Yongnam   

Yong nam

Gong kia ..... sand saga or not, business will still go on .....



Sand saga, just increase property prices mah .....



Think developers also gong kia meh .....

 

The sand and granite saga over buay ah?

 

Cheong liao ?

 

Property sentiment still strong.  Construction like Yongnam will have opportunities aplenty.

 

No worries.  It will be Yongnam's turn again.



Collection time at immediate support of 25.5 ?

 

Hi.

You all may have heard the news of Crown Prince of Bahrain visits in Singapore, and quoted from the news "Senior Minister Goh Chok Tong said Singapore companies have secured more than S$6 billion worth of projects in the Middle East."

I wonder Yongnam have a part in it, and how big a part ? And anyone have any information on what are the other Singapore companies getting a slice of this pie ?

 

also note, Yongnam last price is $0.26

Its net asset value per share is $0.0071, and thus its Price/NAV is about 36.62! My goodness. with the financial fundamentals i indicated in the previous post, coupled with the above it really looks scary

 

I thought I wanted to give my opinion from the fundamental analysis point of view. Just a few first glances without in-depth analysis yield quite a lot on yongnam, though not very rosy info:

Net Margin: 3.5% (FY2006), 1.24%(FY2005)

Financial Leverage: 20 = (ROE/ROA) = (72.2/3.6)

Even though net margin increased substantially in percentage terms, it's still very unconvincing from the absolute point of view. What's more alarming is the Leverage ratio of 20! Yongnam's ROE is made up by so much by its leverage ratio, very very very heavily in debt relative to shareholders' equity!

Also note its interest coverage ratio of just 2.5 times, and its current ratio is only 0.903!

I thought this stock wouldnt pass any analysis measure with the above first glances. Even you are still interested, with a historical P/E of 50.7, and a rolling P/E of about 36, this stock looks severely over-valued, without even going into intrinsic valuation.....a highly speculative stock at most. This stock should not be considered by the inexperienced people like me.....

 

Another one of those give the unexpected ..... the good "unexpected" .....

 

This one later last minute cheong like Delong ..... how huh .....

 

This one later can become a cheong king too.

 

Time to catch the dip. 



Reach high of 35 cts on 22/2/07.



Almost 30% down from it's high.



Also time for a good upward climb.

 

Hulumas,

For Yongnam, what about middle east projects ?

Wouldn't that help to push the price up some more ?

 

1) i heard of the Integrated Resort which will benefits the construction many times, but does anyone if any of the construction firm had been awared, could not find anywhere. Or at least when the award will be announce.

2) Next looking at Yong Num and Lum Chang

Yongnam profit before tax Yr 2005 is $691k, Yr 2006 is $5,622k
whereas for LumChang half Yr 2005 is $408k, Yr 2006 is $932k

This infor is got from the General announcement under the SES site. You can verify if correction needed.

Looking this big difference I thought Yongnam will be better than Lum Chang?

 

Dear Jackjames,

 It is the top advantage to grab IR under ground project co-operation with Shimitze corporation of Japan. Its NTA price is far above share price level now (severe under value in some sense) also its business profit jump more than 300% in 2006 compare to 2005 and it is a strong recovery construction stock!!!

 

Hulumas,

tell us more about Lum Chang.

 

Dear Readers,



I prefer Lum Chang to Yongnam now. I switch all my Yongnam to Lum Chang lately!!!

 

Nowadays traders like to play this 1 to 2 bids up/down thing .....



Naughty fellas ..... must beat beat backside .....

 

Big fish already out of YN....Why still stay here.....

 

Looks like the sell volume is rising....