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Saturday, April 27, 2019

Sheng Siong

1st quarter results is out , seems not bad! Gross revenue is up 10.1% to 251m versus 228m last year.


 Net profit is up merely 6% to 19.3m . Admin expenses has gone up quite a lot at 10.3% to 42m versus 38m last year,almost wipe out all the gross profit gain.

 EPS is 1.29 cents. Zero debts.


 Cash-on-hands of 86m. Net cash per share is about 5.5 cents (86/1503m shares).

 NAV is 20.6 cents. P/B 5.04x. Yearly dividend of 3.4 cents. Yield is 3.26%. I think current price of 1.04 is trading at full value. P/B is pretty high at 5.04x. I would patiently wait for price to sail back to 92-95 region ! At least , a minimum yield of 3.5% may provide some decent dividend yield. PE is 20.15x.


 Not a call to buy or sell.

 Pls dyodd.

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