(14-04-2011, 12:36 AM)piggo Wrote: [ -> ]all nicely summarized... but no guarantees that it's free from errors
Thanks very much for the effort, piggo.
I've done something like this too for my analysis of purchase for Kingsmen, though not with such comprehensive numbers.
One thing I noticed is that the cash hoard keeps increasing. A good sign, I take it?
Yup, a good sign, makes them more "stable". On the flip side, it could also mean that they're not fully utilizing their resources to grow.
Slow and steady wins the race I say!
although the cash balance is increasing, it does not mean the company is not utilizing the cash during the quarter. Maybe just the cash conversion cycle is so short that the cash balance does not reflect the cash utilization.
Hm... Don't quite understand how that is possible.
Anyway their cash and cash equivalents sounds very much like FD... Low interests deposits.
e.g. to furnish a shop, Kingsmen maybe pays for the material first using their cash balance and gets paid before end of the quarter.
although cash balance increases, there is high cash utilization during the quarter.
I used their service for my home once. They practice payment schedule by renovation stages of completion.
Cory
(14-04-2011, 09:19 AM)corydorus Wrote: [ -> ]I used their service for my home once. They practice payment schedule by renovation stages of completion.
Cory
They do residential project also?
(14-04-2011, 09:51 AM)valuestalker Wrote: [ -> ] (14-04-2011, 09:19 AM)corydorus Wrote: [ -> ]I used their service for my home once. They practice payment schedule by renovation stages of completion.
Cory
They do residential project also?
Wanted to ask that also. Coz i'm getting my keys in 1 1/2 weeks time. Wonder if they give discounts for shareholders... Lol
Dear all,
Part 4 of my comprehensive analysis on Kingsmen's FY 2010 Financials is now up on my blog. Please feel free to visit and leave comments, thanks!
A snippet as follows:-
"Revenues-wise, it seems apparent that Kingsmen and Pico have a larger revenue base than Cityneon. This is in spite of Cityneon starting up around the same time or even earlier than Kingsmen. If we look at gross margin, however, it is interesting to note that Kingsmen’s gross margins lags behind the other two competitors, who have managed to hit 30+% for FY 2009. This may be just a temporary “blip†though, for gross margins seem to have begun to normalize for FY 2010 as Kingsmen was awarded the huge parcel of work for USS in FY 2009 (and which yielded lower gross margins)."
Besides Pico & Cityneon, would it be easy for competitors from other regions to enter SG market & start competing with Kingsmen?