Boustead    Last:1.64    -0.03

Boustead

Yes, good to buy as static core holding.

Philgoh57      ( Date: 01-Sep-2009 11:47) Posted: Thanks Hippocrates. I bot this counter for same reasons.  http://www.sgx.com/wps/portal/marketplace/mp-en/listed_companies_info/company_announcements/!ut/p/c5/04_SB8K8xLLM9MSSzPy8xBz9CP0os3gTn1DXUFNLYwMLtwA3AyMvZ3Mf09AAA_dAc6B8JE55A3czArq99KPSc_KTgPb4eeTnpuoX5EZUOjoqKgIAFOdGOQ!!/dl3/d3/L2dBISEvZ0FBIS9nQSEh/  http://boustead.listedcompany.com/newsroom/20090813_183039_F9D_70BF11011862505648257611003049E0.1.pdf

 

Thanks Hippocrates. I bot this counter for same reasons.

 http://www.sgx.com/wps/portal/marketplace/mp-en/listed_companies_info/company_announcements/!ut/p/c5/04_SB8K8xLLM9MSSzPy8xBz9CP0os3gTn1DXUFNLYwMLtwA3AyMvZ3Mf09AAA_dAc6B8JE55A3czArq99KPSc_KTgPb4eeTnpuoX5EZUOjoqKgIAFOdGOQ!!/dl3/d3/L2dBISEvZ0FBIS9nQSEh/

 http://boustead.listedcompany.com/newsroom/20090813_183039_F9D_70BF11011862505648257611003049E0.1.pdf

 

I'm vested and I'm definitely not qualified to advise. :)

But Boustead fulfills a few criteria that I look for in a company: consistent dividend; conservative and healthy cashflow; consistent growth; and of course shares buyback is a bonus... all that point to a prudent management team that has the shareholders interest at heart.


 Other than that, I guess it's a non-event.

 

Share buyback by way of market acquisition.  307 lots buyback at 0.74

http://www.sgx.com/wps/portal/marketplace/mp-en/listed_companies_info/company_announcements/!ut/p/c5/04_SB8K8xLLM9MSSzPy8xBz9CP0os3gTn1DXUFNLYwMLtwA3AyMvZ3Mf09AAA_dAc6B8JE55A3czArq99KPSc_KTgPb4eeTnpuoX5EZUOjoqKgIAFOdGOQ!!/dl3/d3/L2dBISEvZ0FBIS9nQSEh/


Can any sifu advise how this is going to impact on the price? Good news or non-event?

 

Dear all, I have done an analysis and review of Boustead's 1H FY 2009 financials and prospects on my blog at http://www.sgmusicwhiz.blogspot.com. Please feel free to visit and leave comments, thanks ! :D

 

Stock splitted, looks stable but minimun volume traded.

 

EX-date for dividend today. Slight dip in price.

Ex-date for stock split on 18 Aug.

 

Price rebound abruptly from 2.19 back to 2.3 level. Not very sure it's due to quarterly reporting coming or some good news annoucning soon. Anyway,

- Personally i hope that they will announced that the wastewater treatment trial for textile industries in china has been successful, opening more revenues and niche market for salcon.

- The other factor might be, since crude oil price has descended to $123, which means the refineries again to start refining the stock . This will translate to projects for boustead.

- Acquistion ? Might be since they are cash rich now.

- One thing i like about this companmy, is that they don't do stupid things like numerous m&A to blow up their report sheet. They are slow and steady, one step by one step.

- With the 750m order book in hand, prospect of FY09/10 will looks to be bright and better than ever.

At 2.19, price looks alright as its cum 7cts dividend. Even $3 seems not so difficult to reach now????

 

Clinched more contracts. 

 

DBS Vickers upgrades Boustead Singapore to Buy from Hold. Says latest win of $175 million contract to build water infrastructure system in Libya will boost house's FY09-10 earnings forecasts 7%, 9% respectively, bringing company's total orderbook this year to S$200 million. Boustead unit Salcon has teamed up with a Libyan state-owned utilities company in 65:35 JV to take on project, which starts this month and is due for completion in 1Q11.

