2nd quarter result is out .
Looks quite a good set of financial numbers.
Dividend increase from 0.25 to 0.3 cents.
NAV of 21 cents.
Looks like price may rise back to 19 then 20 cents.
Zero debts.
Net cash per share is about 9.8 cents .
Revenue For the three months ended 30 June 2018 (“2Q18”), the Group registered revenue of S$50.8 million, up 7.4% from S$47.3 million in 2Q17. This was led by higher sales from the Group’s operations in Singapore and Malaysia.
On a quarter-on-quarter basis, Group revenue was also approximately 9.6% higher than S$46.4 million recorded in 1Q18. For the six months ended 30 June 2018 (“1H18”), Group revenue improved 5.6% to S$97.2 million from S$92.0 million in 1H17. The increase in revenue was attributed mainly to the Singapore and Malaysia segments which registered higher sales in 1H18. Sales generated from the Singapore operations in 1H18 gained 15.6% to S$22.8 million from S$19.7 million in 1H17, driven mainly by higher sales of products in the printing & imaging and automotive segments.
The Malaysia segment also recorded sales growth of 21.0% to S$18.5 million in 1H18 from S$15.3 million in 1H17 on the back of higher orders for products in the consumer and medical segments. On the other hand, sales from the China operations in 1H18 dipped marginally by 2.0% to S$55.9 million from S$57.0 million in 1H17 due mainly to weaker sales of networking & communications products. As a result, the revenue contributions from Singapore and Malaysia operations in 1H18 expanded to 23.4% and 19.1% compared to 21.4% and 16.7% respectively in 1H17. China segment accounted for a lower 57.5% of Group revenue in 1H18 as compared to 61.9% in 1H17.
Gross Profit Gross profit in 2Q18 climbed 17.1% to S$8.6 million from S$7.3 million in 2Q17. Correspondingly, gross profit margin widened to 16.9% from 15.5% in 2Q17. For 1H18, the Group’s gross profit margin also improved slightly to 16.5% from 16.1% in 1H17 notwithstanding selling price pressure in the industry. The increase in gross profit margin was attributed to the Group’s continual efforts to improve its production processes through lean operations and greater automation to achieve better cost and operational efficiencies.
Other Income Other income in 2Q18 and 1H18 of S$1.8 million and S$3.6 million respectively were stable when compared to 2Q17 and 1H17.
Profit Before Income Tax
Group profit before income tax increased significantly to S$5.2 million in 2Q18 from S$1.5 million in 2Q17 on the back of higher revenue and gross profit, as well as other operating income. As a result of the stronger performance in 2Q18, the Group’s profit before income tax in 1H18 more than doubled to S$6.2 million from S$2.8 million in 1H17. The Group’s profit before tax excluding foreign exchange impact and share of results of joint venture (“operating profit”) increased to S$3.1 million in 2Q18 from S$2.5 million in 2Q17. Operating profit of S$5.6 million in 1H18 was also higher than S$5.3 million in 1H17.
s within the Group. Net Profit Attributable to Owners of the Company The Group recorded a substantial increase in net profit attributable to owners of the Company to S$4.0 million in 2Q18 million from S$0.7 million in 2Q17. Net profit attributable to owners of the Company for 1H18 also climbed by 262.7% to S$4.6 million from S$1.3 million previously.
Tuesday, August 14, 2018
Monday, August 13, 2018
AEM
Looks like we can see a sigh of relief as most of the Tech counters has been overly sold down and is fighting to stabilise at the current price range.
AEM will need to overcome the immediate resistance at 72.5 cents . Breaking our of 72.5 with ease _ high volume, that may likely drive the price higher towards 76.5 cents .
The next hurdle will have to overcome the 80 cents barriers in order to rise to re-challenge 85 cents level.
Not a call to buy or sell.
Please do your own due diligence.
