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(Post 1 of 989) 02/18/2000.18:57:00 |
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Wonder why this counter is sleeping? Understand this to be a revamped company doing supply-chained management of major US software companies. |
| (Post 2 of 989) 02/18/2000.18:59:00 |
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Understand that Tech Wah's MD is visionary in engineering co's transformation from a brick & mortar printing co into one in supply chain mgt. Also understand that it has invested in a dot.com related co. Co should therefore take off soon.... |
| (Post 3 of 989) 02/18/2000.20:00:00 |
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Well, at last there is someone interested in this Topic. TW's core biz is into paper pulp. It's embarked onto the DotCom arena. But this counter's volume and price is simply too underperform. Analysts may want to visit this company to find out further. |
| (Post 4 of 989) 02/27/2000.23:04:00 |
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Nah ! ... why should it take off just because it brought a dot.com company. BTW, what sort of dot.com company ?? |
| (Post 5 of 989) 02/27/2000.23:07:00 |
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quite a few sesdaq counters beginning to look interesting including this one. prefer to wait for more signs before going in. |
| (Post 6 of 989) 02/28/2000.17:53:00 |
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The dot.com co they bought into is understood to be a subsidiary of Fusion which was in the news recently over its funding by big boys and its big plan. No reason why this healthy co is cheaper than IPC!! Can somebody please explain. TW was hailed by TDB's Goh Oon Tong recently, after announcing its Korean deal, to be a co diversifying in the right direction and franchising its expertise to the overseas market. So why wouldn't the counter fly??? |
| (Post 7 of 989) 02/28/2000.19:22:00 |
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Well ... so far it ain't flying. For one, majority of its shares are held within the family; ain't much number of shares for trading. For two, it's very much a brick and mortar company, and that's not attractive to funds managers seek good returns. For three, there's no SuperBoy involved ... too busy with grabbing big fish in his backyard. But it is a solid , stable counter, with good growth prospect, esp. as it is expanding regionally. Alas ! That's isn't what fund managers look for these days, isn't it. The world's gone topsy-turvy with dot.com here, dot.com there. Everyone screaming for spectacular S curve. |
| (Post 8 of 989) 03/24/2000.06:03:00 |
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Teckwah Industrial 1999 net profit pre-extras 4.658 mln sgd vs 1.371 Teckwah Industrial Corp Ltd 1999 results: Net profit pre-extras - 4.658 mln sgd vs 1.371 mln Sales - 70.562 mln sgd vs 52.275 mln Opg profit - 14.999 mln sgd vs 9.132 mln EPS (pre-extras) - 4.12 cents vs 1.21 Final div - 6.0 pct, unchanged In a statement accompanying results, the company said its overall performance is expected to improve this year. It said in view of the strong recovery in the IT industry, the company's supply chain management business and the traditional printing and packaging business will cotninue to enjoy growth. It said its turnover rose 35 pct in 1999 due to the higher turnover recorded by its operations in Singapore and China. It recorded an extraordinary gain of 2.6 mln sgd from the sale of a factory building. Teckwah Industrial attributed the higher profits to the higher sales, which resulted in economy of scale and lower operating expenses. Its Chinese operations have also turned around from a loss of 0.9 mln sgd to a profit of 0.6 mln sgd, the company added |
| (Post 9 of 989) 03/24/2000.09:24:00 |
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Teck Wah is finally moving. Good result. The share should be heading north all the way?? |
| (Post 10 of 989) 05/10/2000.11:15:00 |
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Hi All, When is the date that Tech Wah will announce the bonus issue (1:1)? Is SES approve the bonus issue? Regards |
| (Post 11 of 989) 05/10/2000.11:24:00 |
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is there any bonus issue for this one??? holding only 3 lot of this one only. waiting for clearer signs.... |
| (Post 12 of 989) 05/12/2000.09:12:00 |
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Hi, The company is plan to have 1:1 bonus issue. There are waiting for approval by SES and the majority share holders. There should be some speculative buy in next one to two weeks. I notice that the share price is pretty stable (Between S$0.35 to S$0.40). Regards |
