| Latest Forum Topics / Tat Hong |
 Post Reply
|
|
Tat Hong Holdings
|
|||
|
edwinteo
Senior |
28-Jan-2011 01:42
|
||
|
x 0
x 0 Alert Admin |
hope it will run..but i only holding 1 lot..
|
||
| Useful To Me Not Useful To Me | |||
|
derekchong
Veteran |
27-Jan-2011 13:39
|
||
|
x 0
x 0 Alert Admin |
water receding in Australia and live going back to normal. Tat Hong is very busy with works orders. Good time to pick this counter now. |
||
| Useful To Me Not Useful To Me | |||
|
|
|||
|
edwinteo
Senior |
21-Jan-2011 22:46
|
||
|
x 0
x 0 Alert Admin |
this maybe a good news..tat hong only required 4 months to recover..(http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_969B60CB4A9FB8C54825781B005272F1/$file/THHAnntQueenslandfloodfinal170111.pdf?openelement). More construction needed in aussie means more business for tat hong...
|
||
| Useful To Me Not Useful To Me | |||
|
derekchong
Veteran |
21-Jan-2011 21:06
|
||
|
x 0
x 0 Alert Admin |
flood in Australia can only last for days but repair/rebuild of infrastructure projects will last for years. plenty of opportunity for Tat Hong. | ||
| Useful To Me Not Useful To Me | |||
|
bishan22
Elite |
29-Dec-2010 15:37
|
||
|
x 0
x 0 Alert Admin |
This counter has started to reverse. Keep in view. 
|
||
| Useful To Me Not Useful To Me | |||
|
|
|||
|
Bintang
Elite |
18-Nov-2010 20:37
|
||
|
x 0
x 0 Alert Admin |
Tat Hong kept on falling recently , n it may fall further to fill the gap at 96.5 cents before going down to the strong support at 200MA . | ||
| Useful To Me Not Useful To Me | |||
|
enghou
Senior |
16-Nov-2010 20:17
|
||
|
x 0
x 0 Alert Admin |
Tat Hong Holdings: Muted 2Q11 performance Summary: Tat Hong Holdings (Tat Hong) reported its 2Q11 results with revenue of S$145.6m (+19.8% YoY; -2.2% QoQ), gross profit of S$53.9m (+11.6% YoY; -1.0% QoQ) and net profit of S$7.1m (+6.5% YoY; -31.7% QoQ). Excluding non-operating items such as goodwill impairment and forex, we estimate that core net profit would have amounted to S$11.1m (+43.0% YoY; +10.3% QoQ). With the exception of General Equipment Rental, all other segments reported revenue growth. However, gross profit margins declined owing to the scaling down of projects with premium rates, intense competition and escalating costs. We have trimmed our projections to reflect lower margin assumptions. While we continue to project earnings recovery in FY11, the road to recovery appears lumpy and more gradual than previously anticipated. Our fair value estimate has been lowered to S$0.99 (previously S$1.10) on lower earnings estimates. We reduce our rating toHOLD. An interim dividend of 1 S cent has been declared. Source: OCBC Secs Make Love More, Don't Make More Enemies |
||
| Useful To Me Not Useful To Me | |||
|
Pinnacle
Master |
15-Nov-2007 14:21
|
||
|
x 1
x 0 Alert Admin |
CIMB - Tat Hong Holdings (S$2.70) - 2QFY08 results - Towering above the competition Tat Hong?s 2QFY08 net profit of S$22.9m (+147% yoy) exceeded consensus and our estimates by 40%, attributable to significantly improved margins from better equipment sale margins and equipment rental rates. Gross margins rose to 40.6% in 2QFY08 from 38.1% in 1QFY08 and from 29.2% a year ago. Management expects a continued trend of better pricing for sales of both new and used equipment, rising rental rates and improved utilisation of equipment. We are factoring higher margin assumptions and stronger revenues. We raise our net profit forecasts by 43-53% for FY08-10, with a new target price of S$3.87 (previously S$2.84) on an unchanged basis of 15x CY08 P/E. |
||
| Useful To Me Not Useful To Me | |||
|
|
|||
|
Pinnacle
Master |
15-Nov-2007 12:41
|
||
|
x 0
x 0 Alert Admin |
OCBC - Tat Hong Holdings Ltd: Surpassing expectations again! Stellar results continued into 2Q08. Tat Hong Holdings (THH) posted stellar 2Q08 results yesterday. Net profit surged to S$22.9m (147% YoY, 32% QoQ), underpinned by an increase in revenue to S$160.2m (52% YoY, 16% QoQ), and record gross profit margins of 40.6% (increment of 11.4ppt YoY). Improvement came from all its business segments, with Crane Rental division registering the highest growth. As such, the management has declared interim after-tax dividends of 3.26 cents per share. Acquisition boosted Australia contribution. THH's 70%-owned, Australian-listed Tutt Bryant Group Limited (TBG) contributed 61% to THH's top-line or S$98.0m (a rise of 6.4% QoQ) and 40% to THH's bottom-line or S$9.2m (an increase of 39% QoQ) in 2Q08. The increase was from TGB's recent acquisitions of Muswellbrook Crank Services Pty Ltd and North Sheridan Pty Ltd. Going forward, TBG intends to expand the operations in Australia and secure long-term structured rental contracts from the oil and gas industry. Sustained income visibility given Singapore Government's recent projects push-back move. The government announced on Tuesday that it would be postponing several public projects to ease the overstretched construction resources. This translates to a longer income visibility from the prolonged utilisation of THH's cranes as these projects are rescheduled to 2010 and