KSH    Last:0.21   -

KSH Holding Value @ $0.50 Set to Rise

fundamentally a gd stock..

low PE 4.5 for 2013 Forecast

gd luck dyodd

 

KSH reported that it has received the LOA for the main contract works for Q Bay Residences. This contract win - worth a hefty S$142.3m – is one of the largest awarded to KSH in recent years, and would boost its construction order book by ~45% to more than S$460m. Construction for the project would commence in Apr 2013 for a total length of 33 months. With an anticipated net profit margin above 10%, this would contribute more than S$14m of net profits and add significant incremental visibility to construction earnings ahead. With a good track record of execution from management and a solid earnings growth profile (YoY earnings growth forecasted at 68% in FY13 and 73% in FY14), KSH remains one of our top value picks in the small-cap universe. Potential catalysts ahead include new contract wins and the anticipated launch of Hong Leong Gardens in 1H13. Maintain BUY with an unchanged fair value estimate of S$0.50. New win to boost construction order book by 45% KSH Holdings Limited (KSH) recently reported that it has received the Letter of Acceptance for the main contract works for Q Bay Residences at Tampines. This contract, awarded by a consortium comprising Fraser Centrepoint, Far East Organization and Sekisui House, is worth a hefty S$142m and is one of the largest won by KSH in recent years. As a result of this, we estimate KSH’s construction order book to increase by a whooping 45% to S$460m. Construction for the project would commence in Apr 2013 for a total length of 33 months. With an anticipated net profit margin above 10%, this project would contribute more than S$14m of net profits and add significant incremental visibility to KSH’s construction earnings ahead. Order book replenishment beating 2013 expectations We understand from management that its construction unit has the capacity to handle up to S$700m in its order book and that KSH is still in the midst of actively tendering for contracts. We had forecast for KSH to win an estimated S$170m in contracts in 2013, and it appears the company would likely exceed expectations handily. One of our top value picks in the small-cap universe We continue to see significant fundamental value in KSH’s share price, even given our conservative sum-of-the-parts valuation made up of 1) the construction segment valued at 3x FY13 segment earnings and 2) the property development segment valued at a 50% discount to RNAV. With a good track record of execution from management and a solid earnings growth profile (YoY earnings growth forecasted at 68% in FY13 and 73% in FY14), KSH remains one of our top value picks in the small-cap universe. Potential catalysts ahead include new contract wins and the anticipated launch of Hong Leong Gardens in 1H13. Maintain BUY with an unchanged fair value estimate of S$0.50.

aimtowin      ( Date: 23-Jan-2013 09:07) Posted: More at .365 aimtowin      ( Date: 22-Jan-2013 10:21) Posted: Got in more at .36

 

More at .365

aimtowin      ( Date: 22-Jan-2013 10:21) Posted: Got in more at .365 aimtowin      ( Date: 22-Jan-2013 09:36) Posted: Got in some at .36... Market haven't react much on it despite a 148 mil contract won... Book order increases as well... Re-ratings should be coming soo

 

Got in more at .365

aimtowin      ( Date: 22-Jan-2013 09:36) Posted: Got in some at .36... Market haven't react much on it despite a 148 mil contract won... Book order increases as well... Re-ratings should be coming soon xkclzf      ( Date: 08-Jan-2013 06:44) Posted: Slowly move to target price-0.5

 

Got in some at .36... Market haven't react much on it despite a 148 mil contract won... Book order increases as well... Re-ratings should be coming soon

xkclzf      ( Date: 08-Jan-2013 06:44) Posted: Slowly move to target price-0.5

 

Slowly move to target price-0.5

 

you good la, can hold for long enough.  I look for opporty to re-enter again...

xkclzf      ( Date: 03-Jan-2013 16:26) Posted: you are smart guy! I keep all way!  aimtowin      ( Date: 03-Jan-2013 15:34) Posted: Sold .365, I brought back when it broke .35. Take profit first and see.

 

you are smart guy!

I keep all way! 

aimtowin      ( Date: 03-Jan-2013 15:34) Posted: Sold .365, I brought back when it broke .35. Take profit first and see. xkclzf      ( Date: 03-Jan-2013 15:00) Posted: today  Strong momentum! all sold it?

 

Sold .365, I brought back when it broke .35. Take profit first and see.

xkclzf      ( Date: 03-Jan-2013 15:00) Posted: today  Strong momentum! all sold it?

 

today  Strong momentum! all sold it? 

 

It's good company, so I don't care the price whether up or down in the shortterm, my TP is at least 0.4 that also fair price. Hope everyone who still hold have good profit.

aimtowin      ( Date: 21-Dec-2012 11:46) Posted: sold all at .335.  profit 2K+ afte getting dividends, dow down 200+ currently.  with holiday coming, vol will be low across the board.  waiting to enter back after holiday.   cheers xkclzf      ( Date: 18-Dec-2012 00:04) Posted: the price didnt go up, so nobody pay attention on it? all sold it?

 

sold all at .335.  profit 2K+ afte getting dividends, dow down 200+ currently.  with holiday coming, vol will be low across the board.  waiting to enter back after holiday.

  cheers

xkclzf      ( Date: 18-Dec-2012 00:04) Posted: the price didnt go up, so nobody pay attention on it? all sold it?

 

the price didnt go up, so nobody pay attention on it? all sold it?

 

buy and pick up to keep long long i guess its ok. dont expect to party everyday

 

0.33 still can advisable to go in ?

 

wow tee intl next day make 2 bids already with healthy vol....ksh still neck long long? zzzzzz

 

lol still got people here....better look at their business partner tee intl...i made easy there

 

ksh...its ur showtime next week!!! yeah!

 

Still in this counter... feeling good at this counter...as i think its temp undervalue..anyway got dividends..so nothing to worry over this..

pcxiao2008      ( Date: 22-Nov-2012 12:43) Posted: u managed to get out yesterday? i missed it as i am not around with my comp.   now this stock go back to sleeping mode again.   frustration!  aimtowin      ( Date: 20-Nov-2012 10:11) Posted: It depends on ur own strategy Ba... If u have no confidence, then dun hold on cos it makes u upset Lor... Better sell and focus on other counter

 

bye KSH!   continue to stay sleepy....