sino grandness - undervalued stock

Joes
Offline
Platinum Member

10 years 11 months ago #14295 by Joes

Replied by Joes on topic sino grandness - potential undervalue stock

It's coming to 4 months already since SG proposed a bonus issue. See info.sgx.com/webcoranncatth.nsf/VwAttach...ease.pdf?openelement

If it finally comes through, the 1 bonus sh for 2 sh will bring the stock price down to about S$1.00.

Please Log in or Create an account to join the conversation.

Diversity
Offline
New Member

10 years 11 months ago #14296 by Diversity

Replied by Diversity on topic sino grandness - potential undervalue stock

Do you know why approval has yet to be granted to Sino Grandness for the bonus issue?
Other companies such as Mencast and Del Monte had their bonus shares issued already. Their initial proposals for bonus issues were rejected by SGX as the ex-bonus share prices were below 50c, and they had to lower the numbers of bonus shares to qualify.
For Sino Grandness, the ex-bonus share price was way above 50c when the proposal was made 4 months ago.

Please Log in or Create an account to join the conversation.

Joes
Offline
Platinum Member

10 years 11 months ago #14546 by Joes

Replied by Joes on topic sino grandness - potential undervalue stock

I think can forget about the proposed bonus issue. It seems to have been lost in some bureaucratic maze. Anyway, seeing how Sino Grandness has rebounded by 6 cents so far today, I am amazed at how much sentiment plays a part in price movements. Yesterday in particular, there was panic in the air. But why? I don't understand. The bloody Fed will taper QE, sure, but how does that change the valuation and fundamental growth potential of stocks such as Sino Grandness?

The following user(s) said Thank You: BNN

Please Log in or Create an account to join the conversation.

pine
Offline
Platinum Member

10 years 10 months ago #14632 by pine

Replied by pine on topic sino grandness - potential undervalue stock

DO U AGREE WITH ANALYST?

WEI Bin | Wait for the Next Milestone | BUY | Upside 18%

- Sino Grandness share price dropped from an all-time high of SGD1.60 to SGD1.355 (down 15%). However we see the recent share price weakness as a buying opportunity.

- Our channel check suggests that the new products Garden Fresh launched in 2Q13 have been well received by consumers. The biggest catalyst, the potential Garden Fresh spinoff, also seems to be on track.

- At the current valuation of only 5.1x FY13 PER, we are not too concerned about any downside risk. Reiterate BUY with TP SGD1.60.

Please Log in or Create an account to join the conversation.

Joes
Offline
Platinum Member

10 years 10 months ago #14806 by Joes

Replied by Joes on topic sino grandness - potential undervalue stock

Will analysts be revising their Target Prices after this morning's announcement? Stock has zoomed up to $1.38. Only a short stride to Maybank target of $1.60. Not much more upside?

SGX has approved spinoff of Garden Fresh for IPO.

infopub.sgx.com/Apps?A=COW_CorporateAnno...e_Announcement_1.pdf

Please Log in or Create an account to join the conversation.

yeng
Offline
Platinum Member

10 years 10 months ago #14852 by yeng

Replied by yeng on topic sino grandness - potential undervalue stock

Only 3 houses cover this stock? uobkh, maybank and osk. Why not more if this is a very exciting story that is unfolding?

Please Log in or Create an account to join the conversation.

Time to create page: 0.229 seconds