DESIGN STUDIO: A cheaper alternative to Kingsmen Creative?

Page 1 of 2

This article was recently published in the Let's Get Rich Together blog, and is reproduced with permission.

350bedroomreflections Design Studio is Singapore's leading furniture manufacturer, interior fitting-out and product specialist. They serve the residential, commercial and retail properties.

DS is slightly different from the more popular Kingsmen Creative which specialises in Corporate/Retail Interiors, Exhibitions/Events, Theme parks & Museums.

3 Business Segments

Residential - supply and install products like Kitchen cabinets, vanity cabinets, wardrobes etc.
Commercial - Interior fitting out to Hospitality and Commercial developments
Distribution - Distribute imported brands in Singapore

Notable clients

Trump Tower, Las Vegas
Burj Khalifa, Dubai
Resorts World Sentosa
Marina Bay Sands
City Developments
Capitaland
Keppel Land - Reflections at Keppel Bay
GoucoLand Limited
Far East Organisation
South Beach Mixed Development
Westin Hotel, Marina Bay

These big names bodes well for DS' reputation, helping them to gain more clients in the future.

Valuations
Design Studio
PE ratio = 6.8
PB ratio = 1.2
Dividend yield = 11.8% (more on that later)

Kingsmen Creative
PE ratio = 11.5
PB ratio = 2.0
Dividend yield = 4.0%

Past results

rev pbt margin7.15

bs.div7.15

orderbook7.15

order7.15

Counter Name	Last	Change
AEM Holdings	2.300	-0.060
Best World	2.460	0.020
Boustead Singapore	0.955	-0.005
Broadway Ind	0.125	-0.003
China Aviation Oil (S)	0.905	-0.005
China Sunsine	0.405	-0.005
ComfortDelGro	1.440	-0.020
Delfi Limited	0.895	-0.005
Food Empire	1.290	-0.030
Fortress Minerals	0.305	-0.015
Geo Energy Res	0.305	-
Hong Leong Finance	2.480	-0.010
Hongkong Land (USD)	2.830	-0.020
InnoTek	0.520	-0.015
ISDN Holdings	0.300	0.005
ISOTeam	0.042	-0.001
IX Biopharma	0.040	-0.005
KSH Holdings	0.245	-0.005
Leader Env	0.050	-
Ley Choon	0.044	0.001
Marco Polo Marine	0.067	-0.002
Mermaid Maritime	0.136	-0.003
Nordic Group	0.310	-0.005
Oxley Holdings	0.088	-0.001
REX International	0.138	0.003
Riverstone	0.790	-0.005
Southern Alliance Mining	0.445	-
Straco Corp.	0.495	0.010
Sunpower Group	0.205	-0.005
The Trendlines	0.069	-
Totm Technologies	0.022	-
Uni-Asia Group	0.825	-
Wilmar Intl	3.410	0.030
Yangzijiang Shipbldg	1.740	-0.030

Counter Name

Last

Change

AEM Holdings

2.300

-0.060

Best World

2.460

0.020

Boustead Singapore

0.955

-0.005

Broadway Ind

0.125

-0.003

China Aviation Oil (S)

0.905

-0.005

China Sunsine

0.405

-0.005

ComfortDelGro

1.440

-0.020

Delfi Limited

0.895

-0.005

Food Empire

1.290

-0.030

Fortress Minerals

0.305

-0.015

Geo Energy Res

0.305

Hong Leong Finance

2.480

-0.010

Hongkong Land (USD)

2.830

-0.020

InnoTek

0.520

-0.015

ISDN Holdings

0.300

0.005

ISOTeam

0.042

-0.001

IX Biopharma

0.040

-0.005

KSH Holdings

0.245

-0.005

Leader Env

0.050

Ley Choon

0.044

0.001

Marco Polo Marine

0.067

-0.002

Mermaid Maritime

0.136

-0.003

Nordic Group

0.310

-0.005

Oxley Holdings

0.088

-0.001

REX International

0.138

0.003

Riverstone

0.790

-0.005

Southern Alliance Mining

0.445

Straco Corp.

0.495

0.010

Sunpower Group

0.205

-0.005

0.069

0.022

0.825

3.410

0.030

Yangzijiang Shipbldg

1.740

-0.030

Comments

#3 Dane 2015-08-09 16:36

Lotus: I think CEI Contract Mfrg deserves a higher priority. Just look at the shocking increase in interim dividend. :)

#2 lotustpsll 2015-08-01 10:40

I have included Design Studio into my high yield list following its 1H results which were released last evening. Key notes:-
- marginal Qtr profit growth against corresponding 2Q14
- order books remain solid
- interim dividend per share raised
Performance is impressive considering slower market conditions.

#1 lotustpsll 2015-07-29 14:44

Good article, well articulated.

Am vested earlier in view of its established business model, rising order books and strong FCF and financial position. A quality stock and one should hold long term as high yield play..

Refresh comments list

DESIGN STUDIO: A cheaper alternative to Kingsmen Creative?

Article Index

You may also be interested in:

Comments