BRC Asia Limited *Official* (SGX:BEC)

[Perisher]

Anyone watching or vested in this?
On strong uptrend since breaking 0.63, broke another resistance at 0.825 recently too...
Looks like a super bullish run but reasons?
Steel uprising?

http://repository.shareinvestor.com...4f97d08291d905830882de9abeb5e7d7/type/si_news

BRC Asia Limited 12 May 2017

A profitable first half despite a marginal comprehensive
loss in the second quarter due to Forex
• Lower revenues and delivery volume in a weak construction market
environment
• Net profit of S$0.11 million and S$1.99 million for 2Q17 and 1H17
respectively
• Loss of S$0.54 million for 2Q17 at total comprehensive level after forex
losses

Singapore, 12 May 2017 – SGX-Mainboard listed BRC Asia Limited (“BRC” or “The Group”), one of the largest prefabricated steel reinforcement providers in Singapore, reported lower revenues of S$148.85 million (↓ 12% y-o-y) and S$68.83million (↓13% y-o-y) for the half and quarter ended 31 March 2017 (1H17 and 2Q17) compared to corresponding periods in the previous financial year (1H16 and 2Q16) due to lower delivery volume in a weak and down-trending construction market environment.

This was despite slightly higher gross profit margins, which can be attributed to a recent uptick in local selling prices that is due to up-trending steel prices.

In terms of profit and loss, the Group closed the first half of the current financial year with a net profit of S$1.99 million after making only S$0.11million in the second quarter.

However, at the total comprehensive level, foreign currency translation
losses and exchange losses on net investment in foreign operations of S$0.95 million and S$0.65 million in 1H17 and 2Q17 respectively lowered 1H17’s number to S$1.04 million and pushed 2Q17 into a loss of S$0.54 million.

 

[Perisher]

http://www.barrons.com/articles/this-singaporean-stock-could-be-more-than-60-undervalued-1496290774

Singaporean steel maker HG Metal Manufacturing (BTG.SG) has been urged by activist fund Quarz Capital Management to take “immediate steps to address the severe undervaluation” of its shares.

HG Metal Manufacturing shares trade at just 0.4 times of what Quarz dubs a highly liquid and easily valued book value. While Quarz commends HG Metal’s management team for its efforts in steering the company through one of the toughest slumps in steel prices, the activist fund argues the company could do more to address the undervaluation of its shares. In a letter to HG Metal, Quarz writes:

Quarz Capital Management proposes (QCM) that HG Metal conducts a full strategic review on the potential divestment of its non-core but substantial 22.6% stake in BRC Asia with a market value in excess of SGD 30 million (67% of Mkt Cap). Quarz believes that multiple buyers are interested in building up substantial stakes in BRC Asia as evident by the unsolicited bid announced by the company recently. Any of the buyers could establish a near majority control of BRC with the purchase of HG’s stake and a proportion of additional market and selective purchases from other less substantial shareholders. Quarz proposes that part of this capital released can be returned to shareholders upon the completion of the sale through dividends or share buyback. Quarz also urges the company to immediately distribute up to SGD 10 million (22% dividend yield) of the excess net cash of SGD 29 million which is currently held by the firm.

Due to the structural headwinds faced by the Trading Division, QCM recommends the firm to scale back on its Trading Division and to redeploy the capital and human resources released to its Manufacturing Division whose profitability is leveraged to the structural trend of increasing construction productivity and the improving construction sector in Singapore. QCM has delivered the following letter to HG Metal Manufacturing Limited’s management team, board of directors and other stakeholders.
It’s not the first time that Quarz has pointed out a Singaporean company that could potentially boost its valuation with some management fixes. The fund has been prolifically scouring the Lion City for activist investing cases given its wealth of “extremely high quality” companies that are partially family-owned, have low levels of debt and often undervalued. For more, please see Activist Fund Sees Value in Singapore Stocks.

 

[henrylbh]

Got 60,000 shares but breakeven at 88c

 

[Perisher]

Got 60,000 shares but breakeven at 88c

And you buy it because? Steel price looking up?

 

[henrylbh]

And you buy it because? Steel price looking up?

Bought it in mid 2014 and suffered paper loss since then.

Don't think steel price looking good but I remember there is recent announcement of takeover/buyout?.

 

[xersion]

Steel price is going up... Raw materials required to cast steel for EAF AND LF is going shortage worldwide.
China import bars prices is going on a uptrend

Sent from OPPO X9079 using GAGT

 

[Shion]

BRC Asia gets takeover offer of 92.5 cents a share

BRC Asia gets takeover offer of 92.5 cents a share

http://www.straitstimes.com/business/brc-asia-gets-takeover-offer-of-925-cents-a-share

SINGAPORE - Singapore-listed steel player BRC Asia has received a conditional cash offer from Esteel Enterprise at an offer price of 92.5 Singapore cents a share.

