When insiders buy stock consistently, it's a v positive sign. Koh Bros is an example. Boy, am I glad I closed my eyes and bought 9 months ago. Now I am up about 55%.
I read about Koh Bros share buyback ----> Insider Buying: ROXY-PACIFIC, XINREN, SERIAL, KOH BROS
I think the buying by Tan Yong Keng is reflective of the deep value in Chip Eng Seng. But the market is dumb -- no buying by TYK and the stock price goes flat. RNAV is about $1.50 compared to stock price of 81 cents.
Give CHIP ENG SENG 1 more week of correction + consolidation. Hopefully, it can go down to around 70 cents. I will luv to buy at that price. And let's see if Tan has any more $ he wants to pour into CHIP.
Australia, where it owns/operates 7 of 8 hotels, has
favourable supply/demand fundamentals for the sector.
We noted a bid of S$1bn for Stamford Land’s assets in
2008 and hold out for a re-run of this scenario. It pays
regular dividends, which has upside if it earns higher
property development profits.
The A$ (vs S$) may not be as positive as the analyst be lieves that the A$ could be impacted in a liquidity crisis
situation.
An economic slowdown will affect its hotel earnings.
Buy. RNAV, based on nearby valuation or 14X hotel earnings, is also our target price S$0.76.
A similar offer to that in 2008 would result in a valuation of S$1.20.