AEM Holdings Ltd, an investment holding company, provides solutions in equipment systems; and precision components and related manufacturing services for various industries. It operates through Equipment Systems Solutions and Precision Component Solutions segments. The company provides high density modular test handlers, wafer handling systems, hot spot testers, and smartcard backend handlers for use in semiconductor, solar cell, and smartcard manufacturing facilities, as well as related tooling parts; and designs, develops, and manufactures precision engineering products, such as test sockets, device change kits, stiffeners, golden units, holding jigs, preventive maintenance kits, and precision mechanical assembly modules for use in the electronic, life science, instrumentation, and aerospace industries, as well as offers engineering services. It also engages in the research, development, and production of communications and industrial test solutions. The company offers its products through a network of sales offices, associates, and distributors in Asia, Europe, and the United States. AEM Holdings Ltd is headquartered in Singapore.
AEM will need to overcome the immediate resistance at 72.5 cents . Breaking our of 72.5 with ease _ high volume, that may likely drive the price higher towards 76.5 cents .
The next hurdle will have to overcome the 80 cents barriers in order to rise to re-challenge 85 cents level.
Not a call to buy or sell.
Please do your own due diligence.
AEM Holdings Ltd, an investment holding company, provides solutions in equipment systems; and precision components and related manufacturing services for various industries. It operates through Equipment Systems Solutions and Precision Component Solutions segments. The company provides high density modular test handlers, wafer handling systems, hot spot testers, and smartcard backend handlers for use in semiconductor, solar cell, and smartcard manufacturing facilities, as well as related tooling parts; and designs, develops, and manufactures precision engineering products, such as test sockets, device change kits, stiffeners, golden units, holding jigs, preventive maintenance kits, and precision mechanical assembly modules for use in the electronic, life science, instrumentation, and aerospace industries, as well as offers engineering services. It also engages in the research, development, and production of communications and industrial test solutions. The company offers its products through a network of sales offices, associates, and distributors in Asia, Europe, and the United States. AEM Holdings Ltd is headquartered in Singapore.
Ezion
The current price of 7.6 cents is trading at a steep discount as compare to the new issued share price of about 21 cents.
The company had just swing back to profit for 2nd quarter , looks like price may likely move up to retest 8 cents then 8.4 cents.
Breaking out of 8.4 cents with ease + good volume that may propel to drive the price Higher towards 9 then 9.6 cents
Not a call to buy or sell.
Please do your own due diligence.
the proposed allotment and issue by the Company of 96,153,000 new ordinary shares in the capital of the Company (the “Shares”) (the “Subscription Shares”) to the Subscriber at an issue price of S$0.208 per Subscription Share (the “Proposed Subscription”); and
STATEMENT REVIEW 2Q18 vs 2Q17 The Group's revenue for the three months ended 30 June 2018 ("2Q18") decreased by US$44.3 million (65.7%) to US$23.1 million as compared to the corresponding three months ended 30 June 2017 ("2Q17"). The decrease in revenue was mainly due to: (i) (ii) (iii) (iv) continued delays in re-deployment of the Group's liftboats due to working capital constraints pending finalisation of the refinancing exercise on bank borrowings; drop in utilisation rate of jack-up rigs and not recognising revenue when the Group has assessed that certain customers are not able to meet existing charter obligations; lower utilisation rates of the Group's tugs and barges; and overall reduction in charter rates across the Group’s fleet of vessels. The cost of sales and servicing for 2Q18 decreased by US$26.7 million (43.9%) to US$34.0 million as compared to 2Q17, largely due to lower depreciation expenses on vessels. As a result of the above, the Group recorded a gross loss of US$10.9 million in 2Q18 from a gross profit of US$6.7 million in 2Q17. The increase in other income in 2Q18 as compared to 2Q17 was mainly due to the strengthening of the United States Dollar against the Singapore Dollar as at 30 June 2018 and this resulted in foreign exchange gain on the Group's Notes Payable. The decrease in other operating expenses in 2Q18 as compared to 2Q17 was due to exchange loss incurred in 2Q17. The finance gain in 2Q18 as compared to finance costs in 2Q17 was mainly due to the fair value adjustments arising from the refinancing exercise recorded in 2Q18.
The lower share of associates and jointly controlled entities' losses in 2Q18 as compared to 2Q17 was mainly due to lower operating losses from the Group's joint ventures and associates. The Group generated profit before income tax of US$87.6 million in 2Q18 as a result of all the above. Charter income derived from Singapore flagged vessels are exempted from tax under Section 13A of the Income Tax Act of Singapore. Current period income tax expense of US$0.7 million relates to the corporate tax expense and withholding tax expense incurred by vessels operating in certain overseas waters.
