings Limited, an investment holding company, engages in property development, property investment, and retailing businesses in Singapore, Malaysia, the People’s Republic of China, and Australia. The company develops residential and commercial properties; and invests in and manages serviced residences under the Lanson Place brand name, as well as manages a boutique hotel in Hong Kong. It is also involved in the manufacture and retail of textile garments; the provision of consultancy and advisory services; and project management and property maintenance activities, as well as in the fund management business.

 As of June 30, 2017, the company operated 206 stores. Wing Tai Holdings Limited was founded in 1955 and is headquartered in Singapore.