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Warren is correct. At the last AGM on 27 April 2011, CEO Seow was speaking with optimism that Yongnam stood very good chance to get contracts this year, the construction climate in Singapore, Hong Kong and middle east. In short, the summary as follows:
a. As of 27 April 2011, Yongnam was tendering for S$1.35 billion. Chance of getting contract is approx 33% which works out to be S$ 450 million this year. the results looks very good as Yongnam clinched Sports Hub (S$75 million) Singapore Museum (S$50 million) and Hong Kong MRT (S$ 49 million) these 2 months.
b. Yongnam has extensive assets approx 150,000 MT of strutting steel worth approx S$250 million. This will place Yongnam in great position to clinch the MRT projects, and this also serves as barrier to others to enter local market. CEO Seow stated that the specialised strutting contracts will likely to be awarded in 2nd half 2011. Downtown Line 3 is huge MRT infrastrature project and Yongnam is now talking to main contractors. Good chance of success in Downtown Line 3 project, about 50%.
c. Based on year ending Dec 2010, EPS is 4.38 cents. Assuming conservation 10% growth, Yongnam shares should be worth 43.8 cents. Assuming 15% and 20% growth, should be worth 65.7 cents and 87.6 cents. Analysts are fully aware of these. Construction will be doing very well these 3 years at least. Government is pushing all out for record HBD flats and massive infrastructure projects for growing population. Good luck to all Yongnam investers and have patience. Who knows, Yongnam may be more than 50 cents in 2012. An analyst is predicting STI to hit 4200 in 2012. US Presidential election is in Nov 2012, there is no way the Obama administration is going to allow USA to slip into recession. QE3 is the talk of town and may be implemented soon.
During this few time when STI lao sai a lots, Yongnam and TS didnt drop much or even didnt get affected by bad news, that why i like them. Those counter that didnt get affected too much by bad news is safer to play during this siao market times. U need to focus stock that r more defensive during this bad times, so u can eat better, sleep better and sex better :)
Unless stock crash, but thats still too early too tell.
bryancbq ( Date: 02-Jun-2011 09:58) Posted:
| freaking yongnam. sti laosai, at least drop abit for me la. =.= |
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freaking yongnam. sti laosai, at least drop abit for me la. =.=
Soon. LOL!
:)
wa warrenbeggar. u no need sleep one ah? haha
warrenbegger ( Date: 01-Jun-2011 01:00) Posted:
Just 5 month Yongnam secures 5 contract, avg of 1 per month. Already very good liao, still got 6 month to go for more contract. And mosty Govt contract!
15 Mar- Mrt North-South Line worth 23.5 M
07 Apr- NUH Medical Centre worth 19 M
10 May- Singapore Sport Hub worth 75 M
19 May- National Art Gallery worth 50 M
31 May- Hong Kong Express Rail Link worth 49 M
Total for this year till now is 216.5 M. And total orderbook till now is around 600 M+ (Going to hit its highest record orderbook soon, or hit liao?) |
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Just 5 month Yongnam secures 5 contract, avg of 1 per month. Already very good liao, still got 6 month to go for more contract. And mosty Govt contract!
15 Mar- Mrt North-South Line worth 23.5 M
07 Apr- NUH Medical Centre worth 19 M
10 May- Singapore Sport Hub worth 75 M
19 May- National Art Gallery worth 50 M
31 May- Hong Kong Express Rail Link worth 49 M
Total for this year till now is 216.5 M. And total orderbook till now is around 600 M+ (Going to hit its highest record orderbook soon, or hit liao?)
http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_8FE78BF244409DBF482578A100299101/$file/YHL-PressRelease31052011.pdf?openelement
YONGNAM SECURES HK$300 MILLION (S$49 MILLION) SUB-CONTRACTS FOR THE HONG KONG SECTION OF THE EXPRESS RAIL LINK
Singapore, May 31, 2011 – Yongnam Engineering (HK) Limited, a wholly-owned subsidiary of Yongnam Holdings Limited (" Yongnam" or the " Group" ), a leading and well established structural steel contractor and specialist civil engineering solutions provider, has secured HK$300 million (S$49 million) worth of specialist civil engineering sub-contracts for the Hong Kong Section of the Express Rail Link (" XRL" ).
