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

Full Version: SembCorp Industries
You're currently viewing a stripped down version of our content. View the full version with proper formatting.
Pages: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25
Usually I don't really want to comment too much on brokers' report but her NAV stated on the front page for 2020F is $1.77 and $1.95 for 2021F. You have to exclude $325m minority interest on the balance sheet that's not the listco shareholders' equity.

I think the writeoff will hit 3Q PnL and not just a simple spin off from equity line as guided by manangement, but marginal impact on NAV as it's an accounting treatment, though my own NAV guesstimate is about 10% lower

(20-09-2020, 11:15 PM)Curiousparty Wrote: [ -> ]CIMB report => Dec 20F => Total equity = $3487 mil => $1.95.

Currently only trading at 0.67 P/BV.

don't expect SCI's price to double a few times like iFast in the next few years. But hitting $2 should not be a tall order.
I feel that valuation for utilities should be tied more strongly to the earning power , ie the future potential EPS.

In this regard , I would go for PE valuation method rather than Book Value method .

Tks .
-----------
(21-09-2020, 11:01 AM)specuvestor Wrote: [ -> ]I think the writeoff will hit 3Q PnL and not just a simple spin off from equity line as guided by manangement, but marginal impact on NAV as it's an accounting treatment, though my own NAV guesstimate is about 10% lower

Think it is around fair value here as a utility with results in 2 weeks and STI rebal coming
https://links.sgx.com/1.0.0/corporate-an...9546ba81ad

For a 50% Temasek owned entity to start commencing share buyback at such price level said a lot about what the company thinks about its own share price...
Pages: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25