We highlight 2 companies which are off the radar of many investors. Their shares, however, have just been accumulated by insiders.


> Avi-Tech Electronics had a horrible FY12 ended June, suffering a net loss of S$8.2 million compared to a $1.1 million profit in FY11.

The loss was primarily due to the poor performance by its U.S. subsidiaries (Imaging Equipment and Energy Efficient Products business segment), which incurred high operating and development costs while developing new products.

(For more on the results, click here for its press release)


Its stock price has fallen to 7.4 cents, down 26% in the year to date.

It didn’t declare a final dividend nor an interim for FY12, as it did in FY11 of 0.5 cent a share in total.

No. of shares bought

Price

Date

Latest stake

Goh Chung Meng (director)

100,000

7.12 cents

31 Aug

180,000

Company share buyback

400,000

7.1-7.3 cents

3 Sept

Avi-tech_gohchungmeng
Avi-Tech independent director Goh Chung Meng.

The positives:

> Net Asset Value stood at 15.28 cents a share, or 100% higher than its stock price.

> Cash and cash equivalents stood at $33.6 million, while bank borrowings was $8.6 million.

The net cash is the same as the market cap ($25.8 million).

Its independent director, Goh Chung Meng, has increased his holding of Avi-Tech shares, as has the company through its share buyback mandate (see table above).

Mr Goh is also a director of ACE Investment Management Pte Ltd, a boutique private equity investment company.


 

No. of shares bought

Price

Date

Latest stake

Tey How Keong

(CEO)

500,000

29 cents

28 Aug

1 m (direct); 244.8 m (deemed)

500,000

29 cents

27 Aug


> JB Foods
is not too well-known among Singapore investors as it is a newly-listed company, which is in the business of producing cocoa ingredients in Malaysia.


The ingredients are cocoa butter, cocoa powder, cocoa liquor and cocoa cake, which are used to produce chocolate, chocolate confectionary, as well as cocoa-related food and beverages.

Its CEO, Tey How Keong, bought 1 million shares for his own account just a month after its IPO.

His purchase price of 29 cents was a whisker below the IPO price of 30 cents.

He has a 50% direct and indirect interest in major shareholder JBC Group, which sold 8 million vendor shares during the IPO.


JBfoods_products
JB Foods produces these products and exports them worldwide to customers ranging from international trade houses to end-users such as F&B and confectionery manufacturers.


For 1H2012, JB Foods achieved revenue of RM271.6 million (down 21.3% year on year) and a net profit of RM22.5 million (down 11.4%). 

JB Foods is recommending a one-tier tax exempt interim dividend of 1 cent per share.


Share Prices

Counter NameLastChange
AEM Holdings3.110-0.020
AusGroup0.024-0.001
Avi-Tech Electronics0.380-0.005
Best World Int.1.360-
CEI0.860-0.040
China Sunsine0.380-0.005
CNMC GoldMine0.205-
CSE Global0.430-0.005
Eagle HTrust USD0.137-
Food Empire0.5050.005
Golden Energy0.1740.004
GSS Energy0.065-0.002
ISDN Holdings0.2200.022
ISOTeam0.125-
JB Foods0.490-0.015
KSH Holdings0.3050.005
Miyoshi0.0290.002
Moya Asia0.063-0.001
Nordic Group0.225-
Oxley Holdings0.235-0.005
Procurri0.265-0.010
REX International0.140-0.003
Riverstone2.1900.010
Roxy-Pacific0.3450.010
Sing Holdings0.320-0.010
SingMedical0.245-0.015
Straco Corp.0.505-
Sunningdale Tech0.9450.005
Sunpower Group0.4550.005
The Trendlines0.109-0.004
Tiong Seng0.152-
Uni-Asia Group0.470-
Yangzijiang Shipbldg0.935-0.010

NextInsight RSS

rss_2 NextInsight - Latest News

Online Now

We have 440 guests and no members online