The two sub-contracts are part of the 26-km long Hong Kong Section of the Guangzhou-Shenzhen-Hong Kong Express Rail Link which runs from West Kowloon in Hong Kong to the boundary with Shenzhen, People’s Republic of China. The Express Rail Link, expected to complete by 2015, will connect with the 16,000-km National High-speed Railway Network and will enhance Hong Kong’s role as the southern gateway to the Mainland, China.
Mr Seow Soon Yong, Chief Executive Officer of Yongnam said: " We are proud to be awarded these two sub-contracts of the XRL Project. This reflects the confidence of our business partners in our engineering expertise and proven ability to deliver on major, challenging projects. These contracts will further enhance the Group’s solid track record in specialist civil engineering projects."
Works on the sub-contracts are expected to be completed in 2013. The contracts are expected to have a favourable impact on the Group’s financial performance for the year ending December 31, 2011.
Other notable specialist civil engineering projects that Yongnam has undertaken include the Kallang-Paya Lebar Expressway and MRT Circle Line. The Group is currently undertaking the Marina Coastal Expressway and MRT Downtown Line projects.
http://www.remisiers.org/cms_images/research/Research-29Nov-03Dec/sgconstruction_011211_all_DBSV.pdf
Accelerated building of new HDB flats will spur construction and basic materials demand.
Award of public transport project tenders will drive civil engineering works in near term.
Valuation of construction stocks remains depressed.
Our top picks are Tiong Seng, Pan-United Corp, Yongnam and OKP Holdings.
Pls dont listen to anyone, u must do your own research so if anything go wrong u dont complian, is your own money so invest carefully.
Above is a past link to DBSV research report on singapore listed construction sector company, it will take effect after Govt start to wake up.
warrenbegger ( Date: 27-May-2011 01:52) Posted:
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YONGNAM REGISTERS ANOTHER RECORD QUARTERLY NET PROFIT OF S$15.0 MILLION FOR 1QFY2011
Gross profit margin climbs to record 33.2%
“Going forward, we are looking at potential contracts locally which include both infrastructure projects like the MRT Downtown Line Phase 3 and the National Art Gallery as well as other commercial projects. At the same time, we are also actively pursuing infrastructure projects which include airport terminals and MRT projects in addition to commercial projects in Hong Kong, Malaysia, India, Abu Dhabi, Qatar, Oman and Saudi Arabia. The Group is also planning to tap new markets in Europe, targeting offshore structures. With the record profit achieved in 1QFY2011 providing a strong headstart and a healthy order book of S$410 million as at March 31, 2011, the Group is optimistic that it will continue to perform well in FY2011.
Contract win momentum continues
http://www.remisiers.org/cms_images/research/May16-May20/ynh200511-flashnote_buy_DBSV.pdf
Yongnam Holdings announced that it has secured another structural steel contract worth S$50m for the restoration works to the former Supreme Court building and the former City Hall building. The restored buildings will house the future National Art Gallery, and the new National Art Gallery will be the largest visual arts venue in Singapore when it opens its doors in 2014. This is the fourth contract announced by Yongnam YTD, and comes close on the heels of the Singapore Sports Hub contract worth S$75m secured earlier this month. These landmark contract wins further cement Yongnam's position as the leading structural steelworks specialist in Singapore. With this contract, we estimate new order wins YTD in FY11 should add up to approximately S$200m, including unannounced contracts. This translates to more than 50% of our full-year order win projections of around S$370m, and should enhance Yongnam's current orderbook to over S$500m. We remain bullish on the Company's prospects and maintain our BUY call with TP of S$0.38. More contract wins, especially from the Downtown Line 3 projects in the next 6-12 months, should provide further catalyst to the share price. |
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Yongnam PE of 5.9, Profit margin of 20%+, ROE of 23%+, ROA of 10%+ is really very good as a construction company. In the year 2008 crisis, Yong nam still can post record profit, die hard company. With 3 year Avg of high revenue 330M+, orderbook of 500 M+ will still give them good earning for this 2 years. First Strong support is at 0.255. second strong support is at 0.235. I was waiting yong nam to pull back more but still hang strong at 0.255 after those STI lau sai. So i load some first and will AD again if drop more, i think wont drop too much liao because there still healthy pipline of potential infrastructure projects in singapore coming soon. Construction sector really need govt to push up, if not many can go fly kite liao. This 3 years i think still can play construction, after all those need to build all build finish liao, i think most of the weaker company can close shop liao. Wish Yong nam really can goes up over 0.310 again, if not tell them go Gum lan liao...
