Excerpts from analyst reports.....
RHB-OSK ups target for Nam Cheong to 35 c
Analysts: Lee Yue Jer & Jason Saw
Nam Cheong is the largest builder of offshore support vessels (OSVs) for Malaysian waters. Photo: CompanyNam Cheong announced that it has won a USD72.1m contract for six vessels – two anchor handling tug supply vessels (AHTS) and four emergency response and rescue vessels (ERRVs).
While the AHTS were within our shipbuilding model, the four ERRVs are a pleasant surprise.
RHB-OSK ups target for Nam Cheong to 35 c
Analysts: Lee Yue Jer & Jason Saw
Nam Cheong is the largest builder of offshore support vessels (OSVs) for Malaysian waters. Photo: CompanyNam Cheong announced that it has won a USD72.1m contract for six vessels – two anchor handling tug supply vessels (AHTS) and four emergency response and rescue vessels (ERRVs).While the AHTS were within our shipbuilding model, the four ERRVs are a pleasant surprise.
With an extremely strong orderbook, Nam Cheong is a growth stock at value multiples.
We raise our TP from SGD0.34 to SGD0.35.
Recent story: NOL, AUSGROUP, NAM CHEONG: What Analysts Now Say...
RHB-OSK maintains buy and 53-c target for Second Chance despite profit fall
Analyst: Lynette Tan
We raise our TP from SGD0.34 to SGD0.35.
Recent story: NOL, AUSGROUP, NAM CHEONG: What Analysts Now Say...
RHB-OSK maintains buy and 53-c target for Second Chance despite profit fall
Analyst: Lynette Tan
Mohd Salleh, CEO of Second Chance Properties. NextInsight file photoSecond Chance (BUY/TP: SGD0.53) recorded a 42.4% YoY decline in 2QFY13 PATMI to SGD3.0m. This was despite a 9.6% growth in revenue. The PATMI decline was largely due to higher operating expenses and significantly lower property revaluation gains.
Going forward, its apparel business is expected to continue to do well, supported by its new stores in Malaysia, but this is likely to be somewhat offset by lower rental income (it had
disposed a few investment properties in FY12) and possibly lower profits from its gold business as gold prices remain softer.
Management has guided that it will distribute dividends of SGD0.034 / share for FY13. At the current price, this would translate into an attractive yield of 8.2%.
Management has guided that it will distribute dividends of SGD0.034 / share for FY13. At the current price, this would translate into an attractive yield of 8.2%.
Comments
Why is the Cash Flow so much lower than EPS.
2.Second Chance: also believe the long term outloook is positive.
What I don`t like is the Warrant Overhang and the fact that Overseas Holders don`t seem to qualify for Warrant Bonus Issues.
Isn`t this unequal treatment? PGL