 

Date & Time of Broadcast

30-Jun-2008 18:01:31

BOUSTEAD WHOLLY-OWNED SUBSIDIARY AWARDED
S$175M WATER INFRASTRUCTURE SYSTEM IN LIBYA;
LARGEST WATER CONTRACT TO DATE
Singapore, 30 June 2008

Boustead Singapore Limited (“Boustead” or the “Company”) is pleased to announce that
its wholly-owned subsidiary, Salcon Pte Ltd (“Salcon”) – a leading global specialist in
water and wastewater engineering – has been awarded a S$175 million-equivalent
(152.7 million Libyan Dinahs) EPC turnkey contract to design, construct and upgrade a
major water infrastructure system (the “Contract”) in Libya. The Contract was secured
together with a local joint venture partner, a state-owned utilities company. According
to the terms of the joint venture, Salcon will hold a 65% interest in the Contract, which
is its largest contract secured to date.

Commencing in July 2008, the Contract comprises two phases to design, construct and
upgrade a water and wastewater infrastructure system in Tarhunah, a 731-hectare
township located approximately 80 kilometres south east of Libya’s capital, Tripoli. The
Contract is expected to be completed by the first quarter of 2011.
http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_53149BE83072CA284825747800348176/$file/Boustead_Announcement-Boustead_Subsidiary_Awarded_SGD175M_Water_Infrastructure_Project_in_Libya-30.6.2008.pdf?openelement

 

this one more and more tua kong.

 

June 24, 2008

Boustead wins $60m deal to build high-security facility By VEN SREENIVASAN  - BT

 

BOUSTEAD Singapore has clinched a $60 million project to build the first phase of a high-security facility - known as The Singapore FreePort - for the storage, display and trade of the world's finest collections and valuables.



Shareholders of FreePort - which has been described as a Fort Knox state-of-the-art facility - include the Singapore National Arts Council and the National Heritage Board.

The contract for the facility - for collections and valuables including fine art, jewellery, watches, diamonds, precious metals, antiques, vintage cars, wines, cigars, carpets and confidential archives - boosts Boustead's order book to $560 million............

 

Yes, good stock with too good share price level. I am comfortable to enter at about Sgd. 1.80 perhaps.

winsontkl      ( Date: 30-May-2008 22:00) Posted: Why drastic fall today....sell on news???

 

Why drastic fall today....sell on news???

 

Dear all, I have transcribed the entire Boustead FY 2008 Results Audiocast onto my blog at http://sgmusicwhiz.blogspot.com in question and answer format. It will be in 2 parts since it's very long (6 pages in total to type out !). Please feel free to comment, thanks !

 

FS - year ended 31 Mar 08

Rev  +27.5%

Profit  +45.7%

http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_65BD7547FD766497482574570031ADC5/$file/Boustead_FY2008_Results_Announcement-28.5.2008.pdf?openelement

 

DBS Vickers - Boustead Singapore; Buy S$2.28; Price Target : 12-Month S$ 2.74

A set of stunning interim results last week reaffirms our view that Boustead is poised for prime time as the company, with its many areas of expertise relating to infrastructure building, is well placed to capitalize on the strong infrastructure demand from both developed and developing countries. Further to a 5-year record of continued growth, we believe Boustead is on its way to set new heights as a strong and growing pipeline of new projects has boosted its orderbook to an all time high of S$490m. Against a backdrop of sustainable high oil prices and the construction upturn in Singapore, the Energy-related and Industrial Real Estate Solutions should remain top performers. Meanwhile, Boustead with a strong cash hoard exceeding S$100m, is all ready to take advantage of good investment opportunities to enhance shareholders? return. We have resumed coverage on Boustead with a fair value of S$2.74, based on sum-of-the-part valuation. This would translate to 15xFY08 PER and 13xFY09 PER and offers 21% potential upside. Recommend Buy.

