Poh Tiong CHoon

[unclebutcher]

guys, the past 2 weeks the SSH's for this company has been buying up this share. full year results is due in 4 weeks time. something brewing?

 

[Paul Lee]

There's been a lot of insider trades with a lot directors and related person buying in recently.

Nick from Valuebuddies summarised some of the trades as follows:

Adrian Ho has increased his stake from 6.24% (13.456 million shares) in June 2010 to 10.01% (21.6 million shares) in Jan 2011 by purchasing shares regularly over the past 6 months.

Poh Key Boon increased his stake in the company from 0 in Aug 2010 to 500,000 shares (0.23%) in Sept 2010.

PCAPL purchased 453,000 shares in Jan 2011 to boost its stake from 22.24% to 22.44%.

PTC has an unbroken dividend record from FY 2000 to FY 2009 and its been steadily rising year by year. Average div yield (based on FY end price not historical) is around 8.36%.

Its share capital has remind at 215 million since listing in Apr 1999. That means it has not issued any rights, bonus, placement or any equity rising that dilute shareholding.

It has a positive operating cash flow for the last 10 years and generated FCF of 22 mil for last FY. It balance sheet is kinda ugly though as it current ratio has been less than 1 for the last 3 FYs.

Its also celebrating its 60th Anniversary this year, so maybe a bonus dividend could be on the card.

The share close yesterday at its all-time high 47.5c.

(Vested)

 

[unclebutcher]

Paul, what's your opinion of this?

peter lynch once said that insiders sell for a multitude of reasons, but buy only because they think the price is going up...

 

[earthyblue]

Paul, what's your opinion of this?

peter lynch once said that insiders sell for a multitude of reasons, but buy only because they think the price is going up...

From the way Paul has analysed,

1. PTC has an unbroken dividend record from FY 2000 to FY 2009 and its been steadily rising year by year. Average div yield (based on FY end price not historical) is around 8.36%.

2. It has a positive operating cash flow for the last 10 years and generated FCF of 22 mil for last FY.

3. Adrian Ho has increased his stake from 6.24% (13.456 million shares) in June 2010 to 10.01% (21.6 million shares) in Jan 2011 by purchasing shares regularly over the past 6 months.
Poh Key Boon increased his stake in the company from 0 in Aug 2010 to 500,000 shares (0.23%) in Sept 2010.
PCAPL purchased 453,000 shares in Jan 2011 to boost its stake from 22.24% to 22.44%.

This 3 points should be quite good reasons to invest in it.

 

[Paul Lee]

Some more insights to PTC:

1) Gross margin for last 3 FY (2007-2009):9.5%, 11%, 15.2%

2) Net Profit Margin: 8.5%, 9.2%, 13%

3) EPS (cents): 3.31, 4.46, 6.66

4) Dividend (cents): 2.75, 2.3, 3.5

5) Dividend Yield (based on FY end price): 12.2%, 15.3%, 9%

6) Current Ratio: 0.59, 0.7, 0.79

7) Cash flow from Ops (mil): 14.7, 13.7, 34.9

8) Cash at year end (mil): 8.8, 11.2, 15.2

Disclaimer: Not an inducement to buy. Pls do your own analysis. Vested in PTC.

 

[unclebutcher]

had a cursory look at it's 2008 and 2009 annual report.
it's a stable stock, high div yield, strong insider ownership.
Assuming div yield from last yr does not increase, div yield is 7.2% at 0.480.
I am very interested why the insiders are furiously buying the counter.
Queued at 0.480.

 

[unclebutcher]

got in at 0.48. dropped to 0.47 though grrrrr. but let's see how it performed for fy2010.

 

[Shion]

http://infopub.sgx.com/FileOpen/Offer_Announcement.ashx?App=Announcement&FileID=471198

http://infopub.sgx.com/FileOpen/Press_Release.ashx?App=Announcement&FileID=471199

 

[Shion]

Poh Tiong Choon chairman makes S$1.30/shr takeover offer

Poh Tiong Choon chairman makes S$1.30/shr takeover offer

http://www.businesstimes.com.sg/com...g-choon-chairman-makes-s130shr-takeover-offer

A consortium led by Poh Tiong Choon Logistics' chairman, Poh Choon Ann, is making an offer to takeover the Singapore-listed firm at S$1.30 a share, valuing one of Asia's largest land transport providers at S$275.5 million.

The offer is made by Respond Logistics, a vehicle used by the consortium comprising Mr Poh and Tower Capital Logistics L.P., an affiliate of Tower Capital Asia. So far, it has obtained irrevocable undertakings from owners holding 66.7 per cent shares to accept the offer. On completion of the deal, Poh Tiong Choon will be privatised, and delisted from the Singapore Exchange.

Mr Poh, who is also the Chief Executive Officer, said the company has been operating in a challenging business environment and continued to be affected by costs and the tightening of the labour market and interest rate fluctuations.

"We believe the offer price presents an attractive offer to the shareholders of the company who find it difficult to exit the company as a result of the low trading volume in shares,'' Mr Poh said.

He added that the delisting will enable the company save on expenses relating to the maintenance of a listed status and focus its resources on its business operations.

At S$1.30 a share, the offer price represents a 32.5 per cent premium to the 1-month volume weighted average price per share.

The trading volume of the shares has been generally low, with an average daily trading volume of about 12,000 shares for the 1 month to September 19, 2017.

Poh Tiong Choon was founded in 1950 and was listed on the main board of the Singapore Exchange in 1999. It was founded by the two eldest Poh brothers. Mr Poh, who is in his early 80s, joined the company in 1964. He has a deemed interest of 24.27 per cent in the company.

 

[Mancunian2]

$1.30 tell him go and fly kite

 

[Paul Lee]

NOOOOO!! Not another one!!

ARA - gone. GLP - going. CWT - also going. Now PTC.

I feel bits and pieces of my carefully constructed portfolio being stripped away one by one.

 

[Mancunian2]

NOOOOO!! Not another one!!

ARA - gone. GLP - going. CWT - also going. Now PTC.

I feel bits and pieces of my carefully constructed portfolio being stripped away one by one.

many of my best investments were exited via mandatory buyouts and delistings

over the years, more than a dozen such cases

 

[kannis_ng]

Wad is this co

 

[Perisher]

NOOOOO!! Not another one!!

ARA - gone. GLP - going. CWT - also going. Now PTC.

I feel bits and pieces of my carefully constructed portfolio being stripped away one by one.

many of my best investments were exited via mandatory buyouts and delistings

over the years, more than a dozen such cases

you guys are good at collecting solid company, the valuations of these companies are too low, not worth it to list.
PTC offering low ball price though...

 

[nagyagyutunder]

there's delong to help you

 

[Shion]

you guys are good at collecting solid company, the valuations of these companies are too low, not worth it to list.
PTC offering low ball price though...

To think that they hit their highs of 1.465 ~ 1.47 just barely 6 months ago in April...