Mecisteus
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This one is a good pick on the surface. Financials have been steady and positive over the years.
Spindex Industries - 5.6% Yield, P/E 6, 50% discount to NTA
- Thread starter starbugs
- Start date
This one is a good pick on the surface. Financials have been steady and positive over the years.
lioninvestorco
Member
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Anyone knows why? This one was in my shortlist but I wasn't vested :/
ccostagmont
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- Jul 18, 2007
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RobinTeoHood
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- Oct 1, 2010
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pinnacle_star
Member
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- Dec 7, 2015
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EH BRUDDER... DIS ONE ONRI 100 SHARES TRADED...
WAH.. Low volume plus SCB no input price = 14%
wahkao3
High Supremacy Member
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- Mar 6, 2005
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EH BRUDDER... DIS ONE ONRI 100 SHARES TRADED...
technically it chiong 14% using last done price.
lioninvestorco
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technically it chiong 14% using last done price.
Woah 100?? Lol. Thanks bro! I dun feel that Sian Liao haha
ccostagmont
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technically it chiong 14% using last done price.
dis one tiagong is some holder deliberately buy 100 shares to create the fake scenario dat price chiong sky high to lure in pple to buy; den he sell @ high price to next holder.
ccostagmont
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u go check de top 20 % price increase everyday on sgx.com...
sure got those funny funny ones...
+50%, +66%, etc... but onri 0.1 lots traded... den next day & following weeks no sound no shadow liao...
Shion
Senior Mentor
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Possible three-way tussle for Spindex Industries
Possible three-way tussle for Spindex Industries
http://www.straitstimes.com/business/possible-three-way-tussle-for-spindex-industries
A three-way tussle may be brewing for Spindex Industries, with its founding Tan family revealing that they have been approached by two separate parties who are mulling over launching their own offers for the precision engineering firm.
One of these parties is private equity firm Northstar. The identity of the other has not yet been revealed.
In a surprise announcement late last Friday, Northstar said it is "considering all options with respect to Spindex". This includes making a conditional offer for Spindex shares at a price above the 85 cents a share that the Tans had offered for an acquisition via a scheme of arrangement on Feb 9. Northstar added that it will issue a letter to Spindex requesting that it be permitted to carry out due diligence on the group.
Separately, the Tan family's offer vehicle Hong Wei said it had been approached by two separate parties "who have indicated separate interests to explore a transaction with the offeror with a view to making an offer for the company". Both parties have made a request for due diligence but neither has put forward either a firm offer or a specific offer price, it said. So far, the Tans have accumulated a 44.68 per cent stake in Spindex.
In the face of possible competing bids, the Tans have terminated the proposed scheme of arrangement, and intend to proceed by means of a general offer. However, they are sticking to their offer of 85 cents, which they said they do not intend to revise.
Spindex shares last changed hands at 85 cents last Wednesday. Singapore-headquartered Northstar also launched a takeover offer for precision machine parts maker Innovalues last October. Innovalues is set to be delisted soon.
Possible three-way tussle for Spindex Industries
http://www.straitstimes.com/business/possible-three-way-tussle-for-spindex-industries
A three-way tussle may be brewing for Spindex Industries, with its founding Tan family revealing that they have been approached by two separate parties who are mulling over launching their own offers for the precision engineering firm.
One of these parties is private equity firm Northstar. The identity of the other has not yet been revealed.
In a surprise announcement late last Friday, Northstar said it is "considering all options with respect to Spindex". This includes making a conditional offer for Spindex shares at a price above the 85 cents a share that the Tans had offered for an acquisition via a scheme of arrangement on Feb 9. Northstar added that it will issue a letter to Spindex requesting that it be permitted to carry out due diligence on the group.
Separately, the Tan family's offer vehicle Hong Wei said it had been approached by two separate parties "who have indicated separate interests to explore a transaction with the offeror with a view to making an offer for the company". Both parties have made a request for due diligence but neither has put forward either a firm offer or a specific offer price, it said. So far, the Tans have accumulated a 44.68 per cent stake in Spindex.
In the face of possible competing bids, the Tans have terminated the proposed scheme of arrangement, and intend to proceed by means of a general offer. However, they are sticking to their offer of 85 cents, which they said they do not intend to revise.
Spindex shares last changed hands at 85 cents last Wednesday. Singapore-headquartered Northstar also launched a takeover offer for precision machine parts maker Innovalues last October. Innovalues is set to be delisted soon.
Shion
Senior Mentor
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Shion
Senior Mentor
- Joined
- Oct 24, 2008
- Messages
- 360,650
- Reaction score
- 110,689
Shion
Senior Mentor
- Joined
- Oct 24, 2008
- Messages
- 360,650
- Reaction score
- 110,689
Shion
Senior Mentor
- Joined
- Oct 24, 2008
- Messages
- 360,650
- Reaction score
- 110,689
Spindex sells industrial property to JTC Corp at discounted price of $3.7 mil
https://www.theedgesingapore.com/spindex-sells-industrial-property-jtc-corp-discounted-price-37-mil
https://www.theedgesingapore.com/spindex-sells-industrial-property-jtc-corp-discounted-price-37-mil
Shion
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Spindex Industries posts 53.1% higher earnings of $9.6 mil for 1H21
Spindex Industries posts 53.1% higher earnings of $9.6 mil for 1H21
https://www.theedgesingapore.com/ca...ustries-posts-531-higher-earnings-96-mil-1h21
Spindex Industries, a precision machines components manufacturer and assembly solutions provider, has reported earnings of $9.6 million for the 1HFY2021 ended December, 53.1% higher than earnings of $6.3 million the year before.