 

Phillip Securities - BUY

What else can we say? The results speak for itself. Boustead Singapore Limited (?Boustead? or the ?Group?) recorded another set of sterling results for 1HFY08 ended 30 September 2007. The first half saw Boustead?s revenue up by 47.6% YoY to reach S$206.2 million. Gross profit was also up by 38.2% YoY to reach S$60.6 million. For the bottomline, the Group registered a net profit (attributable to shareholders) of S$26.0 million, up by a staggering 227.2% YoY. As it stands, the net profit for the first half of FY08 is approximately 73.9% of the total net profit for the entire FY07. Finally, Boustead also announced an interim tax-exempt cash dividend of 3.0 Singapore cents per share.

Segmental details. (i) Energy-related engineering division ? revenue rose by 36.6% YoY to S$65.7 million on the back of strong demand for engineering services in both upstream and downstream oil & gas/petrochemical industries.

(ii) Water & wastewater engineering division ? revenue increased by 113.3% YoY to reach S$16.0 million. This is achieved despite the highly competitive business environment and the low barriers of entry. While there was an substantial improvement in terms of revenue, management does not expect to achieve a turnaround in FY08 due to delays in the negotiation process for a number of sizeable contracts.

(iii) Real estate solutions division ? achieved an impressive 76.0% YoY growth in revenue to reach S$90.3 million on the back of a buoyant Singapore construction industry. During the period in 1HFY08, the division also concluded a S$12.4 million sale of an industrial leasehold property in Singapore.

(iv) Geo-spatial technology division ? registered a steady revenue growth of 4.5% YoY and management has guided a better 2HFY08 performance.

What should we be expecting going forward. We are absolutely positive over Boustead?s prospect and are left with little doubt that the Group will deliver another year of outstanding performance. Our superlative praises on Boustead are based on the followings:


More contracts clinched by the energy-related engineering division. We are optimistic that there will be more medium/large contract win over the next 1-2 years, particularly coming from the downstream oil & gas/ petrochemical sectors.


The long-awaited turnaround of Salcon, the Group?s water & wastewater engineering division. We expect to see the division contributing strongly to the bottomline and would expect quality contracts wins over the next 6 months to 1 year.


The real estate solutions division to continue riding on the buoyant construction industry, not just locally in Singapore, but also on a regional basis.


Strong order book in excess of S$500 million realisable over the period FY08-10.


Strong cash position which currently stands at S$127.5 million. On a per share basis, this translates to approximately 50 Singapore cents per share.


Strong management team led by a CEO with shrewd business sense.

BUY on Boustead. Our fair value of S$2.69 represents a 13.2% upside and we reiterate our positive recommendation on Boustead. We change our method of valuation1 so as to reflect better the earning streams coming from Boustead?s diverse businesses ? the 4 core business segments which comprise the energy-related divisions (Boustead International Heaters Ltd, Controls & Electrics Pte Ltd, and PT Boustead Maxitherm Industries), the water and wastewater engineering division (Salcon Pte Ltd), the industrial real estate solutions divisions (Boustead Projects Pte Ltd), and the geo-spatial technology division (ESRI Australia and ESRI South Asia). Our FCFE valuation model yields a fair value of S$2.69 which translates to a FY09 P/E of 15.1x and P/B of 3.4x. With the fair value representing a potential upside of 13.2%, we declare a BUY on Boustead.

 

 

Boustead Singapore reported a more than threefold rise in half-year earnings, thanks to buoyant energy and real estate market conditions. The company yesterday unveiled a first-half net profit of $26.0 million, a 227.2 per cent jump from the $7.9 million it earned during the April-September 2006 period. This was achieved on the back of a 47.6 per cent jump in revenue to $206.2 million, from $139.7 million last year. The company said that with this latest set of financial results, it was confident of achieving a sixth consecutive year of revenue and net profit growth. Boustead is proposing an interim tax-exempt cash dividend of three cents per share, a 50 per cent rise over the payout last year.