| (Post 13 of 989) 06/07/2000.16:10:00 |
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Hi Anybody has any update on Teck Wah's bonus issue? |
| (Post 14 of 989) 06/08/2000.07:57:00 |
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Hi Genomics, I will update to you once I have any news on the bonus issue. thanks, |
| (Post 15 of 989) 06/08/2000.14:29:00 |
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Hi, I read Businees Time this afternoon. There will be an Annual General Meeting on the coming 25th June 2000. Pls. refer yourselves on the news paper. thanks, |
| (Post 16 of 989) 06/12/2000.17:05:00 |
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Hi, We shoud hold on to this counter. I believe it will perform better for the next two weeks. Anyway I have 10 lots with me. I am looking for S$0.5. thanks, |
| (Post 17 of 989) 06/12/2000.17:16:00 |
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Worth picking up with bonus issue of 1:1. At EPS of 4.12cents, the share is worth 82.4 cents at P.E. of 20. Pick up before it is too late. |
| (Post 18 of 989) 06/26/2000.17:21:00 |
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What's with this counter today? Suddenly see some movement. Is the Bonus Issue confirmed at the AGM? |
| (Post 19 of 989) 07/03/2000.10:52:00 |
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It's a good buy share and now is the right time. |
| (Post 20 of 989) 07/04/2000.10:08:00 |
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If you like Mentor Media, you should like Teck Wah better. It has tranformed its business from old economy paper products company to the current software contract manufacturing model, and we are seeing results. Turnover grew 34%, and net profit grew more than 300%! At this price, estimated PE for the current financial year ranges from 6 - 7X, as I believe it should grow no less than 30%, and possibly more than 50%. What do u guys think? |
| (Post 21 of 989) 07/06/2000.09:27:00 |
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Why Teck Wah cannot move? Does anyone know if half year results will be good? You are right, Kkr, Mentor Media did so well recently. I think many people are not aware that TW is into software contract mfg also. |
| (Post 22 of 989) 07/06/2000.11:34:00 |
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Some interest in the warrants! For the mother, once the overhang at 40 - 41c is cleared, we should see 48c. Even at 48cents the fully diluted PE is still 7x this year's earnings! |
| (Post 23 of 989) 07/06/2000.17:40:00 |
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New Client New Contract! Teck Wah clinches software contract from IBM Lotus Development (Asia Pacific) Pte Ltd to supply software for the Asia Pacific region including Japan. For the first 3 yrs, value of the contract is estimated to be US$25m. Stock price should move now? |
| (Post 24 of 989) 07/07/2000.01:11:00 |
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Teckwah wins 25 mln sgd software manufacturing contract from IBM SINGAPORE (AFX-ASIA) - Teckwah Industrial Corp said unit Techwave Media Services Pte Ltd has won a contract with Lotus Development Pte Ltd, the desktop software arm of IBM, to manufacture and supply software for the Asia-Pacific region. The contract, estimated to be worth 25 mln sgd in the first three years, covers turnkey manufacturing and supply services. Techwave will manufacture all desktop software for IBM including original equipment maker and consumer products. str/sm |
| (Post 25 of 989) 07/07/2000.01:42:00 |
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PRESS RELEASE LOTUS/IBM AWARDS SOFTWARE MANUFACTURING CONTRACT TO TECHWAVE MEDIA SERVICES PTE LTD SINGAPORE 6 July 2000 - Techwave Media Services Pte Ltd ("Techwave"), the wholly owned subsidiary of SESDAQ listed Teckwah Industrial Corporation Ltd today announced that it has been appointed by Lotus Development (Asia Pacific) Pte Ltd ("Lotus/IBM"), the desktop software arm of IBM, to manufacture and supply software for the Asia Pacific region including Japan. The appointment is open-ended and it covers total turnkey manufacturing and supply services. For the first three years, the value of the manufacturing orders is estimated to be approximately $25 million. This is the first outsourcing contract to be awarded for IBM desktop products at Lotus/IBM's Asia Pacific operations center in Singapore. Up until now, IBM's software requirements were manufactured internally. Under the terms of this contract, Techwave