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outlook
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maxsyn
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14-Nov-2006 22:28
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FromDBS research: Maintain BUY, and S$1.30 target price. We maintain our BUY rating for Tat Hong, which offers investors a proxy on demand for heavy equipment in the Asia Pacific region. This is based on comparable peers valuation multiples. We maintain our BUY rating for Tat Hong, which offers investors a proxy on demand for heavy equipment in the Asia Pacific region. This is based on comparable peers valuation multiples. |
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YongJiu
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14-Nov-2006 09:05
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Tat Hong Holdings Ltd: Uptrend remains intact Summary: Tat Hong's (THH) revenue dipped 3% YoY to S$105.1m in 2Q07, as its crane rental (+21% YoY) and spare parts (+16%) business failed to stem lower volume for equipment sales (-3%) and lower general equipment rental (-26%). Net profit pulled itself barely 1% YoY higher to S$9.3m in 2Q07, and rose 18% YoY to S$19.7m in 1H07. THH's performance in 2Q07 was dragged down by the disappointing set of results from its Australia-listed subsidiary Tutt Bryant Group Ltd (TBG). TBG now expects A$4.8m net profit in 1H07, after the high staff turnover resulted in discontinuity and cost overrun in some projects. TBG has since taken remedial actions, and is now guiding for A$10-A$11m net profit in FY07. We believe that the positive business prospect for THH has remained intact, and its weak 2Q07 performance is a hiccup. As such, there is no change to our FY07 and FY08 net profit estimates of S$42.1m and S$49.0m, respectively. Due to the proximity to financial year ended March 2007, we have raised fair value estimate to S$1.42 (vs. S$1.31 previously) on the back of FY07/08 EPS (vs. FY07 EPS previously), keeping a similar 14x forward PER. We maintain BUY rating on THH. (Chong Wee Lee) |
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Nostradamus
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12-Oct-2006 20:39
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Credit Suisse said that Tat Hong was likely to supply many of the cranes required for construction projects here, especially with some, such as the Marina Bay Sands casino resort, requiring 60 cranes or more. "We believe that no other crane provider in Singapore can provide cranes on that scale," Credit Suisse said. |
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mamasan
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05-Jun-2006 17:23
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target price 1.30. |
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Nostradamus
Supreme |
30-May-2006 22:28
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Tat Hong will also capitalise on the active energy resources sectors in Malaysia and Australia. |
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fuusdd
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30-May-2006 17:58
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Good results, with many houses calling a buy or outperform, target price of 1.31. yet today's movement is lethagic. |
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mamasan
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29-May-2006 10:33
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results out today ?? |
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mamasan
Member |
22-May-2006 07:44
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all the right moves and no risky business ? 2 movies in 1 ? |
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mamasan
Member |
22-May-2006 07:41
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why daniel XX ? not triple X ? |
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DanielXX
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21-May-2006 21:43
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You can catch a hint by watching the performance of its 70%-subsidiary Tutt Bryant on the ASX: it has been moving steadily up, by about 50%, since its IPO last year. In terms of positioning, it has exposure to all the right regions (Australia, Middle East, South-east Asia) and all the right sectors (infrastructure, mining, construction). Do not let go. |
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mamasan
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21-May-2006 20:39
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anyone can offer some views on direction of this stock...thanks |
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