Raffles Medical

After touching the low of 98 cents, it has staged a strong rebound and rises higher to touch the high of $1.06 today, this is rather bullish.

Today the share price rises also accompany with high volume which is a healthy sign that the momentum may continue to head higher.

Short term wise, likely to move up to retest $1.10 with extension to $1.15 .

I think current price level may attract some bargain hunter interest.

Trade / invest base on your own decision.

 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 to me.

not a call to buy or sell. Please 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.

SPH

SINGAPORE, 11 July 2018 – Singapore Press Holdings Limited’s (SPH) third quarter net profit attributable to shareholders rose 64.3% to $47.4 million compared with the same period a year ago. This was due to lower impairment charges, the Group said in the results announcement for the third quarter ended 31 May 2018 (3Q 2018) today.

Group Performance

Group operating revenue of $250.1 million for 3Q 2018 was $9.9 million or 3.8% lower year-on-year (“y-o-y”), compared with 3Q 2017.

Group recurring earnings or operating profit grew 29.6% to $44.4 million, an overall rebound from the same quarter last year. This was despite Media business revenue declining $14.6 million or 8% to $167.9 million for 3Q 2018.

Revenue for the Property segment was slightly lower, declining 2.4% to $60.1 million y-o-y. It is the largest segment in the Group by profit, which accounts for close to 60% of the Group’s profit. It has continued to provide a steady income stream and stability to SPH’s financial performance.

Revenue from the other businesses rose $6.1 million or 38.5% to $22 million y-o-y, led by contributions from the aged care and education businesses.

Operational Highlights :The Group continues to face its digital challenges head on, while making key management appointments to boost its “First to Digital” initiatives, as it seeks to aggressively grow digital revenue.

SPH’s promotional efforts in the quarter had good results, as daily average digital circulation copies increased by 121,000 copies from 3Q 2017 to 3Q 2018. Going forward, SPH will continue with more promotions.

The E-paper (PDF version of the print paper) is also seeing good readership with more than 37,000 unique readers just on The Straits Time alone – this is more than 15% of total ST circulations. SPH will continue to promote E-paper readership and add new exciting features, while improving its understanding of print readership with valuable data analytics

On the digital advertisement front, SPH’s total digital ad revenue is showing good growth and momentum, responding well to the challenge from digital disruptors. The new SMX platform, a data-driven programmatic ad exchange that started operating on 8 May, has been gaining momentum in reaching the Singapore digital population

From TA point of view, it is on a nice reversal chart patterns and may likely move up to retest $2.80.

MACD & RSI are rising and may likely provide further indication for price to continue to head higher.

Breaking out of $2.80 with ease + high volume that may propel to drive the price higher towards $2.90 then $2.94 with extension to $3.00 and above.

Not a call to buy or sell.

Please do your own due diligence.

Some forum discussion:

Hi Sporeshare, SPH is not out of the woods yet. I still see that for 3Q18 on a y-o-y basis, it's core business in Media continues to experience a decline of 8% in operating revenue. It's property business also faces a marginal decline of 2.4% in operating revenue. Only the others segment saw a sharp jump in operating revenue of 38.5%. As a result, the overall operating revenue saw a marginal decline of 4%. It's YTD 3Q results also showed a similar trend in all the business segments. However, I got to admit that the decline in revenue for core Media business is lesser now.(jeremyowtaip)

The reason for sharp increase in net profit attributable to shareholders of 64.3% can be traced to a few items. The first is that most of the operating costs have been reduced. I read in one of their notes that staff costs have been reduced due to lesser bonuses given out. I can see that there were some efforts to reduce their operating costs.

Another item which contributed was the decrease in impairment of goodwill and intangibles y-o-y. I take this as a one-off accounting change on their goodwill and intangibles which coincidentally and opportunistically has benefited them on their income statement since a lesser impairment was taken y-o-y. However, such accounting measure may not be suggestive that the actual performance of their business segments have really improved.