will manufacture all desktop software for IBM. This includes OEM and consumer products. "We are very proud to be given the opportunity to work with major names like Lotus/IBM. Techwave is a relatively new arrival to the software manufacturing industry and the contract today is in itself, an important recognition of our capability and knowledge in this area. We are extremely encouraged by this contract and will continue to explore areas where we can further support our customers' needs." says Mr Thomas Chua, Group Deputy Chairman of Teckwah Industrial Corporation Ltd. "The trend for outsourcing will become increasingly important to IT companies like Lotus/IBM as it will help optimize the allocation of resources within an organization. In Techwave Media Services we were impressed with the capability and knowledge within the organization as well as its value chain management network that can help us meet out needs across markets in Asia Pacific and Japan." commented Mr Lye Wen Fong, Managing Director, Operations/IS/Customer Ops, Asia Pacific, Lotus Development (Asia Pacific) Pte Ltd, Singapore. Techwave Media Services Pte Ltd was incorporated in 1998. The primary business of the company is in the manufacture of software packaged products and providing value chain management services. Over the last two years, it has grown rapidly by expanding its manufacturing network to countries like Korea, Taiwan and Thailand to meet the increasing outsourcing needs of major international IT brands for software manufacturing. Through its unique Technology Licensing Programme, the company is in the process of spreading its network to China, Malaysia and Japan and setting up a global marketing office in the USA. In 1999, the company reported a turnover of about $15.0 million. With its creditable customer base, comprehensive manufacturing network and proven track records, Techwave is well positioned to add new international IT's names to its customer list and increase its market share in the software manufacturing industry. For enquiries please contact: Tan Peck Hwa Tel: 832 5185/9635 4996 Fax: 542 5672 email: tphcomms@mbox2.singnet.com.sg Submitted by Chuang Sheue Ling/Lo Swee Oi, Joint Company Secretaries on 06/07/2000 to the SGX |
| (Post 26 of 989) 07/07/2000.17:16:00 |
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Is moving now ! You can see more movement on next week. |
| (Post 27 of 989) 07/07/2000.18:24:00 |
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Is the talk of the bonus issue still on? |
| (Post 28 of 989) 07/09/2000.13:49:00 |
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With the recent good results announcement and the recent contract awarded by IBM, we should see more upside for this counter, hopefully! Seems really illiquid everyday. Vested interest high high up!! *sigh* |
| (Post 29 of 989) 07/10/2000.11:31:00 |
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One day wonder! What happened to Friday's volume? |
| (Post 30 of 989) 07/10/2000.12:49:00 |
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Add $25m to their revenue and yet cannot go up. When can it ever move up? Next best thing is to wait for their bonus issue. Is this approved yet? |
| (Post 31 of 989) 07/10/2000.13:32:00 |
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Looking thru these posts, I am tempted to buy in but glancing thru the co. announcements available on this website, it seems the substantial shareholders had been unloading millions of warrants and shares all thru 1999. I am also reluctant as this is another co. owned and managed by family members, something some wise guy advised to avoid (unless you are TA) in his post some days ago. Also, dividend payout seems paltry. Only thing which attracts me is the bonus issue. I'll wait and watch the co. announcements before I commit. |
| (Post 32 of 989) 07/10/2000.23:55:00 |
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Apart from the bonus issue announcement, we should anticipate good interim results which should be announced in Aug, possibly early Aug. Mentor did well (78% net profit growth) having enjoyed the 1st 3 months of the year. Teck Wah should not do worse. With such thin volume, and relatively stable prices, can we soon conclude that the buying vol on Friday is genuine? |
| (Post 33 of 989) 07/11/2000.23:28:00 |
