: Value Investing Forum - Singapore, Hong Kong, U.S.

Full Version: Secura Group
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SINGAPORE: Secura Group, which has several high-profile shareholders, said on Wednesday (Jan 20) that it is listing shares on SGX's Catalist board to raise S$28 million to fund its expansion.
The Singapore-based security firm said it will sell 112 million shares at S$0.25 each in its initial public offering (IPO). Each share comes with two detachable warrants, which can each be converted to new Secura shares at an exercise price of S$0.35 cents in the next three years.
Secura will use the funds raised to expand its security and cyber security businesses, as well as to improve its corporate infrastructure and for working capital.
The company was formed via a merger of two groups – Secura, which offers security printing services, and Soverus, which provides security guards, cyber security and other security-related services.
Its shareholders include billionaire investor Mr Peter Lim, Mr Wee Ee Chao, who is Chairman of UOB-Kay Hian Holdings, and local property giant City Developments.
Secura's share offer closes on Jan 26 and trading of its shares is expected to commence on Jan 28.
Amid bearish market, this IPO still attracts strong interest.

- 112 million Invitation Shares 2.2 times subscribed
- Trading debuts on Catalist at 9.00 am on 28 January 2016

Secura Group Limited, a leading provider of an integrated suite of security products, services and solutions in Singapore, announced that its initial public offering of 112 million new shares in the capital of the Company at S$0.25 per Invitation Share, with 224 million free detachable warrants, has attracted strong interest from investors.
Yea really strong interest from investors. Currently selling for $0.225 per share. Kudos who received these shares on the placement tranche
Secura has announced its full year results and will be giving out dividends of 0.3 cents.

Observations from its full year results:
EPS of 0.88 cents
Ops Cash flow before WC changes is about 5.5mil, Cashflow from investing is about -500k, thus FCF/share is about 1.2 cents
Security guardi segment has improved but security printing has deproved.

To me, despite the promising growth of cyber security and security guards, 19.3 cents valuation is way too expensive. Est Fair value of Secura is about 14 cents (12x FCF). And as a value investor seeking a reasonable MOS, I will probably relook at this company when its 7-9 cents.

Great IPO performance in suckering placement holders to absorb the shares. Now its time for market to appraise this business
STAPL had, on 19 August 2020, appealed to the SSG again for the uplift of the STAPL Suspension.

STAPL has made the refund of S$42,111.25 to the SSG. For the financial year ended 31 December 2019, STAPL registered revenue of approximately S$0.78 million and net profit of approximately S$101,000. 

The Company noted that the above-mentioned breaches were due to an inadvertent  oversight by STAPL’s management and has since implemented rectification measures.

Stay home and stay healthy, everyone.

Win contract from an oil and gas MNC$6.8M%20security%20services%20contract.ashx?App=Announcement&FileID=673713

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Stay home and stay safe, everyone.