Another item which contributed was the sharp increase in net income from investments. There were disposal of investments which booked in better profits from their disposals y-o-y. I see this as an opportunistic way to make some profits in order to boost their profitability further. Again, this is not suggestive that their businesses have improved. I can only say that they time their disposal of investments well to book in some profits to raise their profitability.

All in, they did well to make their income statement look good with a sharp jump in net profit attributable to shareholders. However, their actual operating revenue from core Media business still faces decline and drags the overall revenue lower albeit at a less extent now.

In conclusion, my opinion is only neutral and not excited with this current set of financial results. Things are getting better for them but they are still not out of the woods yet. Maybe see next quarter whether things further improve or deteriorate. As of now, I can only say that they have managed to pull together a good show in their income statement to paint the picture that profitability has improved sharply.

Singapore Press Holdings Limited, together with its subsidiaries, operates as a media company in Singapore and internationally. It operates through three segments: Media, Property, and Treasury and Investment. The company offers daily newspapers and student weeklies; publishes, produces, and distributes books; publishes and produces approximately 80 magazine titles in the areas of lifestyle and information technology, as well as operates various online sites; and provides digital advertising services. It also operates other media initiatives, such as AsiaOne, Stomp, zaobao.sg, and zaobao.com Websites; and online marketplace for jobs, property, cars, and general classifieds; radio channels, including Kiss92 and ONE FM91.3 in English; SPH Buzz, a retail convenience chain; and UFM100.3, a Chinese radio station; financial portals; and Web search portals that offers property data and analysis. In addition, the company provides online investor relations, management support, editorial, fund management, business management and consultancy, online marketing, public relations, news reporting, technical, software consultancy, online classifieds, and other services, as well as multimedia contents and services. Further, it organizes consumer and trade events, exhibitions, conferences, and conventions; owns and operates nursing homes; develops e-commerce applications; franchises kiosks to third party operators; and licenses copyrights, trademarks, and software. Additionally, the company is involved in computer programming activity for online investor relations and related business; holding, developing, managing, and letting properties, as well as provision of property management services; holding investments; and managing shopping centers. Singapore Press Holdings Limited was incorporated in 1984 and is based in Singapore.

Hi-P (H17.SI)

Yesterday , we have witnessed a beautiful white thrust bar up 9 cents to close well at $1.26. couple with high volume this is rather bullish!

It has managed to reclaim it's 20 days moving average at about 1.215 level ,this is rather positive.

It may likely move up to re-conquer 1.33 level. Breaking out with ease + high volume, that may propel to drive the price higher to $1.40 with extension to 1.45 .

NAV of 65.4 cents.
Rolling EPS of 15 cents.
PE of less than 10X
Dividend of about 10 cents.
Yield is 7% which is rather impressive.

Not a call to buy or sell.

Trade/invest base on your own decision.

Please do your own due diligence.

Latest 1Q result for your reference. Gross Profit increased 13% to reach 37.8m. 
Net Profit increase marginally of 1.3% to 12.1m after factoring the foreign exchange loss of 13m..

Hi-P International Limited operates as an integrated contract manufacturer serving the telecommunications, consumer electronics, computing and peripherals, lifestyle, and medical and industrial devices industries. The company operates through three segments: Precision Plastic Injection Molding; Mold Design and Fabrication; and Provision of Sub-Product Assembly and Full-Product Assembly Services. It manufactures and sells molds and special tools, related housing appliance plastic components and equipment, and water treatment equipment; plastic components and plastic product modules; mold base and components; electric components and electronic communication equipment; in-mold decoration lenses; precision stamped metal components and precision tools; and metal and non-metal stampings, as well as provides spray painting, engineering support, maintenance, and technology consultation services. In addition, the company engages in the manufacture, wholesale, import and export, and sale of electronic telecommunication devices, housing appliances, automated equipment, and related components. Further, it manufactures and sells trays, mobile phones, telecommunication products, digital cameras and related electronic products, and electric toothbrushes; assembles coffee machines and parts, as well as provides related maintenance and after-sales services; and offers investment and management consulting services. Additionally, the company engages in the assembly and provision of ancillary value-added services, primarily surface finishing services. It has operations primarily in the People's Republic of China, Singapore, Malaysia, Thailand, Europe, the United States, the rest of Americas, and internationally. The company was founded in 1980 and is headquartered in Singapore.