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Pilot, Take a look at the charts via SI's historical charting functions and you will see something interesting developing. The stock has gone 'flat' and moving in a sideways range between 35-45c for almost a year. Indicates collection is underway. That consolidation followed from the sharp and explosive Apr-July 99 rally which saw Teck Wah quadruple in price from 15c to over 75c! Such long sideways moves within a rectangle show that demand and supply have come into balance, with buyers keep to mop up stock down at 35c and willing to sell around 45c. It is usually also a prelude to further advances in the future. With all that has been posted here thus far, it will be a matter of time before a new uptrend commences. What it needs is a trigger. Maybe the upcoming interim results in August, or the approval of the outstanding 1:1 bonus issue, or even new contracts? What is sure, however, I shall be keeping this stock on my radar screen. No vested interest yet. Just my 2.5c worth |
| (Post 34 of 989) 07/12/2000.23:13:00 |
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Heard that a few broking houses have seen the company and are quite impressed with the transformation from old economy to new economy. While a Lotus Development contract may not be perceived as high profile as a Microsoft, it should not be less lucrative nevertheless. Just picked out an article from BizIT dated 24 Apr 00 featured an interview with the president. Basically, Lotus software is seeing brisk demand because of the govt's emphasis on the knowledge based economy. A killer app software is expected to be launched 3Q this year, and I suspect the new contract to be related to this. Warren, I can't see much from the charts due to its erratic volume, and various gaps, but I do think that based on its earnings and projected earnings, there certainly is value, trading at lower PEs than its peers, and growing at a pace no less. |
| (Post 35 of 989) 07/24/2000.10:28:00 |
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Folks, I did some digging around the SI archives, read the company's annual report and news clippings and scanned the few broker reports that exist. My conclusion? Teck Wah Industrial is an under-rated share, and I feel it represents great value at these current depressed levels. The company's core business is in the paper and printing industry, where it has strong domain knowledge, having been at it for 32 years. While providing a good base load of business ($50 mil sales per year) and decent returns on assets employed, the exciting growth for Teck Wah is in OEM supply chain management. That segment of business is relatively new, and really just started contributing from 1996. Techwave Media Services Pte Ltd, a wholly owned unit, recently announced it has been appointed by Lotus Development (Asia Pacific) Pte, the desktop software arm of IBM, to manufacture and supply software for the Asia Pacific region including Japan. The contract is open-ended and covers total turnkey manufacturing and supply services. For the first three years, the value of the manufacturing orders is estimated to be approximately $25 million. This will be a major boost to Techwave, which in 1999, reported a turnover of about $15.0 million. Techwave's primary business is the manufacture of software packaged products on OEM basis (like the IBM/Lotus deal) and providing backend value chain management services. During the past two years, it has grown rapidly by expanding its manufacturing bases to countries like Korea, Taiwan and Thailand and is in the process of spreading its network to China, Malaysia and Japan and setting up a global marketing office in the USA. Run by the capable Thomas Chua, group deputy chairman, Teck Wah is a relatively new comer to the software manufacturing industry. The IBM contract is an important recognition of the group's strength, capability and knowledge in this exciting area. Up until now, IBM's software requirements were manufactured internally. Under the terms of the new contract, Techwave will manufacture ALL desktop software for IBM. This includes its OEM and consumer products divisions. (Just an aside, I wish to thank SI forumer Kkr for his valueable input on Wednesday, July 12, 2000 - 11:13 pm: "...While a Lotus Development contract may not be perceived as high profile as a Microsoft, it should not be less lucrative nevertheless....Basically, Lotus software is seeing brisk demand because of the (Spore) govt's emphasis on the knowledge based economy. A killer app software is expected to be launched 3Q this year, and I suspect the new contract to be related to this.") The trend for outsourcing will become increasingly important to IT companies like Lotus/IBM for it will optimize allocation of resources, save costs and raise efficency. However, IBM/Lotus is not TechWave's first or only contract in hand. They secured and have on hand a clutch of similar