24-02-2015, 10:56 PM
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25-02-2015, 08:36 AM
The cashflow situation has changed dramatically from past years - free cashflow has dropped significantly.
- receivables has popped up reflecting more generous credit terms.
- building up recurring income thru leasing has resulted in an increase in PPE, higher depreciation
- start to see debt funding capex (if dividend payout is to remain). Together with the reduction of cashpile, ROE has improved to 20+% from mid teens prior to 2010.
Think the profile of the company is changing rather interestingly with PE participation. No longer happy to remain debt-free and cash-rich, we should be seeing something with higher debt levels, operating leverage and a decently high dividend payout all working to improve ROE.
- receivables has popped up reflecting more generous credit terms.
- building up recurring income thru leasing has resulted in an increase in PPE, higher depreciation
- start to see debt funding capex (if dividend payout is to remain). Together with the reduction of cashpile, ROE has improved to 20+% from mid teens prior to 2010.
Think the profile of the company is changing rather interestingly with PE participation. No longer happy to remain debt-free and cash-rich, we should be seeing something with higher debt levels, operating leverage and a decently high dividend payout all working to improve ROE.
25-02-2015, 10:04 AM
It is expected the dividend to drop back to 4cts.
I never expect it to be so soon because it took up debts.
I hope to buy back around 72cts. run while you can before more people found out abt the cut in dividend. The stockfacts in sgx has not been updated yet...
<odd lots>
I never expect it to be so soon because it took up debts.
I hope to buy back around 72cts. run while you can before more people found out abt the cut in dividend. The stockfacts in sgx has not been updated yet...
<odd lots>
25-02-2015, 10:31 AM
I did a quick look at the AR, if we do away with exception item btw is really exception imo due to acquisition resulting YoY drop, I thought we have stronger result QvQ. Operational wise seems doing well.
"Negative goodwill in 2013 arose from the acquisition of the remaining 70% equity interest in an
associate, where the fair value of net assets acquired exceeded the consideration paid."
The need to support leasing model to work means more cash needed which are the new growth area.
"Capital expenditure in Q4 2014 and FY 2014 was $2.3 million and $7.4 million respectively, mainly
incurred on point-of-sales terminals for leasing business."
"Negative goodwill in 2013 arose from the acquisition of the remaining 70% equity interest in an
associate, where the fair value of net assets acquired exceeded the consideration paid."
The need to support leasing model to work means more cash needed which are the new growth area.
"Capital expenditure in Q4 2014 and FY 2014 was $2.3 million and $7.4 million respectively, mainly
incurred on point-of-sales terminals for leasing business."
17-03-2015, 03:25 PM
Market doesn't like the 2cts div. Seems like there are no visible catalysts for NeraTel. If it is biz as usual for NeraTel, then it is also keep to collect div as usual for me.
17-03-2015, 07:32 PM
Doesn't look good EPS for 2014 is only 4.48 cts. Will be hard for them to pay 4 cts dividend going forward unless FCF improves significantly.
Not vested but will consider at a much lower price.
Not vested but will consider at a much lower price.
24-03-2015, 11:58 AM
Starting to buy at 64.5cts.First tranche!
The yield is now at 6.2%.
<vested again>
The yield is now at 6.2%.
<vested again>
29-03-2015, 09:40 PM
Hello,
I did an analysis on Neratel last year. For comments and discussion.
<<Not Vested>>
I did an analysis on Neratel last year. For comments and discussion.
<<Not Vested>>
30-03-2015, 09:40 AM
On your "intrinsic value", I find it hard that Northstar would acquire for a ~5% gain.
02-04-2015, 10:16 AM
Following are a set of queries sent to IR. Waiting for their reply.
1) May we know what is the percentage (%) in WIN (Wireless Infrastructure Network) is in maintenance recurring business model contributed to our group?
2) Under Infocomm Network Infrastrutcure & POS, what is the percentage (%) is in recurring business model as well?
3) I noticed that there is a new technology just newly launched in Malaysia under Hong Leong Bank (PEx+Service), where the payment solution is through smart phone - to - smart phone interface. This newly solution has by passed the traditional payment terminal (which will affecting Neratel POS system). (refer to TheStar Newspaper under BizNews 2-Apr-15)
4) How significant will this new interface transform the payment solution industry and what is our strategy to get along with this new technology?
1) May we know what is the percentage (%) in WIN (Wireless Infrastructure Network) is in maintenance recurring business model contributed to our group?
2) Under Infocomm Network Infrastrutcure & POS, what is the percentage (%) is in recurring business model as well?
3) I noticed that there is a new technology just newly launched in Malaysia under Hong Leong Bank (PEx+Service), where the payment solution is through smart phone - to - smart phone interface. This newly solution has by passed the traditional payment terminal (which will affecting Neratel POS system). (refer to TheStar Newspaper under BizNews 2-Apr-15)
4) How significant will this new interface transform the payment solution industry and what is our strategy to get along with this new technology?