Yanlord Land

From TA point of view, it is on a Downtrend mode.
Looks rather bearish as the current price of $1.49 is trading below it's 20 , 50, 100 and 200 days moving average .

The recent low of $1.46 must hold, if not, it may likely slide further down towards 1.40/1.38.

I think I would wait for a lower price at $1.42 & below before deciding the next course of action.

Not a call to buy or sell.

Trade/invest base on your own decision.

May 2018:
Yanlord - These are my thoughts on Yanlord Land.

NAV $2.252 PE of 5.735x dividend of 6.8 cents.XD 18th May

Yield is about 4%

Current price $1.67

YANLORD PROFIT FOR THE PERIOD RISES 22.4% TO RMB1.796 BILLION

 Revenue in 1Q 2018 rose 13.7% to RMB7.188 billion on higher average selling price (“ASP”) achieved. Underscored by the continued delivery of higher grossprofit-margin projects across the Group’s core markets, gross profit in 1Q 2018 rose 28.1% to RMB4.004 billion while gross profit margin expanded to 55.7% in 1Q 2018 compared to 49.5% in 1Q 2017.




 Healthy market sentiments in the PRC propelled the Group’s pre-sale accumulation in 1Q 2018. Accumulated pre-sale pending recognition as at 31 March 2018 was RMB18.197 billion with advances received for pre-sales properties of RMB16.602 billion.

 The Group continues to maintain a healthy financial position with cash and cash equivalents position of RMB16.235 billion as at 31 March 2018.




 Subsequent to the end of the period, Yanlord announced its homecoming to Singapore with the successful joint bid for the freehold Tulip Garden development for S$906.9 million. The Group has also entered into a strategic collaboration with a state owned enterprise to oversee the project management of approximately 1,740 rental housing units in Shanghai.

Yanlord Land is moving towards retaining more properties they have developed for recurring rental income. This should help to stabilize their profitability better over time as property developers tend to experience lumpy revenues and earnings due to the timing of recognition of revenues and earnings on developed properties.


I looked at the growth of Yanlord over the past 6 years period from 2011 to 2017. The revenues have grown at a CAGR of 19.09% over this period.

The operating profits have grown at a CAGR of 23.31% over this period. The diluted EPS have grown at a CAGR of 15.34% over this period.

 The various profit margins have fluctuated through the period under consideration. However, last year 2017 was a good year for Yanlord with high margins property projects locked in their sales and thus the various margins have improved significantly y-o-y.

The challenge is whether such high profit margins done last year can be repeated this year as well or not. They do have many property projects on hand this year and their chairman guided this year they should be able to perform well too with the current growth in the property development industry in China with many cities in China still undergoing development.




Yanlord Land is also moving into more property projects in tier-1 and tier-2 China cities where these projects carry higher profit margins.( quote : jeremyowtaip)

 I shall not look at the cashflows trend as the cashflows can swing between positive and negative in any single year due to the movement of cash according to the amount of cash outflows on properties under development in any year and amount of cash inflows from sales of completed properties which either item could be a huge amount affecting the cashflows significantly in any single year.

 This makes determining an accurate growth for the cashflows difficult. However, generally speaking, the amounts of net operating cashflows and free cashflows have grown over this period. Yanlord had a debt to equity ratio of 70% in 2011. Their debt to equity ratio is 105% in 2017.

 They seem to have geared up for last year. However, if we look at their net debt to equity ratio, it was 52% in 2011 and in 2017 was 51%. They seem to have maintained their net debt to equity ratio at about this level. Perhaps this is a good safe level to them to maintain their net debt to equity with some cash and equivalents on hand despite taking on a higher debt position in 2017 for expansion and growth.




