Ying Li Intl

Ying Li - 1st Quarter result just out today . Total comprehensive profit of RMB 3.319m versus last year loss of -$7438.

The profit was achieved due to lower foreign currency translation differences of RMB -1.5m versus RMB -28.74m .

If not, result would be quite bad .



NAV of 32 cents.
Rolling PE of 17x.

Cash flow seems to be in negative outflow . I think investor might want to study further into the details of their cash flow level.

From TA wise, it is trading in a consolidation mode . Would this result be able to bring cheers to the price !

It would need a nice break out of 14.2 cents in order to rise higher towards 15 cents and above .



Not a call to buy or sell

PlwPle do your own due diligence.



Ying Li International Real Estate Limited, an investment holding company, engages in the development, sale, rental, management, and ownership of commercial and residential properties under the Ying Li brand in the People’s Republic of China. It operates through Property Investment, Property Development, and Others segments. The company primarily develops residential, office, retail mall, storage and car park, and other projects. It also engages in the provision of property consulting, selling, marketing, management, and leasing services, as well as car parking services; and purchase of construction material and equipment. The company has a strategic cooperative partnership with China Everbright Limited. Ying Li International Real Estate Limited was founded in 1993 and is based in Singapore

StarHub

StarHub - looking through their financial nos, Net Income has been dropping from 370M of 2014 to 238m in 2017.

Dividend has been cut from 20 cents to 16 cents.

The latest 1Q 2018 result also shown a drop of 13% for the Net profit down from 72m to 63m.

Net profit is still dropping and not sure when will we be able to see a good improvement for the company to boost their Net income revenue!

Business Outlook:


➢ Revenue: Maintain service revenue to be 1% to 3% lower YoY

➢ Service EBITDA*: Expect service EBITDA margin to be between 27 - 29% after adoption of SFRS(I) 15

➢ CAPEX: Maintain cash capex to be about 11% of total revenue (excludes spectrum and building payments)

➢ Dividend: Declare an interim quarterly dividend of 4.0 cents per ordinary share for 1Q2018 Intend to pay a quarterly cash dividend of 4.0 cents per ordinary share for FY2018


*Service EBITDA refers to EBITDA less equipment margin (Sales of Equipment less Cost of Equipment)

Free Cash flow has also been drifting lower as reflected on the chart below:

From TA point of view, it is on a long term down trend mode as reflected on the chart.

After going ex-dividend 2 days ago, it has continued to drop lowered from $2.26 to close at $2.18 level. The dropping of 8 cents is more than the 4 cents dividend . This is rather negative.

Short term wise , it is still rather weak and we may see further selling down pressure.
Immediate resistance is at $2.10. Breaking down of $2.10 level with high volume, it may likely continue to slide down further towards $2.00 with extension to 1.91.



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

SingPost

SingPost - Looking through their financial nos for the past 5 years, we can notice that Total revenue has risen from $868m in 2014 to $1522m in 2018. But Net Income has been dropping from $191m in 2014 to $126m in 2018. If you take a look at the Net Income for FY 2016, which is $249m , this is almost 50% lowered as compare to FY 2016.

In my opinion, it is still on a early stage of turning around their total net income.
The 4th quarter result has shown great improvement of Net profit 23,946m as compare to last year Net Loss of 69m.


Total dividend of 3.5 cents is still almost half from the golden years of 7 cents .
It is quite surprising that they are declaring a 2 cents dividend for final dividend. Shareholder would be happy for the increase of dividend being declared.

Full year ended 31 March 2018.

Revenue for the year increased 8.6 per cent to S$1.46 billion on growth in eCommerce-related activities across the Postal and Logistics segments.

Net profit attributable to equity holders rose 278.4 per cent to S$126.4 million, largely due to the absence of one-off impairment charges. Excluding exceptional items, underlying net profit declined 9.2 per cent to S$105.0 million. While the eCommerce and Property segments saw improved performance, Logistics and Postal operating profits fell.

For the fourth quarter ended 31 March 2018, revenue grew 13.5 per cent to S$367.5 million. Net profit attributable to equity holders improved to S$23.9 million, from a loss of S$65.2 million, which reflected impairment charges in exceptional items. Operating profit, excluding exceptional items improved 18.0 per cent. Lower contributions from associates and increased tax provision however resulted in underlying net profit for the quarter declining 28.6 per cent to S$15.3 million.

