The team from NextInsight should write something on Elite KSB. This company has a consistent record of generating cash along with a decent dividend yield.
It is in the process of selling a property in Benoi for approximately SGD 20-30 million. If it materialises, it should result in a special dividend.
I am sure this good local company deserves some mention here, for the serious investors!
Company sold property at Seneko and will recognise a net gain of SGD 9.8 million. Very likely to distribute part of it. Come one people, cheer this stock! Much better than some of the China stocks that are being promoted.
I am vested. You are right to point that out. But I am willing to hold one more year to see it give 50% more dividends. The company has got good fundamentals although growth might be lacking. Its management although unknown and maybe family run, Elite KSB is definitely more accountable to shareholders and SGX than some of the growth S-Chips. The only problem I see is when feed prices go up or Singapore's population decline.
Elite is giving shareholders a good mid-year hongbao by selling some key subsidiaries. "The Purchase Price is equivalent to 133% of the market capitalisation of the Company on 18 May 2012.... The Purchase Price values the Target Entities at a premium to the median of global peers."
Dear coverup, do you know what is left of Elite after the sale? I wonder what operating business and cashflow is left. Or is it just a shell company largely after that?
Not much is left. What's left is the investment holding company and that piece of property that it tried to sell. The choice for remaining shareholders is to sell in open market or wait for the special dividends. Note that the majority of shares are held within the family and the proposal should go through.
NextInsight
a hub for serious investors