software production deals from many more big namesin the computer, games and application software industries. More new global IT's names are likely to be added to its customer list, thereby boosting market share. The key point to remember here is the global outsourcing trend among MNCs will continue for a long time to come. Reasons are: 1. Time to market is driving all industries 2. Pricing of end products is getting tighter 3. More emphasis on faster/cheaper/better 4. Increased demand for quality output 5. Competition more vigorous and fast changing 6. Commodity parts/products more prevalent 7. MNC companies downsizing production units 8. Technology moving faster and faster Further, it seems to me that there are BIG moves afoot in the electronic and electrical industries, caused in part by the convergence of digitization and the internet. That requires retooling and redesign of products and a growing trend towards outsourcing is helping Asian companies like Teck Wah that know not only how to manufacture cheaply, but to handle the backend supply and delivery chains for the large MNCs that controls the intellectual rights. On the corporate front, Teck Wah is expected to announce their June interim results sometime late August or early September and I expect the trend of rising profits to continue strongly through the next few years. (Management stated: "In view of the strong recovery in the IT industry, the Group's supply chain management business and the traditional printing and packaging business will continue to enjoy growth...(and the) Group's overall performance to improve in the current year.") For full year 1999, the group reported eps of 3.3c (fully diluted), up 3x 1998 figure. Based on current price of 38.5c, Teck Wah is trading at low historic PEs of 11.6x and most probably even lower for FY2000. NTA is 40.35c. Also, there is an outstanding 1:1 bonus issue pending SGX approval, which based on company's sound balance sheet, should be forthcoming soon. I have some vested interest here, especially the TeckWah warrants. There are 33.9 mil warrants on issue, with strike price of $0.37c and expiry of 27/10/2001. My stance is with improving business and profit backgrounds, more contracts in the pipeline, the pending bonus issue and low and depressed share price, it takes very little effort to get the stock moving. At 12c, the wrts offer 3x gearing and are on 27.5% premium. This is not an inducement to buy, but a call to relook this forgottent stock. Just my 2.5c worth. |
| (Post 36 of 989) 07/24/2000.10:43:00 |
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I think the stock will move when the official aproval for 1-1 bonus given by SGX. Watch it. |
| (Post 37 of 989) 07/24/2000.11:32:00 |
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Thanks, Warren, for your response. I was beginning to feel lonely in this thread, with such little interest in what I thought an extremely undervalued stock. If one looks at the FY1999 results, you would have seen the jump in turnover to $70m, compared with the $50m average TW had achieved in the last 5 yrs or so. Not to mention the jump in net profit. This trend is set to continue, I believe. I know that TW has been seeing analysts, and retained Investor Relations Consultant to boost the profile of the company. BTW, Warren, where are your broker reports from and how recent? The other customers it does business for are the likes of Linux,Electronic Arts etc for software, and HP and Adaptec for hardware. There seems to be systematic interest in the stock, the only thing that is holding back the price, I think, is the lack of liquidity. Everybody is waiting for the other to make the first move. |
| (Post 38 of 989) 07/24/2000.15:55:00 |
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Kkr, Thanks for the valued input. I must confess that were it not for your and other SI forumers postings here, I would have given up on this stock. You see, the broker reports I referred to were quite some time ago, when it was just a printing and packing business. There no mention of their exciting new growth areas of supply chain management. Yes, this is an empty room. The stock is not rated, and simply not on the radar screens of most players. That is what has got me excited. Why? When it does get noticed (either corporate developments, results or tide turns towards penny stocks) and analysts start their coverage, it can move quickly. Like me, most will have limited information to work with, and that would require visits to the company and unearthing more industry analysis. If they uncover more than what we all know, then a serious rerating will occur. As the stock is quite underowned, and by my reckoning, those that have it are firm hands, then a buying stampede could ensue. I like to be ahead of the crowd. I have vested interest in both the shares and warrants. Just my 2.5c worth |
