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Hi pianist

"“Revenue for the Industrial Division of S$14.565 million for 3Q2014 increased by 10.2% from S$13.211 million for 3Q2013 mainly due to rollover effect of existing contracts, new contracts secured and contracts renewed at higher rates.

Segment profit of S$1.086 million for 3Q2014 increased by 27.6% from 3Q2013 profit of S$0.851 million mainly due to the increase in revenue.

The Industrial Division will continue to optimize its operating conditions to remain profitable.”

Waste companies aren't that bad - after all!
Why Am I Still Bullish on Colex.

1. Net Profit's CAGR outpaced expenses in a time of inflation, a hallmark of management's ability to control costs. This is evident by looking at their increasing net profit margin.

2. Waste management business is set to grow with increased population and development of Jurong (Colex's terriority)

3. Undemanding Forward P/E of 7+ assuming the 1H 2014 results are replicated in the 2H. However, 3Q results show that it may even be better. 800 Super is around 10x P/E.

4. No debt. Potentially a cash cow as cash flow is able to support business needs. 800 Super's debt increased from $5.6mil to $28mil (FY2011 - FY2014).

[Image: ScreenShot2014-11-16at110236am_zpsd715b9b6.png]
[Image: ScreenShot2014-11-16at110119am_zps377c1624.png]
Seems like there is some healthy take-up at $0.260 this morning.
hi all, does anyone know where i can download the financial results for colex FY2014?

i could not find it on the revamped sgx website
1) From the menu, select [Company Information] > [Company Announcements].
2) From the Security Name drop-down list, select [COLEX HOLDINGS LIMITED].
3) Click [Go].
i found it! great! thanks gzbkel!
Colex is indeed an interesting company. With the completion of its waste management and recycling plant at Tuas South, it is unlikely moving forward Colex will incur such a high annual CAPEX of 5M. Instead, CPAEX is likely to fall to 1.5M. *before FY 13 and 14, CAPEX was around 1 mil, but I have assumed a conservative CAPEX of 1.5M in the future.

With the stability of its waste mgmt revenue and a new segment in material recovery, it is likely Colex will continue to earn 7.5 to 8Mil in operating cashflow before WC changes annually. Netting off income tax and CAPEX, FCF generated is approx 6M annually or 5.1 cent/share. However investors should not expect an increase in dividends in the near term as it is likely Colex will continue to pay off its 3M of financial lease over FY15 and FY16. After which, the company has no more financial lease obligations.

One worry I have is that this company is majority held by Bonvests, whose controlling shareholder has a reputation of not being willing to share the riches of its company with minority shareholders

<vested today at 0.25>

Preliminary check, looks interesting but competing against goliath SembCorp and others in Sg.
Do take note that of the Government Grants provided (SDF and SECF) which amounts to ~$1M in 2014. The SECF runs out in Dec 2016, so unless the govt continues to fund the program, this cash component will need to be stripped out from valuation.

Excellent quarterly summary results. Revenue up 13% and EBIT growing 33% in 3Q 15. Pity that the shares are highly illiquid.

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