Sunpower Group is the latest bet on the China environment theme for Tong Kooi Ong, the chairman of of The Edge Media Group, which owns The Edge Singapore.

tongkooiong theedgeTong Kooi Ong, chairman of The Edge Media Group. Photo: CompanyHe holds 190,000 shares of Singapore-listed Sunpower, as reflected in his weekly column in the current edition.

His purchase price is US$39.8 cents each, which is about 54 SGD cents. He is in the money as the stock currently trades at 64 cents.

Sunpower

Share price: 
64 c

Target: 
95 c

Source: Lim & Tan Research

His column notes that his previous holding with exposure to the environment theme, China Sunsine, has reported sharply higher earnings.

Another environment play, Nine Dragon Paper Holdings, which is still in his portfolio, is enjoying more robust selling prices.

Beyond the article's preamble, Mr Tong devotes practically all of the rest of his 2-page column to talking about Sunpower's business. 

DerekGoh4.15Derek Goh, executive chairman of Serial System. NextInsight file photo.This week's The Edge Singapore also features Singapore-listed electronics components distributor, Serial System, which is on track to spin off a major part of its business in a listing in HK.

The listing of the subsidiary, Serial Microelectronics (HK), will cut Serial System's stake from 91 % to 68.25%.

Notably, the article reports that "Serial System estimates that the subsidiary, which distributes electronic parts within Greater China, will have a minimum market value of US$220 million ($299 million) upon listing." 

This is based on an earnings multiple of 20 times, which Serial System -- which is not covered by analysts -- says is in line with HK-listed peer companies. Serial Microelectronics reported earnings of US$11.4 million in FY2017.

That means Serial System's expected post-listing stake of 68.25% is worth about US$150 million.

By contrast, its market capitalisation as at June 18 was just $136 million, implying a price-to-earnings ratio of 8.25 times.

“If one of my subsidiaries is worth so much, do you think, as a group, we are undervalued?” says executive chairman Derek Goh, in an interview with Chan Chao Peh of The Edge Singapore.


For more on the Serial and Sunpower stories, get a copy of The Edge Singapore at the newsstands for $5.

For more on China Sunsine, read: 

You may also be interested in:


You have no rights to post comments

Counter NameLastChange
AEM Holdings2.650-0.080
Avi-Tech Electronics0.265-
Best World1.700-0.120
Broadway Ind0.087-0.002
China Sunsine0.385-
ComfortDelGro1.370-
Delfi Limited0.955-0.075
Food Empire1.430-0.020
Fortress Minerals0.2700.005
Geo Energy Res0.335-0.055
GSS Energy0.027-0.002
Hong Leong Finance2.480-0.010
Hongkong Land (USD)3.2800.020
InnoTek0.4400.005
ISDN Holdings0.330-0.010
ISOTeam0.035-
IX Biopharma0.041-
Jiutian Chemical0.025-
KSH Holdings0.250-
Leader Env0.052-
Medtecs Intl0.133-0.001
Nordic Group0.340-0.010
Oxley Holdings0.0910.001
REX International0.1230.002
Riverstone0.725-0.015
Sinostar PEC0.1420.004
Southern Alliance Mining0.600-
Straco Corp.0.515-
Sunpower Group0.2250.005
The Trendlines0.083-0.001
Totm Technologies0.024-0.001
Uni-Asia Group0.8500.010
Wilmar Intl3.340-0.020
Yangzijiang Shipbldg1.7400.070
 

We have 734 guests and no members online

rss_2 NextInsight - Latest News