The company had just swing back to profit for 2nd quarter , looks like price may likely move up to retest 8 cents then 8.4 cents.
Breaking out of 8.4 cents with ease + good volume that may propel to drive the price Higher towards 9 then 9.6 cents
Not a call to buy or sell.
Please do your own due diligence.
the proposed allotment and issue by the Company of 96,153,000 new ordinary shares in the capital of the Company (the “Shares”) (the “Subscription Shares”) to the Subscriber at an issue price of S$0.208 per Subscription Share (the “Proposed Subscription”); and
STATEMENT REVIEW 2Q18 vs 2Q17 The Group's revenue for the three months ended 30 June 2018 ("2Q18") decreased by US$44.3 million (65.7%) to US$23.1 million as compared to the corresponding three months ended 30 June 2017 ("2Q17"). The decrease in revenue was mainly due to: (i) (ii) (iii) (iv) continued delays in re-deployment of the Group's liftboats due to working capital constraints pending finalisation of the refinancing exercise on bank borrowings; drop in utilisation rate of jack-up rigs and not recognising revenue when the Group has assessed that certain customers are not able to meet existing charter obligations; lower utilisation rates of the Group's tugs and barges; and overall reduction in charter rates across the Group’s fleet of vessels. The cost of sales and servicing for 2Q18 decreased by US$26.7 million (43.9%) to US$34.0 million as compared to 2Q17, largely due to lower depreciation expenses on vessels. As a result of the above, the Group recorded a gross loss of US$10.9 million in 2Q18 from a gross profit of US$6.7 million in 2Q17. The increase in other income in 2Q18 as compared to 2Q17 was mainly due to the strengthening of the United States Dollar against the Singapore Dollar as at 30 June 2018 and this resulted in foreign exchange gain on the Group's Notes Payable. The decrease in other operating expenses in 2Q18 as compared to 2Q17 was due to exchange loss incurred in 2Q17. The finance gain in 2Q18 as compared to finance costs in 2Q17 was mainly due to the fair value adjustments arising from the refinancing exercise recorded in 2Q18.
The lower share of associates and jointly controlled entities' losses in 2Q18 as compared to 2Q17 was mainly due to lower operating losses from the Group's joint ventures and associates. The Group generated profit before income tax of US$87.6 million in 2Q18 as a result of all the above. Charter income derived from Singapore flagged vessels are exempted from tax under Section 13A of the Income Tax Act of Singapore. Current period income tax expense of US$0.7 million relates to the corporate tax expense and withholding tax expense incurred by vessels operating in certain overseas waters.
Sunday, August 12, 2018
Hi-P
2nd quarter Net profit is down 18.7% to 12.27m.
Half year Total Net profit is down 4.9% to $22.23m.
EPS for 2Q is down 18.7% to 1.57 cents . Half year EPS is lowered at 2.76 cents .
Let's presume Full year EPS of 2.76 x 2.5 = 6.9 cents .
Current price is 99 cents , therefore, PE is about 14.35x.
To me , it seems a bit ecpenexpe at 99 cents. Perhaps 70 cents at PE 10x which is about the fair value .
Not a call to buy or sell.
Please do you own Due diligence.
TA wise, it has broken down the recent low of $1.00 level which is deemed as rather bearish!
The current price of 99 cents would it continues to go lower or bounce-off to trade above the resistance level at $1.00.
Would leave it to Mr.Market to tell us the direction going forward.
Half year Total Net profit is down 4.9% to $22.23m.
EPS for 2Q is down 18.7% to 1.57 cents . Half year EPS is lowered at 2.76 cents .
Let's presume Full year EPS of 2.76 x 2.5 = 6.9 cents .
Current price is 99 cents , therefore, PE is about 14.35x.
To me , it seems a bit ecpenexpe at 99 cents. Perhaps 70 cents at PE 10x which is about the fair value .
Not a call to buy or sell.
Please do you own Due diligence.
