I have added a new company to my watchlist. You may view it by clicking on the right sidebar link.
China Sky Chemical Fibre (E90.SG) is currently priced at SGD 1.500 and I have calculated its fair value to be SGD 2.030. The company is a leading manufacturer in China, and is engaged in the sale of chemical fibres, mainly high-end nylon fibres, with a wide and diverse range of commercial applications ranging from high-end sportswear and casual wear to other consumer products like curtains, tablecloth, upholstery and decorative materials, shoes, bags, luggages, umbrellas, tents, ribbons and nylon webbings.
Please be reminded that the companies listed on my watchlist are intended for long-term investing, so please do not expect instant gratification on the prices.
In addition, SP Chemicals had released its full FY07 results, so I will be reviewing the intrinsic value.
Thursday, February 14, 2008
Watchlist Updated
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8 comments:
Hi TYL,
China Fishery will release results on Feb 14, 2008 after market close. Just FYI.
Regards,
Musicwhiz
Happy CNY musicwhiz! Yeah, fishy will be posting its results later this evening. Wonder if it will miss or beat expectations? =)
Hi TYL,
Happy CNY too !
I won't bother about analysts' expectations. As long as they conform to my expectations, it'll be fine ! Haha....I expect USD 80 million FY 2007 net profits, about 3 cent/share dividend. Most importantly, I need an update on their Peruvian Ops and also need a strategic long-term plan from the company. They have been pretty quiet in the last quarter.
Regards,
Musicwhiz
Nodnod, I am referring to our expectations, just hope nothing surprising crops up...and hopefully they will announce plans which stretch further into the future. =)
hey tyl, u haven't posted anything for a month. the market has thrown up some good prices. need your guidance.
hi icici, yes indeed the market has been throwing out good prices these days...but i am currently tied up with some personal issues which explains the lack of posting....i still have a liking to s-shares and many are going on fire-sales with single-digit PE, so you might wanna take a look at those with bigger market cap *cheerZ* =)
hey very interesting indeed and impressive to see you churn out research reports.checked out ur research on sp chemicals.however,just like to ask ur opinion regarding certain factors e.g.how did u determine the free cash flow to be as such?it seems that the free cash flow is rather much inconsistent.and also would like to hear ur comments about the length of time,for me,i normally use a 5-8yr time period for safety,and a much higher discount rate as the ERP is around 7-8% nowadays.
Anyway, it's been a pleasure reading ur blog;)
hi patrick,
it is nice to have you reading my blog! =) sorry for the long period of no updates as I am tied up with some major personal issues hehe....anyway, free cash flow is operating cashflow reduced by capex, my FCF is derived by forecasting the various line items on the financial statements....as for the period, I normally use a 10-year period and a perpetual period thereafter =) i feel as long your parameters are consistent in analyzing various companies, you should be making a fairly reasonable comparison.
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