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S$0.177- SUNN SP
Sunningdale Tech (ST) an electronic component
manufacturer was queried by SGX due to
yesterday’s higher than normal volume of 130mln
shares traded against its usual 2-3mln.
In response, ST’s CEO Khoo Boo Hor said that
the board is not aware of any information that
may explain the heavy trading and while the company
is currently looking at setting up a green-field
operation in Brazil, it is at a preliminary stage and
initial investment is likely to be below US$1mln,
hence would not have been the reason for the
sharp increase in share price as well as trading
Fact is, since registering a $20mln loss in 4Q’11,
ST’s bottom-line has been gradually improving from
$1-2mln range to 3Q’13’s $3.8mln while 9 month
profit rose 38% to $9.6mln on the back of new
customer and product contributions.
And it has turned slightly net cash in 3Q’13.
Based on its last closing price of 17.7 cents, its market
cap is $135mln, price to book is 0.55x, trailing PE is
11x and dividend yield based on last 3 year’s dividend
of 0.6 cents a share is 3.4%.
Major shareholders of the company include Steven
Kent (13.6%) a non-executive director and Koh Boon
Hwee (4.86%) the company’s Chairman.
Since bottoming-out at 8 cents at the end of 2011,
ST’s share price has been on a tear and on an intraday
basis had hit 19.4 cents yesterday, before pulling
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