 The average asset turnover for Yanlord has improved from about 0.19 to 0.26 over this past 6 years period. The returns on assets were maintained at slightly over 3%, returns on equity improved from 10 over % to 14 over % while returns on invested capital have improved marginally from slightly over 6% to now about close to 7%.

 If we just look at Yanlord alone as it is, it seems that it has performed well over the past 6 years with double digits CAGR in revenues, operating profits and diluted EPS. I shall compare Yanlord with two other China property developers on some of the metrics

I use above over the same past 6 years period.




 The two other China property developers are China Vanke and China Overseas Land & Investment Ltd.

 Selected comparison metrics between Yanlord Land (YL), China Vanke (CV) and China Overseas Land & Investment Ltd (COLI)

Revenue CAGR = YL (19.09%), CV (22.53%), COLI (20.77%)

 Operating profit CAGR = YL (23.31%), CV (20.54%), COLI (16.25%)

 Diluted EPS CAGR = YL (15.34%), CV (19.3%), COLI (13.76%)

 Debt to equity ratio (FY17) = YL (105%), CV (102%),




COLI (65%) Average asset turnover (FY17) = YL (0.26), CV (0.24), COLI (0.27)

 ROA (FY17) = YL (3.22%), CV (2.81%), COLI (6.7%)

 ROE (FY17) = YL (14.69%), CV (22.8%), COLl (16.71%)

 ROIC (FY17) = YL (6.67%), CV (10.2%), COLI (9.91%)




 Yanlord Land seems to stack up well against the other two well known reputable China developers even though the former maybe much smaller in scale of operations. The only thing Yanlord Land seems to fall behind is the return on equity and return on invested capital.




However, Yanlord Land has improved it's returns on equity and returns on invested capital over the past few years. This seems to suggest it has shown an ability to generate improving returns over the past few years to catch up with other larger competitors in China. In conclusion, I find Yanlord Land is worth considering as an investment in China property industry.

The growth in China property market seems evident as these few China property developers are enjoying good double digits CAGR in their profitability and generating good returns. Based on last closed share price of $1.68, Yanlord Land is now at EV/EBITDA of about 3.6x which is undervalued (Any value 5x and below is cheaply attractive).




 It's P/B ratio is about 0.7. Since Yanlord Land has already improved it's ROE from single digits to above 10% since 2016 and 2017, trading at a P/B ratio of 0.7 is pricing it too cheap. Therefore, I think at current share price of $1.68, Yanlord Land could be viewed as undervalue. This is especially true should it continue to produce a good set of results this year same as last year too. Not a call to buy or sell. Please do your own due diligence.




 Yanlord Land Group Limited, an investment holding company, engages in the property development activities in the People's Republic of China. The company operates through Property Development, Property Investment, and Others segments. It develops residential properties comprising apartment complexes and villas; and commercial and integrated properties, such as offices, serviced apartments, and shopping malls for sale and lease.




The company also offers property management services for residential properties, including security, building, equipment maintenance and repair, facilities management, child-care, and other ancillary services, as well as organizes social and residential community functions. In addition, it is involved in the management of hotels and serviced apartments; trading of building materials and hardware; operation of restaurants and Kindergarten; and installation, maintenance, sale, and repair of elevators. Further, the company engages in the provision of landscaping and gardening, management and investment, city redevelopment, food and beverage, tourism investment, asset management, leisure and fitness, education and training, and construction engineering services, as well as tourism and travel services. Yanlord Land Group Limited was founded in 1993 and is based in Singapore.

DBS

Looks like today it may go up yo cover up the Gap at about $26.00 .

Dow rallies more than 300 points as banks post best day since late March Bank stocks rose at least 2.5 percent, led by Bank of America, Citigroup, Goldman Sachs and J.P. Morgan Chase. The SPDR S&P Bank ETF (KBE) rose 2.3 percent and posted its best day since March 26, when it gained 3.3 percent. Equities also got a boost from stronger-than-expected jobs data released last week, which diverted attention away from a global trade war.(cnbc.com)

 Short term wise,I think it may attempt to move up towards $26.50 level.

