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13-06-2022, 02:32 PM
(This post was last modified: 15-06-2022, 05:23 PM by dreamybear.)
The recent happenings in NT / Procurri led me to ponder about NT / ISDN, and subsequently led me to watching the video on partnering with NT(at the website).
With regards to ISDN, while NT has certainly made a difference(e.g. optimizing the company structure), I think realistically there is a limit to ISDN's automation growth prospects since it seems unlikely to be able to grow organically to compete with the likes of US/European/Jap/Korean giants. It seems to be "contented" to focus on China and SE Asia(I think it's a 4-6 hr geographical flight zone or something like that).
Despite venturing into more offerings, they don't seem to take off and to me, there seems to be a lack of focus(look at the no. of pages of subsidiaries in the AR - how effectively cld one oversee so many or is it with layers of middle mgmt - I dun know) Speaking of which, I was rather disappointed with the outcome of the SD Beijing incident - tot wld be recoverable and increase EPS - pg196 of AR2021)
So how long more is the runway in China ? What wld be the peak earnings / EPS for its automation business ?
Then in the longer term, what is the endgame ? Controlling shareholder selling ISDN to a larger organization - given ISDN is a solutions provider collaborating with various manufacturers, does it make business sense for a single manufacturer to buy it ? Finding a successor ? What wld be a trigger / final trigger for NT to exit its stake in ISDN (esp since NT is not in the driving seat )?
Meanwhile, CIMB has lowered the target price to $0.70 upon 1Q2022 results below expectations.
This thread is also a bit quiet, hope more buddies can join in the discussion.
---------------------------
https://www.novotellus.com/
AR2021 :
https://links.sgx.com/FileOpen/ISDN-AR20...eID=708509
1Q2022 Results :
https://links.sgx.com/FileOpen/ISDN-1Q20...eID=720460
"- ISDN reported revenue of S$94.7 million in 1Q2022, a 3.8% decrease from S$98.4 million in 1Q2021.
- Profit attributable to equity holders increased 5.8% to reach S$6.4 million in 1Q2022, as compared to S$6.1 million in 1Q2021...."
CIMB ISDN research report 14/6/2022
https://rfs.cgs-cimb.com/api/download?fi...467bf32f58
With regards to ISDN, while NT has certainly made a difference(e.g. optimizing the company structure), I think realistically there is a limit to ISDN's automation growth prospects since it seems unlikely to be able to grow organically to compete with the likes of US/European/Jap/Korean giants. It seems to be "contented" to focus on China and SE Asia(I think it's a 4-6 hr geographical flight zone or something like that).
Despite venturing into more offerings, they don't seem to take off and to me, there seems to be a lack of focus(look at the no. of pages of subsidiaries in the AR - how effectively cld one oversee so many or is it with layers of middle mgmt - I dun know) Speaking of which, I was rather disappointed with the outcome of the SD Beijing incident - tot wld be recoverable and increase EPS - pg196 of AR2021)
So how long more is the runway in China ? What wld be the peak earnings / EPS for its automation business ?
Then in the longer term, what is the endgame ? Controlling shareholder selling ISDN to a larger organization - given ISDN is a solutions provider collaborating with various manufacturers, does it make business sense for a single manufacturer to buy it ? Finding a successor ? What wld be a trigger / final trigger for NT to exit its stake in ISDN (esp since NT is not in the driving seat )?
Meanwhile, CIMB has lowered the target price to $0.70 upon 1Q2022 results below expectations.
This thread is also a bit quiet, hope more buddies can join in the discussion.
---------------------------
https://www.novotellus.com/
AR2021 :
https://links.sgx.com/FileOpen/ISDN-AR20...eID=708509
1Q2022 Results :
https://links.sgx.com/FileOpen/ISDN-1Q20...eID=720460
"- ISDN reported revenue of S$94.7 million in 1Q2022, a 3.8% decrease from S$98.4 million in 1Q2021.
- Profit attributable to equity holders increased 5.8% to reach S$6.4 million in 1Q2022, as compared to S$6.1 million in 1Q2021...."
CIMB ISDN research report 14/6/2022
https://rfs.cgs-cimb.com/api/download?fi...467bf32f58