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DBSV initiates coverage with Buy Call and $2.25 TP. House believe OSIM is no longer the entity it was before the write-off of Brookstone in FY08. Quarterly results from 1Q09 to 4Q12 have shown that earnings growth has been sustainable. OSIM is now a stronger entity and better positioned for further growth.
Beneficiary of rising income in China. OSIM is a beneficiary of the rising middle class population in China, with 56% of revenues originating from North Asia. Rising disposable income, a strong Rmb and increasing availability of credit will encourage Chinese consumers to spend more. OSIM currently has 435 stores in North Asia including 278 stores in China.
OSIM now creates demand by innovating new products to target new market segments. OSIM has better control over its technology with tighter IP protection. Other than massage chairs, its range of small products help to supplement growth. OSIM produces massage chairs of various sizes for customers to suit small and larger space requirements, as well as foot, head and waist massagers for specific customer segments.
Project FY12-FY14F earnings to grow at CAGR of 16%, driven by China and product innovation. OSIM currently trades at 13.5x FY13F PE vs peers’ 18x. $2.25 TP is based on 16x forward FY13F earnings, translating to a PEG of only 0.9x.
... Married Deal: Vol: 917 Value: $1,750,553 ie $1.909 / share Prev Close: $1.905 ...
... Married Deal: Vol: 370 Value: $701,620 ie $1.896 / share Prev Close: $1.895 ...
SG Daily: OSIM International Singapore Daily OSIM International: Alert: 2013 Will Be A Milestone Year Buy TP $2.60 We are upgrading our TP to a Street high, as we complete a successful US NDR. We are now even more optimistic about the take-up of new massage chair launches in 2013. 2013 will be a milestone year as
We are upgrading our revenue and profit estimates for FY13F by 5% and 7% respectively. Our TP of SGD2.60, pegged to 18X FY13F is also a Street high, with an upside of 38%. Reiterate BUY. |
OSIM International Ltd on Thursday reported a 33 per cent year-on-year increase net profit to S$22.60 million, or 3.11 Singapore cents per share, for the fiscal fourth quarter ended Dec 31, 2012.
Turnover rose 8.3 per cent to S$154.58 million from S$142.68 million a year earlier.
Full-year profit jumped 26 per cent from the previous year to S$86.93 million, while turnover rose 9 per cent to S$601.68 million.
Earnings per share for the full year rose to 11.85 cents from 10.18 cents a year ago.
Time to take it.
Let the bear digest a little before the bull come take it next week.
What are you trying to say? I really don't get you. Sigh
bishan22 ( Date: 12-Dec-2012 17:45) Posted:
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My toes are laughing now. hahahahahahahahahahahahahahah
srichipan ( Date: 12-Dec-2012 17:18) Posted:
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look at this joker's comment
bishan22 ( Date: 04-Dec-2012 12:27) Posted:
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Finally...
As I always said.
Trading muz hv patient.
Monies can grow monies...
O23 (OSIM)
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Bon3260 ( Date: 07-Mar-2011 13:22) Posted:
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Take all you can for Xmas and Happy NY
Time to pick up bear have gone for break
Will it fall further if break 1.68. 
Dont pick the plasters from the bulls we have beef steak today.
All the way bottom
Last red alert
Support at $1.62 last week, reversing back? Let's monitor.
wah. so long ago. i havent even started trading. haha. whats ur call on this now?
U guys shd follow my call during Jan2010.
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Bon3260 ( Date: 28-Jan-2010 17:11) Posted:
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