SIA Engineering

Re: SIA Engineering

Postby Musicwhiz » Wed Mar 14, 2012 11:55 am

Chinaman wrote:Before the result is out, this ticker already flying above $4.00...today closed at $4.09.

Congrate to those bot earlier at 3.35...my TP is 4.30.

vested.


Hi there,

Any basis for your projected TP of $4.30? Is it based on an increase in dividends or an expected material increase in contribution from associates and joint venture companies?

Thanks.
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Re: SIA Engineering

Postby Chinaman » Wed Mar 14, 2012 9:09 pm

Musicwhiz wrote:
Chinaman wrote:Before the result is out, this ticker already flying above $4.00...today closed at $4.09.

Congrate to those bot earlier at 3.35...my TP is 4.30.

vested.


Hi there,

Any basis for your projected TP of $4.30? Is it based on an increase in dividends or an expected material increase in contribution from associates and joint venture companies?

Thanks.

me not a FA nor TA , cant even read a AR....i follow your update and if buy sometime below your cost price, my gut feeling should be a good buy, hehe follow the guru u wouldn't be far out...if the company CEO buy, also a good indication to buy.

Anyway, u are also correct i based-on their past dividend 2009 (11 cts) , 2010 (13 cts), and new business from soot newly formed budget airline.....it just my target sell price....knowing when to quit is important in today fast changing investment environment...hope my reply meet yr requirement.
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Re: SIA Engineering

Postby kennynah » Thu Mar 15, 2012 1:38 am

huat tat loh....order 鲍鱼,鱼翅 8-)
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Re: SIA Engineering

Postby Musicwhiz » Thu Mar 15, 2012 1:46 pm

Hi Chinaman,

Thanks for sharing your thoughts. Don't worry, I have no "requirements" haha. This is a forum where we share views and opinions; so I am open to anything.

Of course, I do have my own methods for assessing SIA Engineering and how attractive it is. When the Company releases results in mid-late May 2012, I will be reviewing them again and upating my mental models.
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Re: SIA Engineering

Postby Musicwhiz » Sat May 19, 2012 8:27 am

SIA Engineering has released FY 2012 results and declared a final dividend of 15 cents/share, above my expectations of 12 cents/share.

This week's issue of The Edge Singapore has a writeup on SIAEC and its dividend yield.
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Re: SIA Engineering

Postby winston » Wed Jul 25, 2012 8:37 am

not vested

SIA Engineering said its first quarter net profit rose 2.9 percent to S$70.1 million from a year ago, helped by higher revenue from its fleet management programme and line maintenance.


Source: Reuters
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Re: SIA Engineering

Postby Musicwhiz » Wed Jul 25, 2012 2:28 pm

SIAEC has just released its 1Q FY 2013 results ended June 30, 2012.

Revenues rose +8.2% y-o-y, but due to higher staff costs, operating profits fell -0.9%. The saving grace came from share of profits from JV and associates, which increased +7.5% from $37.2m to $40m. As a result, profit attributable to shareholders increased 3% to $70.1m.

SIAEC continues to maintain a clean Balance Sheet with $574.5m in cash and just $2.2m in loans, for a net cash balance of $572.3m.

Looking over to the CFS, OCF has improved from $45m last year to $54m, while capex has not increased much (just $0.4m). Dividends received from JV and associates increased $3.7m to $36m, with ICF registering a +ve $20.1m from $13.3m last year. The result is that OCF + ICF yields $74m for 1Q 2013 compared to $58.3m last year.

Looking at the healthy cash position of SIAEC, and the fact that global aviation is still growing despite the Euro problems and China's slowdown, would it be unreasonable to expect an increased interim dividend of 7 cents/share (1H 2012: 6 cents/share) come Oct 2012?

(Vested)
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Re: SIA Engineering

Postby winston » Wed Oct 31, 2012 9:01 am

not vested

Aircraft maintenance, repair and overhaul firm SIA Engineering said its second-quarter net profit fell 5.8 percent from a year earlier to S$67.1 million ($55 million), dragged down by foreign exchange loss and higher expenses.

Source: Reuters
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Re: SIA Engineering

Postby winston » Wed Feb 06, 2013 8:50 am

not vested

SIA ENGINEERING CO LTD - SIA Engineering said its third quarter net profit rose 5.5 percent to S$67 million from a year ago, helped by an increase in materials and line maintenance revenue.

Source: Reuters
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Re: SIA Engineering

Postby winston » Wed Feb 06, 2013 3:16 pm

not vested

Shares of SIA Engineering Co Ltd dipped as much as 3.6 percent to a two-week low after it reported weaker-than-expected third-quarter earnings. Some 778,000 shares were traded, 2.2 times the average full-day volume over the past 30 days.

CIMB Research said the company's third-quarter net profit was 10 percent below its forecast and 6 percent below consensus due to lower fleet and project revenue.

"This is the time to book some profits off SIA Engineering on unexciting 3Q13 results and 33 percent share price outperformance since January 2012. We believe capacity growth in Changi Airport and high hangar utilisation from airframe maintenance have been factored in," CIMB said.

CIMB said SIA Engineering's valuation was "stretched" at a price-earnings ratio of 18 times for 2013, near its peak of 19 times. But CIMB maintained its 'neutral' rating on the stock, citing the dividend yield of 4.5 percent.


Source: Reuters
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