Raffles Medical

Raffles Medical - slowly edging higher , looks pretty encouraging / positive!

 From TA point of view, the current price of $1.17 is staying above its 20 days moving average as well as 50,100 & 200 Days MA.
This is rather bullish! MACD is also rising in a orderly manner and is looking positive to continue to trend higher.

 Short term wise, I think it may likely Re-attempt $1.21 .
 Breaking out of this Price level with ease + high volume that may propel to drive the price higher towards $1.25 then $1.30.

 Trade/invest base on your own decision.

quote : jeremyowtaip
Yeah! This one no need think so much. Long term trend in share price is up supported by general growth in domestic and medical tourism as a baseline support. The potential catalysts are the two new China hospitals which will contribute to it's earnings growth going forward. Even if the initial execution meets with hiccups, I think they will be able to work things out for the longer term as I am confident they have already done their extensive due diligence and ground studies before embarking on the new hospitals. And it is not just one but two new hospitals set up in two separate cities in China. To be able to trigger such a huge expansion project, they must have worked out that on a long term basis, the market there in China have tailwinds favouring demand for private medical healthcare. And Chongqing and Shanghai are two of the largest cities in China which are strategically located with high population and considered few of the important economic centres of China apart from Beijing.

Total Revenue has been consistently increasing from $340.99m in 2013 to $477.58m in 2017.

The Total Revenue is growing at a CAGR of 8.1%. A single digits high ,of which I think is quite good already.

 Operation cash flow has been quite healthy as they are able to generate $71.19m in 2013 to $82 .69m in 2017.

 Net income Margin has been generally declining from 24.89% to 14.82% in 2017.


It might be due to higher material /operation costs. NAV of 40.01 cents. EPS of 4 cents. PE of 27.64 times

 Dividend has been generally increasing from 1.7 cents in 2013 to 2.2 cents in 2017. This is really a welcome news for shareholder .

 For RMG, I have two possible fair values depending on how well it can execute it's new expansion and growth of it's Bugis hospital extension and also it's two China hospitals to grow it's EPS.

For the conservative fair value, it is $1.14 assuming a CAGR of 10% on it's EPS for next 7 years.

 For the more aggressive fair value, it is $1.46 assuming a CAGR of 14% on it's EPS for next 7 years. Thus, any price $1.14 and below is a bargain opportunity. not a call to buy or sell. dyodd.


Raffles Medical Group Ltd engages in the medical clinics operation and other general medical service businesses primarily in Singapore. The company operates through three segments: Healthcare Services, Hospital Services, and Investment Holdings. Its flagship hospital is Raffles Hospital, a tertiary care hospital that offers services, including emergency, cancer, children and women care, traditional Chinese medicine, counselling, dental, diabetes and endocrinology, dialysis, ear nose and throat, eye, family medicine, fertility, health screening, heart, internal medicine, international patients services, neuroscience, pain management, rehabilitation, radiology, Japanese clinic, orthopaedic, skin and aesthetics, surgery, urology, and nuclear medicine services for inpatients and outpatients. The company also operates 100 medical clinics that provide various services, such as general practice/family medicine, emergency, health check, health screening, immunization, travel health, specialty, minor surgery, X-ray, pre-marital screening, and corporate programs; provides health and related insurance; trades in pharmaceutical and nutraceutical products, and diagnostic equipment; and provides healthcare management and consultancy services, as well as specialized medical, medical laboratory, imaging center, dental, and clinical services. In addition, it owns properties; develops IT solutions; provides advisory and medical emergency assistance services; and sells medical kits. The company was founded in 1976 and is based in Singapore.

COMFORTDelgro

ComfortDelgro - seems like the bad news has more or less faded away as Grab has bought over Uber SEA businesses .

 I think one less competitor for ComfortDelgro. I think right now , hirer or driver has the choice of either joining the Taxi or Private Hire Car Driver’s Vocational License (PDVL) .


 From TA point of view, it has broken out of the downtrend channel and it is on the verge of rising further. On 13th April, we had witnessed a beautiful white thrust bar couple with high volume and closed well at $2.19 , Up 7 cents which is quite impressive.