Revenue grows on higher eCommerce-related activities

Postal revenue rose 15.0 per cent driven by higher eCommerce deliveries. Operating profit declined 4.0 per cent with a change in margin mix.

Logistics revenue increased 4.3 per cent across the Group, driven by growth in last mile eCommerce delivery volumes, as well as increased freight forwarding volumes. Operating profit declined as margins were impacted by continued investment in the business, and pricing pressures in North Asia.

Revenue of the eCommerce segment was stable despite the loss of two major customers the prior year, and accelerated by 15.7 per cent in the fourth quarter. Operating loss was reduced by more than 50 per cent on improved performance due to TradeGlobal’s turnaround business plan.

Rental and property-related income increased 29.9 per cent on higher rental income from the SingPost Centre retail mall. Committed occupancy rose to 95.6 per cent. 

Free cash flow improves significantly

For the full year ended 31 March 2018, free cash flow grew to S$136.1 million, from S$0.3 million the previous year. This was due to reduced capital expenditure, following the completion of the Regional eCommerce Logistics Hub and SingPost Centre retail mall. 

Final dividend

For the fourth quarter of FY2017/18, the Board of Directors is recommending a final dividend of 2.0 cents per ordinary share (tax exempt one-tier). This would bring the annual dividend for the financial year to 3.5 cents per share, representing a payout ratio of 76 per cent of underlying net profit. The proposed dividend is subject to shareholders’ approval at the Annual General Meeting in July 2018.

Mr Coutts added: “We continue to execute on our transformation and build on our partnership with Alibaba in eCommerce. We are integrating and scaling our eCommerce businesses in the US and Southeast Asia, as well as the rest of our overseas operations, and optimising the cost structure of the SingPost Group.”

(https://www.singpost.com/about-us/news-releases/singpost-full-year-net-profit-2784-cent-s1264-million)

From TA point of view, it has managed to cross over $1.35 which is the immediate resistance. The volume is not very impressive as compare to previous wide candlestick up bar as reflected on the chart.

Two major overhead Resistance which is $1.40 & $1.42. It would be quite a big challenge to re-attempt these two major Resistance.

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

Singapore Post Limited provides postal, e-commerce logistics, and retail services in Singapore and internationally. The company operates through three segments: Postal, Logistics, and eCommerce. The Postal segment offers services for collecting, sorting, transporting, and distributing domestic and international mail, as well as sells philatelic products. Its international mail service includes handling of incoming and outgoing international mail. This segment also provides ePost hybrid mail services, which integrate electronic data communication with traditional mail; and agency services and financial services. The Logistics segment offers a range of logistics solutions, including freight, warehousing, domestic and international distribution, and delivery services. Its services include e-commerce logistics, warehousing, fulfilment and distribution, and other value-added services; and parcel delivery, freight forwarding, and self-storage solutions and management services. The eCommerce segment provides front-end e-commerce solutions. The company is also involved in the online sale of luxury products; provision of management and consultancy services to related entities, as well as business mail solutions and distribution of mail, and global sale and marketing services; and real estate activities. In addition, it provides electronic platform and recyclable lockers for merchandise distribution, as well as customs brokerage services; and acts as a trading company and purchases organization for ocean freight services. Further, the company is involved in the courier activities other than national post activities; and provision of freight collections transshipments, logistics management, and aviation services. Singapore Post Limited was founded in 1819 and is headquartered in Singapore.

Venture

Venture - The share price has managed to bounce-off from the low of $18.50 and rises above it's 200 days moving average at about $20.00 level.

With the recent bompcom buying back share , looks like price has more or less stabilize and hover above $21.00.

It will need to re-capture the recent high if $22.30 in order to continue to trend higher.


Crossing over 22.30 with ease plus good volume it may likely drive the price higher towards $23.00 then $23.50 level which is also coincide with it's 20 days moving average.


Not a call to buy or sell.

Please do your own due diligence.



