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30c is my target price. At 30c, that would be 1.6X book value. As long as they continue to generate free operating cashflow positively in the following quarters, they would start booking high growth in net profits sooner or later. Allied tech is one of those that has been hiding profits for the last 2 years while making provisions & making significant CAPEX .......and still have positive operating cashflow.
Others in this category include Action Asia, CEI, East Tech, metal comp, 8telecom, Casa, Kings SW, Poh Tiong Choon and Eng Kong.
East tech, metal comp and Casa had a very good run just before the crash and so did Kings. 30-50% gains before the slide back. Many of these are back into accumulation phases once again.
Allied Tech, one of my forgotten stocks surged 3c today to close at 20.5c. Just 2.5c off its pre-crash high clawing back almost 5c in the last 2 weeks after announcing a good set of results and a bonus 3.5c divi & a rights issue of 1 for 2 at 7c. A steep discount to the traded price.
Harryp, this stock is one in my portfolio for a while. After ex-entitlement & continued momentum in its profits & operating cashflow, expect this stock to be a winner in the months down the road. Major CAPEX in vietnam and china completed and starting to churn production out.....major shareholders will need to ramp price up at some time to make from the rights issue. Stock is already cornered just looking at the buy-sell vol today. very easy to push.
NOTICE IS HEREBY GIVEN that the Share Transfer Books and Register of Members of the Company will be closed at 5.00 p.m. on 24 September 2007 (the "Books Closure Date") for
the purpose of determining:-
(a) in relation to Shareholders, their entitlements to the Bonus Dividend; and
(b) in relation to Entitled
-------------------------------
harryp - haven't received yet. The rights offer is subjected to approval and that ought to take some time. May i enquire your views on the opting for the rights issue as opposed to taking up the bonus dividend? Would there be a method to differentiate which is a better choice for investors to choose? Appreciate your thoughts on this, thanks!
Anyone receive the document to opt for paying the rights with the bonus dividend yet?
I think so too, although there seems to be some potential for the share price to go up to 2 x NTA, meaning to say 34 - 35 cents (pls correct me i'm wrong). The company has done well enought to give out 3.5 cts this year and if the turn around gathers steam, this is likely to be repeated each year and perhaps even more bonus issues?
hope to see it going up to .3.
bonjour
can anyone explain wat's a 1 for 2 rights issue?
btw when is the last date before eligible for dividend?
thx in advance
Good news!!! Turnaround in 2nd quarter. Results are good if interest on borrowings are excluded.
Company proposing bonus dividend of $0.035 (net of tax) plus a 1 for 2 rights issue at $0.07 to utilize tax credits.
NTA now at $0.17. Stock is cheap trading at discount.
Results are out. Can check it out at SGX. Excerpt as follows: $0.035 div (less 18% tax) and rights issue 1 for 2!