 It has in fact went up higher to touch $2.22 before profit taking is setting in to close lower at $2.19.

The current price of $2.18 is hovering above the SMA lines of 20,50,100 & 200 days Moving Average which is a good indication for further uptrend mode direction.

Also MACD is rising up nicely in a orderly manner and is likely to see further upwards potential.

 Short term wise, I think it may re-capture the recent high of $2.22 and fly higher towards $2.30 then $2.35 with extension to $2.41.



NAV of $1.21
EPS of 13.9 cents.
PE of 14.6 times.
dividend of 10.4 cents , yield is about 5.09%

6.05 cents CD. XD on 3rd May.

Not a call to buy or sell.

Please do you own due diligence.

Trade / invest base on your own decision.


Corporation Limited, an investment holding company, operates as a land transportation company. It offers public bus and charter bus services; rail services; motor vehicle evaluation and other related services; public taxi services through the rental of taxis to hirers; car rental, car care, and leasing services; outdoor advertising services; and taxi booking management services. The company also provides vehicle inspection and other related services; non-vehicle testing, inspection, and consultancy services; automotive engineering services; coach services; private hire services; crash repair services; bus station services; and charter, coach, and terminal services. In addition, it operates driving schools; and workshops for repairing, servicing, and general maintenance of motor vehicles, as well as acts as a dealer in diesel for motor vehicles. Further, the company rents buses to hirers and provides related services; and constructs specialized vehicles and assembles bus bodies. It operates a fleet of 42,500 buses, taxis, and rental vehicles. The company has operations in Singapore, the United Kingdom, Ireland, Australia, China, Vietnam, and Malaysia. ComfortDelGro Corporation Limited was founded in 2003 and is headquartered in Singapore.

Genting Sing

Genting Sing - A nice attempt to take-out the psychological price level of $1.20, Looks rather positive. The bullish patterns was being triggered from 6th April 2018 whereby we have witnessed a super wide thrust bar couple with high volume. It manged to close well + higher of 6 cents to touch $1.14 on 6 April. This is generally positive and may likely continue to drive the share price higher.

The momentum has continued to play out and we have managed to see the price rises to hit $1.20 today - 17 April 2016.

Macd has been nicely rising and it may likely provide further indication that the share price may continue to trend higher.

Short term wise, I think it may likely re-conquer $1.20 level. Crossing over of $1.20 with ease + good volume that may propel to drive the price higher towards $1.25 then $1.30 with extension to $1.35 and above.


NAV of 60.7 cents.
Rolling EPS of 5.2 cents.
Rolling PE of 24 times.
Dividend of 3.5 cents.
Yield of 2.94%.

I think the price may continue to trend higher towards XD date of 30th April.


Also any winning or good news about the Japan casino license may likely provide the next catalyst to drive the share price higher.

Not a call to buy or sell.
please do you own due diligence.

Trade/Invest base on your own decision.




Genting Singapore PLC, an investment holding company, engages in the development, management, and operation of integrated resort destinations in Asia. Its integrated resort destinations comprise gaming, hospitality, MICE, leisure, and entertainment facilities. The company primarily owns Resorts World Sentosa, a destination resort, which offers a casino, Adventure Cove Waterpark, S.E.A. Aquarium, Universal Studios Singapore Theme Park, MICE facilities, hotels, Michelin starred restaurants, and specialty retail outlets. It is also involved in the operation of casinos; and provision of sales and marketing support services to leisure and hospitality related businesses, as well as in the investment activities. The company was formerly known as Genting International PLC and changed its name to Genting Singapore PLC in April 2009. Genting Singapore PLC was incorporated in 1984 and is headquartered in Singapore. Genting Singapore PLC is a subsidiary of Genting Overseas Holdings Limited.

Ezion

Ezion - to be resumed for trading today at 17th April 2018 at 9am. It would be interesting to see how it fares today's after being suspended for quite sometime.

Ezion is set to resume trading Tuesday as it reoffers almost SGD 450m ($343.2m) in bonds and proposes to issue nearly SGD 235m in shares and options.

The NAV may be is around 10 cents after issuing of these new shares.