TA wise, it has broken down the recent low of $1.00 level which is deemed as rather bearish!
The current price of 99 cents would it continues to go lower or bounce-off to trade above the resistance level at $1.00.
Would leave it to Mr.Market to tell us the direction going forward.
Saturday, August 11, 2018
SingTel
From TA point of view, it is now floating at the support level of $3.14. if it is able to hold up well, we may see it stabilize and slowly move up from here.
Failing which, it may move down to retest $3.08 then $3.02.
Yield is pretty solid at 5.5% for current price at $3.14.
The company has reported 1st quarter net profit of $832m, looks like they are able to mainfmai in paying the yearly dividend of 17.5 cents.
Not a call to buy or sell.
Please do your own due diligence.
1Q2018 result is out.
Looks like quite a decent set of result !
Singtel posts resilient results with strong growth in Australia Quarter ended 30 June 2018
Operating revenue stable at S$4.13 billion, up 2% in constant currency terms
Underlying net profit fell 19% to S$733 million due to lower associates’ contributions, higher withholding taxes on dividend receipts and adverse currency movements
Net profit down 7% to S$832 million, down 4% in constant currency terms
Free cash flow up 13% to S$1.47 billion on higher dividends from associates
Singapore, 8 August 2018 – Singtel’s first quarter results were resilient despite keen competition. Australia performed strongly, registering higher customer growth across both the consumer and enterprise segments, while mobile data remained a key growth driver. Operating revenue was up 2% and EBITDA was stable in constant currency terms. Underlying net profit fell 19% due to weaker results from Airtel and Telkomsel, reduced economic interest in NetLink NBN Trust 1 , an increase in withholding taxes from higher dividends and adverse currency movements. Net profit declined 7% to S$832 million and would have been down 4% in constant currency terms.
“This quarter’s results reflect the resilience of our core business against intense competition and increasing business headwinds. The Group continued to record data growth and Optus made gains in both the consumer and enterprise markets, bolstered by our quality networks, differentiated content and comprehensive ICT capabilities. Our overall focus on digitalisation and automation has also improved customer engagement and delivered productivity gains and cost savings,” Ms Chua Sock Koong, Singtel Group CEO, said. “We start the year with 23% of Group revenue from ICT and digital businesses and we expect contributions from these businesses to rise further as we continue to build capabilities in these new growth areas. Our digital marketing arm Amobee recently acquired the assets of Videology, an ad-tech platform provider for advanced TV and video advertising.”
Mobile data continued to grow strongly for the Group’s regional associates. However, in the key markets of India and Indonesia, intense competition faced by Airtel and Telkomsel led to a decline in regional associates’ overall profits. Airtel’s results were also affected by mandated cuts in mobile termination rates in India although Africa saw continued growth momentum. In July, Airtel announced plans to list its African unit, Airtel Africa, and started preparations. In Indonesia, Telkomsel’s earnings were impacted by intense price competition particularly during the mandatory registration of prepaid SIM cards. This exercise has since been completed and the pricing situation has improved towards end June and after the Lebaran national holiday. In the Group’s other two markets, AIS and Globe continued to perform
strongly. AIS registered robust growth from revenue improvement and cost control. Globe also posted strong earnings growth, driven by strong data revenue growth and cost management. Ms Chua said, “While competition remains keen in Indonesia and particularly India, both Telkomsel and Airtel have nonetheless gained market share. We have started to see revenue stabilise on a sequential quarter basis for India. As leading operators in their markets, all our regional associates continue to ride the growth in data and we are positive on their long-term growth potential.
As a Group, we continue to invest in content, networks and spectrum to maintain our lead in customer experience and better engage our more than 730 million customers across 21 countries.” The Group has established a 5G Centre of Excellence in Singapore, and aims to prepare for the communications ecosystem for 5G services as standards are progressively introduced. Singtel will launch Singapore’s first 5G pilot network later this year while Optus and Globe will introduce fixed wireless solutions for homes in early and mid-2019 respectively. To create new forms of digital content for customers across its footprint in the Asia Pacific region, the Group also announced the launch of PVP eSports Championship, a multi-title and regional league which marks its first foray into the fast-growing esports and gaming market. The Group’s cash position remains strong. Free cash flow rose 13% to S$1.47 billion on higher dividends from associates and lower capital expenditure by Optus.