8th July
 Looks like we may see a Gap Up/rebound situation after the selling down last Friday!

Likely to retest $26.00. Crossing over with ease + good volume that may continue to drive the price higher to 26.43 level.

Dividend of $1.20 is giving a yield of 4+% looks quite good .

Not s call to buy or sell.
Pls dyodd.


Downtrend prevail!
Looks like it may likely breaking down the recent low of $26.31 and slide down towards $26.00 which is also coincide with it's 200 days moving average.

Failing to hold on to this support level would be super Bearish!
I think
price could  see further selling down pressure and continue to slide down towards 25.00 then 24.50 and below .

14 June 2018
TA wise Looks rather bearish !
It has broken down 100 days moving average and continue to slide further down with high volume.

Short term wise, I think it may continue to go down to revisit 26.28 then $24.95 with extension to 24.38.

Not a call to buy or sell.

I think similar chart patterns are also reflected on the other 2 local bank counters.

Please do your own due diligence.

The 3 local bank counters are having quite similar chart patterns as shown on the daily candlestick chart patterns.

All 3 counter current price are trading below its 20, 50 & 100 days Moving average.
Looks rather bearish!

OCBC Bank:

It has experienced a Gap down on 30th May 2018 from the previous closing price of $12.99 to touch the low of $12.51 before manage to close slightly higher at $12.66 price level.

The current price of $12.53 is staying slightly above its 200 days moving average at about $12.36 level. Breaking down of $12.36 level , it would be super bearish and may likely continue to slide down to test $12.25 then $11.90 with extension to $11.40.

DBS :

Similarly for DBS , it is having a Gap down scenario on 30th May 2018 whereby the price went down to touch the low of $28.140 before closing slightly higher at $28.23 level as compare to previous day  closing price of $29.15 level.

Looks rather bearish and it may continue to go lower to test $28.14 then $$27.60 with extension to $26.30.

UOB:

It has gone down to touch the low of $28.16 before closing slightly higher at $28.36 price level as compare to the previous day closing price of $29.29 .

This is rather bearish and the price may likely to go lower to test $28.00 then $27.45 with extension to $26.00.

Not a call to buy or sell.

Please do your own due diligence.


Some discussion about the recent selling down:

Any reason u can think of to cause these drags on all 3 banks after reporting excellent results???

• Like
 
• Reply
 
• about 8 hours ago

Sporeshare

Reply to @AllenYip : I think is kind of selling after result . Moreover bank counter are trading at P/B 1.4-1.6 seems expensive. The correction is healthy.. I think any short rebound due to Dow overnight +219 it might be a GD opportunity to exit /lock in profit. Pls dyodd

• Like
 
• Reply
 
• 17 minutes ago

limchris8

Reply to @AllenYip : The answer is simple. Fund managers pushing up bank stocks or any stock prices are not here for charity. They would not wait for ordinary investors to take profit before them. As bank stocks reached few 52-week highs, it was natural to take profit thereby causing corrections. Besides, there are too many uncertainties/volatility this year. It is wise to take money off the table. With nice capital gains & dividend, why shouldn't they take profit? Furthermore, the reporting season for banks is over. Wait till the next reporting season, the games will repeat again..

Oversea-Chinese Banking Corporation Limited provides financial services in Singapore, Malaysia, Indonesia, Greater China, other parts of the Asia Pacific, and internationally. The company's Global Consumer/Private Banking segment provides a range of products and services to individuals, including checking accounts, and savings and fixed deposits; housing and other personal loans; credit cards; wealth management products consisting of unit trusts, bancassurance products, and structured deposits; and brokerage services. This segment also offers investment advice and portfolio management, estate and trust planning, and wealth structuring services for high net worth individuals. Its Global Corporate/Investment Banking segment provides project financing, overdrafts, trade financing, and deposit accounts; fee-based services, such as cash management and custodian services; and investment banking services, including financing solutions, syndicated loans and advisory services, corporate finance services for initial public offerings, secondary fund-raising, and takeovers and mergers, as well as customized and structured equity-linked financing services. It serves corporates, public sector, and small and medium enterprises. The company's Global Treasury and Markets segment is involved in the foreign exchange activities, money market operations, and fixed income and derivatives trading, as well as provision of structured treasury products and financial solutions. Its OCBC Wing Hang segment offers commercial banking, consumer financing, share brokerage, and insurance services. The company’s Insurance segment provides fund management services, and life and general insurance products. Its Others segment is involved in property and investment holding activities. As of May 7, 2018, the company operated a network of 590 branches and representative offices in 18 countries and regions. Oversea-Chinese Banking Corporation Limited was founded in 1912 and is headquartered in Singapore.

