BRC Asia

(11-02-2015, 06:03 PM)valuebuddies Wrote: Result is out:

http://infopub.sgx.com/FileOpen/BRC_1Q15...eID=334518

Not vested but sideline for opportunities...

Margin squeezed... Guess there is no reversal to the situation, at least for the near future...

(11-02-2015, 06:12 PM)NTL Wrote:

(11-02-2015, 06:03 PM)valuebuddies Wrote: Result is out:

http://infopub.sgx.com/FileOpen/BRC_1Q15...eID=334518

Not vested but sideline for opportunities...

Margin squeezed... Guess there is no reversal to the situation, at least for the near future...

Despite so, I have to admit that the PE still look compelling.

(11-02-2015, 06:22 PM)valuebuddies Wrote:

(11-02-2015, 06:12 PM)NTL Wrote:

(11-02-2015, 06:03 PM)valuebuddies Wrote: Result is out:

http://infopub.sgx.com/FileOpen/BRC_1Q15...eID=334518

Not vested but sideline for opportunities...

Margin squeezed... Guess there is no reversal to the situation, at least for the near future...

Despite so, I have to admit that the PE still look compelling.

Looking at past 2 quarters, this quarter is particularly weak. The revenue stays about the same, gross profit was roughly the same as last quarter, but net profit dropped from $7m to $4m...

PE can be more compelling.

(11-02-2015, 06:31 PM)NTL Wrote:

(11-02-2015, 06:22 PM)valuebuddies Wrote:

(11-02-2015, 06:12 PM)NTL Wrote:

(11-02-2015, 06:03 PM)valuebuddies Wrote: Result is out:

http://infopub.sgx.com/FileOpen/BRC_1Q15...eID=334518

Not vested but sideline for opportunities...

Margin squeezed... Guess there is no reversal to the situation, at least for the near future...

Despite so, I have to admit that the PE still look compelling.

Looking at past 2 quarters, this quarter is particularly weak. The revenue stays about the same, gross profit was roughly the same as last quarter, but net profit dropped from $7m to $4m...

PE can be more compelling.

Construction demand is there, but wonder if they can maintain the margin.

PB below 1 and PE of 8+X

(17-03-2015, 02:03 PM)tulipbubble Wrote:

(11-02-2015, 06:31 PM)NTL Wrote:

(11-02-2015, 06:22 PM)valuebuddies Wrote:

(11-02-2015, 06:12 PM)NTL Wrote:

(11-02-2015, 06:03 PM)valuebuddies Wrote: Result is out:

http://infopub.sgx.com/FileOpen/BRC_1Q15...eID=334518

Not vested but sideline for opportunities...

Margin squeezed... Guess there is no reversal to the situation, at least for the near future...

Despite so, I have to admit that the PE still look compelling.

Looking at past 2 quarters, this quarter is particularly weak. The revenue stays about the same, gross profit was roughly the same as last quarter, but net profit dropped from $7m to $4m...

PE can be more compelling.

Construction demand is there, but wonder if they can maintain the margin.

PB below 1 and PE of 8+X

Looking at last 3 quarters:

3Q14: Revenue - $98.5M, Net Profit - $6.5M
4Q14: Revenue - $101M, Net Profit - $6.9M
1Q15: Revenue - $102M, Net Profit - $4.7M

So far the margin still on a downtrend. I will wait.

Assume that FY16 NP margin is 5% (worst case?) and revenue $400M, the NP income would be $20M.

That's works out EPS 0.021.

Base on today's price of 0.167, PER is 7.95.

BRC is very likely to maintain 1.3c dividend (7.8%).

Am considering...

(not vested)

(17-03-2015, 02:46 PM)NTL Wrote:

(17-03-2015, 02:03 PM)tulipbubble Wrote:

(11-02-2015, 06:31 PM)NTL Wrote:

(11-02-2015, 06:22 PM)valuebuddies Wrote:

(11-02-2015, 06:12 PM)NTL Wrote: Margin squeezed... Guess there is no reversal to the situation, at least for the near future...

Despite so, I have to admit that the PE still look compelling.

Looking at past 2 quarters, this quarter is particularly weak. The revenue stays about the same, gross profit was roughly the same as last quarter, but net profit dropped from $7m to $4m...

PE can be more compelling.

Construction demand is there, but wonder if they can maintain the margin.

PB below 1 and PE of 8+X

Looking at last 3 quarters:

3Q14: Revenue - $98.5M, Net Profit - $6.5M
4Q14: Revenue - $101M, Net Profit - $6.9M
1Q15: Revenue - $102M, Net Profit - $4.7M

So far the margin still on a downtrend. I will wait.

BRC for sure has the ability to maintain 1.7c dividend, but they have skipped the special dividend which usually in 1st half of the year, so I guess total dividend for the year will be lower. Nonetheless, the company has paid a total of 7.9c of dividend for the last 8 years, which is close of 6% yield annually. I thought this is a good return for a company like BRC who is ridding on industry trend and with low gearing. If the company can maintain 1.7c dividend for the year, it yields more than 10% and would be a strong catalyst to push up the share price. Another comfort level is that current price is more than 15% cheaper than the bond holders conversion price, I think the MOS is sufficient already.

Results is out: http://infopub.sgx.com/FileOpen/BRC_2Q15...eID=349613

As widely expected, not good but not bad either IMO. GPM is down in tandem with the falling steel price, revenue increased by approximately 6% versus immediate preceding quarter despite general slowdown in construction activities in Singapore. I expect that we will see the same things for the subsequent quarters at least till end of the year, lower margin but greater revenue. EPS of 0.609c for Q2 means annualised 2.436c or PE of 6.8 times, and currently trading below its NAV of 18c as of 31.03.2015. Dividend maintained at 0.5c.

[ vested ]

What happen to BRC? Ever since I vested the price drop like no tomorrow

(03-07-2015, 04:44 PM)valuebuddies Wrote: What happen to BRC? Ever since I vested the price drop like no tomorrow

Property down -> Construction down -> BRC Asia down?

Gearing pretty high too IIRC