Techcomp

From CIMB, target price of Techcomp now 83 cents. This is almost 100% upside potential from the current 45 cents.


Reiterate BUY rating, with target price increased to S$0.83,
(previously S$0.55) based on 8x rolling into CY12 P/E to reflect TCH’s
strong industry traction and market expansion strategy (though still at
1/3 the multiples global peers are trading at).

• TCH is severely undervalued despite recent share price
outperformance. TCH offers excellent value at 4.4x CY12 P/E
against 3-year core earnings CAGR forecast of 27.5%. Stock catalysts
could come from: 1) fast-tracked expansion through M&As of key
scientific instruments space; 2) possible listing in other exchanges
could catalyse its share price further, notwithstanding compelling
valuations.

Great Singapore Sales! This is a good time to buy some fundamentally sound stocks with dividends and growth. What a great opportunity!!

Proposed Dual Listing on the Main Board of The Stock Exchange of Hong Kong Limited (the "SEHK")

Techcomp (Holdings) Limited (the "Company" and together with its subsidiaries, the "Group") wishes to announce that the Company intends to seek a dual primary listing of its ordinary shares (the "Shares") on the Main Board of the SEHK (the “Proposed Listing”).


The Directors of the Company (the “Directors”) are of the view that it is desirable and beneficial for the Company to have dual primary listing status in both Singapore and Hong Kong so that the Company can have ready access to these different equity markets in the Asia Pacific region when the opportunity arises.

The two markets also attract different investor profiles thereby widening the investor base of the Company and increasing the liquidity of the Shares. Further, listing on the SEHK may enhance the Company's profile in Hong Kong and the People’s Republic of China, facilitate investment by Hong Kong investors, enable the Company to gain access to Hong Kong's capital markets and benefit the Company by exposing it to a wide range of private and institutional investors. The dual primary listing of the Shares in Hong Kong is in line with the Group’s focus on its business operations in the People’s Republic of China, which is important for the Group’s potential future growth and long term development.

Great news to Techcomp's shareholders!
Go Hong Kong where investors know its true value and give it a deserved 15x PE.
Singapore equity market is hopeless now. It can only attract REITs and Trusts for yield plays. In a few years' time, I believe all the good companies will leave Singapore equity market for other markets.
Revised my personal fair value estimate for Techcomp to S$1.20 now.
 
 

I doubt Techcomp can reach $1.20 - Now it's at 46 cents which is a solid level, reflecting a resilience that amazes a lot of investors. It is now at PE of 8X historical, and to double in stock price would take it to 16X, which is too dizzingly high even if you factor in a growth rate of 30% for its EPS this year. Nonetheless, it has been a solid performer this year .

Kabouter bought another 302,000 shares of Techcomp - announcement this morning.
The fund now has 23,312,000 shares for a 10.03% stake.

They are backing up their words with action! They discussed their views on Techcomp in this report a few days ago:

TECHCOMP: US fund manager, major shareholder shares insights with analysts