Valuetronics    Last:0.65   -

Biz Times june 26..Valuetronics to expand

Valued OEM partner for the world?s leading brands

Valuation

 Valuetronics Holdings Ltd (Valuetronics) is trading at 6.7x FY13 PE and 0.8x P/B.

Results

 1HFY14 revenue flat but gross profit up 11%. While revenue remained flat in 1HFY14, gross profit increased 11.4% yoy due to a higher contribution from the industrial and commercial electronics (ICE) segment. Gross margin improved from 12.0% in 1HFY13 to 13.1% in 1HFY14.

 Growing ICE segment. 1HFY14 revenue from the ICE segment increased 16.5% yoy with contributions from 2 new customers.

 No more profit drag from discontinued operation. With the termination of the licensing business in FY13, Valuetronics will not be incurring further expenditure for the loss-making business. Excluding the impact of the discontinued licensing business, profit from continuing operations increased 8.8% yoy for 1HFY14.

  Investment highlights

 Net cash forms half of market cap. Valuetronics has a net cash position of S$0.127/share, which forms about 54% of its current market cap. Besides maintaining a strong net cash position for working capital requirements, Valuetronics? strong balance sheet also serves as a form of reassurance to its existing and new customers with regard to the stability of its manufacturing capabilities and its ability to continue as a going concern.

 Stable dividend payout with attractive yield. Valuetronics has been paying out dividends to shareholders since its listing in FY07. Despite seeing a huge decline in profits after it discontinued its licensing business in FY13, Valuetronics still paid a dividend of HK$0.08/share (S$0.013/share), which translates into an attractive yield of 5.5%. Given that Valuetronics? 1HFY14 net profit already forms 92.7% of its FY13 net profit, we expect to see a rise in dividends in FY14.

 Valued OEM partner of the world?s leading electronics brands. With 20 years of operating history, Valuetronics is a valued original equipment manufacturer (OEM) for several listed leading brands in the consumer, industrial and commercial electronics sectors. With its strategic relationships and quality production, Valuetronics has remained profitable, even during the 2008 economic downturn.

 Key risks. Rising labour and material costs continue to be a key concern for Valuetronics, as wages continue to rise in China.

  (From UOBKH - Not Rated)

 

Start Moving... Valuetronics? Q2FY2014 net profit up 1,097.6% to reach HK$39.6 million ? Net profit grew ten times largely due to increase in demand from customers and with no further expenditure having been incurred for the loss-making Licensing business, which was terminated in FY2013

