sumer, your star pick Design Studio touched 70 cents today! The stars are aligned! Hope they give good dividend too, since their profits will be so huge for 2009.:laugh: :laugh: :laugh:
High profits does not necessarily mean high dividends, because profits are not equal to cash.
musicwhiz, you are absolutely right! But I wish to highlight 2 forecasts from the Kim Eng Research report. a) It gives the net cashflow as $5.3 m for 2009, which is lower than $9.1m in 2008 and $19.2 m in 2007. 2009 seems to be some sort of bottom, becos cashflow rises to $10.5 m in 2010 and (*(OMG)) $24.8 m in 2011. b) the Dividend payout for 2009 is expected to be 3.2 cents a share (*compared to 1.0 in 2008). As a matter of fact, Design Studio paid out 1.25 c as interim div (which is already higher than the full-year 2008 div of 1.0) U can read the full report at
www.designstudio.com.sg/investor.htm
Hiap Seng reported today 9M net profit of $23.4m, up from $8.9m last year (+163%). EPS for 9M = 7.7cts. Co is in a net cash position, with cash bal of $31.3m. Full year EPS shd hit 10cts, giving stock a PE of abt 6.2X. During the rebound these few days, UBS was the buyer for some trades done. Design Studio is also due to report full year results these couple of weeks. The overall stock mkt is, however, rather weak, and this does not bode well even for stocks with good fundamentals (although they could be relative outperformers).
Yes, cool! It\'s a very improved performance. Will check it out. Noted that the order book is S$216 million, which is decent but not sizzling. U agree?
DBS Securities maintains buy call for Hiap Seng after yesterday\'s results, upped tgt price from 90cts to 94cts, citing: a. Q3 profits above expectations. b. Raising FY10-11 profits up by 8-12%. c. Reasonable Div Yield of abt 6-7%. Order book is $216m, up 9% quarter on quarter. It\'s not sizzling, and probably so bcos of a market that is still hesistant in the rebound. Compared to other engineering companies, it\'s probably outperforming.
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U can read the full report at
www.designstudio.com.sg/investor.htm