 DBS Group Holdings Ltd, an investment holding company, provides commercial banking and financial services in Singapore, Hong Kong, rest of Greater China, South and Southeast Asia, and internationally. It operates through Consumer Banking/Wealth Management, Institutional Banking, Treasury Markets, and Others segments. The Consumer Banking/Wealth Management segment offers banking and related financial services, including current and savings accounts, fixed deposits, loans and home finance, cards, payments, investment, and insurance products for individual customers. The Institutional Banking segment provides financial services and products for bank and non-bank financial institutions, government-linked companies, large corporates, and small and medium sized businesses. Its products and services comprise short-term working capital financing and specialized lending; cash management, trade finance, and securities and fiduciary services; treasury and markets products; and corporate finance and advisory banking, as well as capital markets solutions. The Treasury Markets segment is involved in structuring, market-making, and trading in a range of treasury products. The Others segment offers stock broking and Islamic banking services. The company operates approximately 280 branches across 18 markets. DBS Group Holdings Ltd was founded in 1968 and is headquartered in Singapore.

 United Overseas Bank Limited provides financial products and services. The company’s Group Retail segment provides deposits, insurance, card, wealth management, investment, and loan and trade financing products for personal and small enterprise customers. Its Group Wholesale Banking segment provides financing, trade, cash management, capital markets solutions, and advisory and treasury products and services. The company’s Global Markets segment offers foreign exchange, interest rate, credit, commodities, equities, and structured investment products; and manages funds and liquidity. Its Other segment provides investment management, property, and insurance services. The company has a network of approximately 500 offices in 19 countries and territories in the Asia Pacific, Europe, and North America. The company was formerly known as United Chinese Bank and changed its name to United Overseas Bank Limited in 1965. United Overseas Bank Limited was founded in 1935 and is headquartered in Singapore.

YZJ Ship SGD

Finally, we are able to see a nice bullish bar today , up 3 cents to 88 cents + high bolume, looks rather positive!

With Dow trading +200 points , it seems that trade war has been temporary dissipated!

If the market sentiment improve, we may likely see YZJ moving up to retest 89.5 cents . Breaking out with ease + high volume that may propel to drive the price higher to 95 with extension to $1.00.

Not a call to buy or sell.

NAV of $1.29.

Dividend of 4.5 cents

The company has been aggressively buying back share from 86 to $1.00+. Looks like value is surfacing! 

Yangzijiang Shipbuilding (Holdings) Ltd., an investment holding company, operates in the shipbuilding activities. The company operates through Shipbuilding, Investments, Trading, and Others segments. It produces a range of commercial vessels, such as containerships, dry bulk carriers, oil tankers, and liquefied natural gas (LNG) carriers. The company also engages in the production and processing of steel structures. In addition, it facilitates the sale and export of ships for the ship builder; trades in ship related equipment and shipbuilding related materials/supplies; provides microcredit to enterprises and individuals; invests in held-to-maturity financial assets; and supplies marine equipment and materials. Further, the company is involved in the ship demolition and vessel owning activities. It primarily serves ship owners in the United States, Canada, the United Kingdom, Germany, France, Greece, Norway, Argentina, Turkey, Bulgaria, Poland, Australia, Japan, South Korea, Singapore, India, Thailand, Bangladesh, Mainland China, Hong Kong, Taiwan, etc. The company was founded in 1956 and is headquartered in Jingjiang, China.