strong support at 24cents and strong resistance at 30cents.... this pattern for 8months already...
Thats what most of us are doing ... just side line.. talk rock , sing long.. and play drums .. till bird show also don't know..
On 23 of may monday when STI fall into sai kang and lost 58 point on pain and panic selling. Yong nam and Tiong seng still stand strong, thats one of the point i like in them. I like safer stock in this siao rubbish market now, at least they make me sleep better and run with ease when shit happen again. This r the 2 construction that i like most because govt is their main boss, so when market turn upside down, at least they still get their pay check without void. I had also load chip eng at 0.450 and sell off at 0.510 and replay 0.470 and sell again 0.495 a few time. Now chip eng is at a high side so i avoid it for now, not everytime so lucky can load low and sell high. Sometime luck, sometime F**k, just one thin line in win or lose. I totally miss lian beng and OKP cause their px so high liao, scare to be idiot. I dont had to said too much how good a company is, many of u is clever to do your homework, except got one ah siao everytime very high on drug and drunk anyhow whack mirco @ss-shit. Sometime investing is very boring, wait wait wait and wait, so during this time at least can chit-chat in forum, or find love bird to play :) Forum is still a good way to know tips, advise and even goodwill warning. Better than Die and dont know why :)
U on drug or drunk liao???
Burn all my house? LOL!!!
But i still love U :)
Dont deny my love for U :)Hulumas ( Date: 27-May-2011 10:41) Posted:
The game is over! Long term prospect is dim! Subjected to slow but sure long term downward trend! AVOID, awaiting share price to go down and breaking to < Sgd. 0.09 then reentering again!
warrenbegger ( Date: 27-May-2011 01:52) Posted:
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YONGNAM REGISTERS ANOTHER RECORD QUARTERLY NET PROFIT OF S$15.0 MILLION FOR 1QFY2011
Gross profit margin climbs to record 33.2%
“Going forward, we are looking at potential contracts locally which include both infrastructure projects like the MRT Downtown Line Phase 3 and the National Art Gallery as well as other commercial projects. At the same time, we are also actively pursuing infrastructure projects which include airport terminals and MRT projects in addition to commercial projects in Hong Kong, Malaysia, India, Abu Dhabi, Qatar, Oman and Saudi Arabia. The Group is also planning to tap new markets in Europe, targeting offshore structures. With the record profit achieved in 1QFY2011 providing a strong headstart and a healthy order book of S$410 million as at March 31, 2011, the Group is optimistic that it will continue to perform well in FY2011.
Contract win momentum continues
http://www.remisiers.org/cms_images/research/May16-May20/ynh200511-flashnote_buy_DBSV.pdf
Yongnam Holdings announced that it has secured another structural steel contract worth S$50m for the restoration works to the former Supreme Court building and the former City Hall building. The restored buildings will house the future National Art Gallery, and the new National Art Gallery will be the largest visual arts venue in Singapore when it opens its doors in 2014. This is the fourth contract announced by Yongnam YTD, and comes close on the heels of the Singapore Sports Hub contract worth S$75m secured earlier this month. These landmark contract wins further cement Yongnam's position as the leading structural steelworks specialist in Singapore. With this contract, we estimate new order wins YTD in FY11 should add up to approximately S$200m, including unannounced contracts. This translates to more than 50% of our full-year order win projections of around S$370m, and should enhance Yongnam's current orderbook to over S$500m. We remain bullish on the Company's prospects and maintain our BUY call with TP of S$0.38. More contract wins, especially from the Downtown Line 3 projects in the next 6-12 months, should provide further catalyst to the share price. |
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Don't worry guys... bulls will come charging soon.. Huat AH!!!