Venture Corporation Limited, together with its subsidiaries, provides technology services, products, and solutions in the Asia Pacific. The company operates through Electronics Services Provider, Retail Store Solutions and Industrial, and Components Technology segments. It offers manufacturing, product design and development, engineering, and supply-chain management services to the electronics industry. The company also designs, manufactures, assembles, distributes, and trades in electronic, mechanical, and computer related products and peripherals; manufactures and sells terminal units; develops and markets color imaging products for label printing; designs, integrates, and trades in electronic security systems; and develops and supports information systems. In addition, it engages in the provision of manufacture, design, engineering, customization, and logistics and repair services; manufacture, design, fabrication, stamping and injection, metal punching, and spraying of industrial metal parts, tools, and dies; and design, customization, and marketing of tool-making and precision engineering solutions. Further, the company manufactures plastic injection molds and moldings with secondary processes and subassembly; and provides manufacturing services to electronics equipment manufacturers, as well as offers management services. Additionally, it imports and exports electronic parts, components, equipment, devices, and instruments. Venture Corporation Limited was founded in 1984 and is headquartered in Singapore.

POSH

Posh - NAV of 48.6 cents. Net Loss of 292m for FY 2017. Negative EPS.

1Q 2018 has shown great improvement to narrow down the Net Loss to almost half as of last year.

Total revenue increase from 34m to 70m.
Net Loss is lowered from 18m to 7.1m.

PACC Offshore Services Holdings Ltd. provides offshore marine support services worldwide. The company’s Offshore Supply Vessels segment operates a fleet of mid to deepwater anchor handling tug supply vessels, which offer towing and positioning of drilling rigs, transporting drilling materials, and other equipment services; and platform supply vessels that transport drilling materials and supplies to drilling rigs and offshore production platforms, as well as pipes and other materials for construction of marine structures or pipelines. The company’s Transportation and Installation segment supports marine contractors in the construction and maintenance of oilfield infrastructure and pipelines. This segment operates anchor handling tugs for cross-ocean towing, and transporting large marine structures from the builder’s yard and installing them in the oilfields; and large marine structures, and ballastable tank barges and tugs for transporting construction materials and subsea pipes. Its Offshore Accommodation segment owns and operates vessels that offer accommodation, transportation, and hospitality services for workers in oilfields. The company’s Harbour Services & Emergency Response segment owns, operates, and manages harbor tugs and heavy lift crane barges for supporting harbor towage operators and providing heavy lift services to shipyards; and provides firefighting, salvage, wreck removal, emergency rescue, and oil spill response services to vessels. The company also provides services to control pollution from oil and chemical spillage, as well as to protect the marine environment; ship management services; and support services for water transport, as well as rents and leases ships. It also charters barges and boats with crew. It operates a fleet of approximately 100 offshore vessels. The company was incorporated in 2006 and is headquartered in Singapore. PACC Offshore Services Holdings Ltd. is a subsidiary of Kuok (Singapore) Limited.


From TA point of view, it is having a Reversal play candlestick chart patterns.
Looking good to re-attempt the recent high of 34.5 cents.

With Oil price hitting above US70 per barrel, this counter may likely benefit . Short term wise, it may likely continue to trend higher.

Crossing over with ease + good volume, that may propel to drive the price higher towards 39 cents then 40 cents with extension to 46 cents.

Look at the Monthly chart, it may have found the bottom! Likely to see it rocket up any moment.

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

China Sunsine

China Sunsine - has reported an excellent set of 1Q result for 2018.

Net profit rises 161% to RMB149.5m versus RMB57.2m last year.

EPS rises from RMB0.1232 to RMB0.3040, an increase of 147%. What a spectacular achievement.

A Net Net Position company whereby the total current assets value is almost more than 3.5x of the total current liabilities .


The company has a Net cash per share of S$0.21.

China Sunsine Chemical Holdings Ltd., an investment holding company, engages in the manufacture and sale of rubber chemical products in the People's Republic of China, rest of Asia, the United States, Europe, and internationally. The company offers rubber accelerators, anti-oxidant agents, vulcanizing agents, anti-scorching agents, and insoluble sulphur used for the production of tires and other rubber related products, such as shoes, belts, and hoses. It is also involved in the production and supply of heating power, including preparation and implementation of the project; and hotel and restaurant business. The company offers its products under the Sunsine brand name. It primarily serves the tire companies. The company was incorporated in 2006 and is based in Singapore. China Sunsine Chemical Holdings Ltd. is a subsidiary of Success More Group Limited.

