HRnet Group

FY 2018 NPAT increase 12.9% from 46.4m to 52.4m.

EPS of 4.77 cents .
PE is about 16.8x.
I think fair value is about 86 cents that would be able to achieve an average earnings yield of 5.5% base on EPS of 4.77 cents .
The estimated
earnings yield that is EPS/86 cents = 5.5%.

ROE seems quite good at 14.9%.

FCF seems ok(33m).
FCF is able to cover the dividend payout of 2.8 cents which is about 27.1m.

Cash on hands of 281m with zero debts. The Net cash per share is about 27.7 cents ( 281m / 1,013m share).


Dividend yield is about 3.5% base on current price of 80 cents.
I think is quite a decent dividend yield . Cannot compare to SingTel or APAC that is giving more than 5.5% yield.

Not a call to buy or sell.

Pls dyodd.



13rd Nov 2018 : share buy back at 80.5 to 83 cents for 179,000 share .
https://links.sgx.com/1.0.0/corporate-announcements/9KGFMWCT4V6YWTL4/3757bc4fb130c88e7c37aad414ac926683bf873630916e49b346d228b35ab2a0

9th May 2018
HrNetGroup - just released its 1Q 2018 result, Net profit increase 45.5% from 11.2m to 16.3m. This is rather outstanding. Total Revenue increase 12.3% from 95.3m to 107m. Gross profit increase 11.3% from 32.7m to 36.4m. The Net profit was boosted by an increased of 43.5% of 6m from other income. 

REVIEW OF GROUP’S PERFORMANCE

 Net profit after tax (“NPAT”) increased by 33.5% (S$4.3m) arising from growth in:

 a. Revenue by 12.2% (S$11.6m) and gross profit by 11.3% (S$3.7m):

 i. Flexible staffing: Continued business momentum, particularly in Singapore. Revenue grew by 12.8% (S$9.5m) and gross profit by 15.1% (S$1.7m).





 ii. Professional recruitment: Stellar performance in North Asia, particularly Hong Kong and Mainland China. Revenue grew by 9.9% (S$2.1m) and gross profit by 9.8% (S$2.0m).

b. Other income by S$2.0m mainly due to S$0.8m gain on revaluation of marketable securities, S$0.6m increase in interest income and S$0.5m increase in Singapore government subsidies received.



Offset by other employee benefit expenses that rose by 11.7% (S$2.0m) mainly due to S$1.2m increase in profit-sharing incentives and bonuses that was in tandem with the increase in pre-tax profits, and S$0.6m in share-based payment expenses arising from the 123GROW Plan implemented in June 2017.


 REVIEW OF GROUP’S FINANCIAL POSITION



 The Group’s current assets increased S$15.7m from S$373.2m to S$388.9m, mainly due to:

 a. a net increase in cash and cash equivalents amounting to S$3.0m which was a consequence of S$12.9m cash generated from operating activities, S$8.1m deployed in investing activities (mainly in the purchase of quoted marketable securities), and S$1.4m dividends paid out mainly to non-controlling shareholders;

 b. increase in trade receivables amounting to S$3.4m;

 c. increase in other receivable and prepayments amounting to S$0.9m; and

 d. increase in marketable securities amounting to S$8.4m. The Group’s liabilities decreased by S$1.3m from S$54.7m to S$53.4m mainly due to:



 a. the reduction of other payables and accruals by S$2.9m mainly due to the return of restricted cash to a client for outsourced payroll services; offset by

 b. the increase in income tax payable by S$1.6m.



This is a Net Net Position company whereby its total current assets of 388.9m is greater than its total liabilities of 53.4m..

NAV of 32.9 cents.
EPS of 1.6 cents for 1 Q .
Assuming a full year EPS of 6 cents . PE of 11 x is seems quite under value for the current price of 76 cents.



I think average PE of 16 x should be achievable at 96 cents.

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

Keppel Corp

1Q 2019 result is out! A drop of 40% for net profit to 203m. EPS also drop 40% to 11.2 cents. PE is about 15x. I think price is on the high side .

Divestment gain of 174m.
Net profit of 203m less 174m,  I think actual profit is 29m after less divestment gain.

 Gearing is on a high side at 72%.
9.7b term loans. Let say an interest of 3.5% , estimate is about 339.5m . yearly interest..