| (Post 39 of 989) 07/25/2000.00:52:00 |
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There was a time when Mentor Media and IPSCOM were hot stocks. Analysts were calling fair values of more that $1 for IPSCOM and $0.60 for Mentor. These were the 2 recognised listed players in the industry. If I am not wrong, the biggest player, but not listed,is a company called Modus Media, a US company. Teck Wah, as you mentioned, was never on the radar screen, simply because nobody knew that TW was in the same business. Eastgate and Datapulse are sometimes lumped together with Mentor and IPSCOM by virtue of their role in the whole supply chain. But really they are specialists in CD replication only, and thereby granted higher margins for higher capex. Which explains why IPSCOM's margins are higher that Mentor or Teck Wah - IPSCOM has its own replication lines, although for large contracts, the replication is usually outsourced. TW does not own replication lines, but having been in the print and pack business, and being at the final stage of the supply chain, it makes logical and sequential sense for a company like theirs to consolidate and organise client's requirements and fulfil them. Now the story on software contract manufacturing is not so hot, which explains the price weakness in Mentor and IPSCOM. But who should resist value at PEs of only 6 - 7 times prospective earnings fully diluted? Even at the current weakness Mentor is trading at about 10 times. Interim results are usually released earlier than full year, so I would expect TW to release theirs quite soon, perhaps early Aug. Then we shall see the moment of truth, if TW is indeed growing continually at the fast pace. Like you, Warren, vested interest. |
| (Post 40 of 989) 07/25/2000.16:39:00 |
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volume picking up again |
| (Post 41 of 989) 07/26/2000.10:18:00 |
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I am watching very carefully at this counter. Although this is a very illiquid counter, I sensed that buyers are coming in, but due to lack of sell volume, buyers are refraining from putting in buy orders. Having secured a contract with IBM, pending approval by SGX for bonus issue (this will increase liquidity) and with results due next month, I believe this counter will creep up in shortly. |
| (Post 42 of 989) 07/26/2000.11:41:00 |
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Kkr and others, Want a research report on Tech Wah? I was surfing this thread for more information and clicked on Teck Wah name at top of page and got a pop-up screen with additional links. Do click the one titled: "Wright Company Info". Boy, there is loads of valuable analysis of balance sheet, corporate background, sector ratings and the whole kaboodle! Isn't it great to have all this valueable FA information at your finger tips? If that is not enough, then pop across to the link titled "Historical Charts" and watch the price patterns on the charts. All the TA action captured here allows us to track the IH who is clearly making his mark in this quiet empty room. There is also "Price Download" where you can watch the daily action live, and "Company Announcements" & "SGX Info" to check up on any developments from the company, like insider activity, financial reporting etc. Now isn't that neat or what? We have Oldman and his wonderful team here at SI to thank for all that. I'm certainly going to use these features over and over again. Thank you SI! Seasonplayer |
| (Post 43 of 989) 09/22/2000.01:27:55 |
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Teckwah Industrial H1 net profit 4.108 mln sgd vs 1.385
SINGAPORE (AFX-ASIA) - Teckwah Industrial Corp Ltd six months to June results: Net profit - 4.108 mln sgd vs 1.385 mln Sales - 50.875 mln sgd vs 29.215 mln Pretax profit - 6.485 mln sgd vs 2.624 mln Opg profit - 8.938 mln sgd vs 5.195 mln EPS - 3.63 cents vs 1.22 Interim div - nil, unchanged In a statement, Teckwah said it expects the current year's profit to be higher than last year's on the back of growth in its supply chain management services, printing and packaging businesses. The company said its half year sales were boosted by increased contributions of 16.8 mln sgd from Singapore supply chain mangement services. |
| (Post 44 of 989) 09/22/2000.15:10:01 |
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Just a few more notables on Teck Wah.
