PNE Industries    Last:0.475   -

Another undervalued stock!!!

I am still in here. Dividend maintained as profit was lower. however, excluding a non-cash impairment loss profit would have been just 600K lower. details are in announcement on SGX. 

Anyway, I spoke to the Managing Director at the AGM in Jan. He indicated that company's policy is on collections (of receivables) first, followed by sales. This prudent approach helps company prevent any receivables write-off. Inventory has more or less been maintained at stable levels. Cash balance is now higher at 15m, with no debt and low capex. Another plus point is the steep discount to book value of 21.1 cents, and the slowly increasing dividends over the last few years. The MD also said that if he can he would love to give more dividends too as he is the biggest shareholder.

Overall, a decent stock to hold for dividends, quite a defensive stock. Of cause, only negative point i see now is the low trading volume.

Vested. 

 

...this is a neglected / bad performing counter...for more than 5 years... no posts :-(

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Source: CIMB /  Business Times

 

 

is a dead stock, bought 200 lots for slightly more than 2 months, trading volume is so thin or practically no trading at all. understand the business is good, but not sure why there is no interest from many investors.

 

Haha, looks like I have another follower, seems to be new to SJ. Very nicely cornered. Another potential multi-bagger in the making?

 

Good profit for this Company. Anyway, just received the AR today and noticed something:

1) The largest shareholder holds slightly over 10% stake only.

2) The public float is relatively small, 19.67% only.

Not sure what the above implies with regards to takeover or whatsoever, however, one thing I am sure about is that this stock has been cornered, and I am sure people out there like terencefok are watching such cornered stocks.

Any comments from SJ Members?

Cheers

 

Hi

I am back at this thread again, with good news of course. FY net profit has gone up from 3 million plus to 4 million plus. Quite a good company, since most of its assets are current assets, so not subject to depreciation. Operating cashflows also healthy. EPS 1.26 cents, NAV 16.1 cents. Dividend quite low though, 0.2 cent per share. Second half performance was very good. Check out item no. 15 from SGX announcement. Vested with 210,000 shares

 

Testing the 0.165 resistance again. This time I think will break out, MFI up from 68 to 72, volumes are rather high now, compared with past few weeks.

 

Gathering upward momentum, now at 0.165. Someone bought 600 lots at 0.165, hardly any sellers

 

Nice to hear that. But sometimes, I am also tempted to let go earlier so as to ride the bigger wave.

 

Liquidity is not a problem for me. I can afford to hold for 2 to 3 years at least

 

 

Hi terencefok, may want to take a look at San Teh as well. Not exactly a penny stock, but trading well below its nav as well. Recent results are also trending up. Only prob is, there's quite a low liquidity.

 

Looked at the quote movements again this morning and saw the 2 same buy queues as friday, 0.135 and 0.14, 400 lots each. There must be two big boys out there who have their reasons for wanting to buy so much. When they decide to increase their price, this stock will start to run. Suggest collecting it now before they come into action.

At current prices, this stock is very gracious, letting people collect before moving up.

Vested

 

The path upwards looks clear for PNE Ind. Anyway, noobie, thats how I calculate free float.

amateur99, I plan to keep this stock till it gets to 0.30. (2x NTA)

 

Hi terence, is this how one should calculate for free float? Also, you do mean "total traded volume" for the day, right? Do you also retabulate whenever Directors reduce their stakes? I think victorian is also calculating for his kantangs but not sure if his methods is the same as yours. 
Anyway thanks for sharing.
Its people like you and victorian keeps me coming back to learn new stuffs.

 

terence, do you plan to keep it for longterm? or let go soon after breakout? thanks

 

What I did was to look at the number of shares from the annual report not controlled by the top 20 shareholders, then everyday, i just minus the trading volume from the free float till negative.

 

Hi Terence

May I ask how do you tell the current free float in the market? Why do you say its 'cornered'? How to tell?

Thanks.

 

 

Stock has been cornered today. Current Free Float is -2,087,850

 

Volume up today. 2,998,000 done. 0.155 resistance broken.

1.81m done at Buyer queue, 1.17m done at Seller queue.

Retail selling, but BBs bought up. One large trade, 600 lots done at 0.16

RSI up from 61 to 67, Stochastics up from 66 to 76. MFI up from 76 to 82.

MFI above 80 = funds flowing into counter.

 

Starting to move. Volumes picking up. This stock has awaken.