Sunningdale Technology - "Thoughts on the market".

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08 Jan 2014 03:33 #18568 by josephyeo
For your info :

BOARD OF DIRECTORS - Sunningdale Tschnology


Koh Boon Hwee (Non-Executive Chairman)
Khoo Boo Hor (Chief Executive Officer, Executive Director)
Wong Chi Hung (Executive Director)
Steven Uhlmann (Non-Executive Director)
Steven Tan Chee Chuan (Independent Director)
Gabriel Teo Chen Thye (Independent Director)
Kaka Singh (Independent Director)
Ong Sim Ho (Independent Director)


Other reasons for my pick on Sunningdale Technology :

1.it's an actively managed company as can be seen from the various initiatives undertaken by the company recently.


2.initiatives to improve efficiency/productivity

a) consolidating their European operation from Sweden to Latvia - from high costs to lower costs.

b) operations in Southern China from 3 plants to 2 plants - from 3 expense points to 2 expense points.

c) consolidate the Singapore operations from 2 to 1. And selling off the other, with the UFE operations relocating to the other plant in Singapore and the UFE operations to Johore. From 2 expense points to 1.


3. capital gain of S$5.43 mil through the sales of the operating plant in Singapore. This gain should be reflected in 2014 results. Improve cashflow n reduce debts.


4.others :

a) new plant in Batam on schdule and will start mass production in 4Q 2013.

b) new plant in Latvia on track for mass production in 4Q 2013. The capacity expansion is for a major Consumer/IT customer ... meaning that orders are quaranteed.

c) Tianjin plant set up for the launch of a major automotive program in 2014 is also on track.


Conclusion .. above initiatives are very major and strategic and have many implications on costs and efficiency/productivity. Cut costs where costs can be cut and increase capacity where there is a market for it. I think these are very good moves by the company.

................ end ...................

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08 Jan 2014 19:13 #18578 by Azzaramich
Good analysis. And good call.

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11 Jan 2014 18:52 #18613 by josephyeo
Sunningdale (SunningTech) is in an exciting phase of it's history.

In the past 2 years it had taken major initiatives to restructure the company - reducing Singapore operations from 2 plants to 1; reducing Southern China operations from 3 to 2 and moving it's Sweden's operation to Latvia.
Concurrently it incresed it's capacity in Latvia via a new mass production plant, open new mass production plant in Batam and launch a major automotive program in Tianjin. I view these initiatives positively. It's reducing costs where costs can be reduced and incresing production where there is a market for it.

The sales of it's plant in Singapore will give a capital gain of S$5.4 mil. This should be reflected in 2014 result.

Company is generous in it's dividend with a payout ratio of 28% to 94%. Last financial year the payout was 94% and a dividend, final n interim, of 1.2 cts was declared. Current year with a 9 month profit of S$9.5 mil, the dividend should be between 0.5 cts to 1.5 cts depending on the payout ratio.

You may wish to note that the 9 month result is already higher than last year full year result. So, they are likely to do better than last year.

Conclusion.
With capital gains, expected dividend n a more efficient company w it's going major restructuring ... I am very excited with the company.

ps : in investing things can go wrong n the market it is impossible to predict the market ... so do do your own analysis n do trade carefully. All the best !
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11 Jan 2014 22:02 #18614 by ngcheeki
Temasek Capital (Private) Limited has 4.89% stake in Sunningdale Tech based on the the following link.

sunningdale.listedcompany.com/stock_insider.html

The following is the merger announcement between Tech Group and Sunningdale in 2005.

ir.zaobao.com.sg/techgroup/news/techgroup120105_e.html

By the way, Fischer Tech another plastic precision company also look undervalued based on current price of 13.6 cents. The following is some of the financials for Fischer Tech

PE 11.27
Price to Book 0.46
Market Capitalisation 37.16M
dividend yield 4.41
Total Debt to equity 22.14
Average ROE 13.50

Vested on sunningdale but watching Fischer Tech

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15 Jan 2014 14:49 - 15 Jan 2014 14:57 #18654 by ontheball
Wow, Mr. Sunningdale is going gang busters today. The price is charging up like a mad man! Joe Yeo must be laughing all the way to the bank. You deserve it man, I read your analysis and bought a few shares of this beauty too. Thanks buddy, you rock.
Last edit: 15 Jan 2014 14:57 by ontheball. Reason: content

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15 Jan 2014 15:20 #18656 by GEO
Sunningdale share price up a lot today, good for those who buy at cheap prices.

With the huge rise comes along with SGX trading activity query too.

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