I\'m using IE7. The issue seems to be intermittent though. admin - Thx for asking. No worries. I\'ll just try as and when, doesn\'t matter if I can\'t login. I\'m quite sick of raising such \"logs\" actually
Long time have not seen any postings on this stock but 'ivanignatius' gave one in sharejunction.com, so I repost it here ---
AM I MISSING SOMETHING?
Techcomp just gets more and more exciting. It is going to do US$120mn of sales this year. The margin will be about 9% (could be better as the balance of the business shifts to the higher margin manufacturing business).
Since the 1:2 split, it now has 232.5mn shares. This equals 6.5c of Singapore dollar earnings (confusingly it reports in USD so you need to remember to multiply by 1.4). A proprietary scientific equipment manufacturer should trade on 20x earnings, but Techcomp also has a big distribution side which is more like a 8x earnings business.
Blending the two, and putting it on 13x, the stock should be trading at 84c, versus the current 35c. Just in case you think I am being too confident, they did US$105mn in 2009 (a tough global year), and made acquisitions during the year. If they don't do US$130mn, I'd be shocked. With the Euro falling, their products just get more competitive.
Then check out this statement from their year end press release: Our established manufacturing and distribution operations in China have benefited from the PRC 4 trillion stimulus package and will continue to ride on the country's strong economic growth. Strategic plans have been drawn up to build our European networks to ensure the sustainability of the business in the long term.
All these will amalgamate into a pretty exciting outlook for the Group in 2010 The only things wrong with this stock is (1) No-one covers it (2) It is too illiquid. Please post a reply if you disagree.
Last edit: 13 years 4 months ago by niadmin. Reason: Formatting text
STRONG BOOST TO REVENUE GROWTH? ROBUST SALES MOMENTUM? U see how the CEO describes the biz ......
20 July 2010 - SGX Main board-listed Techcomp (Holdings) Ltd), China's leading manufacturer and distributor for analytical and life science instruments, is pleased to announce that it has won another tender from the United Nations Officer for Project Officers to provide two BSL3 (P3) turnkey laboratories for use in India.
This tender of approximately US$1million, is another tender that the Group has won from UNOPS. The Group last secured a total of US$3 million tenders from UNOPS on 20 May 2009, where the Group provided two BSL3 (P3) turnkey laboratories and a batch of centrifuges for use in India.
"Winning several tenders from UNOPS in India in the past two years shows that our brand is gaining further traction amongst international bodies. Our products are of the highest international standards and we have been gaining international recognition for our products and after-market services
"The rapid industrialization in China and India has led to strong demand for laboratory products which are used in quality checks and government health testing. Our recent acquisitions in Europe have added new products for us to cross-sell to our existing customers in Asia. This has given us a strong boost in terms of revenue growth. We anticipate our robust sales momentum to carry on into 2H2010. " - Richard Lo, President & CEO of Techcomp
Last edit: 13 years 4 months ago by niadmin. Reason: Formatting text
2 pieces of good news in 2 days. Techcomp makes US$600K but wonder what other reasons for selling Bibby JV.
Techcomp disposed of Bibby JV for USD980,000 .
Realised gains of approximately USD600,000 .
Current economic instability in Europe offers many opportunities to cherry-pick good acquisition targets
Singapore and Hong Kong, 22 July 2010
SGX Main board-listed Techcomp (Holdings) Ltd, China's leading manufacturer and distributor for analytical and life science instruments, is pleased to announce that, the Group has entered into a Sale and Purchase Agreement with Bibby Scientific Limited to dispose its 50% interests in Bibby Scientific (Hong Kong) Limited, a jointly controlled entity. Upon completion of the Disposal, BHK will cease to be a joint venture of the Group. The Consideration of the Disposal is approximately USD980,000. BHK's net asset accounted for 0.87% of the latest audited consolidated net tangible assets of the Company and its subsidiaries. The consideration was arrived at after arm's length negotiations on a 'willing buyer willing seller' basis.
The consideration shall be payable in cash by the Purchaser in accordance with the schedule set out in the Agreement. The Group will realise gains of approximately USD600,000. The disposal is expected to have a positive impact on the Groupââ¬â¢s earnings for FY2010. ââ¬ÅThe decision to dispose of the Bibby Scientific JV was made after a thorough evaluation of our available resources. While there is a lot of potential to be derived from the Bibby Scientific JV, we believe that by re-allocating our available resources and efforts to grow our European operations, we will be able to achieve higher returns. This will also be a win-win situation for both parties as Bibby Scientific will be able to better manage its operations to suit its expansion plans in China. We will continue to work closely with Bibby Scientific to explore other opportunities in the future.
"We are in the mist of negotiating with potential acquisition targets which could add more synergies to our operations. The current economic instability in Europe offers us many opportunities to cherry-pick good potential targets." - Richard Lo, President & CEO of Techcomp
Last edit: 13 years 4 months ago by niadmin. Reason: Formatting text
CIMB short note to clients this morning ---- Techcomp announced that it is disposing its 50% interests in Bibby Scientific (BJK), a JV. The consideration of the disposal is approximately USD980,000. The group will realise gains of approximately USD600,000. Earlier this week, Techcomp also said that it has secured a total of US$4m worth of orders from United Nations since May 2009. Reiterate BUY; target price S$0.86.
