Sinostar Pec

Chairman continues to buy:

1 Oct: 360,500 at 23.06 cents.

Lots of buying by non-executive chairman. Is it attractive ?
Acquisition of Dongming Qianhai completed in Dec 2018, will contribute to earnings from 2019.

I notice Sinostar trading has picked up in the last few days and share price has rebounded to 19.8 cents .


Likely due to investor interest returning + Chairman buying again.

2Q results was disappointing, hope Sinostar, as a large producer of downstream petrochemical products, can reap synergies in 3Q onwards from its Dec 2018 acquisition.

Strong share price run today after reporting 1Q profit: Sgd$12 million.
annualised = $48 million.

Market cap now  SGD163 million today.
thus, PE is about 3.4X 
This year will see full-year contribution from the new polypropylene plant -- high margin product!