Mencast    Last:0.025    +0.003

Cornerstone investor GAY CHEE YONG in mencast

 

Another O& G gem, backed by  Temasek,  that has been neglected by the market..

MENCAST HOLDINGS LTD.

42E Penjuru Road, Mencast Central

Singapore 609161

www.mencast.com.sg

Company Registration No: 200802235C

Mencast revenue and earnings grew by 26% and 16% respectively for the nine months ended 30 September 2013

 Revenue increased 26% to $71.2 million, mainly on higher contributions from Offshore and Engineering segment and contribution from the new segment, Energy Services

 Gross profit margin of 33% for FY2013 (nine months) remained comparable with that of FY2012 (nine months) of 32%

 Components in place to embark on the next growth phase near term growth catalyst is the new production facility at Penjuru (TOP for the workshop obtained in April 2013)

Singapore, 5 November 2013 ? Mencast Holdings Ltd. and its subsidiaries (" Mencast" or the " Group" ), a Mainboard listed and Singapore-based maintenance, repair and overhaul (" MRO" ) provider comprising Marine, Offshore & Engineering and Energy Services, is pleased to report a 16% increase in net profit after tax to $9.5 million for the nine months ended 30 September 2013. A table on the financial highlights is provided below: FINANCIAL HIGHLIGHTS	2013		2012		chg
$?000		$?000		%
Revenue	71,238		56,324		26
Gross Profit	23,432		18,260		28
Gross Profit Margin	33%		32%		3%
Administrative Expenses	(13,052)		(9,827)		33
Net Profit After Tax	9,483		8,196		16
Net Profit Margin	13%		15%		(13)

 

Mencast Holdings has won contracts worth a total of

approximately S$6m from a Singapore based refinery.

Effective from mid-2013 to June 2016, these contracts

cover work such as maintenance, waste treatment,

cleaning and operations.

source DBS

 

Mencast Holdings has entered into a non-binding

Memorandum of Understanding (MOU) with Takamul

Investment Company, to co-operate in analysing

downstream ventures within the Sultanate of Oman. The

first potential project being examined under the MOU is

the engineering, procurement, installation and

commissioning (EPIC) of a downstream treatment plant.

Source: DBS

 

 

Mencast Holdings is re-evaluating the basis for the proposed

(1) Bonus Share for every one (1) Share held as one of the

listing rule (Rule 838 of the SGX-ST Listing Manual) requires

the company to ensure that its daily weighted average price,

adjusted for a bonus issue, is not less than S$0.50.

 

jump 9% today to 67..wow!

gd luck dyodd

 

chart genie

Time: 4:52PM
Exchange: SGX
Stock: Mencast(5NF)
Signal: Resistance - Breakout with High Volume
Last Done: $0.61

 

this baby bucked the downtrend for the overall market today..

KIV this gem..

gd luck dyodd

 

Mencast has the highest operating margin of 20%.. think it has more room to grow with it recent acquisition.. gd luck dyodd

Here we feature three players with strong earnings growth in the past year.



Mencast – MRO player for offshore

Take Mencast for example. From being a vessel sterngear manufacturer and solutions provider, its top line has leaped with its transformation into maintenance, repair and overhaul solutions provider that also caters to the offshore sector.

Just a year after acquiring three businesses for its offshore & engineering segment, the segment's 1H2012 revenue doubled year-on-year to S$22.4 million and contributed 64.6% to top line.

Group net profit attributable to shareholders rose 27.7% to S$6.9 million.

The acquired businesses includes services such as:

* Top Great Engineering & Marine - Inspection, maintenance and fabrication of offshore structures as well as engineering and other services related to onshore structures, provided by the newly acquired.

* Unidive - Diving services for subsea inspection, repair and maintenance

* Team International Development and Team Precision Engineering - Manufacturing of metal precision components

Its offshore & engineering order book as at 30 June 2012 was S$17.8 million, compared to S$10.2 million a year prior to this.

 

Gay Chee Yong up his stake in this gem..

gd luck dyodd :)

 

Gay Chee Cheong builds up stake in Mencast

Smart money is grabbing the opportunity to accumulate shares in sterngear equipment manufacturer Mencast Holdings.

Co-founder of 2G Capital Gay Chee Cheong  first invested in Mencast in 2010.  He bought another 200,000 shares from the open market on 11 September, raising his interest to 9.03%.

He paid 55 cents apiece, 57% higher than what he paid way back in 2010.

Tuesday's  open market purchase follows his purchase of placement shares in March this year.

His investment is making progress --- Mencast’s aggressive growth strategy via M& A has more than doubled its revenue from S$26.3 million to S$56.4 million over FY2009 to FY2011.

FY2011 EPS was 6 cents, 20% higher than the 5 cents in FY2009.

 

 

To expand business, it has embarked on the following acquisitions over the past two years:

* Unidive Marine Services - topside (Rope Access) and subsea (diving) services for the offshore and inshore marine industry

* Top Great Group - engineering design, procurement, fabrication and installation of structural and precision engineering systems and plants

* Fabrication plant and machinery of a metal precision components manufacturer

* Vac-Tech - industrial and environmental cleaning services provider

 

http://sgxreports.blogspot.sg/2012/08/mencast-holdings.html

 

 

MENCAST HOLDINGS LTD.

Sim Soon Ngee Glenndle

51.14

45.75

 

 

Mencast is doing everything right and the management is solid and it's tp will be soon 70 cents. I strongly recommand buy.

 

Mencast on target to being MRO player

A month after its transfer to the Main Board, Mencast’s stock price has gained 14.6%. (It closed at 48 cents before its transfer on 14 Dec.)

In its report dated 13 Jan, UOB Kayhian analyst Tan Junda gave Mencast a ‘Buy’ recommendation, with a target price of 71 cents. The valuation is pegged to 8.6x 2012 PE, at a 6.2% premium to peers’ average of 8.1x.

The sterngear equipment services provider is on target to becoming a maintenance, repair and overhaul (MRO) player for the offshore and marine vessels via M& A.

Its latest proposed acquisition is the fabrication plant and machinery of Team Precision Engineering and Team International Development for S$4.5m.

Also, the completion of Mencast’s waterfront facility at Tanjong Penjuru Road will allow the group to move up the value chain to serve larger, more complex vessels.  Its facility will be expanded to 40,000 sqm, more than four times the size of its previous workshop.

 

plan to buy if close green candle + > 55c

 

Cannot hold 0.58, I run first.

 

Lucky news come in time, nearly wanted to cut yesterday. But since it is able to close back 0.60, so I wait a while. With the volatility in US, don't feel safe to hold too long.

 

More good news!!

By TEO SI JIA

Mencast Holdings Ltd announced on Friday that its wholly owned subsidiary Unidive Marine Services Pte Ltd has secured a contract from Shell Eastern Petroleum for the provision of underwater inspection, repair and maintenance services.

The one-year contract took effect from Aug 1 and will last until July 31 next year, with a renewal option for a further four years.