tulips, why support the share price?
in-fact, if it does come down to a ridiculous level, i'll delist it asap!
speaking as though i own the co. of cos..
I am already vested in the share.
Lobbying to the management will help to bring some action. There is a lack of action to enhance the shark's value
Seriously, they should delist. They are not even tapping into the debt market or raising capital. It can be a faster way to realize value
they are NOT/NEVER in a rush, steel biz is prolong down period since 2011?
FH properties development for rental-wise, they will do fine too...they own all the land anyway... if they need cash injection, just REITs it.
believe me when i say they are considering delist too, just that the price must be right lah!
my best guess is when steel biz starts to upturn 2017++, but the share price still low, they will try it.
now is not a good time to delist anyway, unless the price goes down to ridiculous level...
maybe you can consider this as a value trap.
oh, and the thing about IDs... don't expect too much... we ARE always on OUR own..
To REIT it may not be that feasible unless they buy more properties or they consolidate/sell the properties
Although steel industry is weakening, there is bright spots like Lee Metal and BRC. For hupsteel' cash position, it is much higher than BRC, and many listed companies.
I know minority shareholders are on our own. That's we need to step up on our minority shareholder activism. IDs must add more value to hupsteel
Hupsteel has been paying dividend, which is kind of cool even though they at not earn much. Why not on share repurchase to enhance NTA/ share, EPS, ROE?
An email from each minority shareholder will be a good signal to the management to improve the share price through share repurchase. I am not promoting deconstructive investor activism, but share repurchase adds value here and hupsteel is not doing it for past 2 years
Centurion has revalued it's dormitory, and profitability/ investor visibility is created
Email hupsteel @ ir@hupsteel.com for management's attention
why not start from attending their AGM? talk to boss directly,
(11-03-2015, 09:22 PM)tulipbubble Wrote: [ -> ]To REIT it may not be that feasible unless they buy more properties or they consolidate/sell the properties
Although steel industry is weakening, there is bright spots like Lee Metal and BRC. For hupsteel' cash position, it is much higher than BRC, and many listed companies.
I know minority shareholders are on our own. That's we need to step up on our minority shareholder activism. IDs must add more value to hupsteel
Hupsteel has been paying dividend, which is kind of cool even though they at not earn much. Why not on share repurchase to enhance NTA/ share, EPS, ROE?
An email from each minority shareholder will be a good signal to the management to improve the share price through share repurchase. I am not promoting deconstructive investor activism, but share repurchase adds value here and hupsteel is not doing it for past 2 years
Centurion has revalued it's dormitory, and profitability/ investor visibility is created
Email hupsteel @ ir@hupsteel.com for management's attention
Hi tulipbubble,
Agree with you that management should be slightly more proactive with regards to adding shareholders' value. To give them some credit, they did buy back some shares back in '13 (at a slighty higher price).
With regards to their properties, I've been to their AGM and IIRC, they did mention that they will consider selling them 'if the price is right.' This is quite consistent with their statement about the redevelopment of 6 Kim Chuan as follows: "On completion, subject to the prevailing market conditions at that time, the Group may decide to rent out or sell the individual strata units."
My opinion is that 1) the management has done a great job over the years in improving their balance sheet and significantly reducing their debt levels to a minute amount currently. I think their financial position has been the best in years so far. 2) Share buyback is the minimum they should do if there's excess cash and provided that it won't hurt their normal ops by doing so. 3) Whether to sell the property at current relatively attractive prices, they can wait since they have sufficient liquidity to withstand any adverse conditions currently.
secretinvestors,
Agree with you that the management has done well to build up a strong balance sheet in view of the overall weak steel industry.
Having share re-purchase is beneficial to the company in view of the 0.6 PB (taking into consideration fair value of industrial properties, PB is 0.5 or potentially lower). Idling cash is not going to earn much interest, although I agree that cash hoarding is good for if there are serious investment opportunities or economic downturn
The company has *huge room of* flexibility to take on debts to conduct Asset Enhancement/ Reconstruction on its' industrial properties, and to use debts for working capital in its' core business. Short term debts aren't that expensive now with Sibor at 0.7%.
Brattzz,
Just felt that minority shareholders should not be passive. AGM is a once in a year event.
A bit of constructive minority shareholder activism would be good.
I thought if one choose to invest in a old-fashioned family-owned business company as a minority shareholder, he/she shouldn't expect much attention from the majority? Unless we see a generation change, otherwise undervalued properties will stay undervalued and lousy dividend will stay lousy. But before one can expect a company been appropriately valued by Mr. Market, there is still possibility that the majority may overturn the table to bring the company private. When cheap thing get cheaper, it is probably time for the majority owner to take action.
From a voting perspective, the family will have the majority control. But that does not mean that minority shareholders need to be passive
Our money are vested, thus we need to actively participate if it is a hefty amount vested.
Hupsteel has the money, share is undervalued, thus my active lobbying on share repurchase
tulips, by all means, go ahead and lobby!!
There's a might be few valuebuddies here that owns 5% in HS i think!
I'm just happy to keep buying HS on the cheap, knowing that - "majority may overturn the table to bring the company private. When cheap thing get cheaper, it is probably time for the majority owner to take action." - valuebuddies
1 ct dividends over 19/20 cts yielding 5%++ , okay what!