beyond. On the other hand, we do note that the margins garnered may not be as high compared to that today as we foresee the tight supply market to ease up by 2010. Gearing up the tower crane business in China. THH has been making significant inroads into China, building on Fushun Yongmao and Shanghai Tat Hong Equipment Rental. Going forward, the management would be increasing its rental fleet from the present number of 160 to 200 tower cranes by 2008. The management also guided that contributions from China is expected to make up 20% of THH's bottom-line by 2010. Raising fair value to S$3.30. Going forward, the buoyant construction and infrastructure scene in the region bodes well for THH's earnings growth visibility. Moreover, the ability to redeploy cranes between geographical regions works in favour for THH utilisation rate. In light of the strong results we are bumping up our FY08F and FY09F revenue to S$714.8m and S$848.3m and net profit to S$99.8m and S$109.4m respectively to account for the continual boom in construction spending. Rolling over our valuation to FY09, our fair value is now S$3.30 (from S$2.34) based on 16x FY08/ 09F blended earnings. Maintain BUY. |
||
| Useful To Me Not Useful To Me | |||
|
Pinnacle
Master |
15-Nov-2007 12:31
|
||
|
x 0
x 0 Alert Admin |
DBS Vickers - Tat Hong Holdings (TAT SP): Tight supply, high margins Buy S$2.70; Price Target : S$ 3.32 (Prev S$ 2.28) Tat Hong delivered a set of 1H08 results that were far better than our expectation. Net profit rose 104% y-o-y to S$40.2m in 1H08, which was equivalent to about 66% of our previous net profit estimate of S$61.1m in FY08. Tat Hong?s stronger than expected set of results was mainly due to: 1) its ability to sustain its fleet utilisation rate at above 80%, with 82.1% in 1Q08 and 83.5% in 2Q08, and 2) the rising average crane rental rates and selling prices, attributable to the continual tight crawler crane supply in the region. This resulted in its gross profit margin rising a very sharp 10.1ppt y-o-y to 39.4% in 1H08. |
||
| Useful To Me Not Useful To Me | |||
|
Pinnacle
Master |
15-Nov-2007 11:38
|
||
|
x 0
x 0 Alert Admin |
Tat Hong, enjoyed a second-quarter net profit surge of 147 per cent to $22.9 million, thanks to the Asia-wide infrastructure and energy sector boom. The profit surge came on the back of a 52 per cent rise in revenue to $160.2 million, from $105.2 million during the three months to end-September 2006. Crane rental revenue surged 119 per cent to $45 million in the quarter due to higher rental and utilisation rates in both infrastructure and oil & gas and energy projects. Equipment sales revenue climbed 34 per cent to $74.1 million amid strong demand in both Asia Pacific and the Middle East. The group's gross profit increased 112 per cent to $65 million, with its gross profit margin widening from 29.2 per cent last year to 40.6 per cent during the July-September 2007 quarter due to higher utilisation rate, higher selling prices, and higher rental rates, fuelled by strong demand and shortage of equipment. The results lifted Tat Hong's first-half net earnings by 104 per cent to $40.2 million, up from $19.7 million a year earlier. Revenue for the April-September 2007 half rose 40 per cent to $298.3 million, from $213.1 million a year earlier. |
||
| Useful To Me Not Useful To Me | |||
|
Pinnacle
Master |
15-Nov-2007 11:01
|
||
|
x 0
x 0 Alert Admin |
Citi Investment Research - Buy: Another Blowout Quarter; Raising Target Price to S$4.15 Buy/Low Risk 1L Price (14 Nov 07) S$2.70 Target price S$4.15 from S$3.70 Expected share price return 53.7% Expected dividend yield 2.4% Expected total return 56.1% Market Cap S$1,340M US$927M Modifications ? We have made the following changes: (1) raised our gross margin assumptions by between 230bp and 250bp following the strong 2Q08 results, (2) increased our net earnings forecast by between 11% and 14%, and accordingly, (3) raised our target price from S$3.70 to S$4.15. A key beneficiary of the tight crane market, we reiterate our Buy (1L) rating. 2Q08 shines ? Tat Hong (TH) delivered another record quarter with revenues up 52% yoy to S$160m in 2Q08, while net income surged 147% yoy to S$22.9m. Gross margins rose significantly from 29.2% in 2Q07 to 40.6% in 2Q08. For 1H08, net earnings more than doubled to S$40.2m. The group indicated that rental rates were up by more than 25% over the past 6 months. Solid prospects ? As we highlighted in our previous report, the tight crane market has turned the industry into truly a sellers' market with customers focusing largely on crane availability (and not on pricing). With the large number of oil and gas/infrastructure projects planned across the region over the coming years, we believe TH is strongly positioned to benefit. Greater confidence ? The robust operating conditions along with the tight market have boosted management's confidence, prompting it to state for the record that TH is on track to surpass its expectations of a 3-year net profit CAGR of 30% from FY07 (i.e., from FY2008 to FY2010). |
||
| Useful To Me Not Useful To Me | |||