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lol .
wxp8838 ( Date: 13-Nov-2013 13:28) Posted:
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I will be there ride my donkey,big one.
leeeta ( Date: 13-Nov-2013 13:15) Posted:
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anyone buying a dildo for David? :)
HANKORE DUA CHIONG AH!!!!!!!!!
Lol, in future at any agm or sgm if we see someone with a mountain full of food, we know who is it, wahahaha!
wah ccx don need to be like that bah... don forget oso got other shareholders. I may also go grab a free meal since no turkey xmas for me le
cccx123 ( Date: 12-Nov-2013 17:02) Posted:
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I going to see show this coming SGM and this time round can bring Tupperwares already. If they give dim sum in those packers I will take several. Going to be on an empty stomach, so might just sapu all the food on the table. Will personally "consolidate" as much food as possible into one plate, mine. Since David like consolidation so much, I show him what real consolidation is on a buffet table.
new6ie ( Date: 12-Nov-2013 16:53) Posted:
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Sorry, I haven't seen it with my own eyes after all these years except for myself asking the directors pointblank always. So since you have said about Hankore (yes, I was there last year, but not last month) and there were nothing special and resolutions were not much debated.
I noticed most directors are rather tricky at meetings, always cutting shareholders off like this, " any question?" paused for 2 counts (seconds), and ended " since there are no questions, I call the meeting to a close" .
Whenever I attended meetings, I always tried to stop the abrupt close by quickly raising my hands when they played this trick, so that it allowed some people who were shy to recompose and start the ball rolling, even though I myself had nothing to clarify.
Hope those attending future meetings regardless whether Hankore or DBS, to clarify business with directors before they close the meeting abruptly.
I no longer vested.
cccx123 ( Date: 12-Nov-2013 15:13) Posted:
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sianz.. SIIC 15 cents... hankore cant even catch the tail.
if hankore dont let me eat turkey then no choice lo i got to eat kaya bread wash down with kopi. No xmas shopping. Just everyday $2.50 from Rice Garden liao. :" (
leeeta ( Date: 12-Nov-2013 13:59) Posted:
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Result out drop even fast!!!!!
You have obviously not attended the AGMs of companies such as Hankore, Chasen, informatics, IPCO, et cetera. The shareholders are a raucous group, sometimes in a good way. I will postpone everything to attend the SGM that David is brave enough to call.
new6ie ( Date: 12-Nov-2013 14:53) Posted:
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I want to attend the SGM but not owning any shares. Wish to know how shareholders going to act. Nowadays I seldom want to attend AGMs or EGMs or SGMs because they are quite monotonous. Shareholders mostly compromising with their directors. Usually a number of paid members and proxies are there to give directors the support. No genuine players attendees.
Can we Singaporeans learn to speak up, in all these meetings? Let us cultivate the " honour to speak up for common interests, group interests or even national interests" and have our intelligent views be heard and listened to at least?
When will the day come? Alas...why are we born like that, lol... Don't ask me to migrate as I love my country...
OCBC on United Envirotech Ltd (UEL) 11 Nov 2013
United Envirotech Ltd (UEL) reported 1HFY14 climbing 11.7% to S$96.0m, meeting 45.9% of our FY14 forecast, but net profit slipped 7.9% to S$12.9m, or 28.9% of our full-year estimate, mainly due to higher-than-expected operating and interest expenses. Due to the persistent nature of the ESOS expenses (70m option shares outstanding) and higher amortization of the convertible bonds, we pare our earnings estimates for FY14 by 22.5% and FY15 by 10.5%. Our fair value dips from S$0.975 to S$0.83, even as we roll forward our 13x peg from FY14F to blended FY14F/FY15F EPS. Maintain HOLD we would be buyers closer to S$0.80 or below.
1HFY14 earnings below forecast
United Envirotech Ltd (UEL) reported 2QFY14 revenue of S$52.0m, down 3.6% YoY but up 17.9% QoQ, driven by higher recurring water treatment revenue (+56.6% YoY, +20.1% QoQ) to S$15.5m. While net profit was down 11.7% YoY to S$7.1m, it was up 24.4% QoQ. For 1HFY14, revenue climbed 11.7% to S$96.0m, or 45.9% of our FY14 forecast, while net profit slipped 7.9% to S$12.9m, meeting 28.9% of our full-year estimate, mainly due to higher-than-expected operating (extra S$1.3m from ESOS) and interest (recently issued some bonds from its MTN program) expenses.
Still looking to add to portfolio
Speaking of which, cash balance is back up to S$82.3m as of end 2QFY14, boosted by the receipt of S$63m from the bond issue. Based on its usual 40% equity/60% debt financing strategy, UEL can acquire up to S$205m worth of water treatment plants. Indeed, we understand that management is currently looking at viable TOT projects in both municipalities and textile-related industrial parks. Separately, it is also tendering in some EPC projects collectively worth up to RMB800m. Current EPC order book is around S$100m, which UEL expects to deliver into Sep 2014.
