Category: Kingsmen Creatives

Buy @ $0.945

Itchy fingers… New stock to current portfolio. 😀

Didn't do any studies except for the regular Quarterly additons to my spreadsheet, which I started in Jan-13 when there was a Special Situation (Prices dropped when irregularities were discovered and CAD was involved – don't think case has closed).

Currently cd for 2.5ct (2H13), unchanged since FY10. xd on 19-May. Some figures,

• PE = 9,87
• Yield = 4.233% (Not that great)
• Cash = 32.96ct / share or Net (of Debts) = 30.6ct (but they have been planning to buy their own building)
• Low Debts = $4.5Mil
• Revenue +2.1% ; Net Profit +8.1%

The biggest problem is Illiquidity, very low vol. Both co-founders are getting old… still hanging on, giving shareholders hopes of a company sale…

Plan for short term trade, to let go before xd. But, can also hold for longer term as no urgent need for free cash….

The forward statement sounds good for FY14. Extracts from Q413 Financials,

The Group’s Exhibitions and Museums division expects 2014 to be a good year as the region continues its economic growth, and as business and lifestyle events become more influential in their role in how corporates and brands engage their customers. The museum and thematic business likewise is expected to do well, given the various projects already in the works, and the several more that are in the pipeline.

The Group’s Retail and Corporate Interiors division is expected to maintain its momentum, as new malls emerge across the region, and as brands introduce new ways to engage their customers through brand extension and revival programs, This coupled with the continued entry of international brands into the region and the expansion of well-established brands into newer markets such as travel retail, ensure continuing business for the division.

As at 26th February 2014, the Group has secured contracts of approximately S$138 million, of which S$117 million is expected to be recognized in FY2014. With the strong pipeline of contracts and planned developments in the region, The Group expects 2014 to be a good year, barring unforeseen circumstances.

 

References :

• Q413 (Dec) Financials
• AR2013

Sell @ $0.875

My last lots, no more left. After queueing before it finally got done, it proceeded to hit higher and closed @ $0.89. Looks like another stock which I'd sold too early! STI closed @ 3313.03, +24.5. Nice, so many '3's, above 3300 again. Looks like Cyprus bailout has become a distant memory… 😀

Sell @ $0.86, $0.865

Didn't manage to sell all, left some lots. Have decided to continue with my divestment even though mkt seems bullish as Cyprus issue seems resolved. Will look at it again below 85ct, ideally closer to 80ct. 😀

Sell @ $0.85

Decided to take some profit as this is another of my identified candidate to likely correct more in times of uncertainty. PE = 9.52 ; Yield = 4.7% ; Cash = 28ct ought to provide some strong support for a while. Still, their biz is largely dependent on the state of the economy and their low NPM of 5-7% don't provide a lot of margin of safety.

Someone is collecting patiently at 85ct and only showed hand during the last few minutes. They didn't bite at my bait @ 85.5ct, so stingy… 😀

Buyer CP '08' = Credit Suisse & '12' = Lim & Tan. Maybe it's the same person who'd paid 87ct in a large married deal last week.

Buy @ $0.73, $0.725, $0.72, $0.715, $0.705

A new stock to my portfolio. They were halted since Friday, after market closed. The share price was running up then. There were a lot of positive speculations in VB forum that it's finally their dream G.O. coming true. This AM, they dropped a bombshell in their SGX Annc when they announced their results of a fraud / dishonesty investigations. The total amount involved is ~$1.5M which will be set off in their P/L. No one was fired but the case is now in the hands of CAD.

Their biz is in Interiors for shops (eg. Hour Glass, Motor Cars showroom,…) + Exhibitions + Theme Parks. Two unrelated main shareholders controolinmg ~50%. Net cash (according to VB forummers, the plan is to acquire their own premises) and decent yield ~6%. Net Profit is quite flat for the past 4 years but EPS shows a bit of growth as they had been doing shares buy back. The talk in VB forum had been on a good possibility of G.O. as both the major shareholders cum founders are getting old and are keen to retire.

Looking at their SGX Annc, what's committed doesn't seem that serious, more of internal control weakness / lapses. It doesn't appear it'll damage their reputation / credibility. BUT, it's not in the hands of CAD and well… CAD is less flexible on what's right or wrong… Very likely, some of the employees will be charged in court after weeks or even months of investigations. In the meanttime, there'll likely be fears that this may just be the tip of the iceberg…

Anyway, take a risk to buy. Will look more in depth into their financials on Sunday if I have the time… Will have to find time…:D