KSH Holdings
Disclaimer : This is my personal opinon on KSH holdings. It is not a buy/sell call. For all trades, please have your own Stop loss and Profit taking level. I will not be responsible for any losses that you made. This is merely for my own interest and sharing.
KSH Holdings result will be out on 2 Nov.
KSH is a well established construction, property development and property management group with operations in Singapore, Malaysia and the PRC. Our Group's principal activities are as follows:- construction in Singapore and Malaysia; and property development and property management in the PRC. We act as main contractors in construction projects for private and public sector customers in Singapore and for private sector customers in Malaysia. (ShareinvestorI.com)
Full analysis based on charting is on the image below.
Future : 31.5 cents - 32 cents seems to be zone of accumulation. Will be looking out for a test bar again, any confirmation of a test will indicate strengths and KSH could be back in wave 2 soon.
Fundamentally : KSH Holdings: Earnings growth at deep value - upgrade to BUY Summary: Due to a rapid sales pickup at a key project, Cityscape@Farrer Park, we now forecast for FY13 (ending Mar 13) earnings to surge 68%. Similarly, we expect FY14 earnings to increase 73%. We see sustained earnings growth as a key price catalyst ahead, particularly as continued market liquidity seeks out deep value laggards like KSH (0.6x trailing PB, 3x FY13E PE). We also note KSH has been actively buying back shares near current levels – which management views as severely undervalued – and has a mandate to purchase up to a quarter of its free float, with ample cash (S$53m) to do so. Finally, we see a major re-rating as likely imminent given KSH’s transition, over the last two years, from a cash-hoarding contractor to an property player actively managing shareholders’ capital – deploying capital into accretive site acquisitions and returning excess cash via dividends and share buy-backs. Upgrade KSH to BUY as our key small-cap conviction idea. Our FV increases to S$0.50, from S$0.26 previously, as we lower the RNAV discount to 50% to reflect active capital management, better-than-expected real estate execution, and a still resilient construction order book. (Eli Lee)
Full report details @ http://www.ocbcresearch.com/Article.aspx?type=research&id=20120921101750_27677
Past few years Dividends summary
Update on 29 october : Closing on 31 cents looks like a no demand bar for me. Waiting for further confirmation.
Update on 30 Oct : Closed at 31 cents. No demand bar? But my gut feel is that BB is still accumulating the stocks looking from times and sales.
Update on 31st October : Closed at 32 cents. But most of the trades were done at 31.5 cents. No trades done at closing. Clawed back from 31 cents close. Seems healthy to me
KSH Holdings result will be out on 2 Nov.
KSH is a well established construction, property development and property management group with operations in Singapore, Malaysia and the PRC. Our Group's principal activities are as follows:- construction in Singapore and Malaysia; and property development and property management in the PRC. We act as main contractors in construction projects for private and public sector customers in Singapore and for private sector customers in Malaysia. (ShareinvestorI.com)
Full analysis based on charting is on the image below.
Future : 31.5 cents - 32 cents seems to be zone of accumulation. Will be looking out for a test bar again, any confirmation of a test will indicate strengths and KSH could be back in wave 2 soon.
From OCBC Research
Fundamentally : KSH Holdings: Earnings growth at deep value - upgrade to BUY Summary: Due to a rapid sales pickup at a key project, Cityscape@Farrer Park, we now forecast for FY13 (ending Mar 13) earnings to surge 68%. Similarly, we expect FY14 earnings to increase 73%. We see sustained earnings growth as a key price catalyst ahead, particularly as continued market liquidity seeks out deep value laggards like KSH (0.6x trailing PB, 3x FY13E PE). We also note KSH has been actively buying back shares near current levels – which management views as severely undervalued – and has a mandate to purchase up to a quarter of its free float, with ample cash (S$53m) to do so. Finally, we see a major re-rating as likely imminent given KSH’s transition, over the last two years, from a cash-hoarding contractor to an property player actively managing shareholders’ capital – deploying capital into accretive site acquisitions and returning excess cash via dividends and share buy-backs. Upgrade KSH to BUY as our key small-cap conviction idea. Our FV increases to S$0.50, from S$0.26 previously, as we lower the RNAV discount to 50% to reflect active capital management, better-than-expected real estate execution, and a still resilient construction order book. (Eli Lee)
Full report details @ http://www.ocbcresearch.com/Article.aspx?type=research&id=20120921101750_27677
Past few years Dividends summary
Update on 29 october : Closing on 31 cents looks like a no demand bar for me. Waiting for further confirmation.
Update on 30 Oct : Closed at 31 cents. No demand bar? But my gut feel is that BB is still accumulating the stocks looking from times and sales.
Update on 31st October : Closed at 32 cents. But most of the trades were done at 31.5 cents. No trades done at closing. Clawed back from 31 cents close. Seems healthy to me
Update on 2nd Nov : High volume before result day. First day of mark up? Let's see....
Update on 5th nov : Apparently, the SGX gateway gives me the wrong date the company will be issuing its result. From Bloomberg, estimated date for its release of its result will be 9th Nov 2012. i feel that this stock still has room to push through, I have not see any climatic action yet. Thus, holders of these stocks should still keep them and wait for its result or any climatic actions to be seen yet.
Risk mode is now, waiting for UT.
Update on 5th nov : Apparently, the SGX gateway gives me the wrong date the company will be issuing its result. From Bloomberg, estimated date for its release of its result will be 9th Nov 2012. i feel that this stock still has room to push through, I have not see any climatic action yet. Thus, holders of these stocks should still keep them and wait for its result or any climatic actions to be seen yet.
Risk mode is now, waiting for UT.
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