CSE Global [Official]

winorlose

Arch-Supremacy Member
Joined
Jul 23, 2012
Messages
16,551
Reaction score
285
How is it considered fifo if u hold for so long

Its just a long position
 

Kenny1144

Junior Member
Joined
Oct 2, 2015
Messages
30
Reaction score
0
I like this counter, vested 2 months back at .43 bought 200lots( I'm talking 1lot/100shares in case some still living in the past) sold all today .455. Make some ultilies bill payment and food allowance... If drop I will buy again.
 

nomoreliaola

Arch-Supremacy Member
Joined
Mar 4, 2008
Messages
11,130
Reaction score
360
I like this counter, vested 2 months back at .43 bought 200lots( I'm talking 1lot/100shares in case some still living in the past) sold all today .455. Make some ultilies bill payment and food allowance... If drop I will buy again.

u using scb?
 

Singleton

Senior Member
Joined
Apr 10, 2013
Messages
1,158
Reaction score
0
did i miss the boat already:s11: got any chance for me to earn some makan $ to cover my meals expenses:(:o:(
 

Shion

Senior Mentor
Joined
Oct 24, 2008
Messages
320,183
Reaction score
80,652
CSE Global reports 53% drop in 3Q earnings to $4 mil on lower revenue

CSE Global reports 53% drop in 3Q earnings to $4 mil on lower revenue

http://www.theedgemarkets.com.sg/sg...ports-53-drop-3q-earnings-4-mil-lower-revenue

SINGAPORE (Nov 9): CSE Global posted a 52.7% drop in earnings for 3Q16 to $4 million from a year ago on the back of lower revenue.

Revenue for the quarter fell 21.6% to $80.9 million, driven by lower sales across all geographic regions, particularly in the oil and gas sector from the lack of large greenfield projects.

CSE Global has received orders for new projects worth $70.8 million, bringing the order book to $179 million at the end of the quarter.

The company expects better performance from the mining and infrastructure segment for FY16, however these segment will not make up for the poor performance in the oil and gas segment, says Lim Boon Kheng, group managing director, CSE Global.

“Consequently, the Group will deliver a lower profit in FY2016 as compared to FY2015, although it will remain cashflow positive for the current financial year,” says Lim.

“The Group anticipates that the challenging operating conditions will continue to put pressure on its profitability going forward,” he adds.

Shares of CSE Global closed down 0.5 cents at 41 cents on Wednesday.
 

Jupiter2017

Senior Member
Joined
Sep 2, 2017
Messages
1,479
Reaction score
0
http://www.businesstimes.com.sg/com...it-down-25-amid-struggling-oil-and-gas-sector
Wed, Nov 08, 2017 - 6:36 PM
CSE Q3 net profit down 25% amid struggling oil and gas sector

MAINBOARD-LISTED CSE Global on Wednesday posted a 25 per cent fall in net profit to S$3 million for its third quarter ended Sept 30, down from S$4 million a year ago.
The engineering company attributed this to lower gross margins achieved from the oil and gas sector, and a difficult business and operating environment.
Revenue grew by nearly 6 per cent from S$80.9 million last year to S$85.6 million. CSE Global said that this was due mainly to a 38.6 per cent growth in the Americas region, particularly in the oil and gas sector.
Earnings per share slipped from 0.78 Singapore cent to 0.58 Singapore cent. No interim dividend has been declared for the period.
CSE Global added that during the quarter, the group continued to secure new orders from both greenfield and brownfield projects totalling S$86.4 million, an increase of 22 per cent from the previous year due to higher flow orders.
As at the end of the quarter, the group's outstanding orders stood at S$207.6 million, only marginally lower than the S$207.9 million recorded last year.
Lim Boon Kheng, group managing director of CSE Global, said: "Given the current economic and the oil and gas industry conditions, CSE expects to report weaker operating performance for the next quarter."
He added that the group is in the midst of reviewing the collectability of its accounts receivables, as well as undertaking a financial review of its business units for the purpose of assessing the fair values of its investments.
Mr Lim said: "Consequently, we expect to report a loss for FY2017 but will remain in a net cash position at the end of the year."
 

Perisher

Greater Supremacy Member
Deluxe Member
Joined
Jan 5, 2015
Messages
84,276
Reaction score
10,137
https://www.businesstimes.com.sg/co...sh-discipline-higher-dividend-from-cse-global

ACTIVIST fund Quarz Capital Management is back in action, this time targeting mainboard-listed CSE Global, the process control and communications network system integrator.

In an open letter issued to the management and board of CSE Global on Monday morning, Quarz wrote that CSE's share price has slumped by over 40 per cent since 2015 and trades near its book value of S$0.34 share.

Blaming investors' lack of confidence in CSE on its leadership team's inadequate cost and operational discipline, Quarz is suggesting that CSE immediately distribute S$18 million of its S$48 million net cash position as a special dividend to shareholders.

At CSE's closing price of S$0.345 last Friday, this would represent a dividend yield of about 10 per cent, up from 8 per cent based on its last dividend announcement.

Quarz also flagged CSE's sharp fall in underlying net income from S$31 million in 2015 to S$13.3 million last year, despite spending S$28 million of shareholders' funds on seven acquisitions since 2015.

SEE ALSO: CSE Q4 posts S$37.3m loss

"The substantial loss of capital has triggered speculations of a reduction in dividend due to the lower net cash balance," Quarz wrote.

It is suggesting that CSE commit to pay at least 80 per cent of net income as dividend with a dividend payout floor of S$12.5 million (roughly, a 7 per cent dividend yield) instead.

CSE is a "cash-rich" but "poorly-managed" technology firm with recurring cash flow from maintenance and upgrade projects, Quarz wrote.

The question of misaligned interests was also thrown up.

CSE's board and management combined hold a small, roughly 2 per cent stake in the firm worth about S$3.8 million, Quarz wrote. But they drew a yearly compensation in excess of S$4.4 million in 2016 and more than S$7.5 million each year from 2012 to 2015, Quarz added.

Quarz wrote: "Top management and board is projected to pay themselves in excess of S$3.5 million with remuneration increasing to more than 25 per cent of 2017 underlying net profit (S$13.3 million)."

In fact, CSE made a net loss of S$45.1 million in 2017.

This is after taking into account a one-off loss of S$16.8 million for apparent violations of Iran sanctions by a subsidiary between 2012 to 2013, as well as a write-down of S$37.9 million of account receivables and intangibles last year.

"Losses have been labelled 'legacy issues' despite most of them (the board and management) present during the occurrences," Quarz wrote.

Quarz has a less than 5 per cent stake in CSE Global, but said that combined with its affiliates, it has built up a "sizeable position" in the company.

"We, together... hold a substantially larger shareholding than the current management and board of CSE combined," Quarz wrote, but declined to name its affiliates.

Quarz said that it wants to engage with the CSE board to unlock shareholder value, and may propose measures in annual general meetings or extraordinary general meetings to "expedite" this process.

This could involve the election of new board members and/or a sale of the firm, Quarz wrote.
 
Important Forum Advisory Note
This forum is moderated by volunteer moderators who will react only to members' feedback on posts. Moderators are not employees or representatives of HWZ. Forum members and moderators are responsible for their own posts.

Please refer to our Community Guidelines and Standards, Terms of Service and Member T&Cs for more information.
Top