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Bro Freedom

Paiseh i was looking here on page 1

Other comprehensive income:
Foreign currency translation 66 154
Fair value adjustment 314

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To myself, the reason i buy NL is

Bond 6.1m
Receivable - 31.9m
Cash - 36.8m
Inventory - 36.9m

Almost at market cap
Couple with decent earnings.

(16-05-2013, 10:33 AM)Salty Wrote: [ -> ]Bro Freedom

Paiseh i was looking here on page 1

Other comprehensive income:
Foreign currency translation 66 154
Fair value adjustment 314

---

To myself, the reason i buy NL is

Bond 6.1m
Receivable - 31.9m
Cash - 36.8m
Inventory - 36.9m

Almost at market cap
Couple with decent earnings.

sorry for my misunderstanding. but comprehensive income is not what I am referring to, as those are non-essential to P & L(that's why they are not in P&L) and have totally different meanings(most are translation gain/loss only).

(16-05-2013, 10:28 AM)pianist Wrote: [ -> ]easier said than done.
when a real crisis, i bet many of us would not have the guts to scoop at ultra low price..

well if I learnt anything by reading posts on this forum, I would not think its a matter of guts for value investors but rather a matter of valuation. If price ever hits or goes below net cash value, I dun see why guts would have to be involved.

(16-05-2013, 12:03 PM)BlueKelah Wrote: [ -> ]

(16-05-2013, 10:28 AM)pianist Wrote: [ -> ]easier said than done.
when a real crisis, i bet many of us would not have the guts to scoop at ultra low price..

well if I learnt anything by reading posts on this forum, I would not think its a matter of guts for value investors but rather a matter of valuation. If price ever hits or goes below net cash value, I dun see why guts would have to be involved.

In my experience, guts matters. The high level of conviction in your own valuation starts to waver when the price is down by 60% and is still going down. Cash value can also disappear fast once receivables become bad, revenue go down rapidly, costs go up due to under-capacity. Maybe even significant shareholders start throwing shares and some other company starts going under... All this will keep hitting against your castle of conviction until it eventually breaks.

(16-05-2013, 12:03 PM)BlueKelah Wrote: [ -> ]

(16-05-2013, 10:28 AM)pianist Wrote: [ -> ]easier said than done.
when a real crisis, i bet many of us would not have the guts to scoop at ultra low price..

well if I learnt anything by reading posts on this forum, I would not think its a matter of guts for value investors but rather a matter of valuation. If price ever hits or goes below net cash value, I dun see why guts would have to be involved.

Err i thought Creative Tech price did go below net cash value? but i dont think i still want to buy.

(16-05-2013, 12:17 PM)smallcaps Wrote: [ -> ]

(16-05-2013, 12:03 PM)BlueKelah Wrote: [ -> ]

(16-05-2013, 10:28 AM)pianist Wrote: [ -> ]easier said than done.
when a real crisis, i bet many of us would not have the guts to scoop at ultra low price..

well if I learnt anything by reading posts on this forum, I would not think its a matter of guts for value investors but rather a matter of valuation. If price ever hits or goes below net cash value, I dun see why guts would have to be involved.

In my experience, guts matters. The high level of conviction in your own valuation starts to waver when the price is down by 60% and is still going down. Cash value can also disappear fast once receivables become bad, revenue go down rapidly, costs go up due to under-capacity. Maybe even significant shareholders start throwing shares and some other company starts going under... All this will keep hitting against your castle of conviction until it eventually breaks.

hmmm but isn't value investing about buying 1 dollar for 50 cents? better the company bankrupt liquidate you can straight away get a profit anyways hope for another correction i ill also buy in nam lee. track record during economic crisis is good.

$1 present and $1 in the future is very different. Are you willing to buy $1 in 2100 today for 50 cents?

money can be lost and sometimes, even can disappear all of sudden. Plus the uncertainty of profit in the future.

Was reading on shipping news when I come across this:
http://www.bloomberg.com/news/2013-05-29...eight.html

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Transport using refrigerated containers is expected to increase to 212 million tons in 2016 from 172 million tons in 2011 because global population is forecast to increase to 7.45 billion by then, according to shipping consultant Drewry.
“This forecast will have a direct effect on worldwide perishable reefer demand, particularly in the high-volume import regions such as Western Europe, North America and Asia,” said Rahul Kapoor, a Singapore based analyst at Drewry. Moving goods in cooled boxes gives companies more margins, he said.

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UTC Climate, Controls & Systems, a unit of Hartford, Connecticut-based United Technologies, has developed a new container-cooling system that uses greenhouse gas to keep fruit and meat from getting spoilt.
That will replace industrially produced hydrofluorocarbons, one of the biggest causes of global warming, John Mandyck, the company’s chief sustainability officer, said in an interview in Singapore May 14. UTC -- the world’s biggest maker of reefers -- expects to start selling the new product called NaturaLine in the second half of this year.

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United Technologies is the parent company of carrier, the major customer of Nam Lee. If demand for reefers are expected to increase, Nam Lee should benefit too, unless Margin is further squeezed in order for Nam Lee to continue with the contract.

Given that the NaturaLine is expect to go on sales in this second half of the year and they have a contract with Carrier until 2014, it means NamLee is already producing the casing for NaturaLine, and hopefully, Carrier will renew their contract with Nam Lee with another 5 years, instead of risking their production with a new supplier

Thanks for the good news,

in that case looks ok if not good for NamLee going forward, for those who long this stock.

Not vested yet but keen to join you guys who are vested.

Share price seems stable now, would it be good time to accumulate or wait for SGX to down at least till 10% less than 3400 peak?

both this counter and techwah looks pretty good in terms of net cash and a quarter below NAV and dividends >5%


<not vested yet>

Can anyone help me quantify what proportion of the Aluminium segment's sales is for refrigerated containers as opposed to work for HDB ? With this company, I don't have a good handle on how each of the two businesses are doing given that they are reported under tge same segment....