 First, we look at the compounded annual growth rate (CAGR) in revenues for China Sunshine for the past 5 years from 2013 to 2017.

  Total Revenue - is the sum of cash inflows, increase in operating accounts such as receivables and occasionally, unrealized gains generated in the course of Company's Business activities.

 Total revenue has been increasing in double digits growth of almost 50%(CAGR) which is superb. The total revenue has grown from $353M to $562m.

 Next, we are looking at the Net Income which is growing at a multiple of almost 4 times which is $16M from 2013 to a whopping $70.1m for 2017.


Now , we are going to take a look at the Normalized diluted EPS - Normalized Net Income divided by the diluted weighted average share outstanding. It is growing at a CAGR % of 40% which is amazing from 3.3 cents from 2013 to 12.8 cents from 2017.

Next on to their efficiency. China Sunsine's return on assets (ROA) and return on equity (ROE) have maintained well from 2013 to 2017. In fact, I looked at their past trend these two return Metricsand they have maintained well at current levels of ROA (above 25%) and ROE (above 22%). We must realise that it is not easy to maintain the ROA and ROE in any business while it is growing it's assets and shareholders' equity through time. To be able to maintain the same level or even increase the level of ROA and ROE would mean the business has high efficiency. China Sunsine justdemonstrated their high efficiency in their businesses. If they can continue to maintain these same levels of returns, I will be even much more impressed with them.


ROA - is a measure of company profitability relative to total assets. It is calculated by dividing Tax Effective EBIT ( earning before interest and tax) by average total assets over a twelve months period.

ROE - is a measure of company profitability relative to total equity. It is calculated by dividing Tax Effective EBIT ( earning before interest and tax) by average total equity over a twelve months period.

Now on to their liquidity. We see that China Sunsine just got much better at their cash conversion cycle. Now on to their liquidity. We see that China Sunsines just got much better at their cash conversion cycle. The number of days in their cash conversion cycle has decreased significantly over the past 5 year meaning that it takes them much lesser time in number of days to convert cash on hand into even more cash through their operations.he number of days in their cash conversion cycle has decreased significantly over the past 5 year meaning that it takes them much lesser time in number of days to convert cash on hand into even more cash through their operations.
It is taking lesser nos of days to collect the cash from 121 days to 101 days.

We now look at how their balance sheet has changed over time.. I will tabulate the comparison of some important metrics between close to 5 years ago (2013) versus latest financial report (2017).

Current ratio = 1.67 (2013) vs 3.69 (2017) . It measures the company's ability to cover current debts with current assets.It it calculated by dividing total current assets by total current liabilities.

Quick ratio = 1.30 (2013) vs 3.14(2017). It measures the company's ability to cover current debts with liquid current assets. It is calculated by dividing the sum of the cash, short term investments, and account receivable by total current liabilities.

Net Profit Margin = 4.53 (2013) vs 12.46 (2017)

EBITDA Margin = 11.61 ( 2013 vs 21.14 (2017)

I also noticed that they are now a net net company with their current assets more than their total liabilities. 
Total Current Assets - $292.607m vs Total Current Liability of $79.139m.

The Operation cashflow has a great improvement from $27.59m to $79.37m.

Net Change in Cash inflow from $7.11m to $45.56m

I have roughly workout the intrinsic fair value for EPS for past 4 years (2013 - 2017) with CAGR of 40% and discount factor of 25% to come up with a value of $2.51.
I would further factor in a further discount of 20% i.e.$2.51 X 0.8 = $2.00.

The current price of $1.57 may present a further upwards potential of 27% to reach $2.00.

If using the Cash flow to work out the intrinsic value for past 4 years with CAGR of 50% and a discount factor of 25% we may roughly derive the fair value of $1.828.
Let say we factor in another 15% discount which is $1.828 x 0.85 that would give us a estimated fair value of $1.56.

The current price of $1.57 is trading at full value of $1.56 if investor is going to base on the Cash flow intrinsic value.

It might be good to exercise with due care.

From TA point of view, it is now on a uptrend mode patterns.
After going ex-dividend of 2.5 cents a few days ago, it has managed to continue to trend higher. This is rather bullish!

Looks like it may likely re-capture the recent high of $1.60 and continue to rise further.

Not a call to buy or sell.

Please Dyodd