Esteel Enterprise is a vehicle that is 80 per cent owned by one You Zhenhua and 20 per cent owned by one Liu Bin.

Esteel is making the offer after having acquired some 81.6 million shares from Lingco Marine, Lingco Holdings, Mr Seah Kiin Peng, Sin Teck Guan (Pte) Ltd and Mr Lim Siak Meng at 92.5 Singapore cents per share on Friday (Sept 8).

This gives Esteel a 43.77 per cent stake in BRC Asia, and triggers a mandatory offer under the Takeover Code.

BRC Asia was the most active counter on Friday.

The shares jumped four cents or 4.88 per cent on volume of 84.6 million on Friday to close at 86 Singapore cents before the announcement was made.

 

[Shion]

http://infopub.sgx.com/FileOpen/Offer Announcement Final.ashx?App=Announcement&FileID=470139

 

[henrylbh]

Heng arh.

My 60,000 shares bought since mid 2014 at 88c was down by as much as 24k at one time.

Now kena makan at 92.5c

 

[Perisher]

the takeover offer like not very attractive...

 

[Shion]

HG Metal sells stake in BRC Asia for $39 million

HG Metal sells stake in BRC Asia for $39 million

http://www.straitstimes.com/busines...-metal-sells-stake-in-brc-asia-for-39-million



SINGAPORE - Steel distributor HG Metal Manufacturing is selling its 23 per cent stake in mainboard-listed steel mesh maker BRC Asia to Esteel Enterprise for S$39 million.

Esteel Enterprise made a mandatory conditional cash offer for BRC Asia shares on Sept 8.

In deciding to sell its stake, HG Metal Manufacturing said it took into account the financial performance of BRC Asia, its challenging business prospects going forward with the construction industry experiencing difficult and tough market conditions, as well as the substantial increase in the price of BRC Asia shares since May 31.

"The company has reviewed its investment strategy in BRC Asia and considers it an opportune time to realise its investment in BRC Asia and apply the proceeds to other business and investment opportunities which are more likely to enhance shareholder value," it said in its exchange filing on Saturday (Sept 9).

The move comes after activist fund Quarz Capital Management - a minority shareholder of HG Metal - earlier urged the firm to consider selling its stake in BRC Asia.

Although HG Metal is BRC Asia's second-largest shareholder, its stake "currently provides no tangible value and/or contribution to HG's operations", Quarz wrote in an open letter to the HG Metal board in May.

It suggested that part of the sale proceeds could be returned to shareholders.

 

[xiaosinsinful]

the takeover offer like not very attractive...

true , the offer is about same as current value. what happens if we continue to keep it?? anyone selling??

 

[henrylbh]

true , the offer is about same as current value. what happens if we continue to keep it?? anyone selling??

Most likely price will drop after that and becomes inactive again.

I sold off my 60,000 at 91c.

 

[Sinkie]

Unconditional this morning

 

[Pocoyoz]

1.28
......

 

[Perisher]

up 50% jsk

http://www.businesstimes.com.sg/sto...-reit-cache-logistics-trust-healthway-medical

BRC Asia: Steel prefabrication firm BRC Asia will resume trading of its shares on Friday, Dec 1 after its free float was restored to the 10 per cent level required under exchange rules. Trading in its shares had been suspended on Oct 31 after a takeover bid by Esteel Enterprise - an investment vehicle for a trio of Chinese iron and trading businessmen - ended with Esteel holding a 95.83 per cent in the firm.

 

[Debron]

Up more than 50% after trading resumption and there is nothing that has changed fundamentally from the close of the offer till now to explain this big jump. I wonder why SGX has not issued a query.

 

[Pocoyoz]

2017 Eps 1.137 cents
Pe 132 Jsm

Sent from Pocoyo fan club using GAGT

 

[chiokcc]

$2!!! .................

 

[Pocoyoz]

TUE, NOV 28, 2017 - 8:46 PM
STEEL prefabrication firm BRC Asia has appointed former minister Teo Ser Luck as its non-executive chairman.

Mr Teo, 49, will also be independent director of the company and a member of its audit committee. Mr Teo is currently the non-executive independent deputy chairman of Serial System Ltd and an independent director at United Engineers Limited.

BRC Asia also said in the exchange filing on Tuesday that it has appointed Xu Jiguo as an executive director of the company.

These appointments come as Sia Ling Ling, Lim Siak Meng, Lau Eng Tiong and Foo Sey Liang resigned as directors of the company.

The appointments and resignations all take effect from Nov 28.
p/e 175X
bcos of this