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Reasons for my pick :
1. decent profits for the past 3 years
2012 - S$9,562,000
2011 - S$16,700,000 (before impairment .. see note)
2010 - S$18,900,000
(Note : 2011 company registered a loss of S$11,420,000
due mainly to impairment charges of S$23,700,000 and currency loss of S$4,400,000. Without the impairment charges n currency loss the company would have registered a profit of S$16,700,000.)
2. good profit trend in the last 3 quarters :
Jan - Mar '13 - S$2,313,000
April - June '13 - S#3,516,000
July to Sept '13 - S$3,796,000
Jan to Sept '13 - S$9,562,000.
(Note : the profits of the first 9 months of current financial year is almost equal to the whole of last year implying a huge improvement over last year)
3. expect good dividend payout.
the dividend payout ratio range from 28% to 94% in years when they are profitable. Last year payout was exceptionally high with a payout ratio of 94.5% which worked out to 1.2 cts per share giving a yield of 8.5% on current price of 14 cts.
a fairly good dividend can be expected this year as company has registered a profit of S$9.5 mil on it's 9 months result.
4. trading far below it's nta.
Nta 30.59 cts against current price of 14.1 cts as of date n time of posting.
5. massive restructuring
there is a massive restructuring going on in the company which i view positively and is likely to put the company into a more competitive position. Will deal with this later.
................ end for now ...............
|Geo Energy Res||0.385||-0.005|
|Southern Alliance Mining||0.805||-0.005|
|Sri Trang Agro||1.360||-0.010|
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