 Pls do your own due diligence.
 Not a call to buy or sell.

Investorr may want to take note that they are proposing: Proposed Issuance Of 96,153,000 New Ordinary Shares And Proposed Grant Of 137,614,000 Options Apr 16, 2018

EzionHoldings Limited, an investment holding company, develops, owns, and charters offshore assets to support the offshore energy markets in Singapore, Australia, Asia, Europe, and internationally. The company operates through Liftboats, Jack up Rigs, and Offshore Support Logistic Services segments. It owns, charters, and manages rigs and vessels involved in the production and maintenance, and exploration and development phases of the oil and gas industry. The company also offers shipping agency and management, and engineering and cargo transportation services. In addition, it engages in the renewable energy business. The company was incorporated in 1999 and is based in Singapore.

ST Engineering

ST Engineering - Looking through the financial nos for the past 5 years , we can notice that the Total Revenue is more or less flat or down marginally from 6.63B in 2013 to 6.62B in 2017.

 Profit Before Tax seems to be declining/down quite a lot from 729.7m in 2013 to 623.3m in 2017. It has continued to decreased as reflected on the table below to a low of 590.6m in 2016 before slightly increased in FY2017 to 623.3m.

 Next, we take a look at the Net Profit figure , it is also dropping from 580.8m in 2013 to a low of 484.5m in 2016 , before slightly recover to 511.9m in 2017.

Looks like the Best year total net income was in year 2013. I think The business seems to be stagnant/mature and not much room for further grow in Total revenue as per the past financial results.

 NAV of 67.2 cents. Price per book is 5 times. EPS of 16.43 cents, PE of 22 times seems fully value at current price level.

 Looking through the Historical chart patterns, it is training near Historical Peak price. I think investor may want to take note of this.

 The dividend ex date will be in 24th April 2018. Investor may want to decide whether to sell into strength or hold to collect dividend.
 Yearly dividend of 15 cents, yield is about 4.55% for current price of $3.62.


It operates through four segments: Aerospace, Electronics, Land Systems, and Marine. 

Looking through the table below: We are able to know that Electronics is the main contributor which bring in a total revenue of 2.11B , an increase of 11.8% from 2016 versu 2017. .
Next in line is Aerospace which bring in a total revenue of 2.54B an increase of 2% from year 2016 versus 2017. The Land systems & Marine sector has gone through some challenges and is down from 10.5% & 24.2% respectively.

Return of Assets has generally been growing at a low single digit of 5% to 4.12% in 2017.

Return of Equity has also been dropping from 27.7% in 2013 to 21.57% in 2017.


Net income margin has also been declining marginally from 8.7% to 7.7% in 2017.

From TA point of view, after hitting the high of $3.70 on 12th April, it has since retrace and closed lowered at $3.62 with a wide bearish bar , short term wise , seems rather weak and may likely continue to trend lower.

Not a call to buy or sell.
Please do your own due diligence.

Trade / Invest base on your own decision.




 Singapore Technologies Engineering Ltd provides integrated defense and engineering services worldwide. It operates through four segments: Aerospace, Electronics, Land Systems, and Marine. The Aerospace segment provides maintenance, repair, and overhaul services (MRO) in airframe, component, and engine; aviation materials and asset management services, as well as aircraft interior solutions; training services for pilot and technical vocations, as well as air charter services; and engineering and design solutions, including passenger-to-freighter conversions and aircraft seats, as well as aviation support services. The Electronics segment provides electronic and infocomm technology, intelligent transportation and telematic, satellite communications and remote sensing satellite, sensors and electro-optic, and defense and homeland security solutions, as well as modelling, simulation, and edutainment solutions for e-government, rail and intelligent transportation, satellite communications, cyber security, and others. The Land Systems segment provides integrated land systems, specialty vehicles, and related life support services for defense, homeland security, and commercial applications. This segment also offers mobility solutions, weapons and ammunitions, munitions, soldier systems, logistics, and training and MRO services. The Marine segment offers shipbuilding, repair, and conversion services for naval and commercial vessels. This segment provides turnkey solutions, including concept definition, basic design, detailed and production engineering, construction, system installation and integration, testing, commissioning, and through-life support; ship repair and ship conversion services; and sustainable environmental engineering solutions. The company was incorporated in 1997 and is headquartered in Singapore.