Paring earnings estimates
Due to the persistent nature of the ESOS expenses (70m option shares outstanding) and higher amortization of the convertible bonds, we need to pare our earnings estimates for FY14 by 22.5% and FY15 by 10.5%. And even as we roll forward our 13x peg from FY14F to blended FY14F/FY15F EPS, our fair value dips from S$0.975 to S$0.83. Nevertheless, we note that UEL should still see improving net margins as it takes on more recurring treatment revenue (EBITDA margin of nearly 60%). Maintain HOLD. We would be buyers again closer to S$0.80 or below.
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Let's see what Hankore's financial results will be like in 2 days. If it disappoints due in part to the higher interest expense from the MTN issue and other loans, then I see no floor nearby. If it surprises on the upside, then I see hope. :)
United Envirotech Ltd (UEL) reported 1HFY14 climbing 11.7% to S$96.0m, meeting 45.9% of our FY14 forecast, but net profit slipped 7.9% to S$12.9m, or 28.9% of our full-year estimate, mainly due to higher-than-expected operating and interest expenses. Due to the persistent nature of the ESOS expenses (70m option shares outstanding) and higher amortization of the convertible bonds, we pare our earnings estimates for FY14 by 22.5% and FY15 by 10.5%. Our fair value dips from S$0.975 to S$0.83, even as we roll forward our 13x peg from FY14F to blended FY14F/FY15F EPS. Maintain HOLD we would be buyers closer to S$0.80 or below.
1HFY14 earnings below forecast
United Envirotech Ltd (UEL) reported 2QFY14 revenue of S$52.0m, down 3.6% YoY but up 17.9% QoQ, driven by higher recurring water treatment revenue (+56.6% YoY, +20.1% QoQ) to S$15.5m. While net profit was down 11.7% YoY to S$7.1m, it was up 24.4% QoQ. For 1HFY14, revenue climbed 11.7% to S$96.0m, or 45.9% of our FY14 forecast, while net profit slipped 7.9% to S$12.9m, meeting 28.9% of our full-year estimate, mainly due to higher-than-expected operating (extra S$1.3m from ESOS) and interest (recently issued some bonds from its MTN program) expenses.
Still looking to add to portfolio
Speaking of which, cash balance is back up to S$82.3m as of end 2QFY14, boosted by the receipt of S$63m from the bond issue. Based on its usual 40% equity/60% debt financing strategy, UEL can acquire up to S$205m worth of water treatment plants. Indeed, we understand that management is currently looking at viable TOT projects in both municipalities and textile-related industrial parks. Separately, it is also tendering in some EPC projects collectively worth up to RMB800m. Current EPC order book is around S$100m, which UEL expects to deliver into Sep 2014.
Paring earnings estimates
Due to the persistent nature of the ESOS expenses (70m option shares outstanding) and higher amortization of the convertible bonds, we need to pare our earnings estimates for FY14 by 22.5% and FY15 by 10.5%. And even as we roll forward our 13x peg from FY14F to blended FY14F/FY15F EPS, our fair value dips from S$0.975 to S$0.83. Nevertheless, we note that UEL should still see improving net margins as it takes on more recurring treatment revenue (EBITDA margin of nearly 60%). Maintain HOLD. We would be buyers again closer to S$0.80 or below.
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Let's see what Hankore's financial results will be like in 2 days. If it disappoints due in part to the higher interest expense from the MTN issue and other loans, then I see no floor nearby. If it surprises on the upside, then I see hope. :)
No no.. My avg cost still below current price. Just very sian when I see the px movement. Big sabo by David himself.
leeeta ( Date: 12-Nov-2013 13:59) Posted:
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Keep shouting. Eventually it will happen soon!
SHIOK !!!! Hankore Cheong ahhh!!!
David, SIIC is running to 15cts liao (without any consolidation)..and becoz of your smelly big mouth HK is languishing at 6+cts. Despite all the good news about HK you threw a stinky bomb..this time I call u a blardy idi@t for shooting your own foot. It will take some time again for the PX to rise to where it should be..thanks to you, Spiivy and Cccx cant have turkey for Christmas.
Ok shoot liao. :) see can move or not?
no further annoucements yet. If consol needs to be passed at a SGM, then company needs to send us the circular first. That will take at least 2 weeks time. Whole consol exercise should take at least a month to complete. So at least have up till december to hold on to fight. Wait for results on thur and see if any impact of results on share price then decide next step.
new6ie ( Date: 12-Nov-2013 10:59) Posted:
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Bro, if it later cheong up, then I'll decide whether to stay out or re-enter. At least I got a choice. If I keep holding and knowing the future for this counter is still very uncertain, I'll rather hedge my bet and cut loss first...
Spivvy ( Date: 12-Nov-2013 12:12) Posted:
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woa bro, not kek sim ah? 8 pips equal to 1.6k nia, ok lar a small loss. Considering you wont know what will happen loss a bit better than you cut later loss alot. But if cheong up how? Wont u Feel more shitty? Sianz.
spss1955 ( Date: 12-Nov-2013 11:48) Posted:
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