Asiatic Group Holdings - Half Year Financial Statement

Asiatic Group Holdings - Half Year Financial Statement

Outstanding piece of work! :)

http://tinyurl.com/2vk43t

(link opens another window to SGX website on the statement)

My thoughts:

1. Its a growth story... I think it is just the beginning... and I hope the management will be watchful about the corresponding increase in expenses...

2. Interesting operating cashflow... The next financial statement for 2H-08 would see whether it is sustainable...

3. Its asset is another interesting find... almost 50% of its assets (~ $33.8 mil) is fixed property / equipment. Another 25% of it (~ $16.9 mil) came from long term finance, rights and bond issues... hope it does'nt need this type of funding in future, always better to use its own cash for expansion... just my opinion...

For details of past postings on Asiatic, please see http://tinyurl.com/28ngzd

Have fun investing...

Warm regards,
fc
http://valueinvestmentonsgx.blogspot.com

Disclaimer: Completeness, accuracy and opinions based on information and comments mentioned via this website cannot be guaranteed. Investors should always conduct their own research before making investment decisions.

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Asiatic - What a 2.8 bagger! And I missed it out totally!

Dear all,

Another investment learning... wished I had more patient... enjoy reading...

Earlier this year (Jan-07), I had expressed my keenest interest and promoted this 'fellow'... For details of past postings, see http://tinyurl.com/28ngzd

After this fellow went up by about 20% in the following month (Feb-07), I actually dumped it for what I thought was another 'better' play...

Needless to say, the 'better' play does not turn out that 'better' afterall...

In the meanwhile, this good fellow continued to do great things for its shareholders... besides delivering what it promised to do in its new area of business (power generation), it continues to enhance its bread and butter business (fire protection) in a slow and steady manner...

In Mar-07, it announced plans to issue more rights and I thought about it negatively then. On hindsight, I could not understand why I was negative about it... another learning...

Anyway, here is the calculation, had I sticked with it since Jan-07 (which you already knew I did'nt)... =)

Jan-07 : Bought 30 lots @ ave price $0.21 = $6,300
Mar-07 : 30 lots would entitled to 75 lots @ $1,050 (rights + warrants)
Aug-07 : If I had not sold out, the total lots = 105, ave cost price per share = $0.08 (i.e. [7350+1050] / 105 lots).

At the current price of $0.23, it is 2.8 bagger!

As always, I am still learning....

If I could quote from a book:
"Fool me once, shame on you! Fool me twice, shame on ME!"

Have fun investing...

Warm regards,
fc
http://valueinvestmentonsgx.blogspot.com
http://tinyurl.com/28ngzd

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Asiatic Group - hoped that you have gained from it...

Asiatic Group - hoped that you have gained from it...

On 21-Jan-07 (Sunday Times), I speculated that 3 stocks will go up by 25%. I am not quite convinced myself then. :) Well, if you had went along with the speculation, you would be 25% richer...

Are you asking... what? Will it go up somemore? I dunno! I suspect so... Till what? Hey, I am just a novice, with only 2 years of investing experience! Further, this is just my passion and not my full time job! :)

Anyway, during my research in early-Jan 07, its trading price was around $0.19. At the end of today's trading it is about $0.24, thus an increase of about 26.3%.

All related postings about this company can be found here: http://tinyurl.com/28ngzd

Disclaimer: Completeness, accuracy and opinions based on information and comments mentioned via this website cannot be guaranteed. Investors should always conduct their own research before making investment decisions.

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Valuation of Asiatic Group

As promised, this is the satistics of the Asiatic Group.

1. Date of evaluation: 04-Jan-07
2. Price: $0.19
3. Current Ratio: 0.76
4. Debt/Total Equity Ratio: 0.96
5. Operating Profit: 7.4%
6. PE ratio: 9.3
7. Net Tangible Assets: $0.25
8. Earning Per Share: $0.02 (projected)
9. What I like about this company: Please see previous post.
10. What I do not like about this company: Please see previous post

Best of luck to your investing!

Warm regards,

Fu Chin

Disclaimer: Completeness, accuracy and opinions based on information and comments mentioned via this website cannot be guaranteed. Investors should always conduct their own research before making investment decisions.

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Just purchased another valuable gem on SGX - Asiatic Group

Some of the things I like about this company includes:

- The founders (aka boss) are still substantial shareholders...

- Core business deals in in Fire Protection and Power Supply which is of recurring and / or maintenance nature, ie. need to be replaced after serveral years...

- Has an interesting and futuristic division on the Fitbone Technique (cosmetic & orthopedic surgery).

- It has been profitable for the last 5 years and its NTA has been increasing steadily over last 5 years.

- It has entered into green-field power plant projects with the aim of developing a new recurring incomestream. In June 2005, its wholly-owned subsidiary, Colben System Pte Ltd (“Colben”), signed a 10-year power purchase agreement with Electricite Du Cambodge (“EDC”), a state-owned utilities company, to develop two power generation projects (a 5MW plant in Sihanoukville and a 10MW plant in Phnom Penh) under a build-own-operate arrangement. The plants are scheduled to start operations towards the end of 2006.

The 1 thing I do not like about this company is that there was a drop in revenue in 2006, compare to 2005. This is due largely to the fall in sales from its Controlled Power Supply division, which had benefited from the completion of a number of major projects in the previous year.

Overall, I still like it! So, I bought in today at $0.19, I belive the intrinsic value to be $0.28... :)

More statistical details tomorrow or maybe the day after... watch this space! :)

Best of luck to your investing!

Warm regards, Fu Chin

P/S: As always, this is not a recommendation to buy or sell anything and investors should always do their own analyses when considering investing decisions.

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