Chip Eng Seng

Hi

Did you manage to scoop up at the most recent low of 83 cents?

(28-11-2014, 06:45 PM)yewkim Wrote:

(28-11-2014, 05:04 PM)RT Knight Wrote: sure there is loss. But, it is limited.
As mentioned before, Raymond did talk about the worst case. It is deposit with some interest to return back to buyer. What is the interest we talk about here? I would expect that should follow the Australia interest rate. If the money return back to buyer after 3 years and interest of 5% per year, that could be 15% of deposit money. How much Deposit we talked about here? Could below news as reference?

http://www.smh.com.au/business/tower-mel...z3K4xxQPOS

Thanks all for your reply. I sell because I just refuse to let market take away my profit. I have sold some at 91c, and today all at 87c. I m looking to buy back later. Hope market present me a chance. But it is alright, I am partially looking at other counter. Thanks and God blessed you all. It is tough. I need to study hard too, been Indonesian ,my English is so so..

A&A works at CES centre has been completed.

"The Board of Directors of Chip Eng Seng Corporation Ltd (the "Company") wishes to inform that, with effect from 3 February 2015, the registered office of the Company be relocated to 171 Chin Swee Road, #12-01 CES Centre, Singapore 169877."

http://infopub.sgx.com/Apps?A=COW_CorpAn...435fb7bc1c

Another new source of recurring income will kick in...

Hi Curiosuparty,

I bought at 85c 20 lots only, and use the other half of the proceed from chipES sale and bought into CDW, and Libra too.Thanks for your analysis which i follow closely. I have profited here base on your thorough info on chipES which i follow closely. Will look to add more if I got spare cash.

Thanks for sharing generously.

Don't worry too much about CES. It is still greatly under-appreciated by Mr Market

During the last major share buyback in Dec 2012 (see the 2 boxes at the graph below) when company bought back its own shares at from 53 cents to 60 cents, in the one or two months that followed (Jan/Feb 2013), share price reached a high of nearly 90 cents. This was close to 50% gain!!!

From 18 Aug 2014 to 10 Dec 2014, company bought back 9.1mil of shares at an average price of $0.88 cents...
If history were to repeat itself, the share price should hit at least around $1.30 in Feb/March 2015.

(02-02-2015, 11:31 PM)Curiousparty Wrote: During the last major share buyback in Dec 2012 (see the 2 boxes at the graph below) when company bought back its own shares at from 53 cents to 60 cents, in the one or two months that followed (Jan/Feb 2013), share price reached a high of nearly 90 cents. This was close to 50% gain!!!

From 18 Aug 2014 to 10 Dec 2014, company bought back 9.1mil of shares at an average price of $0.88 cents...
If history were to repeat itself, the share price should hit at least around $1.30 in Feb/March 2015.

I believe US will not increase rate and delay indefinitely as the rest of the world is not doing well , because they will end up killing their corporate earning with the dollar strength. So this will be good for all property counter as well.

Thanks to curiousparty for taking time to post all the data. You are really fantastic.

(03-02-2015, 01:05 AM)yewkim Wrote:

(02-02-2015, 11:31 PM)Curiousparty Wrote: During the last major share buyback in Dec 2012 (see the 2 boxes at the graph below) when company bought back its own shares at from 53 cents to 60 cents, in the one or two months that followed (Jan/Feb 2013), share price reached a high of nearly 90 cents. This was close to 50% gain!!!

From 18 Aug 2014 to 10 Dec 2014, company bought back 9.1mil of shares at an average price of $0.88 cents...
If history were to repeat itself, the share price should hit at least around $1.30 in Feb/March 2015.

I believe US will not increase rate and delay indefinitely as the rest of the world is not doing well , because they will end up killing their corporate earning with the dollar strength. So this will be good for all property counter as well.

Thanks to curiousparty for taking time to post all the data. You are really fantastic.

A bit off topic.

Delaying indefinitely may not be the best way forward. At some point in time, it is still for the trade cycle to occur in its natural course. What is down, has to come up eventually. Without rates increase, inflation may rise unabated. Thats frightening too....

I doubt interest rates will hit CES bad. Borrowings are not in USD in the first place. May be the impact would manifest in other indirect forms, but doubtful it will make a mighty dent on earnings in the near term. Correct me if i'm wrong.

Just my view.

From mid-2015 onwards, with the commissioning of the Alex Hotel, CES recurring income will be greatly boosted.
At a steady state, I expect CES recurring EPS to be ~4.6 cents.

This together with income from its construction arm, there might be a likelihood for CES to increase its regular dividend to around 6 cents (from the current 4 cents).
At today's closing price of 93 cents, this is a "recurring" yield of 6.5%.

Hence, we get both capital growth and assurance of recurring income ("pseudo-REITs")at the same time.

(02-02-2015, 11:31 PM)Curiousparty Wrote: During the last major share buyback in Dec 2012 (see the 2 boxes at the graph below) when company bought back its own shares at from 53 cents to 60 cents, in the one or two months that followed (Jan/Feb 2013), share price reached a high of nearly 90 cents. This was close to 50% gain!!!

From 18 Aug 2014 to 10 Dec 2014, company bought back 9.1mil of shares at an average price of $0.88 cents...
If history were to repeat itself, the share price should hit at least around $1.30 in Feb/March 2015.

February now. Ready for price hike?
wondering what will the dividend be given this year. For sure 4 cents should be in pocket. Would there any special dividend?

Low Keng Huat rose from $0.68 to $0.74 or 8 % Gain, just because of an acquisition that will provide recurring income of only $4.2 million or 0.56 cts per share if no further value is added to the property.

Imagine the market reaction when Chip Eng Seng' s Alex Hotel TOPs in 3 month' s time. Recurring income of $14mil per annum or 2.2 cents per share will kick.

Plus there should be revaluation gain of ~30 cents in NAV because CES cost per hotel room is only around $0.4mil to $0.45mil while a typical 4-star hotel room valuation should be around $0.82mil to $0.9mil.