Not only has net profit improved dramatically, in line with its new found growth area, NTA has also improved - 44.2 cents. At current price of 34 cents, we are buying at 0.77x NTA! Understand that in a bid to raise the profile of the company, Teck Wah arranged for a telephone conference yesterday at 6.10 pm, upon release of the interim. Don't know if response was good though. Going by this set of interims, if we do a 50:50 split or even the more typical 40:60 split, we could be looking at net profit of 8.5m to 10.5m, giving PERs of 4.5x to 3.6x at a growth rate of 100%! It's pity that the company has such poor following. |
| (Post 45 of 989) 09/22/2000.15:19:32 |
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Kkr,
I have 20 lots at 38cts. Does that count?? |
| (Post 46 of 989) 09/22/2000.17:37:39 |
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Mossie,
Any amount counts, certainly! But I notice that there have been very few followers, at least on this thread. Admittedly, even I was tempted to give up on it the last 2 months. I was quite happy to see a surge in volume then, but has since died down. Really, I am not giving up on the counter, though. I hope you don't as well. Hopefully, the undervaluation get recognised soon, and we can have more active participation (in the stock as well as in this thread). Warren, are you still holding on? |
| (Post 47 of 989) 09/22/2000.18:07:38 |
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Kkr,
I cannot answer for Warren but I am going to hold onto mine. This is one of those local companies that have given me great faith in their ability to remain relevant. DO note, these guys are competing in the international arena for full spectrum of supply chain mgt. From a dull and boring paper package business, they have embarked on an extension of their core biz into supply chain mgt. The fruits of those efforts were shown in their recent half year results. Why haven't analysts covered it? Probably too small. But I think it has to do with management being too busy to build core expertise & competency to speak to the outsiders. This company is certain proof that SMES have remain relevant in theface of many changes. |
| (Post 48 of 989) 09/25/2000.12:23:58 |
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Kkr & Mossie,
Yes, I'm still long and do believe in the Tech Wah story. Apparently, the latest results have also caught the attention of OUB Securities which have labelled Teckwah "Grossly Undervalued". They have put a "Strong Buy" in their newest report dated 22 September 2000. In it OUBS state: "The performance in Teckwah’s new Supply Chain Management Division was even more impressive with turnover up more than five-fold to $20.8m." They add: "The surge in turnover at Teckwah’s Supply Chain Management Division, even before the IBM/Lotus contract kicks in, confirms that the group is fast transforming itself into a specialist turnkey service provider to the software industry. "The results excluded impact from its S$25m IBM/Lotus contract, which was awarded on 6 July and implemented in August, involving the manufacturing and supply of desktop software for the Asia Pacific region including Japan. Management expects the contract will help expand the share of turnover of its Supply Chain Management Division from 19% in FY99 to 40% this year. At the same time, we estimate the share by the Print & Pack Division will fall from 78% in FY99 to 56% this year. The main customers for the Supply Chain Management Division are IBM, HP and major US-based interactive entertainment software company Electronics Arts." Well, I'm convinced that TechWah is a growth story and am prepared to buy more. I agree with OUBS who've stated "The share price has fallen 20% from its high of $0.41 following news of its IBM/Lotus contract. We have raised our net profit forecast by 21% to $8.5m for FY12/00 and by 20% to $9.3m for FY12/01. At a bargain 5.5x FY12/00 PER with strong upward re-rating potential and a 25% discount to NTA per share of $0.44, we are upgrading Teckwah from BUY to STRONG BUY." |
| (Post 49 of 989) 09/25/2000.17:02:02 |
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Quite a bit of volume today. Noticed that the buyers were quite aggressive...wonder if they are IH moving in. I sold some to test..all the same broker. |
| (Post 50 of 989) 09/26/2000.15:12:14 |
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The volume is miserable. They have to project themselves well, not as a china company and not those associated with so much nepotism within the company. Their name got to change as well.
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