 FCF is negative. I think This is really a concern with such a huge amount of negative FCF.

 I think price has run up too much and too fast! Is about time for it to correct !


Let's see how would market reacts come Monday!

 Not a call to buy or sell.

 Pls dyodd.

Hayclon Agri

Chart wise, it has a very impressive running up from 40.5 cents to hit the high of 55 cents! What an explosive movement!

Short term wise, I think is good for it to retrace first to take a breather. If not, it may not likely to sustain with this kind of explosive movement!

 I think the company financial status is still in the red . NAV 47 cents .

 Not a call to buy or sell.

 Pls dyodd.

China Aviation

TA wise, looks bullish!

Short term wise, I think it may likely re-attempt the recent high of 1.47.
Breaking out smoothly plus good volume that may drive the price higher towards 1,57 with extension to 1.65.

China Aviation has delivered a beautiful set of financial results for FY2018 where by Net Profit has increased from US84m to US93.8m. EPS of US0.1091 , S$0.1461.

At current price of 1.44, PE is about 9.85x.
Net cash position with zero debts.

Cash on hands of US357m

Total no. of outstanding shares = 860m.

Net cash per share is about S$0.55.

Healthy FCF of 150m versus the dividend pay out of 29m. Solid FCF!

I think a reasonable PE of 11x which is $1.61 might be fairly achievable.

Dividend of 4.5 cents. XD 3rd May, Pay date 15th May.
Yield of 3.1% looks fairly decent.


Not a call to buy or sell.

Pls dyodd.




China Aviation Oil (Singapore) Corporation Ltd (“CAO” or “the Group”), incorporated in Singapore on 26 May 1993 and listed on the mainboard of the Singapore Exchange Securities Trading Limited since 2001, is the largest physical jet fuel trader in the Asia Pacific region and the key supplier of imported jet fuel to the civil aviation industry of the People’s Republic of China (“PRC”). Headquartered in Singapore with global operations spanning key aviation hubs in Hong Kong SAR, Los Angeles, London with an entrenched presence in China, CAO and its wholly owned subsidiaries (the “Group”), China Aviation Oil (Hong Kong) Company Limited (“CAOHK”), North American Fuel Corporation (“NAFCO”) and China Aviation Fuel (Europe) Limited (“CAFEU”) supply jet fuel to airline companies at airports outside the PRC, including Asia Pacific, North America, Europe and the Middle East. The Group also engages in international trading of jet fuel and other oil products.

SingTel

After hitting the high of 3.20, it is now taking a breather.
So far, the pull back is pretty healthy!

After this break, I think it is looking good to re-attempt 3.17 then 3.20 and surge higher towards 3.28 and above

Not a call to buy or sell.

Pls dyodd.


10th April 2019
Today SingTel powers up and manage to clear 3.11 level smoothly + high volume and close well at 3.17, looks super bullish!

Finally, the bull is back !

Looking good to retest 3.20 then 3.28 level .

Pls dyodd.

TA wise , looks Bullish!
SingTel is slowly edging higher and managed to hit 3.13 before profit taking place and close slightly lower at 3.11.

Looks healthy and it may likely move up to retest the next level that is 3.20


Breaking out of 3.20 with ease plus good volume that may drive the price higher to 3.28-3.30 level.

Not a call to buy or sell.

Pls dyodd.

China Sunsine

Today we have witnessed the nice breakout of 1.17 level and rises higher to close well at 1.20, coupled with high volume this is rather Bullish!

Short term wise, I think it may likely retest 1.21 level. Breaking out of this level with good volume that may drive the price higher to 1.26 with extension to 1.33 .

Not a call to buy or sell.

Pls dyodd.



19th April 2019
Today it had managed to bounce-off from the recent low of 1.09 and close well at 1.14 level, coupled with quite a high volume this is rather bullish!

A bullish pin bar has been reflected on the chart which is rather positive as Bull has managed to take control of the situation.

Short term wise, I think it may likely retest 1.17 level.
Breaking out of 1.17 with ease + good volume that may drive the price higher to 1.21 with extension to 1.29 level.

Not a call to buy or sell.

NAV 0.95
Dividend of 5.5 cents
Yield of 4.82%,looks quite attractive

EPS 26 cents.
PE of 4.38x.
Zero debts
Net cash per share of about 42 cents.



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