Failing which, it may move down to retest $3.08 then $3.02.
Yield is pretty solid at 5.5% for current price at $3.14.
The company has reported 1st quarter net profit of $832m, looks like they are able to mainfmai in paying the yearly dividend of 17.5 cents.
Not a call to buy or sell.
Please do your own due diligence.
1Q2018 result is out.
Looks like quite a decent set of result !
Singtel posts resilient results with strong growth in Australia Quarter ended 30 June 2018
Operating revenue stable at S$4.13 billion, up 2% in constant currency terms
Underlying net profit fell 19% to S$733 million due to lower associates’ contributions, higher withholding taxes on dividend receipts and adverse currency movements
Net profit down 7% to S$832 million, down 4% in constant currency terms
Free cash flow up 13% to S$1.47 billion on higher dividends from associates
Singapore, 8 August 2018 – Singtel’s first quarter results were resilient despite keen competition. Australia performed strongly, registering higher customer growth across both the consumer and enterprise segments, while mobile data remained a key growth driver. Operating revenue was up 2% and EBITDA was stable in constant currency terms. Underlying net profit fell 19% due to weaker results from Airtel and Telkomsel, reduced economic interest in NetLink NBN Trust 1 , an increase in withholding taxes from higher dividends and adverse currency movements. Net profit declined 7% to S$832 million and would have been down 4% in constant currency terms.
“This quarter’s results reflect the resilience of our core business against intense competition and increasing business headwinds. The Group continued to record data growth and Optus made gains in both the consumer and enterprise markets, bolstered by our quality networks, differentiated content and comprehensive ICT capabilities. Our overall focus on digitalisation and automation has also improved customer engagement and delivered productivity gains and cost savings,” Ms Chua Sock Koong, Singtel Group CEO, said. “We start the year with 23% of Group revenue from ICT and digital businesses and we expect contributions from these businesses to rise further as we continue to build capabilities in these new growth areas. Our digital marketing arm Amobee recently acquired the assets of Videology, an ad-tech platform provider for advanced TV and video advertising.”
Mobile data continued to grow strongly for the Group’s regional associates. However, in the key markets of India and Indonesia, intense competition faced by Airtel and Telkomsel led to a decline in regional associates’ overall profits. Airtel’s results were also affected by mandated cuts in mobile termination rates in India although Africa saw continued growth momentum. In July, Airtel announced plans to list its African unit, Airtel Africa, and started preparations. In Indonesia, Telkomsel’s earnings were impacted by intense price competition particularly during the mandatory registration of prepaid SIM cards. This exercise has since been completed and the pricing situation has improved towards end June and after the Lebaran national holiday. In the Group’s other two markets, AIS and Globe continued to perform
strongly. AIS registered robust growth from revenue improvement and cost control. Globe also posted strong earnings growth, driven by strong data revenue growth and cost management. Ms Chua said, “While competition remains keen in Indonesia and particularly India, both Telkomsel and Airtel have nonetheless gained market share. We have started to see revenue stabilise on a sequential quarter basis for India. As leading operators in their markets, all our regional associates continue to ride the growth in data and we are positive on their long-term growth potential.
As a Group, we continue to invest in content, networks and spectrum to maintain our lead in customer experience and better engage our more than 730 million customers across 21 countries.” The Group has established a 5G Centre of Excellence in Singapore, and aims to prepare for the communications ecosystem for 5G services as standards are progressively introduced. Singtel will launch Singapore’s first 5G pilot network later this year while Optus and Globe will introduce fixed wireless solutions for homes in early and mid-2019 respectively. To create new forms of digital content for customers across its footprint in the Asia Pacific region, the Group also announced the launch of PVP eSports Championship, a multi-title and regional league which marks its first foray into the fast-growing esports and gaming market. The Group’s cash position remains strong. Free cash flow rose 13% to S$1.47 billion on higher dividends from associates and lower capital expenditure by Optus.