To ofcourseme,A BIG THANKS.Never expect anyone to notice my posts.
To medivh.Ya hor,i still have 300 lots CGX kena suspended.I nearly forgotten.Ouch,not really painful leh.Might not be really good in shares but quite blessed that still can afford it.
Anyway,Thanks for reading all my previous post to notice my loss.1 or 2 exchange in posting(didnt really see eye to eye)can sparks such a comment.Really amazing.
I think i better dont post anymore,if not will attract attention and becomes a new public enemy.
medivh ( Date: 27-May-2011 20:40) Posted:
ok , actuallyits ok u called me guru and idiotic.. though I never claim any of that :) but here goes....
Gavin is vested more in CGX.. so should wish him more luck for that counter, since we all know what happens to that counter already, and how it sparks off the spate of bad reputation surrounding S-chips.. and we know how emotions are erratic esp. when it comes to stocks that turn out sour.
but nevertheless, GOOD LUCK! you guys need it..
ofcauseme ( Date: 27-May-2011 18:02) Posted:
| gavinl,gavinl,according to what medivh said,i m curious and read most of your posting and notice that u r quite a mild n humble person who is mostly asking others for their opinion.Tink this is the 1st time u answer with sacarsm.Y care n bother by so call idiotic guru said? If u really want advice,ask master alex or master ak francis etc.These 2 master r the most sane n accurate[96 percent zun],the rest r merely posting for attention.Wish u success n luck in your yongnam |
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ok , actuallyits ok u called me guru and idiotic.. though I never claim any of that :) but here goes....
Gavin is vested more in CGX.. so should wish him more luck for that counter, since we all know what happens to that counter already, and how it sparks off the spate of bad reputation surrounding S-chips.. and we know how emotions are erratic esp. when it comes to stocks that turn out sour.
but nevertheless, GOOD LUCK! you guys need it..
ofcauseme ( Date: 27-May-2011 18:02) Posted:
gavinl,gavinl,according to what medivh said,i m curious and read most of your posting and notice that u r quite a mild n humble person who is mostly asking others for their opinion.Tink this is the 1st time u answer with sacarsm.Y care n bother by so call idiotic guru said? If u really want advice,ask master alex or master ak francis etc.These 2 master r the most sane n accurate[96 percent zun],the rest r merely posting for attention.Wish u success n luck in your yongnam.
gavinl ( Date: 27-May-2011 16:55) Posted:
| Ya loh,just like ppl who are so confident in themselves but refer to this forum (nothing better to do) and " suan" others as a past time.LOL X2. |
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hehe thats not from LEO AIKMAN.
Do your research mate :)
gavinl ( Date: 27-May-2011 17:09) Posted:
| I got no better choice but to agree to you this time.-leo aikman |
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gavinl,gavinl,according to what medivh said,i m curious and read most of your posting and notice that u r quite a mild n humble person who is mostly asking others for their opinion.Tink this is the 1st time u answer with sacarsm.Y care n bother by so call idiotic guru said? If u really want advice,ask master alex or master ak francis etc.These 2 master r the most sane n accurate[96 percent zun],the rest r merely posting for attention.Wish u success n luck in your yongnam.
gavinl ( Date: 27-May-2011 16:55) Posted:
| Ya loh,just like ppl who are so confident in themselves but refer to this forum (nothing better to do) and " suan" others as a past time.LOL X2. |
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my friend holding this stock at 0.39 x 100 lots and another friend 30 lots at 0.50 few years back.
TradeChancellor ( Date: 27-May-2011 07:51) Posted:
Yongnam is currently my heaviest investment of 120 lots @ 30cents exactly....and 30cents is a point of heavy resistance... however breaking this stubborn point with high volume may mean a pleasant ride up to the mid to late 30s cents.... |
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I got no better choice but to agree to you this time.-leo aikman