Spindex was highlighted as one of The Edge Singapore’s stocks to watch in Issue 970 for its attractive valuations.
Earnings per share (EPS) for the 1HFY2021 stood at 8.31 cents on a fully diluted basis, compared to EPS of 5.43 cents the year before.
Turnover for the six months ended December grew 22.5% y-o-y to $98.9 million, due to higher demand for the group’s products amid the Covid-19 pandemic.
“In some cases, working from home requires new or additional office equipment at home. Time spent on new hobbies at home and work around the house have contributed to additional demand for some domestic appliances,” says the company in a Feb 10 statement.
Some backlog of orders, changes in the global supply chain and forward stocking in anticipation of supply chain disruptions also contributed to the growth.
The growth in the group’s turnover was broad based across all business sectors.
The higher turnover contributed to a 47.1% y-o-y increase in gross profit to $24.1 million.
Gross profit margin (GPM) grew 4.1 percentage points to 24.4% in 1HFY2021, contributed by a lower material price environment during the early part of the pandemic of lower forecasted demand.
The higher GPM was also due to the effect of scale with higher turnover and product mix in the latter part of the period.
Other operating income surged 76.2% y-o-y to $1.7 million due to government support grant received and higher scrap income.
Administrative expenses rose 50% y-o-y to $11.6 million mainly due to a foreign exchange reversal from a weaker US dollar against the Asian currencies.
For the 1HFY2021, the group’s profitable operations generated a net cash inflow of $6 million. Proceeds from bank borrowings amounted to $5 million. The two main cash outflow items under investing and financing activities were purchase of property, plant and equipment and payment of dividends totalling $13.3 million.
Due to the higher cash outflows, cash and cash equivalents as at Dec 31, 2020, decreased from $51.2 million to $47.7 million.
The group says the containment of the Covid-19 virus as vaccines are being rolled out and its consequential impact may not necessarily be co-related with regard to the group’s business.
“In view of such uncertainty, the near term market conditions are likely to remain volatile,” it says.
“Furthermore, countries that the group operates in are also subject to varying measures of control, such as lockdowns, which may impact its operations.”
“With a strong balance sheet, the group has invested prudently in plant and machinery in an optimal network across Asia,” it adds.
Shares in Spindex closed flat at 98 cents on Feb 10.
Spindex Industries posts 53.1% higher earnings of $9.6 mil for 1H21
https://www.theedgesingapore.com/ca...ustries-posts-531-higher-earnings-96-mil-1h21
Spindex Industries, a precision machines components manufacturer and assembly solutions provider, has reported earnings of $9.6 million for the 1HFY2021 ended December, 53.1% higher than earnings of $6.3 million the year before.
Spindex was highlighted as one of The Edge Singapore’s stocks to watch in Issue 970 for its attractive valuations.
Earnings per share (EPS) for the 1HFY2021 stood at 8.31 cents on a fully diluted basis, compared to EPS of 5.43 cents the year before.
Turnover for the six months ended December grew 22.5% y-o-y to $98.9 million, due to higher demand for the group’s products amid the Covid-19 pandemic.
“In some cases, working from home requires new or additional office equipment at home. Time spent on new hobbies at home and work around the house have contributed to additional demand for some domestic appliances,” says the company in a Feb 10 statement.
Some backlog of orders, changes in the global supply chain and forward stocking in anticipation of supply chain disruptions also contributed to the growth.
The growth in the group’s turnover was broad based across all business sectors.
The higher turnover contributed to a 47.1% y-o-y increase in gross profit to $24.1 million.
Gross profit margin (GPM) grew 4.1 percentage points to 24.4% in 1HFY2021, contributed by a lower material price environment during the early part of the pandemic of lower forecasted demand.
The higher GPM was also due to the effect of scale with higher turnover and product mix in the latter part of the period.
Other operating income surged 76.2% y-o-y to $1.7 million due to government support grant received and higher scrap income.
Administrative expenses rose 50% y-o-y to $11.6 million mainly due to a foreign exchange reversal from a weaker US dollar against the Asian currencies.
For the 1HFY2021, the group’s profitable operations generated a net cash inflow of $6 million. Proceeds from bank borrowings amounted to $5 million. The two main cash outflow items under investing and financing activities were purchase of property, plant and equipment and payment of dividends totalling $13.3 million.
Due to the higher cash outflows, cash and cash equivalents as at Dec 31, 2020, decreased from $51.2 million to $47.7 million.
The group says the containment of the Covid-19 virus as vaccines are being rolled out and its consequential impact may not necessarily be co-related with regard to the group’s business.
“In view of such uncertainty, the near term market conditions are likely to remain volatile,” it says.
“Furthermore, countries that the group operates in are also subject to varying measures of control, such as lockdowns, which may impact its operations.”
“With a strong balance sheet, the group has invested prudently in plant and machinery in an optimal network across Asia,” it adds.
Shares in Spindex closed flat at 98 cents on Feb 10.
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