Citic Envirotech

Citic Envirotech - Looking through their financial numbers for the past 4 years, Wow, they have done a super impressive job of growing the company revenue at a greater magnitude .

The Total Revenue is greatly enhance from a merely $185m in 2013 to $908.7m. A vast improvement of having a CAGR of 97% for past 4 years. A splendid achievement indeed!


The EPS was growing at a CAGR of 31.16%, a high double digits grow rate which is pretty impressive . Diluted EPS for 2013 was 1.4 cents versus EPS of 4.2 cents in 2017.

Total Net Income has also been growing and increasing at a higher magnitude from $29.5m in 2013 to $115.9m in 2017. A vast improvement of 3.9 times or 390% increased of its Net Income value.
Superb achievement!

Dividend paying out has been greatly increased from 0.3 cents in 2013 to 1.5 cents in 2017. Giving a yield of 2.1%.


EBITDA has been greatly increasing from $47.65m in 2013 to $229.13m in 2017. A 480% improvement from 2013 to 2017. The company is growing its revenue at a fantastic enhancement rate.

The total Assets has also been increasing from $567.1m of 2013 to $$3608.7m in 2017.
The company has been growing its total Assets at a greater magnitude 6.3 times.

Ops cash flow has been pretty healthy as reflected on the table below.

Investor may want to take note of the super high of Total Debts to Equity ratio of 43.98%.

I have roughly workout the EPS DCF Intrinsic value for this counter using a CAGR of 31.16%, discount factor of 15% of which the fair value is 95 cents.


If I want to factor in a greater Margin of Safety , i may increase the discount factor to 18% that would still give me a fair value of 81 cents.

The current price of 70 cents , at PE 22 times , Rolling PE at 16 times seems trading below its fair value. The potential of 15.6% if Target price is based on 81 cents and 35.6% if Target price is being set at 95 cents.

NAV of 41.4 cents. P/B 1.8 times.


From TA point of view, after hitting the high of 85.2 cents in 29 Mar 2017, it has since retreated sharply and continue to slide down further to close at 70 cents as of last Fri - 13 April 2018.
It is now stuck in a consolidated mode patterns . It can go either way. Which means to say it may continue to slide further down or bounce-off from here and move up the channel.

Not a call to buy or sell.
Please do your own due diligence.

Trade/Invest base on your own decision.


CITIC Envirotech Ltd. Announces Placement of New Shares to New Resources LLC Raising Approximately SGD 70.7 Million in Gross Proceeds (PROPOSED PLACEMENT OF 83,216,080 NEW ORDINARY SHARES )

 The Placement Price of S$0.85 is at a premium of 14.8% to the weighted average price of S$0.7407 for trades done on the ordinary shares in the capital of CEL (“Shares”) on the Singapore Exchange Securities Trading Limited (“SGX-ST”) on 27 December 2017, being the last full market day on which the Shares were traded prior to the date the Placement Agreement




CITIC Envirotech Ltd. provides integrated water solutions in the People’s Republic of China, the United States, and Malaysia. It operates through Engineering, Treatment, and Membrane segments. 

The company involved in the design, fabrication, installation, and commissioning of membrane-based water and wastewater treatment systems, as well as in undertaking various turnkey projects in the capacity of engineering, procurement, and construction contractor or as a membrane system specialist. It also invests in wastewater treatment projects under transfer-operate-transfer and build-own-transfer arrangements; and operates and manages third party treatment facilities.

 In addition, the company manufactures and supplies polyvinylidene fluoride hollow fiber membrane, and pressurized and submerged membrane products and integrated membrane systems; and trades in pumps. It serves the chemical, petrochemical, and municipal and industrial park sectors. The company was formerly known as United Envirotech Ltd. and changed its name to CITIC Envirotech Ltd. in July 2015. The company was founded in 1996 and is based in Singapore. CITIC Envirotech Ltd. is a subsidiary of CITIC Limited.