Friday, August 10, 2018
Food Empire
Food Empire’s 1H2018 revenue jumps 12.9% with higher gross margin of 39.5%
Increase in revenue and gross profit to US$141.5 million and US$55.9 million respectively driven by sales volume growth in the Group’s key markets
Net profit after tax was flat at US$9.4 million due to higher selling and administrative expenses, higher manpower cost and exchange loss Group to continue its focus on new product launches and market diversification efforts going forward .
Gross profit was US$55.9 million, up US$7.5 million or 15.5% as compared to prior corresponding period. Similarly, gross profit margin improved by 90 bps, from 38.6% in 1H2017 to 39.5% in 1H2018.
In line with the growth in sales, selling and distribution expenses also increased by US$5.0 million or 26.2% from US$19.3 million in 1H2017 to US$24.3 million in 1H2018.
This was mainly attributable to higher advertising and promotion expenses coupled with higher manpower cost.
During the period under review, the Group recorded a foreign exchange loss of US$1.6 million in 1H2018 as compared to a foreign exchange gain of US$1.0 million in 1H2017.
As the Group is economically exposed to different markets, it will be affected by the fluctuation in currencies against the US dollar.
Pursuant to the above, the Group‘s net profit after tax for 1H2018 was flat at US$9.4 million. As at 30 June 2018, the Group’s balance sheet remained healthy with cash and cash equivalents amounting to US$41.8 million.
Commenting on the Group’s results, Mr. Tan Wang Cheow, Executive Chairman of Food Empire said, “The Group continues to perform well with growth registered in our major geographical markets of exposure. Going forward, the Group strives to continue with brand building, new product launches and market diversification efforts so as to derive new avenues for top-line growth and secure better value for shareholders.” Outlook Other than product innovations and ongoing promotional activities directed at enhancing brand equity, expansion of markets into new geographical regions outside that of its core operations remains a key focal area for the Group. Specifically in February 2018, the Group announced plans to open its second Instant Coffee processing facility in Andhra Pradesh, India. This venture, with the support of Enterprise Singapore and the Government of Andhra Pradesh, is slated to complete in 2020. Upon commencement, it should provide the Group with further growth prospects. -
Increase in revenue and gross profit to US$141.5 million and US$55.9 million respectively driven by sales volume growth in the Group’s key markets
Net profit after tax was flat at US$9.4 million due to higher selling and administrative expenses, higher manpower cost and exchange loss Group to continue its focus on new product launches and market diversification efforts going forward .
Gross profit was US$55.9 million, up US$7.5 million or 15.5% as compared to prior corresponding period. Similarly, gross profit margin improved by 90 bps, from 38.6% in 1H2017 to 39.5% in 1H2018.
In line with the growth in sales, selling and distribution expenses also increased by US$5.0 million or 26.2% from US$19.3 million in 1H2017 to US$24.3 million in 1H2018.
This was mainly attributable to higher advertising and promotion expenses coupled with higher manpower cost.
During the period under review, the Group recorded a foreign exchange loss of US$1.6 million in 1H2018 as compared to a foreign exchange gain of US$1.0 million in 1H2017.
As the Group is economically exposed to different markets, it will be affected by the fluctuation in currencies against the US dollar.
Pursuant to the above, the Group‘s net profit after tax for 1H2018 was flat at US$9.4 million. As at 30 June 2018, the Group’s balance sheet remained healthy with cash and cash equivalents amounting to US$41.8 million.
Commenting on the Group’s results, Mr. Tan Wang Cheow, Executive Chairman of Food Empire said, “The Group continues to perform well with growth registered in our major geographical markets of exposure. Going forward, the Group strives to continue with brand building, new product launches and market diversification efforts so as to derive new avenues for top-line growth and secure better value for shareholders.” Outlook Other than product innovations and ongoing promotional activities directed at enhancing brand equity, expansion of markets into new geographical regions outside that of its core operations remains a key focal area for the Group. Specifically in February 2018, the Group announced plans to open its second Instant Coffee processing facility in Andhra Pradesh, India. This venture, with the support of Enterprise Singapore and the Government of Andhra Pradesh, is slated to complete in 2020. Upon commencement, it should provide the Group with further growth prospects. -
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