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(18-07-2012, 10:57 PM)greengiraffe Wrote: [ -> ]OMH's recovery continues... Boustead has bottom fished this time round. With OMH still working on covering the funding gap for their equity portion required for Sarawak smelter, hopefully Boustead's cash hoard can be put to good use.

I'm not sure if Boustead should be helping out on this aspect - isn't the sum of money quite substantial? The lead time for completion of the smelter is also quite long and a lot of other problems could crop up along the way. The way the AR 2012 describes it is that it has excellent IRR and economics, but I tend to take a dim view of things unless they can come to fruition and really deliver the promised goods. Otherwise, it's just a number on paper.

I would rather Boustead provide their EPC support for the smelter, than for them to inject a substantial sum in cash to "support" the funding. If this OMH investment doesn't work out, so be it; it's not a huge portion of their cash stash. But if Boustead were to throw good money after bad, that would be a cardinal sin indeed!
(19-07-2012, 01:17 AM)Musicwhiz Wrote: [ -> ]
(18-07-2012, 10:57 PM)greengiraffe Wrote: [ -> ]OMH's recovery continues... Boustead has bottom fished this time round. With OMH still working on covering the funding gap for their equity portion required for Sarawak smelter, hopefully Boustead's cash hoard can be put to good use.

I'm not sure if Boustead should be helping out on this aspect - isn't the sum of money quite substantial? The lead time for completion of the smelter is also quite long and a lot of other problems could crop up along the way. The way the AR 2012 describes it is that it has excellent IRR and economics, but I tend to take a dim view of things unless they can come to fruition and really deliver the promised goods. Otherwise, it's just a number on paper.

I would rather Boustead provide their EPC support for the smelter, than for them to inject a substantial sum in cash to "support" the funding. If this OMH investment doesn't work out, so be it; it's not a huge portion of their cash stash. But if Boustead were to throw good money after bad, that would be a cardinal sin indeed!

Boustead's EPC knowhow is not related to smelter. The Chinese are more experience in this area. in any event, the margins on the EPC for the smelter is not as exciting as the eventual ownership and operations of the smelter.

Boustead has to add value to their cash holdings. When they finally commit the cash hoard to work, we got to trust that they would have done their stringent due d since they have not been known as rambos historically.

Wait and see.
Boustead's latest AR 2012 provides a wealth of information about the going-ons during the financial year, and the Chairman's message is written in FF Wong's usual candid, personal style and really tells a lot about how he thinks and makes his decisions regarding the business. I suggest non-shareholders take a read as well in order to glean insights as to how this CEO runs his ship, and also how he shares the good + the bad as well. I really respect him for that.

There is also a lot of information on each division and the report gives detailed updates on contracts secured, and business development efforts. There is also a new 2-page section on Boustead's industrial leasehold property portfolio, with many details given such as client's name, gross floor area (in sqm) and date of completion. Also included in the AR 2012 are two pages dedicated to the operations and plans of OMH and the Sarawak Smelter, and the milestones and steps to be taken to see it to fruition.

The AGM will be held on July 30, 2012 at Grand Mercure Roxy hotel at 10:00 a.m, the first time I know of where it is held outside of Boustead's HQ at Starhub Green. Apparently, the number of shareholders has more than doubled over the past two years, and a new and larger venue was needed (it was quite a squeeze last year).

There is also an investor outreach programme for shareholders to sign up, close to the last page of the AR 2012. Details can be given to the IR who will then stay in touch with you to provide more information on this programme.
ya.. It is probably the best written AR that I had read considering that I have countless ARs..haha. It took me quite some times to finish reading the AR it which is rather rare..hehe.

Some interesting insights...
Water treatment business sucks in general.
Energy business is going through a low cycle but it will come back furiously.
The rational of buying OMH.

Oh, I thought he was paid reasonably. (less than a million)
OMH has just released its 1H 2012 financials - doesn't look very good unfortunately.

And the AGM yesterday was good, learnt a lot of useful stuff. Smile
> OMH has just released its 1H 2012 financials - doesn't look very good unfortunately.

OMH fortune is not going to turn in the next 6 mth to 1+ years... it's a mid to long term haul...

FF Wong is smart to bet at bottom, and at the same find ways to do projects for energy sector...

Pay 1 price, get 2 items... capital gain upside + increased energy sector projects for boustead...
Hi Contrarian,

Agree, and understand. Thanks! Big Grin
Boustead will be releasing its 1Q 2013 financials on August 13, 2012 (Monday).

As of today, the counter has gone XD for a final dividend of 3c/share, to be paid on August 21, 2012.
(31-07-2012, 10:16 AM)Musicwhiz Wrote: [ -> ]OMH has just released its 1H 2012 financials - doesn't look very good unfortunately.

And the AGM yesterday was good, learnt a lot of useful stuff. Smile

Hi Mw,

Would you care to share what you have learnt from the AGM and will that help to enhance your view on Boustead?

Thanks
Boustead Singapore Remains Steady Amid Economic Slowdown
By Jade Lee
06 AUGUST 2012

http://kfc1973-stock.blogspot.sg/2012/08...-amid.html [Article]

(Not Vested)