Boustead Projects

[greengiraffe]

[Edited by Moderator] new projects are being bid under new competitive environment - how can one expect immediate revaluation gains especially when new land and construction costs are much higher than historical projects?

They have already indicated that returns on new projects are lower than previous ones... anyway, market is efficient, BP share price continue to rot though the rate of decay is moderating...

The RNAV$1.26 did not include 15th and 16th project since these 2 projects were not listed on page 2.

And of course, the recent contract wins were not included as well.

Value buddies must work harder rather than rely on simple journalism.

The introductory documents have a wealth of info.

The RNAV quoted @ 1.26 is based on introductory documents. No speculation and further guessing requires here.

Given that revaluation is done recently, there is little upside.

New DBL and D&B are won in the midst of highly competitive environment. As in any organisation, overheads are always there and must be covered even in tough times. As a separate listed entity, BP is also expected to incur additional listing fees, compliance costs and board fees given that it is no longer unlisted under Boustead Sing.

At current price of $0.91, the discount to RNAV at 27.8% appears fair and until dividend policy emerges, one should have ample time to evaluate BP's business model.

I have to remind that BP is not a new business merely because its a new listing. BP has always been sitting within Boustead Sing. If you are hardworking enough, Boustead Sing historicals will provide invaluable insight on how its market has toughened over the last 2 years.

Given that Boustead Sing has trimmed total DPS to $0.04 (excluding the 15.5 script BP distributions) and maintains an average 50% payout historically, it is a good hint that the parent is expecting a relatively flat BP contributions after factoring in the 48.8% dilution to minority interests via introduction.

CP with your undeclared substantial interests, I urged you to conduct a prudent due diligence rather than guessing and shooting from your hip when posting your analysis.

Vested Since 2002
Including share certs in Boustead Sing & BP
GG