UE E&C

Notes :

1. Value of contract on hand as of 31/12/2011 is $506m. Value of contract on hand as of 31/12/2012 is $650m. Increased of 30%.

2. 30% stake in Austville Residences EC. Fully sold and will receive TOP by 1Q2014. Will be able to book one lump sum profit.

3. 30% stake in Watercolours EC. Fully sold and will receive TOP in 2014. Will be able to book one lump sum profit.

4. 30% stake in Waterwoods. Appointed main contractor for the project.

5. 20% stake in a residential development on Prince Charles Crescent(named The Crest). Acquired the site at $960psf. Construction around $400psf. Breakeven $1450 psf. Average sale price of nearby Mon Jervois for Sept 2013 is $2152 psf. Appointed main contractor for the project.

http://investideas.net/forum/index.php?s...2c8bc7f11e

(02-12-2013, 07:04 PM)Behappyalways Wrote: UE E&C 3Q2013
http://infopub.sgx.com/FileOpen/UEECQ320...eID=263325

Redhill plot 'will send crucial signal to market'
http://www.stproperty.sg/articles-proper...t/a/147465

(03-12-2013, 06:24 PM)Behappyalways Wrote: Notes :

1. Value of contract on hand as of 31/12/2011 is $506m. Value of contract on hand as of 31/12/2012 is $650m. Increased of 30%.

2. 30% stake in Austville Residences EC. Fully sold and will receive TOP by 1Q2014. Will be able to book one lump sum profit.

3. 30% stake in Watercolours EC. Fully sold and will receive TOP in 2014. Will be able to book one lump sum profit.

4. 30% stake in Waterwoods. Appointed main contractor for the project.

5. 20% stake in a residential development on Prince Charles Crescent(named The Crest). Acquired the site at $960psf. Construction around $400psf. Breakeven $1450 psf. Average sale price of nearby Mon Jervois for Sept 2013 is $2152 psf. Appointed main contractor for the project.

http://investideas.net/forum/index.php?s...2c8bc7f11e

(02-12-2013, 07:04 PM)Behappyalways Wrote: UE E&C 3Q2013
http://infopub.sgx.com/FileOpen/UEECQ320...eID=263325

L&T report this morning on UE E&C!!


UE E&C
Downgrade to HOLD S$1.025-EEEC SP
We are downgrading UE E&C from BUY to HOLD
due to the following reasons:
 the stock’s 75% gain in 2013 has seen it outperform
its peers such as Lian Beng (+34%), KSH (44%)
and Tiong Seng (1%) significantly.
 and in so doing, its valuations have also caught up
with its peers with its PE at 5x (against peer average
of 4-5x) and price to book at a premium of 1.4x
against the sector average of 1x.
 while the UE E&C’s previous 2 executive condo
(EC) joint venture projects (Austville
Residences and Water Colours) were fully sold,
their latest joint venture EC project with Sing
Holdings did not do as well, having only sold just
under 40% so far due to the moderating HDB
homes prices as well as the EC market in the
Punggol area possibly reaching a saturation point.
 expectations of further home price declines in
Singapore on the back of the first decline in 2 years
in 4Q’13 may overhang UE E&C’s first mid-high end
joint venture with Wingtai and Metro for their
Prince Charles residential project which we estimate
the average cost to be close to $1,500 psf.
 big cap property developers such as Capitaland,
UOL and Keppel land are amongst the worse
performers on the STI last year and are currently
trading only between 0.7-0.8x their historical book
values.
 Notwithstanding our concerns, we believe that UE
E&C’s still low EV/EBITDA of 3x and attractive
dividend yield of 5-6% should provide some support
for the stock.

UE E & C - Piling on the cash
UE E&C is a consistently cash-generative company, and has a sizeable regional
presence while maintaining its core strengths in Singapore. It is poised for an
earnings jump as contributions from its property development stakes kick in
from FY14. UE E&C has a strong local franchise and has expanded regionally of
late. Its stakes in property development offer earnings upside in the next three
years as these properties reach completion. We initiate coverage with an Add
rating and a target price of S$1.12, based on 4.7x CY15 P/E (in line with the
sector’s six-year mean). Catalysts could come from more joint venture property
developments and a pick-up in construction order wins.

http://www.remisiers.org/cms_images/rese...ybreak.pdf
(click on the UE E&C on page 1 to read more)


http://investideas.net/forum/index.php?s...642a09dada

UE so much in debt....UE E&C should increase dividend payout to help 'mummy'


With the addition of this Contract, the Group’s order books stood at approximately S$750 million as at
13 February 2014.



AWARD OF CONTRACT FOR LEE KONG CHIAN SCHOOL OF MEDICINE, NANYANG TECHNOLOGICAL UNIVERSITY
http://infopub.sgx.com/FileOpen/AwardofT...eID=274531

We remain optimistic about our construction and engineering businesses as the construction demand in
2014 could reach between $31 billion and $38 billion based on forecast by the Building and Construction
Authority of Singapore. However, with this high level of construction activities, we expect continued
pressures from rising labour costs due to the current tight labour market. For this, the Group will continue
to strive for productivity enhancement and strategic labour deployment.

EPS 22.3 cents
NTA 90 cents
Dividend 7 cents (5 cents last year)


FY2013
http://infopub.sgx.com/FileOpen/UEECFull...eID=276562

Solid foundations
http://research.cimb.com/index.php?ch=50...00&bb=file

1. Value of contract on hand as of 31/12/2011 is $506m. Value of contract on hand as of 31/12/2012 is $650m. Value of contract on hand as of Feb 2014 is $750m.

2. 30% stake in Austville Residences EC. Fully sold and will receive TOP by 1H2014. Will be able to book one lump sum profit.


Even at $1.18 PE is 5.3 and dividend yield is 5.9%. Looking at the contracts on hand, the earnings will continue to grow even without including the associate EC Austville earnings. Hence dividend payout should at least be able to be maintained for next year. Here you are paying 5 times PE for a growing company(looking at the contracts on hand) and getting 5.9% yield while holding it.

(27-02-2014, 06:21 PM)Behappyalways Wrote: We remain optimistic about our construction and engineering businesses as the construction demand in
2014 could reach between $31 billion and $38 billion based on forecast by the Building and Construction
Authority of Singapore. However, with this high level of construction activities, we expect continued
pressures from rising labour costs due to the current tight labour market. For this, the Group will continue
to strive for productivity enhancement and strategic labour deployment.

EPS 22.3 cents
NTA 90 cents
Dividend 7 cents (5 cents last year)


FY2013
http://infopub.sgx.com/FileOpen/UEECFull...eID=276562

Good afternoon everyone.

UE E&C and parent UE both halted.
http://infopub.sgx.com/Apps?A=COW_CorpAn...AL5OP3PXOM
http://infopub.sgx.com/Apps?A=COW_CorpAn...37CNVOAU7A
<vested in UE E&C>

hopefully delisting at a good price