Portfolio July 2018

josephyeo
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5 years 4 months ago #24583 by josephyeo

Replied by josephyeo on topic Portfolio July 2018

Sharing my thoughts on Singapore O& G.

Now may be a good time to accumulate this counter.
It is currently trading near its historical 52 weeks/2 year low of 32 cts.
Its 52 weeks high is 48 cts and 2 year high is 74 cts. At 34 cts it is 30%
below its 52 weeks high and 54% below its 2 year high.

At present price of 34 cts, it is trading on a forward p/e of 13.5 which make
it the lowest valued stock within the healthcare sector.

With an estimated annual dividend of 1.8 cts, the dividend yield is 5.2% which
again is among the highest in the healthcare segment.

Company is likely to report an exceptional good set of result current year as its
9 months profit of S$9.1 mil has already exceeded last year full year profit of S$8.5 mil.

Company has no debt. It has cash horde of above S$18 mil.

Presently there is not much interest in the stock n thereby provides an opportunity to buy " cheap" .

Above are just sharing my thoughts and i stand corrected. Pls dyodd.

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josephyeo
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5 years 4 months ago #24584 by josephyeo

Replied by josephyeo on topic Portfolio July 2018

Interim dividend was 0.8 cts. High probability that final dividend would be 1.0 cts
as final dividend is often higher than interim.

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josephyeo
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5 years 4 months ago #24585 by josephyeo

Replied by josephyeo on topic Portfolio July 2018

9M profits S$9.1 mil. I estimate full year profit to be around S$12 mil for 2018

Compare against 2017 profits of S$8.5, the profit improvement would be:

S$12 mil - S$8.5 mil. = S$3.5. An improvement of 41.1%!

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hh488
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5 years 4 months ago #24587 by hh488

Replied by hh488 on topic Portfolio July 2018

Hi Joseph

What up with ISEC? Today dropped to a low of 25 ct! No annoucement from Sgx website.

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josephyeo
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5 years 4 months ago #24589 by josephyeo

Replied by josephyeo on topic Portfolio July 2018

Hi hh488, i do not know of any reason for the drop
in price for ISEC. Its one of the 4 stocks in my portfolio.
I am still holding.

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Rock
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5 years 4 months ago #24595 by Rock

Replied by Rock on topic ISEC HEALTHCARE

ISEC HEALTHCARE:
The 3 days of selling down early this week, total add up to 700k to 800k shares, values less than $200k or 0.15% of issued shares.

ISEC last month announced a set of disappointing 3rd Quarter 2018 result. Revenue growth by 2% and net profit dropped by 17%.
Both the gross profits and gross profit margins for both periods 3Q2017 and 3Q2018 were generally consistent. The Group recorded gross profit and gross profit margin of S$4.65 million and 46.9% respectively in 3Q2018, and S$4.64 million and 47.6% respectively in 3Q2017.

According to 3rd Quarter 2018 reported by ISEC management, fall in profit were due to increase in Administrative Expenses and Income Tax Expense.

Administrative Expenses:
Administrative expenses increased by 16% to S$2.15 million in 3Q2018 mainly due to increased staff related-costs across the Group and other operating expenses attributable to the increased business activities of the Group.

Income Tax Expense:
The effective tax rates of the Group in 3Q2017 and 3Q2018 were 20% and 23% respectively. The statutory corporate tax rates are 17% in Singapore and 24% in Malaysia.

1H2018 management had increased Int. dividend from 0.5 cents to 0.78 cents which is 94% of the 1st half profits. Last year total dividend of 1.2 cents was 78% of the profits. Management must be confidence of the company future business growth! After all ISEC business are Asset-light, strong cash flow business model. I will wait for 4Q2018 result to confirm the direction of ISEC performance.

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