Technics TDRs continue to cheong - now at NTD15.60, up 2%, the equivalent in SGD being 1.36.
In SG, the stock is only $1.04, for a trailing 8.4X PE. The dividend yield is what helps cos Technics has been paying good dividends. The trailing yield is 16% but I dont think it is sustainable. A lower figure - even at 8% - would still make the stock attractive, provided the stock value doesnt correct and erase the dividend coming in.
YOu know what I mean.
Technics secures two additional contracts worth a total of S$13.1 million
• The first involves its second contract in the Russian Federation which is for the provision of equipment for modification of Jack-up Rig “Murmanskaya”
• The second involves Gas Compressor Packages for LNG Regasification Project for a Malaysian end-user.
Strong share buyback in the past 2 days makes me wonder if the liquidity is being soaked up and this is a cornered stock? Company is flushed with cash after TDR and doesnt need the money for capex, so buy back shares. Good for minority shareholders