cheongsl      ( Date: 02-Jun-2013 07:38) Posted: Yup 8cts HKD is consider quite generous already. The licensing department budget overrun actually only discover somewhere 1Q last year, thus it is only start reflecting on 2Q financial report. They have did something that is not a common practice, that is restate the financial loss to previous year, but in actual fact to them FY 2012 when they declare a divident of 17HKcts the earning per share is 44.4HKcts, that equate to 38% of their earning. But in actual scenario in FY 2013, what being seen by the company earning should be 32.8HKcts - 11HKcts (Loss due to licensing department) -8.3HKcts (loss restate due to licensing department) = 13.5HKcts per share, thus a 8HKcts to the company for this year earning should be equate to 59.2% of their earning. Don't forget all the planning was still based on unknown overrun until  after 1Q FY 2013. What I admire is the way that the company handle such situation, decisive, close down the unearning department immediately. And Also once this closing down issue, Chief Technical Officer was ask to go. Some company might just transfer the CTO to other department. But Valuetronics decision show a clear understanding of business world. The unnotice overrun must be due to false reporting or poor management, if the company allow such chief to stay then the company other department will also failed. Especially when China PMI continue to increase I believe valuetronics will benefit from this trend and the way they take care of their share holder with proper amount of divident payout also make me clasified this counter under my divident payout porfolio. 5月 PMI显 示 指 数 有 所 回 升 经 济 持 续 走 稳 国 物 流 与 采 购 联 合 会 、 国 家 统 计 局 服 务 业 调 查 中 心 发 布 的 2013年 5月 份 中 国 制 造 业 采 购 经 理 指 数 (PMI)为 50.8%， 比 上 月 回 升 0.2个 百 分 点 ， 分 项 指 数 中 多 数 指 数 有 所 回 升 ， 整 体 走 势 好 于 历 史 同 期 ， 显 示 当 前 经 济 运 行 基 本 态 势 稳 中 见 升 。 　 　 行 业 企 稳 回 升 基 本 面 扩 大 。 21个 行 业 当 中 ， 有 14个 行 业 PMI指 数 达 到 50%以 上 ， 显 示 多 数 行 业 企 稳 回 升 。 钢 铁 、 有 色 等 周 期 性 行 业 回 升 明 显 ， 新 订 单 指 数 回 升 均 达 到 2个 百 分 点 ， 生 产 指 数 回 升 超 过 4个 百 分 点 。 同 ?衣 、 食 、 住 、 行 ?密 切 相 关 的 消 费 品 行 业 回 升 也 较 为 显 著 ， 其 PMI指 数 回 升 至 50%以 上 ， 显 示 公 众 消 费 需 求 趋 升 。 　 　 企 业 经 营 形 势 逐 渐 转 好 。 今 年 以 来 ， 大 型 企 业 一 直 稳 定 在 51%以 上 ， 波 动 较 小 ； 中 型 企 业 自 3月 份 以 来 在 50%以 上 持 续 小 幅 回 升 ， 5月 份 较 上 月 回 升 0.7个 百 分 点 ， 达 到 51.4%。 目 前 大 中 型 企 业 PMI指 数 均 回 升 至 去 年 同 期 水 平 之 上 ， 反 映 出 大 中 型 企 业 经 营 状 况 持 续 好 转 ， 微 观 经 济 基 础 趋 向 改 善 。 　 　 结 构 调 整 进 一 步 显 示 成 效 。 今 年 以 来 ， 装 备 制 造 业 产 需 持 续 同 步 回 升 。 5月 份 回 升 进 一 步 加 快 。 新 订 单 指 数 、 生 产 指 数 均 达 到 58%以 上 ， 较 上 月 回 升 超 过 4个 百 分 点 ， 显 示 出 装 备 制 造 业 在 需 求 支 撑 下 稳 步 回 升 ， 整 体 发 展 势 头 良 好 。 　 　 库 存 调 整 呈 见 底 迹 象 。 企 业 采 购 活 动 增 加 ， 库 存 有 所 回 升 ， 购 进 价 格 明 显 反 弹 。 采 购 量 指 数 为 51.5%， 较 上 月 上 升 0.5个 百 分 点 ， 连 续 三 个 月 保 持 在 51%以 上 。 与 此 相 应 ， 产 成 品 库 存 指 数 、 原 材 料 库 存 指 数 低 位 回 升 ， 购 进 价 格 指 数 明 显 反 弹 ， 较 上 月 回 升 5个 百 分 点 。 综 合 来 看 ， 当 前 企 业 库 存 调 整 呈 现 见 底 迹 象 ， 后 期 采 购 、 补 库 等 经 营 活 动 趋 于 积 极 ， 将 为 宏 观 经 济 企 稳 回 升 带 来 一 定 空 间 。 johnng      ( Date: 28-May-2013 10:57) Posted: Something to watch out for at $0.215.....big fat dividends of $0.01297 or $0.08HKD announce in FY report 13

 

There was no material change in shareholding in today's announcement. It was just a transfer of holding from one sister mutual fund to the other.


ELITE FUND and POPULUS FUND have both been mutual funds under management of PYN Fund Management Ltd. POPULUS FUND was merged to ELITE FUND on 30/09/2013 and all the assets, including the 5.9% Valuetronics shares, used to be held by POPULUS FUND were then transferred to ELITE FUND in this merger.

starlene      ( Date: 03-Oct-2013 19:02) Posted: Director and CEO Tse buy or sell..can't open..plse help   nfopub.sgx.com/Apps?A=COW_CorporateAnnouncement_Content& B=AnnouncementToday& F=1012567#.Uk1OYIZmiSo  johnng      ( Date: 01-Oct-2013 12:36) Posted: may clear $0.23 soon!

 

Director and CEO Tse buy or sell..can't open..plse help

 

nfopub.sgx.com/Apps?A=COW_CorporateAnnouncement_Content& B=AnnouncementToday& F=1012567#.Uk1OYIZmiSo 

johnng      ( Date: 01-Oct-2013 12:36) Posted: may clear $0.23 soon!

 

may clear $0.23 soon!

 

Breakout $0.225.....!!

 

something brewing in it this morning...let see..

 

what this company doing?

 

time to cut valuetronics..later tml force-sell luggi worst

 

VERY STRONG!!

 

Strong RALLY coming......!!!

 

The show is still on......not one day.....MANY DAYS!!

 

this one is a one day show.as usual

 

Bro you are spot on....collecting free dividends plus stock appreciation...

johnng      ( Date: 29-Jul-2013 14:06) Posted: Loading this counter higher...dividends play

 

wow, what a breakout!

 

http://infopub.sgx.com/FileOpen/VHL-Q1FY2014-MediaRelease.ashx?App=Announcement& FileID=251881

 

Good results with disposal of loss making licencing biz ...

 

very strong volume today, moving liao

 

http://infopub.sgx.com/FileOpen/VHL-Q1FY2014-Result.ashx?App=Announcement& FileID=251880



RESULTS VERY GOOD, HUAT AhHH $$$$ +5%%%%

 

What a move today.......

 

every year 6%++++++++++.............better than putting in Fixed Deposits.

cheongsl      ( Date: 13-Aug-2013 07:24) Posted: Profit margin improve after the discountinue operation