Kevin's blog
Innotek went ex-dividend today (my mistake thought it was yesterday)......what should you do with the stock ???
Tuesday, 4 May, 2010  8:32 AM
Posted by Kevin Scully

 Innotek is one of my Stock Picks - the shares went ex-dividend yesterday.   An investor asked me what to do with the stock.  

Innotek is in a very unique position as a tech stock.  It has a very strong balance sheet with gross cash of more than S$100mn.  Its NTA is S$0.85 and its set to have a good Q1 and Q2 and also 2010 in terms of profits for its remaining stamping business.  On PER, dividend yield and price to book, the stock is attractive.   So even though its gone ex-dividend, it still warrants a place in my portfolio and will review my price target once its Q1-2010 results are released.   But tech stocks are always vulnerable to the cyclical nature of their business and earnings.  For the next two quarters at least and unless otherwise guided by management, the outlook remains good.

 

Comments

XD
What is fair price trading today after XD? It will adjust by the exact amt? How to find info on companies going XD?

Thanks

     Daz  on 4 May 2010  09:05 AM
Innotek went ex-div today, drop 5ct
Hi Kevin, innotek went ex-div today, not yesterday. What is your take on Adampak? Adampak is a relatively quiet counter, only covered by DMG. It is financially strong and has a regular and high div policy. According to shareinvestor, the div yield is 7.5%. I think it will ride strong on technology recovery also.

     Liew  on 4 May 2010  09:16 AM
Innotek and Adam Pak
Liew thanks for the correction on the ex-date. Daz i got the info from the SGX website...anyone know other locations - please share with us.

Thanks for the lead on AdamPak - will look into it.

     Kevin  on 4 May 2010  09:23 AM
ADAMPAK - Another Cheap HDD Gem (LIM & TAN recommend)
It is such a coincidence that Lim & Tan also recommend Adampak today but no tp indicated. But I am not able to attach the link here because I read it through my trading account. If it happens to be update at: http://www.remisiers.org/research.html then I will be able to provide the link here.

     Liew  on 4 May 2010  03:24 PM
PPL Shipyard
Hi Kevin,

Something is not quite right regarding the proposed sale of Baker Tech's 15 % interest (direct + indirect) in PPL Shipyard to Yangzijiang. The offer price was reported to be US $155m (approx S$225m), but yet SembCorp Marine is tendering a price of only S$59.4m (US$41m). The discrepancy in the price valuation is too large, and it is difficult to fathom Yangzijiang's high offer price, considering that it doesn't come with a controlling interest in the shipyard.

In fact, Yangzijiang's offer means that it is valueing the shipyard at US$1.03bn (S$1.5bn) which is an astounding figure! In my opinion, I think SemCorp Marine's valuation of PPL Shipyard at about S$400m is a more realistic figure, given current market conditions.

Do you have any information regarding this transaction, or the likelihood of a long drawn legal tussle of transfer of shareownership (which I think is most unlikely given the fact that most private limited companies have certain provisions in their M & A relating to sale and transfer of their shares) ?

     C.C. Low  on 4 May 2010  03:48 PM
ADAMPAK - Another Cheap HDD Gem (LIM & TAN recommend)
The link for Adampak is just out at here: http://www.remisiers.org/research//dailyex0405.pdf

     Liew  on 4 May 2010  05:14 PM

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