ValueBuddies.com : Value Investing Forum - Singapore, Hong Kong, U.S.

today 565 lots done. Price dropped from 34.5 cents to 32 cents or 7.81%, bearing in mind that SGX went up close to 30 points today...

Kazumichi Mandai has been appointed ID wef Dec 2012....
He used to be President, Sumitomo Rubber Latin America, Chile....

New corporate development?

But my Chinese friends in CHina are saying Japanese products (cars, etc) are suffering from drastic drop in sales due to the boycotting....
How immune is tyre distribution business to this type of boycotting?

---

Stock at steep discount to NTA
Our Group NTA has risen to 48.12 cents as at 30 April 2012.
Going by the average closing price of Stamford Tyres shares
of about 30 cents over the past year, this means we are
trading at a steep 38% discount to book value. The discount
would be even steeper if the NTA is computed to factor in
the surge in industrial real estate values in Southeast Asia
in the past years. Stamford Tyres owns leasehold titles to
over 35,000 square meters of industrial land in Singapore
(currently occupied by our warehouses, service centers, tyre
retail centers and showrooms).

Commentary from latest 2Q 2013 results seems to suggest that Q3 and Q4 would probably see losses again?
Q2 EPS = -ve 1.26 cents

On the other hand, YHI in its latest 2Q results said that its profit margin has remained stable....
Which is a better buy ? YHI or Stamford Tyres?

********
The macro outlook continues to remain uncertain given the ongoing Euro zone crisis as well as the
slowdown in China’s growth. As a result, business sentiments and consumers’ confidence have
continued to remain weak.
“The performance of our first half has been below our expectations, mainly due to the
compression of our gross margins affecting our bottomline.
The second half of our financial year will continue to be challenging due to lacklustre
economic sentiments and difficult business conditions. As such, we will seek to defend our
gross margins from further compression via adjustments to our sales strategy and mix. In
addition, we will look to streamline our operations to contain operating costs. Lastly, we will
also steadily grow the topline performance for our core wholesale and retail businesses,
especially in the South East Asia markets.
With these measures in place, we are confident that the Group will be able to position itself
for a stronger recovery when business conditions improve”

http://shareking.com/modules/Insider_Tra...08&insider=

Wee Kok Wah has been buying every other day, despite the poor Q2 results.
What does this imply?

But bear in mind that Japanese YEN has become much weaker now, and is projected to be weaker going ahead because of current account deficit and further easing from BOJ...

(09-12-2012, 12:43 AM)Curiousparty Wrote: [ -> ]Kazumichi Mandai has been appointed ID wef Dec 2012....
He used to be President, Sumitomo Rubber Latin America, Chile....

New corporate development?

But my Chinese friends in CHina are saying Japanese products (cars, etc) are suffering from drastic drop in sales due to the boycotting....
How immune is tyre distribution business to this type of boycotting?

---

Stock at steep discount to NTA
Our Group NTA has risen to 48.12 cents as at 30 April 2012.
Going by the average closing price of Stamford Tyres shares
of about 30 cents over the past year, this means we are
trading at a steep 38% discount to book value. The discount
would be even steeper if the NTA is computed to factor in
the surge in industrial real estate values in Southeast Asia
in the past years. Stamford Tyres owns leasehold titles to
over 35,000 square meters of industrial land in Singapore
(currently occupied by our warehouses, service centers, tyre
retail centers and showrooms).

let's bid the price up to 35 cents and see if Wee Kok Wah and wife continue to play the buying game...

THis counter has crept up from 38 cents to more than 46 cents in one day!!

reached a high of 47 cents before closing at 46 cents
Beneficiary of plunging yen?

Vested

,

(08-01-2013, 07:35 AM)camelking Wrote: [ -> ]reached a high of 47 cents before closing at 46 cents
Beneficiary of plunging yen?Vested

I do not think movement of Yen is a cause of the price surge.
The company has no exposure in that currency, be it cash, trade receivables, or trade payables.

(09-01-2013, 09:55 AM)portuser Wrote: [ -> ],

(08-01-2013, 07:35 AM)camelking Wrote: [ -> ]reached a high of 47 cents before closing at 46 cents
Beneficiary of plunging yen?Vested

I do not think movement of Yen is a cause of the price surge.
The company has no exposure in that currency, be it cash, trade receivables, or trade payables.

Yes, you are right!
No exposure to yen.

should be rumours that someone is buying over or being taken private

Very Vested