Dear folks,
I had an opportunity to meet up with the BP sales. These guys surely have their experience and track record. What I like about them is that they take in various jobs and engineer job costs to meet the client requirements. Many of the builders simpler promised very "cheap"price, but come back with lots of variation orders or "surprises". Truly, there is no such thing as "cheap, good and fast".
But, this BP sales set a higher price to minimise the VO. That is both good and bad. Good in that, it ensures clients are mentally prepared for ït, rather than being surprised by multiple subsequent VOs.
It surely not an easy job for them, but for the sales guy to have the guts to put a "high price" (and work with the customer) is no easy task. In this harsh economic climate, having such courage is quite trying.
Moi vested.
It's heartening to know Company that emphasizes (and having courage to) quality.
In this part of the world whereby most tenders go to the lowest price, this is indeed a tough & lonely path. Personally, having such courage not to compete based on price alone is rather encouraging. TTJ is another one comes to mind.
May the Force be with you.
<vested, non core>
Unfortunately, for many local businesses, it is not well understood that "good, cheap and fast" is never unconditional. Thats where not many understands BP's value add.
BP's local non-listed competitors are strong too. Based on my review, BP has its own competitive moat. While BP may not appeal to all, there are still branded customers going to BP. Informally, they are said to be hungry enough to take on smaller jobs. That is a good piece of news, especially with jobs getting harder to come by.
Not forgetting also that some of the key management do meet clients personally to close deals. It shows a lot about the commitment to the business.
Vested, small holdings.
Thx vesfreq for sharing some insights. IIRC, BP has a very small workforce, most of them are Management levels. Their value add are in building knowledge and PM, hence mostly MNC Clients. Only certain local co-s like Greenpac, Osim (who are likely to appreciate quality than mere Price) work with them.
The advantages of natural filter of Clients:
1. Unlikely to have Receivable issue.
2. Smaller lease income risk.
3. Project is likely to be progressing more smoothly.
<vested non core>
hi i didnt manage to attend today's AGM due to work. Can anyone do some sharing for today's AGM? thanks in advance
(28-07-2016, 10:54 PM)money Wrote: [ -> ]hi i didnt manage to attend today's AGM due to work. Can anyone do some sharing for today's AGM? thanks in advance
I think they did talk about the triple one somerset, competitive environment and how boustead project intend to compete by going into niche field building like aerospace and etc.
There is no intention to declare any dividend as they consider this a growth company. Yhey are changing their model from BOT towords leasing (less revenue on book but more recurrring income.)
There is a intention of reit when the time is right.
The highlight of the AGM is WFF's son WYW, the chairman seems to be grooming him as alot of fielded qns in the AGM is answered by WFF's son WYW.
After AGM, the BP mgmt(John Lim and WFF's son WYW) also came for lunch buffet reception and engage the shareholders.
Was late for this agm.
Last Friday a 15% spike in price occurred to a high of 0.74 and then dropped back down. What gives? Fat finger? Low liquidity? Or BB accumulation?
One off small trade, doesn't mean anything